Finance: Page 28

  • Green COP28 flags line palm trees on a walkway leading to a dome with conference attendees scattered around.
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    Sean Gallup via Getty Images
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    COP28 Finance Day rundown: US pledges $3B to Green Climate Fund, think tank launches

    The United States’ contribution is part of a record funding round for the GCF and one of more than 40 pledges on the day.

    By • Dec. 6, 2023
  • The Alameda Avenue entrance to the Walt Disney Studios in Burbank, California. This was taken just after a major renovation in summer 2016, in which the dated tropical pastels of the gateway arch were
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    By Coolcaesar - Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=52572750
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    Disney says ESG policies could cut into profits

    Oklahoma’s state treasurer said the filing proves taking environmental, social and governance factors into account diminishes shareholder returns.

    By • Dec. 4, 2023
  • Visual displaying components of ESG. Explore the Trendline➔
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    Getty Images
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    Trendline

    Top 5 stories from ESG Dive

    The landscape for ESG continues to shift, as U.S. exits from major climate agreements and organizations are juxtaposed with states forging ahead with their own climate disclosure laws.

    By ESG Dive staff
  • Aerial view of solar array farm in a Chilean desert.
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    John Moore via Getty Images
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    JPMorgan, Citi, Goldman Sachs and others launch task force to scale financing for UN’s sustainable goals

    The taskforce, which is spearheaded by several banks and financial institutions, will focus on helping developing economies and increasing their access to sustainable capital.

    By • Nov. 30, 2023
  • Close up of solar panels with city skyline background
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    Getty Images
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    IRS and Treasury propose clean energy investment tax credit updates

    The proposed regulations would further define what qualifies as an ITC-eligible energy property and address Inflation Reduction Act-related wage and apprenticeship requirements.

    By Joe Burns • Nov. 28, 2023
  • A man walks outside the EY offices in London.
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    Jack Taylor via Getty Images
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    Deloitte, EY partner with tech to accelerate clients’ sustainability goals

    Deloitte is linking up with IBM, while EY collaborates with AspenTech, as the two consulting firms look for software tools to help mitigate companies’ carbon footprint.

    By • Nov. 28, 2023
  • Two unknown men walk into a red and glass paneled building that says NYU Stern School of Business with NYU flags flying on the right side of the photo.
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    CribbVisuals via Getty Images
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    NYU’s Stern calls for system overhaul in ESG ratings

    Environmental, social and governance investing should center on companies’ impacts on the environment and society rather than shareholder profit, the report argues.

    By • Nov. 27, 2023
  • The front facade of the Oklahoma State Capitol building.
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    Getty Images
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    State pensioner hits Oklahoma with lawsuit over its anti-ESG law

    The plaintiff alleges the state’s Energy Discrimination Elimination Act, which blacklists financial institutions that boycott oil and gas companies, is unconstitutional and hurts beneficiaries.

    By • Nov. 27, 2023
  • The headquarters of BlackRock in Manhattan.
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    Spencer Platt/ESG Dive, data from Getty Images
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    BlackRock nabs $1B for energy transition infrastructure fund

    The Evergreen Infrastructure fund aims to invest in businesses focused on energy security and has already acquired a portfolio of renewable investments.

    By • Nov. 20, 2023
  • People walk in front of a JPMorgan Chase & Co. sign at its headquarters in New York City.
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    Spencer Platt via Getty Images
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    JPMorgan to include low-carbon power generation in climate risk calculations

    The bank said it would reduce financing in the oil and gas sector and increase financing for zero- and low-carbon power generation as part of its new “Energy Mix” policy.

    By • Nov. 20, 2023
  • CalPERS logo outside its building in Sacramento.
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    Max Whittaker via Getty Images
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    CalPERS aims to double climate investments to $100B by 2030

    The country’s largest pension fund said it would integrate ESG into its investment strategy and divest from companies “without credible net-zero plans.”

    By • Nov. 16, 2023
  • Governor of Texas holds a meeting with the governor of Floroida.
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    (2021). [Photograph]. Retrieved from Office of the Texas Governor.
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    Deep Dive

    The ESG battle: 4 key states shaping regulatory discourse in the US

    Left-leaning California and New York and conservative-led Florida and Texas have stepped up regulatory measures to underscore ESG’s role — or lack thereof — in their jurisdictions.

    By , • Nov. 16, 2023
  • The Federal Deposit Insurance Corp. headquarters in Washington, D.C.
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    Anna Hrushka/ESG Dive
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    FDIC proposes adoption of Fair Hiring in Banking Act

    The proposal would relax employment restrictions, eliminating the need for individuals convicted of certain minor offenses to seek approval before being able to work at federally insured institutions.

    By • Nov. 15, 2023
  • A tram passes the giant Euro symbol with high rise office buildings the city of Frankfurt am, Germany in the background
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    Hannelore Foerster via Getty Images
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    Banks might dodge EU’s supply chain sustainability regulations

    The proposed carveout for financial institutions would exclude them from having to submit climate transition plans.

    By • Nov. 14, 2023
  • World leaders attended the Climate Ambition Summit at the United Nations Headquarters
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    Kena Betancur via Getty Images
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    ESG and sustainability conferences to keep on your radar for 2024

    Upcoming events will cover sustainable finance, corporate strategy and governance, climate change, supply chain, social impact and more.

    By , • Updated June 7, 2024
  • Silhouettes of business people
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    Deep Dive

    Making the case for women-owned banks

    Three women-owned banks have emerged in the last several years with the shared goal of increasing access to capital for female entrepreneurs.

    By Anna Hrushka • Nov. 13, 2023
  • Heavy smoke clouds of carbon emissions spew from three cylindrical columns rising from a factory in the background, partly obscured by trees, with the roof of a house barely visible in the foreground.
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    Mark Wilson via Getty Images
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    BlackRock invests $550M in Occidental’s industrial-scale direct air capture plant

    The Texas-based Stratos facility is expected to be operational in 2025 and designed to capture up to 500,000 metric tons of CO2 per year.

    By • Nov. 13, 2023
  • Committee Chair Jason Smith is seated speaking center with ranking member Richard Neal on his left, photo right, and Vern Buchanan to the right, photo left. Three reps out of focus below.
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    Drew Angerer via Getty Images
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    House Republicans argue Labor Department ESG rule runs afoul of tax code

    The Committee on Ways and Means’ majority raised objections to the Biden administration rule and called it a tactic to “use retirement savings to finance a political agenda.”

    By • Nov. 8, 2023
  • solar panels farms cattle
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    Abhishek Chinnappa via Getty Images
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    How tech, venture capital can help food industry meet 2030 emissions goals

    Efforts like feed additives for cattle and implementing solar panels on farms can help producers decrease their carbon footprint, Ceres said in its latest report.

    By Chris Casey • Nov. 8, 2023
  • Businesswoman working with her coworker in a meeting room.
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    Getty Images
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    Credit union regulator proposes rule loosening hiring restrictions

    The National Credit Union Administration Board aims to expand career opportunities for individuals convicted of certain minor offenses and advance financial inclusion and equity within the credit union system.

    By • Nov. 7, 2023
  • An aerial view of a Texas Oil Refinery
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    Brandon Bell via Getty Images
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    Texas Comptroller adds 5 companies to divestment list for fossil fuel stance

    The additions are part of a growing list of names drawn by the Lone Star state, which now mentions more than 350 investment funds and 15 companies, including BlackRock, BNP Paribas and UBS.

    By • Nov. 6, 2023
  • Jim Jordan sits behind a podium with his right hand around a pen and resting on his chin. Out of focus, the podium reads "Mr. Jordan, Chairman."
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    Chip Somodevilla via Getty Images
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    House Judiciary subpoenas ESG, net-zero advocates alleging antitrust violations

    Chair Jim Jordan subpoenaed financial coalition GFANZ and advocacy group As You Sow, whose CEO called the warrant “unfounded” and said the underlying allegations are “twisting the facts.” 

    By • Nov. 3, 2023
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    Drew Angerer / Staff via Getty Images
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    TD buys carbon removal credits

    Over four years, TD said it will purchase 27,500 metric tons of direct-air-capture carbon dioxide removal credits from Occidental Petroleum. Financial details of the transaction were not disclosed.

    By Gabrielle Saulsbery • Nov. 1, 2023
  • Utah State Attorney General Sean Reyes sitting and speaking with his right hand raised, an american flag pin on his right lapel, a flag handkerchief in right suit breast pocket and blue paisley tie
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    Gabriel Aponte via Getty Images
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    Republican AGs continue fight against Biden ESG rule

    A coalition of 26 state attorneys general said it is willing to fight the Labor Department rule allowing ESG considerations for employee retirement plan managers all the way to the U.S. Supreme Court.

    By • Oct. 30, 2023
  • A close up of the Department of Treasury seal on the front of the headquarters with "the Department of Treasury" and "1789" on an outer circle and a shield with the scales of justice up top and a key.
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    Chip Somodevilla via Getty Images
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    Trio of federal agencies update bank guidelines for financial climate risks

    Bank regulators issued new guidance for how large institutions should handle climate risk and updated an anti-redlining law to assign them more responsibility for climate risks.

    By • Oct. 26, 2023
  • The Wall Street street sign is visible in the foreground with a picture of a trader in front of the stock market on the left of the sign. Three american flags are out of focus in the background.
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    Spencer Platt via Getty Images
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    $2.7B in assets pulled from sustainable funds market: Morningstar

    Sustainable fund closures outpaced new launches for the first time since 2020, and outflow outpaced investments for the fourth consecutive quarter, according to the financial research firm.

    By • Oct. 25, 2023