Finance: Page 17
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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 -
Felbaba Volodymyr via Getty Images
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 Lamar Johnson • April 2, 2024 -
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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 -
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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 Lamar Johnson • April 1, 2024 -
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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 Lamar Johnson • March 28, 2024 -
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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 -
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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 Lamar Johnson • March 26, 2024 -
Mario Tama via Getty Images
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The New York City comptroller has withdrawn shareholder proposals with the two banks.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 Lamar Johnson • March 25, 2024 -
Andrew Burton via Getty Images
ColumnESG 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 -
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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 -
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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 Zoya Mirza • March 21, 2024 -
Olya Solodenko via Getty Images
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 Lamar Johnson • March 20, 2024 -
Courtesy of The Rockefeller Foundation
Q&ARockefeller 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 -
Justin Sullivan via Getty Images
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 Zoya Mirza • March 18, 2024 -
Sean Gallup via Getty Images
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 Lamar Johnson • March 18, 2024 -
Kena Betancur via Getty Images
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 Lamar Johnson • March 14, 2024 -
Maddie Meyer via Getty Images
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 Lamar Johnson • March 12, 2024 -
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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 -
Melanie Conner via Getty Images
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 Zoya Mirza • March 11, 2024 -
David Silverman via Getty Images
USDA counters claims over misuse of climate funds
An Environmental Working Group report says the majority of climate-smart agriculture funding go toward projects with no proven sustainability benefits.
By Nathan Owens • March 11, 2024 -
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SEC approves final climate disclosure rule, starts compliance countdown
The rule passed by a 3-2 vote Wednesday morning, absent requirements for scope 3 reporting and slimmer scope 1 and scope 2 requirements.
By Lamar Johnson • March 6, 2024 -
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SEC drops scope 3 from final climate rule, takes phased approach to scope 1 and 2 reporting
The agency said scope 3 was removed due to a large number of comments concerning compliance costs, as well as the consistency and reliability of scope 3 data.
By Lamar Johnson • Updated March 6, 2024 -
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16 Republican AGs question BlackRock fund directors over ESG
The letter asks directors about BlackRock’s involvement with ESG groups and whether this causes conflicts of interest in its fiduciary duty to its shareholders.
By Zoya Mirza • March 5, 2024 -
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Mounting ESG scrutiny could affect revenues, reputation: BlackRock
Increasing domestic and international ESG regulations could increase compliance costs and uncertainty, the firm said in its annual SEC filing.
By Lamar Johnson • March 4, 2024 -
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West Virginia warns 6 banks they’re headed for restricted list over fossil fuel stances
BMO Bank, Citibank, Fifth Third Bank, Northern Trust, TD Bank and HSBC all received notices, according to West Virginia Public Broadcasting.
By Lamar Johnson • March 1, 2024
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