The boom in so-called ESG investing has been accompanied by a sharp rise in complaints about greenwashing — exaggerations or misleading statements about environmental claims. It’s a rise driven by the so-called “greenium” — the money companies can save by convincing lenders to offer better terms when borrowing is tied to an ESG (environmental, social or governance) goal.
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A UN group set up to crack down on the greenwashing of net zero pledges by industry and government has called for “red lines” to stop support for new fossil fuel exploration and overuse of carbon offsets.
A UN panel rolled out a host of guidelines that would define credible net zero emissions targets and set out checklists for companies and cities to meet.
The big picture: The report, which was delivered to UN United Nations Secretary-General António Guterres at COP27 Tuesday morning, aims to bring order and clarity to the murky and confusing world of net zero target-setting and avoid greenwashing.
Clarification: The original map of New Yorkers for Affordable Energy in this report listed Consolidated Edison as a member of New Yorkers for Affordable Energy. We’ve changed the map to clarify that while Consolidated Edison has lobbied on CCPA and belongs to lobbying groups that are members of New Yorkers for Affordable Energy, the company itself is not a member of New Yorkers for Affordable Energy.
As net zero commitments reshape the world economy, and as the impacts of climate change accelerate, climate politics is getting existential. Vulnerable communities are fighting to survive. This month, one-third of Pakistan, a country of 220 million people, was flooded. At the same time, fossil fuel interest groups – coal, in particular – are trying every tactic to delay the inevitable.
PR firms are paid to engage in unethical tactics that intimidate and silence Americans who are exercising their rights to support actions that combat climate change wealthy and powerful corporate entities are dragging citizens and public interest opponents through meritless. But protracted and extremely costly litigation to expose anyone who dares to stand up to them to financial and personal ruin in its work to silence its critics. — Rep Katie Porter
Internal documents from major oil companies released by Democrats on the House Oversight Committee appear to cast doubt on their supposed climate and green energy commitments
Yvon Chouinard no longer owns Patagonia. Nearly 50 years after founding the enormously successful apparel company, now worth around $3 billion, the 83-year-old came up with an unusual solution to ensure that it continues in a way that aligns with his values and funds important environmental conservation work.
The documents, subpoenaed in a House investigation of climate disinformation, show company leaders contravening industry commitments….
This nine-part history of Exxon’s engagement with the emerging science of climate change is the result of an eight months-long investigation conducted in 2015. The stories span four decades, and are based on primary sources, including internal company documents dating back to the late 1970s; interviews with former company employees; and other evidence published for the first time by ICN.