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, announced that it will suspend its primary activities, as it moves to adapt to a changing political and regulatory environment. The move follows an announcement by BlackRock, the largest global investment management…
EU banking supervisor The European Banking Authority (EBA) announced the release of its final Guidelines on the management of ESG risks, setting out requirements for banks to identify, measure manage, and monitor ESG risks, and detailing requirements for banks’ plans to monitor and address the financial impact of risks, including those stemming from the EU’s transition to climate neutrality by 2050….
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…