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Esg Policies

All articles tagged with #esg policies

finance1 year ago•4 min saved

West Virginia Expands ESG Blacklist, Bans Four More Financial Firms

West Virginia's treasurer has barred Citigroup Inc., Toronto-Dominion Bank, Northern Trust Corp., and HSBC Holdings PLC from providing state banking services due to their perceived boycott of the fossil fuels industry, based on their environmental, social, and governance policies. This decision stems from a 2022 GOP law and includes a total of nine financial services companies on the state's list. The affected banks have either declined to comment or stated that they do not boycott the industry, while the state treasurer, Riley Moore, who is running for Congress, has emphasized his opposition to the "woke corporate agenda."

via Financial Post|

#banking-contracts #esg-policies #finance

finance1 year ago•1 min saved

"BlackRock's Larry Fink Urges Action to Address Looming Retirement Crisis"

BlackRock's CEO Larry Fink has warned of a looming financial crisis facing retirees and announced the launch of "LifePath Paycheck" next month to address the issue, aiming to make it available for 500,000 employees as defined contribution plans. Fink emphasized the need for an organized effort to ensure future generations can retire with dignity, citing data showing nearly half of Americans aged 55 to 65 have no retirement savings. He also highlighted climate transition as a major economic trend and discussed BlackRock's ESG policies, which have been a topic of discord, particularly in Republican states.

via New York Post |

#blackrock #esg-policies #finance

finance1 year ago•3 min saved

"Texas Withdraws $8.5 Billion from BlackRock Over ESG Investing"

BlackRock is pushing back on Texas' decision to withdraw $8.5 billion in assets from the Texas Permanent School Fund over alleged boycott of energy companies. BlackRock's Vice Chairman Mark McCombe disputed the state's claims, stating that the firm complies with Texas law and has delivered strong performance for the fund. He criticized the lack of transparency in the decision-making process and urged Texas to reconsider, emphasizing the long-term benefits of their partnership.

via Fox Business|

#blackrock #energy-companies #esg-policies

finance2 years ago•1 min saved

"House Panel Investigates Alleged ESG Collusion: Vanguard and Arjuna Subpoenaed"

The House Judiciary Committee has issued subpoenas to The Vanguard Group and Arjuna Capital as part of its investigation into whether investment firms' environmental, social, and governance (ESG) policies violate antitrust laws. The committee is seeking documents and communications related to the firms' advancement of ESG policies, alleging that they may have entered into collusive agreements to reduce emissions and decarbonize their assets in ways that violate U.S. antitrust law. The subpoenas are part of a broader investigation into whether coalitions like Climate Action 100+ deprive investors of opportunities in the oil and gas sector. Several other organizations, including BlackRock and State Street, have also received requests for ESG-related documents from the committee.

via CNBC|

#antitrust-laws #arjuna-capital #esg-policies

business2 years ago•1 min saved

Larry Fink Fires Back at Republicans Over BlackRock Criticism

BlackRock CEO Larry Fink criticized Republican presidential candidates for unfairly targeting the firm during the fourth debate. BlackRock has faced backlash for its ESG policies, resulting in a loss of $4 billion in assets under management. Fink defended the firm's agenda of delivering for clients and refuted claims that BlackRock was deterring American energy companies. Shares of BlackRock closed slightly higher after the debate.

via New York Post |

#american-politics #blackrock #business