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How a Republican effort punishes companies for climate action

By David Gelles and Hiroko Tabuchi Photo: Kieran Dodds for The New York Times

Legislators and their allies are running an aggressive campaign that uses public money and the law to pressure businesses they say are pushing “woke” causes.

05/27/22
                                                               

People in US and UK face huge financial hit if fossil fuels lose value, study shows

By Damien Carrington Photo: Martin Meissner , AP

Individuals in rich countries face huge financial losses if climate action slashes the value of fossil fuel assets, a study shows, despite many oil and gas fields being in other countries.

05/26/22
                                                               

Vanguard refuses to end new fossil fuel investments

By Chris Flood

Chief executive Tim Buckley said the group, which manages $8.1tn for more than 30mn investors and is the largest investor in coal companies globally, was determined to safeguard its clients from climate risks but this would not require it to end new commitments to fossil fuel industries.

05/26/22
                                                               

Investors reject climate proposals targeting ExxonMobil, Chevron

By Maxine Joselow Photo: Richard Drew/AP

Nearly two-thirds of investors in ExxonMobil and Chevron on Wednesday rejected proposals for the oil giants to align their climate strategies with the Paris agreement.

05/26/22
                                                               

Big Tech is pouring millions into the wrong climate solution at Davos

By Justine Calma Photo: Dursun Aydemir , Getty Images

Alphabet, Microsoft, and Salesforce today pledged $500 million to new climate tech that’s supposed to pull carbon dioxide out of the atmosphere to keep it from heating up the planet. It’s the latest move by Big Tech to propel the emerging technology forward while painting themselves as global leaders when it comes to taking action on climate change.

05/25/22
                                                               

3 ways to fix ESG ratings to meet investors’ expectations

By Tom Lyon Photo: Maja Hitij/Getty Images

ESG ratings agencies typically rate companies against others within their industry, so oil and gas companies are rated separately from automotive companies or technology companies. Exxon stacks up fairly well relative to others in the oil and gas category on many measures. But if you compared Exxon to, say, Apple, Exxon would look terrible on its total greenhouse gas emissions.

05/25/22
                                                               

A feud over fossil fuel money

By Manuela Andreoni

At Stanford University, the question is ringing loud. This month, hundreds of students, faculty members and alumni, in an open letter, called on the university’s new climate school to decline funding from fossil fuel companies.

05/24/22
                                                               

Inaction on climate change could cost economy $178 trillion: Deloitte

By Deloitte

Inaction on climate change could cost the economy $178 trillion over the next 50 years, or a 7.6 percent cut to gross domestic product (GDP) in 2070, a research report from Deloitte Center for Sustainable Progress (DCSP) said…

05/23/22
                                                               

HSBC suspends head of responsible investing who called climate warnings ‘shrill’

By Kalyeena Makortoff Photo: Joe Raedle , Getty Images

HSBC has suspended a senior banker after he referred to climate crisis warnings as “unsubstantiated” and “shrill” during a conference speech that has since been denounced by the lender’s chief executive.
Stuart Kirk, who has been HSBC’s head of responsible investing since last July, will remain suspended until the bank completes an internal investigation into the matter.

05/22/22
                                                               

The Pushback on E.S.G. Investing

By Andrew Ros Sorkin and Others Photo: Brandon Thibodeaux , New York Times

While speaking about energy policy in Texas yesterday, former Vice President Mike Pence, a potential 2024 Republican presidential contender, said he wanted to “rein in” E.S.G., or investing based on environmental, social and governance principles. He is not alone.

05/11/22