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ESG News: The Science Based Targets initiative (SBTi) has released the second draft of its Corporate Net-Zero Standard Version 2, opening a new round of consultation to refine the global benchmark for corporate climate action.
Financial Post: Money managers that retreat from sustainable investment pledges are increasingly being turned away when they pitch themselves to major asset owners in Europe, according to the chief executive of Federated Hermes Inc.
MSN/Reuters: HSBC issued a set of new, softer near-term climate targets for sectors such as oil and gas in response to the slow pace of change in the real economy.
Financial Post: The hedge fund industry is lobbying hard to ensure the UK excludes it from new climate regulations, after prevailing in a similar campaign in the European Union.
ESG News: New York-based Apollo Funds will invest $6.5 billion for a 50% stake in Ørsted’s Hornsea 3, the world’s largest offshore wind project currently under development in the North Sea.
Portfolio Adviser: Over 90% of EMEA investors plan to maintain or raise allocations to ESG or sustainable investments over the next 12 months, according to a Capital Group study, but investors also flagged geopolitical risk, economic growth and policy changes as top headwinds to these potential allocations.
ESG Today: The GAIA Climate Loan Fund, co-founded by MUFG Bank, FinDev Canada and the Green Climate Fund, announced that it has raised $600 million in commitments at its first close, with proceeds to be used to fund loans primarily for climate adaptation projects in climate-vulnerable markets.
Funds Europe: Capital flows into Article 8 funds increased in line with overall market trends, while Article 9 funds continued to experience net redemptions, according to Morningstar’s data.
ESG Today: State Street Investment Management, one of the world’s largest investment managers, announced a significant change in its signatory status with climate-focused investment coalition the Net Zero Asset Managers (NZAM) initiative, pulling out its U.S. business from the group, with only its Europe and UK businesses remaining.
ESG Today: Investment management firm Fidelity International announced the launch of the Fidelity Global Equity Research Enhanced PAB UCITS ETF, a new fund aimed at investing in global equities to achieve income and capital growth.
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