Finance: Page 23
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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 -
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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 -
Drew Angerer via Getty Images
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 -
Kent Nishimura via Getty Images
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 -
Andrew Burton via Getty Images
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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American Airlines pushes back after failed dismissal of pilot’s anti-ESG lawsuit
The Texas-based airline said its pilot has provided no breach or loss to support his claims and asked the judge to rule solely on the merits of the case.
By Lamar Johnson • Feb. 29, 2024 -
Drew Angerer via Getty Images
House GOP launches new probe into ESG investing
Oversight Committee Chair James Comer asked the Federal Reserve whether industry coalitions with ESG goals could constitute control of regulated companies.
By Lamar Johnson • Feb. 28, 2024 -
Scott Olson / Staff via Getty Images
American Airlines must face pilot’s lawsuit over ESG investments
Federal Judge Reed O’Connor said the pilot has a plausible enough complaint to continue, despite not yet factually proving any harm.
By Lamar Johnson • Feb. 26, 2024 -
Getty Images
Solar, battery storage will be 81% of new electricity generation capacity this year: EIA
Solar will increase by a record 36.4 GW if additions proceed as scheduled this year, the U.S. Energy Information Administration said.
By Diana DiGangi • Feb. 22, 2024 -
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Verizon allocates $1B green bond proceeds to renewable energy projects
The telecommunications provider’s investment builds on its goal to achieve net-zero emissions across its operations by 2035.
By Zoya Mirza • Feb. 21, 2024 -
Lamar Johnson/ESG Dive
Push for climate policy and adaptation lead concerns at GreenBiz24
More than 2,500 sustainability professionals flocked to Phoenix for the GreenBiz24 conference to hear the industry’s latest insights.
By Lamar Johnson • Feb. 21, 2024 -
David Dee Delgado via Getty Images
New York pension fund to divest $26.8M from 8 oil companies, including ExxonMobil
The state pension fund has also set a new goal to commit $40 billion to sustainable investments and climate solutions by 2035.
By Zoya Mirza • Feb. 20, 2024 -
Andrew Burton via Getty Images
BlackRock expands voting choice program to individual investors
The asset manager will now allow over 3 million additional investors to take control of their power in the proxy vote process.
By Lamar Johnson • Feb. 16, 2024 -
Spencer Platt via Getty Images
JPMorgan, State Street exit Climate Action 100+ coalition
BlackRock also revised its membership after the coalition announced its “phase 2” requirements that signatories enhance their corporate disclosure and implement climate transition plans.
By Zoya Mirza • Feb. 15, 2024 -
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US clean energy sector is breaking records but presidential election, other challenges loom: WRI
“Policymakers, regulators, developers and manufacturers must double down on their efforts to address key challenges,” said the World Resources Institute in a report.
By Diana DiGangi • Feb. 15, 2024 -
David McNew via Getty Images
GreenBiz24: Insurance industry must incentivize climate change adaptation
The insurance industry needs to move away from a reactionary posture and begin rewarding companies that are focused on adapting and transition technology, according to a panel expert.
By Lamar Johnson • Feb. 14, 2024 -
Spencer Platt via Getty Images
Diamondback inks $26B deal to buy rival Endeavor Energy, creates Permian oil behemoth
The new consolidated company will be worth more than $50 billion and able to pump 816,000 barrels of oil and gas per day.
By Zoya Mirza • Feb. 13, 2024 -
The image by FirstEnergy is licensed under CC BY-ND 2.0
FirstEnergy increases 5-year spending plan 44%, to $26B, drops 2030 carbon goal
The company abandoned its plan to cut carbon emissions 30% below 2019 levels by 2030 amid tightening power supplies in the PJM Interconnection, but it still intends to be net carbon neutral by 2050.
By Ethan Howland • Feb. 13, 2024 -
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HSBC partners with Google, works toward $1B climate tech investments goal
Under the new deal, companies part of the GCR-sustainability program will be able to explore venture debt financing options offered by HSBC’s specialist climate tech finance team.
By Zoya Mirza • Feb. 12, 2024 -
Oli Scarff via Getty Images
Barclays ceases direct funding of new fossil fuel projects
The London-based bank will also require all its portfolio energy companies to report their scoped emissions reductions targets and any expansion plans by Jan. 1, 2025.
By Lamar Johnson • Feb. 12, 2024 -
Joe Raedle via Getty Images
Cost cutbacks to go hand-in-hand with emissions reduction strategy: USPS
The postal service said it plans to slash scope 1 and 2 emissions by 40% and scope 3 emissions by 20% by 2030, compared to a 2021 baseline.
By Zoya Mirza • Feb. 9, 2024 -
Justin Sullivan via Getty Images
Shell rebrands climate tech company Studio X as Onward, eyes net-zero economy
The updated energy venture falls in line with the oil major’s goal to become a net-zero emissions energy business by 2050.
By Zoya Mirza • Feb. 8, 2024 -
Mario Tama via Getty Images
Recurrent Energy raises $160M, secures Microsoft as client for solar project
The tech giant will be the sole purchaser of all the energy and renewable energy credits produced by the Louisiana-based Bayou Galion Solar project.
By Zoya Mirza • Feb. 7, 2024
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