Today’s ESG Updates
- UK Pension Fund Pulls £28bn from State Street: The People’s Pension prioritizes sustainability amid the European Commission’s pushback against corporate sustainability reporting.
- Apple Shareholders Overwhelmingly Back DEI: Over 97% of shareholders voted against a measure to cease DEI efforts
- Microsoft Invests in 100 MW Solar Projects: The initiative supports Microsoft’s long-term carbon reduction goals
- New Lawsuit Against Apple’s Carbon Neutral Claim: Consumers argue that the company’s reliance on carbon offset projects has not resulted in real carbon reductions
UK pension fund pulls £28bn from State Street amid ESG policy divisions
The People’s Pension, the UK’s largest commercial master trust, has withdrawn £28bn from State Street, prioritizing sustainability, active stewardship, and long-term value creation. The fund awarded a £20bn equity mandate to Amundi and £8bn in fixed-income assets to Invesco, both sharing the People’s Pension’s commitment to responsible investment. This decision comes amid the European Commission’s recent Omnibus package, which narrows corporate sustainability reporting legislation in the EU, and a retreat from ESG initiatives by US firms under the Trump administration. Businesses can stay ahead of global ESG trends and sustainable investment shifts with ESG Solutions.
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Further reading: Top UK pension fund pulls £28bn from State Street over ESG retreat
Apple shareholders overwhelmingly back DEI as corporate support wavers
An overwhelming majority of Apple shareholders rejected a proposal to terminate the company’s diversity, equity, and inclusion (DEI) initiatives, according to Apple’s Tuesday submission to the Securities and Exchange Commission. Over 97% of shareholders voted against the measure to cease DEI efforts, submitted by the National Center for Public Policy Research, a conservative think tank. Despite recent support for DEI measures from Apple and Costco shareholders, Trump continues to investigate private sector DEI practices, and companies including Meta, Target, and McDonald’s have rolled back their DEI programs.
Photo Credit: zhang kaiyv
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Further reading: Apple Shareholders Vote Against Anti-DEI Proposal
Microsoft and Clearloop launch large-scale solar projects in the US
Microsoft has partnered with Clearloop, a pioneer carbon solutions platform, to deploy 100 megawatts of renewable energy projects in underserved US communities over the next three years. The initiative supports Microsoft’s long-term carbon reduction goals and helps diversify energy mixes in American communities that are facing unhealthy social and environmental conditions due to carbon-intensive grids. The projects are set to begin in Arkansas and Louisiana, two US states that are currently well below the US average solar energy production of 4.0%. These large-scale solar developments are expected to prevent over 5 million metric tons of carbon emissions while fostering local economic growth.
Photo Credit: Andreas Gücklhorn
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Further Reading: Microsoft Signs Deal to Deploy Renewable Energy in Underinvested Communities
Lawsuit challenges Apple’s carbon neutral claim for Apple Watch models
Apple is facing a lawsuit over its claim that the Series 9, SE, and Ultra 2 Apple Watch models are “carbon neutral.” Consumers argue that the company’s reliance on carbon offset projects may not have resulted in real carbon reductions. Apple used two offset projects to meet its emissions targets: Kenya’s Chyulu Hills Project, which has been protected from deforestation since 1983, and China’s Guinan Project, involving land already heavily forested before 2015. Since these projects would likely have happened regardless of Apple’s involvement, the lawsuit challenges the legitimacy of the company’s carbon neutrality claims. This case highlights the importance of businesses adopting genuine ESG solutions and avoid greenwashing.
Photo Credit: Simon Daoudi
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Further reading: Apple sued over ‘carbon neutral’ claim for watches
Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — Cover Photo Credit: Tanner Mardis
