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Companies Xcel Energy Inc FollowSept 29 (Reuters) - More big U.S. companies have tied their CEO pay to climate goals but few give executives much incentive to make significant emissions cuts, a new study shows. Only four other companies tied their executive pay to climate metrics, though they were not as strict about reducing emissions, As You Sow found. Register now for FREE unlimited access to Reuters.com RegisterSome companies may only be trying to look good to investors with vague wording in securities filings about making progress toward cutting emissions, study authors said. As You Sow's study examined all the 47 U.S. companies targeted by the Climate Action 100+ global investor initiative to reduce industrial greenhouse gas emissions. Among the 47, more than half did not directly tie their pay to climate actions, the study shows.

Sept 28 (Reuters) - Texas Attorney General Ken Paxton has joined a multi-state investigation into whether S&P Global Inc (SPGI.N) violated consumer protection laws over its use of environmental, social and governance (ESG) factors in credit ratings. The ESG credit indicators, ESG scores, and ESG evaluations that S&P publishes "appear to politicize what should be a purely financial decision", Paxton said in a statement on Wednesday. The probe is being led by Missouri and underscores a push by Republican-led states against what they see as a "woke" bias at financial companies. Register now for FREE unlimited access to Reuters.com RegisterS&P Global did not immediately respond to a request for comment. Interest in ESG investing has exploded in recent years, prompting ratings agencies to come up with new ways to assess how companies fare on ESG factors.

REUTERS/David GraySummarySummary Companies Net zero push stokes hopes for offshore wind projectsVictoria state aims for 9 GW offshore wind by 2040Sector needs new regulations, to lure technology suppliersIndustry also set to face environmental, landowner concernsMELBOURNE, Sept 27 (Reuters) - Under a new government, Australia is shaping up to be the next big market for offshore wind developers, attracting interest from the likes of Shell, Denmark's Orsted and Norway's Equinor. To many in the industry, Australia could well become the next boom market for offshore wind. Community concerns about the impact of wind turbines on bird life, such as orange-bellied parrots, and sealife, such as fish and whales, are also expected. "There's only a limited number of vessels in the world that can be used for erecting turbines offshore. Victoria state's Gippsland coast first in lineThe state, which has spearheaded the country's offshore wind push, plans to procure 2 gigawatts (GW) of offshore capacity with supply due by 2032, enough to power 1.5 million homes.

The European Commission is set to publish next week a plan to "digitalise" Europe's energy system, as well as laying out new emergency measures to tame sky-high gas prices and help cash-strapped energy firms this winter. The draft plan, seen by Reuters, said electricity grid investments of 584 billion euros are needed until 2030, to support the planned rapid uptake of electric vehicles, renewable energy and heat pumps, and shift away from fossil fuels. Register now for FREE unlimited access to Reuters.com RegisterOf this, around 400 billion euros would target the distribution grid. "Reducing greenhouse gas emissions by 55% and reaching a share of 45% renewables in 2030 can only happen if the energy system is ready for it," the draft said, referring to the EU's climate targets. The EU "action plan", which does not include legal proposals, said the bloc would propose new legislation next year to address cybersecurity risks in energy and gas networks.

French President Emmanuel Macron delivers a speech at the Sub-Prefecture in Saint-Nazaire after a visit at the Saint-Nazaire offshore wind farm, off the coast of the Guerande peninsula in western France, September 22, 2022. Macron, who said in February that he wants France to have about 50 offshore wind farms by 2050, was visiting the country's first, built off Brittany, a project which took ten years to build and which started being connected to the grid this month. "It still takes too much time in France," Macron said, adding that he wants to halve the time it takes to develop renewable energy projects. Macron said he wants France to double the speed of building wind parks in France. Other plans include making it easier to find locations to build wind farms or install solar energy panels.

Standard Chartered (STAN.L), a competitor of HSBC in emerging markets, said earlier this year it would end all direct coal financing for clients by 2032. The Global Coal Exit List, which tracks finance firms' ties to the coal sector, said HSBC's fund arm exposure was $3.4 billion at end-November. HSBC said it will have engaged with all listed companies in its actively managed portfolios with more than 10% of revenues from thermal coal by next year. HSBC said in its 2021 annual report that the bank's thermal coal loan exposure was $1 billion, or 0.2% of its total wholesale loan book. When it comes to holding the boards of companies with significant thermal coal exposure to account, HSBC said its fund arm would vote against the election of board chairs at companies planning to expand production and use of thermal coal.

MADRID/BARCELONA, Sept 21 (Reuters) - Spain has fined Delivery Hero's (DHER.DE) local business Glovo 79 million euros ($78 million) for allegedly violating labour laws, its labour minister Yolanda Diaz said on Wednesday. "(Glovo) has violated fundamental labour rights and they have obstructed the work of the investigation. In May 2021, Spain passed one of Europe's first laws relating to gig-economy workers' rights, requiring riders for food delivery platforms be made employees on formal labour contracts. A woman wearing a protective face mask amid the outbreak of the coronavirus disease (COVID-19) walks past Glovo food delivery couriers in Kyiv, Ukraine August 6, 2020. REUTERS/Valentyn Ogirenko/File PhotoBut some, such as 19-year-old Glovo rider Giancarlo from Peru, said they have still not been offered a formal contract.

LONDON, Sept 21 (Reuters) - A sugar-based alternative to vinyl could help to decarbonise the music industry, according to its developer. Acting CEO of Evolution Music Marc Carey said sonically and in terms of equalisation the music recorded on the bioplastic records is "absolutely spot on." 1/5 Marc Carey, CEO of Evolution Music, holds a bioplastic record made with a sugar-based alternative to vinyl, in London, Britain September 8, 2022. A richer sound, cover art and the ability to cradle a vinyl record in the hands contribute to the growing emotional appeal for LPs. "The music industry, the creative arts, should be at the forefront of innovation ... and typically, cultural change is what affects political and social change," Carey said.

Register now for FREE unlimited access to Reuters.com RegisterThe Amazon logo is seen outside its JFK8 distribution center in Staten Island, New York, U.S. November 25, 2020. REUTERS/Brendan McDermid/File PhotoCompanies Amazon.com Inc FollowSept 21 (Reuters) - Amazon.com Inc (AMZN.O) said on Wednesday it would add 2.7 gigawatts of clean energy capacity through several new projects as it seeks to use 100% renewable energy across its business by 2025. Amazon's renewable energy projects would total 379 after the addition of the 71 new ones and it expects to generate 50,000 gigawatt hours (GWh) of clean energy from its entire portfolio, equivalent of powering 4.6 million U.S. homes each year. The new projects include three large-scale plants in the Indian state of Rajasthan with a capacity of 420 megawatts (MW), rooftop solar projects in France and Austria, and its first solar farm in Poland. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Savyata Mishra in Bengaluru; Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

The Citigroup Inc (Citi) logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris HelgrenCompanies Citigroup Inc FollowNEW YORK, Sept 20 (Reuters) - Citigroup Inc introduced new diversity goals for gender, race and sexual orientation in its workforce for 2025, the bank said in a statement Tuesday. Citigroup became the first major Wall Street bank to appoint a woman, Jane Fraser, as its chief executive last year. Citigroup also expanded its worldwide hiring goals to include 3.5% of people who are lesbian, gay, bisexual, transgender and questioning in 2025 from the current 2.1%. And it further outlined aims for ethnic diversity in the U.K. and Brazil, and hiring college students from underrepresented communities.

Workers talk outside an office building at the Fortescue Metals Group (FMG) Christmas Creek iron ore mine located south of Port Hedland in the Pilbara region of Western Australia, November 17, 2015. Register now for FREE unlimited access to Reuters.com RegisterThe world's fourth-largest iron ore producer anticipates cumulative operational savings of $3 billion by 2030 with payback on investment by 2034, and expects to save $818 million in costs per year from 2030 onwards. Fortescue and its green-energy unit Fortescue Future Industries (FFI) are trying to rapidly develop infrastructure and technology to produce green hydrogen, as the miner transitions from a pure-play iron ore producer to a green energy firm. (https://bit.ly/3f3jt2R)The miner expects "attractive economic returns" on operating cost savings after eliminating diesel, natural gas, and carbon offset purchases from its supply chain, it added. Register now for FREE unlimited access to Reuters.com RegisterReporting by Sameer Manekar in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

REUTERS/Brendan McDermidSept 20 (Reuters) - Amazon.com-backed (AMZN.O) Infinium said on Tuesday it will supply low-carbon electrofuels for the e-commerce giant's trucking fleet starting next year. Infinium's supply of electrofuels — a fossil-based fuel alternative created with carbon waste and renewable power — will reduce Amazon's carbon emissions for roughly 5 million miles of travel per year, it said. The tech giant said it plans to initially use the electrofuels in trucks in its middle-mile fleet in Southern California. Amazon invested in Infinium, a renewable electrofuels solution provider, in 2021. Register now for FREE unlimited access to Reuters.com RegisterReporting by Chavi Mehta in Bengaluru; editing by Uttaresh.VOur Standards: The Thomson Reuters Trust Principles.

Sept 20 (Reuters) - The Net Zero Asset Owner Alliance (NZAOA) said on Tuesday that nearly two thirds of its members had set short-term goals to cut portfolio emissions in line with capping global warming at 1.5 degrees Celsius as "the clock is ticking" on climate change. While all have committed to do so by 2050, the group is increasingly asking them to implement shorter-term objectives. "Much still remains to be done," the group wrote as it aims to grow to 200 members, or to $25 trillion in assets by 2025. NZAOA, which works with strategic advisers from the World Wildlife Fund (WWF), wants standardised emissions reporting. Register now for FREE unlimited access to Reuters.com RegisterReporting by Juliette Portala; Editing by Simon Jessop and Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

☆ Environmental groups ask P&G investors to vote against CEO as board chair
▼ + stars: | 2022-09-19 | by ( Jessica Dinapoli | Thomson Reuters | New York-Based Reporter Covering U.S. Consumer Products Spanning Paper Towels To Packaged Food | ) www.reuters.com time to read: +5 min

They also oppose corporate directors Angela Braly, chair of the governance and public responsibility committee and Patricia Woertz, a member of that committee. Register now for FREE unlimited access to Reuters.com RegisterInvestors are set to vote on the re-election of P&G's corporate directors at its annual meeting on Oct. 11. In the filing, the environmental groups request replacing Moeller with an independent chair, a structure some investors prefer. Braly's role as chair of the governance and public responsibility committee, which oversees environmental concerns including forestry, "have not succeeded in mitigating" risks in P&G's forest sourcing, the environmental groups said. The environmental groups said Moeller's work with Monsanto, owned by Bayer, "does not align with prioritizing corporate responsibility or scientific integrity."

☆ Environmental groups ask investors to vote against P&G CEO, directors
▼ + stars: | 2022-09-19 | by ( Jessica Dinapoli | Thomson Reuters | New York-Based Reporter Covering U.S. Consumer Products Spanning Paper Towels To Packaged Food | ) www.reuters.com time to read: +4 min

Register now for FREE unlimited access to Reuters.com RegisterInvestors are to vote on the re-election of P&G's corporate directors at its annual meeting on Oct. 11. Last year, NRDC also urged investors to vote against Braly, and she received significantly fewer votes for her re-nomination to the board compared to other directors, according to a securities filing. P&G is "laser-focused on shareholder values and the value of the company from an asset perspective," Matthews said. Braly's role as the chair of the governance and public responsibility committee, which oversees environmental concerns including forestry, "have not succeeded in mitigating" risks in P&G's forest sourcing, the environmental groups said. The environmental groups said Moeller's work with Monsanto, now owned by Bayer, "does not align with prioritizing corporate responsibility or scientific integrity."

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