Shell’s scope 3 emissions face scrutiny in fractious AGM
Shell's 2023 AGM drew focus on the oil giant's energy transition strategy but shareholders rejected a resolution demanding clearer commitments for Scope 3 emission targets.
Divestment
Smoke and mirrors: Listed firms fail to meet 1.5C target
"Smoke and mirrors: 83% of listed firms fail to meet 1.5C target
Nazmeera Moola: net zero without government policy ‘woefully naïve’
Ninety One’s head of sustainability speaks to Net Zero Investor on both the opportunities and limitations for asset managers when combating emissions
Allianz: Forget ‘generous’ pay packages if net zero targets are missed
Allianz GI plans to vote against any pay package if a company does not have a clear path towards net zero
PFZW makes €300m divestment from oil and gas firms
Dutch pension fund PFZW has divested from 78 oil and gas companies as part of a two-year programme focused on high-emitting industries.
Norway’s wealth fund ‘has no exposure left’ in Adani Group
Norges Bank Investment Management’s head of ESG risk monitoring confirmed that the fund has fully divested from the Indian conglomerate due to climate risks.
Kentucky threatens to divest from 11 financial giants
The bluegrass state is the latest to use legal moves as part of the Republican anti-ESG backlash in the US.
UN PRI mounts defence of embattled ESG
Meeting in Barcelona for its first in-person conference in three years, the organisation stressed that ESG had moved from ‘niche to mainstream’.
PAAO progress report highlights value of commitment over quick fixes
Prolonged engagement activities must run parallel to decisive action, inaugural progress report from asset owner body urges.
Norway’s $1.19trn fund issues three-year climate action plan
Sovereign pension fund executives say they need to see tangible evidence at company level of action being taken.
Princeton endowment to divest from fossil fuel companies
The university’s $37.7bn endowment fund seeks to reduce the impact of fossil fuels on its investment strategy.
In conversation with LGIM’s head of climate solutions
Nick Stansbury sees evidence of optimism but argues a drastic acceleration of capital allocation is required to create a net-zero world.