BlackRock to Develop World’s Largest Direct Air Capture Plant With Occidental
The asset manager is investing $550 million in a joint venture with the oil and gas giant’s 1PointFive subsidiary.
ESG
New Definitions Proposed for Responsible Investing
CFA Institute-led group seeks to provide verbiage for investors that promotes unifying around common, accurate and consistent definitions for responsible investment practices.
Greenwashing Among Banks, Financial Services Firms Jumps 70%
A RepRisk report finds nearly 1,900 companies linked to a risk incident involving misleading communications.
Most Asset Owners Seek to Implement ESG Strategy, Says Morningstar
The 2023 Voice of the Asset Owner survey probes views on developing ESG investment strategies.
Tom Steyer Closes $1B Climate Fund
The Innovation + Expansion Fund from Galvanize Climate Solutions will invest in climate startups.
Mercer Launches Catalytic Investment Exchange to Support Energy Transition Projects
The project will bring together deal sponsors and direct investors to navigate investments.
Shareholder Proposals Increase, Yet Few Gain a Majority
Environmental and social resolutions boosted the number of filings this spring, ISS says, while anti-E&S resolutions also shot up.
Church of England Organizes $128M Fund Addressing Ties to Slave Trade
The investment and grant fund will focus on projects to help communities ‘adversely impacted’ by the ‘appalling evil’ of human bondage.
Barr Introduces Another Anti-ESG Bill in House
Mirroring language from Trump-era rules, the Ensuring Sound Guidance Act would require that only pecuniary factors be considered by fiduciaries in investment decisions.
Earnings Calls Include Fewer ESG Mentions, but Talk of AI Is Rising
While political controversy dogs green initiatives, artificial intelligence replaces them as the new popular topic.
Green-Minded Church of England Opposes Shell Directors in Proxy Fight
The religious body’s pension plan accuses the oil giant of pulling back from its environmental pledges.
Kansas Governor Allows Anti-ESG Bill to Become Law
Laura Kelly neither vetoes nor signs bill, permitting its implementation despite ‘reservations about the potential unforeseen consequences.’
UN PRI Report Shows Investment Managers Can Improve on ESG
PRI signatories are meeting the framework’s minimum goals, but there is a long way to go.
Harvard Endowment Reports on Its Net-Zero Progress
The fund, pledging to hit the goal by 2050 for its investments, has at least gotten there in its own physical operations.
Europe’s Second Largest Pension to Divest From Fossil Fuels
ABP has approximately $17.4 billion invested in the industry.