"CalPERS Takes a Stand Against Exxon: Unveiling Corporate Deception and Environmental Missteps"
Published: 2024-05-26Welcome to today’s edition of the Daily Greenwashing Digest. Here, we explore the latest cases of trickery, lies, and false claims in corporate and environmental practices. Our aim is to help you, our valued readers, understand and see through greenwashing.
CalPERS, the biggest public pension fund in the U.S., has announced plans to vote against all 12 Exxon board members and CEO Darren Woods. Why? Exxon has been accused of silencing shareholders by suing ESG (Environmental, Social, and Governance) activists over a climate proposal. CalPERS says Exxon should have asked the SEC (Securities and Exchange Commission) for approval first and accuses the oil giant of using legal tricks to stop dissent.
Even though Exxon has strong financial results, CalPERS has not done as well, with only a 5.8% return compared to the S&P 500’s 17.6%. Critics say CalPERS should focus on better investments instead of political actions. But the main question is: Is Exxon pretending to care about the environment while actually working against real climate action?
At a recent conference in Vancouver, industry leaders and government officials talked about how the forestry sector could help reduce wildfires in British Columbia. Public polls show support for this idea, but experts disagree. Some say more logging could make wildfires worse, while others think it could help.
Critics say the forestry industry is using wildfire fears to make money and is using public relations to seem like a solution. This tactic is similar to those used by other industries to influence public opinion and policy, raising questions about their true intentions. Is this a real effort to fight wildfires, or just a cover-up for harmful practices?
The scientific community is facing a serious problem: fake research papers from “paper mills.” These fake studies are published in peer-reviewed journals, harming scientific integrity and spreading false medical knowledge. The problem is made worse by a flawed system that values the number of publications over meaningful contributions.
Fake articles are affecting fields like nanotechnology and cancer research. Systemic changes, including strict peer review and quality control, are needed to maintain scientific standards. This deception wastes resources and erodes public trust in scientific research.
With recent backlash and falling prices, clear communication in carbon markets is more important than ever. Companies must honestly communicate their climate impact and carbon market activities to build trust and avoid greenwashing. A panel at an EY event stressed the need for simple, clear, and relatable communication, offering three key tips: simplify complex issues, be transparent, and use relatable examples.
As carbon markets play a crucial role in global efforts to achieve net zero, avoiding spin and maintaining true transparency is vital.
New research suggests that building the Sizewell C nuclear plant in Suffolk could cost taxpayers more than double the government’s estimate. The project faces uncertainties like potential delays and cost overruns, raising concerns about its ESG (Environmental, Social, and Governance) credentials.
The government plans to use the regulated asset base (RAB) funding model, which could add an average surcharge of £1-£2.12 per month to household bills over 13-17 years. With inflation possibly increasing these costs, the project highlights the need for transparency and accountability in large-scale infrastructure investments.
As we navigate the complex world of corporate and environmental practices, it’s important to stay alert against greenwashing. By uncovering lies, trickery, and false claims, we can hold companies accountable and work towards a more sustainable future. Thank you for joining us in today’s Daily Greenwashing Digest. Together, we can make a difference.
Stay informed, stay critical, and stay committed to leaving a better world for future generations.
https://www.ocregister.com/2024/05/26/calpers-continues-to-play-politics-despite-poor-performance/Related news on 2024-05-26
- redlandsdailyfacts.com: CalPERS continues to play politics despite poor performance
- timescolonist.com: Canada logging industry is seeking a wildfire hero narrative
- castanetkamloops.net: Canada logging industry is seeking a wildfire hero narrative - BC News
- nuclear-news.net: Taxpayer contribution to Sizewell C nuclear plant could double
- cognitomedia.com: Three important lessons when communicating in carbon markets
- biznews.com: 🔒 Fake research papers are a problem that getting harder to solve