Saudi Aramco is under United Nations investigation for potential human rights violations linked to climate change. The UN’s human rights and transnational corporates working group is examining allegations against the world’s biggest fossil-fuel producer, claiming Aramco has violated Paris Agreement goals in ways harmful to humanity. This follows a trend of litigation claiming climate harm, with the number of climate lawsuits rising to 2,341 in May 2023 from 190 a year earlier. While the UN has no legal authority to force Aramco to alter its business practices, this probe could pave the way for other parties to pursue litigation.
- AP News: Workers exposed to extreme heat have no consistent protection in the US | Climate activists target jets, yachts and golf in a string of global protests against luxury
- Bloomberg: Saudi Aramco Targeted in UN Human Rights Probe Tied to Climate Change | Markets Ready for Swings After High-Rates Mantra of Jackson Hole
- Bloomberg Law: Ramaswamy’s Strive Firm Parts Ways With Top Lawyer Amid Lawsuits | Hawaii Munis Plunge in Latest Investor Warning on Climate Risk
- CNBC: ‘Not just money and math’: Young people are willing to sacrifice returns for ESG | The word ‘ESG’ is vanishing from earnings calls. Here’s what companies are pitching instead
- CNN Business: Federal Reserve Chair Jerome Powell hints at more bad news for borrowers
- Financial Times: Investors warn ‘fluffy’ ESG metrics are being gamed to boost bonuses | BlackRock hit by backlash after fall in environmental and social votes | From biotech booster to Republican contender: the rise of Vivek Ramaswamy
- Forbes: Report Reveals ESG Supports’ Campaign To Influence Regulators’
- Fortune: Vivek Ramaswamy, millennial entrepreneur, takes Iowa GOP by storm: ‘I like that he’s young and energetic, and wants to tear the whole thing down’ | Extreme heat forces authorities to mull new worker protections
- Grist: The true cost of climate pollution? 44% of corporate profits.
- The Hill: Worst corporate polluters hide in regulatory ‘darkness,’ study finds
- HRD America: Target faces backlash: Should employers curtail their DEI programs?
- Indianapolis Business Journal: Law firms see growing demand for advice on environmental, social investing issues
- Investopedia: US Companies Do Greenhouse Gas Damage Equal To 18.5% Of Profits, Study Shows
- NBC News: With boos, a pushback on climate denialism at the first GOP debate
- The New Yorker: Vivek Ramaswamy Is Not the Next Trump
- NPR: Fed Chair Jerome Powell warns the fight against inflation is far from over
- The Philadelphia Inquirer: Home insurance is getting more expensive. Extreme weather and rising home costs help explain why.
- Politico: ‘Big possibility’: Ramaswamy’s debate performance fuels veepstakes talk
- Reinsurance News: Low flood insurance penetration in western US states leaves residents facing significant financial risk
- Reuters: Should professionals trust generative AI to solve challenges in ESG? | UN rights experts raise climate change concerns with Saudi Aramco
- The Wall Street Journal: Are We Ready for a $100 Billion Catastrophe? How About $200 Billion?
- The Conversation: Business schools must step up on sustainable investing education
- The Guardian: Vivek Ramaswamy is America’s demagogue-in-waiting
- The Hill: A tale of two Ramaswamys
- National Catholic Reporter: Leonard Leo: Judicial activist and aspiring plutocrat
- Sacramento Business Journal: Opinion: How to restore California’s home insurance market
- The Daily Caller: Security Throws Climate Protesters To The Ground At Jackson Hole Fed Meeting
- Fox Business: Is BlackRock moving away from ESG?
- RealClearMarkets: Only a Matter of Time Until ESG Movement Will RIP
- Linda Grasso shared a graphic: ESG is a growing concern for private investors. As data and visibility improve and regulation becomes more refined, investors can expect increased scrutiny around sustainability targets.
- Positive Money US shared a link: BREAKING: over 70 organizations sent a letter to the @federalreserve & central bankers attending this year’s Jackson Hole Economic Policy Symposium. The ask is clear: ramp up action to address climate-related financial risks. #JacksonHole2023