Heroes & zeros: Kaiser Permanente and Anadarko Petroleum
Posted April 8, 2015
Sun shines on Kaiser Permanente, while Anadarko Petroleum pays big penalty for oil spills & other environmental degredation.
Hero: Kaiser Permanente
Health care conglomerate Kaiser Permanente announced an ambitious clean energy shift in February that will ensure 50 per cent of electricity used at its California facilities comes from renewable energy. The Oakland, California-based company – the largest managed care organization in the United States – has signed three 20-year solar and wind energy deals that will reduce its carbon emissions by an estimated 30 per cent.Continue Reading...
Should provinces take the lead in putting a price on carbon?
Posted April 7, 2015
A new report from Canada’s EcoFiscal Commission certainly thinks so.
Each of Canada’s provinces should move forward with carbon-pricing schemes as soon as possible, says a new report by Canada’s EcoFiscal Commission called The Way Forward. The report, released today, comes as Quebec prepares to host a provincial-territorial summit on climate change in Quebec City next weekend that is likely to bolster carbon-pricing efforts across the country.Continue Reading...
How to make a killing shorting coal companies
Posted April 1, 2015
Robert Litterman is proving money can be made buying into the unburnable carbon thesis.
For a company infamously described as "a great Vampire squid wrapped around the face of humanity,” Goldman Sachs has produced a remarkable number of high-profile alumni committed to combatting the collective threat of climate change.
Henry Paulson, the former Goldman Sachs Group chief executive and financial crisis-era treasury secretary, spearheaded a report last year called “Risky Business” in an attempt to convince investors that climate change is bad for their bottom line. One of the advisors listed on the report? Former Goldman co-chairman and Clinton treasury secretary Robert Rubin. Meanwhile, another Goldman alumnus has developed into one of the most respected voices on climate investment risk: Robert Litterman.Continue Reading...
Should a Thai oil company be allowed to issue a green bond?
Posted March 9, 2015
Bangkchak Petroleum’s rollout of a green bond highlights the growing pains being experienced in the nascent industry.
Last Tuesday, the Bangchak Petroleum Public Company Limited released its first green bond (subscription) into the marketplace. The majority state-owned company saw its ฿3 billion ($92 million USD) bond issue snapped up by six regional insurance companies that included Bangkok Life Assurance and Ocean Life Insurance. While green bond announcements like these have become much more prevalent over the past year, there was one main difference: it’s the first corporate green bond issued by an oil company.Continue Reading...
Blackrock doubles down on impact investing
Posted February 10, 2015
Is the world’s largest asset manager embracing impact investing a turning point for the market?
It’s a sign of growing investor interest in responsible investing: Blackrock Inc., the world’s largest asset manager with over $4.5 trillion in assets under management, has announced plans for a new impact investing initiative.
Billed as an attempt to unify the firm’s social and environmental investment offerings, Blackrock Impact will offer a combination of existing and new financial products geared toward tackling social problems, the company announced on Monday. Spearheading this initiative is Deborah Winshel, previously the president and CEO of The Robin Hood Foundation, a charitable organization dedicated to ending poverty in New York City.Continue Reading...