Climate change

A little-used part of the U.S. tax code allows foundations to use some of their endowments as “program-related investments.”

The region with the highest taxes in the world is weighing how to use them in the fight against climate change.

BlackRock, the world’s biggest fund manager, said Tuesday that it plans to put sustainability at the center of its investment strategy and it will push companies to improve their climate risk disclosures.

Former Exxon Mobil Corp. Chief Executive Officer Rex Tillerson rejected the New York attorney general’s claim that for years he spearheaded a secret scheme to defraud investors by lying about how the oil company planned for the financial risks of climate change.

International accounting groups convened in New York during Climate Week to discuss the urgent need for action.