Finance

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    More companies are tying ESG metrics to executive compensation: WTW

    Despite political blowback in the U.S., companies are increasingly incorporating ESG metrics into performance measures and incentive plans, according to the insurance services provider.

    By Suman Bhattacharyya • May 8, 2024
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    Oklahoma adds Barclays to anti-ESG list

    The British bank joins JPMorgan Chase, BlackRock, Bank of America, Wells Fargo and State Street and eight other financial institutions on the list.

    By Rajashree Chakravarty • May 7, 2024
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    Trendline

    Top 5 stories from ESG Dive

    This year is shaping up to be a formative one for ESG, both on the regulatory and financial front, with the SEC’s climate disclosure rule and the battle over shareholder rights and proposal approvals.

    By ESG Dive staff
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    Climate change to continue to drive inflation, especially in Global South

    ‘Decisive mitigation’ could curb the inflationary impacts of climate change, though some effects are unavoidable, researchers say.

    By Suman Bhattacharyya • May 6, 2024
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    BlackRock shareholders urged to oppose Aramco CEO’s board re-appointment

    The New York City Comptroller said Aramco and BlackRock’s prior business relationships compromise Amin Nasser’s ability to serve as an independent member of the board.

    By • May 2, 2024
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    Brookfield, Microsoft ink largest-ever corporate clean energy deal for 10.5 GW

    Brookfield will deliver wind, solar and “new or impactful carbon free energy generation technologies” to Microsoft between 2026 and 2030.

    By Ethan Howland • May 2, 2024
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    Indigenous rights, climate proposals receive votes at Citi, Wells Fargo meetings

    A proposal for banks to examine their policies on mitigating risks to Indigenous Peoples rights received 26% support at Citi. Wells Fargo declined to share preliminary results.

    By • May 1, 2024
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    CalSTRS reports issues in calculating emissions of $336B portfolio

    The California pension fund said it would delay disclosing its 2023 carbon footprint until 2025, citing significant data and calculation issues.

    By • April 30, 2024
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    Citi achieves $441B of its $1 trillion sustainable finance 2030 goal: report

    The bank has also met more than half of its goals to reduce its operational footprint by 2025.

    By • April 30, 2024
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    UN’s Net-Zero Insurance Alliance disbands and rebrands

    Following the departure of several high-profile members in 2023, NZIA is no more. Its work will be continued by a new Forum for Insurance Transition to Net Zero.

    By • April 29, 2024
  • GRID Alternatives employees Jimmy Chit Ming Cheung (L) and Edward Aguilar carry a panel as they install no-cost solar panels on the rooftop of a low-income household on October 19, 2023 in Pomona, Cal
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    IRS issues final guidance for IRA’s clean energy tax credit transferability mechanism

    “It is difficult to overstate the significance of today’s announcement for the clean energy market,” said Ray Long, CEO and president of the American Council on Renewable Energy.

    By Diana DiGangi • April 29, 2024
  • Wind turbines operate at a wind farm in Coachella Valley, as vehicles drive on a highway below.
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    BlackRock, Temasek decarbonization venture raises $1.4B

    Decarbonization Partners surpassed its initial goal of $1 billion for its first late-stage venture capital fund.

    By • April 26, 2024
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    Kate Tornone/ESG Dive
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    Citizens Bank funds green jobs program for New York’s offshore wind sector

    The bank’s philanthropic arm will commit $600,000 over two years to financially support Brooklyn-based youth in pursuing careers in the renewable energy sector.

    By • April 26, 2024
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    BofA, Goldman clean energy ratio proposals fail, despite some shareholder support

    The resolutions failed to pass despite over a quarter of voters supporting them before each of the banks' boards.

    By • April 25, 2024
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    Oklahoma group raises red flag on anti-ESG law as Republicans weigh rollback

    The Oklahoma Rural Association said municipalities are facing increased borrowing costs, as state representatives look to exempt subdivisions from the law.

    By • April 24, 2024
  • A closeup of JPMorgan Chase's headquarters in New York.
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    JPMorgan warns clean energy transition could take ‘decades or generations’

    New research from the U.S. bank pointed to inflation, high interest rates and geopolitical issues as key roadblocks delaying the shift from fossil fuels to renewable energy.

    By • April 24, 2024
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    Net-Zero Asset Owner Alliance’s updated target-setting to cover all private assets

    The fourth edition of the protocols will also include guidance for members to set 2030 goals aligned with the Paris Agreement.

    By • April 19, 2024
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    House GOP spearheads legislation to strike down SEC climate disclosure rule

    The Financial Services Committee advanced a Congressional Review Act challenge to the rule by a 28-22 vote split along party lines.

    By • April 18, 2024
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    Opinion

    The time is ripe for utilities to play a larger role in the energy transition

    Utilities should provide upfront support to low- and moderate-income customers customers for residential electrification and decarbonization measures to prevent them from being stuck on the existing fossil fuel systems.

    By Dan Bakal • April 18, 2024
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    German energy company RWE issues first pair of US green bonds for $2B

    This marks RWE’s first foray into the nation’s bond market, with plans to issue $3-3.5 billion in green bonds annually in the U.S. and Europe until 2030.

    By • April 17, 2024
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    Texas schools fund adopts ‘ESG skeptical’ proxy voting stance

    The move comes after the Lone Star State pulled $8.5 billion from BlackRock last month over its stance on fossil fuels.

    By • April 17, 2024
  • Wind turbines spin over a field of canola, also called rapeseed, at a wind park on May 10, 2023 near Pinnow, Germany.
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    CIP acquires 1.3 GW of New York onshore wind projects

    Copenhagen Infrastructure Partners made the acquisition through its CI V fund, which has raised billions in capital commitments for greenfield renewable energy investments.

    By Diana DiGangi • April 16, 2024
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    Capital One shareholders urged to approve scope 3 target-setting proposal

    The New York State Common Retirement Fund said the targets are necessary to fully assess the bank’s climate risk exposure and mitigation strategies.

    By • April 15, 2024
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    Toyota clinches $150M for new climate-focused fund

    The fund will build on the car manufacturer’s inaugural 2021 climate fund, which has backed climate tech startups and carbon capture and storage companies.

    By • April 15, 2024
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    Chevron leads $45M investment in carbon removal company Ion Clean Energy

    The energy giant made the investment through its New Energies division, in collaboration with Carbon Direct Capital.

    By • April 10, 2024
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    Lack of uniform standards and disclosures a roadblock to scaling transition finance: report

    Without formal definitions, metrics and transition finance instruments endorsed by international organizations, broader adoption could stall, the CFA Institute said.

    By Suman Bhattacharyya • April 10, 2024