ESG

A coalition of investors wielding a combined asset value exceeding $1 trillion has made a resounding call to the International Sustainability Standards Board (ISSB), urging it to forge global reporting standards for companies to disclose information related to human capital and human rights. The collective appeal comes at a pivotal juncture as the world grapples with defining the parameters of responsible business practices amid evolving global challenges.

As Two Chevron LNG plants plan to go on strike at the beginning of next month, gas prices in Europe spike which may be foretelling of rising global LNG prices.

The European Securities and Markets Authority (ESMA) has unveiled an insightful report that sheds light on the growing issue of "greenwashing" within the financial sector. This initiative aims to address the rising concerns related to misleading sustainability claims, particularly as the demand for environmental, social, and governance (ESG) products continues to surge across the European Union's financial markets.

A coalition of environmental advocacy groups is exerting pressure on U.S. securities regulators to block the New York share listing of JBS SA, the world's largest meatpacker, over concerns related to deforestation, climate change, and other environmental issues. The Brazilian company aims to leverage a U.S. listing to attract a wider investor base, thereby gaining access to more cost-effective capital.

The European Supervisory Authorities (ESAs), consisting of the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA), and the European Securities and Markets Authority (ESMA), have taken a significant step towards combatting greenwashing in the financial sector. Their recent Progress Reports on Greenwashing have introduced a shared high-level understanding of the phenomenon, applicable to participants in various financial sectors including banking, insurance, pensions, and financial markets.

A recent global CEO survey conducted by IBM has highlighted a significant increase in the practice of tying executive compensation to Environmental, Social, and Governance (ESG) goals. The survey, titled “CEO decision-making in the age of AI,” was conducted by the IBM Institute for Business Value (IBV) in collaboration with Oxford Economics. It involved interviews with 3,000 CEOs across more than 30 countries and 24 industries, shedding light on shifting perspectives, priorities, and challenges faced by top executives.

State District Judge Kathy Seeley ruled on Monday that Montana must take stronger actions to safeguard its environment and residents against the impacts of climate change. The landmark ruling, prompted by a group of determined youth plaintiffs, invoked the state's constitutional right to a clean environment as a driving force behind the decision.