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Category: ECO_INVEST_CN

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Investors Commit $7.1 Trillion of Assets in Pursuit of 1.5°C Climate Goal

By Alastair Marsh

A coalition of pension funds and insurance companies that includes Allianz SE, the California Public Employees’ Retirement System and Zurich Insurance Group AG have committed to managing $7.1 trillion of assets in line with the Paris Agreement’s goal of limiting warming to 1.5 degrees Celsius.

09/20/22
                                                               

The future is being rewritten by historic green investment

By Justin Worland Photo: Hassaan Gondal/TIME

Last fall, Miami-Dade County committed to eliminating its entire carbon footprint within three decades. It was an ambitious target, but also a symbolic one: a private utility company, Florida Power and Light, provides the region’s electricity and operates free of county oversight.

09/15/22
                                                               

Gotham Greens just raised $310M to expand its greenhouses nationwide

By Brian Heater Photo: Gotham Greens

That’s not a typo. $310 million, with a zero at the end. This latest round brings Gotham Greens’ total funding up to $440 million since its 2009 launch. The nine-digit raise was led by BMO Impact Investment Fund and Ares Management, with participation from Commonfund, RockCreek, Kimco Realty Corporation, Manna Tree Partners and The Silverman Group.

09/12/22
                                                               
CNN

Big oil companies are spending millions to appear ‘green.’ Their investments tell a different story, report shows

By Lauren Kent

Big oil companies are spending millions to portray themselves as taking action on climate change, but their investments and lobbying activities don’t live up to their planet-friendly claims, according to a new report.

09/08/22
                                                               

BlackRock Seeks to Defend Its Reputation Over E.S.G. Fight

By Andrew Ross Sorkin and Others Photo: Lucas Jackson, Reuters

Yesterday, the world’s largest money manager published a letter pushing back on one it received last month from 19 Republican state attorneys general who accused BlackRock of putting its “climate agenda” ahead of clients, collaborating with climate activists and boycotting energy companies. Tensions between BlackRock and Texas in particular came to a head last month when the state accused BlackRock of boycotting energy companies, violating a 2021 law that aims to protect the energy industry from the growing popularity of climate-minded investing. As a result, BlackRock could be blackballed from managing the billions in retirement funds of Texas government employees.

Yesterday, the world’s largest money manager published a letter pushing back on one it received last month from 19 Republican state attorneys general who accused BlackRock of putting its “climate agenda” ahead of clients, collaborating with climate activists and boycotting energy companies. Tensions between BlackRock and Texas in particular came to a head last month when the state accused BlackRock of boycotting energy companies, violating a 2021 law that aims to protect the energy industry from the growing popularity of climate-minded investing. As a result, BlackRock could be blackballed from managing the billions in retirement funds of Texas government employees.

Yesterday, the world’s largest money manager published a letter pushing back on one it received last month from 19 Republican state attorneys general who accused BlackRock of putting its “climate agenda” ahead of clients, collaborating with climate activists and boycotting energy companies. Tensions between BlackRock and Texas in particular came to a head last month when the state accused BlackRock of boycotting energy companies, violating a 2021 law that aims to protect the energy industry from the growing popularity of climate-minded investing. As a result, BlackRock could be blackballed from managing the billions in retirement funds of Texas government employees.

09/08/22
                                                               

Clean energy projects surge after climate bill passage

By Jack Ewing and Ivan Penn Photo: David Walter Banks/The New York Times

Investments in battery factories, solar panel manufacturing and mining will help the Biden administration meet targets for reducing greenhouse gases.

09/07/22
                                                               

Donnel Baird Raises Over $100 Million For BlocPower By Discovering The Right Problem To Solve

By David Reimer

Donnel Baird created BlocPower to solve a huge problem that’s central to the global effort to address climate change. It is such a big problem that investors have poured over $100 million in debt and equity financing into the company to help him solve it. Nearly one-third of the carbon emissions generated in the United States comes from the energy required to heat buildings. Most of that energy comes from oil and gas which leads to the carbon emission problem. Donnel ultimately wondered, “what if we could change the source of energy? What if we could electrify buildings instead?”

08/30/22
                                                               

What the Inflation Reduction Act Means for Green Energy and EV Stocks

By Sam Taube

Despite its name, the Inflation Reduction Act is largely a climate spending bill. The bill, signed by President Joe Biden on Aug. 16, represents the largest climate investment in U.S. history, allocating about $370 billion to programs to mitigate the effects of climate change over the next 10 years.

08/16/22
                                                               

Climate First Bank Avoids 36K Tons of Emissions over 25 Years

By Staff Writer Photo: Climate First Bank

Climate First Bank financed 2,578.48 kW of renewable energy, which is more than 36,000 tons of CO2 emissions avoided over 25 years, according to Climate First Bank’s first Annual Impact Report
The report highlights the bank’s Environmental, Social and Governance (ESG) initiatives and their measured impact on the climate, community and economy.

08/03/22
                                                               

More Investors Vote Against Corporate Directors Over Climate Change

By Dieter Holger Photo: Xavier Mascarenas, Reuters

Investors are increasingly voting against the election of corporate directors to get companies they see as laggards on climate change to raise their ambitions.
So far this year, investors have cited climate change as a reason for opposing the election of a management-backed director at 225 U.S. companies, up from 157 in 2021 and 83 in 2020, according to shareholder disclosures. The preliminary 2022 data, which includes figures through July 7, was analyzed by Hannah Orowitz, U.S. head of environmental, social and governance at Georgeson LLC, which provides strategic shareholder services to corporations

07/21/22