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.