ESG is meant to align environmental, social and governance priorities. But companies are increasingly being forced to choose between competing issues as ESG starts to break apart. How should companies rethink their approach? By Kaushik Sridhar

The Iran war has reminded everyone, but especially Africans, of the structural instability of fossil-fuel prices. For African trustees, directors, asset managers, and other fiduciaries, the question is not whether capital should reposition, but whether institutions will act before events compel them to do so. By Nicole Martens

The Covid-19 pandemic and the wars in Ukraine and Iran have reframed the issue of sustainability, which is now as much about sovereignty and economic security as it is about planetary health. Countries and companies that fail to recognise this have everything to lose in the coming years. By Bruno Bouygues and Bertrand Badré

While tensions around the Strait of Hormuz are rattling global oil markets, energy security is no longer defined solely by access to fossil fuels. What China has understood, and Europe has not, is that security now depends on electricity systems that can deliver low-cost power at scale and support heavy industry. By Emmanuel Guérin