Railpen and RLAM say regulation alone won’t give investors full view of companies’ cyber efforts. New stewardship guidance published by UK pension fund Railpen and Royal London Asset Management (RLAM) said asset owners and managers should do more to identify and engage with portfolio companies’ facing high levels of exposure to cyber risk. They should assess their baseline approach to…
McDonald’s Retires DEI Goal Setting
McDonald’s announced a series of significant changes to its social goals, including the retirement of its representation goal-setting, and ending its supply chain Mutual Commitment to Diversity, Equity and Inclusion (MCDEI) pledge, which included commitments by participating suppliers such as the implementation of a DEI strategy. In a letter to McDonald’s owners, operators, employees and suppliers, however, the company reiterated…
U.S. Allocates $6 Billion Tax Credits to Support Clean Energy, Industrial Decarbonization Projects
The U.S. Internal Revenue Service (IRS) announced the allocation of $6 billion in tax credits to more than 140 projects aimed at funding infrastructure projects that add to U.S. clean energy and critical materials production and industrial decarbonization capacity. The new allocations are funded by the Inflation Reduction Act (IRA), and are the second round of IRA tax credits being…
ESG Today: Week in Review
This week in ESG news: JPMorgan, Morgan Stanley complete exit of major U.S. banks from net zero coalition; Net Zero finance umbrella group shifts focus after banks leave; process launched to expand, simplify EU Taxonomy; SBTi appoints new CEO; Biden bans offshore drilling across major portion of U.S. coasts; shareholders target Shell over plans to grow LNG while cutting emissions;…