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...The company, three-quarters of which is owned by the founding Persson family, has been trying to improve its environmental sustainability scores, including through an initiative to use more recycled polyester...
...The stock has gained nearly 40 per cent over the past 12 months, outpacing the S&P 500’s 20 per cent rise....
...Martin P Levy H Blairman & Sons, London SW1, UK...
...Todd H Baker is a senior fellow at Richman Center for Business, Law and Public Policy at Columbia Business School and Columbia Law School Loan accounting in a bank should be straightforward, delivering...
...A recent report by analysts at S&P Global made clear how little incentive these companies have to change their ways....
...But their reaction on Wednesday to the Fed’s announcement was far from disappointment, with a sharp rise in equities feeding a rally that has added 27 per cent to the S&P 500 since October....
...Stocks have rallied strongly this year, with the blue-chip S&P 500 enjoying its best start to a year since 2019, having risen 10.2 per cent in the first quarter of 2024....
...Letter in response to this article: Why Britain’s museums are the envy of the world / From Martin P Levy, H Blairman & Sons, London SW1, UK...
...Stocks and bonds were both higher on Thursday, with the S&P 500 up 1.2 per cent while yields on rate-sensitive two-year Treasuries hovered around three-week lows at 4.52 per cent....
...Global demand for plastics, which makes up 50 per cent of petrochemical demand, is expected to nearly double by mid-century, according to S&P Global Commodity Insights....
...The S&P 500 gained 1.1 per cent on Friday to a record high as a surge in tech stocks helped the market shrug off the change in interest rate expectations....
...“Environmental concerns seem to be far from the most important factor for funding oil and gas companies,” the rating agency’s analysts said....
...Stocks fell after Powell’s comments, with the S&P 500 ending the day down 1.6 per cent, its worst day in four months, and the Nasdaq Composite down 2.2 per cent, its worst day in three months....
...Heavily indebted H&W has posted operating losses annually for the past decade, according to S&P Capital IQ, and was bought out of receivership in 2019....
...But Kawakatsu, a former economist at one of Japan’s top universities, has blocked construction for about a decade on environmental grounds....
...S&P already holds a negative outlook on the country....
...Over the past three years, use of environmental metrics rose from 12 per cent to 44 per cent of constituents of the US benchmark S&P 500 index (and rose similarly among big Canadian companies too)....
...Stocks also rallied, with the S&P 500 ending the day up 0.6 per cent at 4,594.63, its highest close since March 2022....
...Divecha, head of market development for climate credit risk at S&P, told me yesterday....
...Environmental, social and governance ratings have been lambasted as unreliable, opaque and poorly correlated to share price performance. This is not just a problem for the investors who follow them....
...The short-term convenience of plastic bottles has created an environmental disaster. The world gets through 500bn plastic bottles a year....
...US stocks and government bonds extended their losses on Thursday after Powell’s comments, with the benchmark S&P 500 closing down 0.8 per cent....
...The acquiring consortium, known as Renaissance, includes Switzerland-based Petrolin and four Nigerian oil producers, ND Western, Aradel Holdings, First E&P and Waltersmith....
...The debt rating agency has since 2021 published scores from one to five for a company’s exposure to each element of environmental, social and governance risks....
...The challenge to Fink’s dual role comes as BlackRock has been under fire from multiple directions over its use of environmental, social and governance factors in investing....
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