Alex Pearon, Author at ESGWireNews

FridayJan 31, 2025 10:00 am

Bloomberg Pledges to Avail Funding to Fill Gaps Resulting from America’s Withdrawal from Paris Agreement

Earlier this week, Michael Bloomberg announced that Bloomberg Philanthropies and other climate funders in America would provide funding to help fulfil the country’s obligations under the 2015 Paris Agreement. Bloomberg, a former mayor of New York City and United Nations Secretary General’s Special Envoy on Climate Ambition and Solutions, explained that this funding would ensure that America met its climate obligations, which include upholding America’s reporting commitments. This announcement comes after President Donald Trump signed an executive order to withdraw America from this climate coalition. Prior to its exit from this accord, the United States contributed over 20% of the…

ThursdayJan 30, 2025 10:00 am

‘Greenhushing’ on the Rise as ESG Backlash Grows

Donald Trump’s win at the 2024 Presidential elections and his subsequent swearing in has seen America’s landscape begin to change, a shift that may also affect the world at large by minimizing focus on environmental policies and placing fossil fuels at the center of the discussion. This change is taking place alongside green hushing, which has influenced how many firms communicate, especially in the energy sector. So, what is greenhushing? This is when an organization or firm stays quiet about or downplays their sustainability practices and environmental efforts, despite making positive progress for the environment. Companies may avoid any discussions…

TuesdayJan 28, 2025 10:00 am

BNP Paribas Decides to Rethink How it Defines Sustainable Finance

A senior executive at BNP Paribas revealed recently that the bank was focused on reimagining what it considered sustainable and reevaluating sustainable finance to center on profitability. BNP Paribas is a French multinational universal bank and financial services holding firm that provides global financial services and solutions in a changing world. This announcement comes after the bank distanced itself from ESG, following unsatisfactory returns from investments. Constance Chalchat, chief sustainability officer at the firm’s corporate and institutional banking division, explained that this move would help make sure that sustainable finance didn’t compromise profitability. Chalchat added that the bank was focused…

FridayJan 24, 2025 10:00 am

Study Finds Majority of Investors Consider ESG, Though Barriers Remain

A new survey has determined that more than half of investors still consider ESG factors as crucial when it comes to asset allocation in portfolios. 63% of investors consider environment to be important while 58% and 51% consider governance and social factors to be important. Fidelity International, a global asset manager, conducted the survey, which involved more than 120 intermediary and institutional distributors across Asia and Europe and centered on investor interest in integrating ESG factors into their portfolios. The survey showed that European and institutional investors placed greater emphasis on ESG factors in portfolio asset allocation. It also examined…

ThursdayJan 23, 2025 10:00 am

WEF Says ESG Initiatives Require Solid Economic Foundations

Over time, ESG is becoming more important to investors and in turn, companies. A survey conducted by McKinsey revealed that roughly 85% of Chief Investment Officers held the opinion that ESG played a key role in their investment decisions. The survey also determined that about 60% of respondents examined their portfolios for ESG issues, with another 80% assessing how ESG factors influenced projected cash flows. Additionally, a study by the NYU Stern School of Business has identified a strong correlation between financial performance and ESG. Given that companies receive substantial ESG investments and the benefits of these initiatives are primarily…

FridayJan 17, 2025 10:00 am

Federal Judge Finds American Airlines Culpable for Prioritizing ESG in Retirement Fund

Last week, U.S. District Judge Reed O’Connor ruled that American Airlines had breached the law by making investment decisions for its employee retirement plans based on non-financial factors like ESG. The airline was sued in 2023 by a pilot, Bryan Spence, via a class action suit that represented over 100,000 participants in the retirement plan. In the suit, the pilot argued that the airline had infringed the Employee Retirement Income Security Act by not remaining loyal to participants in their 401k plan in overseeing their assets. In February 2024, O’Connor dismissed claims made by the airline that the suit needed…

ThursdayJan 16, 2025 10:00 am

Study Uncovers Fascinating Findings about Canadian Firms’ Use of Social Media for ESG Visibility

Previous studies have determined that strong ESG performance decreases costs of capital for firms, resulting in better performance of their stocks. With investors becoming more socially and environmentally aware of the effect of their investment decisions, more are moving toward firms that align with their ideals. This has seen some companies turn to social media as a way to share information, particularly investors in the younger generations. A recently conducted study analyzed how ESG disclosures made by Canadian firms on social media influenced their financial performance, particularly their return on equity. The researchers began by analyzing posts on X (formerly…

TuesdayJan 14, 2025 10:00 am

Trends That ESG Professionals Should Keep an Eye on in 2025

2025 may be a difficult year for the ESG space, particularly after president-elect Trump is sworn in. It is expected that Trump’s administration will reverse the progress made by Biden’s administration in this space, particularly climate-friendly and ESG regulations and legislations. Already, some of the biggest banks in the country have exited climate alliances, with major firms like Meta also withdrawing from their DEI commitments. Below, we look at other trends professionals in the ESG space need to look out for this year. More firms on Wall Street exiting climate alliances On New Year’s Eve, Citigroup and Bank of America…

FridayJan 10, 2025 10:00 am

Bank of America, Morgan Stanley, Citigroup Exit Coalition Backing Net-Zero Goals

Last week, three major financial institutions exited the Net-Zero Banking Alliance, an international banking climate alliance committed to aligning their activities with net-zero greenhouse gas emissions targets by 2050. The group was founded in 2021 by the United Nations and holds a total of $71 trillion in assets. It has more than 100 banks from forty-four countries as members. The recently departed institutions, Morgan Stanley, Citigroup, and Bank of America, gave separate statements on the matter. A Citi spokesperson stated that the bank would focus its attention on addressing limits to capital mobilization to emerging markets in support of the…

TuesdayJan 07, 2025 10:00 am

How AI is Influencing Sustainability’s Future

A report recently released by PwC discusses how the future of sustainability may be influenced by the evolving role of artificial intelligence. Already, AI is being utilized by businesses to promote the adoption of renewable energy, strengthen supply chains, and reduce carbon emissions, all while mitigating climate risks. A separate report highlights the importance of properly implementing AI, revealing that nearly 75% of investors would prioritize companies committed to effective climate action, such as scaling renewable energy and innovating products. To fully harness the value of AI, businesses can align their sustainability priorities with AI initiatives, driving efficiency, uncovering new…

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Author: Alex Pearon