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IEEFA: AIA too important to lag global insurers in coal investment, divestment, and exclusion

IEEFA: AIA too important to lag global insurers in coal investment, divestment, and exclusion

AIA must back their climate pledges

21 December 2020 (IEEFA Asia): Major insurer AIA still holds anywhere between US $4 – 6 billion in coal and coal-fired power assets that if stranded will massively reduce wealth for investors and despite pledging its commitment to three significant global climate accords according to a new report by the Institute for Energy Economics and […]

and December 21, 2020 Read More →

IEEFA U.S.: Fracking companies in Appalachia struggle financially

Turbulence and desperation are roiling the struggling industry

July 17, 2019 (IEEFA)  ̶  Differences among leaders at EQT, the nation’s largest independent producer of natural gas, highlight the dilemma faced by those looking to drill, drill, drill versus those seeking to rely on traditional supply-and-demand strategies. Neither approach offers much promise, according to a briefing note released today by the Institute for Energy […]

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WSJ: ExxonMobil board mulls scrapping Vietnam, Mozambique projects

Wall Street Journal ($): Exxon Mobil Corp.’s remade board of directors is debating whether to continue with several major oil and gas projects as the company reconsiders its investment strategy in a fast-changing energy landscape, according to people familiar with the matter. Members of the board—which includes three directors successfully nominated by an activist investor […]

October 20, 2021 Read More →

Banks using loopholes to dodge pledges to stop funding Arctic drilling

Wall Street Journal ($): Some of the world’s largest banks, including Goldman Sachs Group Inc., HSBC Holdings and BNP Paribas SA pledged in recent years to stop direct financing of Arctic oil exploration. The idea was to choke off money for fossil-fuel extraction in a pristine natural environment. A battle has broken out among investors, […]

October 19, 2021 Read More →

Watchdog: European banks beginning to drop oil and gas clients

Bloomberg ($): European banks are beginning to drop clients that pose a climate risk rather than face the possibility of higher capital requirements, according to the watchdog overseeing the development.  Banks are raising prices, denying loan requests, “de-selecting industries and in some cases clients,” said Jacob Gyntelberg, director of the economic and risk analysis department […]

October 5, 2021 Read More →

Norway fund poised to insist stocks set targets for emission reductions

Bloomberg Green ($): The world’s biggest owner of publicly traded stocks, Norway’s sovereign-wealth fund, is about to get the political go-ahead to insist that all companies in its portfolio have clear targets for cutting CO2 emissions. Norway’s Labor Party, which this month won elections that focused on the country’s fossil-fuel dependence, has made clear it […]

September 27, 2021 Read More →

Chevron prepares to head off challenges at investor presentation

Bloomberg: Chevron Corp. has inked eight deals in little more than two weeks to invest in hydrogen, green jet fuel and renewable natural gas. Amid rising shareholder pressure on climate issues, Chevron is pro-actively forging climate-friendly joint ventures with an array of startups as well as corporate giants that include Caterpillar, and Alphabet’s Google. The […]

September 13, 2021 Read More →

Harvard endowment will stop future investment in fossil fuels

The Harvard Crimson: Following years of public pressure, Harvard said Thursday it would allow its remaining investments in the fossil fuel industry to expire, paving the way for it to eventually divest from the sector. The move marks a stark twist in a decade-long saga that has pitted student activists against University administrators and dominated […]

September 10, 2021 Read More →

Activist fund takes stake in RWE, calls for coal activity separation

Reuters: Activist fund ENKRAFT has taken a stake in RWE (RWEG.DE) and is calling for a separation of the company’s brown coal activities to remove the burden of a legacy business that has weighed on the value of shares in Germany’s largest power producer. ENKRAFT, which has a track record in investing in the renewable […]

September 10, 2021 Read More →

Chevron plans more ambitious climate approach to thwart hedge funds

Wall Street Journal ($): Chevron Corp. CVX +0.03% is preparing to defend itself against a potential challenge from activist investors like the one that roiled Exxon Mobil Corp. XOM -0.38% earlier this year, according to people familiar with the matter. In recent weeks, Chevron executives met with representatives of Engine No. 1, the investment firm […]

September 3, 2021 Read More →

Santos sued by shareholders over fossil expansion despite claims

The Guardian: A shareholder activist group is taking Australian oil company Santos to court over its claims it produces “clean fuel” and plans to reach net zero emissions by 2040. Papers were filed against Santos – Australia’s second largest independent oil company – on Thursday by the Environmental Defenders Officers acting on behalf of the […]

August 26, 2021 Read More →
IEEFA: Months after tumultuous ExxonMobil annual meeting, no substantial change expected

IEEFA: Months after tumultuous ExxonMobil annual meeting, no substantial change expected

Despite pressure, old leadership and old habits haven’t changed at ExxonMobil

The ExxonMobil shareholder meeting this year will go down in the annals of business as either the start of a new era of progress on climate change or evidence of a tired, ineffectual system of shareholder rights that governs U.S. companies.  The jury is out on the long-term impact, but for the moment there has […]

August 6, 2021 Read More →