Corporate Governance: Page 14
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Scope 3 emissions reporting is a ‘when,’ not an ‘if’ for companies: Bayer, Zycus execs
ESG experts from the pharmaceutical company and procurement software provider made the case for reporting on scope 3 emissions early during a panel discussion.
By Suman Bhattacharyya • May 28, 2024 -
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Judge green lights ExxonMobil’s suit against Arjuna Capital, dismisses Follow This
Texas’ Northern District Court said it would not drop the oil giant’s lawsuit against its activist investors, but dismissed Netherlands-based Follow This as it fell outside its jurisdiction.
By Zoya Mirza • May 24, 2024 -
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JPMorgan, Morgan Stanley shareholders modestly support Indigenous rights, climate proposals
While voters did not approve shareholder resolutions at either meeting, the results displayed similar, if not greater, support as nearly identical proposals at other large U.S. banks.
By Lamar Johnson • May 24, 2024 -
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Shell shareholders approve diluted climate strategy at annual meeting
Shareholders also rejected a resolution from shareholder activist Follow This to align the oil major’s scope 3 goals with the Paris Agreement.
By Lamar Johnson • May 23, 2024 -
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State finance officials, fund trustees join CalPERS to oppose ExxonMobil slate
A group of 13 state officials and pension plan leaders have urged major asset managers to vote against the oil major’s board and CEO at its May 29 annual meeting.
By Zoya Mirza • May 23, 2024 -
(2021). [Photograph]. Retrieved from Office of the Texas Governor.
House Democrats probe Texas, Florida over financial impact of anti-ESG laws
Both conservative-led states have laws in place that ban consideration of ESG factors within state funds and policies, leading to divestments from firms that allegedly boycott fossil fuels.
By Zoya Mirza • May 22, 2024 -
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Delta’s 2023 emissions exceeded pre-pandemic levels as air travel bounced back: report
While the airline’s overall emissions topped its 2019 baseline, its scope 1 and 2 emissions remain below pre-pandemic levels.
By Lamar Johnson • May 22, 2024 -
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CalPERS to vote against ExxonMobil directors at shareholder meeting
The country’s largest pension fund said it would oppose appointment of all 12 of the oil giant’s board of directors, citing its lawsuit against Arjuna Capital and Follow This.
By Zoya Mirza • May 21, 2024 -
Courtesy of BCG
Q&AHow companies should approach compliance under multiple climate reporting regulations: BCG
Companies may need to reorganize as climate disclosure mandates take shape, says Tim Mohin, a partner and director at Boston Consulting Group.
By Suman Bhattacharyya • May 20, 2024 -
Max Whittaker via Getty Images
CalPERS to commit $25B to private market climate solutions
The allocation is part of the California pension fund’s strategy to double its climate investments to $100 billion by 2030, which it announced last year.
By Zoya Mirza • May 17, 2024 -
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Lego links employee compensation to decarbonization goals
Though the new performance metric is primarily linked to the company’s direct emissions, Lego said it aims to “expand” it over time to include scope 3 as well.
By Zoya Mirza • May 16, 2024 -
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BlackRock shareholders appoint Aramco CEO to board, despite pushback
A senior strategist for Sierra Club’s Fossil-Free Finance campaign said shareholders cast “concerning votes” on climate-related issues and “appear timid” to engage with BlackRock.
By Lamar Johnson • May 16, 2024 -
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Q&ARegulations could improve ESG in fashion, but Worldly exec says it’s not enough
James Schaffer said recent mandates that require companies to disclose financial and environmental risks are a bellwether of the industry’s future.
By Laurel Deppen • May 16, 2024 -
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Challenge to SEC’s enhanced proxy reporting rule dismissed by appeals court
The Fifth Circuit Court of Appeals said the lawsuit put forward by four Republican-led states lacked standing and failed to provide evidence of alleged increased compliance costs.
By Lamar Johnson • May 13, 2024 -
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Barclays pressed on climate commitments and Gaza at annual meeting
The bank was asked to pull back financing for its North American fracking operations during the meeting as it faced protests over its alleged ties to the war in the Middle East outside the venue.
By Zoya Mirza • May 10, 2024 -
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Oklahoma judge hits pause on state’s anti-ESG law
A district court judge issued a temporary injunction Tuesday, blocking enforcement of a state law which boycotted firms over their alleged stance on fossil fuels.
By Zoya Mirza • May 9, 2024 -
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Snickers owner Mars commits $47M to slash dairy emissions
The confectionery giant is testing seaweed feed supplements and plans to open three net-zero farms as it looks to halve its carbon footprint by 2030.
By Sarah Zimmerman • May 9, 2024 -
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OpinionThere are 3 fundamental problems with scope 2 emissions accounting. Here’s how to fix them.
Society cannot afford actions and expenditures to support claims of progress while not accomplishing real-world emission reductions.
By Neil Fisher, Roger Ballentine and Armond Cohen • May 8, 2024 -
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Microsoft pens landmark carbon removal contract with Stockholm Exergi
The carbon removal deal — which both companies said is the “largest to date” — will allow the tech giant to permanently remove 3.3 million metric tons of carbon dioxide.
By Zoya Mirza • May 7, 2024 -
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81% of companies not covered by CSRD still plan to comply: Workiva
Workiva’s global vice president of ESG said the EU’s Corporate Sustainability Reporting Directive is becoming the “gold standard,” with or without the SEC’s climate rule.
By Lamar Johnson • May 7, 2024 -
Andrew Burton / Staff via Getty Images
BlackRock shareholders urged to oppose Aramco CEO’s board re-appointment
The New York City Comptroller said Aramco and BlackRock’s prior business relationships compromise Amin Nasser’s ability to serve as an independent member of the board.
By Lamar Johnson • May 2, 2024 -
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CalSTRS reports issues in calculating emissions of $336B portfolio
The California pension fund said it would delay disclosing its 2023 carbon footprint until 2025, citing significant data and calculation issues.
By Zoya Mirza • April 30, 2024 -
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Citi achieves $441B of its $1 trillion sustainable finance 2030 goal: report
The bank has also met more than half of its goals to reduce its operational footprint by 2025.
By Lamar Johnson • April 30, 2024 -
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Reformation reports spike in direct emissions, misses 2023 carbon intensity target
The apparel company known for pioneering sustainable practices said it aims to slash its scope 1 and 2 emissions by 42% by 2030, compared to a 2021 baseline.
By Zoya Mirza • April 25, 2024 -
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BofA, Goldman clean energy ratio proposals fail, despite some shareholder support
The resolutions failed to pass despite over a quarter of voters supporting them before each of the banks' boards.
By Lamar Johnson • April 25, 2024
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