Articles by Silla Brush, Saijel Kishan and Alastair Marsh

BlackRock Leaves Major Climate Group Amid Wall Street Exodus

BlackRock Inc. is parting ways with one of the world’s biggest climate-investor groups after being targeted by Republican politicians for its efforts on global warming. The money manager has decided to leave the Net Zero Asset Managers initiative it said …

A $24 Billion Fund Puts Its Religious Stamp on Corporate America

Jim Lake, a devout Christian in Washington state, said his religious beliefs have always made him opposed to practices such as abortion, transgender transitions or embryonic stem cell research. But until this past year, it didn’t cross the retiree’s mind …

Fund Opposing DEI-Hiring Goals Targets Nike, Kraft and Autodesk

A new investment fund that plans to oppose corporate DEI hiring goals is taking aim at Nike Inc., Kraft Heinz Co. and Autodesk Inc. Azoria Partners’ fund says it will avoid S&P 500 companies with specific diversity, equity and inclusion …

Wells Fargo Says It’s Quitting Climate-Banking Group

Wells Fargo & Co. said it’s leaving the world’s biggest climate alliance for banks, in the latest sign that Wall Street is breaking away from such groups. The company said in a statement Friday that it ended its membership in …

An ESG Backlash Erupts in Europe on World’s Strictest Rules

For TotalEnergies SE Chief Executive Officer Patrick Pouyanne, the difference in the performance of his company’s stock and that of Exxon Mobil Corp., the largest US producer of oil and gas, is in no small part explained by an acronym: …

Companies Downplaying DEI Executive Pay Goals

A growing number of America’s biggest companies are revising diversity metrics for executive pay, a possible sign that conservative-led attacks on DEI are weighing more heavily on corporate culture. A review of about 1,200 companies found that the proportion of …

BlackRock Gets Legal Warning Over ESG Funds From Mississippi

BlackRock Inc. faces the prospect of being barred from offering securities in Mississippi after state officials accused the investment firm of making “fraudulent” statements regarding its climate strategy. This marks at least the second time BlackRock has faced legal action …

Tennessee Officials Sue BlackRock for ‘Misleading’ ESG Strategy

(Bloomberg) — The state of Tennessee sued BlackRock Inc. for allegedly breaching consumer protection laws by making “misleading” statements about its ESG investment strategy. State Attorney General Jonathan Skrmetti said BlackRock funds that don’t take into account ESG factors are …

New York City Pension Plans Seek to Dismiss Lawsuit Over Fossil Fuel Stakes

New York City pension funds filed a motion to dismiss a lawsuit filed in May that alleged the plans breached their fiduciary duties by selling billions of dollars of fossil fuel assets. The lawsuit was filed by plaintiffs including Americans …

‘Hating ESG’: Advocates Are Looking to Replace the Label

A number of sustainable investing champions say it’s time for the “ESG” label to be shelved and replaced by something less likely to draw attacks from both the political right and left. Robert Eccles, a professor who’s spent the past …