Finance: Page 3

  • Worker inside Toyota's $1.3 billion EV plant in Georgetown, Kentucky.
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    Courtesy of Toyota
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    DOE doles out another $50M to support EV manufacturing

    The Biden-Harris administration said the funding will go to six states with “significant automotive workforces” to help suppliers adapt their facilities.

    By Haley Cawthon • Aug. 27, 2024
  • Flags fly above the entrance of the BlackRock offices.
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    Andrew Burton via Getty Images
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    BlackRock hit with cease-and-desist by Indiana secretary of state

    The Hoosier State alleged 54 counts of securities violations in what BlackRock called “a politically motivated attack.”

    By • Aug. 26, 2024
  • Visual displaying components of ESG. Explore the Trendline➔
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    TarikVision via Getty Images
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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
  • Wind turbines operate at a wind farm in Coachella Valley, as vehicles drive on a highway below.
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    Mario Tama via Getty Images
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    First national U.S. green bank launches with IRA funding

    The Coalition for Green Capital said it’s open for business and seeking to build a U.S. network of green banks that will mobilize capital for clean energy.

    By • Aug. 23, 2024
  • A man walks into a BlackRock office building.
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    Andrew Burton via Getty Images
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    BlackRock’s support for E+S proposals whittles away in 2024 proxy season

    The nation’s largest investment manager noted a rise in shareholder proposals focused on environmental and social matters and  anti-ESG filings.

    By • Aug. 22, 2024
  • The World Bank headquarters shown at night.
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    Win McNamee via Getty Images
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    World Bank raises $6.5B for pair of sustainable development bonds

    The two transactions pulled in over 300 orders and attracted capital from a diverse investor group, including bank treasuries, central banks and asset managers.

    By • Aug. 22, 2024
  • Climate change protestors are seen marching.
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    Asanka Ratnayake via Getty Images
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    ​​Franklin Templeton, Sun Life subsidiaries join Climate Action 100+ exodus

    The financial institutions’ withdrawals came after Goldman Sachs’ asset management arm announced it was leaving the climate action investor group.

    By • Aug. 19, 2024
  • A data processing and storage center.
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    Andrey Semenov via Getty Images
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    Greystar expands into infrastructure development

    The nation’s largest multifamily housing owner is extending its reach into new sectors including clean power, transition fuels and data centers.

    By Mary Salmonsen • Aug. 19, 2024
  • Aerial view of Kansas City with a KC Streetcar present in street
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    TriggerPhoto via Getty Images
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    Federal judge issues permanent injunction on Missouri anti-ESG rules

    The court ruled that a pair of the state’s rules on socially responsible investing are preempted by national laws covering securities and pensions — and also unconstitutional.

    By • Aug. 16, 2024
  • An aerial view of a Texas Oil Refinery
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    Brandon Bell via Getty Images
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    Texas adds NatWest to its fossil fuel divestment list

    The list that now includes 16 companies has only one U.S. firm, BlackRock, raising questions on whether Texas avoids punishing Wall Street giants for their fossil fuel stance.

    By Rajashree Chakravarty • Aug. 16, 2024
  • People pass the offices of Standard Chartered with the company's logo visible on the building.
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    Matt Cardy via Getty Images
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    Standard Chartered unveils account linking clients’ rates to their ESG performance

    The corporate banking product will be first piloted in the bank’s Hong Kong and Singapore markets before a further rollout “in due course.”

    By • Aug. 14, 2024
  • Colleagues at business meeting in conference room.
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    FangXiaNuo via Getty Images
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    Anti-ESG proposals drove the increase in ESG proxy submissions: Morningstar

    “For the first time, the growth in new resolutions was dominated by proposals from ‘anti-ESG’ filers,” per Morningstar Sustainalytics’ director of stewardship research and policy.

    By • Aug. 13, 2024
  • A man smokes outside a Standard Chartered bank location.
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    Matthew Lloyd via Getty Images
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    ​​Standard Chartered scores $235M green loan for Texas solar plant

    The six-year loan will back the development of a 1.35 million square foot plant which will be operated by renewable energy company Trinasolar.

    By • Aug. 13, 2024
  • The Louisiana State Capitol Building in Downtown Baton Rouge
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    CRobertson via Getty Images
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    Louisiana gives NZBA members underwriting approval despite anti-ESG law

    Net-Zero Banking Alliance members were approved as underwriters for state bonds “under a yellow caution flag.”

    By • Aug. 12, 2024
  • A stock ticker scrolls behind a Goldman Sachs banner at the stock exchange
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    Chris Hondros via Getty Images
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    Goldman Sachs latest to depart Climate Action 100+

    The firm’s exit follows other high-profile financial institutions that quit CA100+ earlier this year, including JPMorgan Asset Management and State Street Global Advisors.

    By • Aug. 12, 2024
  • Wind turbines spin behind a solar energy park
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    Sean Gallup via Getty Images
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    Blackstone acquires majority stake of renewables engineering firm

    While the terms of the deal with Westwood Professional Services were not disclosed, a Blackstone exec said its transition business has committed $1.3 billion in investments since June.

    By • Aug. 9, 2024
  • Senate Holds Hearing On Reform Of US Financial Market Regulations
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    Brendan Smialowski / Stringer via Getty Images
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    SEC defends its authority for climate disclosure rule in court

    The agency said its climate rule will help to better inform investors with “more detailed, consistent, and comparable information” in replying to legal challengers.

    By • Aug. 8, 2024
  • Close up high angle Asian businesswoman working with her coworker in meeting room
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    Edwin Tan via Getty Images
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    Nat’l Association of Counties defends against attacks on its fiduciary duties

    The organization representing about 3,000 U.S. counties passed a resolution opposing interference in its investment decisions as part of its 2024-25 platform.

    By • Aug. 6, 2024
  • Bill Gates speaks onstage at a summit.
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    Bennett Raglin via Getty Images
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    Bill Gates-backed energy investment firm pulls in $839M for new climate fund

    Breakthrough Energy Ventures’ third fund will have an investment focus similar to that of its predecessors and target five key areas in climate innovation, including energy and transportation.

    By • Aug. 6, 2024
  • SEB vs. Wells Fargo, DEI hiring
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    Justin Sullivan via Getty Images
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    Wells Fargo faces lawsuit for alleged sham DEI hiring effort

    The bank is said to have interviewed diverse candidates for jobs that were already filled or for which they weren’t qualified to polish its DEI credentials.

    By Robert Freedman • Aug. 6, 2024
  • Rep. Bill Huizenga speaks with glasses and a pen in one hand.
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    Kevin Dietsch via Getty Images
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    House Republicans issue final ESG Working Group report

    The Republican group housed within the House Financial Services Committee said the current proxy system is “an environment ripe for abuse.”

    By • Aug. 5, 2024
  • The exterior of the U.S. Capitol building in Washington, D.C.
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    Jemal Countess via Getty Images
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    Window to repeal SEC climate disclosure rule closes

    While congressional Republicans failed to repeal the rule through the Congressional Review Act, the rule is still being targeted by policy riders in the appropriations process.

    By • Aug. 2, 2024
  • Jim Jordan sits behind a podium with his right hand around a pen and resting on his chin. Out of focus, the podium reads "Mr. Jordan, Chairman."
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    Chip Somodevilla via Getty Images
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    House Judiciary probes Climate Action 100+ members as ESG investigation continues

    The Republican heads of the Judiciary Committee and one subcommittee sent letters to over 130 U.S.-based companies, systems and funds associated associated with CA100+.

    By • Aug. 1, 2024
  • A factory is seen with a cloud of smoke behind it, demonstrating emissions.
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    Lukas Schulze/Getty Images via Getty Images
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    Dems back CFTC’s proposed guidance for voluntary carbon markets

    Nine Democratic lawmakers expressed support for the Commodity Futures Trading Commission’s proposed guidance for companies looking to list and trade carbon credits.

    By • Aug. 1, 2024
  • Executives are seen speaking during a meeting.
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    AzmanL via Getty Images
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    Approval rates for environmental, social proposals continue to crater despite record submissions

    Average support for environmental and social shareholder proposals was at just 16.2% through the first half of the year, Diligent Marketplace Intelligence reported.

    By • July 31, 2024
  • Spools of thread on a weaving machine
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    Courtesy of Unspun
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    Weaving tech company scores $32M to decarbonize fashion supply chains

    Unspun plans to expand the use of its 3D machinery which boosts circular production by localizing manufacturing capabilities.

    By Lara Ewen • July 31, 2024