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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,
Sustainability disclosure is the new normal Around the world, policies and regulations requiring companies to disclose their emissions and sustainability metrics have advanced at varying rates and to different stages of development, from barely nascent to quite mature.
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.
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.
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.
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.
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 .
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 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” (..)
The Church of England has announced it will divest from Shell, finally acknowledging the failure of more than a decade of investor efforts to convince the oil and gas sector to align with global climate goals. The respected investor is now divesting from all fossil fuels by the end of 2023 and will no longer try to engage with oil and gas.
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.
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.
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?
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.
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.
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.
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.
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
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.
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
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