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38% of public companies ‘significantly misaligned’ to net-zero: Morningstar
Of more than 3,300 public companies, none are on track to hit the Paris Accords’ 2050 target, a study from the financial services revealed.
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House panel approves FY25 budget that strikes Labor Dept. ESG rule
The Republican-led House Appropriations Committee advanced a funding bill for the agency containing the policy rider.
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Senators press Jamie Dimon on alleged climate turnabout
The lawmakers, including Sen. Elizabeth Warren, D-MA, demanded answers from the JPMorgan Chase CEO on the bank's environmental "commitments" and "aspirations."
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Amazon hits renewable energy goal early, reduces carbon emissions
The e-commerce giant said it met a goal to match all of its electricity consumption with renewable energy seven years early and decreased overall emissions by 3% in 2023.
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Sustainability is a key factor in improved financial performance: KPMG
Indicators like lower carbon dioxide emissions, land environmental impact reduction and business ethics policies are linked to increased gross profit margin, per a study of 2,617 companies.
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SBTi calls on financial institutions to pilot net-zero standard
The climate target validation organization is looking for participants to test a standard that will encompass near- and long-term portfolio-wide goals.
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Sustainable garment tech hub to open in Miami
Spain-based Jeanologia is opening the production center as it looks to expand its presence in the U.S.
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SEC’s ESG greenwashing, human capital disclosure rules pushed to October
The Securities and Exchange Commission’s delayed rulemaking timeline comes against a backdrop of increased scrutiny on ESG-related regulations.
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Labor Department, challengers argue over ESG rule’s tiebreaker standard post-Chevron
A lawyer for the agency said he believes “the logic of the District Court's opinion would produce the same result” under the Loper Bright ruling.
Updated July 10, 2024 -
Global solar and wind capacity will more than triple to 8 TW by 2033: Wood Mackenzie
Global energy storage will grow by 636% to add nearly 2,789 gigawatt hours of capacity over the next decade, according to WoodMac's latest global market outlook.
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Lego to mandate sustainability targets across supply chain
The Danish toy maker is turning to suppliers to help cut emissions from its indirect operations, primarily its supply chain, as they make up the majority of its carbon footprint.
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American Airlines CEO sounds alarm on aviation sector decarbonization
CEO Robert Isom said in the airline’s latest ESG report its climate goals are in jeopardy, given the industry’s current decarbonization efforts.
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Google’s AI efforts slow sustainability gains
The company’s greenhouse gas emissions climbed 13% last year as compute intensity increased, according to its annual environmental report.
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Labor Department’s ESG rule trial to serve as litmus test for Chevron decision
A lower court’s dismissal of a challenge to the rule cited the now-overturned Chevron doctrine, though the agency believes the rule will survive.
Updated July 10, 2024 -
Google inks renewable power agreement with Engie
Google has signed five corporate power purchase agreements with Engie, which will provide over 118 megawatts of power to boost the tech giant’s operations in Belgium.
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Supreme Court’s Chevron, Corner Post decisions could delay energy investments, spur litigation: analysts
FERC Chairman Willie Phillips defended the commission’s transmission planning rule after the court eliminated the Chevron deference for federal agencies.
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Climate groups say carbon offsets undermine emission reduction targets
Over 80 organizations addressed global companies and governments Tuesday, saying a reliance on carbon credits will likely “slow down global emission reductions.”
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Consumers want ethical sourcing, labeling on manmade fibers: report
Nearly three quarters of survey respondents think materials such as viscose and lyocell should come from sustainable forests.
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SEC’s climate disclosure rule: from proposal to approval
A look at the agency’s two-year journey to finalizing the rule amid a backdrop of conflicting opinions on its authority.
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Generative AI gains foothold in ESG landscape
The increased use of artificial intelligence in ESG, beyond reporting, was on display at the Amazon Web Services conference last week.
Updated July 8, 2024 -
Fidelity updates sustainable investing framework against regulatory backdrop
Fidelity’s international arm said its revised framework aims to “ensure ongoing alignment with transparency and disclosure requirements.”
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Shareholders rejecting both ESG and anti-ESG proposals
Only three of almost 1,000 proposals were supported by shareholders so far in the 2024 proxy season.
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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.
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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.”
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SCOTUS overturns Chevron doctrine, limiting federal agency reach
Federal courts will no longer have to defer to agency regulations for interpretation of ambiguous statutes.