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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.”
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IFRS, GRI seek full interoperability as global jurisdictions align with ISSB
The organization behind the International Sustainability Standards Board also said jurisdictions accounting for 55% of global GDP are aligning with its frameworks.
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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.
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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.
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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.
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UN agency launches ESG metrics to measure workplace reproductive health care access
The UNFPA unveiled a slate of ESG indicators organizations can use to measure their performance across various sexual and reproductive issues being faced by their employees.
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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.
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Why is the gender pay gap widening in STEM?
While the reasons for the gap remain stubborn problems, job search engine Adzuna hypothesizes that this specific issue is a result of the pandemic.
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ExxonMobil CEO, board slate approved despite public opposition
Darren Woods and the oil major’s board of directors were re-elected at Wednesday’s annual board meeting, despite several shareholders protesting Exxon’s suit against its investors.
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Google, Meta, Microsoft, Salesforce launch coalition to contract carbon removal credits
The Symbiosis Coalition aims to purchase up to 20 million tons of nature-based carbon removal credits for the tech companies by 2030.
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EEI joins AEP, Duke, other utilities in suing EPA over power plant greenhouse gas rule
The trade group for investor-owned utilities contends it is “premature” to set emission limits based on carbon capture technology.
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Scope 3 emissions reporting is a ‘when,’ not an ‘if’ for companies: Bayer, Zycus execs
ESG experts from the pharmaceutical company and procurement software provider made the case for reporting on scope 3 emissions early during a panel discussion.
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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.
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Opinion
3 ESG lessons CFOs can learn from SOX compliance
ESG reporting may be a relatively new challenge but there is nothing new about C-suite leaders facing “perfect storm” reporting requirements, Wolters Kluwer's Alessio Lolli writes.
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Judge green lights ExxonMobil’s suit against Arjuna Capital, dismisses Follow This
Texas’ Northern District Court said it would not drop the oil giant’s lawsuit against its activist investors, but dismissed Netherlands-based Follow This as it fell outside its jurisdiction.
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JPMorgan, Morgan Stanley shareholders modestly support Indigenous rights, climate proposals
While voters did not approve shareholder resolutions at either meeting, the results displayed similar, if not greater, support as nearly identical proposals at other large U.S. banks.
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Toyota debuts renewable energy system at Port of Long Beach
Called “Tri-gen,” the system produces renewable electricity, renewable hydrogen and usable water from biogas.
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State finance officials, fund trustees join CalPERS to oppose ExxonMobil slate
A group of 13 state officials and pension plan leaders have urged major asset managers to vote against the oil major’s board and CEO at its May 29 annual meeting.
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Shell shareholders approve diluted climate strategy at annual meeting
Shareholders also rejected a resolution from shareholder activist Follow This to align the oil major’s scope 3 goals with the Paris Agreement.
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Opinion
Investing in green companies: Why private equity should lead the charge
Investing in green companies not only addresses pressing environmental concerns but offers compelling financial returns as well.
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House Democrats probe Texas, Florida over financial impact of anti-ESG laws
Both conservative-led states have laws in place that ban consideration of ESG factors within state funds and policies, leading to divestments from firms that allegedly boycott fossil fuels.
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Delta’s 2023 emissions exceeded pre-pandemic levels as air travel bounced back: report
While the airline’s overall emissions topped its 2019 baseline, its scope 1 and 2 emissions remain below pre-pandemic levels.
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Inside Honda’s updated multibillion-dollar electrification strategy
The massive investments will be used to establish a comprehensive electric vehicle value chain.
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Anti-ESG laws hurting Texas economically, unpopular with voters: research
Pro-ESG group Unlocking America’s Future said Texas’ anti-ESG laws are hurting the state’s reputation as being “good for business.”
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CalPERS to vote against ExxonMobil directors at shareholder meeting
The country’s largest pension fund said it would oppose appointment of all 12 of the oil giant’s board of directors, citing its lawsuit against Arjuna Capital and Follow This.
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