Category Archives: ESG

Will More Money Managers Start Voting Shares Based on Climate Issues? Fidelity International Gets in the Game

In the wake of Engine No.1’s successful effort to elect more climate-friendly directors at Exxon and the increasingly aggressive action by BlackRock to take climate into account in its investment management decisions, the whole world is watching for further evidence of capitalism’s efforts to save the world from, well, capitalism.

The latest news is from Fidelity International (not to be confused with Fidelity Management and Research),… More

Massachusetts Claims Against ExxonMobil Survive — Wave of the Future or Litigation Sideshow?

This week, Judge Karen Green denied Exxon Mobil’s motion to dismiss claims brought by Massachusetts under its Consumer Protection Act. The complaint alleges that Exxon Mobil both mislead Massachusetts investors in its marketing to them of Exxon Mobil securities and mislead Massachusetts consumers in its marketing of its products to those consumers.  Judge Green rejected Exxon Mobil’s arguments that it was not subject to jurisdiction in Massachusetts with respect to these claims. … More

President Biden’s “Climate-Related Financial Risk” Executive Order Pushes Forward on the Administration’s ESG Commitments

On May 20, 2021, President Biden signed an Executive Order to address predicted financial instability in the federal government as a result of climate change. This Executive Order showcases a dramatic change in how the Biden Administration’s stance towards climate-finance and environmental, social, and governance (ESG)-based investments will differ from the previous administration.

The Executive Order, titled “Climate-Related Financial Risk” seeks to “bolster the resilience of our rural and urban communities,… More