NewsRoom Articles - Page 22 of 50

MondayMay 13, 2024 10:00 am

UK High Court Says Britain’s Action Plan on Climate Is Unlawful

The United Kingdom’s efforts to combat climate change have taken a blow after the High Court declared that the Carbon Budget Delivery Plan (“CBDP”) was unlawful. The court ruled that the plan lacked crucial details that would indicate how the country intended to achieve its targets of curbing emissions linked to global warming. The court pointed out that the details of this plan were “unquantified and vague.” This absence of clarity meant it would be nearly impossible to ascertain whether the UK could realistically attain the stated goals of reducing emissions so that the milestones for 2030 and 2050 are…

FridayMay 10, 2024 10:00 am

ESG Backlash Causes Major Asset Managers to Go Quiet

The United States has witnessed significant outflows of investment from environmental, social and governance (“ESG”) funds in 2024. This can partially be attributed to the backlash that ESG has been facing, leaving many ESG asset managers at a loss as to how to address the situation. A report authored by Morningstar indicates that $8.8 billion in net outflows was recorded by U.S. ESG funds during the first quarter of 2024. The bulk of those outflows were from investment funds that are actively managed along with two ETFs run by iShares. Politicization of ESG in the U.S. has caused many asset…

FridayMay 10, 2024 9:00 am

Energy and Water Development Corp. (EAWD) Announces Filing U.S. National Stage Application Aligning with The Company’s International Applications

The U.S. National Stage patent application is part of the company’s strategic initiative to secure its intellectual property on a global scale EAWD is not just aiming to become integral to this expanding industry, but also to reassure stakeholders of its environmental responsibility and commitment to sustainability, tapping into the world’s emerging markets The patent revolutionizes water resource management by harnessing renewable energy to extract water directly from atmospheric humidity The company aims to provide sustainable value to each project while generating revenue by selling its systems and licensing its technologies, along with associated engineering and project management services Energy…

WednesdayMay 08, 2024 10:00 am

EU Gives Airlines 30-Day Deadline Over Greenwashing Claims

Last week, the European Union opened an inquiry into what are possibly misleading greenwashing claims by some airlines. These practices include claims that fuel emissions are offset by initiatives focused on sustainability. While the airlines haven’t been listed, the regulators involved are Spanish, Norwegian, Dutch and Belgian. The European Union has given the airlines involved a 30-day deadline to present evidence that the claims made in their ads aren’t misleading. The objective is to put an end to the growing trend of companies promoting their business, services and/or products as more environmentally friendly than is factually true. Regulators have proposed…

MondayMay 06, 2024 10:00 am

US ESG Battle Now Shifts to Courts

At the start of last month, the U.S. Securities and Exchange Commission (“SEC”) revealed that it would take more time in the implementation of new reporting rules for public companies as they dealt with the courts. This comes after the U.S. Court of Appeals for the Fifth Circuit halted the change, within days of adoption. The rules, which touch on environment, social and government (“ESG”) issues, are being challenged in other federal courts and by different groups. For instance, workers supported by right-wing groups in New York have filed a lawsuit accusing the state’s pension managers of breaking their fiduciary…

FridayMay 03, 2024 10:00 am

Louisiana Lawmakers Want to Restrict State Universities from Using ESG

Lawmakers in Louisiana are looking to restrict state universities from using environment, social and governance (“ESG”) criteria via a new house bill. Dubbed House Bill 909, the measure would require that state university boards first gain the approval of policymakers before deploying ESG-based criteria. According to House Bill 909, public postsecondary education management boards as well as boards of regents at state universities would require the approval of the Joint Legislative Committee on the Budget before they launch any activities related to environment, social and governance-related activities. Representative Charles Owen sponsored the measure and voluntarily deferred to avoid forcing a…

WednesdayMay 01, 2024 10:00 am

Investment Advisor Says Investors Expect More Personalization on ESG

A top investment advisor says the key to attracting investors in the current market is to provide more ESG personalization. According to Bartlett Wealth Management president and wealth advisor Holly Mazzocca, investors are looking for increased personalization when it comes to environment, sustainability and governance (“ESG”) investing. Although ESG has been one of the most prominent trends in the financial world for the past several years, its popularity has been hit in recent years amid consistent attacks from American conservatives and fears of greenwashing. Greenwashing is a form of corporate advertising or personal relations that makes it seem as though…

MondayApr 29, 2024 2:00 pm

Climate Change Puts Mining Companies in Catch-22

As countries around the world work to reduce carbon dioxide emissions in an effort to slow global warming, the extraction of metals such as cobalt, nickel and copper grows even more important. Forecasts from the World Bank estimate that by 2050, the demand for minerals and metals needed to produce clean energy in order to meet the objectives set under the Paris Agreement will have grown by close to 500%. This surge in demand is expected to affect nature and biodiversity negatively, however, with Re:wild warning that over one-third of great apes in Africa were at risk due to increased…

FridayApr 26, 2024 9:45 am

Headhunter Says Top ESG Professionals Becoming Disillusioned by Lack of Commitment

Despite the recent surge in corporate sustainability commitments across several industries, top environment, sustainability and governance experts are becoming increasingly disillusioned with the lack of proper commitment by companies. The result is a notable increase in senior ESG professionals searching for new employment opportunities after realizing that their bosses were not as serious about committing to sustainability practices as they initially claimed. TWS Search Partners founder and sustainability market headhunter Tom Strelczak says he has seen an increase in the number of inquiries from candidates dissatisfied with their previous positions in Q1 2024. According to Strelczak, some ESG specialists are…

WednesdayApr 24, 2024 2:30 pm

Group of ESG Investors Demand for Market Reforms

A coalition of ESG investors from different parts of the globe say the time has come for more accountability by private markets. This comes after evidence showed that private markets are absorbing many fossil-fuel-linked assets. The coalition, called the Net Zero Asset Owner Alliance (“NZAOA”), has $9.5 trillion under management. NZAOA has 89members, including Munich Re, Zurich Insurance as well as CalPERS. It is currently focused on broadening its scope to encompass all classes of private assets. Prior to this change, residential mortgage loans as well as debt funds of directly held real estate and other debt funds were excluded…

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