Corporate Governance: Page 2

  • 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
  • The ExxonMobil logo displayed at its campus in Houston, Texas.
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    Brandon Bell via Getty Images
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    ExxonMobil’s ongoing war on ESG

    The oil major is forging ahead with legal action against shareholders who pushed for climate action, despite resistance from state funds and finance officials who have rallied against its suit.

    By , • Updated June 18, 2024
  • Solar panels are laid out on the roof of a factory. Explore the Trendline➔
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    Creative via Getty Images
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    Trendline

    Merging of ESG standards and frameworks eases reporting struggles for companies

    Corporations navigating the ESG landscape have reported a lack of clarity on what data to report and to whom. An acceleration in the amalgamation of frameworks and standards seeks to solve this problem.

    By Sudaten staff
  • A sign is posted in front of a Google office on April 26, 2022 in San Francisco, California. Google parent company Alphabet will report first quarter earnings today after the closing bell.
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    Justin Sullivan via Getty Images
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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.

    By • May 29, 2024
  • ExxonMobil CEO Darren Woods sits with hands folded
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    Apu Gomes via Getty Images
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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.

    By • May 29, 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
  • The logo of German pharmaceuticals and chemicals giant Bayer stands over Bayer corporate offices on September 14, 2016 in Berlin, Germany.
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    Sean Gallup via Getty Images
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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.

    By Suman Bhattacharyya • May 28, 2024
  • Exxon
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    Brandon Bell via Getty Images
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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.

    By • May 24, 2024
  • Photo looking up at high rises and Wall Street sign.
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    franckreporter via Getty Images
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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.

    By • May 24, 2024
  • A close up of Shell's logo.
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    Scott Barbour via Getty Images
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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.

    By • May 23, 2024
  • View of a gas price board
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    Win McNamee via Getty Images
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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.

    By • May 23, 2024
  • 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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    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.

    By • May 22, 2024
  • Delta Air Lines passenger jet in mid flight.
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    Permission granted by Kyndryl
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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.

    By • May 22, 2024
  • CalPERS logo outside its building in Sacramento.
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    Max Whittaker via Getty Images
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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.

    By • May 21, 2024
  • A picture of the ceiling at Boston Consulting Group's office, displaying its logo.
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    Courtesy of BCG
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    Q&A

    How companies should approach compliance under multiple climate reporting regulations: BCG

    Companies may need to reorganize as climate disclosure mandates take shape, says Tim Mohin, a partner and director at Boston Consulting Group.

    By Suman Bhattacharyya • May 20, 2024
  • The California Public Employees' Retirement System building seen during daytime.
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    Max Whittaker via Getty Images
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    CalPERS to commit $25B to private market climate solutions

    The allocation is part of the California pension fund’s strategy to double its climate investments to $100 billion by 2030, which it announced last year.

    By • May 17, 2024
  • The Lego Brand logo is seen at the store.
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    Leon Neal via Getty Images
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    Lego links employee compensation to decarbonization goals

    Though the new performance metric is primarily linked to the company’s direct emissions, Lego said it aims to “expand” it over time to include scope 3 as well.

    By • May 16, 2024
  • A man walks into a BlackRock office building.
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    Andrew Burton via Getty Images
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    BlackRock shareholders appoint Aramco CEO to board, despite pushback

    A senior strategist for Sierra Club’s Fossil-Free Finance campaign said shareholders cast “concerning votes” on climate-related issues and “appear timid” to engage with BlackRock.

    By • May 16, 2024
  • Bales of clothing and textiles are pictured in a store house.
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    Stock via Getty Images
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    Q&A

    Regulations could improve ESG in fashion, but Worldly exec says it’s not enough

    James Schaffer said recent mandates that require companies to disclose financial and environmental risks are a bellwether of the industry’s future.

    By Laurel Deppen • May 16, 2024
  • Judge’s gavel, Themis sculpture and collection of legal books on the brown background.
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    Zolnierek via Getty Images
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    Challenge to SEC’s enhanced proxy reporting rule dismissed by appeals court

    The Fifth Circuit Court of Appeals said the lawsuit put forward by four Republican-led states lacked standing and failed to provide evidence of alleged increased compliance costs.

    By • May 13, 2024
  • The Canary Wharf headquarters of Barclays Bank.
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    Oli Scarff via Getty Images
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    Barclays pressed on climate commitments and Gaza at annual meeting

    The bank was asked to pull back financing for its North American fracking operations during the meeting as it faced protests over its alleged ties to the war in the Middle East outside the venue.

    By • May 10, 2024
  • Front facade of Oklahoma's state capitol building.
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    Creative via Getty Images
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    Oklahoma judge hits pause on state’s anti-ESG law

    A district court judge issued a temporary injunction Tuesday, blocking enforcement of a state law which boycotted firms over their alleged stance on fossil fuels.

    By • May 9, 2024
  • A boy is seen from behind as he looks at M&M candy dispensers.
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    Spencer Platt via Getty Images
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    Snickers owner Mars commits $47M to slash dairy emissions

    The confectionery giant is testing seaweed feed supplements and plans to open three net-zero farms as it looks to halve its carbon footprint by 2030.

    By Sarah Zimmerman • May 9, 2024
  • A view of an industrial chimney releasing fumes, steam and polluting gases
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    Jose Gulias Trigas via Getty Images
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    Opinion

    There are 3 fundamental problems with scope 2 emissions accounting. Here’s how to fix them.

    Society cannot afford actions and expenditures to support claims of progress while not accomplishing real-world emission reductions.

    By Neil Fisher, Roger Ballentine and Armond Cohen • May 8, 2024
  • CEO Satya Nadella of Microsoft pictured on stage with the Microsoft logo in the background.
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    Ethan Miller via Getty Images
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    Microsoft pens landmark carbon removal contract with Stockholm Exergi

    The carbon removal deal — which both companies said is the “largest to date” — will allow the tech giant to permanently remove 3.3 million metric tons of carbon dioxide.

    By • May 7, 2024
  • Business man talking to his team in a meeting at the office.
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    Getty Creative via Getty Images
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    81% of companies not covered by CSRD still plan to comply: Workiva

    Workiva’s global vice president of ESG said the EU’s Corporate Sustainability Reporting Directive is becoming the “gold standard,” with or without the SEC’s climate rule.

    By • May 7, 2024