Finance: Page 2
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Bloomberg unveils climate tool focused on portfolio risk management
Bloomberg’s MARS Climate aims to help portfolio managers and investors assess and manage the financial risks associated with climate change.
By Zoya Mirza • Feb. 24, 2025 -
Trump’s tariffs could raise onshore wind turbine costs by 7%, slow development: WoodMac
Wind generation deployments could be reduced by nearly a third by the end of this decade due to the tariffs, according to a Wood Mackenzie analyst.
By Emma Penrod • Feb. 21, 2025 -
HSBC delays net-zero emissions goal by 20 years
The U.K.-based bank said it was “revising [its] ambition” and delaying its target of hitting net-zero across its operations, business travel and supply chain from 2030 to 2050.
By Zoya Mirza • Feb. 20, 2025 -
Banks back away from DEI mentions
JPMorgan Chase, Citizens and Huntington have reduced or eliminated their references to diversity, equity and inclusion amid a White House crackdown, according to the banks’ latest annual filings.
By Caitlin Mullen • Feb. 20, 2025 -
Dems ask SEC, DOL to not issue anti-ESG rules: Exclusive
A coalition of 17 blue state finance officials sent a letter to the agencies to counter prior assertions made by their Republican colleagues.
By Lamar Johnson • Feb. 20, 2025 -
CSDDD is a ‘non-tariff barrier’ for US companies: House Financial Services Chair
Rep. French Hill said during a webinar that the Corporate Sustainability Due Diligence Directive will create costly barriers for U.S. corporations to do business in and engage with the bloc.
By Lamar Johnson • Feb. 19, 2025 -
Climate change should be incorporated into ‘daily decision-making’: JPMorgan
“Understanding climate risk is important for staying ahead in the financial landscape,” JPMorgan’s chief risk officer and global head of corporate advisory wrote in a new report.
By Zoya Mirza • Feb. 19, 2025 -
Federal judge sides with Biden Labor Dept. on ESG fiduciary rule
A U.S. District judge for Northern Texas said the rule is still valid under Loper Bright and does not violate the Employment Retirement Income Security Act of 1974.
By Lamar Johnson • Feb. 18, 2025 -
Pennsylvania Gov. Shapiro sues Trump admin over IRA funding freeze
The state’s agencies have limited access to over $3.1 billion in funding for activities including distributed solar deployment, well plugging and weatherization, according to the lawsuit.
By Diana DiGangi • Feb. 18, 2025 -
The SEC has requested to delay climate rule arguments. What’s next?
Sustainable investing experts are not surprised by the delay and say it is expected to have minimal immediate impact.
By Lamar Johnson • Feb. 13, 2025 -
New York loans Revel $60M to expand NYC public EV charging
NY Green Bank's president said the financial arrangement is “an important and replicable precedent” to accelerate electric vehicle charging.
By Robert Walton • Feb. 13, 2025 -
Retrieved from OCC.
Office of the Comptroller of the Currency latest to exit central bank climate coalition
The OCC’s acting comptroller said participation in the Network of Central Banks and Supervisors for Greening the Financial System does not fall within the agency’s “statutory mandate.”
By Zoya Mirza • Feb. 12, 2025 -
Acting SEC chair asks court not to schedule climate rule arguments
“The Commission’s briefs previously submitted in the cases consolidated in the Eighth Circuit do not reflect my views,” Acting Chair Mark Uyeda said.
By Lamar Johnson • Feb. 11, 2025 -
HSBC taps global banking executive for chief sustainability officer role
Julian Wentzel — previously HSBC’s head of global banking for the Middle East, North Africa and Turkey — becomes sustainability chief after serving as interim CSO.
By Zoya Mirza • Feb. 11, 2025 -
EPA funding freeze endangers $7B Solar For All program
“We don't know how much money got out the door, we don't know how much money the administration can seek to claw back,” said Vote Solar’s executive director, Sachu Constantine.
By Diana DiGangi • Feb. 11, 2025 -
Google contracts over $100M in carbon removal credits in 2024
“We’re encouraged by our progress, but the journey to catalyze carbon removal is just beginning,” Google Carbon Credits and Removals Lead Randy Spock said.
By Lamar Johnson • Feb. 7, 2025 -
Clean energy stakeholders descend on Capitol to lobby for IRA tax credits
Groups participating in the lobbying blitz in Washington, D.C. represent over 2,000 companies and hundreds of billions of dollars in private investment, according to the Solar Energy Industries Association.
By Diana DiGangi • Feb. 6, 2025 -
New York reintroduces bills seeking climate risk, emissions disclosures
Senate Bills 3456 and 3697, if approved, would mandate climate-related disclosures from large companies operating in the Empire State as early as 2027.
By Zoya Mirza • Feb. 6, 2025 -
ESG encountering widening ‘gulf’ between US and European investors: Morningstar
“We are definitely seeing a widening gap … between asset manager support for environmental and social-related voting initiatives," Morningstar Sustainalytics’ director of investment stewardship research said.
By Lamar Johnson • Feb. 5, 2025 -
Companies reduce philanthropy aimed at boosting racial, gender equality
Change in “corporate citizenship” initiatives coincide with a federal backlash against efforts to promote sustainability in the private and public sectors.
By Jim Tyson • Feb. 5, 2025 -
Vanguard dilutes diversity guidelines for US board proxy voting
The updated policies exclude a recommendation that boards “at a minimum, represent diversity of personal characteristics, inclusive of at least diversity in gender, race and ethnicity.”
By Lamar Johnson • Feb. 4, 2025 -
Republican officials urge SEC, DOL to adopt anti-ESG, DEI rules
The letter signed by 22 Republican state finance officials cited American Airlines’ recent legal loss as evidence that fiduciaries are breaching their duty to loyalty with regards to ESG and DEI.
By Lamar Johnson • Feb. 3, 2025 -
Treasury Department exits global regulatory climate coalition
The Treasury’s Federal Insurance Office withdrew from the Network of Central Banks and Supervisors for Greening the Financial System last week to comply with President Donald Trump’s executive orders.
By Zoya Mirza • Feb. 3, 2025 -
Banks improving clean energy finance ratios, still well-short of net-zero pace: report
“The ratio isn’t evolving at the pace needed to hit the 4:1 level required this decade under commonly referenced scenarios to limit climate change to 1.5 [degrees Celsius],” according to BloombergNEF.
By Lamar Johnson • Jan. 31, 2025 -
Developments driving the ESG, sustainability industry in 2025
The change in U.S. presidential leadership has triggered drawbacks of ESG and DEI commitments, as the private sector braces for a change in political direction.
By Zoya Mirza , Lamar Johnson • Jan. 31, 2025