Saturday, January 28, 2023
  • Submit news
  • Contact
  • DMCA
  • Cookie Privacy
  • Privacy Policy
  • Terms of Use
Oil Market News
  • Home
  • Marketdaily
  • Price
  • crudenow
  • Companies
  • politics
  • Gas
  • investing
  • Stock
  • OPEChot
  • brend
  • ships
Oil Market News
Home Market

What’s next for ESG as BlackRock ups the ante for polluting companies

9 months ago
in Market
What’s next for ESG as BlackRock ups the ante for polluting companies
Share on FacebookShare on Twitter


The world’s largest asset manager wants polluting companies to disclose ‘scope 3’ emissions data.

Latest Oil News

Chevron profits slip as oil and gas prices fall

Chevron profits slip as oil and gas prices fall

January 27, 2023
Big Oil’s cash bonanza | Financial Times

Big Oil’s cash bonanza | Financial Times

January 26, 2023
NYC pension schemes test support for climate action at bank meetings

NYC pension schemes test support for climate action at bank meetings

January 25, 2023
Oilfield services groups cheer ‘structural upcycle’ after highly profitable year

Oilfield services groups cheer ‘structural upcycle’ after highly profitable year

January 24, 2023

The might of ESG investment is again being wielded by fund managers as has cautioned polluting companies to disclose all their emissions data.

BlackRock, the world’s biggest asset manager, wants companies to release what’s known as ‘scope 3’ emissions data – which, specifically, refers to the emissions generated products or services not only its operational footprint.

It would mean, for example, that a fuel company would need to report the emissions created by the end-user as it is consumed, in addition to the emissions generated in the extraction, processing and the transportation of the fuel to market.

This is the latest from BlackRock and chief executive Larry Fink who has in recent months been vocal about ESG (Environmental, social, and governance) issues and specifically climate change.

READ: What does BP and Shell strategy mean for investors?

The investment group cautioned that it could act where there are insufficient disclosures or there is no “credible plan”, by potentially voting against directors they deem as responsible for climate risk oversight.

“We may also support shareholder proposals that we believe address gaps in a company’s approach to climate risk and the energy transition,” BlackRock added.

It comes after major oil companies such as and Shell have launched diversification strategies that seek to cap hydrocarbons business and invest in alternative low (or lower) carbon activities – including renewable power and expansion of electric vehicle charging networks.

Both BP and Shell have set ‘net zero’ emissions goals, rather than set absolute gross decarbonisation targets.

Reacting to Shell’s commentary last week, claiming that its oil production had peaked in 2019 and its diversified investment plan, analysts at Citigroup noted that it offered “no real change to the near-term financial metrics”.

It also questioned the timelines and potential effectiveness of Shell’s strategy.

“Core to the plan is to reduce carbon emissions, ‘in step with society’s progress towards achieving net zero’,” Citi analyst Alastair Syme said in a note.

“The bit about ‘in step’ is a relevant one as it makes the point that the company will not seek to move faster than price policy-makers and consumers are prepared to pay.”

Environmental activists also had something to say regarding Shell’s approach.

Mel Evans, head of Greenpeace UK’s oil campaign, said: “Shell’s grotesque ‘customer first’ strategy seeks to blame customers first for climate change.

“Meanwhile Shell, the powerful oil major, brazenly says it will dodge oil production cuts and will simply let output dwindle. Without commitments to reduce absolute emissions by making actual oil production cuts, this new strategy can’t succeed nor can it be taken seriously.”



www.proactiveinvestors.co.uk

Tags: anteBlackRockcompaniesESGpollutingupsWhats
Previous Post

Nigerians Can Now Sue Shell In The UK For Oil Pollution

Next Post

Europe must get serious about renovating homes to ease energy crisis

Related Posts

Chevron profits slip as oil and gas prices fall

Chevron profits slip as oil and gas prices fall

by Oil Market News
January 27, 2023
0

Chevron announced record earnings for 2022 but its fourth-quarter profits slipped from previous months in a sign that Big Oil’s...

Big Oil’s cash bonanza | Financial Times

Big Oil’s cash bonanza | Financial Times

by Oil Market News
January 26, 2023
0

This article is an on-site version of our Energy Source newsletter. Sign up here to get the newsletter sent straight to...

NYC pension schemes test support for climate action at bank meetings

NYC pension schemes test support for climate action at bank meetings

by Oil Market News
January 25, 2023
0

New York City has filed demands for tougher climate change action from US banks on behalf of retirement schemes worth...

Oilfield services groups cheer ‘structural upcycle’ after highly profitable year

Oilfield services groups cheer ‘structural upcycle’ after highly profitable year

by Oil Market News
January 24, 2023
0

The “Big Three” international oilfield services groups last year registered their most profitable 12 months since the heyday of the...

EU/diesel: loss of Russian imports supportive for independent refiners

EU/diesel: loss of Russian imports supportive for independent refiners

by Oil Market News
January 23, 2023
0

On the whole, the ban on Russian crude oil has worked well. It has lowered revenues for Russia without causing...

Dutch government aims to close Europe’s largest gasfield this year

Dutch government aims to close Europe’s largest gasfield this year

by Oil Market News
January 22, 2023
0

The Netherlands wants to close Europe’s largest gasfield this year because it is “very dangerous” to keep operating it, according...

Next Post
Europe must get serious about renovating homes to ease energy crisis

Europe must get serious about renovating homes to ease energy crisis

Subscribe
Notify of
guest
guest
0 Comments
Inline Feedbacks
View all comments

Trend Oil News

Obasanjo: Oil, gas no longer adequate to sustain Nigeria’s growing population – Daily

Obasanjo: Oil, gas no longer adequate to sustain Nigeria’s growing population – Daily

2 months ago
10 Pro-Life Companies to Invest In

10 Pro-Life Companies to Invest In

3 weeks ago
Closing prices for crude oil, gold and other commodities – KION546

Closing prices for crude oil, gold and other commodities – KION546

3 months ago
These Green Sectors Are Minting Billionaires

These Green Sectors Are Minting Billionaires

9 months ago
Home heating oil, petrol and diesel prices could rise after the crash in the value of

Home heating oil, petrol and diesel prices could rise after the crash in the value of

4 months ago
ADVERTISEMENT
Bob Simpson’s TXO Energy goes public, soars 10% on first trading day

Bob Simpson’s TXO Energy goes public, soars 10% on first trading day

January 27, 2023

Internet of Things-as-a-Service to Enable Improved Opportunities

January 27, 2023

U.S. lawmakers ask Kerry to urge UAE to replace oil boss as COP28 president By

January 27, 2023

White House blasts Big Oil stock buybacks again as Chevron profits double

January 27, 2023

OPEC to Stay the Course on Oil Production Agreement; China’s Reopening Bullish for

January 27, 2023

Trinity To Spud Jacobin Well In Second Quarter Of 2023

January 27, 2023

Crude Oil

German Crude Oil Imports Rose 11% in 2022 As Crude Import Bill Doubles

German Crude Oil Imports Rose 11% in 2022 As Crude Import Bill Doubles

January 27, 2023
Europe Is Diversifying Its Diesel Sources Ahead Of Ban On Russian Fuel

Europe Is Diversifying Its Diesel Sources Ahead Of Ban On Russian Fuel

January 26, 2023
Opinion | Should the Strategic Petroleum Reserve Be Used Now?

Opinion | Should the Strategic Petroleum Reserve Be Used Now?

January 25, 2023
Rising Crude, Oil Products Inventories Weigh On Oil Prices

Rising Crude, Oil Products Inventories Weigh On Oil Prices

January 24, 2023

Investing

U.S. lawmakers ask Kerry to urge UAE to replace oil boss as COP28 president By

U.S. lawmakers ask Kerry to urge UAE to replace oil boss as COP28 president By

January 27, 2023
ESG Investing Fight Is Heating up in Kentucky and Could Cost Taxpayers

ESG Investing Fight Is Heating up in Kentucky and Could Cost Taxpayers

January 26, 2023
Chevron goes big with new $75 billion buyback, surpassing Exxon’s By Investing.com

Chevron goes big with new $75 billion buyback, surpassing Exxon’s By Investing.com

January 25, 2023
Oil falls $2/barrel on economic jitters, U.S. crude stock build By Reuters

Oil falls $2/barrel on economic jitters, U.S. crude stock build By Reuters

January 24, 2023

Market

Chevron profits slip as oil and gas prices fall

Chevron profits slip as oil and gas prices fall

January 27, 2023
Big Oil’s cash bonanza | Financial Times

Big Oil’s cash bonanza | Financial Times

January 26, 2023
NYC pension schemes test support for climate action at bank meetings

NYC pension schemes test support for climate action at bank meetings

January 25, 2023
Oilfield services groups cheer ‘structural upcycle’ after highly profitable year

Oilfield services groups cheer ‘structural upcycle’ after highly profitable year

January 24, 2023

OPEC

OPEC to Stay the Course on Oil Production Agreement; China’s Reopening Bullish for

OPEC to Stay the Course on Oil Production Agreement; China’s Reopening Bullish for

January 27, 2023
Biden vowed to punish Saudis over OPEC cut. That’s no longer the plan

Biden vowed to punish Saudis over OPEC cut. That’s no longer the plan

January 26, 2023
Oil Steadies as Traders Look to China, OPEC for Fresh Triggers

Oil Steadies as Traders Look to China, OPEC for Fresh Triggers

January 25, 2023
FG tasks 2023 OPEC’s President on attracting investments in oil

FG tasks 2023 OPEC’s President on attracting investments in oil

January 24, 2023
  • Submit news
  • Contact
  • DMCA
  • Cookie Privacy
  • Privacy Policy
  • Terms of Use

© 2022 OilMarket.News

No Result
View All Result
  • Home
  • Market
  • Price
  • crude
  • Companies
  • politics
  • Gas
  • investing
  • Stock
  • OPEC
  • brend
  • ships

© 2022 OilMarket.News

wpDiscuz
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.