Finance: Page 2


  • Front of building with a sign that says "Barclays."
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    The image by Gareth Milner is licensed under CC BY-SA 2.0
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    Texas AG bans Barclays from state municipal bonds over ESG

    The Lone Star state said the ban stems from the bank’s association with the Net Zero Banking Alliance and refusal to provide additional information about its carbon emissions commitments.

    By Jan. 29, 2024
  • The HSBC logo is seen outside a bank branch.
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    Matt Cardy via Getty Images
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    HSBC launches first net-zero transition plan in a move to slash emissions

    The bank’s plan to meet climate objectives comes against a backdrop of financial institutions facing pressure to address climate risk and sever ties with the fossil fuel industry.

    By Jan. 26, 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
  • A Chinese worker from Wuhan Guangsheng Photovoltaic Company works on a solar panel project on the roof of a 47 story building in a new development on May 15, 2017 in Wuhan, China.
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    Kevin Frayer via Getty Images
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    US solar industry awaits federal moves on interest rates, tax credits as global M&A activity drops 15%

    Global corporate solar funding rose to $34.3 billion last year with help from IRA incentives, while high interest rates slowed acquisition activity, said Mercom Capital Group CEO Raj Prabhu.

    By Diana DiGangi • Jan. 26, 2024
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    David McNew via Getty Images
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    76% of companies link pay to ESG performance in rising trend: WTW

    The biggest companies are weaving ESG into pay incentives despite a backlash against the use of sustainability as a metric for corporate performance.

    By Jim Tyson • Jan. 25, 2024
  • Flags fly above the entrance of the BlackRock offices.
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    Andrew Burton via Getty Images
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    BlackRock commits $500M to Recurrent Energy, expands renewable power portfolio

    The investment allows the asset manager to have a 20% stake in the company, and marks the inaugural transaction by its fourth climate infrastructure fund.

    By Jan. 24, 2024
  • A boat is seen in drought-stricken area in Nevada.
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    Ethan Miller via Getty Images
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    Public pensions in liberal-leaning states falling short on addressing climate risk: report

    Most public pension funds had inadequate proxy guidelines and proxy voting records to mitigate climate-related financial risks, Sierra Club found.

    By Jan. 23, 2024
  • Capitol building dome with U.S. flag
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    Michael M. Santiago via Getty Images
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    New Hampshire bill would make use of ESG in investments a felony

    The bill would punish “knowingly” using ESG factors in investment decisions with at least a year in prison.

    By Jan. 22, 2024
  • Rep. Bill Huizenga speaks with glasses and a pen in one hand.
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    Kevin Dietsch via Getty Images
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    House GOP says SEC is overstepping authority, cannot demand climate disclosures

    Expert witnesses for the Financial Services Subcommittee differed in legal interpretations of the agency’s power to issue the rule.

    By Jan. 19, 2024
  • Vehicles pass the Phillips 66 Los Angeles Refinery Wilmington Plant
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    Mario Tama via Getty Images
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    Exclusive: Pro-ESG group tallies $150M in Big Oil donations to Republicans opposing SEC climate rule

    A broad majority of the nearly 250 Republican state and congressional lawmakers have also expressed concerns about the rule’s inclusion of scope 3 disclosure, according to Unlocking America’s Future.

    By Jan. 18, 2024
  • Shot of BlackRock building from below with company logo centered and U.S. flag visible to the right of company name.
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    Spencer Platt via Getty Images
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    BlackRock buys Global Infrastructure Partners, makes $12.5B bet on infrastructure market

    The asset manager cited “a movement toward decarbonization and energy security in many parts of the world” as a reason for the deal.

    By Jan. 16, 2024
  • The Old Courthouse in downtown St. Louis with the Gateway Arch behind
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    Joe Hendrickson via Getty Images
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    Missouri’s bid to dismiss anti ESG-rules suit is denied

    The U.S. federal judge’s decision greenlights a lawsuit challenging two of the state’s ESG rules that affect financial institutions.

    By Jan. 10, 2024
  • Activists participate in an Earth Day march with a sign that says "End the Era of Fossil Fuels"
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    Anna Moneymaker via Getty Images
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    Deep Dive

    4 ESG trends that set the tone for 2024

    It’s shaping up to be a big year for ESG with a packed SEC agenda, fights over corporate DEI efforts and shareholder rights and a focus on financing the net zero transition.

    By , Jan. 10, 2024
  • A man passes by the sign of the World Bank Group.
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    Alex Wong via Getty Images
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    World Bank launches $5B sustainable development bond

    The 7-year benchmark bond will mature in January 2031 and seeks to support the financial institution’s goals to “end extreme poverty and boost prosperity.”

    By Jan. 8, 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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    EU’s financial regulator: Stronger regulation needed to deter greenwashing

    The European Securities and Markets Authority found negligible stock-based impacts of ESG controversies on companies, noting a lack of market-based mechanisms to prevent greenwashing. 

    By Iulia Gheorghiu • Jan. 3, 2024
  • Wind turbines stand against a backdrop of green fields and mountains.
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    Chip Somodevilla via Getty Images
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    ESG to factor strongly in 2024 executive pay plans despite pushback: WTW

    Environmental, social and governance strategies are “here to stay,” consultants said. But U.S. company boards are also seeking a more tailored approach.

    By Ryan Golden • Dec. 22, 2023
  • A street sign for Wall Street in front of the facade of the New York Stock Exchange.
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    JaysonPhotography via Getty Images
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    New York finalizes climate-risk guidance for financial institutions

    The state said the new rules will help banking and mortgage institutions prepare for the physical and transition risks of climate change.

    By Dec. 22, 2023
  • Close up high angle Asian businesswoman working with her coworker in meeting room
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    Edwin Tan via Getty Images
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    Gen Z, millennial investor confidence slips regarding ESG investments

    The number of investors under 41 years old who wanted fund managers to advocate for environmental change, even if it decreased their investment, dropped from 85% last year to 66%. 

    By Iulia Gheorghiu • Dec. 21, 2023
  • The flag of the European Union is projected on helium balloon reflected in a puddle on a cobblestone street.
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    Gabriel Kuchta via Getty Images
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    EU Council reaches agreement on new ESG rating rule

    The regulation is designed to increase transparency of sustainability score providers and will apply to non-European Union based companies looking to operate in the bloc.

    By Dec. 21, 2023
  • A man walks into a BlackRock office building.
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    Andrew Burton via Getty Images
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    Tennessee sues BlackRock over ‘misleading’ ESG strategy

    The lawsuit claims the $9.1 trillion firm misled consumers about the scope and effects of its ESG activity and released conflicting statements regarding ESG’s influence over its business decisions. 

    By Anna Hrushka • Dec. 19, 2023
  • A below view of the EU flag is seen, surrounded by flags of the European bloc's member countries.
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    Ian Waldie via Getty Images
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    Banks are excluded from EU’s human rights, due diligence regulation — for now

    Despite opposition to leaving financial institutions out, the final draft of the Corporate Sustainability Due Diligence Directive only states the sector may need to comply at a later date.

    By Dec. 19, 2023
  • Navy Federal Credit Union, Douglasville Georgia location
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    Permission granted by Navy Federal Credit Union
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    Navy Federal sued over alleged mortgage disparity by race

    The credit union last year approved 48.5% of mortgage applications from Black borrowers, but 77.1% from White ones, CNN found. The gap drew comparisons to similar numbers from Wells Fargo in 2020.

    By Dan Ennis • Dec. 19, 2023
  • Participants walk around the conference with COP28 UAE flags lining the walkway.
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    Sean Gallup via Getty Images
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    COP28 takeaways: More than $7B mobilized for food system climate action

    With the end of the U.N. climate summit, here's a final tally of some of the major financial commitments and sustainability pledges meant to transform the agricultural and food sectors. 

    By Sarah Zimmerman • Dec. 18, 2023
  • The Goldman Sachs logo is seen on at the New York Stock Exchange on September 13, 2022 in New York City.
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    Michael M. Santiago / Staff via Getty Images
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    Goldman Sachs to liquidate Paris-aligned climate ETF in new year

    The fund closure bookends a year of contraction for the sustainable funds market, though the financial services firm said the move is not indicative of its broader positions.

    By Dec. 15, 2023
  • Shot of BlackRock NYC offices
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    Andrew Burton / Staff via Getty Images
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    House panel to subpoena BlackRock, State Street on ESG practices

    House Judiciary Committee Chair Jim Jordan will subpoena four firms for more answers as to whether the companies’ climate-related efforts violate federal antitrust laws, Bloomberg reported.

    By Gabrielle Saulsbery • Dec. 14, 2023
  • Coal falls off a conveyor belt onto a larger pile of coal. Multiple mounds of coal can be seen.
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    George Frey via Getty Images
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    Companies setting their own carbon prices without global standard: Reuters

    The new analysis from the Climate Disclosure Project has found companies’ internal carbon prices range anywhere from under $1 to $1,600 per metric ton of carbon emissions.

    By Dec. 13, 2023