A shortage of suitable environmentally friendly assets for pension schemes to invest in could contribute to a “green asset bubble”, MPs have warned. The Commons’ work and pensions select committee said that pension schemes had the potential to help economies to cut emissions, but warned that there were only a limited number of suitable assets…
Tag: climate change
Huge investor coalition urges governments to accelerate climate action | Corporate Secretary
A huge investor coalition has called on national governments to accelerate policy changes that will support investment in climate change solutions. A group of 587 investment firms with a collective $46 trillion in assets under management yesterday issued a statement urging governments to take a range of actions, from strengthening emissions targets to mandating climate…
Lying, Not Changing: The Fossil Fuel Industry Pretends to Care
Chris Walker of The Daily Poster attended a fossil fuel industry conference. He noted that while a keynote panel was titled “Combating Climate Change Together,” the combat was directed more at science and real-life efforts to address the climate crisis. A major rebranding effort is currently under way as fossil fuel interests like the Colorado…
Agenda – Investors To Back Off Say-on-Climate Proposals
What Agenda calls backing off may just be a shift in response to the forthcoming SEC rulemaking on climate disclosure. Last year CIFF, along with several supporting partners including CDP, the nonprofit formerly known as the Carbon Disclosure Project, and ESG charity ShareAction, began a new, three-pronged initiative to push companies in the U.S. and…
Larry Fink: Moving from Ambition to Action on Climate Change
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…
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…
