Tag: climate
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SEC ends defense of climate reporting rules
The Securities and Exchange Commission (SEC) announced last week that it voted to end its defense of the Biden-era corporate emissions reporting rules. The decision indicates the majority of current SEC commissioners do not support the implementation of the rules. Acting SEC Chair Mark Uyeda said the commission wanted to end its “defense of the…
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Banks exit net-zero alliance
What’s the story? Three major banks announced over the last several days that they are leaving the Net-Zero Banking Alliance. Morgan Stanley, Citigroup, and Bank of America indicated they would exit the group. Why does it matter? The announcements follow similar actions from Goldman Sachs and Wells Fargo last month. They are part of a…
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BlackRock leaves net-zero alliance, NZAM suspends operations
BlackRock—the world’s largest asset manager—announced Jan. 9 that it is leaving the Net-Zero Asset Managers Initiative (NZAM), a United Nations-affiliated group promoting emission reductions. NZAM announced Jan. 13 that it is suspending operations and removing the commitment statement and list of signatories from its website. The group said in a statement it will reevaluate its…
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Companies prepare for global climate reporting standards
The SEC has paused enforcement of its rule requiring corporate climate disclosures, but companies are still preparing to comply with ESG standards, especially from the European Union. Some companies are already starting to report ESG data in response to uncertainty over when regulations will become enforceable, according to a recent Fortune piece. Ballotpedia tracks support…
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Federal judges block greenhouse gas emissions rule
Two federal judges in Texas and Kentucky ruled against the Federal Highway Administration’s (FHWA) greenhouse gas emissions rule, which would require states to set goals to reduce vehicle emissions. Judge James Wesley Hendrix of the United States District Court for the Northern District of Texas ruled on March 27, 2024, that the FHWA did not…