Oct 29 (Reuters) – This is the weekly Reuters Sustainable Finance Newsletter, which you can sign up for here.
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There is more on Tesla and CEO Elon Musk’s pay in this week’s main story, linked below. I have also flagged our coverage of a lawsuit against Brazil’s top meatpacker, a new push on carbon accounting, and Bill Gates’ new priorities.
Tesla pay critics line up vs new robber baron era
Tesla critics hope to block the stratospheric compensation proposed for its CEO Elon Musk but face an uphill fight.
Investors in the electric vehicle maker will decide on November 6 whether to approve the pay package for Musk that is potentially worth $1 trillion – likely the largest-ever CEO compensation agreement. Tesla’s board is pushing for shareholders to approve the plan, with Chair Robyn Denholm warning on Monday that Musk could leave if the deal is rejected.
Meanwhile, longtime skeptics of the company’s corporate governance, including Democratic U.S. state leaders and union officials, have launched a campaign to vote down the offer.
Several have tried and failed to block earlier record payouts to Musk, including his $56 billion compensation plan that investors reapproved last year amid legal challenges that remain.
Will this time be different? You can click here to read my story on the matter. And you car-biz junkies out there can subscribe to the Reuters Auto File newsletter which also carries items about Tesla and its rivals.
Company news
In a fresh legal challenge for the world’s biggest meatpacker ahead of global climate talks in its home country, Brazil’s JBS has been accused of making false climate claims including about its commitment to reaching net-zero emissions.
On my radar
World leaders should focus on improving health outcomes rather than temperature targets ahead of the COP30 conference, billionaire and philanthropist Bill Gates posted on his blog.
Norway’s government won a round when the European Court of Human Rights ruled against a lawsuit brought by young activists who claimed the country’s Arctic oil exploration puts their future at risk.
Reporting by Ross Kerber in Boston; Editing by Matthew Lewis
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Ross Kerber is U.S. Sustainable Business Correspondent for Reuters News, a beat he created to cover investors’ growing concern for environmental, social and governance (ESG) issues, and the response from executives and policymakers. Ross joined Reuters in 2009 after a decade at The Boston Globe and has written on topics including proxy voting by the largest asset managers, the corporate response to social movements like Black Lives Matter, and the backlash to ESG efforts by conservatives. He writes the weekly Reuters Sustainable Finance Newsletter.
Reuters Sustainable Finance Newsletter – Will it be different this time for Elon Musk?
