Blackrock CEO Larry Fink calls on shareholders to make sure their portfolio companies take action on climate change in a speech after the G20 at the International Conference on Climate, hosted by the Italian Ministry of Economy and Finance and the Bank of Italy in Venice on Sunday, July 11. He emphasized the need to…
Tag: climate change
Joe Kennedy: The SEC must require companies to disclose their risk from climate change
Joseph P. Kennedy III writes in the Washington Post: [W]e are faced with a looming threat to market stability that was not foreseen by our forebears: the growing risk of climate change to our economy — and our very existence. That’s why the SEC must update its regulations and clearly require that companies disclose the…
Response to the SEC’s Request for Comments on Climate Change/ESG Disclosure
The SEC has asked for comments on climate change and ESG disclosures. The comment from VEA Vice Chair Nell Minow is attached in full below. Some excerpts: As a general point, I note that some of the comments are not clear about who is funding them, what is paid advocacy, and how suggested changes would…
Exxon must face Massachusetts lawsuit alleging climate change deceit | Reuters
A Massachusetts state judge has rejected Exxon Mobil Corp’s (XOM.N) bid to dismiss a lawsuit by state Attorney General Maura Healey accusing the oil company of misleading consumers and investors about its role in climate change. In a decision released on Wednesday, Superior Court Justice Karen Green in Boston said Exxon failed to show that…
UN’s $85 billion pension fund promises to slash 40% of investment emissions by 2025
The UN’s $85 billion staff pension fund (UNJSPF) has committed to Net Zero by 2050, and will cut its investment related GHG emissions by 29% by the end of this year and 40% by 2025, compared with 2019. UN’s $85bn pension fund promises to slash 40% of investment emissions by 2025
Companies Spend Big on ESG Investments, Hoping for Long-Term Payoff – WSJ
Companies are racking up hefty bills as they invest in new facilities and products to reduce emissions or meet other targets, hoping for a payoff down the road. Businesses increasingly are coming under pressure from investors, lawmakers and regulators who demand more details on their spending plans and the progress they are making to achieve…
BlackRock’s Governance Mess – Public Accountability Initiative
Murry Gerber has served on BlackRock’s board of directors since 2000 – over two decades – and as its Lead Independent Director since 2017. Gerber has extensive ties to the fossil fuel industry. From 1998 to 2011, he helped oversee the Appalachian fracking boom through multiple executive positions with EQT Corporation, earning tens of millions…
Agenda – BlackRock Backs Climate Resolutions While Critics Question Impact
“Supporting shareholder proposals now plays an increasingly important role in our stewardship efforts, particularly around sustainability. We will support a shareholder proposal when we agree with its intent to address a material business risk and believe that management can do better in managing and disclosing that risk. We may also support a proposal if management…
Apple Calls for Mandatory Climate Reporting – ESG Today
Tech giant Apple has come out in support of mandatory climate disclosures for companies, issuing a call on the U.S. Securities and Exchange Commission (SEC) to require consistent, audited emissions reporting. Apple Global Head of Environmental and Energy Policy Arvin Ganesan issued a statement today, highlighting the centrality of transparency by companies in the fights…
Companies Agree to Support Paris-Aligned Climate Policy | ICCR
Building on the groundbreaking majority vote in support of a proposal on climate lobbying at Chevron’s 2020 annual meeting, investor members of the Interfaith Center on Corporate Responsibility are announcing agreements reached with five companies on similar proposals requesting a report on if and how the companies’ lobbying activities (direct and through trade associations) align…
