Ecological transition and inclusion, Trump effect on businesses: back to core business.

How corporate environmental and social rights strategies are changing: less philosophy and more facts.

While we wait for January 20, the date of Donald Trump's inauguration at the White House, we are witnessing an endless series of positions. Or rather, of repositioning. It is not an exercise in fantasy economics to ask what the cascade effect will be of the pilgrimage of so many business figures, not only web magnates, to the court of Mar a Lago. Massimo Gaggi wrote it well, explaining in the Corriere the many implications of what is announced as an "imperial presidency". And it is not out of place to believe that the echo of this global and even aesthetic rethinking of priorities and rules does not interest the entire international business world and does not end up changing the attitude of many European and Italian entrepreneurs.

Mark Zuckerberg's about-face, giving up control of the truthfulness of the facts on his platforms

in pursuit of Elon Musk's Model X, only a few years ago would have been unthinkable and obscene. The Cambridge Analytica scandal seems to have been completely forgotten. Yet it was about the manipulation of news and the improper use of Facebook accounts that would have favored Trump's election campaign in 2016. Zuckerberg himself had to apologize to Congress and from there came a whole season of discussions on the editorial responsibilities of the owners of social networks, eager to give themselves rules and even wanting political power to impose them. It seems like the last century, it was only the day before yesterday.

The outflows

According to Statista data from January 2, in the third quarter of 2024, the sustainable fund that recorded the largest outflows was BlackRock's US Equity Tracker Fund with approximately 3.74 billion dollars . Two other American funds, based in Europe, such as BlackRock Coutts UK Esg Insights Equity Fund and 1895 Wereld Bedrijfsobligaties Fonds lost 2.02 and 1.37 billion dollars respectively.
But if the power of politics seems unstoppable, especially these days (just think of the choices of Jeff Bezos and his Washington Post), the market inertia that guides the choices of many companies and institutions on the path to decarbonization should not be underestimated. A backflow in the energy transition is inevitable, but a complete U-turn is completely unlikely