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For the leaders of the divestment movement, which encourages institutional investors to sell off their shares in fossil fuel companies, winning isn’t everything. But after a decade of determined lobbying, the divest side is suddenly doing a lot of winning. That tally, they noted, is bigger than the combined GDP of the U.S.
Pressure on creatives: PR, advertising firms targeted by fossil fuel divestment movement. Airlines have faced "flygskam" — or flight shame — which has seen some travelers shun air travel, heightening pressure for the sector to demonstrate that it can develop a flight path to net-zero emissions. Michael Holder. Mon, 11/30/2020 - 01:00.
We also began a fossil-fuel divestment initiative. In 2021, after developing a new program strategy and articulating our organizational Purpose focused on the rights of Indigenous Peoples, we delved deeper into a conversation about the impact of our investments.
Divestment from fossil fuels is accelerating around the world. Besides dozens of universities (including Harvard and the University of Toronto), the divestment list now includes France’s Banque Postale, the State of New York, and Europe’s largest pension, ABP. These developments are critical.
Prices to frack a new well vary widely, depending on whether you’re drilling in West Texas or horizontally to frack under housing developments, varying from $40 to $90 a barrel. The costs multiply because fracked wells typically last less than a year. Surely the world runs on oil.
We had developed a strong methodology of research and engagement with companies, regulators and governments for work on a range of issues. For example, we developed a significant investor presence on issues of forest land management. The “clean hands” approach of divestment best expressed the moral outrage of activists over apartheid.
The data set is developed through assessment of a companys revenue that aligns with the definitions laid out in the Corporate Knights Sustainable Economy Taxonomy, primarily sourced from Corporate Knights research. The ranking was first calculated on July 1, 2016, and publicly released on August 15, 2016, by Corporate Knights and As You Sow.
The data set is developed through assessment of a companys revenue that aligns with the definitions laid out in the Corporate Knights Sustainable Economy Taxonomy, primarily sourced from Corporate Knights research. The ranking was first calculated on July 1, 2016, and publicly released on August 15, 2016, by Corporate Knights and As You Sow.
The researchers develop and test multiple measures of biodiversity risk and related business exposure, including through a survey of financial and policy professionals, news coverage ( New York Times coverage of biodiversity developments), 10-K analysis, and others. So quantifying biodiversity risk is paramount.
UAE-based clean energy-focused developer Masdar announced plans to acquire renewable power company Saeta Yield from Brookfield Renewable together with its institutional partners, for an implied enterprise value of US$1.4 gigawatt (GW) development pipeline.
courts to side so clearly with tribal nations and actually expel developers trespassing on their land. But observers also see the ruling as part of a broader trend: Gone are the days when developers could ignore Indigenous rights with impunity. If you’re going to develop energy in the U.S. That includes more than $4.3
Timing and influencing the market are vital considerations for asset owners when divesting ESG assets. Since the success of the South African apartheid divestment campaign in the 1980s, investors must contend with similar pressure on other ESG issues, such as the growth of campaigns encouraging them to exit fossil fuels or tobacco.
OMERS developed an internal Climate Metrics Manual in 2023 and is now reporting greenhouse gas emissions for 95% of its in-scope portfolio. IMCO, HOOPP and OMERS, like most major Canadian pension funds, publicly state that they want to achieve real-world emission reductions and not just divest their way to their emission-reduction targets.
Dogs and humans don’t have separate food systems,” explains Joshua Errett, the company’s vice-president of product development. So he developed a freeze-dried meat-free dog treat called Noochies! Divesting from industrial animal farming in the pet food sector would deliver significant environmental benefits.
More than half of divestments by Norges Bank Investment Management (NBIM) last year were the result of unacceptable social and governance-related risks. A clothing manufacturer in a developed market will be subject to more stringent requirements for environmental performance and labour rights than one in an emerging market,” it noted.
To divest or not to divest? Another is establishing the liquidity levels of those investments which enable rapid divestment. Many began the divestment process because of evidence of systematic human rights abuses and corruption led from the very top. However, allocators’ work does not end there. billion (£2.3 billion (£2.3
That year, Axa became the first major insurer to divest from coal. For the last seven years, IOF has ranked the top 10 insurance firms supporting fossil fuel development. “If By 2015, Henri de Castries, then-CEO of French insurance firm Axa, said it wouldn’t be possible to insure a world that is 4°C warmer.
This divestment represents a very attractive purchase price and allows us to focus on our core agricultural business and the successful implementation of our Crop Science Division growth strategy,” said Rodrigo Santos, Member of the Board of Management of Bayer AG and President of the Crop Science Division. billion U.S. dollars (2.4
Alternative investment firm Stonepeak announced today an agreement with global energy developer Ørsted to acquire and equity ownership stake valued at approximately $300 million in a 957 MW portfolio of U.S. onshore wind farms. The portfolio includes four onshore wind farms across Illinois, Texas and Kansas.
Simple choices that turned out to be “revolutionary” in the 1970s helped spread environmental and social justice awareness and promoted an idea of beauty that was less about imposed standards and more about taking care of oneself to help people develop self-esteem and positive energy.
The company has used this expertise to develop direct air carbon-capture technology, which removes carbon dioxide from the atmosphere and produces oil that is either net zero or net negative carbon. In 2009, developed countries pledged to mobilize $100 billion annually by 2020 to help developing nations adapt to climate change.
According to Reuters, environmental groups are calling for “robust rules in the textile-specific standards currently in development under the EU’s Corporate Sustainability Reporting Directive (CSRD).” This is just the introduction of G&A's Sustainability Highlights newsletter this week.
TotalEnergies has set a climate goal to achieve net zero emissions by 2050, and the company said that its focus is first to avoid emissions, and then to reduce them asset by asset, implementing the best available technologies, and to develop industrial projects for carbon storage to address residual emissions. Gulf Coast.
The proposal follows decisions by the pension funds to divest from fossil fuel reserve owners in their public equities portfolio in 2018, and to exclude upstream fossil fuel investments, including exploration and extraction, in their private markets investments in 2023.
Analyze opportunities: Take action and develop a low carbon transition plan and create a resilience strategy and investment plan for facilities. This step will help you identify the riskiest physical locations and products to divest from and access public incentives.
A follow-up study in the US in 2023 found similar developments, albeit slight less pronounced than in the EMEA region. On data quality, we see a great opportunity for sellers and sell-side advisors to drive value from divestments by commissioning higher-quality ESG vendor documentation. ESG in deal is rapidly maturing.
From companies looking to select cleaner manufacturing suppliers, to investors seeking to divest from polluting industries, to consumers making choices about which businesses to patronize, one thing is clear: a reliable way to measure where emissions are coming from is necessary," they wrote. And let’s go to the semiconductor industry.
The deal marks the latest in a series of large-scale clean energy transactions for Brookfield, including the recent acquisitions of a majority stake in France-based renewable energy developer Neoen for $6.6 billion , and Duke Energy’s commercial renewables business for $2.8
As a member of the Executive Committee, Gwenaelle will preside over developing and deploying strategic, sustainability and quality & customer satisfaction initiatives, while steering all mergers, acquisitions and divestment activities globally. as a consultant.
Oil and gas companies were not considered, in an effort in line with the recent COP29 of the United Nations Climate Secretariat (UNFCCC) to encourage fast divestment from fossil fuels and resource-heavy industries. The CSO Awards North America are supported by premium partners IntegrityNext and Celonis.
Energy Security The UK and Germany have led the way on divesting Europe from Russian hydrocarbons and in developing alternative sources of supply. Building on our energy and climate.
Billion to Build Gigafactories Across Europe Dow Issues Inaugural $1.25 Billion Green Bonds to Fund New Net Zero Chemical Plant Private Equity & Venture Capital Industrial Decarbonization Startup Celadyne Raises $4.5 Billion to Build Gigafactories Across Europe Dow Issues Inaugural $1.25
Asset managers should divest from fossil fuel companies that are proving resistant to influence and concentrate their finite engagement resources on those which can plausibly be influenced,” the paper noted.
Three years earlier, Rathbones had signed up to the Principles for Responsible Investment (PRI), which he had helped develop. Divestment option Despite the headway being made with engagement, many large asset owners still opt for other solutions. Divestment has been a recurring theme across Crossman’s two-decade career.
DESCRIPTION: MONHEIM, Germany and BOSTON, November 7, 2022 /3BL Media/ - Bayer announced that the company has closed the previously announced transaction with Ginkgo Bioworks to begin a multi-year strategic partnership to accelerate research and development of biological products for agriculture. SOURCE: Bayer. About Bayer.
The divested business is set to operate as an independent company called Envu. Bayer is committed to drive sustainable development and generate a positive impact with its businesses At the same time, the Group aims to increase its earning power and create value through innovation and growth.
Martin Neubert, Deputy Group CEO and Chief Commercial Officer at Ørsted, said: “Offshore wind once again proves itself as a homegrown source of clean energy at large scale that will help the UK achieve its climate targets and increase energy independence while creating local jobs and industrial development.”.
The report also indicated that sustainability factors are a key focus of AXA IM’s stewardship activity, with more than three quarters (76%) of engagements in 2022 linked to UN Sustainable Development Goals (SDGs). If the response or outcome is unsatisfactory, we have robust frameworks in place and are not afraid to take decisive action.”
Head of Sustainability at CDPQ Bertrand Millot highlights the pension fund’s focus on decarbonising the real economy, as well as comprehensively divesting from the oil industry. In addition to divesting from oil, CDPQ plans to deepen its practice in the biodiversity space and expand the scope of its commitments in nature-positive themes.
Start of the first production line is expected mid-year 2024 followed by up to two more production lines to serve the growing market and continued development of MAGMA. Forward-looking statements are not a guarantee of future performance and actual results or developments may differ materially from expectations. i.com. ###.
This represents a significant number of funds that may need to consider either divesting from the stocks or rebranding. Our research shows that more than 1,600 funds are exposed to at least one stock potentially in breach of activity-based exclusion rules.
These are defined as financing or enabling: The development and scaling of climate solutions; Assets or companies already aligned to a 1.5 In 2022, GFANZ identified four strategies necessary for financing a whole economy transition to net zero, which collectively comprise “Transition Finance.”
From its net-zero by 2030 ambition and the development of science-based targets to its energy efficiency programs to transportation and waste minimization goals, Powering Progress embodies PSEG’s aspirations for today and ensures it will be here to support communities into the future.
The demand from them for sustainability advice has never been higher – and we’ve developed our talent base and capabilities accordingly. Gwenaelle leads the development of Corporate Strategy, Mergers & Acquisitions and Divestment activities, Sustainability, and Customer Satisfaction & Quality. .
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