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Corporate Secretary: SEC commissioner Allison Herren Lee has called for organizations around the world to work together in determining how companies report on the risks of the climate crisis.
Yahoo Finance: Treasury Secretary Janet Yellen on Thursday led a panel of top federal regulators in judging climate change to be an “emerging threat” to the nation’s financial stability, releasing tentative recommendations for how agencies should begin preparing to contain the risk.
BNN Bloomberg: Goldman Sachs Group Inc.’s asset management arm has hired Marit van Rheenen from Jones Lang LaSalle Inc. in a newly created role leading the firm’s ESG efforts for real estate in Europe and Asia.
Funds Europe: Responsible investing is not important when making decisions about their portfolio, according to half of those questioned by Embark in its latest Investor Confidence Barometer research.
BNN Bloomberg: Europe is neglecting a key financial investing tool in its efforts to promote sustainable capital flows, according to the association representing the region’s biggest banks and asset managers.
The Sydney Morning Herald: The chief executive of the world’s largest asset manager has called on governments globally to treat climate change with the same urgency as COVID-19 by supporting private capital investment in new technologies, but warned capitalism alone could not solve this crisis.
Investment Week: Some 53% of investors globally say they are held back from integrating ESG data into their investment decision-making process due to a lack of consistency in ESG scores, a study by Capital Group has found.
Yahoo Finance: U.S. Sen. Bob Menendez, D-N.J., and nearly two dozen other lawmakers called on the Securities and Exchange Commission to implement measures that could increase racial and gender diversity in the $70 trillion asset management field.
Funds Europe: The investment industry must do more to showcase opportunities for graduates to make a difference in society, the CFA Institute has warned.
Private Equity Wire: UK dealmakers are equally convinced that the biggest threats to completing deals in the next 12 months will be issues stemming from the pandemic and climate change.
HedgeWeek: While long/short and global macro strategies continue to be hedge funds’ bread and butter, one-third of respondents to a new survey of 184 alternative investment professionals by advisory and accounting firm EisnerAmper expect LPs to increase investment allocation to event-driven in the next 12 months, followed by credit (25 per cent) and quant (17 per cent).
Private Equity Wire: EQT AB is proud to announce that EQT’s science based targets have recently been approved and validated by the SBTi meaning that EQT has formalied its GHG emission reduction targets in line with the 1.5c pathway described in the Paris Agreement.
U.S. News: BlackRock Inc, the world's largest money manager, voted against a resolution calling for Commonwealth Bank of Australia (CBA) to stop financing new fossil fuel projects, it said.
BNN Bloomberg: The commodity rally may be the talk of Wall Street, but old-school energy producers are still lagging the oil price big time -- a tell-tale sign the era of green investing is in full swing.
Yahoo News: Lucian Firth, an attorney who represents hedge funds and other asset managers on industry regulation, says his work life has been transformed by a new set of rules that prevent investment professionals from exaggerating the environmental and social credentials of whatever they’re selling.
BNN Bloomberg: Fewer than one in ten companies are measuring their greenhouse gas emissions correctly, according to Boston Consulting Group, highlighting a major hurdle in the race to net-zero.
Financial Post: Prince Harry, Duke of Sussex, and his wife, Meghan Markle, Duchess of Sussex, are the latest to join the boom in sustainable investing as they follow Wall Street in embracing a multitrillion-dollar industry.
HedgeWeek: With traditional equity and credit returns set for a squeeze, and ESG, Covid-19 and remote working upending the hedge fund industry from both an investment and operations perspective, managers face both considerable challenges and sizable opportunities up ahead, speakers at EisnerAmper’s 6th annual Alternative Investment Summit said this week.
Yahoo Finance: A BlackRock Inc. decision to give some of its biggest clients more power to vote at shareholder meetings just added a new twist to the raging debate at the heart of ESG investing.
BNN Bloomberg: Japan will introduce environmental, social and governance considerations for foreign reserves held by the finance ministry, reflecting a need to seriously tackle climate change in order to achieve the country’s 2050 carbon neutral goal.
Financial Post: Novata launched as an innovative new public benefit corporation and technology platform built to provide the private markets ecosystem, including private equity firms, with intuitive and effective Environmental, Social Good and Corporate Governance (ESG) measurement, data collection and benchmarking.
Business Wire: Blackstone announced that Amisha Parekh has joined the firm as Global Head of ESG for Private Equity. Ms. Parekh will be a Managing Director sitting within the firm’s Portfolio Operations group to lead ESG diligence, policy development and strategy, and reporting for all businesses in our Private Equity reporting segment.
BNN Bloomberg: Five years. That’s roughly how much time the investment universe has left to stop feeding capital to greenhouse-gas emitters before it’s too late, according to the co-founder of Generation Investment Management LLP.
BNN Bloomberg: Deutsche Bank AG’s asset management unit is starting a fresh review into greenwashing claims by a whistleblower, as regulatory probes in the U.S. and Germany continue.
Financial Post: The international trend, after all, is undeniable: according to the Sabin Center for Climate Change Law at Columbia Law School, more than 1,385 lawsuits seeking relief from climate change, which is but one aspect of ESG litigation, have been filed in the U.S. And more than 425 have surfaced in other countries, including Canada, France and Britain.
Private Equity Wire: Globally, Gender Lens Investing (or GLI) is gaining interest as more investors and financial institutions are adopting this as part of their investment strategy. Gender Lens Investing is very simply, an investment strategy that factors in gender analysis to advance equality and redress the gender imbalance within businesses.
BNN Bloomberg: Steve Lydenberg’s passion for social change was inspired by anti-Vietnam War demonstrations, consumer boycotts, and the movement to divest from apartheid South Africa. But he didn’t take to the streets. Instead, Lydenberg turned to the world of finance to help catalyze societal change.
Globe Newswire: Leading global general partners (GPs) and limited partners (LPs) today announced the creation of the ESG Data Convergence Project to advance an initial standardized set of ESG metrics and mechanism for comparative reporting.
Knight Foundation: New study reveals that 30 of the 55 largest foundations are currently investing one in six dollars of their total U.S.-based financial assets with diverse-owned asset management firms.
CNBC: Dalio, 72, stepped down as co-CEO of hedge fund Bridgewater Associates in 2017. Since then, the billionaire’s ventures have largely refocused on sharing knowledge with younger generations, ranging from people management software company Principles to OceanX, a New York City-based ocean research and exploration nonprofit that Dalio co-founded with his son Mark in 2018.
Institutional Asset Manager: Financial return is the top driver for ESG financing decisions for 800 of the largest companies globally, with one in every four (25.3 per cent) citing it as the key motivation, according to a new report.
Financial Post: There’s a veteran of ESG investing who can’t wait for tougher regulations to stamp out the false claims by fund managers in the US$35-trillion industry he helped champion.
Private Equity Wire: These are boom times for private equity. In the first half of 2021, over USD500 billion worth of deals were announced globally, setting this year firmly on track to be the biggest in the industry’s history.
BNN Bloomberg: Much like climate change, health poses a systemic risk that investors “cannot diversify away from,” according to a new report from ShareAction, a U.K. nonprofit focused on responsible investing. Through interviews with 30 asset managers, the group found that most aren’t investing in a way that protects human health.
CNBC: Big companies and banks shouldn’t be the only “climate police” in the world, says BlackRock Chief Executive Larry Fink, who called on governments and society to play their part in climate change.
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