Finance Media Monitor | 10.13.23

SPOTLIGHT

It’s Friday the thirteenth and California’s pension funds’ scary Big Oil investments just got exposed. After launching one of the most prominent lawsuits against Big Oil in the nation, joining international calls to end fossil fuels, and passing global-leading climate financial risk and emissions disclosure requirements, new analysis by Stand.earth and Climate Safe Pensions Network found CalSTRS and CalPERS collectively have over $4.3 billion invested in Chevron, BP, ExxonMobil, ConocoPhillips, and Shell—the same five oil companies named in the state’s lawsuit. The nation’s two largest state pension funds have thus far resisted divestment pressure, defending the investments by claiming that removing funds would undermine their influence and ability to ‘affect positive change’ at these corporations. Picking the right Big Oil exorcists for the CalPers chief investment officer vacancy following the incumbent’s resignation after just 18 months could be critical to correcting this conflict.

NEWS

OPINION

OPPOSITION

SOCIAL 

  • Right Side of History shared a document: New Paper Just Published on How to Sneakily Coerce Companies to Adopt ESG Principles by Tricking Lenders Into Assuming All Companies are on Board with ESG, Causing Them to Increase Interest Rates on All Borrowers – This Will Result in Much Higher Prices for Consumers
  • Old Glory Bank shared a video: Customers come to Old Glory Bank because of what we stand for. They love us for our technology. Member FDIC. Hear the entire interview at https://youtube.com/watch?v=LdOZGiegvu0. Learn more about America’s first anti-cancel-culture bank at http://oldglorybank.com. 

DATES

  • October 17: Orbitas The High Cost of Ignoring Scope 3 Deforestation Emissions Webinar. Register here. 
  • October 26: Ceres Charting Progress Webinar: Regulator Actions on Climate Financial Risks. Register here. 
  • October 31: Ceres A Guide for Businesses: California’s New Climate Disclosure Legislation Webinar. Register here.