Citigroup, whose CEO, Jane Fraser, took the helm this morning, today announced in a blog its commitment to achieve net-zero greenhouse gas emissions from its financing activities by 2050.
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Today Bank of America announced its commitment to achieving net-zero greenhouse gas emissions from its financing activities by 2050, following an earlier announcement to measure and disclose its financed emissions through the Partnership for Carbon Accounting Financials.
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For nearly two years, Joe Biden has been clear with the American people about the first steps he would take if elected as the nation’s 46th president. Today, shortly after taking office, President Biden plans to take the following climate actions:
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The Office of the Comptroller of the Currency (OCC) has finalized the Fair Access to Financial Services rule a day after current OCC head Brian Brooks announced his resignation. As global banks increasingly tighten credit to clients that pose significant climate risk, including coal projects and Arctic oil and gas projects, the OCC rule establishes new hurdles to banks exercising risk management.
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Trump administration officials auctioned off oil and gas leases in Alaska’s Arctic National Wildlife Refuge on Wednesday, a move that marks one of the most significant environmental rollbacks President Trump has accomplished in his term.
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The Climate Action 100+ (CA100+), an initiative comprised of more than 540 global investors managing $52 trillion in assets under management, released its 2020 Progress Report Thursday showing that many high-emitting companies remain unaligned with the goals of the Paris Agreement.
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Shareholder representative As You Sow filed shareholder proposals at four of the largest U.S. gas and electric utilities, Dominion Energy, DTE Energy, Duke Energy, and Southern Company, raising concerns about the companies’ continued investments in natural gas. Shareholders are concerned that these utilities are claiming “Paris-alignment” while remaining on a path toward stranded asset risk.
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Shareholder representative As You Sow recently filed resolutions at two of the largest integrated fossil fuel companies in the U.S. — Exxon Mobil and Dow Inc. — asking the companies to address the growing risks associated with investments in plastic and petrochemical infrastructure.
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Shareholder advocate As You Sow — joined by several investors including Mercy Investment Services, Arjuna Capital, Boston Trust Walden, Presbyterian Church USA, and Boston Common Asset Management, among others — recently filed climate-focused resolutions with a large segment of the U.S. banking industry, including JPMorgan Chase, Wells Fargo, Bank of America, Goldman Sachs, and Citigroup.
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Shareholder representative As You Sow, joined by Calvert and Illinois State Treasurer’s Office, today filed a shareholder proposal at Sempra Energy asking the California-based utility to describe the alignment (or lack thereof) of its lobbying activities with the Paris Agreement’s goal of limiting temperature rise to 1.5 degrees.
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Today, the Partnership for Carbon Accounting Financials (PCAF) launched its methodology enabling banks to measure and disclose the emissions associated with their financed activities.
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Chevron Phillips Chemical Company (CPChem), owned jointly by Phillips 66 and Chevron, released its “Managing Climate Change Risks” report Thursday, describing how the company is addressing growing threats from climate change-induced storms, flooding, and sea level rise.
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The Massachusetts Department of Public Utilities (DPU) Thursday announced it is opening an official investigation into the role of gas utilities in consideration of the state’s climate goals.
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General Electric (GE) announced today it is setting a goal to achieve carbon neutrality for its facilities and operational greenhouse emissions by 2030.
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Southern Company released its Implementation and Action Towards Net Zero report on Monday, describing its plan to achieve net-zero emissions by 2050.
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General Electric today announced an intent to exit the new build coal power market. The company, while gaining increasing positive attention for developments in wind turbines and other renewable technologies, has been criticized for continuing to promote high-carbon projects globally.
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Today, the Steering Committee of Climate Action 100+ (CA100+), an initiative comprised of more than 450 global investors managing more than $40 trillion in assets under management, gave notice to high-emitting companies that they will soon be publicly evaluated on how they are (or are not) transitioning their business strategies and operations in alignment with the goals of the Paris Agreement and a net-zero emissions future.
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