.png?width=200&height=78&name=CH%20Diligence%20(thicker%20line-white).png "CH Diligence (thicker line-white)")
BNN Bloomberg: There’s now an overwhelming consensus behind zeroing-out emissions to slow down global warming. Nine of the 10 largest economies will soon align behind this goal, once President Joe Biden resets U.S. climate policy. The single-largest shareholder on the planet, BlackRock Inc., has likewise put its $8.7 trillion heft behind a powerful message to chief executives everywhere: The decades ahead will be defined by minimizing emissions, requiring an overhaul to everyone’s business models.
Market Watch: Advocates say the giant money manager could be more aggressive.
BNN Bloomberg: Debt that rewards borrowers for hitting environmental or social targets is the next frontier for sustainable finance, according to JPMorgan Chase & Co, which predicts an issuance surge this year.
BNN Bloomberg: Blackstone Group Inc. plans to make diversity the centerpiece of an expanded student entrepreneurship initiative.
Wall Street Journal: Current and former employees of Pacific Investment Management Co. wrote to the investment firm’s senior executives alleging a pattern of abusive and discriminatory behavior toward women and urging them to take steps to fix gaps in pay and promotions. [Full article available to Wall Street Journal subscribers.]
IPE: BlackRock will be publishing a temperature alignment metric for public equity and bond funds, where market data is sufficiently reliable, as part of a series of actions to help investors with their climate change-related goals, it disclosed today.
Wall Street Journal: Five of the largest U.S. banks publicly committed to mandating a diverse slate of applicants when hiring employees, part of a push to diversify an industry whose top ranks remain largely white and male. [Full article available to Wall Street Journal subscribers.]
Bloomberg: Three of New York City’s five public employee pension funds are divesting $4 billion from securities related to fossil-fuel companies. [Full article available to Bloomberg subscribers.]
Los Angeles Times: Leon Black, who founded Apollo Global Management Inc. three decades ago in the aftermath of one scandal, is retiring as chief executive in the aftermath of another, this one involving the notorious sex offender Jeffrey Epstein.
Reuters: The suit targets 21 companies including BP PLC, Chevron Corp, Exxon Mobil Corp and Royal Dutch Shell PLC.
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