Finance: Page 5
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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 -
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 -
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 -
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 -
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 -
Bloomberg launches CSRD data tool as reporting deadlines begin to loom
“Better data drives better investment decisions,” Bloomberg’s global head of sustainable finance solutions said in a release.
By Lamar Johnson • June 24, 2024 -
Anti-ESG laws challenge fiduciary obligations, add significant reporting burden: PRI
The impact of anti-ESG legislative efforts is uncertain and could affect capital availability for businesses and investment vehicles that have a sustainability or social focus, experts say.
By Suman Bhattacharyya • June 21, 2024 -
Morningstar index targets LGBTQ+ inclusive companies
“As LGBTQ+ identities become more ubiquitous, inclusive investing will continue to develop,” the firm said in an accompanying paper.
By Lamar Johnson • June 21, 2024 -
Citi calls carbon emissions report from environmental group ‘misleading’
Stand.earth reported earlier this week that the bank is a leading financier of the maritime liquefied natural gas industry, but the bank takes issue with the methodology used.
By Lamar Johnson • June 20, 2024 -
Salesforce announces spate of climate investments
The three new investments include joining a decarbonization initiative, a PPA for a 27-megawatt solar project and committing almost $4 million to climate-focused philanthropy.
By Zoya Mirza • June 18, 2024 -
BlackRock launches ‘transition aware’ funds overseas, as it shies away from ESG in US
The climate-focused funds will be listed in the European Union and will invest at least 80% of their assets in ESG-aligned activities.
By Lamar Johnson • June 14, 2024 -
California goes after Big Oil’s ‘illegal’ profits over alleged greenwashing
ExxonMobil, Shell, Chevron, ConocoPhillips, BP and the American Petroleum Institute may be required to surrender profits gained from false advertising, according to an amended complaint filed Monday.
By Zoya Mirza • June 12, 2024 -
House Judiciary: Climate groups and activists ‘colluding’ on decarbonization
The interim report from the years-long probe accuses groups in the financial system of forming a “climate cartel” that “has declared war on the American way of life.”
By Lamar Johnson • June 12, 2024 -
Vanguard says ExxonMobil made a ‘compelling case’ for its shareholder lawsuit
The nation’s second-largest asset manager supported Exxon CEO Darren Woods and its board of directors at the energy giant’s May 29 board meeting after concluding it displayed appropriate oversight.
By Lamar Johnson • June 11, 2024 -
House Oversight Committee probes IRS over ESG policies
Committee Chair James Comer asked IRS Commissioner Daniel Werfel to explain how the agency ensures state retirement plans invest for the “exclusive benefit” of enrollees.
By Zoya Mirza • June 11, 2024 -
$1.3B earmarked for EV charging network expansion in US
The Biden-Harris Administration aims to accelerate public and private investment in clean transportation with the historic grant funding.
By Haley Cawthon • June 7, 2024 -
Senate panel worries climate change is pushing insurance markets to the brink
Witnesses and the committee’s chair drew parallels between the current home insurance market and conditions leading up to the 2007-08 recession.
By Lamar Johnson • June 6, 2024 -
How climate change is hitting highways
Resilience is a key consideration for road builders amid a slew of new environmental conditions, said a Federal Highway Administration official at the recent NIBS conference in Washington, D.C.
By Julie Strupp • June 6, 2024 -
Citi boosts paid parental leave to match industry peers
The bank is giving birth mothers an additional eight weeks of recovery time, bringing total leave to 24 weeks, in line with policies by Morgan Stanley and Barclays.
By Dan Ennis • June 5, 2024 -
Sierra Club, NRDC drop legal challenges to SEC climate rule
The two environmental groups have decided to focus resources elsewhere to improve climate-related financial disclosures.
By Lamar Johnson • June 5, 2024 -
Energy Capital Partners secures $6.7B to invest in clean energy industry
The New Jersey-based private equity firm said its fifth flagship fund would invest in companies focused on power generation, decarbonization and renewable and storage assets.
By Zoya Mirza • June 4, 2024 -
Vermont sends climate change tab to fossil fuel companies
The Green Mountain State passed legislation which holds oil and gas companies financially accountable for damage caused by climate change.
By Lamar Johnson • June 4, 2024 -
Most M&A buyers would pay 3% extra for a company with a good ESG profile
ESG is playing a bigger role in dealmaking than ever before, Deloitte said.
By Jim Tyson • June 4, 2024 -
Bank of America tweaks its restriction on firearms, energy lending
New language indicates lending decisions go to senior risk officials for case-by-case evaluation, rather than being a non-negotiable “no.”
By Dan Ennis • June 3, 2024 -
SBTi tightens target-setting guidelines for financial institutions
This is the first time public banks and asset managers have been looped into SBTi’s framework, which also includes fossil fuel financing target guidelines for the first time.
By Lamar Johnson • May 31, 2024 -
Asset, pension managers bolster Climate Action 100+ after member exodus
The investor group was backed by the nation’s largest retirement fund and other pension systems Tuesday after it lost JPMorgan, State Street and PIMCO as members earlier this year.
By Zoya Mirza • May 31, 2024