IMPACT INVESTING 2022/Q2 - Page 7

Meta released its first ever human rights report in July 2022. While there is still room for improvement, we applaud the effort and forward progress.

Hashing Out the Impact of the Inflation Reduction Act

The Meta Human Rights Report

The latest tax proposals have mixed reviews from members of the ESG community.

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Source: StreetAccount, BakerAvenue

After years of accusations that the social media giant turned a blind eye to online abuses, Meta Platforms (formerly Facebook, Inc.) commissioned law firm Foley Hoag to conduct a human rights impact assessment.

While Meta achieved plenty of highs in the past couple of years, the lows, including the issues related to harassment and the spread of misinformation, will not be forgotten.

The report sheds light on how Meta plans to handle issues pertaining to the theme of human rights, as well as the respective measures taken to combat past challenges.

Read the full article: Meta Releases Its First Ever Human Rights Report With Strong Justification for Its Strategies

Proposed EV tax credits are also under scrutiny, as the propositions seem to benefit legacy auto makers -- although, as written, no EV manufacturer currently meets all requirements, making qualification for EV tax credits seemingly impossible.

The Inflation Reduction Act also contains funding for parks and forests to hire more park rangers, deter invasive species, and conclude delayed maintenance work. The bill could potentially help the Environmental Protection Agency (EPA) defend new regulations based on emerging technology.

However, if the bill clears the House, as it is expected to, the biggest hurdle will presumably be implementation of its provisions, which would require new infrastructure, hiring of workers, streamlined permitting process, and environmental justice considerations.

Source: Meta Platforms, Digital Information World, BakerAvenue

The proposed Inflation Reduction Act

seeks to reverse an existing ban on wind

energy leases for US territories and

southern coasts, seen as a win for wind

energy. However, new criticism has

surfaced from various community groups

due to the new concessions.

While bill proponents argue a negligible impact

on emissions, environment groups contend that

provisions guaranteeing oil and gas leasing on

federal lands would be damaging. Industry

bodies also claim the bill will hinder businesses'

ability to raise wages, hire workers, or invest in

communities due to high costs.