The House Judiciary Committee sent letters to more than 130 U.S.-based companies, retirement systems and government pension funds that are members of Climate Action 100+, questioning their involvement in the group, the committee announced Tuesday. In addition to asking for the organizations’ documents on their ESG goals, involvement in the climate coalition and communications with…

The Global Reporting Initiative (GRI) and the Taskforce on Nature-related Financial Disclosures (TNFD) have launched a joint interoperability mapping resource to align TNFD Disclosure Recommendations with GRI Standards, streamlining reporting processes for businesses. Developed over two years of collaboration, this resource aids GRI’s 14,000 reporting organizations in aligning with TNFD Recommendations, while also supporting TNFD adopters…

A record number of environmental and social-related shareholder proposals, 349, went to a vote before U.S. boards in the first half of 2024, according to data unveiled by Diligent Market Intelligence Tuesday. This is up from 319 and 256 for the same time span in 2023 and 2022, respectively. In spite of the record number…

The window for lawmakers to repeal the Securities and Exchange Commission’s climate-risk disclosure rule via the Congressional Review Act closed on Thursday, which marked 60 Senate session days since the rule was published in the Federal Register, according to an emailed release from Petkanas Strategies. Republican lawmakers introduced CRA challenges to the rule in both…

Microsoft announced the purchase of 80,000 Tons of Carbon tons of carbon removals from the Northern California-based Western Rivers Conservancy’s Blue Creek Improved Forest Management Project, facilitated by climate solutions provider 3Degrees. Managed by Oregon-based non-profit conservation organization, Western Rivers Conservancy (WRC), the project generates carbon and sustainable timber revenue, rejuvenating old-growth habitat and improving the…

In the latest quarter, sustainable bond issuance reached $234 billion, representing a 20% decline year-over-year and a 19% decrease from the robust Q1 2024 performance. For the first half of 2024, total issuance amounted to $534 billion, down 8% from the same period in 2023, yet still significantly higher than in the second half of…

Market Dynamics Driving ESG Evolution Market forces, including shifting ESG regulations, U.S. anti-ESG sentiment, and increasing competition among ESG service providers, are reshaping asset managers and rating agencies’ ESG integration. BlackRock’s New Approach BlackRock, the world’s largest asset manager, is adjusting its engagement and voting strategies on climate issues. The firm’s CEO, Larry Fink, has moved away…

The number of plastic bags found on UK beaches has plummeted by 80% over the past decade, following the introduction of a mandatory fee for single-use carrier bags. According to the Marine Conservation Society’s (MCS) annual litter survey, volunteers discovered an average of one plastic bag every 100 meters of coastline surveyed last year, compared…

The International Accounting Standards Board (IASB) published a consultation document, proposing eight examples to illustrate how companies apply IFRS Accounting Standards when reporting the effects of climate-related and other uncertainties in their financial statements. The IASB developed these illustrative examples1 in response to strong demand from stakeholders, particularly from investors. They expressed concerns that information…

EFRAG released a report on the early implementation of the European Sustainability Reporting Standards (ESRS) among large EU companies. Supported by Boston Consulting Group (BCG), this study, titled ‘State of Play as of Q2 2024 | Implementation of ESRS,’ highlights preliminary practices and challenges faced by 28 large companies across various sectors. Double Materiality Assessment Companies…

The Global Reporting Initiative (GRI), one of the leading organizations promoting standardized ESG reporting, and the Taskforce on Nature-related Financial Disclosures (TNFD) announced the publication of a joint interoperability mapping resource, a new guide aimed at helping companies looking to report on nature-related and biodiversity risks and impacts using both the GRI Standards and TNFD…

Indian businesses are taking the lead in ESG reporting and prioritizing diversification efforts, outpacing their global counterparts, according to a recent study by DBS Bank. The comprehensive research, titled “Pivotal: How treasury and finance enable a new era of globalisation,” was conducted in partnership with the Financial Times Longitude and surveyed over 570 senior executives…