Counsultancy.UK: As the global economy heads into recession, it seemed that investors and executives were about to clash on environmental, social and governance spending. While investors said they were increasingly likely to divest from companies which did not take sustainability budgets seriously, one-third of executives said they were considering cutting ESG spending, as they sought to consolidate their bottom lines.
Investment Week: Private market companies are baffled by ESG reporting requirements with 90% of companies held in private equity funds unsure how to report, according to a new study by KEY ESG.
Roll Call: Investors will ramp up their scrutiny of corporate political spending this spring with a specific focus on whether companies' advocacy and lobbying align with the climate goals of the Paris Agreement.
Advisor Perspectives: Six Wall Street banks are being pressed by a group of shareholders to move faster on reducing their financing of fossil fuels to meet global climate goals.
BNN Bloomberg: The UK’s proposed rules to eradicate greenwashing in investment funds set a higher bar than those already enforced in the European Union, according to one of Britain’s biggest and most influential finance industry groups.
Institutional Investor: Environmental, social, and governance issues are increasingly impacting exit opportunities for private equity firms. But keeping up with ESG standards remains an ongoing challenge, especially for mid-market managers.
CNN: ESG funds — investments that evaluate companies using environmental, social and governance factors — just survived a tumultuous 2022. They also managed to perform in line with the general market while doing so, and attract new money — a good sign for the future of responsible investing.
Yahoo Finance: The European Parliament's economic affairs committee is due to vote on cross-party compromises, seen by Reuters, on a draft law which implements remaining elements of Basel III, a global accord which forces banks to hold more capital to cope with market shocks unaided by taxpayers.
IFR: The cumulative cost of decommissioning ageing oil and gas assets may reach US$42bn by 2024, according to research company Rystad Energy, as wells are plugged and installations are dismantled and removed and the environment is restored.
CNBC: Bank of America Chief Executive Brian Moynihan said Wednesday that current efforts to produce a set of official global standards on ESG issues were vital to “align capitalism with what society wants from it.”