Global companies have started to drop climate goals from executive pay plans, as the corporate world retreats from ESG initiatives in the face of fierce US opposition and mounting costs.
Payouts linked to environmental, social and governance goals had become ubiquitous in Europe and common in the US in recent years. Investors had also started to lobby for pay to be tied to tougher ESG targets, because of concerns that the goals used have been too easy to reach.
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