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"We recognize, and we experience first-hand, investors' growing concern related to ESG issues," an executive from Norway's largest bank recently told shareholders.

That bank, DNB ASA, is one of several in the country working to wind down exposure to oil and gas companies. Our Chart of the Week shows how DNB's oil, gas and offshore exposure dropped over the past few years.

This week, we also cover how delegates from more than 190 countries left COP25, a global climate change convention, without reaching an agreement. And we look at Chevron Corp.'s recent multibillion-dollar write-down, which comes as key stakeholders in the oil and gas giant reckon with climate change risks.

Chart of the Week

Top Stories

Countries at COP25 fail to reach deal on carbon market rules

"The international community lost an important opportunity to show increased ambition on mitigation, adaptation and finance to tackle the climate crisis," U.N. Secretary-General António Guterres said, expressing disappointment at the lack of concrete progress at COP25.

Chevron devaluation comes amid broader climate-related market impact concerns

Amid surging demand for zero-carbon energy sources such as wind and solar, Chevron has written down up to $11 billion of assets. The move comes at a time when investors and analysts are questioning whether major oil and gas companies could have stranded assets in the future due to climate-related risks.

Amid investor scrutiny, Norway's banks future-proof against climate risk

Norway's central bank has warned that climate-related risk could entail substantial losses, reputational damage and financing problems for the country's banks, but analysts are confident the Norwegian banking sector will be able to future-proof itself.

Q&A

Wash. regulator 'nervous' about California's pause on homeowners nonrenewals

"We're fearful that you could start to see some of the things that are developing in California happen in the state of Washington."

Washington Insurance Commissioner Mike Kreidler named forest fires as the No. 1 climate issue he is worried about for his state. Kreidler, who chairs the National Association of Insurance Commissioners' Climate Risk and Resilience Work Group, recently spoke with S&P Global Market Intelligence about his view of climate risk and a recent moratorium in California on home insurance renewals.

Environmental

EU commits to climate neutrality despite pushback from Poland

U.S. House passes package of bills to bolster coastal resilience

Goldman Sachs ends some fossil-fuel funding, ups clean energy target to $150B

Social

Twitter plans 'decentralized standard' for social media, CEO says

MSCI study: Women make up 20% of boards globally, an increase from past 2 years

Major tech companies sued over child labor in cobalt mines

Governance

Liberty Mutual rolls out new coal exclusions; existing ties to phase out by 2023

Governor pans PG&E bankruptcy exit plan, wants 'radically restructured' utility

Facebook delays naming global oversight board members

ESG Indices

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Feb. 5, 2020
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April 23, 2020
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Questions or suggestions? Contact S&P Global Market Intelligence's ESG News team at ESGNews@spglobal.com.