The world of ESG regulation and investing was already suffering a period of shaky confidence even before President Donald Trump returned to the White House. Now, companies are facing a new period of uncertainty when it comes to Environmental, Social, and Governance policies. Reporter Frances Schwartzkopff tells Akshat Rathi why the EU is rolling back some ESG legislation. And reporter Saijel Kishan explains that many companies today are still keeping their ESG plans in place — but just not talking about it.

Explore further:

• Past episode with activist Lucie Pinson about changing banks’ investing strategies from the inside
• Past episode with California Democratic Representative Ro Khanna about what to expect in Trump’s second term in the White House
• Past episode with Eric Toone of Breakthrough Energy Ventures on the kinds of green startups he believes can be the most profitable

Zero is a production of Bloomberg Green. Our producer is Mythili Rao. Special thanks this week to Aaron Rutkoff, Siobhan Wagner and Jessica Beck. Thoughts or suggestions? Email us at zeropod@bloomberg.net. For more coverage of climate change and solutions, visit https://www.bloomberg.com/green.