Green Markets is a daily series dedicated to highlighting events of interest that could impact investments within environmental markets.
General Environmental/Regulatory
The Tennessee Attorney General and BlackRock have reached a settlement in a dispute over the asset manager's incorporation of ESG (environmental, social, and governance) factors in its investment decisions. As part of the agreement, BlackRock will enhance its disclosure of proxy voting practices and undergo third-party audits to ensure compliance. This settlement concludes a lawsuit filed by Tennessee in December 2023, with the state emphasizing the importance of investor choice regarding ESG-focused investments. BlackRock, while denying prioritization of ESG over financial interests, expressed satisfaction with resolving the matter.
Battery Metals
Saudi Arabia is investing $100 billion in critical minerals to diversify its economy and support the global energy transition. With unexploited mineral resource estimates rising to $2.5 trillion, the kingdom is prioritizing the exploration and processing of lithium, rare earth elements, and other key minerals.
Related Stock List(s): Commodity Trust Stocks, Commodity Royalty Stocks
Energy Efficiency
The U.S. Department of Energy’s Loan Programs Office (LPO) announced $22.92 billion in conditional commitments to support grid modernization, clean energy generation, energy storage, and transmission upgrades across 12 states. The loans, made under the Title 17 Energy Infrastructure Reinvestment program, aim to expand transmission capacity through new lines, reconductoring, and grid-enhancing technologies. These projects will benefit over 14.78 million customers, with significant investments in Michigan, California, and the Midwest.
Related Stock List(s): Energy Efficiency Stocks
Liquified Natural Gas (LNG)
GTT and China Offshore Engineering & Technology Company have signed a strategic cooperation agreement in Shanghai to advance floating LNG (FLNG) and floating storage and regasification unit (FSRU) solutions.
Related Stock List(s): LNG Stocks
Renewable Energy
Italy, Albania, and the UAE signed a €1 billion agreement to build a 430-km subsea renewable energy link between Albania’s Vlore port and Italy’s Puglia region, operational within three years.
Water
The Bureau of Reclamation is investing over $282 million in Arizona to enhance Colorado River conservation, focusing on long-term water sustainability. Major projects include an $86.6 million water purification facility in Tucson to conserve 56,000 acre-feet for Lake Mead, and $154 million for infrastructure improvements by Salt River Project and Central Arizona Project to boost regional water resilience.
Related Stock List(s): Water Stocks