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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.
The sale marks the third time in the last year that OMERS has divested a major fossil fuel asset. . As pension plan members, we’ve been asking OMERS to either demonstrate how its fossil fuel assets have credible decarbonization pathways or divest them. And OMERS might finally be listening. . To limit global heating to 1.5°C,
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.
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.
and I know insurers are going to be wary about that,” says Jason Thistlethwaite, a professor at the University of Waterloo’s School of Environment, Enterprise and Development. Divest now for tomorrow For insurance companies that are big institutional investors, that has also meant divesting their holdings in oil, gas and coal projects.
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.
Claims ESG investors “push a social and political agenda shrouded in secrecy” Investment and finance giants BlackRock, Credit Suisse and UBS are among a list of ten financial companies published by Texas as subject to potential divestment for boycotting energy companies.
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
Likewise, companies in all sectors have been rushing to divest of holdings in Russia , or halt operations there. The question is whether these developments the a priori good things which they are presented as being, or is the situation actually rather more nuanced?
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.
An investor’s decision to divest “doesn’t mean an end to all ESG-focused engagement with that company”, according to Eric Nietsch, Head of Sustainable Investing for Asia at Manulife Investment Management. . There’s ultimately a place for both engagement and divestment,” said Nietsch. “If Multi-year effort .
Divestment is different from ESG, which is different from impact investing. FUND NAME % market weight covered by Corporate Knights ratings* Weighted rating** Final score Holdings date INTERNATIONAL Invesco S&P International Developed Dividend Aristocrats ESG Index ETF (IIAE) 95.9% 2023-09-30 NEI International Equity RS Fund 92.2%
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.
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 week in ESG news: Microsoft launches new multi-framework ESG reporting solution; Goldman Sachs exits Climate Action 100+ as political pressure builds; World Bank issues bond with interest linked to reforestation-based carbon removals; GM signs its largest-yet renewable energy deal; Texas expands its divestment list of financial companies “boycotting” (..)
Her current scope of work covers all non-gaming contracts and projects, business unit legal, HR issues, development contracts related to Marina Bay Sands expansion and certain gaming regulatory matters. Over the years, she has held different roles on the legal team including interim chief compliance officer and interim general counsel.
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
The dataset is developed by multiplying a company’s most recent year-end revenues by its clean revenue estimate, primarily sourced from Corporate Knights Research. Cement carbon laggards Companies in the cement industry that were divested by NBIM. 137 City Developments Ltd Singapore Real Estate. Source: CK) 1. Source: CK) 1.
Oil firms helped develop climate programs at Oxford, Edinburgh and University College London. RELATED: How student campaigners finally convinced NYU to divest from fossil fuels How Big Oil's spin doctors are influencing influencers Are green conservatives the key to solving the climate crisis?
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.
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.
Texas Places BlackRock, Credit Suisse & UBS on Divestment List for “Boycotting” Fossil Fuel Companies in Anti-ESG Backlash. Renewable Energy Developer Arevia Power. RWE Acquires Polish PV Developer Alpha Solar. Firmenich Commits to Net Zero Emissions by 2039, Climate Targets Approved by SBTi. Government & Regulators.
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.
According to a statement from a JPMAM spokesperson, the firm’s decision follows the development of its internal engagement capabilities, allowing the company to act on its own. The spokesperson said: “J.P. degrees Celsius.
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.
In 2016, we created the Clean200 in response to investors saying, If we divest fossil fuels, there is nothing to invest in, says Andrew Behar, CEO of As You Sow and co-author of the Carbon Clean 200 report that accompanies the ranking. They include sustainably certified tech hardware, electric vehicles and electric rail equipment.
This increase is a major development for the evolving ESG market. Pretorius and Free agreed and claimed investors will expect even more from companies than mere divestment from non-renewable assets. SOURCE: Nasdaq, Inc. While ESG funds are at all-time highs, increasing by 50% this year to $2.7 trillion, even more investment is needed.
Others suggested taking inspiration from the green bond markets to develop European defence bond frameworks for funding projects of high strategic importance to European sovereignty. The EC also underlined the role in channelling capital to Europes defence sector of the Savings and Investment Union (SIU) the weeks other big announcement.
The guidelines would also require institutions to develop Capital Requirement Directive-based (CRD) transition plans addressing risks arising from the climate transition and financial risks stemming from ESG factors and regulatory objectives.
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.
Change is already underway within the fossil fuel industry, as developments in the Netherlands, United States and Australia indicate. Set a target The Science Based Targets initiative ( SBTi ) has developed guidelines on setting science-based targets (SBTs) for the financial sector that require the inclusion of financed emissions.
With the right financial data, the clean economy comes in clear – and the numbers show that it’s developing momentum. In 2016, we created the Clean200 in response to investors saying, ‘If we divest fossil fuels, there is nothing to invest in.’” You follow the money, of course. through those years.
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.
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