NEW YORK — A new report by the Sierra Club’s Fossil-Free Finance campaign on the role of big US banks in capital markets reveals a hidden pipeline for fossil fuel financing through the banks’ underwriting of bonds and equities for polluting companies.
'This crusade against sustainable investing is nothing more than a manufactured culture war backed by fossil fuel interests and dark money funders.'
Executive Director Ben Jealous to speak at press conference on Wednesday, July 12 at 1:30pm ET
30 largest asset managers in Europe, US do not have sufficient policies to engage with companies
First comprehensive look at anti-ESG legislative campaign finds massive backlash
In a new report released earlier this week, Morningstar found that Vanguard’s support for ESG resolutions is half that of its rivals BlackRock and State Street. Morningstar examined 100 “key” resolutions at S&P 100 companies filed over a two-year period ending on March 31, 2023. Morningstar defined a “key” resolution as one that is supported by at least 40% of a company’s independent shareholders.
As insurers abandon communities facing rising climate threats from the Gulf Coast to California, fears of an uninsurability crisis in the US are growing.
CA & NY – Ahead of Toyota’s Annual General Meeting (AGM) later this month, two of the nation’s largest pension systems – California Public Employees' Retirement System (CalPERS) and the Office of the New York City Comptroller – just voted against the re-election of Toyota Chairman Akio Toyoda and in support of a resolution urging Toyota to improve disclosure of its lobbying on climate change.
Proposal receives 10% support from investors, the highest of all shareholder resolutions filed at the asset manager this year
Sierra Club calls it a ‘disappointing season for investor accountability on Wall Street’s climate promises’
35% of shareholders call on bank to publish transition plan to align financing with 2030 emissions reduction targets, the highest vote total yet among similar resolutions at big US banks this year