Corporate Governance: Page 16
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Drew Angerer via Getty Images
House Oversight Committee probes IRS over ESG policies
Committee Chair James Comer asked IRS Commissioner Daniel Werfel to explain how the agency ensures state retirement plans invest for the “exclusive benefit” of enrollees.
By Zoya Mirza • June 11, 2024 -
Michael Santiago/Getty Images via Getty Images
SEC asks organizations to complete diversity self-assessment
The agency said it will use the voluntary disclosures from its regulated firms to identify any trends and progress on diversity-related activities.
By Lamar Johnson • June 10, 2024 -
Chip Somodevilla via Getty Images
SEC views more shareholder proposals as micromanagement efforts
After a 2021 change in no-action reviews caused a backlash among institutional investors, Securities and Exchange Commission staff appear to side more with companies against activist shareholders.
By Robert Freedman • June 10, 2024 -
Zoya Mirza/ESG Dive
The fashion industry’s ‘urgent need’ for sustainable practices
It is “incumbent” on the industry to “bring new solutions forward,” said experts and stakeholders at the United Nations Fashion and Lifestyle Network annual meeting.
By Zoya Mirza • June 6, 2024 -
Mario Tama via Getty Images
Citi boosts paid parental leave to match industry peers
The bank is giving birth mothers an additional eight weeks of recovery time, bringing total leave to 24 weeks, in line with policies by Morgan Stanley and Barclays.
By Dan Ennis • June 5, 2024 -
Spencer Platt/Getty Images via Getty Images
Sierra Club, NRDC drop legal challenges to SEC climate rule
The two environmental groups have decided to focus resources elsewhere to improve climate-related financial disclosures.
By Lamar Johnson • June 5, 2024 -
Fahroni via Getty Images
Most M&A buyers would pay 3% extra for a company with a good ESG profile
ESG is playing a bigger role in dealmaking than ever before, Deloitte said.
By Jim Tyson • June 4, 2024 -
Getty Images via Getty Images
IFRS, GRI seek full interoperability as global jurisdictions align with ISSB
The organization behind the International Sustainability Standards Board also said jurisdictions accounting for 55% of global GDP are aligning with its frameworks.
By Lamar Johnson • June 3, 2024 -
Mario Tama / Staff via Getty Images
Bank of America tweaks its restriction on firearms, energy lending
New language indicates lending decisions go to senior risk officials for case-by-case evaluation, rather than being a non-negotiable “no.”
By Dan Ennis • June 3, 2024 -
Brandon Bell via Getty Images
ExxonMobil’s ongoing war on ESG
The oil major is forging ahead with legal action against shareholders who pushed for climate action, despite resistance from state funds and finance officials who have rallied against its suit.
By Zoya Mirza , Lamar Johnson • Updated June 18, 2024 -
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Google, Meta, Microsoft, Salesforce launch coalition to contract carbon removal credits
The Symbiosis Coalition aims to purchase up to 20 million tons of nature-based carbon removal credits for the tech companies by 2030.
By Zoya Mirza • May 29, 2024 -
Apu Gomes via Getty Images
ExxonMobil CEO, board slate approved despite public opposition
Darren Woods and the oil major’s board of directors were re-elected at Wednesday’s annual board meeting, despite several shareholders protesting Exxon’s suit against its investors.
By Lamar Johnson • May 29, 2024 -
Joe Raedle / Staff via Getty Images
American Airlines pilot’s anti-ESG lawsuit certified as class action
The size of the certified class is expected to exceed 100,000, according to court documents, as the airline is accused of violating its ERISA duties.
By Lamar Johnson • May 28, 2024 -
Sean Gallup via Getty Images
Scope 3 emissions reporting is a ‘when,’ not an ‘if’ for companies: Bayer, Zycus execs
ESG experts from the pharmaceutical company and procurement software provider made the case for reporting on scope 3 emissions early during a panel discussion.
By Suman Bhattacharyya • May 28, 2024 -
Brandon Bell via Getty Images
Judge green lights ExxonMobil’s suit against Arjuna Capital, dismisses Follow This
Texas’ Northern District Court said it would not drop the oil giant’s lawsuit against its activist investors, but dismissed Netherlands-based Follow This as it fell outside its jurisdiction.
By Zoya Mirza • May 24, 2024 -
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JPMorgan, Morgan Stanley shareholders modestly support Indigenous rights, climate proposals
While voters did not approve shareholder resolutions at either meeting, the results displayed similar, if not greater, support as nearly identical proposals at other large U.S. banks.
By Lamar Johnson • May 24, 2024 -
Scott Barbour via Getty Images
Shell shareholders approve diluted climate strategy at annual meeting
Shareholders also rejected a resolution from shareholder activist Follow This to align the oil major’s scope 3 goals with the Paris Agreement.
By Lamar Johnson • May 23, 2024 -
Win McNamee via Getty Images
State finance officials, fund trustees join CalPERS to oppose ExxonMobil slate
A group of 13 state officials and pension plan leaders have urged major asset managers to vote against the oil major’s board and CEO at its May 29 annual meeting.
By Zoya Mirza • May 23, 2024 -
(2021). [Photograph]. Retrieved from Office of the Texas Governor.
House Democrats probe Texas, Florida over financial impact of anti-ESG laws
Both conservative-led states have laws in place that ban consideration of ESG factors within state funds and policies, leading to divestments from firms that allegedly boycott fossil fuels.
By Zoya Mirza • May 22, 2024 -
Permission granted by Kyndryl
Delta’s 2023 emissions exceeded pre-pandemic levels as air travel bounced back: report
While the airline’s overall emissions topped its 2019 baseline, its scope 1 and 2 emissions remain below pre-pandemic levels.
By Lamar Johnson • May 22, 2024 -
Max Whittaker via Getty Images
CalPERS to vote against ExxonMobil directors at shareholder meeting
The country’s largest pension fund said it would oppose appointment of all 12 of the oil giant’s board of directors, citing its lawsuit against Arjuna Capital and Follow This.
By Zoya Mirza • May 21, 2024 -
Courtesy of BCG
Q&AHow companies should approach compliance under multiple climate reporting regulations: BCG
Companies may need to reorganize as climate disclosure mandates take shape, says Tim Mohin, a partner and director at Boston Consulting Group.
By Suman Bhattacharyya • May 20, 2024 -
Max Whittaker via Getty Images
CalPERS to commit $25B to private market climate solutions
The allocation is part of the California pension fund’s strategy to double its climate investments to $100 billion by 2030, which it announced last year.
By Zoya Mirza • May 17, 2024 -
Leon Neal via Getty Images
Lego links employee compensation to decarbonization goals
Though the new performance metric is primarily linked to the company’s direct emissions, Lego said it aims to “expand” it over time to include scope 3 as well.
By Zoya Mirza • May 16, 2024 -
Andrew Burton via Getty Images
BlackRock shareholders appoint Aramco CEO to board, despite pushback
A senior strategist for Sierra Club’s Fossil-Free Finance campaign said shareholders cast “concerning votes” on climate-related issues and “appear timid” to engage with BlackRock.
By Lamar Johnson • May 16, 2024
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