"BlackRock’s renewed promise to actively engage, and when necessary, vote against companies that are not making sufficient progress on sustainability and climate risk will help to build a more transparent capital market system."
-Mindy Lubber, CEO & President, Ceres
David Solomon. CEO of Goldman Sachs, says the company is targeting $750 billion of financing, investing and advisory activity to areas focused on climate transition and inclusive growth. He also calls for governments to put a price on the cost of carbon.
Mr. Solomon writes, "Looking ahead, the needs of our clients will increasingly be defined by sustainable growth. Our firm's long-term financial success, the stability of the global economy and society's overall wellbeing all depend on it."
Companies are increasingly correcting accounting problems by quietly updating past numbers, rather than alerting investors and reissuing financial statements. A study finds that almost half of these “quiet” revisions to SEC filings from August 2004 through 2015 met at least one of the guidelines for them to be considered “Big R” restatements that require alerts to investors and restatements of financial results.