Finance: Page 7

  • Wind turbines seen behind solar panels at a wind farm.
    Image attribution tooltip
    Mario Tama via Getty Images
    Image attribution tooltip

    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 • June 4, 2024
  • A main street in Vermont is flooded with one person wading through the water.
    Image attribution tooltip
    Kylie Cooper via Getty Images
    Image attribution tooltip

    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 • June 4, 2024
  • Visual displaying components of ESG. Explore the Trendline➔
    Image attribution tooltip
    TarikVision via Getty Images
    Image attribution tooltip
    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
  • View of trees from corporate building
    Image attribution tooltip
    Fahroni via Getty Images
    Image attribution tooltip

    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's logo on a building façade
    Image attribution tooltip
    Mario Tama / Staff via Getty Images
    Image attribution tooltip

    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
  • Wall Street sign with U.S. flags in background
    Image attribution tooltip
    lucky-photographer via Getty Images
    Image attribution tooltip

    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 • May 31, 2024
  • Climate change protestors are seen marching.
    Image attribution tooltip
    Asanka Ratnayake via Getty Images
    Image attribution tooltip

    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 • May 31, 2024
  • Wind turbines operate at a wind farm on March 05, 2024 near Palm Springs, California.
    Image attribution tooltip
    Mario Tama via Getty Images
    Image attribution tooltip

    Treasury issues proposed guidance on technology-neutral clean energy tax credits

    The new credits, which cover wind, solar, hydropower, nuclear, geothermal and other technologies, are “one of the [Inflation Reduction Act’s] most significant reforms,” the Treasury Department said in a release. 

    By Diana DiGangi • May 31, 2024
  • Stack of silver coins with seedlings ready to grow.
    Image attribution tooltip
    Sakorn Sukkasemsakorn via Getty Images
    Image attribution tooltip

    White House looks to bolster carbon market credibility

    The Biden administration released new principles for responsibly participating in voluntary carbon markets in what was called a “pragmatic step” by the CEO of carbon data platform Sylvera.

    By • May 30, 2024
  • American Airlines jet taking off from an airport runway.
    Image attribution tooltip
    Joe Raedle / Staff via Getty Images
    Image attribution tooltip

    American Airlines pilot’s anti-ESG lawsuit certified as class action

    The size of the certified class is expected to exceed 100,000, according to court documents, as the airline is accused of violating its ERISA duties.

    By • May 28, 2024
  • A conference participant walks past a spinning representation of Planet Earth during the UNFCCC COP27.
    Image attribution tooltip
    Sean Gallup via Getty Images
    Image attribution tooltip
    Opinion

    3 ESG lessons CFOs can learn from SOX compliance

    ESG reporting may be a relatively new challenge but there is nothing new about C-suite leaders facing “perfect storm” reporting requirements, Wolters Kluwer's Alessio Lolli writes.

    By Alessio Lolli • May 28, 2024
  • Photo looking up at high rises and Wall Street sign.
    Image attribution tooltip
    franckreporter via Getty Images
    Image attribution tooltip

    JPMorgan, Morgan Stanley shareholders modestly support Indigenous rights, climate proposals

    While voters did not approve shareholder resolutions at either meeting, the results displayed similar, if not greater, support as nearly identical proposals at other large U.S. banks.

    By • May 24, 2024
  • A close up of Shell's logo.
    Image attribution tooltip
    Scott Barbour via Getty Images
    Image attribution tooltip

    Shell shareholders approve diluted climate strategy at annual meeting

    Shareholders also rejected a resolution from shareholder activist Follow This to align the oil major’s scope 3 goals with the Paris Agreement.

    By • May 23, 2024
  • View of a gas price board
    Image attribution tooltip
    Win McNamee via Getty Images
    Image attribution tooltip

    State finance officials, fund trustees join CalPERS to oppose ExxonMobil slate

    A group of 13 state officials and pension plan leaders have urged major asset managers to vote against the oil major’s board and CEO at its May 29 annual meeting.

    By • May 23, 2024
  • Solar panels and wind turbines in a field
    Image attribution tooltip
    imacoconut via Getty Images
    Image attribution tooltip
    Opinion

    Investing in green companies: Why private equity should lead the charge

    Investing in green companies not only addresses pressing environmental concerns but offers compelling financial returns as well.

    By Hajar Jouglaf • May 23, 2024
  • Governor of Texas holds a meeting with the governor of Floroida.
    Image attribution tooltip
    (2021). [Photograph]. Retrieved from Office of the Texas Governor.
    Image attribution tooltip

    House Democrats probe Texas, Florida over financial impact of anti-ESG laws

    Both conservative-led states have laws in place that ban consideration of ESG factors within state funds and policies, leading to divestments from firms that allegedly boycott fossil fuels.

    By • May 22, 2024
  • An aerial view of a Texas Oil Refinery
    Image attribution tooltip
    Brandon Bell via Getty Images
    Image attribution tooltip

    Anti-ESG laws hurting Texas economically, unpopular with voters: research

    Pro-ESG group Unlocking America’s Future said Texas’ anti-ESG laws are hurting the state’s reputation as being “good for business.”

    By • May 21, 2024
  • Oklahoma City, Oklahoma, downtown skyline on the Oklahoma River at dawn.
    Image attribution tooltip
    Sean Pavone via Getty Images
    Image attribution tooltip

    BlackRock, State Street retain Oklahoma pension system contracts after anti-ESG law pause

    Contract renewals for the two firms were on hold due to Oklahoma’s 2022 Energy Discrimination Elimination Act, which got blocked by a district court judge earlier this month.

    By • May 20, 2024
  • A worker in a high-vis vest and hard hat walks between solar panels that cover the roof of a Sam's Club store in California.
    Image attribution tooltip
    David McNew via Getty Images
    Image attribution tooltip

    IRS extends domestic content bonus credit applicability for hydropower, solar

    The guidance also aims to “remove unnecessary burdens on taxpayers by allowing them to reference default cost percentages,” said American Council on Renewable Energy President and CEO Ray Long.

    By Diana DiGangi • May 20, 2024
  • An engineer walks by solar panels with wind turbines in the background.
    Image attribution tooltip
    image via Getty Images
    Image attribution tooltip

    Schneider Electric purchases IRA tax credits from solar manufacturer

    The senior director of renewables for Schneider’s sustainability business called the Inflation Reduction Act’s transferable credits a “revolutionary development.”

    By • May 17, 2024
  • The California Public Employees' Retirement System building seen during daytime.
    Image attribution tooltip
    Max Whittaker via Getty Images
    Image attribution tooltip

    CalPERS to commit $25B to private market climate solutions

    The allocation is part of the California pension fund’s strategy to double its climate investments to $100 billion by 2030, which it announced last year.

    By • May 17, 2024
  • Aerial view of blue photovoltaic solar panels mounted on industrial building roof for producing clean ecological electricity.
    Image attribution tooltip
    Bilanol via Getty Images
    Image attribution tooltip

    Clean energy tax credit market poised to grow under new transferability rules

    The transferability mechanism makes it easier for clean energy project developers and owners to sell IRA tax credits for cash.

    By Brian Martucci • May 17, 2024
  • A man walks into a BlackRock office building.
    Image attribution tooltip
    Andrew Burton via Getty Images
    Image attribution tooltip

    BlackRock shareholders appoint Aramco CEO to board, despite pushback

    A senior strategist for Sierra Club’s Fossil-Free Finance campaign said shareholders cast “concerning votes” on climate-related issues and “appear timid” to engage with BlackRock.

    By • May 16, 2024
  • Rep. Sean Casten (D-IL) speaks during a news conference
    Image attribution tooltip
    Drew Angerer via Getty Images
    Image attribution tooltip

    Congressional Democrats urge SEC to finalize ‘critical’ ESG greenwashing rule

    The lawmakers said the rule will address misleading information about sustainable funds “and other exaggerated or unfounded ESG-related claims amongst funds and investment advisers.”

    By • May 15, 2024
  • A truck passes by the BP refinery
    Image attribution tooltip
    Scott Olson via Getty Images
    Image attribution tooltip

    Global banks have spent $6.9 trillion on fossil fuels since 2016: report

    U.S. banks accounted for 30% of the $705 billion private global banks spent on fossil fuel financing in 2023, per the Banking on Climate Chaos report.

    By • May 14, 2024
  • Neobank Aspiration, fintech
    Image attribution tooltip
    Permission granted by Aspiration
    Image attribution tooltip

    Aspiration spins off consumer financial brand into new sustainability-focused company

    The standalone company, helmed by Tim Newell, will continue to operate under the Aspiration brand name and focus on offering climate-friendly products.

    By Rajashree Chakravarty • May 14, 2024