New York State Pension Fund Makes $800 Million Bet on ESG Credit – Bloomberg

The New York State Common Retirement Fund put $800 million in sustainable fixed-income strategies this year, including sustainable private credit and green bonds, a rare big bet on debt in the equity-dominated market for responsible investing. The $210.5 billion public pension fund said it invested $300 million in Avenue Capital’s new Sustainable Solutions Fund, which…

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…

How Calvert’s research produced Barron’s 100 Most Sustainable Companies list

For the third consecutive year, Barron’s asked Calvert to identify companies showing leadership in addressing the environmental, social, and governance (ESG) risks relevant to their operations. The resulting list of “The 100 Most Sustainable Companies” is available on the Barron’s website, but here’s some information about how we created it. To begin, Calvert analyzed the…

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…

Bebchuck Comment on Proxy Advisor Proposal

From Harvard professor Lucian Bebchuck’s comment to the SEC on the proxy advisor proposal: As explained below, the Economic Analysis cannot provide a basis for SEC rulemaking in this area. The Economic Analysis fails in its analysis of both the benefits and the costs of the proposed rule and overlooks significant effects and issues. Below…

Comments on the SEC’s Proposed Restrictions on Shareholder Proposals

Excerpts of Investor Comments Opposing SEC Proposals to Restrict Shareholder Rights, compiled by the Investor Rights Forum. In November 2019, the Securities and Exchange Commission adopted proposed changes to Rule 14a-8 that would sharply restrict the rights of investors to file shareholder proposals and hold corporate managers accountable on important environmental, social, and governance concerns….

Citizens United 10 Years Later: Ciara Torres-Spelliscy

Professor Ciara Torres-Spelliscy testified about what we have learned about the impact of the Citizens United Decision after ten years. The full testimony, including disturbing information about the vicious cycle caused by more dark money raising the cost of campaigns, thus needing more dark money is below. An excerpt: Nearly a decade ago, I told…