Finance: Page 17
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Spencer Platt/ESG Dive, data from Getty Images
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 -
(2021). [Photograph]. Retrieved from Office of the Texas Governor.Deep Dive
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 -
Deep Dive
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 -
House Republicans argue Labor Department ESG rule runs afoul of tax code
The Committee on Ways and Means’ majority raised objections to the Biden administration rule and called it a tactic to “use retirement savings to finance a political agenda.”
By Lamar Johnson • Nov. 8, 2023 -
How tech, venture capital can help food industry meet 2030 emissions goals
Efforts like feed additives for cattle and implementing solar panels on farms can help producers decrease their carbon footprint, Ceres said in its latest report.
By Chris Casey • Nov. 8, 2023 -
Credit union regulator proposes rule loosening hiring restrictions
The National Credit Union Administration Board aims to expand career opportunities for individuals convicted of certain minor offenses and advance financial inclusion and equity within the credit union system.
By Zoya Mirza • Nov. 7, 2023 -
Texas Comptroller adds 5 companies to divestment list for fossil fuel stance
The additions are part of a growing list of names drawn by the Lone Star state, which now mentions more than 350 investment funds and 15 companies, including BlackRock, BNP Paribas and UBS.
By Lamar Johnson • Nov. 6, 2023 -
House Judiciary subpoenas ESG, net-zero advocates alleging antitrust violations
Chair Jim Jordan subpoenaed financial coalition GFANZ and advocacy group As You Sow, whose CEO called the warrant “unfounded” and said the underlying allegations are “twisting the facts.”
By Lamar Johnson • Nov. 3, 2023 -
TD buys carbon removal credits
Over four years, TD said it will purchase 27,500 metric tons of direct-air-capture carbon dioxide removal credits from Occidental Petroleum. Financial details of the transaction were not disclosed.
By Gabrielle Saulsbery • Nov. 1, 2023 -
Republican AGs continue fight against Biden ESG rule
A coalition of 26 state attorneys general said it is willing to fight the Labor Department rule allowing ESG considerations for employee retirement plan managers all the way to the U.S. Supreme Court.
By Lamar Johnson • Oct. 30, 2023 -
Trio of federal agencies update bank guidelines for financial climate risks
Bank regulators issued new guidance for how large institutions should handle climate risk and updated an anti-redlining law to assign them more responsibility for climate risks.
By Lamar Johnson • Oct. 26, 2023 -
$2.7B in assets pulled from sustainable funds market: Morningstar
Sustainable fund closures outpaced new launches for the first time since 2020, and outflow outpaced investments for the fourth consecutive quarter, according to the financial research firm.
By Lamar Johnson • Oct. 25, 2023 -
UN-backed alliance members now represent $9.5T in assets under management: report
The Net Zero Asset Owner Alliance said 69 of its members have set intermediate targets to help align operations with a global goal of net-zero emissions by 2050.
By Lamar Johnson • Oct. 24, 2023 -
Deep Dive
7 ESG trends influencing corporate strategy
Developments in the ESG landscape directing investor decisions include the consolidation of reporting frameworks, the rise of AI and data metrics, social responsibility and impending regulation from the SEC.
By Lamar Johnson , Zoya Mirza • Oct. 23, 2023 -
Investors not willing to sacrifice returns for ESG performance: report
Retail investors care about incorporating ESG factors into their decision-making when they are “financially material” for company operations, according to recent research.
By Zoya Mirza • Oct. 23, 2023 -
SEC drops ESG from exam priorities for 2024
The agency’s office responsible for promoting compliance and monitoring market risk no longer lists environmental, social and governance investing as a priority for next year.
By Lamar Johnson • Oct. 19, 2023 -
Citigroup’s $1B racial equity program gets Labor Department greenlight
The department’s advisory opinion clears the way for the investment bank’s program, which includes plans to subsidize investment management fees for minority- and women-owned plan managers.
By Lamar Johnson • Oct. 18, 2023 -
Climate change leading cause for excluding companies from portfolios: report
A coalition of nonprofits released a financial exclusions tracker of companies that have been blacklisted by banks and investors over factors such as climate change, weapon and tobacco use, and human rights violations.
By Zoya Mirza • Oct. 17, 2023 -
BlackRock decarbonization venture with Temasek reached $1B in climate tech investments in Q3
CEO Larry Fink said the joint venture with the Singapore-based investment firm committed a first round of funding to five companies developing technologies that will be critical to the clean energy transition.
By Lamar Johnson • Oct. 13, 2023