A company’s energy affairs competence is fundamental to its future ESG profile. The E metrics are relatively well understood. S aspects are increasingly coming into focus. But has G been under-examined? A company’s energy affairs competence – where it will get the energy it uses, how well it will use that energy, and what it will do about the two major polluting by-products – CO2 and PM2.5 – is fundamental to its future ESG profile. The environmental aspects are relatively well understood. The social aspects are increasingly coming into focus. But is there a risk that the governance aspect has been under-examined?