Ominous? You bet. But not in the way you may think.
It seems that the Saudi attempt to open up investment in their oil reserves flopped. https://www.smh.com.au/business/markets/the-oil-sale-of-the-century-is-a-flop-and-sends-an-ominous-warning-20191125-p53dqp.html
It has been positioned as an ominous warning – as to the value of the OPEC nations’ oil reserves.
As the Purpose of a Corporation Declaration of August 19 states, the future of any business lies in its ability to bring all stakeholders into consideration; not just shareholders.
Regardless of what you feel about the Saudi regime politically, as part of OPEC they were financial untouchables. Oil = power.
But global warming, caused in large part by their product, could now be reducing their business model to cinders.
How is this related to purpose?
What if they had cared about the planet (all stakeholders) while also caring about their profits? Renewables? Environmental remediation? Couldn’t their ability to attract investment be different?
Instead of investing in a “polluting” sector that isn’t passing the pub test, you’d be investing in the future of the planet. Totally different.
I am wondering if there could be a more important, ominous warning for other “untouchables”?
If you feel untouchable…it could be time to check the weather.