Investors with $315 billion in assets under management commit to setting net-zero goal within a year.
The regulator’s chief says he’s concerned about the greenwashing of ESG investments.
Pat Toomey and Ron Johnson say firms’ CEOs are putting personal views above their fiduciary duty.
The Financial Conduct Authority says current policies do not meet investors’ needs.
It would require companies to reveal how environmental, social, and governance metrics affect their business strategy.
The state pension fund has more than $1 billion invested in companies such as Chevron, Exxon, and ConocoPhillips.
Investors expect the consolidation will result in more consistent sustainability standards.
CalPERS, CalSTRS, and NY Common helped push through outside directors at the oil leviathan, rather than unload its shares.
Similar proposals will land at other companies, including American Express and Procter & Gamble.
That’s the argument from our symposium panelists, who say sustainability boosts stocks both now and into the future.