NewsRoom Articles - Page 23 of 51

FridayMay 17, 2024 10:00 am

Oklahoma AG Fires Lawyers After Court Ruling Blocking Law Against ESG

The attorney general of Oklahoma revealed that he is firing the outside team of lawyers that had been contracted to defend the state’s position regarding a law that seeks to bar pension systems from doing business with companies that restrict their investments in oil and gas ventures. The AG’s announcement came a few days after a judge issued a temporary injunction blocking Oklahoma from implementing that law. In a recent statement, Republican AG Gentner Drummond revealed that he was firing the legal team from Plaxico Law Firm. He added that team members had been handpicked by Todd Russ, treasurer of…

ThursdayMay 16, 2024 9:00 am

Aston Bay Holdings Ltd. (TSX.V: BAY) (OTCQB: ATBHF), Other Mineral Exploration Companies Watching 2024 Budget Impact

Canada’s 2024 budget builds upon earlier commitments to mining industry, strategy Changes to the Mineral Exploration Tax Credit have potential to impact mining exploration Aston Bay, other mining companies make up Canada’s mining industry, which is a major sector of the country’s economy Last week Canada officials released the official budget, which included a mix of measures that will impact the country’s mining and mineral exploration sector (https://ibn.fm/91cP2). Aston Bay Holdings (TSX.V: BAY) (OTCQB: ATBHF), a publicly traded mineral exploration company exploring for high-grade copper and gold deposits in Canada’s Nunavut territory, may be impacted by the announcement, along with other Canada-based…

WednesdayMay 15, 2024 3:00 pm

State Judge in Oklahoma Blocks Anti-ESG Law

Oklahoma is a major producer of gas and oil in the United States. Last week, a state judge barred a law that forbids pension systems in the state from working with companies that limit investment in the gas and oil industry. Judge Sheila Stinson of Oklahoma County District issued a temporary injunction blocking the law’s enforcement. In her ruling, the judge explained that the state’s constitution required that retirement funds be managed exclusively for the beneficiaries’ benefit. She also noted that the law contained unclear and conflicting definitions for key terms, in addition to countering specific political agendas that would…

TuesdayMay 14, 2024 10:30 am

Innovative Water-generation Contract Amid Significant Mexico Drought Demonstrates Significant Market Opportunity for Energy and Water Development Corp. (EAWD)

Significant drought conditions in Mexico with months to go before the fall rainy season have led to concerns one of the world’s most populous cities may soon run entirely out of water, with residents currently struggling to make the most of a limited supply Innovative green tech engineering services company Energy and Water Development Corp. has entered an MOU with some of the city’s residents to create first-of-its-kind Off-Grid Atmosphere Water Generation Plant that will extract moisture from the air to ease the crisis The facility is expected to generate about 3.2 million liters of water annually, with a later…

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…

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