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…
Tag: climate change
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…
Institutional investors call on government leaders to increase efforts on climate change – Pensions & Investments
A group of asset owners and managers representing more than $26 trillion in assets are calling on government leaders to step up their efforts to achieve the Paris Agreement’s goal of limiting the average global temperature increase to 2 degrees Celsius; and also to support investments in a low-carbon economy, including phasing out fossil-fuel subsidies…
Activist/Impact Investing: Zevin Asset Management
Zevin Asset Management issued a new report about its activist initiatives. An excerpt (emphasis added): When Congress failed to respond to the mass shooting in Parkland, Florida, the conversation shifted to whether financial companies would act to address risks. In March, Zevin Asset Management joined with other investors to denounce gun violence and define the…
Disclosure Is About Risks And Opportunities, Not Politics
Felicia Jackson writes in Forbes: Climate and environmental information reporting is becoming mainstream. The focus on risk disclosure means it doesn’t matter whether you believe in climate change or not – what matters is transparency about corporate risk.As Richard Samans, Chairman, CDSB and Managing Director, Head of Policy and Institutional Impact at the World Economic…
Climate risk: Running out of time | Magazine | IPE
• Climate change is an existential risk whose elimination must become a corporate objective • Scenario analysis can be a powerful tool but can distract investors from engagement • Corporates need plans that address climate risk and outline moves to a low-carbon economy Source: Climate risk: Running out of time | Magazine | IPE
Corporate Sustainability Reporting Hits ‘Super-Majority’ Status | Bloomberg Law
Eighty-five percent of the nation’s largest public companies reported on climate change, diversity, and other sustainability issues in 2017, according to a March 20 study from the Governance & Accountability Institute. Sustainability reporting by companies in the S&P 500 index hit a majority for the first time in 2012 and has climbed steadily since then,…
Federal court will hold first-ever hearing on climate change science | McClatchy Washington Bureau
An unprecedented courtroom proceeding will be the first to put climate science on trial on March 21, 2018. The judge has asked for a tutorial, with briefings from both sides in a case brought by California cities against fossil fuel interests accused of covering up their role in contributing to global warming. Exxon and other…
