Finance: Page 2

  • A sign hangs on the BlackRock offices
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    Andrew Burton via Getty Images
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    BlackRock becomes first firm on Indiana treasurer’s ESG watchlist

    “Contrary to the Treasurer’s assertion, BlackRock has been singularly focused on delivering performance” for the state’s pension fund, a firm spokesperson told ESG Dive.

    By • June 25, 2024
  • European Union flags are pictured waving outside the European Commission building.
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    Carl Court via Getty Images
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    Bloomberg launches CSRD data tool as reporting deadlines begin to loom

    “Better data drives better investment decisions,” Bloomberg’s global head of sustainable finance solutions said in a release.

    By • June 24, 2024
  • Visual displaying components of ESG. Explore the Trendline➔
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    TarikVision via Getty Images
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    Trendline

    Top 5 stories from ESG Dive

    This year is shaping 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
  • he U.S. and Texas flags fly in front of high voltage transmission towers
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    Justin Sullivan via Getty Images
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    Anti-ESG laws challenge fiduciary obligations, add significant reporting burden: PRI

    The impact of anti-ESG legislative efforts is uncertain and could affect capital availability for businesses and investment vehicles that have a sustainability or social focus, experts say.

    By Suman Bhattacharyya • June 21, 2024
  • Light through the Pride flag turns the street many colors.
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    Justin Sullivan via Getty Images
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    Morningstar index targets LGBTQ+ inclusive companies

    “As LGBTQ+ identities become more ubiquitous, inclusive investing will continue to develop,” the firm said in an accompanying paper.

    By • June 21, 2024
  • People walk up from the plaza at the Citigroup Center November 17, 2008 in New York City. Citigroup
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    Chris Hondros / Staff via Getty Images
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    Citi calls carbon emissions report from environmental group ‘misleading’

    Stand.earth reported earlier this week that the bank is a leading financier of the maritime liquefied natural gas industry, but the bank takes issue with the methodology used.

    By • June 20, 2024
  • The Salesforce logo is seen at its headquarters in San Francisco
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    Stephen Lam via Getty Images
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    Salesforce announces spate of climate investments

    The three new investments include joining a decarbonization initiative, a PPA for a 27-megawatt solar project and committing almost $4 million to climate-focused philanthropy.

    By • June 18, 2024
  • Flags fly above the entrance of the BlackRock offices.
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    Andrew Burton via Getty Images
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    BlackRock launches ‘transition aware’ funds overseas, as it shies away from ESG in US

    The climate-focused funds will be listed in the European Union and will invest at least 80% of their assets in ESG-aligned activities.

    By • June 14, 2024
  • California Attorney General Rob Bonta speaks during a news conference.
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    Justin Sullivan via Getty Images
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    California goes after Big Oil’s ‘illegal’ profits over alleged greenwashing

    ExxonMobil, Shell, Chevron, ConocoPhillips, BP and the American Petroleum Institute may be required to surrender profits gained from false advertising, according to an amended complaint filed Monday.

    By • June 12, 2024
  • Jim Jordan sits behind a podium with both hands outstretched.
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    Chip Somodevilla via Getty Images
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    House Judiciary: Climate groups and activists ‘colluding’ on decarbonization

    The interim report from the years-long probe accuses groups in the financial system of forming a “climate cartel” that “has declared war on the American way of life.”

    By • June 12, 2024
  • ExxonMobil CEO Darren Woods speaks at a podium
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    Justin Sullivan via Getty Images
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    Vanguard says ExxonMobil made a ‘compelling case’ for its shareholder lawsuit

    The nation’s second-largest asset manager supported Exxon CEO Darren Woods and its board of directors at the energy giant’s May 29 board meeting after concluding it displayed appropriate oversight.

    By • June 11, 2024
  • Committee chairman Rep. James Comer questions witnesses during a House Oversight Committee hearing.
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    Drew Angerer via Getty Images
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    House Oversight Committee probes IRS over ESG policies

    Committee Chair James Comer asked IRS Commissioner Daniel Werfel to explain how the agency ensures state retirement plans invest for the “exclusive benefit” of enrollees.

    By • June 11, 2024
  • Charging port on the Volvo C40 recharge SUV.
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    Courtesy of Volvo Cars
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    $1.3B earmarked for EV charging network expansion in US

    The Biden-Harris Administration aims to accelerate public and private investment in clean transportation with the historic grant funding.

    By Haley Cawthon • June 7, 2024
  • Trees sway along a highway under the stress of hurricane-force winds.
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    Sean Rayford via Getty Images
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    Senate panel worries climate change is pushing insurance markets to the brink

    Witnesses and the committee’s chair drew parallels between the current home insurance market and conditions leading up to the 2007-08 recession.

    By • June 6, 2024
  • A man in a dark suit stands in front of an audience.
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    Julie Strupp/ESG Dive
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    How climate change is hitting highways

    Resilience is a key consideration for road builders amid a slew of new environmental conditions, said a Federal Highway Administration official at the recent NIBS conference in Washington, D.C.

    By Julie Strupp • June 6, 2024
  • A 'Citi' sign is displayed outside Citigroup Center near Citibank headquarters in Manhattan on December 5, 2012 in New York City.
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    Mario Tama via Getty Images
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    Citi boosts paid parental leave to match industry peers

    The bank is giving birth mothers an additional eight weeks of recovery time, bringing total leave to 24 weeks, in line with policies by Morgan Stanley and Barclays.

    By Dan Ennis • June 5, 2024
  • A group of young protesters marching fill the frame with signs that read "Planet Over Profit" and "Climate Justice" with a sunflower sprouting bottom to top as the "i" in climate and "t" in justice.
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    Spencer Platt/Getty Images via Getty Images
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    Sierra Club, NRDC drop legal challenges to SEC climate rule

    The two environmental groups have decided to focus resources elsewhere to improve climate-related financial disclosures.

    By • June 5, 2024
  • Wind turbines seen behind solar panels at a wind farm.
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    Mario Tama via Getty Images
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    Energy Capital Partners secures $6.7B to invest in clean energy industry

    The New Jersey-based private equity firm said its fifth flagship fund would invest in companies focused on power generation, decarbonization and renewable and storage assets.

    By • June 4, 2024
  • A main street in Vermont is flooded with one person wading through the water.
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    Kylie Cooper via Getty Images
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    Vermont sends climate change tab to fossil fuel companies

    The Green Mountain State passed legislation which holds oil and gas companies financially accountable for damage caused by climate change.

    By • June 4, 2024
  • View of trees from corporate building
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    Fahroni via Getty Images
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    Most M&A buyers would pay 3% extra for a company with a good ESG profile

    ESG is playing a bigger role in dealmaking than ever before, Deloitte said.

    By Jim Tyson • June 4, 2024
  • Bank of America's logo on a building façade
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    Mario Tama / Staff via Getty Images
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    Bank of America tweaks its restriction on firearms, energy lending

    New language indicates lending decisions go to senior risk officials for case-by-case evaluation, rather than being a non-negotiable “no.”

    By Dan Ennis • June 3, 2024
  • Wall Street sign with U.S. flags in background
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    lucky-photographer via Getty Images
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    SBTi tightens target-setting guidelines for financial institutions

    This is the first time public banks and asset managers have been looped into SBTi’s framework, which also includes fossil fuel financing target guidelines for the first time.

    By • May 31, 2024
  • Climate change protestors are seen marching.
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    Asanka Ratnayake via Getty Images
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    Asset, pension managers bolster Climate Action 100+ after member exodus

    The investor group was backed by the nation’s largest retirement fund and other pension systems Tuesday after it lost JPMorgan, State Street and PIMCO as members earlier this year.

    By • May 31, 2024
  • Wind turbines operate at a wind farm on March 05, 2024 near Palm Springs, California.
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    Mario Tama via Getty Images
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    Treasury issues proposed guidance on technology-neutral clean energy tax credits

    The new credits, which cover wind, solar, hydropower, nuclear, geothermal and other technologies, are “one of the [Inflation Reduction Act’s] most significant reforms,” the Treasury Department said in a release. 

    By Diana DiGangi • May 31, 2024
  • Stack of silver coins with seedlings ready to grow.
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    Sakorn Sukkasemsakorn via Getty Images
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    White House looks to bolster carbon market credibility

    The Biden administration released new principles for responsibly participating in voluntary carbon markets in what was called a “pragmatic step” by the CEO of carbon data platform Sylvera.

    By • May 30, 2024
  • American Airlines jet taking off from an airport runway.
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    Joe Raedle / Staff via Getty Images
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    American Airlines pilot’s anti-ESG lawsuit certified as class action

    The size of the certified class is expected to exceed 100,000, according to court documents, as the airline is accused of violating its ERISA duties.

    By • May 28, 2024