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…
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…
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;…
BlackRock announced that it has decided to leave the Net Zero Asset Managers (NZAM) initiative, a major multi-trillion dollar group of investment managers committed to supporting the goal of net zero greenhouse gas emissions by 2050, marking a significant symbolic victory for anti-ESG politicians who had been threatening the investment giant over its participation in the coalition. Despite exiting the…