EPA $20B funding freeze leaves ‘green bank’ nonprofits unable to pay bills

The Climate United Fund, which received a $6.97 billion Greenhouse Gas Reduction Fund grant, will soon become unable to make payroll or disburse funding to its contracted borrowers, said a spokesperson.

By Diana DiGangi • March 4, 2025

BofA, Wells, Truist de-emphasize DEI in annual filings

In its paperwork, BofA now uses “opportunity” in place of diversity. Wells, meanwhile, scrapped its diverse-slate interview policy, along with mentions of its pay equity review.

By Caitlin Mullen • March 4, 2025

BlackRock ends diversity goals, merges DEI team into ‘Talent and Culture’

The nation’s largest asset manager said it will not renew “aspirational workforce representation goals” which expired in 2024, in response to executive orders targeting DEI programs.

By Lamar Johnson • March 3, 2025

Wells Fargo scraps net-zero target as banks recalibrate sustainability strategy

The bank is dropping its goal of achieving net-zero financed emissions across its portfolio by 2050, in addition to 2030 targets it set for sector-specific financed emissions.

By Zoya Mirza • March 3, 2025

92% of CFOs plan to boost sustainability spending

A majority of companies expect to allocate more than 2% of revenue to sustainability initiatives this year.

By David McCann • March 3, 2025

BP cuts renewable spending, doubles down on fossil fuels in strategy reset

The U.K.-based oil major said its investments in the clean energy transition business will now be “significantly lower” and range between $1.5 billion to $2 billion per year.  

By Zoya Mirza • Feb. 28, 2025

One of UK’s largest pension funds picks Amundi, Invesco to manage bulk of its portfolio

The People’s Pension credited the firms’ “commitment to responsible investment” for the move. State Street previously managed the fund’s entire portfolio.

By Lamar Johnson • Feb. 28, 2025

Anti-ESG groups intensify activism early in 2025 proxy season

Opposition to corporate sustainability efforts has grown in recent years, culminating in an anti-ESG order by President Donald Trump last month.

By Jim Tyson • Feb. 28, 2025

EU adopts omnibus proposal, trims sustainability reporting requirements

The simplified package would remove 80% of companies from the scope of the Corporate Sustainability Reporting Directive and delay reporting timelines.

By Lamar Johnson • Feb. 27, 2025

U.S. Bank scrubs DEI, fair pay references

Mentions of the lender’s diverse-slate hiring policy, pay comparisons by gender and race, and flexible work were absent from its most recent annual filing.

By Dan Ennis • Feb. 27, 2025

Federal judge blocks parts of Trump’s private-sector DEI order

The White House’s enforcement threat against private-sector DEI programs is “textbook viewpoint-based discrimination,” according to the Feb. 21 decision.

By Ryan Golden • Feb. 27, 2025

Apple shareholders emphatically reject anti-DEI proposal

More than 97% of voting shareholders dismissed the proposal by a conservative think tank asking Apple to “cease DEI efforts” at its annual meeting.

By Lamar Johnson • Feb. 26, 2025

Ikea revises zero emission delivery goal, lowers ambition

The global furniture retailer said it was revising a goal to use zero emission vehicles for home deliveries by 2025 and now aiming to reach 90% of this target by 2028.

By Zoya Mirza • Feb. 26, 2025

Morgan Stanley, Capital One downplay DEI efforts

A Morgan Stanley filing highlights its proportion of women and ethnically diverse employees but contains a statement on “meritocracy.” Meanwhile, Capital One isn't touting pay equity like it used to.

By Dan Ennis • Feb. 26, 2025

SEC updates guidance on ESG engagement disclosures, prompts temporary confusion

BlackRock and Vanguard, the nation’s largest asset managers, temporarily paused shareholder engagement meetings after a recent update to agency guidance.

By Lamar Johnson • Feb. 25, 2025

Asset owners demand greater transparency on ESG amid increased scrutiny: Cerulli

Pressure from regulators and stakeholders is driving a demand for accountability, but reporting standardization hurdles persist, analysts from the research firm said.

By Suman Bhattacharyya • Feb. 25, 2025

Citi tosses diversity goals, DEI label

The lender is scrapping “aspirational representation goals” and diverse job candidate requirements, as more companies abandon diversity, equity and inclusion efforts.

By Caitlin Mullen • Feb. 25, 2025

Recent DEI shifts represent an ‘evolution’ of the practice: Bridge

Companies should understand the opportunities DEI programs present before assessing risk mitigation needs amid increased scrutiny, counsels DEI trade group CEO Sheryl Daija.

By Lamar Johnson • Feb. 24, 2025

Starbucks’ DEI policies labeled ‘discriminatory’ in Missouri AG’s lawsuit

A spokesperson for the coffee chain denied the claim and said the company’s hiring and benefits programs are “open to everyone and lawful.”

By Ryan Golden • Feb. 24, 2025

Trump’s tariffs could raise onshore wind turbine costs by 7%, slow development: WoodMac

Wind generation deployments could be reduced by nearly a third by the end of this decade due to the tariffs, according to a Wood Mackenzie analyst.

By Emma Penrod • Feb. 21, 2025

HSBC delays net-zero emissions goal by 20 years

The U.K.-based bank said it was “revising [its] ambition” and delaying its target of hitting net-zero across its operations, business travel and supply chain from 2030 to 2050.

By Zoya Mirza • Feb. 20, 2025

Banks back away from DEI mentions

JPMorgan Chase, Citizens and Huntington have reduced or eliminated their references to diversity, equity and inclusion amid a White House crackdown, according to the banks’ latest annual filings.

By Caitlin Mullen • Feb. 20, 2025

Dems ask SEC, DOL to not issue anti-ESG rules: Exclusive

A coalition of 17 blue state finance officials sent a letter to the agencies to counter prior assertions made by their Republican colleagues.

By Lamar Johnson • Feb. 20, 2025

CSDDD is a ‘non-tariff barrier’ for US companies: House Financial Services Chair

Rep. French Hill said during a webinar that the Corporate Sustainability Due Diligence Directive will create costly barriers for U.S. corporations to do business in and engage with the bloc. 

By Lamar Johnson • Feb. 19, 2025

Climate change should be incorporated into ‘daily decision-making’: JPMorgan

“Understanding climate risk is important for staying ahead in the financial landscape,” JPMorgan’s chief risk officer and global head of corporate advisory wrote in a new report.

By Zoya Mirza • Feb. 19, 2025