BNN Bloomberg: Biodiversity loss poses a “significant and under-appreciated” threat to financial stability and its status needs to be elevated by regulators, according to a study by central bankers, financial supervisors and academics.
U.S. News: Goldman Sachs' big asset-management arm will take a harder line in voting on directors at companies that do not disclose enough about their greenhouse gas emissions, an executive said, adding to the pressure on business leaders to provide more climate-impact data.
BNN Bloomberg: Most of the world’s largest banks and asset managers are failing to set concrete climate targets for 2030, raising concern that global finance is kicking the can down the road when it comes to greening the industry.
Private Equity Wire: As part of its long-standing commitment to embedding diversity, equity, and inclusion (DEI) across its spheres of influence, Carlyle has created the Carlyle DEI Leadership Network, a coalition of the firm’s portfolio company CEOs around the globe to develop a peer group for shared resources, insights, and learnings to advance diversity, equity and inclusion within their respective companies.
Funds Europe: New research from Pensions for Purpose suggests that active asset managers opt for an easy life as most do not use climate benchmarks, despite their funds being labelled as 'climate-focused'.
CNBC: Environmental, social and governance, or ESG, ETFs may have picked up in popularity in the last few years, but investors are still confused when it comes to understanding the nuances of a fund’s ESG factors. One solution may be standardizing the criteria used for each fund.
BNN Bloomberg: Fewer than half of 150 major financial institutions have restricted their business with the oil-and-gas sector, even though many of them have made high-profile pledges to reduce their contribution to climate change, according to new research by the Paris-based nonprofit Reclaim Finance.
Yahoo Finance: Russia's war on Ukraine continues to expose uncomfortable realities for environmental, social and governance-focused (ESG) investments, prompting calls for the asset management industry to rethink the loosely-defined term as analysts point to "shocking" holdings within some funds.
SEC: The Securities and Exchange Commission today proposed rule changes that would require registrants to include certain climate-related disclosures in their registration statements and periodic reports, including information about climate-related risks that are reasonably likely to have a material impact on their business, results of operations, or financial condition, and certain climate-related financial statement metrics in a note to their audited financial statements.
BNN Bloomberg: HSBC Holdings Plc promised to “phase down” its financing of the fossil fuel industry, sending a warning to oil and gas clients as the bank works toward its target of net-zero emissions.
Hedge Week: The SBAI, a global alliance of alternative investment managers and allocators and custodian of the Alternative Investments Standards, announced it has created a forum of alternative investment industry organisations committed to addressing diversity in the alternatives industry.
BNN Bloomberg: For years now, managers of big funds touting their supposed focus on the environment, social issues and corporate governance have been faulted for holding shares of fossil-fuel purveyors (including Exxon Mobil Corp. and Chevron Corp.), weapons manufacturers (like Raytheon Technologies Corp.) and mining companies (such as Newmont Corp.).
BNN Bloomberg: Governments should subsidize green technologies and infrastructure to combat climate change, with such investments putting less upward pressure on prices than alternatives including carbon taxes, according to Bridgewater Associates, the world’s largest hedge fund.
Investment Week: New research has revealed that 31 out of 36 fund managers, including Federated Hermes, Rathbones and Liontrust, do not have any investments in Russian-listed entities in their retail sustainable and ESG fund offerings, while the five that did typically had “very limited” holdings.
Institutional Investor: ESG may have gone mainstream, but many of the largest asset owners in the U.S. and Europe aren’t satisfied with their environmental, social, and governance index providers.
Institutional Investor: Since the U.K. launched the landmark Modern Slavery Act in 2015, global asset managers like Abrdn, BNY Mellon, and Lazard have pledged to remove modern slavery — a term that includes human trafficking, forced labor, debt bondage, and forced and early marriage — from their operations and supply chains.
Funds Europe: That is the conclusion of a new survey conducted by UK direct-to-consumer investment platform, Interactive Investor, among a sample of 2,058 visitors to its website earlier this month.
Business Wire: Black Women in Asset Management (BWAM), a non-profit organisation promoting the advancement of Black women working in the asset management industry, is delighted to announce Ares Management, BlackRock, Federated Hermes, Helios Investment Partners, J.P. Morgan Asset Management, M&G plc, Maniyar Capital, Morningstar, Inc. and State Street Global Advisors as new institutional members.
U.S. News: UBS aims to cut its financing of fossil fuel emissions by more than two-thirds by 2030, Switzerland's biggest bank said, joining lenders setting targets for the first time this year.
Yahoo News: To Steve Lydenberg, who has spent almost half a century analyzing how companies impact people and the planet, decisions by socially responsible investors about whether to back businesses in autocratic nations such as Russia aren’t so cut and dried.
U.S. News: Switzerland's second-biggest bank reduced its exposure to emissions it financed in the oil, gas and coal sector by 41% between 2020 and 2021, preliminary estimates in its sustainability report showed, when it had some $2.6 billion in loans outstanding to such clients.
Funds Europe: CFA Institute is expanding its recruitment for young women in France, Spain, and the UK, after the success of its programme in South America and Asia.
BNN Bloomberg: How can fund managers buy Russian government bonds and shares of state-backed energy giants while claiming to be committed to the highest environmental, social and governance principles?
Private Equity Wire: Actis will continue to invest in critical infrastructure assets which catalyse systemic change and help the world to align to a Net Zero pathway. In order to identify these assets and aid its investment decision-making process, Actis has developed a Transition Tool, which is already successfully used across every Actis investment.
Funds Europe: The research by Oxford Risk found that of those 50%, one in seven investors plan to move 60% or more of their investments to ESG in 2022, following increased focus on ethical and sustainable investing.
BNN Bloomberg: Fund managers touting environmental, social and governance standards held at least $8.3 billion in Russian assets right before President Vladimir Putin launched a war on Ukraine.
Institutional Investor: The share of women in C-suite roles in the North American financial services industry is expected to increase from 21.1 percent to 28.3 percent from 2021 to 2030, according to a new Deloitte report that studied the percentage of women in various job categories in the financial industry from 1998 to 2021.
BNN Bloomberg: A coalition of more than 75 climate change-focused nonprofits want the biggest names in banking and fund management to “stop propping up Putin’s illegal war on Ukraine” by severing all financial ties with Russian energy companies.
Financial Post: According to U.S. climate envoy John Kerry and other Western leaders, the private sector will lead the battle against climate change given governments can’t raise enough money. Officials from Caribbean islands 1,750 miles south of Washington are less optimistic.
Axios: Gensler doesn't oppose funds whose strategies include a focus on environmental, social and governance issues. But he does want ways to measure and verify that funds are using ESG as more than a buzzword to attract investment.
Funds Europe: New research by the Impact Investing Institute has revealed the first estimate of the total size of the UK’s impact investment market.
Institutional Investor: In a recent study, index provider MSCI found that while women have started to take a fair share of board seats in companies with established diversity, equity, and inclusion programs, they are still far less present in the C-suite and the general workforce.
Hedge Week: The SBAI, a global alliance of alternative investment managers and allocators and custodian of the Alternative Investments Standards, has created a forum of alternative investment industry organisations committed to addressing diversity in the alternatives industry.