Tennessee sues BlackRock over ‘misleading’ ESG strategy

The lawsuit claims the $9.1 trillion firm misled consumers about the scope and effects of its ESG activity and released conflicting statements regarding ESG’s influence over its business decisions. 

By Anna Hrushka • Dec. 19, 2023

Banks are excluded from EU’s human rights, due diligence regulation — for now

Despite opposition to leaving financial institutions out, the final draft of the Corporate Sustainability Due Diligence Directive only states the sector may need to comply at a later date.

By Lamar Johnson • Dec. 19, 2023

Explore the 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

Navy Federal sued over alleged mortgage disparity by race

The credit union last year approved 48.5% of mortgage applications from Black borrowers, but 77.1% from White ones, CNN found. The gap drew comparisons to similar numbers from Wells Fargo in 2020.

By Dan Ennis • Dec. 19, 2023

COP28 takeaways: More than $7B mobilized for food system climate action

With the end of the U.N. climate summit, here's a final tally of some of the major financial commitments and sustainability pledges meant to transform the agricultural and food sectors. 

By Sarah Zimmerman • Dec. 18, 2023

Goldman Sachs to liquidate Paris-aligned climate ETF in new year

The fund closure bookends a year of contraction for the sustainable funds market, though the financial services firm said the move is not indicative of its broader positions.

By Lamar Johnson • Dec. 15, 2023

House panel to subpoena BlackRock, State Street on ESG practices

House Judiciary Committee Chair Jim Jordan will subpoena four firms for more answers as to whether the companies’ climate-related efforts violate federal antitrust laws, Bloomberg reported.

By Gabrielle Saulsbery • Dec. 14, 2023

Companies setting their own carbon prices without global standard: Reuters

The new analysis from the Climate Disclosure Project has found companies’ internal carbon prices range anywhere from under $1 to $1,600 per metric ton of carbon emissions.

By Lamar Johnson • Dec. 13, 2023

Vanguard, Arjuna Capital issued House Judiciary subpoenas over ESG probe

The committee is seeking information from the two asset management firms for its investigation into whether industry climate alliances violate antitrust law.

By Lamar Johnson • Dec. 12, 2023

Final SEC climate disclosure rule pushed to April 2024

The long-awaited timing update comes via the Biden administration’s regulatory agenda for next year, which also unveiled new timetables for other ESG-related proposals.

By Lamar Johnson • Dec. 7, 2023

COP28 Finance Day rundown: US pledges $3B to Green Climate Fund, think tank launches

The United States’ contribution is part of a record funding round for the GCF and one of more than 40 pledges on the day.

By Lamar Johnson • Dec. 6, 2023

Disney says ESG policies could cut into profits

Oklahoma’s state treasurer said the filing proves taking environmental, social and governance factors into account diminishes shareholder returns.

By Lamar Johnson • Dec. 4, 2023

JPMorgan, Citi, Goldman Sachs and others launch task force to scale financing for UN’s sustainable goals

The taskforce, which is spearheaded by several banks and financial institutions, will focus on helping developing economies and increasing their access to sustainable capital.

By Lamar Johnson • Nov. 30, 2023

IRS and Treasury propose clean energy investment tax credit updates

The proposed regulations would further define what qualifies as an ITC-eligible energy property and address Inflation Reduction Act-related wage and apprenticeship requirements.

By Joe Burns • Nov. 28, 2023

Deloitte, EY partner with tech to accelerate clients’ sustainability goals

Deloitte is linking up with IBM, while EY collaborates with AspenTech, as the two consulting firms look for software tools to help mitigate companies’ carbon footprint.

By Zoya Mirza • Nov. 28, 2023

NYU’s Stern calls for system overhaul in ESG ratings

Environmental, social and governance investing should center on companies’ impacts on the environment and society rather than shareholder profit, the report argues.

By Lamar Johnson • Nov. 27, 2023

State pensioner hits Oklahoma with lawsuit over its anti-ESG law

The plaintiff alleges the state’s Energy Discrimination Elimination Act, which blacklists financial institutions that boycott oil and gas companies, is unconstitutional and hurts beneficiaries.

By Zoya Mirza • Nov. 27, 2023

BlackRock nabs $1B for energy transition infrastructure fund

The Evergreen Infrastructure fund aims to invest in businesses focused on energy security and has already acquired a portfolio of renewable investments.

By Lamar Johnson • Nov. 20, 2023

JPMorgan to include low-carbon power generation in climate risk calculations

The bank said it would reduce financing in the oil and gas sector and increase financing for zero- and low-carbon power generation as part of its new “Energy Mix” policy.

By Zoya Mirza • Nov. 20, 2023

CalPERS aims to double climate investments to $100B by 2030

The country’s largest pension fund said it would integrate ESG into its investment strategy and divest from companies “without credible net-zero plans.”

By Zoya Mirza • Nov. 16, 2023

The ESG battle: 4 key states shaping regulatory discourse in the US

Left-leaning California and New York and conservative-led Florida and Texas have stepped up regulatory measures to underscore ESG’s role — or lack thereof — in their jurisdictions.

By Lamar Johnson , Zoya Mirza • Nov. 16, 2023

FDIC proposes adoption of Fair Hiring in Banking Act

The proposal would relax employment restrictions, eliminating the need for individuals convicted of certain minor offenses to seek approval before being able to work at federally insured institutions.

By Lamar Johnson • Nov. 15, 2023

Banks might dodge EU’s supply chain sustainability regulations

The proposed carveout for financial institutions would exclude them from having to submit climate transition plans.

By Lamar Johnson • Nov. 14, 2023

ESG and sustainability conferences to keep on your radar for 2024

Upcoming events will cover sustainable finance, corporate strategy and governance, climate change, supply chain, social impact and more.

By Zoya Mirza , Lamar Johnson • Updated June 7, 2024

Making the case for women-owned banks

Three women-owned banks have emerged in the last several years with the shared goal of increasing access to capital for female entrepreneurs.

By Anna Hrushka • Nov. 13, 2023

BlackRock invests $550M in Occidental’s industrial-scale direct air capture plant

The Texas-based Stratos facility is expected to be operational in 2025 and designed to capture up to 500,000 metric tons of CO2 per year.

By Lamar Johnson • Nov. 13, 2023