2018 Global Investor Statement on Climate Change

415 investors representing over USD $32 trillion in assets have signed a statement calling for portfolio companies to “implement the actions that are needed to achieve the goals of the [Paris Climate] Agreement, with the utmost urgency.” They call on global leaders to: • Achieve the Paris Agreement’s goals ■ Update and strengthen nationally-determined contributions…

A.G. Underwood Files Lawsuit Against Exxonmobil For Defrauding Investors Regarding Financial Risk The Company Faces From Climate Change Regulations  | New York State Attorney General

Attorney General Barbara D. Underwood today announced a lawsuit against Exxon Mobil Corporation (“Exxon”), alleging that the company misled investors regarding the risk that climate change regulations posed to its business. As alleged in the complaint, Exxon for years assured investors that it was accounting for the likelihood of increasingly stringent regulation of greenhouse gas…

PWC on Corporate Boards: Cyber Threats, #Metoo, Diversity, and What Shareholders Want

PWC on Corporate Boards: Cyber Threats, #Metoo, Diversity, and What Shareholders Want PWC’s annual director survey is one of our most trusted resources on corporate governance from the perspective of the boardroom, and this year’s edition has some significant findings on issues like diversity, CEO pay, climate change, cybersecurity, and the gap between what board members…

Clean up climate change? It’s just good for business. – The Washington Post

If the world’s largest companies live up to the promises they’ve made to slow climate change, together they could reduce emissions by an amount equal to those of Germany. The corporate pledges gained new attention this week after an ominous report was issued by the Intergovernmental Panel on Climate Change, which said that government policies…

BlackRock joins with Wespath to widen its low-carbon strategy | Financial Times

BlackRock has teamed up with a US client to explore fresh ways to invest in the low-carbon economy as fund management groups hunt for opportunities that arise from the shift to sustainable energy use.<P><P>The world’s largest asset manager with $6.3tn of assets, and Wespath Benefits and Investments, which manages $23bn on behalf of the United…

Walden Asset Management and CalSTRs Ask NAM Members Why They Support Main Street Investors Coalition

Walden Asset Management released this statement today: Investors led by Walden Asset Management and the California State Teachers’ Retirement System (CalSTRS) called on 45 companies sitting on the Executive Committee and Board of the National Association of Manufacturers (NAM) to end the trade association’s attacks on shareholders. The investors’ letter asks the companies to distance…

Exxon Must Face Class-Action Suit Over Climate-Change Accounting – Bloomberg

Bloomberg reports: Exxon Mobil Corp. must face a lawsuit by investors who blamed a drop in the company’s shares on the disclosure that regulators were scrutinizing its reserve accounting related to climate change. U.S. District Judge Ed Kinkeade on Tuesday denied Exxon’s bid to dismiss the suit. Kinkeade wrote that the Greater Pennsylvania Carpenters Pension…

‘Main Street Investor’ Coalition Aims to Undermine Shareholder Rights | Ceres

CERES CEO and President Mindy Lubber responds to the corporate-funded, lobbyist led Main Street Investors Coalition: Climate change, water scarcity and pollution, and other sustainability threats can pose significant material financial risks to many companies, particularly in industries like oil and gas, electric power, insurance, food and beverage, transportation and agriculture. Investors, as well as…

Hermes is turning up the heat on climate change with carbon tool

Hermes Investment Management, the £33.6 billion manager, has been investing in the development of a number of Environment, Social and Governance (ESG) tools for its fund managers and engagers to use to make enhanced investment decisions and to better inform engagement activities with companies on ESG matters.Hermes will be launching a carbon tool that allows…