We Committed, but We’re Doing a “Take-Back”

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Cost Accounting, Ethical Dilemma, Financial Accounting, Intermediate Accounting, Managerial Accounting, Uncategorized.

According to the New York Times, financial giants are trimming their climate pledges amid Republican attacks.

Questions:

  1. Which firms pulled out of the group called Climate Action 100+, an international coalition of money managers that was pushing big companies to address climate issues?
  2. Does this mean that the firms are changing their commitment to climate issues? Explain.
  3. What states are mentioned as banning banks from doing business with the state if the firms were distancing themselves from fossil fuel companies?

Source:

Gelles, D. More Wall Street Firms Are Flip-Flopping on Climate. Here’s Why. The New York Times, Feb. 19 (Retrievable online at https://www.nytimes.com/2024/02/19/business/climate-blackrock-state-street-jpmorgan-pimco.html)