Woke SVB: Remembering Woke Enron

By Robert Bradley Jr. -- March 22, 2023

The demise of the “Climate Bank” SVB makes a look back at ‘Woke Enron’ timely. This post is an excerpt from Robert Bradley, Jr. Capitalism at Work: Business, Government, and Energy (2009), pp. 309–310.

In the fall of 2001, Ken Lay set the tone for what would be Enron’s last Environmental, Health, and Safety Management Conference:

We believe that incorporating environmental and social considerations into the way we manage risk, govern our projects, and develop products and services will help us maintain our competitive advantage. As we move forward, we will leverage our intellectual capital and innovative capabilities to promote sustainable business practices around the world.

At this meeting, Enron’s Corporate Social Responsibility (CSR) task force listed its “Accomplishments to Date,” which were:

Secured board oversight of social/environmental performance
Expressed support for Universal Declaration of Human Rights
Completed corporate responsibility task force
Developed and pilot-tested human rights audit
Developed security and human rights guidelines
Established formal partnerships with WBCSD [World Business Council on Sustainable Development], IBLF [International Business Leaders Forum], and CI [Conservation International]
Identified language to strengthen code of ethics
Providing project support—Calypso, Transredes, Dabhol and Cuiabá
Responding to stakeholder concerns on an ongoing basis

The goals for 2002 included:

Formally adopt CERES Principles
Complete indigenous peoples’ policy
Specify social/environmental expectations in formal relationships with vendors and contractors
Review results of stakeholder survey and develop strategy to address outcome
Create awareness of social/environmental trends among [Enron’s] origination and investment groups
Add corporate responsibility performance attribute to PRC [Performance Review Committee] process
Present task force recommendations to Dr.

Milton Howard’s Grid Cancer Projects

By Robert Bradley Jr. -- March 21, 2023

“It took a decade in Texas, but the cancer grew and spread–thanks, in part, to the very projects that Mr. Howard lists on his resume. Between 3,000 and 4,000 MW of mostly wind but also solar projects are claimed, led by Los Vientos I, II, III, IV, V, and VI….

Milton R. Howard, one of the nation’s leading wind/solar developers (along with the spouse of the Houston Chronicle business editorialist, another story) sees himself as a great man, creating value for society in addition to his employer and himself.

He describes himself as a “people person” who is “making this world a better place than I found it.”

I am driven to make things better from an overall economic, social and environmental standpoint. I am passionate and a high achiever but also very much a people person.

Hate from a Wind/Solar Executive (Milton R. Howard, Terra-Gen)

By Robert Bradley Jr. -- March 20, 2023

“I am actually a geologist and a republican but your spread of misinformation is disgusting. Anything for a buck. But you know what Rob? Karma is a bitch.” (Howard to Bradley, below)

“Hate speech? Sounds like you cannot handle the arguments against wind and solar and batteries. What about consumers, taxpayers, and basic energy freedom? Classical liberalism and the free market are obviously not your thing. But don’t get angry about it.” (Bradley to Howard, below)

An unpleasant exchange on social media began with my response to a post from DOE Secretary Jennifer Granholm (or one of her handlers):

If there was one takeaway I hope folks took from #CERAWeek last week, it’s that America’s energy future and energy security depends on every sector working in concert to ensure we are prepared to meet and lead the moment.