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Pressure on creatives: PR, advertising firms targeted by fossil fuel divestment movement. Stephen Woodford, CEO of the Advertising Association in the United Kingdom, believes it therefore is becoming increasingly untenable for advertising, PR and lobbying firms to engage in blatant greenwashing on behalf of fossil fuel clients. "I
Pence was speaking at an oil and gas conference where executives are being asked tough questions by investors looking to decarbonize their portfolios. Profit maximization is still the end goal, so sustainable investors need to expect greenwashing and do their homework before buying in.
Our $523-billion national pension manager is making big promises to decarbonize its portfolio by making large investments in climate solutions, pledging to report its absolute emissions, and using its influence and capital to help transition high-carbon industries. .
This week in ESG news: 100% of large companies expect to be required to report on sustainability, but less than a third are ready for ESG data assurance, KPMG finds; Microsoft buys nearly 1 million tons of nature-based carbon removal credits; BlackRock launches new suite of low carbon transition ETFs; GRI launches standards to report on company impact (..)
Most of this new capacity will be directed toward decarbonizing industrial emitters such as cement and petrochemicals, and the power sector. The increased scrutiny over greenwashing is necessary, and will provoke the market to favor substance over style. The divestment movement will wane. Carbon – Reforms Are Coming.
And the mayors of 12 cities — representing 36 million residents — announced their plans to divest from fossil fuels. While I am grateful for every company that commits to taking practical, meaningful, un-greenwashed action, the common thread of the visions advanced above is that they set the bar higher — even if just a little bit.
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