Michelle Edkins, BlackRock’s (BLK.N) global head of investment stewardship, said in an interview on Tuesday that the pandemic is consuming corporate attention but indicated that BlackRock will not cut company directors slack as it decides whether to back their re-election. BlackRock will continue to judge whether boards have made progress against goals BlackRock has touted…
Category: climate change
Campaign contributions pay off for Ohio utilities and coal interests
Utility, nuclear and coal interests are big players in Ohio politics, giving about $3 million to Ohio political campaigns in 2018, according to data from the National Institute on Money in Politics. The industry interests have long been active politically. But just as competitive markets began coming into their own around 2010, the pattern of…
Jupiter Backs Barclays Shareholder Resolution on Climate Change – Bloomberg
Jupiter Asset Management has thrown its weight behind a shareholder campaign urging Barclays Plc to set out how it will stop financing energy firms that don’t align with the Paris Agreement climate goals. The London-based fund manager joins around a dozen institutions including Amundi SA to back what supporters say is the first climate change…
Wall Street Backs Away From Arctic Drilling Amid Alaska Political Heat – The New York Times
Three big U.S. banks have publicly announced break-ups with Arctic drilling in recent months, reflecting Wall Street’s increasing desire to cast itself as environmentally friendly amid a political firestorm in Alaska. Banks and investment managers have been backing away from fossil-fuel development in the face of worsening climate change and pressure from activists, even as…
Ex-Facebook executive starts group to help employees push companies on climate – Reuters
Beyond their own operations, however, many companies have refrained from advocating for broader solutions needed to avoid a global catastrophe, said Bill Weihl, who led sustainability efforts at Facebook and Google and will head the new organization, ClimateVoice. Employees at tech companies have objected to selling cloud services to Big Oil, and companies are reticent…
JPMorgan rejects calls to disclose lending’s impact on climate | American Banker
JPMorgan Chase is resisting proposals from activist investors that would require it to take stock of the impact its lending activities are having on climate change. Several members of the Interfaith Center on Corporate Responsibility want to put several climate-related proposals to a shareholder vote that would, among other things, ask the bank disclose how…
Majority Action Wants Former Exxon CEO Off the Board of JPMorgan
Few people are in a position to influence Jamie Dimon, the chief executive who turned JPMorgan Chase & Co. into the biggest U.S. bank. The longtime climate skeptic who turned Exxon Mobil Corp. into the biggest U.S. oil company is one of them. Lee R. Raymond, 81, holds the top position on JPMorgan’s 11-member board…
These corporations are quietly bankrolling Congress’ top climate denier – Popular Information
Judd Legum points out that the climate change rhetoric of Amazon, Dell, GE, Microsoft, and Google is inconsistent with their support for the biggest climate change denier in Congress. Amazon has donated $8500 in the 2020 cycle to support the reelection of Senator Jim Inhofe (R-OK), the most powerful and outspoken climate denier in Congress….
Jim Cramer on Chevron and Exxon declines: ‘I’m done with fossil fuels. They’re done…This is the other side of Tesla’
I’m done with fossil fuels. They’re done. They’re just done. We’re starting to see divestment all over the world. We’re starting to see companies just regard them as, I mean big pension funds saying, listen, we’re not gonna own them anymore. It doesn’t matter how good they are. The world’s changed. There’s new managers, they…
Banks And Climate Crisis: Time For Stakeholder Governance And Reinvention — Dina Medland
A report funded by eight banks from around the world and just published by the Banking Environment Initiative (BEI) and the University of Cambridge Institute for Sustainability Leadership (CISL) looks at ways in which banks can serve to accelerate the financing of the low carbon economy, and in so doing develop a vision for a…
