BNN Bloomberg: New proposals from the US Securities and Exchange Commission to crack down on money managers using misleading or deceptive fund names threaten to impact investing strategies of all stripes -- not just those focused on ESG issues.
U.S. News: Vanguard, the world's second-biggest asset manager, said it expects nine funds managing $290 billion to reach the world's climate goal by 2050 and be at least half way there by 2030, drawing criticism from campaigners for a lack of ambition.
Investment Executive: Federal financial regulators issued new guidance to address climate-related financial risks, including mandatory disclosure requirements. The Office of the Superintendent of Financial Institutions (OSFI) issued a new draft guideline Thursday that sets expectations for federally regulated financial institutions.
Quartz: Following the Parkland, Florida, school shooting that left 17 people dead, focus turned to the fact that BlackRock, the world’s largest asset manager, was the largest institutional shareholder of three publicly traded gun manufacturers, including the one that made the gun used in the Parkland shooting.
Northern Trust: As part of its long-standing commitment to ensuring diversity, equity and inclusion within the investment industry, Northern Trust Asset Management (NTAM) seeks requests for information from broker-dealers owned by minorities, women, veterans or people with disabilities – to provide trade execution services. Responses are due by Friday, July 29, at 5:00 PM CT.
Investment Week: Of the five countries surveyed (the United Arab Emirates, UK, Singapore, Switzerland and Australia), the UK and Switzerland were leading the way, both with 16.2% of hedge fund leadership in those countries being female.
FT Adviser: Some 35 per cent of 2,000 people surveyed said they expect their adviser to understand environmental, social and governance, with a further 23 per cent anticipating their adviser will bring ESG investing into financial planning discussions.
U.S. News: Leading U.S. environmental group the Sierra Club has warned BlackRock Inc it may pull a $12 million investment after the money manager said it would likely support fewer climate-focused shareholder resolutions at annual company meetings this year.
ESG Clarity: Asset managers are not providing their audiences with the information they want when it comes to sustainable investing, a Peregrine Communications study has once again found.
BNN Bloomberg: Conservatives have identified the popular investing strategy, which accounts for environmental, social and governance risks, as part of a broader narrative about left-wing overreach and “ wokeness” run amok.
U.S. News: Central bank policymakers and other global authorities are exaggerating the financial risks of climate change, a senior HSBC banker in charge of sustainable investments said in remarks that drew criticism from climate activists.
BNN Bloomberg: A benchmark ESG stock index has removed Tesla Inc., sparking a debate about which companies do — and don’t — pass muster with socially aware investors.
Investment Week: The UK's top climate funds are on course to contribute to a 4.5°C temperature rise by 2050, despite laying out net zero strategies, research from fintech Clim8 has found. Green' funds too are contributing to the climate crisis, pushing temperature rises past 3°C, according to Clim8.
U.S. News: BlackRock Inc, JPMorgan Chase & Co and other top financial firms have told a Texas official they are not boycotting energy companies, responding to a request for information that could determine if they are able to continue to manage state funds.
Hedge Week: About a third of hedge funds invest in ESG-dedicated strategies leading to investment demand being considered a ‘primary driver’ in improving ESG, research from BNP Paribas shows. One-fifth of investors plan to increase this in 2022 and a further 23 per cent are considering an investment.
BNN Bloomberg: Professional investors overwhelmingly prefer to use actively managed funds to deal with environmental, social and governance risks, according to a report from Capital Group that suggests the recent surge in passive ESG strategies may be at odds with industry needs.
Nasdaq: Environmental activists briefly disrupted BNP Paribas' BNPP.PA annual shareholder meeting in Paris, accusing France's largest listed bank of being Europe's main financing partner for the fossil energies sector.
Institutional Investor: In a joint survey between Chestnut Advisory Group and Pensions & Investments, 32 percent of institutional investor respondents and only 8 percent of asset manager respondents said they were happy with the current level of diversity at their firms.
Institutional Asset Manager: BlackRock has announced that a consortium of Limited Partners (LPs) and funds of funds have partnered in an effort to streamline and standardise ESG reporting for private markets.
BNN Bloomberg: Investors in his Voloridge Climate Change and Sustainability funds were told this week that the money would move into the firm’s main pool, according to a person with knowledge of the matter. The funds accounted for about 15% of Voloridge Investment Management’s $9.5 billion in total assets, the person said.
Financial Post: Private equity firm TPG Inc.’s climate investing arm and South Korea’s SK E&S are putting $410 million into a company seeking to curb agriculture emissions by building what may be the world’s biggest carbon-capture and storage project.
U.S. News: HSBC Holdings said on it was launching a $1 billion lending fund to invest in female-owned businesses over the next 12 months.
Yahoo News: UK hedge funds that are led by women perform slightly better than those led by men, which could be beneficial to the finance industry in the long term, a new study suggests. Britain has the highest proportion of female leaders at hedge funds compared to the United Arab Emirates, Australia, Singapore and Switzerland, according to research from trading platform IG Prime.
BNN Bloomberg: An investment fund launched last year by AQR Capital Management LLC outperformed the vast majority of its peers thanks to a long-short ESG strategy that shuns fossil fuels.
Institutional Investor: Some of the world’s largest institutional investors are still unsure about the prospect of net zero, even as voices arguing for sustainable investing have grown louder.
BNN Bloomberg: A Dutch investment firm with $118 billion under management has started blacklisting a number of assets from China, after developing a new screening tool to catch environmental, social and governance risks.
Hedge Week: 7/10 of UK adults, with at least one investment outside of their pension, say they would be more likely to choose an investment in a fund or organisation if they knew it was having a positive social or environmental impact, according to research from Big Society Capital.
BNN Bloomberg: Spain’s Seaya Ventures, which has invested in more unicorns than any other venture capital fund in the country, is raising a new fund focused on the sustainable economy and the energy transition.
3BL CSRWire: T. Rowe Price Group, Inc. (NASDAQ-GS: TROW), today announced it has joined the Net Zero Asset Managers initiative (NZAMI) to support the goal of net zero greenhouse gas emissions by 2050 or sooner, in line with global efforts to limit warming to 1.5 degrees Celsius.
BNN Bloomberg: Hedge fund boss Chris Hohn slammed ESG fund managers who claim they’re forcing companies to pollute less through so-called engagement strategies.
CNN: Stanford University announced Wednesday it is launching a new school later this year focused on climate change and funded by John Doerr, a renowned Silicon Valley venture capitalist.
Business Wire: Calvert Research and Management (Calvert), a subsidiary of Morgan Stanley Investment Management, today announced the European launch of a suite of responsible investing strategies focused on Environmental, Social and Governance (ESG) factors.
Yahoo Finance: Even with the worst April slump in the S&P 500 since 1970, money keeps pouring into ESG-labeled funds at a seemingly unrelenting pace.
Business Wire: Loomis, Sayles & Company announced today that Colleen Denzler, CFA, has been named the firm’s head of ESG (environmental, social and governance). Colleen, who is based in Boston, will report to David Waldman, chief investment officer.
IFA: Two-thirds of UK retail investors (66%) do not mind whether their investments are sustainable, according to the latest Investment Forces research from Charles Schwab UK. These investors are only focused on maximising returns.
BNN Bloomberg: The environmental group that authored a key proposal against fossil-fuel financing said pushback from the banks it targeted helped ensure the resolution failed.
BNN Bloomberg: Asset managers will no longer be able to exclude all passively invested funds when estimating their carbon footprint, if they want their emissions goals verified by the United Nations-backed Science Based Targets initiative.
Institutional Asset Manager: AXA Investment Managers is expanding its range of impact investing funds with the launch of a new listed equity strategy aimed at preventing biodiversity loss and preserving ecosystems.
Private Equity Wire: TPG, a global alternative asset management firm, has held the final close of TPG Rise Climate, a dedicated climate investing strategy of its global impact investing platform TPG Rise, at $7.3 billion.
BNN Bloomberg: Women are making hardly any progress in landing top jobs in the global finance industry, despite a steady drumbeat of pledges to diversify, according to a new report.
Cision: AEA Investors ("AEA"), a leading alternative investment manager specializing in middle market private equity and debt investments, and Amateras Capital ("Amateras"), a women-led investment platform focused on junior capital solutions across private credit and equity, announced a joint venture to leverage the power of female investment and operating talent and expertise to drive value creation and shift the gender paradigm in investing.
BNN Bloomberg: Over the next month or so, corporate executives will find out just how serious BlackRock Inc., Vanguard Group and State Street Corp. are about combating the climate crisis.
Institutional Investor: A focus on environmental, social, and governance issues isn’t giving asset managers the leverage to charge higher fees — at least those who invest in U.S. stocks.
Institutional Investor: Not surprisingly, for many asset managers, the amount of importance they place on environmental, social, and corporate governance in their investment analysis isn’t motivated solely by altruism.
BNN Bloomberg: Investors for Paris Compliance, a climate change activist group, is asking bond and loan industry trade associations to tighten principles used to issue environmentally-friendly labeled debt that they say currently enables some borrowers to effectively increase pollution.