Tag: Ceres

First climate guidance developed for oil and gas merger and acquisition transactions

Stuart Mitchell

A new report published today by Environmental Defense Fund (EDF) and Ceres outlines the first-ever climate-related guidance for oil and gas companies entering merger and acquisition transactions.  As shown in EDF’s Transferred Emissions report, oil and gas industry merger and acquisition transactions (M&A), while a routine part of business, are a significant source of climate risk. Whether intentional or not, the majority of oil and gas mergers and acquisition deals from 2017 to 2021 relieved the seller of climate responsibilities without requiring the buyer to uphold the same climate standards.   “It’s…

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New Research Shows Legislation to Boycott ESG May Cost State Taxpayers up to $700 Million in Excess Payments

Stuart Mitchell

As several states consider new anti-sustainable investing initiatives, new analysis shows taxpayers in six states could have been on the hook for up to $700 million in excess interest payments, if restrictions on sustainable investing had been in place. State officials and state legislatures have either passed or will consider bills and initiatives based on a piece of model legislation developed by the American Legislative Exchange Council (ALEC), part of a coordinated conservative effort to prop up the fossil fuel industry while putting retirement nest-eggs at risk.    “The firefighters’, school…

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Ceres presses for more ambitious emissions standards

Stuart Mitchell

The U.S. Environmental Protection Agency acted to reduce dangerous smog-forming pollutants from trucks, issuing a rule targeting nitrogen oxide (NOx) emissions from heavy-duty vehicles. However, the final rule will not be enough to properly address this pollution in a timely manner, said Zach Friedman, director of federal policy at Ceres. The EPA opted today for the less ambitious of its proposed NOx standards and delayed the proposal of greenhouse gas emission standards for medium- and heavy-duty trucks until 2023. Heavy-duty vehicles are the largest source of greenhouse gas and NOx…

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California Scoping Plan is a vital blueprint for building a more just and equitable net-zero emissions economy says Ceres

Stuart Mitchell

Ceres joins major U.S. companies in welcoming the California Air Resource Board’s adoption of its 2022 Climate Change Scoping Plan, praising it as an essential blueprint to keep California on track toward a more just and equitable, net zero emissions economy.   “We commend California for acting today to adopt a plan that will achieve the state’s ambitious climate targets,” said Alli Gold Roberts, senior director, state policy, at Ceres. “California has long been a climate leader, but now is not the time to rest on its laurels. Given the…

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Ceres welcomes the U.S. Department of Labor’s adoption of a new rule allowing climate-aligned funds in 401(k)s

Stuart Mitchell

Ceres applauds the U.S. Department of Labor Secretary Marty Walsh and the agency on its adoption of a new rule—Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights—that would allow climate-aligned funds in 401(k) plans.  “This rule is an important step towards safeguarding American workers’ retirement savings from the financial risks of climate change,“ said Steven M. Rothstein, Managing Director of the Ceres Accelerator for Sustainable Capital Markets at Ceres. “This rule removes restrictions imposed during the previous administration that made it difficult for 401(k) and other retirement…

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