By Ross Kerber, U.S. Sustainable Business Correspondent |
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Several of my colleagues have been covering a global development conference in Seville where leaders announced a series of projects you can read about in this week's newsletter, below.
I've also got items about a new heat-safety regulation, a tally of state-level bills targeting environmental, social and governance efforts, and a legal win for Institutional Shareholder Services. Please follow me on LinkedIn and/or Bluesky. Or get me via ross.kerber@thomsonreuters.com. |
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UN Secretary-General Antonio Guterres and Spanish Prime Minister Pedro Sanchez walk to a briefing during the 4th International Conference on Financing for Development, in Seville, Spain, June 30, 2025. REUTERS/Jon Nazca |
Global leaders pledge development push at Seville summit |
Temperatures were scorching in Seville, Spain, as global leaders began a conference to address climate change, poverty and other development goals this week, an event United Nations chief Antonio Guterres said was aimed at repairing a world where "trust is fraying and multilateralism is strained."
That was a barb at the conference's most notable absentee - U.S. President Donald Trump, after the world's largest economy, and traditionally its biggest aid giver, did not take part, having declined to back the summit's plan of action.
Nonetheless, the conference moved forward with a series of new announcements. These included a project from the Inter-American Development Bank to create a new platform to help countries manage big currency swings; an initiative to give sovereign borrowers breathing space on debt payments in case of a climate or humanitarian crisis; and a plan by Spain to shift an extra $1.9 billion to the International Monetary Fund for reserve assets.
Also - a group of countries pledged to tax premium-class flights and private jets, among recent efforts to tap revenue from polluting industries. You can click the button below to read that story. |
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| Wegovy presentation is displayed in New Columbia, Pennsylvania, U.S., November 13, 2023. REUTERS/Hannah Beier/File Photo |
- Danish drugmaker Novo Nordisk was not properly prepared for the launch of its weight-loss drug Wegovy and thus was vulnerable to competition, former employees told Reuters.
- CBS parent company Paramount said it would pay $16 million to settle a lawsuit filed by Trump over the editing of an interview broadcast in October, the latest concession by a media company to a president who has targeted outlets over what he describes as false or misleading coverage.
- State Street Corp's asset management unit, State Street Global Advisors, will now be known as State Street Investment Management. The idea is to clarify its mission for new customers, said John Brockelman, the unit's chief marketing officer. "We want to make it more clear what business we're in, what we offer and what we do," he said in an interview.
- In a win for proxy adviser Institutional Shareholder Services, a federal appeals court affirmed a lower court's ruling that the firm does not "solicit" proxy votes, preserving a decision to block proxy adviser regulations from 2020.
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- As the season for extremely hot weather hits many parts of the Northern Hemisphere, U.S. safety regulators are wrapping up hearings on a proposed rule to prevent heat injury and illness.
- Out of 106 "anti-ESG" legislative proposals filed in U.S. state legislatures this year targeting environmental, social or governance matters, 11 bills passed in 10 states, according to a new tally released by climate and energy research and advisory firm Pleiades Strategy.
- Who is driving real change on climate policy in Asia? Register now to watch the livestream of a panel discussion at the #ReutersNEXTAsia summit with sustainability leaders from Asahi Group, Aditya Birla Group, and Sustainable Impact Capital as they reveal what is working and what is holding progress back.
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