Published: Feb. 8, 2024 at 6:41 a.m. ET By Christian Moess Laursen One of the largest pension funds in the Netherlands, PFZW, has sold all of its stakes in Shell, BP and TotalEnergies, saying they aren’t investing fast enough in the switch from fossil to low-carbon fuel. PFZW–which managed around $256 billion at the end
A pair of activist investors have pulled their request for shareholder votes on climate-related proposals after ExxonMobil sued to keep them off the ballot at the company’s upcoming meeting. But while Arjuna Capital and the environmental group Follow This say they will not refile the proposals, Exxon still wants a U.S. court in Texas to
As part of its strategy to expand into the offshore wind energy sector and other non-shipping businesses, Mitsui O.S.K. Lines has agreed to acquire a majority of the outstanding shares of Hokutaku Co., Japan’s largest wind turbine maintenance company. The acquisition represents an expansion of a relationship between the companies that also includes a wind
Brian Armstrong, chief executive officer of Coinbase Global Inc., speaks during the Messari Mainnet summit in New York, on Thursday, Sept. 21, 2023. Michael Nagle | Bloomberg | Getty Images While custody revenue presents a big growth opportunity for Coinbase in the near term, some industry analysts are concerned that the company’s core transaction business
Do well by doing good? Don’t count on it. Funds that invest using environmental, social, and governance, or ESG, criteria underperformed for a second consecutive year. According to data from Morningstar Direct, sustainable U.S. equity funds were up an average 21.6%, including dividends, through Dec. 31, trailing the S&P 500 total returns index by about
One fund to solve all your problems—it’s the dream of every investor who wants the simple life. But for all except aggressive investors with 100% in stocks, it was largely impossible until recently, with interest rates close to 0% before 2022, which rendered the bond portion of any balanced or allocation fund invested in both
Here’s the state of play globally for crypto regulation and enforcement in 2023 — and a look at what to expect in 2024. The U.S. has proven to be one of the most active enforcers of penalties and legal action against crypto companies this year, as authorities looked to counter bad practices in the industry
LG Chem officials announced last week the company’s plan to invest approximately $3.2 billion to establish a new cathode manufacturing facility in Clarksville. The plant will support the electric vehicle battery value-chain in the U.S. LG Chem’s anticipated investment of approximately $3.2 billion represents the single largest announced foreign direct investment in Tennessee’s history. The
But even as prices swell, the sector’s reputation has struggled to regain ground after names virtually synonymous with bitcoin have both been found guilty of crimes directly related to their multibillion-dollar crypto empires. For years, Binance’s Changpeng Zhao and FTX’s Sam Bankman-Fried preached the power of decentralized, digital currencies to the masses. Both were bitcoin