Finance: Page 11
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JPMorgan appoints new global head of sustainable solutions
Chuka Umunna, a former British MP, will lead the bank's ESG and sustainable solutions arm alongside his role overseeing Europe, the Middle East and Africa.
By Lamar Johnson • July 25, 2024 -
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Energy storage industry sees 117% increase in corporate funding in H1 2024: Mercom
Storage deal volume reached $15.4 billion in the six months ending June 30, but funding for smart grid companies dropped 11% from the year-earlier period to $1.8 billion, Mercom Capital Group said.
By Brian Martucci • July 25, 2024 -
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H&M’s ‘green’ financing tool supports supplier sustainability
The collaborative program aims to help manufacturers overcome the funding hurdles of implementing sustainable practices. Here's how.
By Kelly Stroh • July 24, 2024 -
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COP29COP29 president lays out climate action priorities ahead of summit
Azerbaijan’s Mukhtar Babayev said he’s committed to boosting climate finance and finalizing the implementation of the Paris Agreement’s Article 6 at this year’s summit.
By Zoya Mirza • July 23, 2024 -
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Oklahoma judge permanently blocks state’s anti-ESG law
The ruling extends a temporary injunction against the law issued in May, though Oklahoma Attorney General Gentner Drummond said he will bring an appeal to the state Supreme Court.
By Lamar Johnson • July 23, 2024 -
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Sustainability reporting, ESG management roles on the rise: Deloitte
The accounting firm’s survey of 300 executives at public companies pointed to an increase in sustainability oversight as disclosure requirements mount.
By Zoya Mirza • July 22, 2024 -
Kate Tornone/ESG Dive
Challenge to Labor Dept. ESG rule kicked back to lower court
A U.S. Appeals Court vacated a prior ruling, which relied on the overturned Chevron doctrine, and sent it back to Texas’ Northern District “given the upended legal landscape.”
By Lamar Johnson • July 22, 2024 -
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Vanguard clients ask new CEO to prioritize climate risk
Over 8,000 clients urged Salim Ramji to “steer Vanguard in a new direction” and prioritize climate risk as part of the firm’s risk management strategies.
By Lamar Johnson • July 19, 2024 -
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‘Polarizing’ state laws risk ‘fragmenting’ system: bank regulator
Acting Comptroller of the Currency Michael Hsu said banks are increasingly asked by state policies to “pick a side in service of performative politics rather than deliberative policy.”
By Lamar Johnson • July 18, 2024 -
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SEC rule jumpstarts Corpay CAO’s ESG push
The climate disclosure rule’s March passage helped push the payments player to double down on its ESG reporting strategy, Chief Accounting Officer Alissa Vickery said.
By Maura Webber Sadovi • July 18, 2024 -
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LevelTen Energy scores $65M to scale clean energy transition
The transaction infrastructure company connects renewable energy buyers, sellers and advisors and plans to use the financing to expand its platform.
By Zoya Mirza • July 17, 2024 -
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5 takeaways on costs, challenges of climate disclosure compliance
Complacency regarding the SEC’s now-stayed rules could leave companies “scrambling to try to get ready” once they are put in place, PwC’s Marc Siegel said.
By Maura Webber Sadovi • July 16, 2024 -
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BlackRock updates climate stewardship policies, targeting $150B in funds
The policies will initially apply to 83 European investment funds with $150 billion in assets under management and prioritize sectors and companies “critical” to the clean energy transition.
By Lamar Johnson • July 15, 2024 -
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House panel approves FY25 budget that strikes Labor Dept. ESG rule
The Republican-led House Appropriations Committee advanced a funding bill for the agency containing the policy rider.
By Lamar Johnson • July 12, 2024 -
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Senators press Jamie Dimon on alleged climate turnabout
The lawmakers, including Sen. Elizabeth Warren, D-MA, demanded answers from the JPMorgan Chase CEO on the bank's environmental "commitments" and "aspirations."
By Gabrielle Saulsbery • July 12, 2024 -
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SBTi calls on financial institutions to pilot net-zero standard
The climate target validation organization is looking for participants to test a standard that will encompass near- and long-term portfolio-wide goals.
By Lamar Johnson • July 11, 2024 -
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Sustainability is a key factor in improved financial performance: KPMG
Indicators like lower carbon dioxide emissions, land environmental impact reduction and business ethics policies are linked to increased gross profit margin, per a study of 2,617 companies.
By Suman Bhattacharyya • July 11, 2024 -
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Labor Department, challengers argue over ESG rule’s tiebreaker standard post-Chevron
A lawyer for the agency said he believes “the logic of the District Court's opinion would produce the same result” under the Loper Bright ruling.
By Lamar Johnson • Updated July 10, 2024 -
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38% of public companies ‘significantly misaligned’ to net-zero: Morningstar
Of more than 3,300 public companies, none are on track to hit the Paris Accords’ 2050 target, a study from the financial services revealed.
By Lamar Johnson • July 8, 2024 -
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Labor Department’s ESG rule trial to serve as litmus test for Chevron decision
A lower court’s dismissal of a challenge to the rule cited the now-overturned Chevron doctrine, though the agency believes the rule will survive.
By Lamar Johnson • Updated July 10, 2024 -
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Fidelity updates sustainable investing framework against regulatory backdrop
Fidelity’s international arm said its revised framework aims to “ensure ongoing alignment with transparency and disclosure requirements.”
By Zoya Mirza • July 2, 2024 -
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UN-backed group, others collaborate to boost global sustainable finance taxonomies
The United Nations Environment Programme Finance Initiative, Principles for Responsible Investment and the Climate Bonds Initiative aim to “harmonize taxonomy definitions and concepts.”
By Zoya Mirza • July 1, 2024 -
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Google invests in BlackRock-owned solar company to aid net-zero goals
The tech giant will invest in the buildout of Taiwan’s clean energy capacity for the rights to procure up to 300 MW of solar power from New Green Power’s development pipeline.
By Lamar Johnson • July 1, 2024 -
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IFRS partners with World Bank member to improve emerging market disclosures
The foundation behind the International Sustainability Standards Board signed a memorandum of understanding with the International Finance Corporation Thursday.
By Lamar Johnson • June 28, 2024 -
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BlackRock becomes first firm on Indiana treasurer’s ESG watchlist
“Contrary to the Treasurer’s assertion, BlackRock has been singularly focused on delivering performance” for the state’s pension fund, a firm spokesperson told ESG Dive.
By Lamar Johnson • June 25, 2024
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