Finance: Page 14


  • Protesters seen outside BlackRock's Manhattan headquarters.
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    Spencer Platt via Getty Images
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    Texas schools fund pulls $8.5B from BlackRock over ESG

    The divestment is the latest from the Lone Star State, which has already placed BlackRock on restricted lists over its stance on fossil fuels.

    By March 21, 2024
  • Building and assembling a construction wind turbines farm by a crane
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    Olya Solodenko via Getty Images
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    Morningstar launches indexes on companies’ transition to low carbon economy

    The financial services firm believes the indexes offer “a very different way” for investors who want to target the climate transition, while “maintaining exposure to high carbon-intensive sectors.”

    By March 20, 2024
  • Solar project
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    Courtesy of The Rockefeller Foundation
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    Q&A

    Rockefeller Foundation’s new CFO: Climate crisis is a ‘big motivator’

    Keith Olson took the finance reins of the 111-year-old philanthropic powerhouse earlier this month. He is an alum of the Bill & Melinda Gates Foundation.

    By Maura Webber Sadovi • March 19, 2024
  • Google logo displayed in front of building.
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    Justin Sullivan via Getty Images
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    Google pledges to buy $35M in carbon removal credits, matches DOE

    The tech giant’s commitment builds on the Department of Energy’s initiative to scale the carbon removal purchase sector.

    By March 18, 2024
  • An aerial view of German solar and onshore wind farm
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    Sean Gallup via Getty Images
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    KKR announces $3B takeover of European renewable energy producer Encavis

    The independent power producer said it will also up its 2027 operating capacity target to 7 gigawatts.

    By March 18, 2024
  • Flags fly at full staff outside the NYSE with the Wall ST sign in the foreground
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    Kena Betancur via Getty Images
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    Net-Zero Banking Alliance updates disclosure guidance, extends to capital markets

    The UN-aligned group also stressed that all member banks should act and set climate targets independently, following a flurry of antitrust allegations.

    By March 14, 2024
  • Boston skyline with a view of Prudential Center
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    Maddie Meyer via Getty Images
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    Massachusetts pension fund updates ESG proxy voting policies

    The updates include additional information on how the state pension fund will vote on the “most important and scrutinized corporate governance topics among institutional investors.”

    By March 12, 2024
  • A wind turbine lays on the ground as part of a wind farm being built in New Mexico.
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    halbergman via Getty Images
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    Renewable energy M&A is entering a new paradigm, LevelTen Energy says

    The latter half of 2023 saw a significant slowdown in M&A transactions, which LevelTen Energy believes signals a shift in strategy among renewable energy developers.

    By Emma Penrod • March 12, 2024
  • Solar panels are mounted on the west wing roof of the Oregon State Capitol.
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    Melanie Conner via Getty Images
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    Oregon retirement fund to divest $1B from coal industry under new bill

    Alongside its decarbonization directives, the bill also states that divestments “must be accomplished without monetary loss to the investment funds.”

    By March 11, 2024
  • A tractor turns hay in a field under a partly cloudy sky.
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    David Silverman via Getty Images
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    USDA counters claims over misuse of climate funds

    An Environmental Working Group report says the majority of climate-smart agriculture funding go toward projects with no proven sustainability benefits.

    By Nathan Owens • March 11, 2024
  • Gary Gensler points
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    Alex Wong via Getty Images
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    SEC approves final climate disclosure rule, starts compliance countdown

    The rule passed by a 3-2 vote Wednesday morning, absent requirements for scope 3 reporting and slimmer scope 1 and scope 2 requirements.

    By March 6, 2024
  • Gary Gensler smiles as he prepares to sit and testify
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    Drew Angerer via Getty Images
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    SEC drops scope 3 from final climate rule, takes phased approach to scope 1 and 2 reporting

    The agency said scope 3 was removed due to a large number of comments concerning compliance costs, as well as the consistency and reliability of scope 3 data.

    By Updated March 6, 2024
  • Montana Attorney General Austin Knudsen, Oklahoma Attorney General Gentner Drummond and Missouri Attorney General Andrew Bailey stand at a House Homeland Committee hearing
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    Kent Nishimura via Getty Images
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    16 Republican AGs question BlackRock fund directors over ESG

    The letter asks directors about BlackRock’s involvement with ESG groups and whether this causes conflicts of interest in its fiduciary duty to its shareholders.

    By March 5, 2024
  • A sign hangs on the BlackRock offices
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    Andrew Burton via Getty Images
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    Mounting ESG scrutiny could affect revenues, reputation: BlackRock

    Increasing domestic and international ESG regulations could increase compliance costs and uncertainty, the firm said in its annual SEC filing.

    By March 4, 2024
  • West Virginia state capitol
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    Archive Photos via Getty Images
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    West Virginia warns 6 banks they’re headed for restricted list over fossil fuel stances

    BMO Bank, Citibank, Fifth Third Bank, Northern Trust, TD Bank and HSBC all received notices, according to West Virginia Public Broadcasting.

    By March 1, 2024
  • An American Airlines plane lands
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    Joe Raedle via Getty Images
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    American Airlines pushes back after failed dismissal of pilot’s anti-ESG lawsuit

    The Texas-based airline said its pilot has provided no breach or loss to support his claims and asked the judge to rule solely on the merits of the case.

    By Feb. 29, 2024
  • House Oversight Committee chairman Rep. James Comer listens to a hearing
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    Drew Angerer via Getty Images
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    House GOP launches new probe into ESG investing

    Oversight Committee Chair James Comer asked the Federal Reserve whether industry coalitions with ESG goals could constitute control of regulated companies.

    By Feb. 28, 2024
  • American Airlines jets sit on the tarmac as an American Eagle jet taxis to the gate at O'Hare International Airport April 25, 2003 in Chicago.
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    Scott Olson / Staff via Getty Images
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    American Airlines must face pilot’s lawsuit over ESG investments

    Federal Judge Reed O’Connor said the pilot has a plausible enough complaint to continue, despite not yet factually proving any harm.

    By Feb. 26, 2024
  • Panoramic view of a solar farm in the Appalachian Mountains near Nesquehoning, Pennsylvania.
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    Alex Potemkin via Getty Images
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    Solar, battery storage will be 81% of new electricity generation capacity this year: EIA

    Solar will increase by a record 36.4 GW if additions proceed as scheduled this year, the U.S. Energy Information Administration said.

    By Diana DiGangi • Feb. 22, 2024
  • Pedestrians walk by a Verizon Wireless store.
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    Justin Sullivan via Getty Images
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    Verizon allocates $1B green bond proceeds to renewable energy projects

    The telecommunications provider’s investment builds on its goal to achieve net-zero emissions across its operations by 2035.

    By Feb. 21, 2024
  • GreenBiz24 logo seen on the wall.
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    Lamar Johnson/ESG Dive
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    Push for climate policy and adaptation lead concerns at GreenBiz24

    More than 2,500 sustainability professionals flocked to Phoenix for the GreenBiz24 conference to hear the industry’s latest insights.

    By Feb. 21, 2024
  • New York State Comptroller Thomas DiNapoli speaks at an event.
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    David Dee Delgado via Getty Images
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    New York pension fund to divest $26.8M from 8 oil companies, including ExxonMobil

    The state pension fund has also set a new goal to commit $40 billion to sustainable investments and climate solutions by 2035.

    By Feb. 20, 2024
  • A man walks into a BlackRock office building.
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    Andrew Burton via Getty Images
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    BlackRock expands voting choice program to individual investors

    The asset manager will now allow over 3 million additional investors to take control of their power in the proxy vote process.

    By Feb. 16, 2024
  • People pass the JPMorgan Chase & Co. headquarters on the street.
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    Spencer Platt via Getty Images
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    JPMorgan, State Street exit Climate Action 100+ coalition

    BlackRock also revised its membership after the coalition announced its “phase 2” requirements that signatories enhance their corporate disclosure and implement climate transition plans.

    By Feb. 15, 2024
  • A high-voltage transmission line in a field of grain.
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    Damien Verrier via Getty Images
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    US clean energy sector is breaking records but presidential election, other challenges loom: WRI

    “Policymakers, regulators, developers and manufacturers must double down on their efforts to address key challenges,” said the World Resources Institute in a report.

    By Diana DiGangi • Feb. 15, 2024