Corporate Governance
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E+S proposals grew over decade alongside anti-ESG submissions: report
“Investors show little to no interest in proposals that advocate a political viewpoint without demonstrable economic relevance,” proxy advisory firm ISS-Corporate said in an analysis.
By Suman Bhattacharyya • Dec. 13, 2024 -
CBRE’s climate transition strategy targets supply chain, efficiency actions
Measures to decarbonize include working with clients and suppliers to reduce emissions, which would help decrease its large share of scope 3 emissions, the real estate firm said.
By Joe Burns • Dec. 13, 2024 -
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TrendlineTop 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 -
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Appeals court rejects Nasdaq effort to boost director diversity
The Fifth Circuit found that the Securities Exchange Act doesn’t allow a stock exchange to require listed companies to report directors’ race and gender.
By Justin Bachman • Dec. 13, 2024 -
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California to ease enforcement action on climate rules for first year of reporting
The California Air Resources Board said it would “not take enforcement action” on entities subject to Senate Bill 253 for incomplete reporting during the first reporting cycle due 2026.
By Zoya Mirza • Dec. 12, 2024 -
Courtesy of Target
Court blocks Target’s attempt to move, dismiss DEI-related shareholder suit
The lawsuit argued that Target’s “DEI/ESG mandates” had a “known risk of adverse customer reactions,” and should have therefore been disclosed in investor statements.
By Caroline Colvin • Dec. 12, 2024 -
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Meta signs quartet of solar purchase agreements with Invenergy
The four contracts are expected to provide the tech and social media giant with 760 megawatts of clean energy.
By Lamar Johnson • Dec. 11, 2024 -
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Goldman Sachs exits Net-Zero Banking Alliance
The bank said it would remain “focused on the increasingly elevated sustainability standards and reporting requirements imposed by regulators around the world.”
By Zoya Mirza • Dec. 10, 2024 -
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Shein launches independent advisory boards for ESG, corporate responsibility issues
The groups will work with the fast fashion company’s leaders on how to reach the commitments it laid out in its EvoluSHEIN plan.
By Laurel Deppen • Dec. 10, 2024 -
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L’Oréal Groupe spearheads supplier decarbonization fund
The Solstice program will help small and medium-sized enterprises access funding to advance scope 3 commitments.
By Kelly Stroh • Dec. 9, 2024 -
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Q&AWhat’s driving governance support as E+S approval dips: Diligent Market Intelligence
“Investors are increasingly focused on good governance and are taking basic governance structures quite seriously,” Diligent’s Editor In Chief Joshua Black told ESG Dive.
By Lamar Johnson • Dec. 6, 2024 -
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DEI failures contributed to a drop in stock prices, Lululemon shareholder alleges
Lululemon’s DEI initiative was “misguided” and its structure raised ethical concerns, the shareholder said in a derivative action lawsuit filed on behalf of the company.
By Emilie Shumway • Dec. 6, 2024 -
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Net-Zero Asset Owner Alliance calls for mandated scope 3 emissions disclosures
The UN-convened alliance also included a number of actions asset owners can immediately take to overcome current accounting challenges.
By Lamar Johnson • Dec. 5, 2024 -
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Trump’s SEC pick sparks concern from ESG, climate experts
The president-elect picked Paul Atkins for Securities and Exchange Commission chair, who experts expect to prioritize maximizing corporate returns over ESG considerations.
By Zoya Mirza • Dec. 5, 2024 -
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Coca-Cola lowers ambition with new 2035 packaging and sustainability targets
The beverage company introduced two new targets centered on packaging design and collection after use, but did not set a specific emissions reduction goal for 2035.
By Maria Rachal • Dec. 4, 2024 -
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Racial diversity falling among new corporate directors: Conference Board
The Securities and Exchange Commission is considering recommending a rule requiring companies to disclose more about diversity on their boards.
By Jim Tyson • Dec. 4, 2024 -
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Anti-ESG firm Strive launches direct indexing product
The firm said the new option will allow clients greater customization on their investments, “without regard to ESG or DEI restraints.”
By Lamar Johnson • Dec. 3, 2024 -
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BNP Paribas’ asset management arm to exclude new oil and gas bonds
The updated investment strategy comes approximately a year after BNP Paribas Group began refraining from participating in bond issuance by such companies.
By Zoya Mirza • Dec. 2, 2024 -
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BlackRock, Vanguard, State Street sued by Texas, red states
The three firms are accused of forming “a cartel to rig the coal market,” but State Street and BlackRock called the lawsuit “baseless” in separate statements to ESG Dive.
By Lamar Johnson • Updated Dec. 2, 2024 -
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COP29What the US offered on climate action at COP29
The United States’ delegation at the annual climate conference said its federal government was on track to reduce scope 3 emissions by 30% by 2030.
By Zoya Mirza • Nov. 27, 2024 -
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Phillips 66 indicted over alleged wastewater dumping violations in LA
The company is charged with six counts of Clean Water Act violations related to two discharges from the company’s Los Angeles area refineries into the local sewage system.
By Lamar Johnson • Nov. 26, 2024 -
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Climate protesters disrupt Saudi Aramco CFO talk at MIT conference
Saudi Aramco CFO Ziad Al-Murshed’s talk ended abruptly after climate protesters took the stage at the MIT Sloan CFO Summit in suburban Boston.
By Maura Webber Sadovi • Nov. 26, 2024 -
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HSBC sustainability chief to step down Dec. 31
The bank cut the sustainability role from its executive committee in an October reshuffle. HSBC on Monday also named an interim chief risk and compliance officer.
By Gabrielle Saulsbery • Nov. 25, 2024 -
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CalPERS over halfway to $100B climate goal, urged to stop buying Exxon bonds
The fund has invested $3.6 billion in climate solutions since 2023 and pledged another $3.2 billion in related investments.
By Lamar Johnson • Nov. 25, 2024 -
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SEC’s Gensler to step down Jan. 20 after robust rulemaking, enforcement
In one of his most widely criticized moves, Gensler gained SEC approval this year for a regulation requiring companies to disclose the impact of climate change on their finances, operations and business strategy.
By Jim Tyson • Nov. 22, 2024 -
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Investors urge Coca-Cola, Kraft Heinz, others to provide transparency on products’ health impact
Over 30 investors and asset managers asked top executives from leading food and beverage companies to annually disclose the “healthiness” of their products.
By Zoya Mirza • Nov. 21, 2024
