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CalPers Opposes ExxonMobil Board Over Climate Lawsuit Involving Shareholders

Sacramento, California – CalPers, the largest state pension fund in the United States, announced that it will be taking a stance against ExxonMobil in their upcoming annual meeting. The fund plans to oppose the entire board of directors as well as the re-nomination of the company’s CEO due to a climate change-related lawsuit filed by Exxon. The statement released by CalPers on Monday expressed concerns over Exxon’s decision to sue activist investor groups, Follow This …

Pension Power Struggle: Ohio Attorney General Files Lawsuit to Remove STRS Board Members Amid Turbulent Financial Climate

Columbus, Ohio – The State Teachers Retirement System of Ohio is facing a legal battle as Ohio Attorney General Dave Yost filed a lawsuit aiming to remove two board members for breaching their fiduciary duty. Yost alleges that they failed to act in the best financial interest of the pension fund, which oversees $90 billion on behalf of 500,000 teachers and retirees. The lawsuit comes amidst a period of turbulence for the system, with control …

Agency Power Ruling: Impact on Biden Administration, Climate Policy, and Separation of Powers

WASHINGTON, D.C. — The Supreme Court is preparing to hear two cases regarding the future of a cornerstone principle in administrative law known as Chevron deference. This doctrine has been a crucial factor in judicial rulings concerning government actions. The outcome of these cases could have a significant impact on the balance of power between the executive and legislative branches, raising concerns about the potential limitation of a president’s policymaking authority. If the Court rules …

Pension Funds Advised to Oppose Woodside Energy Group’s Climate Strategy

Sydney, Australia – Some of Australia’s largest pension funds are being advised to push back against Woodside Energy Group Ltd.’s climate strategy, raising concerns about the energy producer’s approach to emissions. The Australian Council of Superannuation Investors, representing funds managing about A$1.9 trillion ($1.2 trillion), has cautioned its members that Woodside’s plans are not sufficiently developed, as reported in a document obtained by sources. The move by the Australian Council of Superannuation Investors could potentially …

Health Care Sector’s Contribution to Climate Change Examined in New Study from Brown Researchers

Providence, Rhode Island – A recent study has shed light on the significant impact of the healthcare sector in contributing to the United States’ greenhouse gas emissions, accounting for 8.5% of the total. Researchers at Brown University have highlighted the sector’s role in both fueling climate change and addressing its consequences, emphasizing the urgent need for sustainable practices within healthcare systems worldwide. In a paper published in Current Environmental Health Reports, senior fellow Emily Hough …

Pension Funds in Canada Falling Short on Climate Commitments, New Report Reveals

Montreal, Canada – A recent report by the advocacy group Shift Action for Pension Wealth and Planet Health has shed light on Canada’s largest pension funds’ slow progress in shifting away from fossil fuel investments. The report evaluated 11 of the country’s most significant pension managers against global greenhouse gas emission reduction targets and international best practices. While some improvement has been noted since the previous assessment, the overall pace of progress is deemed insufficient …

Pension Funds Make Progress in Fossil Fuel Exclusions, but Lag Behind U.S. and European Peers in Climate Change Action

Toronto, Canada – In a recent report, Canadian pension funds are increasingly implementing exclusions on oil and gas investments as part of their sustainable finance efforts. SHIFT Action for Pension Wealth and Planet Health (SHIFT) revealed that nearly half of the 11 Canadian pension funds reviewed included partial exclusions on fossil fuels in 2023. However, while there has been progress, the report indicates that Canadian pension managers still lag behind their U.S. and European counterparts …

Category 6 Storm Label Proposed Due to Climate Change Sparks Debate Among Meteorologists

In Miami, Florida, the Saffir-Simpson scale has long been used to measure the intensity of hurricanes. However, as our planet warms, storms are exceeding the once extreme categorization. This has prompted two scientists to propose the addition of a new label – Category 6 – to signify the escalating power of these severe storms. Climate change has undeniably intensified the strongest storms, a trend that Michael Wehner, a senior scientist at the Lawrence Berkeley National …

PROVE IT Act: America’s Bipartisan Leadership in the Global Fight Against Climate Change

Washington, D.C. – When it comes to addressing climate change, there is an opportunity for the United States to take the lead in a way that doesn’t leave the country standing alone in the world while others continue to pollute. The Senate Environment and Public Works Committee recently passed the Providing Reliable, Objective, Verifiable Emissions Intensity and Transparency Act (PROVE IT Act) with bipartisan support. The legislation, co-sponsored by Republican Sen. Kevin Cramer of North …

Pension Funds Used By Wall Street Titans Push ‘Racial Equity’ and Climate Agenda, Report Finds

Columbus, Ohio – A recent report has revealed that pension funds in swing states have been used by Wall Street titans to push for “racial equity” and climate initiatives. The report, released on Monday, highlights the financial ties between major investment firms and political agendas. The findings suggest that powerful Wall Street players are leveraging pension funds to promote their own social and political interests. This has raised concerns about potential conflicts of interest and …