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International Investment: Drew joins from Credit Suisse, where she held a similar role, and is a prominent member of various industry bodies linked to sustainability issues, including the Milken Institute Center for Strategic Philanthropy.
Institutional Asset Manager: The majority of European wholesale investors believe megatrends will shape the way they invest in the future, with a particular emphasis on shifting capital to environmental, social and governance (ESG) considerations and emerging market (EM) funds.
Yahoo Finance: Almost four decades ago, Dodson founded Parnassus Investments -- a little known firm outside of ESG circles -- and watched it grow into the world’s largest money manager dedicated to environmental, social and governance factors. The 78-year-old retired in October after he and his family sold their stakes in the business.
BNN Bloomberg: U.S. private-equity firm General Atlantic LP hired Cornelia Gomez as its first head of ESG and sustainability, according to people familiar with the matter.
Private Equity Wire: Astia, a twenty year old organisation dedicated to levelling the investment playing field through intentional investment in women-led companies, has released the findings from a three-year pilot, which was launched when Astia first uncovered a racial bias within its investment decision-making process.
HedgeWeek: IQ-EQ Launchpad aims to expand inclusivity for the wider asset management industry and foster a self-sustaining network of women in senior leadership roles.
Private Equity Wire: The team will launch its first private equity strategy focused on investing in growth-stage private companies that drive resource efficiency and climate adaptation solutions across a range of industries.
BNN Bloomberg: Europe is imposing new requirements on how banks report environmental risks and carbon targets, to give investors a better picture of the threats that climate change poses to the industry.
Private Equity Wire: Invest Europe, an association representing Europe’s private equity, venture capital, and infrastructure sectors, as well as their investors, is to develop a coherent standard for how private equity and venture capital firms should report on environmental, social and governance (ESG) issues - bringing harmonisation and transparency to essential ESG reporting for investors and regulators.
Institutional Asset Manager: Vanguard has filed an initial registration statement with the US Securities and Exchange Commission to introduce Vanguard Baillie Gifford Global Positive Impact Stock Fund, which is designed to meet the needs of investors seeking actively managed global equity returns along with measurable impact on environmental and social challenges.
Institutional Asset Manager: Franklin Templeton has appointed Anne Simpson as Global Head of Sustainability, a newly-created role charged with driving Franklin Templeton’s overall strategic direction on stewardship, sustainability and environmental, social and governance (ESG) investment strategy globally.
Investment Week: Global ESG-labelled bond issuance is "poised to explode" over the coming decade, with issuances potentially reaching $4.5trn per year by 2025 alone, according to research by Pictet Asset Management and the Institute of International Finance.
BNN Bloomberg: Citigroup Inc. set new targets to reduce the carbon emissions it helps to finance, and said it would only drop clients if all else failed in the bank’s push to curb its impact on climate change.
Investment Week: Subscriptions into sustainable vehicles reached £37.1bn in 2021, exceeding the total market new inflow figure of £27.4bn, according to a recent Morningstar fund flows report.
Institutional Investor: West Virginia’s Board of Treasury Investments, which manages $8 billion in state operating funds, has dropped BlackRock money market funds from its portfolio, citing concerns over the firm’s focus on environmental, social, and governance investing.
BNN Bloomberg: Wall Street’s biggest investors are welcoming back oil and gas stocks, and not just because of their knock-out performance over the past 18 months.
BNN Bloomberg: Canada’s financial sector is facing a talent shortage in sustainable finance as demand for people who can evaluate ESG-related risks and opportunities far exceeds the supply, according to a new study.
Investment Week: DWS has unveiled an equity fund managed exclusively by women that will focus on environmental protection, good corporate governance and fair treatment of employees.
CNBC: The rise of ESG investing attracts strong opinions — from the positive to the skeptical to the downright dismissive. But for most CEOs at large corporations, there’s little debate left about environmental, social and governance being core to business thinking and leadership.
Investment Week: Nearly two thirds of financial institutions have no commodity-specific policies to address deforestation risks in their portfolios, including the world’s three biggest asset managers, a report from Global Canopy, an environmental organisation has found.
Funds Europe: The Association of Investment Companies (AIC) has said that high standards should be met if funds are going to call themselves “sustainable” or use the ESG label.
CFTC: Commodity Futures Trading Commission Chairman Rostin Behnam today announced the appointment of Tanisha Cole Edmonds as the CFTC’s first Chief Diversity Officer.
Financial Post: Elliott Management Corp and Ancora Advisors LLC led activist hedge funds in pushing for women to join corporate boards last year, as a Wall Street old boys’ network makes strides toward diversity.
U.S. News: After scoring a landmark win at Exxon Mobil Corp over climate concerns last year, activist investor Engine No. 1 is broadening its sights to press companies on diversity and workforce issues in 2022.
Institutional Investor: Investing in public benefit corporations could be a “potentially game-changing” way for asset owners to incorporate ESG into their portfolios, according to the Queensland Investment Corporation’s Helen McNamee.
Yahoo News: BlackRock Inc. is launching two funds designed to live up to the European Union’s highest standard for sustainability, in an effort to draw in investors looking for the greenest products on the market.
Yahoo Finance: Canada’s federal banking regulator suggested that the country’s financial institutions may face additional requirements to ensure they’re resilient in the face of climate change and the transition from fossil fuels to renewable-energy sources.
Financial Times Adviser: The UK investment industry is being buoyed by inflows into ethical funds, according to the latest Investment Association data, with the ESG sector accounting for three quarters of net inflows to UK retail funds in November.
U.S. News: A group of institutional investors representing $3.5 trillion in assets under management called on pharmaceutical companies to link their executives' pay to making COVID-19 vaccines available around the globe.
CNBC: The European Union has prompted a furious backlash over plans to label nuclear and gas as “green” investments, with Germany describing the proposal as “greenwashing” and Austria repeating its threat to sue the European Commission.
Institutional Asset Manager: M&G Investments has selected Bloomberg Data Management Services (DMS) to host the acquisition and management of its ESG data, enabling seamless integration of the data into the investment process.
Portfolio Advisor: Asset managers signed up to initiatives such as Climate Action 100+ (CA100+) and the Net Zero Asset Managers Initiative (NZAMI) are not using their voting rights to back climate adaptations at listed firms with members opposing a third of environmental resolutions this year, according to research.
Financial Post: It’s official. For the first time since the unveiling of the Paris climate agreement in 2015, banks earned more fees arranging green-related bond sales and loans than they did helping fossil-fuel companies raise money in the debt markets.
BNN Bloomberg: Europe needs to clarify what constitutes a sustainable investment product, as current rules aren’t clear, according to a group of investors, academics and consumers convened to advise on regulations.
Yahoo Finance: The firm’s UK Companies Fund, which manages 152 million pounds ($205 million), will become the Invesco Sustainable UK Companies Fund at the end of the month and add environmental, social and governance factors to its investment decisions, according to a statement on its website.
Institutional Asset Manager: PGIM Real Estate has strengthened its commitment to environmental, social and governance (ESG) investing, with the addition of Julie Townsend as ESG lead for Europe and Asia Pacific, based in London and effective immediately.
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