Finance: Page 8

  • The Chevron logo is displayed at a Chevron gas station
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    Mario Tama via Getty Images
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    Chevron leads $45M investment in carbon removal company Ion Clean Energy

    The energy giant made the investment through its New Energies division, in collaboration with Carbon Direct Capital.

    By • April 10, 2024
  • An oil pumpjack is seen near a field of wind turbines
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    Brandon Bell via Getty Images
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    Lack of uniform standards and disclosures a roadblock to scaling transition finance: report

    Without formal definitions, metrics and transition finance instruments endorsed by international organizations, broader adoption could stall, the CFA Institute said.

    By Suman Bhattacharyya • April 10, 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
  • FirstEnergy's 1,100-MW coal-fired Fort Martin power plant in Maidsville, West Virginia, along the Monongahela River.
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    BackyardProduction via Getty Images
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    Citi, TD, HSBC, Northern Trust added to West Virginia restricted list

    The state warned the banks in February of consequences if they "boycott" fossil fuels. BMO and Fifth Third avoided being added to the list, the state said.

    By Caitlin Mullen • April 9, 2024
  • An aerial view of a Texas Oil Refinery
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    Brandon Bell via Getty Images
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    Two-thirds of ‘sustainable’ passive funds are supporting fossil fuel expansion: Reclaim Finance

    Greenwashing threatens efforts to advance sustainability goals, researchers from the climate nonprofit say.

    By Suman Bhattacharyya • April 8, 2024
  • RBC
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    Matt Cardy via Getty Images
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    RBC joins Citi, JPMorgan in disclosing green financing ratios

    New York City Comptroller Brad Lander announced this week that the shareholder proposals put forward by the city’s retirement system have been pulled at all three banks.

    By • April 5, 2024
  • U.S. Federal Reserve Board Chairman Jerome Powell speaks during a June 2023 news conference.
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    Drew Angerer via Getty Images
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    Powell: Fed tracks emerging ‘material’ risks, but not a climate policymaker

    “Policies to address climate change are the business of elected officials and those agencies that they have charged with this responsibility,” Federal Reserve Chair Jerome Powell said.

    By • April 4, 2024
  • Aerial view of blue photovoltaic solar panels mounted on industrial building roof for producing clean ecological electricity.
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    Bilanol via Getty Images
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    How solar manufacturers can leverage IRA clean energy tax credits

    More than 500 companies and 45,500 projects registered for clean energy tax credits under the law as of March 8.

    By Joelle Anselmo • April 4, 2024
  • Specialists walking across a solar power plant.
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    Felbaba Volodymyr via Getty Images
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    Goldman renewables spinoff MN8 Energy secures $325M investment

    Ridgewood Infrastructure and Switzerland-based Mercuria Energy both secured observer seats on the renewable energy company’s board of directors as part of the transaction.

    By • April 2, 2024
  • The James V. Forrestal Building Building, the headquarters of the United States Department of Energy, in downtown Washington, DC at sunset.
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    Silverman Media Services via Getty Images
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    White House funds $6B to decarbonize US industrial sector

    The Department of Energy offered grants for 33 projects in eight historically high carbon-emitting industries such as aluminum, concrete and chemicals.

    By Joelle Anselmo • April 2, 2024
  • Outside shot of Citigroup HQ with a sign with the Citi logo in the shot
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    Mario Tama via Getty Images
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    Citi says 71% of energy clients lack substantive transition plan or ‘ability to execute’

    The bank made the disclosure in its latest climate report in response to a proposal that had been put forward by shareholder advocacy group As You Sow.

    By • April 1, 2024
  • Larry Fink, CEO of BlackRock, speaks at a roundtable discussion.
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    Sean Gallup via Getty Images
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    Mississippi hits BlackRock with cease and desist order over ESG investments

    The secretary of state accused the world’s largest asset manager with securities fraud and said it could face a multimillion-dollar administrative penalty.

    By • March 28, 2024
  • Close up view of blue plastic beverage bottles.
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    Galina Shafran via Getty Images
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    Sustainable sourcing platform Circular eyes expansion with $10.5M in funding

    Circular plans to expand internationally, add employees and introduce materials besides plastics to the platform.

    By Katie Pyzyk • March 28, 2024
  • The exterior of the Labor Department building, with a sign that says "United States Department of Labor"
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    Alex Wong via Getty Images
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    Labor Dept. responds to Republican AGs appeal of ESG 401(k) rule

    Liberty Energy, which also is challenging the Securities and Exchange Commission’s climate disclosure rule, joined the 26 states in the appeal.

    By • March 26, 2024
  • A 'Citi' sign is displayed outside Citigroup Center near Citibank headquarters in Manhattan on December 5, 2012 in New York City.
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    Mario Tama via Getty Images
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    Citi agrees to disclose green financing ratios, following JPMorgan

    The New York City comptroller has withdrawn shareholder proposals with the two banks. The measure faces votes at four other banks.

    By • March 25, 2024
  • A sign hangs on the BlackRock offices
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    Andrew Burton via Getty Images
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    Column

    ESG isn’t just BlackRock’s fight

    If it seems like banks are backing off of their sustainability efforts, comments from Barclays, TD and UBS may give added perspective.

    By Dan Ennis • March 25, 2024
  • Newly-installed solar panels face the sky at the construction site of a new solar energy park as wind turbines spin behind in Germany.
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    Sean Gallup via Getty Images
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    Treasury issues clarifying guidance on the IRA’s energy community bonus credit

    The guidance expands the definition of an energy community and the nameplate capacity attribution rule for offshore wind projects.

    By Diana DiGangi • March 25, 2024
  • Protesters seen outside BlackRock's Manhattan headquarters.
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    Spencer Platt via Getty Images
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    Texas schools fund pulls $8.5B from BlackRock over ESG

    The divestment is the latest from the Lone Star State, which has already placed BlackRock on restricted lists over its stance on fossil fuels.

    By • March 21, 2024
  • Building and assembling a construction wind turbines farm by a crane
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    Olya Solodenko via Getty Images
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    Morningstar launches indexes on companies’ transition to low carbon economy

    The financial services firm believes the indexes offer “a very different way” for investors who want to target the climate transition, while “maintaining exposure to high carbon-intensive sectors.”

    By • March 20, 2024
  • Solar project
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    Courtesy of The Rockefeller Foundation
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    Q&A

    Rockefeller Foundation’s new CFO: Climate crisis is a ‘big motivator’

    Keith Olson took the finance reins of the 111-year-old philanthropic powerhouse earlier this month. He is an alum of the Bill & Melinda Gates Foundation.

    By Maura Webber Sadovi • March 19, 2024
  • Google logo displayed in front of building.
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    Justin Sullivan via Getty Images
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    Google pledges to buy $35M in carbon removal credits, matches DOE

    The tech giant’s commitment builds on the Department of Energy’s initiative to scale the carbon removal purchase sector.

    By • March 18, 2024
  • An aerial view of German solar and onshore wind farm
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    Sean Gallup via Getty Images
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    KKR announces $3B takeover of European renewable energy producer Encavis

    The independent power producer said it will also up its 2027 operating capacity target to 7 gigawatts.

    By • March 18, 2024
  • Flags fly at full staff outside the NYSE with the Wall ST sign in the foreground
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    Kena Betancur via Getty Images
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    Net-Zero Banking Alliance updates disclosure guidance, extends to capital markets

    The UN-aligned group also stressed that all member banks should act and set climate targets independently, following a flurry of antitrust allegations.

    By • March 14, 2024
  • Boston skyline with a view of Prudential Center
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    Maddie Meyer via Getty Images
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    Massachusetts pension fund updates ESG proxy voting policies

    The updates include additional information on how the state pension fund will vote on the “most important and scrutinized corporate governance topics among institutional investors.”

    By • March 12, 2024
  • A wind turbine lays on the ground as part of a wind farm being built in New Mexico.
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    halbergman via Getty Images
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    Renewable energy M&A is entering a new paradigm, LevelTen Energy says

    The latter half of 2023 saw a significant slowdown in M&A transactions, which LevelTen Energy believes signals a shift in strategy among renewable energy developers.

    By Emma Penrod • March 12, 2024
  • Solar panels are mounted on the west wing roof of the Oregon State Capitol.
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    Melanie Conner via Getty Images
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    Oregon retirement fund to divest $1B from coal industry under new bill

    Alongside its decarbonization directives, the bill also states that divestments “must be accomplished without monetary loss to the investment funds.”

    By • March 11, 2024