Mercedes backs down: next blow for the ESG community

German premium car manufacturer Mercedes has backed out of its plan to stop producing conventional car engines by 2030. This comes at a time when large funds such as Blackrock and JP Morgan are increasingly divesting from ESG investments. I think this has to do with the higher interest rates and the fact that it is no longer possible to easily finance projects that could never be realized in a real market under real conditions. Reality sets in when the capital market shows the red card!