HSBC Shareholders Ask Bank to Cut Fossil-Fuel Lending Exposure – Bloomberg

A group of HSBC Holdings Plc shareholders have filed a resolution urging the bank to cut its support to the fossil-fuel industry. Amundi SA, Europe’s largest listed asset manager, and Man Group Plc, the world’s biggest publicly traded hedge fund firm, were among 15 institutional investors overseeing a combined $2.4 trillion that are backing the…

Walmart Stock Could Benefit as ESG Investors Add it to Their Funds | Barron’s

Even a business publication like Barrron’s should know better than to let Walmart claim victory on ESG without checking with employees and outside sources to see how meaningful their changes are. Lots of companies have gotten serious about environmental, social, and governance issues in recent years. But few are more surprising than Walmart. That’s not…

Accountants work to counter climate change | Accounting Today

Accounting groups are reacting to the latest reports about the accelerated pace of climate change as global warming reaches record levels. Against the backdrop of the United Nations’ 25th annual Conference of the Parties, or COP25, in Madrid, the International Federation of Accountants published a Point of View on climate action to highlight the role…

Lagarde’s ECB won’t let investors delay addressing climate risk

Lagarde: Giving the ECB a bigger role in fighting global warming. Not Rated Text Size: A A A Abu Samra border open, quiet World leaders condemn ‘assault on democracy’ Bloomberg/Frankfurt The European Central Bank has a warning for investors: Deal with the financial risks from climate change soon or we’ll do it for you. Under…

Fed Joins Climate Network, to Applause From the Left – The New York Times

The Federal Reserve is joining a network of central banks and other financial regulators focused on conducting research and shaping policies to help prepare the financial system for the effects of climate change. The Fed’s board in Washington voted unanimously to become a member of the Network of Central Banks and Supervisors for Greening the…

Net-zero initiative signs up 30 managers with $9 trillion in assets

Money managers with $9 trillion in assets under management have launched a net-zero initiative, committing to support the goal of net-zero greenhouse gas emissions by 2050. The Net Zero Asset Managers initiative, launched Friday, has 30 initial signatories. The group has committed to support the goal of the Paris Agreement, to limit global temperature rises…

Fossil Fuel Giants Claim To Support Climate Science, Yet Still Fund Denial | HuffPost

More on the disgraceful disinformation campaign conducted by FTI Consulting on behalf of its fossil fuel clients, which included the creation of fake front groups, fake “information” resources, even fake social medial profiles. [D]ocuments and recordings reviewed by HuffPost show that the Independent Petroleum Association of America has spent almost $2 million a year for…

Proposal With Caveat: A Purpose-Based Corporation

Shareholder value maximization has been severely criticized in recent years, but it is not clear what if anything is to take its place. In this paper we review three models of corporate value creation – shareholder value, stakeholder value and company purpose achievement – and their implications for corporate governance. We first discuss shareholder value and how…