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ESG Newsletter

      BlackRock Support Sought in Bid to End 5-Month Coal-Mine Strike

      2021-07-28

      BNN Bloomberg: Coal miners from states including Alabama and West Virginia picketed outside BlackRock Inc.’s New York headquarters in a bid to get the world’s largest asset manager to pressure Warrior Met Coal Inc. for better wages and employee benefits.

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      Wilshire Shares Latest Results, Key Lessons from Its Diverse Owned Manager Initiative

      2021-07-28

      Business Wire: As part of a continued effort to create opportunities for diverse owned asset management firms, Wilshire released a report today outlining the 2020 results of its ongoing Diverse Owned Manager Initiative.

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      Pension Funds Talk Green While Holding Billions in Polluter Stocks

      2021-07-28

      BNN Bloomberg: The 10 largest U.S. public pension funds still have a lot of money invested in the biggest corporate polluters.

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      U.K. Targets 40% Women and More Racial Diversity in Boardrooms

      2021-07-28

      BNN Bloomberg: London-listed companies should have at least 40% women and one non-White director in their boardroom, under the most detailed plans yet from British financial regulators to increase diversity in corporate life.

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      U.S. Banking Regulator Taps Official to Oversee Climate Change Risk to Banks

      2021-07-27

      Reuters: The Office of the Comptroller of the Currency announced Tuesday it had created a Climate Change Risk Officer to lead the agency’s efforts to ensure banks are appropriately managing risk around climate change.

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      GRAPHIC-Global Sustainable Fund Assets Hit Record $2.3 Tln in Q2

      2021-07-27

      Nasdaq: Global sustainable mutual fund assets hit a fresh record high in the second quarter, led by flows into equities, although the pace of net inflows slowed from the prior quarter, data from Morningstar showed.

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      ESG Investor Galway Sustainable Capital Closes New $265 Million Funding From Oaktree

      2021-07-27

      Business Wire: Galway Sustainable Capital, Inc. (“GSC”) announced a new, broad-based funding partnership with funds managed by Oaktree Capital Management, L.P. (“Oaktree”). Under the terms of the deal, GSC secured a minority equity investment and closed a new, multi-year, multi-tranche credit facility with Oaktree. 

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      Apollo Investors Look Past Black-Epstein Tie to Back Impact Fund

      2021-07-26

      BNN Bloomberg: The backlash against Apollo Global Management Inc. over Leon Black’s ties with sex offender Jeffrey Epstein is waning, with investors lining up to entrust the firm to manage investments dedicated to social responsibility.

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      Fidelity to Vote Against Climate Laggards Starting Next Year

      2021-07-26

      BNN Bloomberg: Fidelity International warned companies it invests in that if they don’t take sufficient action to combat climate change the asset manager will vote against management at shareholder meetings beginning next year.

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      2021 Renewable Energy Industry Outlook

      2021-07

      Deloitte: The potential for increasing renewable energy demand, combined with the electrification of transportation and industrials and oil and gas companies’ increased participation in the electricity value chain, is accelerating industry convergence. Explore how these trends could help foster collaboration and what the year ahead may look like for the renewable energy industry.

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      “ESG Screen” Grows in Importance for Private equity investments

      2021-07

      Private Equity Wire: The majority (62 per cent) of GPs have declined to invest in a company due to ESG or ethical considerations in 2021, according to Investec’s annual GP Trends survey. Last year, this figure stood at 55 per cent, showing the continued and growing importance of ESG to GPs.

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      Nuveen Launches ESG Impact Bond Fund

      2021-07-22

      Money Management: The firm said the strategy followed the environmental, social and governance (ESG) investment process established in 2007 by Stephen Liberatore, Nuveen head of ESG/impact – global fixed income.

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      Carlyle Launches Green Energy Infrastructure Unit

      2021-07-21

      Private Equity News: Private-equity giant Carlyle is launching a company to develop renewable-power-generation and storage projects in a push to reorient its energy business toward sustainable investments.

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      Climate Friendly Cooling Tech Firm Gets $50 Million from Goldman Sachs

      2021-07-21

      Reuters: Chemicals used in air conditioning, freezers and refrigeration have long hurt the environment by destroying the ozone layer and polluting water sources, but technology is starting to change the way we keep cool.

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      Real Assets Boutique Hires ISS Expert to Lead ESG Efforts

      2021-07-21

      Citywire Selector: Real assets investment house KGAL Group has hired Susanna Marttila as its new ESG officer, as part of the German group’s plans to accelerate a push into more sustainable investing.

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      Hedge Fund Giant Bridgewater Makes Sustainability Splash with New Multi-asset Strategy

      2021-07-20

      Hedge Week: The Lyxor/Bridgewater All Weather Sustainability Fund – which is managed by Lyxor Asset Management and sub-advised by Bridgewater – is built around Bridgewater’s pioneering systematic research process, and will use the hedge fund giant’s “All Weather” asset allocation framework to engineer its portfolio.

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      BlackRock Cites Corporate Governance 'Concerns' for Voting Against 10% of Directors' Elections

      2021-07-20

      Investment Week: The latest BlackRock Investment Stewardship (BIS) report for the 2020-21 proxy voting year revealed that BIS voted on more than 64,000 director elections, voting against 10% for "falling short of our expectations".

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      NAPA Launches ESG(k) Certificate Program for Advisors

      2021-07-14

      NAPA: Amid growing interest in Environmental, Social and Governance investing among plan sponsors and participants, the National Association of Plan Advisors has launched a new certificate program designed to help advisors educate them and evaluate ESG alternatives.

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      Capstone Survey Highlights Growing ESG Conviction Among Private Equity LPs Worldwide

      2021-07-15

      Private Equity Wire: According to a new survey of 140 global LPs conducted by leading independent global placement agent Capstone Partners (Capstone), European investors continue to lead the way on ESG, demonstrating clear objectives and focus when investing in the private markets.

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      ESG in a Time of Crisis: Why ESG Scores Cannot Mitigate Risk

      2021-07-15

      Investment Week: When the coronavirus pandemic spread around the world in 2020, investors quickly grasped the gravity of the situation and a sense began to emerge that it was perhaps a moment when firms with strong environment, social and governance (ESG) would be less negatively affected than others.

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      Ex-BNP Paribas Banker Targets $1 Billion for Japanese ESG Fund

      2021-07-14

      BNN Bloomberg: Kyoya Okazawa, a former Asia executive at BNP Paribas SA, aims to raise $1 billion for a new ESG fund backing Japanese startups in sectors ranging from paint to grass-fed beef.

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      Wellington Management Partners with Enel Green Power North America to Match U.S. Employees' Office and Home Electricity Use With Renewable Energy

      2021-07-14

      Cision: Enel Green Power North America and Wellington Management have agreed to terms for a 10-year virtual power purchase agreement (VPPA) for an 11 MW portion of the energy delivered to the grid by Enel Green Power's Rockhaven wind project. The arrangement, which is subject to definitive agreements, covers approximately 48 GWh of wind energy annually and the associated renewable energy certificates (RECs) are equivalent to avoiding 30,000 tons of CO2 from the atmosphere each year.

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      Super Fund Awards First ESG Mandate

      2021-07-14

      Financial Standard: A $3.4 billion industry super fund handed its first ESG mandate to an Edinburgh-based fixed income boutique.

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      Al Gore Warns Greenwashing May Stop the Climate Fight in its Tracks

      2021-07-13

      BNN Bloomberg: Al Gore warned that the “the mounting threat of greenwash” poses a significant and increasing risk to a successful transition away from fossil fuels.

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      Asset Managers Warn Sustainable Finance Rules Could Reduce Financing to Emerging Markets

      2021-07-13

      Institutional Asset Manager: The EU published its sustainable finance framework last week, setting out the bloc’s milestones and measures for Europe’s financial sector to show how it is contributing to the goal of net-zero carbon emissions by 2050.

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      Ardian Eyes $2.4 Billion Hydrogen Fund in Green Energy Bet

      2021-07-12

      Financial Post: French private-equity firm Ardian SAS is considering raising as much as 2 billion euros ($2.4 billion) for a fund dedicated to green hydrogen, one of the hottest fuels in the energy transition.

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      Hedge Funds Question How Green Investing will Impact Assets

      2021-07-12

      Funds Europe: Hedge fund investors are likely to demand information on ESG performance every 18 days, according to research that reveals concern in some parts of the industry that green investing will be good for their business.

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      Patchwork of ESG Ratings Sow Investor Confusion as Flows Surge

      2021-07-08

      BNN Bloomberg: As trillions of dollars flow into ESG strategies, global investors are becoming frustrated with the hodge-podge of standards and ratings designed to guide their allocation decisions and are clamoring for more uniform rules.

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      Allianz Global Investors to Reduce Holdings of Coal Businesses

      2021-07-08

      BNN Bloomberg: The 598 billion-euro ($707 billion) investment manager said in a statement Thursday that starting in December it will no longer invest in companies that derive more than 30% of their annual revenue from thermal coal extraction, as well as those where more than 30% of their electricity production is based on coal. 

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      CFA Society's Goodhart: Diversity and Inclusion Must Remain Profession's Top Priority

      2021-07-07

      Investment Week: The investment sector’s focus on climate change is overdue, but while it is necessary to address climate, we must ensure that diversity and inclusion (D&I) considerations do not get forgotten.

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      10 Top Hedge Funds Focusing on ESG and Impact Investing

      2021-07-07

      Yahoo Finance: The environmental, social, and corporate governance (ESG) movement has forced big finance to recalibrate priorities around impact investing in the past few years. Hedge funds, one of the last to the ESG party, have recently also started incorporating ESG and impact considerations into their decision-making process for new ventures.

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      The Case Against Fossil Fuel Divestment

      2021-07-07

      BNN Bloomberg: The Maine Public Employees Retirement System can’t simply jettison investments in atmosphere-warming items such as coal, petroleum and natural gas. Since the fund’s “primary duty” is to the monetary wellbeing of retirees and members, it’s barred from selling any securities unless it’s in their “best financial interest,” explained MainePERS Executive Director Sandy Matheson.

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      ESG Criteria Crucial for Outperformance and Resilience – Especially in Crisis Year 2020, says LFDE

      2021-07-07

      Institutional Asset Manager: ESG criteria is an outperformance factor and an essential prerequisite for companies' resistance to crises, according to the latest "SRI & Performance Study by LFDE," conducted by French asset manager La Financière de l'Echiquier (LFDE) for the third consecutive year.

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      AMG CEO on Parnassus Deal: ‘Active Management is Almost Synonymous with ESG’

      2021-07-06

      Institutional Investor: Affiliated Managers Group and Parnassus Investments — the largest U.S. asset manager focused purely on environmental, social, and governance — have been talking about a potential deal for 10 years. This month the two reached an agreement.

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      Private Equity Follows the Money — and the Money is Ditching Fossil Fuels

      2021-07-06

      Financial Post: Today’s private equity shops — including the world’s largest alternative asset manager, Blackstone Group Inc. — are pouring capital into fast-growing sectors such as solar, carbon capture, and battery storage. 

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      Net Zero Asset Managers Initiative Announces 41 New Signatories, with Sector Seeing ‘Net Zero Tipping Point’

      2021-07-06

      Institutional Asset Manager: Forty one leading asset managers, representing USD6.8 trillion in assets, are joining the Net Zero Asset Managers initiative. Among other steps, this will see the investors work with clients to reach net zero emissions alignment across their portfolios by 2050 or sooner and set interim 2030 emissions reduction targets.

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      GOP Senators Ask Whether ESG Investing Hurts Federal Retirement Savers

      2021-07-01

      Investment News: Two leading Republican lawmakers on the Senate’s banking and government oversight committees are warning that a commitment to environmental, social and governance investing by two giant asset managers could be diminishing the retirement savings of federal employees.

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      HSBC Asset Management Finances the Launch of Radiant ESG Global Investors

      2021-07-01

      Business Wire: HSBC Asset Management today announces that it is taking a minority stake in Radiant ESG, a US-based, ESG and diversity and inclusion (D&I) focused consulting firm co-founded by Heidi Ridley and Kathryn McDonald, former CEO and Head of Sustainable Investing at Rosenberg Equities, respectively.

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      Deloitte Study: 90 Percent of Institutional Investors Consider Climate Change Risks Before Deciding to Invest in a Company

      2021-07-01

      The Wealth Advisor: Climate change risk is an increasingly significant driver in investment models and has been cited by almost 90 percent of institutional investors as the most significant ESG (environmental, social, governance) factor influencing their decisions to invest in a company, according to a Deloitte report.

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      Firms Scrub Dirty Bonds Off Books in Quest for ESG Credentials

      2021-07-01

      BNN Bloomberg: A new trend is emerging in the world of ESG as companies turn their attention to cleaning up old debt. They’re either buying back conventional notes, which could finance just about anything, or transforming old securities to green.

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      JP Morgan Launches Three Sustainability Funds

      2021-06-30

      Financial Times Adviser: JP Morgan Asset Management (JPMAM) has launched three sustainability-focussed OEICs in what is its first UK thematic offering.

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      Crossover Energy Partners Teams Up with KKR to Accelerate The Clean Energy Transition

      2021-06-30

      Business Wire: Crossover Energy Partners’ mission is to support renewable energy initiatives and decarbonization goals for large energy users by designing cost-effective and innovative solutions tailored to their specific needs.

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      Large Institutions, Including AIMCo, OMERS, and CPP, Reveal Their Progress on Diversity

      2021-06-29

      Institutional Investor: One year after 2020’s Black Lives Matter protests sparked reflection on diversity in the investment industry, research published by the Institutional Leadership Network shows that major players have implemented a wide range of equity and inclusion initiatives. But the organizations say there is still a long way to go.

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      Morgan Stanley Investment Management Launches Global Balanced Sustainable Fund and Global Balanced Income Fund for UK Investors

      2021-06-29

      Institutional Asset Manager: Both funds are managed by the experienced Global Balanced Risk Control Team who focus on maintaining a stable risk profile, whilst making tactical allocations across regions and sub-asset classes to add further value.

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      Beware of ‘ESG Bubble,’ Says Ex-Chair of World’s Biggest Pension

      2021-06-28

      BNN Bloomberg: The former head of the board of governors at the world’s largest pension fund said he sees signs of a “bubble” in environmental, social and governance investing, and said the Japanese fund needs to consider how much ESG assets contribute to returns.

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