Private Equity Wire: KKR has appointed Kerryann Benjamin as Chief Diversity Officer and Head of Talent Management, effective immediately. In this role, Benjamin will be based in New York and will drive KKR’s diversity, equity and inclusion (DEI) strategy, a strategic priority for the firm, as well as KKR’s global talent development strategy.
Financial Post: Harvard University will stop investing in fossil fuels and instead use its giant US$42 billion endowment to support the green economy, joining a growing wave of investors moving away from pollutive industries.
ESG Channel: U.S. regulators are cracking down on socially responsible investments that track factors like environmental, social, and governance principles for sustainable investing strategies that only appear sustainable in name only.
Institutional Asset Manager: The report, published today, assesses supply chain sustainability through the lens of the investment manager. The research found that over eight in 10 (85 per cent) investment managers believe that businesses who do not implement supply chain sustainability initiatives will see share prices fall as a result over the next decade.
Private Equity Wire: A trend towards the privatisation of high-carbon assets, such as BP’s sale of its Alaska Oil and Gas business to Hilcorp Energy, risks diminishing transparency and performance on ESG issues since private companies do not have to comply with the reporting requirements of a listed entity.
Financial Post: When American Campus Communities Inc. announced the signing of a $1 billion sustainability-linked credit line in May, its executives decided to take a victory lap.
BNN Bloomberg: One of Australia’s biggest infrastructure investors has pledged to almost halve carbon emissions across its portfolio of toll roads, airports and oil pipelines by the end of this decade as the global asset management industry steps up commitments to tackling climate change.
Financial Post: BlackRock, Fidelity and M&G are among 125 firms endorsed under Britain’s tougher best practice code to stop “greenwashing” by asset managers, though Schroders and 63 others failed to make the grade, the Financial Reporting Council said.
Institutional Asset Manager: The Council on Foundations and Commonfund Institute surveyed 260 private and community foundations and endowments in the US, representing USD115 billion in assets.
BNN Bloomberg: The U.S. Securities and Exchange Commission is considering more stringent disclosure requirements for investment funds amid concerns that some in the industry are making unfounded ESG claims.
Institutional Asset Manager: The UK’s largest asset manager, Legal and General Investment Management (LGIM), has analysed the votes of individual members in its DC pension schemes.
Institutional Asset Manager: From 1 October, pension schemes with more than GBP5 billion in assets will be required to start reporting on the climate impact of their investments.
BNN Bloomberg: One hedge fund in Asia is betting big on the growing interest in carbon offsets to protect forests, as industries and policy makers start to make efforts to cut emissions.
California News Times: The sustainability boom has transferred trillions of dollars to environmental, social and governance funds, bringing new stakeholder-led agendas to corporate executive offices.
Funds Europe: Sarah Peasey is based in London and joins from Legal & General Investment Management (LGIM), where she was head of responsible investment strategy – investments.
Institutional Investor: The Asia-Pacific region’s notoriously low ratings on investment research firm MSCI’s environmental, social, and corporate governance scale are beginning to trend upward.
BNN Bloomberg: The world’s sovereign wealth funds, representing about $10 trillion in combined assets, will end on the wrong side of history if they cling on to strategies that fail to acknowledge how rapidly the planet is overheating, according to the woman who presided over the Paris Agreement.