Corporate Governance: Page 7

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    Understanding a company’s business is ‘critical’ for its decarbonization strategy, sustainability leaders say

    Executives at Responsible Business USA said cross-collaboration between leaders, teams and different regions of a company is essential for meeting sustainability goals.

    By • April 2, 2024
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    Citi says 71% of energy clients lack substantive transition plan or ‘ability to execute’

    The bank made the disclosure in its latest climate report in response to a proposal that had been put forward by shareholder advocacy group As You Sow.

    By • April 1, 2024
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    Trendline

    Top 5 stories from ESG Dive

    This year has shaped 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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    Scott Olson via Getty Images
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    Verizon joins RE100 climate initiative, builds on 2030 renewables goal

    The network provider previously said it aims to source or generate 100% renewable energy by the end of the decade.

    By • March 29, 2024
  • SEC Chair Gary Gensler testifies before Congress
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    SEC asks 8th Circuit not to pause climate rule pending challenges

    The agency said Liberty Energy and Nomad Proppant Services have “identified no imminent harm” that would justify halting the rule’s implementation.

    By • March 29, 2024
  • Nissan President and Chief Executive Officer Makoto Uchida.
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    Courtesy of Nissan Motor Co. Ltd
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    Nissan’s new EV plan aims for significant cost reduction

    ‘The Arc’ plan includes launching new EVs, manufacturing improvements and the adoption of new technologies to boost global sales.

    By Eric Walz , Michael Brady • March 29, 2024
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    Chris Jackson via Getty Images
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    Patients and social initiatives focus of sustainability strategy: AstraZeneca and Lilly

    Improving health outcomes requires better treatment, but “it also means [having] a healthy planet, which is integral to having a healthy body,” AstraZeneca’s CFO said at Responsible Business USA.

    By • March 28, 2024
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    "U.S. Securities and Exchange Commission headquarters" by AgnosticPreachersKid is licensed under CC BY 3.0
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    Opinion

    The SEC makes the call: Climate risk equals financial risk

    When the SEC’s climate disclosure rule is paired with other climate reporting directives, the shift within the financial landscape will be monumental.

    By Bob Hinkle • March 27, 2024
  • Jim Jordan, Chairman of the House Judiciary Committee, strikes the gavel to start a hearing.
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    House Judiciary subpoenas As You Sow CEO, expands antitrust probe

    The Republican-led committee has summoned Andrew Behar, head of the shareholder advocacy group, for a deposition later this week as part of its ongoing ESG probe.

    By • March 26, 2024
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    Andrew Burton via Getty Images
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    Column

    ESG isn’t just BlackRock’s fight

    If it seems like banks are backing off of their sustainability efforts, comments from Barclays, TD and UBS may give added perspective.

    By Dan Ennis • March 25, 2024
  • Containers of Nestle hot chocolate mix are seen on a store shelf.
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    Justin Sullivan via Getty Images
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    Nestlé launches pair of initiatives to decarbonize cocoa supply chain

    The global food company said its new projects aim to reduce and remove over 500,000 metric tons of carbon over a 20-year period.

    By • March 22, 2024
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    Joe Raedle via Getty Images
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    SEC to face all climate rule challenges in U.S. 8th Circuit Court of Appeals

    The agency had nine legal challenges to its rule requiring public companies to disclose certain climate risks consolidated into one venue.

    By • March 22, 2024
  • The curved banner of a Walmart store, the brand name in white letters and the characteristic yellow sunburst logo to the right, against a blue sky.
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    Daphne Howland/ESG Dive
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    Flexing for the planet: How Walmart crushed its supplier emissions target

    The retail giant leaned on education, financing and recognition to get its supply chain on board with Project Gigaton, a sustainability executive with the company told Supply Chain Dive.

    By Ben Unglesbee • March 22, 2024
  • Rep. Bill Huizenga speaks with glasses and a pen in one hand.
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    House GOP continues to hammer SEC over climate rule

    The House Financial Services Committee questioned the agency’s authority to promulgate the climate disclosure regulation both in the chamber and on the road.

    By • March 21, 2024
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    Olya Solodenko via Getty Images
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    Morningstar launches indexes on companies’ transition to low carbon economy

    The financial services firm believes the indexes offer “a very different way” for investors who want to target the climate transition, while “maintaining exposure to high carbon-intensive sectors.”

    By • March 20, 2024
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    Chip Somodevilla via Getty Images
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    Federal appeals court pauses SEC climate rule implementation

    The climate disclosure regulation is now on pause pending a review from the U.S. Fifth Circuit Court of Appeals, as the first of multiple challenges yields action.

    By • March 19, 2024
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    Courtesy of The Rockefeller Foundation
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    Q&A

    Rockefeller Foundation’s new CFO: Climate crisis is a ‘big motivator’

    Keith Olson took the finance reins of the 111-year-old philanthropic powerhouse earlier this month. He is an alum of the Bill & Melinda Gates Foundation.

    By Maura Webber Sadovi • March 19, 2024
  • A Shell tanker is seen in front of an oil station.
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    Jeff J Mitchell via Getty Images
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    Shell dilutes energy transition strategy, scraps 2035 decarbonization goal

    Despite scaling back some of its targets, the oil major said its goal to attain net-zero status by 2050 “remains at the heart of [its] strategy.”

    By • March 15, 2024
  • CEO leads a discussion among executives at the company
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    Support for ESG proposals fell by a third since 2021 record: Report

    “Politics clearly had a role to play and cast a chill on the top end of proposal voting,” according to Sustainable Investments Institute Executive Director Heidi Welsh.

    By • March 15, 2024
  • Gerald Johnson and UAW Vice President Mike Booth shake hands at GM's Arlington Assembly plant in June 2023.
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    Courtesy of General Motors
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    GM hires former Tesla exec as head of manufacturing and sustainability

    Jens Peter Clausen led efforts to scale the production of EV propulsion systems at the electric automaker’s Gigafactory 1 in Nevada.

    By Eric Walz • March 15, 2024
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    Mark Wilson via Getty Images
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    Target, Starbucks top racial and gender pay scorecard while Nike slides: report

    The scorecard, the seventh annual from Arjuna Capital, surveyed over 128 companies across seven sectors.

    By • March 14, 2024
  • Plastic waste on a sandy beach. Pollution of the waters of the world ocean by plastic. Polluted beach in Los Angeles, USA
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    As You Sow stays the course with plastic reduction resolutions despite ESG headwinds

    “I think this is a really difficult year for shareholder resolutions,” said Kelly McBee, circular economy manager at As You Sow. To date, its 2024 consumer packaging efforts target Altria, Amazon and others.

    By Maria Rachal • March 14, 2024
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    Determining if GHG is material to your company: KPMG’s ESG audit leader

    Maura Hodge said companies will need to take a quantitative and qualitative approach to gauge whether to disclose scope 1 and scope 2 emissions.

    By • March 13, 2024
  • A close up of Unilever's logo.
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    Christopher Furlong via Getty Images
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    Unilever updates climate action plan, targets scope 3 emissions reduction

    The consumer goods company said it plans to completely eliminate direct emissions and reduce indirect emissions by 42%, compared to a 2021 baseline, by the end of the decade.

    By • March 12, 2024
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    Maddie Meyer via Getty Images
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    Massachusetts pension fund updates ESG proxy voting policies

    The updates include additional information on how the state pension fund will vote on the “most important and scrutinized corporate governance topics among institutional investors.”

    By • March 12, 2024
  • West Virginia Attorney General Patrick Morrisey
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    Patrick Smith via Getty Images
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    10 Republican-led states file lawsuit to block SEC’s climate disclosure rule

    The challenge, led by West Virginia, was announced before the ink could dry on the agency’s final rule.

    By • March 8, 2024