John Cobb and Jennifer Grancio

Spiritual Bankruptcy, by John Cobb, was the focus of several posts, beginning 9/25/22. One Cobb sentence lingers with me: Being religious tends to confirm existing patterns of behavior or even those of ancestors rather than encourage drastic innovation.

I thought of Cobb when I heard Barry Ritholtz interview Jennifer Grancio, CEO of investment company Engine No. 1. Grancio’s company sees sustainability as essential for long-term profitability. It’s just common sense, but some corporations don’t think enough about the long term. It made me wonder if I helped my congregations think enough about the long term.

Cobb and Grancio come from different perspectives to share a common theme, described in Wikipedia’s article about Cobb: A unifying theme of Cobb’s work is his emphasis on ecological interdependence–the idea that every part of the ecosystem is reliant on all the other parts. Cobb has argued that humanity’s most urgent task is to preserve the world on which it lives and depends….

Engine No. 1’s first project was Exxon Mobil, which Grancio and company believed had not addressed long term issues facing a changing oil and gas industry. They successfully elected three new directors to the Exxon board, noting … the changes it has made … including maintaining capital allocation discipline, setting more aggressive GHG emissions reduction targets, and increasing resources for its Low Carbon Solutions business unit.

From “Can Engine No 1 lead Wall Street to ‘beyond investment as usual’?” by Billy
Grider, Climate & Capital Media, April 13, 2022

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