The Telegraph
Pressure to go green will trigger more corporate splits
There is a logic to breaking up traditional business into green and legacy units
The demand by the activist hedge fund manager Daniel Loeb that the oil giant Shell split itself into its fossil fuel and green energy units this week certainly came with plenty of grandiose promises. Loeb, and his Third Point fund, want to save the planet, and make themselves a bundle of money at the same time. Smart.
In truth, there is plenty wrong with Loeb’s attack on Shell, and the chances of success are not, to put it mildly, very high.
And yet, there is the kernel of an idea in there, and one that could matter to far more than just the energy industry. In reality, Shell might well be worth more stripped of its legacy business, and its focus on alternative energies might well sharpen up.
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