Europe never defunded its oil and gas industry. I have no idea of what you are talking about. Germany used to buy Russian gas. The European oil industry is mostly in France and the UK (and Norway).

Anyway ESG never was big in Europe and is now entirely dead. The EU mandates far better reporting in the CSRD and the texts linked to the european green taxonomy with actually meaningful KPIs and financial data having to be disclosed.

A quick look at the gap between ESG scores and EU Green taxonomy alignment results will tell you all you need to know about ESG scores by the way. They are meaningless.