Climate Week NYC 2024 kicks off with carbon removal deals, green banking coalition

The annual climate event launched with announced commitments to triple nuclear energy financing, decarbonization initiatives across the aviation sector and some carbon offset deals.

By Lamar Johnson • Sept. 24, 2024

Most global banks unprepared for climate change risks: report

A majority of banks lack clear climate adoption strategies, a Climate X survey of 50 of the world's largest commercial banks found.

By Suman Bhattacharyya • Sept. 24, 2024

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

State Street reduces support for E + S proposals, following other Big Three asset managers

State Street supported 6% of environmental and 7% of social proposals in the 2024 proxy season, confirming the nation’s largest asset managers all supported fewer such proposals than in 2023.

By Lamar Johnson • Sept. 23, 2024

Clean energy a ‘big winner’ as Fed cuts interest rates more than expected

Renewable energy projects are “very sensitive to the cost of capital,” particularly for capital-intensive technologies like offshore wind, said Mona Dajani, a partner at Baker Botts.

By Diana DiGangi • Sept. 23, 2024

JPMorgan creates role to oversee junior bankers’ ‘wellbeing’: memo

Ryland McClendon’s appointment comes amid a spike in concern over the workload and expectations of associates and analysts after a 35-year-old Bank of America banker died in May.

By Rajashree Chakravarty • Sept. 20, 2024

House GOP passes pair of anti-ESG bills targeting ‘woke’ investment policies

House Republicans passed a pair of bills this week aimed at pension funds and the Securities and Exchange Commission that Rep. Juan Vargas, D-Calif., said are “going nowhere” in a Democrat-controlled Senate.

By Lamar Johnson • Sept. 20, 2024

$29 trillion investor coalition urges governments to tackle climate crisis ahead of COP29

A coalition of over 530 financial institutions is urging policymakers to “take robust action” on climate change, including mandating climate-related disclosures and boosting sustainable investments.

By Zoya Mirza • Sept. 19, 2024

BlackRock, Microsoft, others form AI and energy infrastructure investment partnership

Microsoft President Brad Smith said the funding necessary to build out the data centers, AI factories and energy needed to power them “goes beyond what any single company or government can finance.”

By Lamar Johnson • Sept. 19, 2024

Under 25% of Vanguard’s 2024 proxy pilot participants chose ESG-centered policies

The program’s third-party ESG policy option was particularly popular with investors of one of the firm’s ESG funds, though just under a quarter of pilot participants picked the option overall.

By Lamar Johnson • Sept. 18, 2024

Occidental’s 1PointFive secures up to $500M from DOE for carbon removal

The Department of Energy’s Office of Clean Energy Demonstrations will provide the funding to develop a direct air capture hub which can remove 500,000 metric tons of carbon dioxide annually.

By Zoya Mirza • Sept. 17, 2024

House GOP members probing federal membership in green finance network

Leaders of the House Financial Services Committee are conducting an investigation into the participation of U.S. agencies in the Network for Greening the Financial System.

By Lamar Johnson • Sept. 17, 2024

Matt Damon-backed WaterEquity pulls $100M+ from Microsoft, Starbucks, others for new climate fund

The Water & Climate Resilience Fund aims to make safe water or sanitation accessible to 15 million people based across Africa, Asia and Latin America.

By Zoya Mirza • Sept. 16, 2024

SEC disbands its climate and ESG enforcement task force

The Securities and Exchange Commission said it will return its attention to greenwashing if it sees another spike in risk, an agency spokesperson told ESG Dive.

By Lamar Johnson • Sept. 13, 2024

Big banks pressed to stop financing livestock production over climate concerns

An open letter singles out JPMorgan Chase, Bank of America and other institutions for their support of food giants like JBS, saying lending activities undermine the sector’s environmental commitments.

By Sarah Zimmerman • Sept. 13, 2024

House Financial Services panel hearing probes proxy advisors’ ESG influence

Rep. Bill Huizenga, R-Mich., said advisors are becoming “de facto standard setters” for governance, while a witness compared them to consultants who help investors “sift through mountains of data.”

By Lamar Johnson • Sept. 12, 2024

Google taps direct air capture startup for latest carbon removal deal

The tech giant will purchase carbon removal credits from Holocene for $100 per ton of carbon dioxide, a price tag considered to be the lowest on record for direct air capture technologies.

By Zoya Mirza • Sept. 11, 2024

BofA closes $205M tax equity deal for carbon capture, clean fuel credits

Bank of America will purchase carbon capture and clean fuel production tax credits in a novel financing deal with biofuels producer Harvestone Low Carbon Partners.

By Lamar Johnson • Sept. 11, 2024

FERC greenlights BlackRock’s $12.5B purchase of Global Infrastructure Partners

The Federal Energy Regulatory Commission approved the transaction on the back of a blanket authorization it first granted the asset management firm in 2010.

By Lamar Johnson • Sept. 10, 2024

White House announces $7.3B financing for rural clean energy projects

The federal funding will support 10 GW in clean energy projects lowering electricity costs for cooperative utilities in 23 states, the White House said.

By Ethan Howland • Sept. 10, 2024

Nasdaq partners with Crux to help companies access clean energy tax credits

The team-up will grant Nasdaq ESG Solution clients access to Crux’s platform of clean energy project developers and manufacturers to purchase transferable tax credits.

By Lamar Johnson • Sept. 9, 2024

Morgan Stanley drops plastic pollution financing goal

A spokesperson for the bank told ESG Dive it would no longer have the standalone goal due to data availability and quality challenges as required climate disclosures near.

By Lamar Johnson • Sept. 6, 2024

Where Climate Action 100+ stands after member exodus, GOP probes

The investor-led group has lost out on a few notable members this year amid heightened scrutiny surrounding ESG and climate initiatives.

By Zoya Mirza , Lamar Johnson • Sept. 6, 2024

CleanCapital, Sunrock to deploy solar, battery storage in US communities

CleanCapital’s senior director of investments and capital markets said the partnership will allow the companies to accelerate the nation's energy transition “where it matters most.”

By Lamar Johnson • Sept. 5, 2024

Oxylus Energy nabs $4.5M for clean fuel tech

The climate tech company said the funding will help develop and scale its carbon conversion project which produces green methanol — an alternative fuel that can help slash emissions.

By Zoya Mirza • Sept. 4, 2024

Vanguard supported zero E+S proposals in 2024: report

The lack of support for environmental and social proposals comes after the nation's second-largest asset manager supported just 2% in 2023.

By Lamar Johnson • Sept. 3, 2024