Church of England to divest from companies fighting Paris climate accord

first_imgChurch of England to divest from companies fighting Paris climate accord FacebookTwitterLinkedInEmailPrint分享Bloomberg:The Church of England took another step in prodding companies to adopt a green strategy, saying its 12 billion pounds ($16 billion) in funds will divest those that aren’t aligning themselves with the Paris Agreement on climate change.The church’s governing General Synod passed a motion proposed by Canon Giles Goddard of its environmental working group committing the organization to sell shares in companies that haven’t lined up with the Paris goals by 2023, according to a statement.The Church of England has been a loud advocate for action on environmental issues in recent years. It has challenged Exxon Mobil Corp. and Glencore Plc on how they should disclose data relevant to their strategies on climate change. In 2015, it vowed to sell some of its holdings in the most polluting fossil fuels including coal producers and oil sands.Last year, the church voted to approve a non-binding resolution that would force Exxon to publish detailed analysis on how limits on carbon emissions could affect the value of its assets. In 2016, the church filed a resolution seeking disclosure of climate data at Glencore’s shareholder meeting, winning the support of 98 percent of shareholders.The religious body invests through several vehicles, including the Church of England Pensions Board, the Church Commissioners and the CBF Church of England Funds. The commissioners, the body’s endowment fund, manage 8.3 billion pounds.More: Church of England to divest companies not backing Paris climate deallast_img read more

A recipe for a good market

first_imgLast week the NYT carried an interesting piece covering the online legal space. It focused primarily on the legacy players, Lexis and Westlaw, and their plan for improving their online presence. Historically lawyers have leveraged the Internet mostly for research. However, this is changing as lawyers migrate from the traditional lead sources- yellow pages and offline directories to more 21st century techniques- search and email. This market seems ripe for innovation and I wouldn’t be surprised if it doesn’t see more venture funding over the next few years, and hopefully a large new company.A few thoughts on why I like this market: – Legal is an enormous market- multi hundred billion dollars. Most growth equity investors look for markets that measure in the hundreds of millions not hundreds of billions. – It’s an incredibly inefficient market. Think about all the times you have spent just running to some office to sign a document. If you conduct banking online, why aren’t you passing and signing documents online? – SMBS are adopting on-demand products at a very rapid pace. Legal is a critical work-flow item and cost center for SMBs. It’s only a matter of time before they migrate this process to an online vendor.Net, Net when you have a large market dominated by large slow moving competitors it is ripe for innovation.AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to PrintPrintShare to EmailEmailShare to MoreAddThislast_img read more