A coalition of investors — Walden Asset Management, Presbyterian Church USA, and First Affirmative Financial Network — led by shareholder advocate As You Sow recently filed climate-focused resolutions with a large segment of the U.S. banking industry, including JPMorgan Chase, Wells Fargo, Bank of America, Goldman Sachs, and Morgan Stanley. Investor concern is growing regarding…
Tag: climate change
UK Labour Proposal: Climate change: Firms failing to tackle crisis will be delisted from stock exchange
Companies that fail to act on the climate change they cause will be axed from the stock exchange, under radical Labour plans. John McDonnell, the shadow chancellor, pledged his government would ensure firms are “pulling their weight” to tackle the “existential threat” to the planet. And he warned: “For those companies not taking adequate steps…
Climate Change Will Cost Us Even More Than We Think
A set of assumptions and practices in economics has led economists both to underestimate the economic impact of many climate risks and to miss some of them entirely. That is a problem because, as the report notes, these “missing risks” could have “drastic and potentially catastrophic impacts on citizens, communities and companies.” via Opinion |…
Activists thought BlackRock, Vanguard were climate allies. Not now
In 2017, the two biggest U.S.-based fund managers, BlackRock and Vanguard — which control a combined $12 trillion in assets — both voted to require Exxon Mobil to produce a report on climate change. It was a seen as watershed moment showing what can occur when the biggest index funds punch their weight at the…
Breakingviews – Fiddling with bank capital can help the planet – Reuters
Climate change could give fiddling with bank capital a good name. Regulators have spent much of the last decade trying to stop lenders massaging their solvency to boost returns. Yet that same sleight of hand could make a big difference in the fight against global warming. The main job of prudential regulators is to stop…
Findings of the ISS Global Survey 2019
The findings of the annual ISS survey on investor priorities: Board Gender Diversity: Majorities of both investors (61 percent) and non-investors (55 percent) agreed with the view that board gender diversity is an essential attribute of effective board governance regardless of the company or its market. Approximately 27 percent of investors tended to favor a market-by-market…
Nordea co-founder of ground-breaking UNEP FI and banking sector sustainability initiative | nordea.com
Nordea, as the only Nordic bank, is one of 30 founding banks of the Principles for Responsible Banking developed together with United Nations Environment Programme Finance Initiative (UNEP FI). Today, during a formal ceremony at the UN General Assembly in New York, 130 banks signed the Principles. By signing these, banks worldwide, representing over USD…
Converging on climate lobbying: aligning corporate practice with investor expectations | Reports/Guides | PRI
PRI’s new guidance for engagement on corporate climate denial and lobbying: nvestors are increasingly scrutinising corporate engagement on climate policy as it plays a critical role in helping governments create practical climate policy solutions. However, corporate engagement on climate policy is a double-edged sword. Negative and resistant corporate interest, often represented by third-party organisations, can…
Majority Action’s Asset Manager Report 2019 — BlackRock and Vanguard Flunk Again
Majority Action’s latest report on asset manager votes on climate change show little progress: BlackRock and Vanguard voted for 99% of U.S. large capitalization energy and utility company-proposed directors and 100% of their say on pay proposals. BlackRock and Vanguard not only voted with management more often than most of their asset manager peers; they…
Investors turn up the heat on governments over climate change – CNN
Investors managing assets worth $35 trillion are sending a message to governments and companies: Do more to fight climate change. A group of 515 investors on Wednesday urged policymakers to act with the “utmost urgency” to comply with the goals of the 2015 Paris climate agreement, which seeks to limit global warming. “Much more needs…
