Bill Gates secures hundreds of millions from U.S. firms for climate fight

(CNBC) Breakthrough Energy, a non-profit founded by Gates in 2016, announced Monday that it has secured investments from Microsoft, BlackRock, General Motors, American Airlines, Boston Consulting Group, Bank of America and ArcelorMittal. The Washington-headquartered firm said the money will be used to fund its “Breakthrough Energy Catalyst,” a project launched earlier this year that’s aiming…

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Tim Cook Faces Surprising Employee Unrest at Apple

(NY Times) Apple, known among its Silicon Valley peers for a secretive corporate culture in which workers are expected to be in lock step with management, is suddenly facing an issue that would have been unthinkable a few years ago: employee unrest. On Friday, Tim Cook, Apple’s chief executive, answered questions from workers in an…

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Gordon Gekko vs. ESG

(GreenBiz) Last week, news circulated that a number of mission-driven companies plan to launch IPOs this fall. And if you’re an investor who pays attention to certain media outlets, you might have gotten the impression these stock-selling charlatans — with their eco sneakers and their hippie yogurt — are out to hoodwink you. Not that…

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Is ESG, Bitcoin Energy Criticism, Fascist?

(Nasdaq) I know, I know, I know. Some of you may think Crazy Uncle Marty’s anti-ESG schtick is getting a bit nauseating. However, as you should have realized by now, I cannot control myself. When I think there is a good point to be made about the subject, I will make it. And that is…

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Sustainable Investing Works: It’s about managing risk, not “goodness”

(Morningstar) The grievances are legion lately: Perceived greenwashing in the fund industry is one. This week’s salvo came from Aswath Damodaran, a well-regarded New York University finance professor, who, in a widely read blog post, denounced environmental, social, and governance investing as “a mistake that will cost companies and investors money, while making the world…

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Most executives think their ESG programs fall short, survey finds

(Reuters) More than half of 530 corporate executives have little or no confidence in the reliability and maturity of their environmental, social and corporate governance (ESG) programs, according to a global survey from corporate governance advocacy non-profit OCEG. The report paints a dim picture of the corporate world’s perception of ESG initiatives, which vary greatly…

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SEC Chief Defends Plan for ESG Disclosure Despite Republican Opposition

(Barron’s) Views differ on what information is financially material for an investment, and it is the Securities and Exchange Commission’s job to draw this line, deciding what companies must disclose, and what they don’t have to. Over the years, the requirements have changed to include risk factors, executive compensation, and other new information. The latest…

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