Finance: Page 12
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JPMorgan rebrands DEI, leaves Net-Zero Asset Managers initiative
The bank said it will swap “equity” for “opportunity” in its DEI policy and that it left NZAM due to the net-zero group’s operational pause.
By Lamar Johnson • March 24, 2025 -
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Federal judge blocks EPA’s $14B GGRF funding freeze
The EPA “proffered no evidence to support their basis for the sudden terminations, or that they followed the proper procedures,” said U.S. District Judge Tanya Chutkan.
By Diana DiGangi • March 24, 2025 -
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TrendlineTop 5 stories from ESG Dive
The landscape for ESG continues to shift, as U.S. exits from major climate agreements and organizations are juxtaposed with states forging ahead with their own climate disclosure laws.
By ESG Dive staff -
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BlackRock, Vanguard, State Street seek dismissal of red states’ coal antitrust suit
The asset managers said the Republican-led states offered “no plausible facts” to support the claim that the three firms conspired to collectively cut coal production in the U.S.
By Lamar Johnson • March 21, 2025 -
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Amid shifting views on ESG, investors retain climate focus: Berkeley Climate Summit
Anti-ESG backlash, reporting hurdles and regulatory uncertainty have put sustainability at a crossroads, panelists said.
By Suman Bhattacharyya • March 19, 2025 -
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OpinionSustainability as strategy: Why smart companies keep ESG policies despite political headwinds
ESG integration delivers operational benefits that transcend political viewpoints, says Aquent Sustainable Solutions Vice President Jody Mousseau.
By Jody Mousseau • March 18, 2025 -
"U.S. Securities and Exchange Commission headquarters in Washington, D.C., near Union Station" by AgnosticPreachersKid is licensed under CC BY 3.0
SEC pushes back Names Rule compliance dates
Funds will now have an additional six months to comply with the rule requiring funds’ investment strategies to align with any advertised purposes, like ESG or sustainability.
By Lamar Johnson • March 18, 2025 -
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EU sustainability, supply chain simplification efforts face ‘split’ parliament, experts say
Efforts to simplify compliance “shouldn't compromise the protection of the people and the planet,” a policy adviser to a member of the European Parliament said at a conference.
By Lamar Johnson • March 17, 2025 -
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US banks turn to SEC to dodge climate, social shareholder proposals
The agency has largely denied the requests, ruling that banks must put the requests to disclose its clean energy financing ratios and indigenous rights practices to a vote.
By Lamar Johnson • March 14, 2025 -
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Lego ramps up sustainable investments, nearly tripling green spending over 2 years
The Denmark-based toy manufacturer said its green investments last year were nearly three times what it spent on the sector in 2022.
By Zoya Mirza • March 14, 2025 -
Amazon, Google, Meta join pledge to help triple global nuclear capacity
“This is not the end; it is just the beginning,” the World Nuclear Association’s director general said of the 14 companies who committed to help expand nuclear capacity by 2050.
By Lamar Johnson • March 13, 2025 -
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COP30 president calls for ‘ambitious climate action,’ unveils initial vision for summit
Brazil’s André Corrêa do Lago called on governments to move from negotiation to implementation and increase their ambition when drawing up national emissions reduction plans.
By Zoya Mirza • March 12, 2025 -
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Climate United Fund sues EPA, Citibank over frozen $7B
The lawsuit asks the U.S. District Court for the District of Columbia to order the funds be unfrozen and disbursed.
By Diana DiGangi • March 12, 2025 -
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21 House Republicans oppose cutting clean energy credits to pay for tax cuts
“Both our constituencies and the energy industry alike remain concerned about disruptive changes to our nation’s energy tax structure,” the letter led by Rep. Andrew Garbarino, R-N.Y., said.
By Lamar Johnson • March 11, 2025 -
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US denounces UN’s sustainable development goals, quits climate damage fund
The U.S. voted against resolutions that promoted climate action and gender equality and withdrew from the United Nations’ Loss and Damage fund, all within a day.
By Zoya Mirza • March 11, 2025 -
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Microsoft buys 1.5M tonnes of carbon credits from Climate Impact Partners
The tech giant will purchase the credits over a 30-year period, as the carbon credit project developer plants millions of native trees in India.
By Lamar Johnson • March 10, 2025 -
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Basin Electric urges Congress to support clean energy tax credits
Inflation Reduction Act tax credits support energy infrastructure needed to meet rising demand for electricity, an Iowa Republican said during a House hearing.
By Ethan Howland • March 10, 2025 -
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IRA funding freeze has put ‘many’ clean energy projects on pause
The uncertainty created by the funding freeze has affected projects at “various stages of development,” a clean energy executive said on a recent press call.
By Lamar Johnson • March 7, 2025 -
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US exits climate finance initiative aimed at helping developing nations quit coal
The United States has dropped out of Just Energy Transition Partnership, a financing initiative that aims to help South Africa, Vietnam and others transition from coal to clean energy sources.
By Zoya Mirza • March 7, 2025 -
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State Street ditches board diversity requirement, completes Big Three DEI retreat
The nation’s third-largest asset manager will no longer require company boards to feature a certain percentage of women, following similar changes by BlackRock and Vanguard.
By Lamar Johnson • March 6, 2025 -
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Demand for renewable energy projects remains strong, but supply is growing: LevelTen Energy
As more developers are forced to sell early-stage projects, a glut of supply is eroding renewable energy profits, according to data from LevelTen Energy.
By Emma Penrod • March 5, 2025 -
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EPA $20B funding freeze leaves ‘green bank’ nonprofits unable to pay bills
The Climate United Fund, which received a $6.97 billion Greenhouse Gas Reduction Fund grant, will soon become unable to make payroll or disburse funding to its contracted borrowers, said a spokesperson.
By Diana DiGangi • March 4, 2025 -
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Goldman Sachs launches biodiversity bond fund to support SDGs
The fund became “one of the first fixed income funds” to focus on biodiversity conservation and remediation and support the United Nations’ Sustainable Development Goals.
By Lamar Johnson • March 4, 2025 -
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BofA, Wells, Truist de-emphasize DEI in annual filings
In its paperwork, BofA now uses “opportunity” in place of diversity. Wells, meanwhile, scrapped its diverse-slate interview policy, along with mentions of its pay equity review.
By Caitlin Mullen • March 4, 2025 -
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BlackRock ends diversity goals, merges DEI team into ‘Talent and Culture’
The nation’s largest asset manager said it will not renew “aspirational workforce representation goals” which expired in 2024, in response to executive orders targeting DEI programs.
By Lamar Johnson • March 3, 2025 -
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Wells Fargo scraps net-zero target as banks recalibrate sustainability strategy
The bank is dropping its goal of achieving net-zero financed emissions across its portfolio by 2050, in addition to 2030 targets it set for sector-specific financed emissions.
By Zoya Mirza • March 3, 2025
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