Green Lights March 22: Top stories this week
Green Lights March 22: Top stories this week
Don't miss a single story of the best from Callaway Climate Insights.
. . . . Welcome back to Green Lights. Here’s our weekly roundup of the best of Callaway Climate Insights. This week, David Callaway hones in on reports that a tiny British hedge fund activist plans a proxy fight with the world’s largest fund manager over ESG, while Mark Hulbert writes that shareholder proposals benefit ESG scores. But there’s a catch. Here are the highlights in a simple and convenient format that makes it easy for our readers. It’s also easy to subscribe.
. . . . David Callaway notes that only two weeks after the most sophisticated satellite to detect methane gas leaks was placed in orbit, the European Union said it plans to use advanced data on methane to target countries and companies who are the worst polluters, and stop buying energy from them. With methane accounting for about a quarter of all climate change, this data and targeted follow-up could have a real impact on reducing emissions quickly. Investors will soon be tracking this stuff themselves if they aren’t already.
. . . . Proxy season begins on Wall Street this month, and after two years of rough markets and targeted campaigns against sustainability, a sharp reduction in climate proposals is expected. But Mark Hulbert, citing new research, writes that companies pushed by shareholders to better address their climate efforts actually improve their ESG scores, though not always their financial performance.
. . . . The next step in embattled Brazilian meat giant JBS’s campaign to sell shares on the New York Stock Exchange will come next week after its earnings, when it files a registration statement that will likely delay the IPO until later this year, if at all, writes Michael Molinski. Complaints about greenwashing from shareholder activists, regulators and now some lawsuits have caused JBS to delay its plans and may scuttle the sale entirely if investor demand for its shares doesn’t materialize soon.
. . . . Do you have magic balls? Well, if you’re an electricity transmission company, it seems you should. Matthew Diebel writes in his insights this week about a new technology out of Norway that allows grids to be much more efficient in distributing energy, something that’s much needed as renewables grow.
. . . . Not even at the beach: There’s no escaping the deadly heatwave scorching Brazil. Rio de Janeiro’s heat index set a new record Monday, hitting 144.1°F, the highest in a decade, according to weather officials. Above, Ipanema beach.
. . . A tiny British hedge fund activist plans a proxy fight with the world’s largest fund manager over ESG, says David Callaway. Back in Old Blighty for a spell and almost the first headline I saw trumpeted another attack on BlackRock and its disappearing ESG campaign. Bluebell Capital, a tiny British hedge fund activist, reportedly plans to take a shot next month at the world’s largest asset manager ahead of its annual shareholders meeting in late May.
More greenery . . . .
Earth Hour is Saturday night: Dim the lights, take a walk, get your camera, let’s do something together (earthhour.org)
The power mix: Nations Pledge to Boost Nuclear Power to Fight Climate Change (Voice of America)
Thanks, but we already knew: Experts warn climate change is making your allergies worse (Scripps News)
Location, location, location: Climate Change and Uninsurable Homes Make a New Housing Bubble (Bloomberg)
More on the cocoa catastrophe: Easter eggs costs rise as climate change hits crops (BBC)