The California Wellness Foundation was established in 1990, when HealthNet, one of the state's largest health care and insurance providers, converted from non-profit to for-profit status. The foundation now aims to protect and improve the health and wellness of the people of California by increasing access to health care, quality education, good jobs, health environments and safe neighbourhoods.
In 2017, the California Wellness Foundation started to align their investments with their mission and vision. Since then, they have allocated $US 48 million to mission-related investments that provide resources and capital to underserved communities. The foundation’s mission-related investments integrate environmental, social and governance considerations and actively exclude companies causing the greatest harm to underserved communities. Moreover, the California Wellness Foundation committed to invest $US 10 million in program-related investments that target affordable housing or small business lending over the next five years.
Financial Post: For the second consecutive year, Barclays Plc shareholders will vote on whether the bank should wind down its lending to the fossil-fuel sector.
City A.M.: The US mutual fund company Vanguard has been named the world’s largest institutional investor in the coal industry, with holdings of almost $86 bn, according to research carried out by Rainforest Action Network, Urgewald and 28 other NGO partners.
BNN Bloomberg: Emerging-market nations are looking at issuing the first nature-linked bonds as part of talks involving the World Bank and major sovereign creditors to make their debt more sustainable.
GreenBiz: After years of debate over the definition of materiality, 2020 has brought a consensus that materiality is double — meaning that businesses should report on financially material topics that influence enterprise value as well as topics material to the economy, environment and people.
BNN Bloomberg: More than any other bank, JPMorgan Chase & Co. finds itself stuck at the center of a fossil-fuel quagmire.
IPE: Pension fund says NGO campaign played no part in decision behind move leading to Elbit Systems dropping out of portfolio.
Institutional Asset Manager: Black Women in Asset Management (BWAM) has launched the BWAM Leadership Accelerator - a transformative six-month programme that will bring together a cohort of high-performing Black women from across the asset management industry (including professional services).
The Guardian: Asset manager says it will also scrutinise generous pay packages if companies have had state aid in pandemic.
The Guardian: The bank, which is due to reveal its annual results this week, faces more challenges than the impact of Covid-19 on profits.