ExxonMobil to go to court over climate deception lawsuit July 26th, 2024 Connecticut Attorney General William Tong’s consumer protection case against ExxonMobil will advance towards trial, court rules. This week, a Connecticut judge denied ExxonMobil’s motion to dismiss Tong’s lawsuit, stating that because Exxon is registered to do business in Connecticut as a foreign corporation, […]
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Action on climate needed for global equity values July 24th, 2024 Climate risk has a significant impact on global equity valuations and aggressive policies are needed to reduce losses, according to research from EDHEC-risk climate impact institution. The study, “How Does Climate Risk Affect Global Equity Valuations? A Novel Approach“, found over 40% of global […]
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FRC releases major update to UK Stewardship Code July 22nd, 2024 The Financial Reporting Council (FRC) has published significant revisions to the UK Stewardship Code application process. The regulator has also announced that it has identified five priority areas of review, following engagement with over 1,500 stakeholders, as it continues its revisions of the code. […]
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CalPERS reinforces commitment to shareholder engagement July 19th, 2024 The California Public Employees’ Retirement System (CalPERS) has reasserted the importance of shareholder rights following ExxonMobil’s AGM. Speaking at the Investment Diversity Exchange conference, CalPERS’ CEO Marcie Frost said its rift with ExxonMobil presented an opportunity to be “courageous”, Pensions and Investments reports. She said that […]
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Climate disclosure in US strong at state level July 19th, 2024 California, Illinois and New York have pushed ahead with climate disclosure requirements despite legal push back on the Securities and Exchange Commission’s (SEC’s) final regulations. The SEC finalised its climate disclosure rules in March after more than a year wrestling over the requirements, but […]
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SBTN publishes updated guidance for nature targets July 18th, 2024 The Science Based Targets Network (SBTN) has released amended guidance and a new corporate manual with updated advice for companies. The updated technical guidance and enabling materials emphasised the importance of increasing ambition and driving science-based action on nature. It included updated methods for organisations […]
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The Financial Conduct Authority (FCA) has updated the UK’s listing regime to streamline the rules, hoping to boost growth and innovation.
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The Chartered Financial Analyst (CFA) Institute has urged the European Union (EU) to address the challenge of unreliable ESG data and mitigate greenwashing risks in its ESG regulatory framework.
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The European Sustainable Investment Forum (Eurosif) has released the Corporate Sustainability Due Diligence Directive (CSDDD), which will soon be adopted into EU member states’ law.
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A New York judge has dismissed a lawsuit against three pension funds in the New York City Retirement System for violating fiduciary duties.
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