Finance

  • A man walks outside the EY offices in London.
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    Jack Taylor via Getty Images
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    Deloitte, EY partner with tech to accelerate clients’ sustainability goals

    Deloitte is linking up with IBM, while EY collaborates with AspenTech, as the two consulting firms look for software tools to help mitigate companies’ carbon footprint.

    By • Nov. 28, 2023
  • Two unknown men walk into a red and glass paneled building that says NYU Stern School of Business with NYU flags flying on the right side of the photo.
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    CribbVisuals via Getty Images
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    NYU’s Stern calls for system overhaul in ESG ratings

    Environmental, social and governance investing should center on companies’ impacts on the environment and society rather than shareholder profit, the report argues.

    By • Nov. 27, 2023
  • The front facade of the Oklahoma State Capitol building.
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    Elizabeth Lara via Getty Images
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    State pensioner hits Oklahoma with lawsuit over its anti-ESG law

    The plaintiff alleges the state’s Energy Discrimination Elimination Act, which blacklists financial institutions that boycott oil and gas companies, is unconstitutional and hurts beneficiaries.

    By • Nov. 27, 2023
  • The headquarters of BlackRock in Manhattan.
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    Spencer Platt/ESG Dive, data from Getty Images
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    BlackRock nabs $1B for energy transition infrastructure fund

    The Evergreen Infrastructure fund aims to invest in businesses focused on energy security and has already acquired a portfolio of renewable investments.

    By • Nov. 20, 2023
  • People walk in front of a JPMorgan Chase & Co. sign at its headquarters in New York City.
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    Spencer Platt via Getty Images
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    JPMorgan to include low-carbon power generation in climate risk calculations

    The bank said it would reduce financing in the oil and gas sector and increase financing for zero- and low-carbon power generation as part of its new “Energy Mix” policy.

    By • Nov. 20, 2023
  • CalPERS logo outside its building in Sacramento.
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    Max Whittaker via Getty Images
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    CalPERS aims to double climate investments to $100B by 2030

    The country’s largest pension fund said it would integrate ESG into its investment strategy and divest from companies “without credible net-zero plans.”

    By • Nov. 16, 2023
  • Governor of Texas holds a meeting with the governor of Floroida.
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    (2021). [Photograph]. Retrieved from Office of the Texas Governor.
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    Deep Dive

    The ESG battle: 4 key states shaping regulatory discourse in the US

    Left-leaning California and New York and conservative-led Florida and Texas have stepped up regulatory measures to underscore ESG’s role — or lack thereof — in their jurisdictions.

    By , • Nov. 16, 2023
  • The Federal Deposit Insurance Corp. headquarters in Washington, D.C.
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    Anna Hrushka/ESG Dive
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    FDIC proposes adoption of Fair Hiring in Banking Act

    The proposal would relax employment restrictions, eliminating the need for individuals convicted of certain minor offenses to seek approval before being able to work at federally insured institutions.

    By • Nov. 15, 2023
  • A tram passes the giant Euro symbol with high rise office buildings the city of Frankfurt am, Germany in the background
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    Hannelore Foerster via Getty Images
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    Banks might dodge EU’s supply chain sustainability regulations

    The proposed carveout for financial institutions would exclude them from having to submit climate transition plans.

    By • Nov. 14, 2023
  • World leaders attended the Climate Ambition Summit at the United Nations Headquarters
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    Kena Betancur via Getty Images
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    ESG conferences to plan for in 2024

    Upcoming events will cover sustainable finance, corporate strategy and governance, climate change, supply chain, social impact and more.

    By , • Nov. 13, 2023
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    Piranka via Getty Images
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    Deep Dive

    Making the case for women-owned banks

    Three women-owned banks have emerged in the last several years with the shared goal of increasing access to capital for female entrepreneurs.

    By Anna Hrushka • Nov. 13, 2023
  • Heavy smoke clouds of carbon emissions spew from three cylindrical columns rising from a factory in the background, partly obscured by trees, with the roof of a house barely visible in the foreground.
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    Mark Wilson via Getty Images
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    BlackRock invests $550M in Occidental’s industrial-scale direct air capture plant

    The Texas-based Stratos facility is expected to be operational in 2025 and designed to capture up to 500,000 metric tons of CO2 per year.

    By • Nov. 13, 2023
  • Committee Chair Jason Smith is seated speaking center with ranking member Richard Neal on his left, photo right, and Vern Buchanan to the right, photo left. Three reps out of focus below.
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    Drew Angerer via Getty Images
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    House Republicans argue Labor Department ESG rule runs afoul of tax code

    The Committee on Ways and Means’ majority raised objections to the Biden administration rule and called it a tactic to “use retirement savings to finance a political agenda.”

    By • Nov. 8, 2023
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    Abhishek Chinnappa via Getty Images
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    How tech, venture capital can help food industry meet 2030 emissions goals

    Efforts like feed additives for cattle and implementing solar panels on farms can help producers decrease their carbon footprint, Ceres said in its latest report.

    By Chris Casey • Nov. 8, 2023
  • Businesswoman working with her coworker in a meeting room.
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    Edwin Tan via Getty Images
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    Credit union regulator proposes rule loosening hiring restrictions

    The National Credit Union Administration Board aims to expand career opportunities for individuals convicted of certain minor offenses and advance financial inclusion and equity within the credit union system.

    By • Nov. 7, 2023
  • An aerial view of a Texas Oil Refinery
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    Brandon Bell via Getty Images
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    Texas Comptroller adds 5 companies to divestment list for fossil fuel stance

    The additions are part of a growing list of names drawn by the Lone Star state, which now mentions more than 350 investment funds and 15 companies, including BlackRock, BNP Paribas and UBS.

    By • Nov. 6, 2023
  • Jim Jordan sits behind a podium with his right hand around a pen and resting on his chin. Out of focus, the podium reads "Mr. Jordan, Chairman."
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    Chip Somodevilla via Getty Images
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    House Judiciary subpoenas ESG, net-zero advocates alleging antitrust violations

    Chair Jim Jordan subpoenaed financial coalition GFANZ and advocacy group As You Sow, whose CEO called the warrant “unfounded” and said the underlying allegations are “twisting the facts.” 

    By • Nov. 3, 2023
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    Drew Angerer / Staff via Getty Images
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    TD buys carbon removal credits

    Over four years, TD said it will purchase 27,500 metric tons of direct-air-capture carbon dioxide removal credits from Occidental Petroleum. Financial details of the transaction were not disclosed.

    By Gabrielle Saulsbery • Nov. 1, 2023
  • Utah State Attorney General Sean Reyes sitting and speaking with his right hand raised, an american flag pin on his right lapel, a flag handkerchief in right suit breast pocket and blue paisley tie
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    Gabriel Aponte via Getty Images
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    Republican AGs continue fight against Biden ESG rule

    A coalition of 26 state attorneys general said it is willing to fight the Labor Department rule allowing ESG considerations for employee retirement plan managers all the way to the U.S. Supreme Court.

    By • Oct. 30, 2023
  • A close up of the Department of Treasury seal on the front of the headquarters with "the Department of Treasury" and "1789" on an outer circle and a shield with the scales of justice up top and a key.
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    Chip Somodevilla via Getty Images
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    Trio of federal agencies update bank guidelines for financial climate risks

    Bank regulators issued new guidance for how large institutions should handle climate risk and updated an anti-redlining law to assign them more responsibility for climate risks.

    By • Oct. 26, 2023
  • The Wall Street street sign is visible in the foreground with a picture of a trader in front of the stock market on the left of the sign. Three american flags are out of focus in the background.
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    Spencer Platt via Getty Images
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    $2.7B in assets pulled from sustainable funds market: Morningstar

    Sustainable fund closures outpaced new launches for the first time since 2020, and outflow outpaced investments for the fourth consecutive quarter, according to the financial research firm.

    By • Oct. 25, 2023
  • A conference participant walks past a spinning representation of Planet Earth during the UNFCCC COP27.
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    Sean Gallup via Getty Images
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    UN-backed alliance members now represent $9.5T in assets under management: report

    The Net Zero Asset Owner Alliance said 69 of its members have set intermediate targets to help align operations with a global goal of net-zero emissions by 2050. 

    By • Oct. 24, 2023
  • A photo collage of diverse workers depicted each in a leaf of a 3-leaved plant illustration.
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    Shaun Lucas/Industry Dive; Getty Images 

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    Deep Dive

    7 ESG trends influencing corporate strategy

    Developments in the ESG landscape directing investor decisions include the consolidation of reporting frameworks, the rise of AI and data metrics, social responsibility and impending regulation from the SEC.

    By , • Oct. 23, 2023
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    wutwhanfoto via Getty Images
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    Investors not willing to sacrifice returns for ESG performance: report

    Retail investors care about incorporating ESG factors into their decision-making when they are “financially material” for company operations, according to recent research.

    By • Oct. 23, 2023
  • The front of the agency headquarters, reading "United States Security and Exchange Commission" and the number 450 as a man walks in a glass door at the bottom left of the frame.
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    Mark Wilson/Newsmakers via Getty Images
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    SEC drops ESG from exam priorities for 2024

    The agency’s office responsible for promoting compliance and monitoring market risk no longer lists environmental, social and governance investing as a priority for next year.

    By • Oct. 19, 2023