In the wake of two years of devastating wildfires in California, Wall Street is incorporating a new risk metric when evaluating companies: climate resiliency.
Chubb Ltd will become the first U.S. insurer to phase out its coal investments and insurance policies, saying on Monday it will no longer sell insurance to or invest in companies that make more than 30% of their revenue from coal mining.
Exxon Mobil Corp is not required to let its shareholders vote on setting greenhouse gas targets, the U.S. Securities and Exchange Commission said on Tuesday, agreeing with the company's request to reject the proposal.
Exxon Mobil Corp is trying to block an investor proposal that calls on the world's largest publicly traded oil company to set targets for lowering its greenhouse gas emissions, two of the investor groups involved said on Sunday.
The Task Force on Climate-Related Financial Disclosures was set up by the G20's Financial Stability Board at the end of 2015 to develop a voluntary framework for companies to disclose the financial impact of climate-related risks and opportunities.
Only about 1 percent of homes in North Carolina's inland counties are insured through the national flood insurance program, according to federal data, compared with 25 percent to 50 percent of homeowners on the coast.
