Corporate Governance: Page 16


  • Committee chairman Rep. James Comer questions witnesses during a House Oversight Committee hearing.
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    Drew Angerer via Getty Images
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    House Oversight Committee probes IRS over ESG policies

    Committee Chair James Comer asked IRS Commissioner Daniel Werfel to explain how the agency ensures state retirement plans invest for the “exclusive benefit” of enrollees.

    By June 11, 2024
  • Street signs for the intersection of Wall St. and Broad St., with the stripes of an American flag in the background.
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    Michael Santiago/Getty Images via Getty Images
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    SEC asks organizations to complete diversity self-assessment

    The agency said it will use the voluntary disclosures from its regulated firms to identify any trends and progress on diversity-related activities.

    By June 10, 2024
  • SEC no-action requests on 2024 shareholder proxy vote proposals
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    Chip Somodevilla via Getty Images
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    SEC views more shareholder proposals as micromanagement efforts

    After a 2021 change in no-action reviews caused a backlash among institutional investors, Securities and Exchange Commission staff appear to side more with companies against activist shareholders. 

    By Robert Freedman • June 10, 2024
  • The interior of the UN Trusteeship at the UN headquarters.
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    Zoya Mirza/ESG Dive
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    The fashion industry’s ‘urgent need’ for sustainable practices

    It is “incumbent” on the industry to “bring new solutions forward,” said experts and stakeholders at the United Nations Fashion and Lifestyle Network annual meeting.

    By June 6, 2024
  • A 'Citi' sign is displayed outside Citigroup Center near Citibank headquarters in Manhattan on December 5, 2012 in New York City.
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    Mario Tama via Getty Images
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    Citi boosts paid parental leave to match industry peers

    The bank is giving birth mothers an additional eight weeks of recovery time, bringing total leave to 24 weeks, in line with policies by Morgan Stanley and Barclays.

    By Dan Ennis • June 5, 2024
  • A group of young protesters marching fill the frame with signs that read "Planet Over Profit" and "Climate Justice" with a sunflower sprouting bottom to top as the "i" in climate and "t" in justice.
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    Spencer Platt/Getty Images via Getty Images
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    Sierra Club, NRDC drop legal challenges to SEC climate rule

    The two environmental groups have decided to focus resources elsewhere to improve climate-related financial disclosures.

    By June 5, 2024
  • View of trees from corporate building
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    Fahroni via Getty Images
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    Most M&A buyers would pay 3% extra for a company with a good ESG profile

    ESG is playing a bigger role in dealmaking than ever before, Deloitte said.

    By Jim Tyson • June 4, 2024
  • CFOs should focus on these key changes to quickly adapt and meet new sustainability and ESG-related regulations this year.
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    Getty Images via Getty Images
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    IFRS, GRI seek full interoperability as global jurisdictions align with ISSB

    The organization behind the International Sustainability Standards Board also said jurisdictions accounting for 55% of global GDP are aligning with its frameworks.

    By June 3, 2024
  • Bank of America's logo on a building façade
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    Mario Tama / Staff via Getty Images
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    Bank of America tweaks its restriction on firearms, energy lending

    New language indicates lending decisions go to senior risk officials for case-by-case evaluation, rather than being a non-negotiable “no.”

    By Dan Ennis • June 3, 2024
  • The ExxonMobil logo displayed at its campus in Houston, Texas.
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    Brandon Bell via Getty Images
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    ExxonMobil’s ongoing war on ESG

    The oil major is forging ahead with legal action against shareholders who pushed for climate action, despite resistance from state funds and finance officials who have rallied against its suit.

    By , Updated June 18, 2024
  • A sign is posted in front of a Google office on April 26, 2022 in San Francisco, California. Google parent company Alphabet will report first quarter earnings today after the closing bell.
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    Justin Sullivan via Getty Images
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    Google, Meta, Microsoft, Salesforce launch coalition to contract carbon removal credits

    The Symbiosis Coalition aims to purchase up to 20 million tons of nature-based carbon removal credits for the tech companies by 2030.

    By May 29, 2024
  • ExxonMobil CEO Darren Woods sits with hands folded
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    Apu Gomes via Getty Images
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    ExxonMobil CEO, board slate approved despite public opposition

    Darren Woods and the oil major’s board of directors were re-elected at Wednesday’s annual board meeting, despite several shareholders protesting Exxon’s suit against its investors.

    By May 29, 2024
  • American Airlines jet taking off from an airport runway.
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    Joe Raedle / Staff via Getty Images
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    American Airlines pilot’s anti-ESG lawsuit certified as class action

    The size of the certified class is expected to exceed 100,000, according to court documents, as the airline is accused of violating its ERISA duties.

    By May 28, 2024
  • The logo of German pharmaceuticals and chemicals giant Bayer stands over Bayer corporate offices on September 14, 2016 in Berlin, Germany.
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    Sean Gallup via Getty Images
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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
  • Exxon
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    Brandon Bell via Getty Images
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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 May 24, 2024
  • Photo looking up at high rises and Wall Street sign.
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    franckreporter via Getty Images
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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 May 24, 2024
  • A close up of Shell's logo.
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    Scott Barbour via Getty Images
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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 May 23, 2024
  • View of a gas price board
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    Win McNamee via Getty Images
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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 May 23, 2024
  • Governor of Texas holds a meeting with the governor of Floroida.
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    (2021). [Photograph]. Retrieved from Office of the Texas Governor.
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    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 May 22, 2024
  • Delta Air Lines passenger jet in mid flight.
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    Permission granted by Kyndryl
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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 May 22, 2024
  • CalPERS logo outside its building in Sacramento.
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    Max Whittaker via Getty Images
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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 May 21, 2024
  • A picture of the ceiling at Boston Consulting Group's office, displaying its logo.
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    Courtesy of BCG
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    Q&A

    How 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
  • The California Public Employees' Retirement System building seen during daytime.
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    Max Whittaker via Getty Images
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    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 May 17, 2024
  • The Lego Brand logo is seen at the store.
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    Leon Neal via Getty Images
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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 May 16, 2024
  • A man walks into a BlackRock office building.
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    Andrew Burton via Getty Images
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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 May 16, 2024