OPINION: Blaming banks for the environment is not good business
We are entering a new era of environmental enmity. A time when environmental exhortations supersede almost anything else. A time when impolitic words, deeds or decisions by financial institutions have outsized social consequences. And the least imprecision on climate or the environment could imperil positive economic performance. In the pervasive context of climate change, environmental activists are working to penalize banks for doing their core business – lending money.
In November 2022, the SEC fined Goldman Sachs Investment Advisor $4 million for failing to follow its policies and procedures on ESG investments.In October 2022, the U.K.'s Advertising Authority banned HSBC from advertising certain investments claiming they could mislead consumers. But tactics have been shifting in recent years. Class-action lawsuits, proxy battles, shareholder actions and intensive media campaigns are now quite common.
In trying to shift the tenor from sustainable to sinister, activists miss the larger point. Financial institutions have embraced environmental sustainability in a big way just on their own terms, committing billions to reduce their credit exposure to oil and gas and comply with international conventions like the Paris accord.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Raquel Leviss Called Out by Andy Cohen for 'Blaming' Affair on Ariana During Vanderpump Rules ReunionAs the Vanderpump Rules reunion continues, Raquel admits she and Tom planned to lie to Ariana about the length of their affair during a one-on-one with Andy ... while Sandoval cusses out a producer for not giving the couple space.
Weiterlesen »
Blaming prior administration, Alameda DA dismisses 2 of 3 murder charges against Oakland manDelonzo Logwood was the subject of a controversial plea deal rejected at the last minute by the same judge who agreed to dismiss the charges Wednesday morning.
Weiterlesen »
The good guys won. This N.J. jewel is safe. | NewsletterHere are the most popular stories from this week's Opinion section
Weiterlesen »
Local Opinion: Best and worst: a tale of two ERs'The passionless, almost desperate Third World-like scene at the first hospital revealed a system already overwhelmed. What was behind the delays in serving patients?'
Weiterlesen »
Opinion: My desire to study psychology and become a licensed social worker eclipsed my fearsI graduated with a Bachelor of Arts in psychology this month and I will continue my preparation for a master’s degree in social work.
Weiterlesen »
We must defund animal cruelty in Pennsylvania | OpinionRecords illustrate that over 1,100 of these dogs and cats were subjected to significant pain and distress.
Weiterlesen »