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Nasdaq: MetLife Investment Management or MIM, the institutional asset management business of MetLife, Inc. (MET), announced Monday that it has entered into a definitive agreement to acquire Affirmative Investment Management or AIM, a specialist global ESG impact fixed income investment manager with deep capabilities in impact investing, verification, reporting and engagement.
Axios: Wall Street giants have a Texas-sized problem: making good on flashy vows to make clients' investments greener while limiting political and financial blowback from red states.
Institutional Investor: Frances Haugen chose to join Facebook after a family member became radicalized online. She wanted to help make the social media platform less toxic. As she would later testify before Congress, however, she found that she had joined a company that persistently put profit before the broader social good.
BusinessWorld: SUSTAINABILITY officers from different companies — Metro Pacific Investment Corp. (MPIC), Prime Infrastructure Capital, Inc., and Maynilad Water Services, Inc. — have highlighted the importance of government incentives in achieving sustainability.
FCA: The Financial Conduct Authority (FCA) is establishing a new advisory committee to the FCA’s Board to work on Environmental, Social and Governance (ESG) issues, and is looking for expressions of interest from stakeholders to join.
Yahoo Finance: Florida Governor Ron DeSantis is the latest Republican politician to take aim at environmental, social and governance investment strategies by eliminating such considerations for the state pension funds.
BNN Bloomberg: Vanguard Group Inc. is expanding its offering of passive ESG funds in Europe, betting its approach of excluding controversial industries will appeal to investors confused by other more complex products touting environmental, social and governance metrics.
360: Federated Hermes, a champion of eco-friendly investment strategies, is coming under increasing pressure to explain its sponsorship of a coalition of senior U.S. officials opposed to climate change.
BNN Bloomberg: Almost a quarter of funds that claim to “promote” sustainability under European regulations don’t deserve an “ESG” label, according to a fresh review by market researcher Morningstar Inc.
BNN Bloomberg: Buoyed by corporate and government pledges to cut greenhouse gas emissions, a record $1.4 billion poured into climate and carbon-focused startups in the second quarter of this year. That’s in stark contrast to the broader market for venture funding, which faces its largest quarterly percentage drop in nearly a decade, according to CB Insights.
Professional Pensions: Trustees are facing challenges over the lack of long-term performance track records for sustainable funds as well as issues with the availability of such strategies, latest research finds.
BNN Bloomberg: A number of sustainable investing champions say it’s time for the “ESG” label to be shelved and replaced by something less likely to draw attacks from both the political right and left.
Hedge Week: Hedge fund short sellers have again been betting against fashion retailers Asos and Boohoo following an investigation into greenwashing at the two companies by the Competition and Markets Authority (CMA), according to a report by Charged.
abrdn: Leading global asset manager abrdn is pleased to announce the launch of the abrdn Sustainability Institute, Americas and the appointment of Fionna Ross as Sustainability Investment Specialist & Head of the Sustainability Institute, Americas.
Hedge Week: The Managed Funds Association (MFA), a trade association for the global alternative asset management industry, has submitted a comment letter to the US Securities and Exchange Commission (SEC) in response to its proposed rule to enhance disclosures of ESG investment practices by investment advisers.
Institutional Investor: Investors who exclude sin stocks from their portfolios, hoping to hurt these companies’ valuations and access to capital, may be disappointed in the actual impact.
Funds Europe: Dutch asset manager NN Investment Partners (NNIP) has called on the industry to take active steps towards curbing excessive executive pay and use remuneration to encourage long-term sustainable behaviour.
BNN Bloomberg: Investors at G2 Venture Partners, a Silicon Valley firm that backs climate technology, spent this week poring over the Inflation Reduction Act, the US Senate’s landmark climate bill that is expected to be up for a vote Friday in the House of Representatives. It was an exercise in cautious optimism.
Yahoo News: Vistria Group, an investment firm that aims to achieve both positive social change and investor returns, is exploring the sale of a stake, people with knowledge of the matter said.
Business Wire: Angelo Gordon, a $50 billion alternative investment firm focused on credit and real estate investing, has joined Novata’s General Partner (GP) Advisory Committee. Novata, a public benefit corporation backed by the Ford Foundation, Hamilton Lane, S&P Global and Omidyar Network, is the leading ESG data management platform built for the private markets.
Yahoo Finance: To Blake Masters, the newly minted Republican Senate nominee in Arizona, ESG scores are an existential threat to the US economy along with inflation -- an issue worth campaigning on as ardently as securing the border, preventing voter fraud and challenging Big Tech.
BNN Bloomberg: Much has been written about how Vladimir Putin’s February invasion of Ukraine raised geopolitical questions about why ESG-focused funds were even invested in Russia. Then markets tanked, with many huge ESG funds getting slammed for posting losses worse than those suffered by benchmarks, thanks to their massive holdings in beat-up tech stocks.
JDSupra: About a year ago, the Brookings Institution held a panel discussion regarding the role that the SEC should play in ESG investing and invited SEC Commissioner Hester Peirce to speak at the panel.
BNN Bloomberg: Texas Attorney General Ken Paxton said Monday that he joined a group of Republican state officials accusing BlackRock Inc. Chief Executive Office Larry Fink of relying on sustainable investments instead of shareholders’ profits.
NY Post: Marc Andreessen, the billionaire tech investor, urged local officials in his exclusive Bay Area town not to build affordable housing for fear it would devalue his own property — even as he publicly railed against “crazily skyrocketing housing prices,” according to a report.
Investor Daily: Acadian Asset Management has announced it has developed an automated system to help identify greenwashing in potential investment targets.
BNN Bloomberg: New York City Comptroller Brad Lander, who helps oversee about $240 billion in pension funds, said efforts by conservative US states to thwart the financial industry’s plans to address climate change are just a cover to defend the interests of oil companies.
Business Wire: Northern Trust Asset Management (NTAM), one of the world’s leading investment managers, has expanded its suite of responsible quantitative investment solutions, with the launch of the NT World Quality ESG Strategy, which has been available for U.S. investors since 2015.
IEEFA: Australian pension fund NGS Super said it had sold all its holdings in oil and gas companies, worth A$191 million ($133 million), in a drive to achieve a portfolio with net zero carbon emissions by 2030.
BNN Bloomberg: There’s been much debate about which letter matters most to investors in the abbreviation ESG. Numerous surveys have been done on the topic, with many concluding that the “E” for environmental carries the most weight.
Private Equity Wire: Global investment firm Carlyle's Global Credit platform has launched a decarbonisation-linked financing programme, providing an incentive for borrowers to reduce greenhouse gas (GHG) emissions or achieve other climate-related targets.
Private Equity Wire: The proportion of female investment professionals working at private equity (PE) and venture capital (VC) firms across Europe now stands at 20%, according to Level 20, However, that figure falls to just 10% when looking at women employed in senior level positions.
Funds Europe: Article 9 funds have gained popularity over their Article 8 counterparts, recording inflows of €5.9 billion in the second quarter of 2022.
Yahoo Finance: A new set of EU rules coming into force will put fresh pressure on asset managers as they seek to steer everyday retail investors around the complexities of sustainable investing.
BNN Bloomberg: Funding for UK female-driven fintechs dropped by two-thirds in the first half of this year compared with the same period last year, widening the gender investment gap in the male-dominated industry.
U.S. News: Three quarters of the world's sovereign wealth funds now have a formal policy on environmental, social and governance investing, yet just 30% have set a target to reduce carbon emissions across their investments, a study on Wednesday showed.
Private Equity Wire: A clear majority (85%) of investors in alternative investments are integrating ESG criteria into their investment decisions, an increase of 10% points over the last three years, according to new research from LGT Capital Partners.
U.S. News: BlackRock Inc, the world's No.1 asset manager, reported a sharp drop in its support for environmental and social-related shareholder resolutions, saying many were too prescriptive, while its backing for directors and executive pay held steady.
BNN Bloomberg: The head of multi-asset strategies at Robeco Institutional Asset Management is questioning the appropriateness of betting on commodities price gains given the current geopolitical climate.
Funds Europe: More than half of fund managers are still to provide relevant data for ESG products to meet the MiFID II regulatory deadline of August 2, a tech firm claims.
Hedge Week: As hedge funds’ compliance teams get to grips with a byzantine array of plans from market authorities on both sides of the Atlantic, wider economic and political developments are continuing to recalibrate the investment and regulatory environment.
BNN Bloomberg: The Carbon Evolution Fund will trade securities such as California Carbon Allowances and derivatives tied to the Regional Greenhouse Gas Initiative and European Union Allowances for emissions, said a person with direct knowledge of the new offering from Kepos Capital.
Wealth Professional: Investors engaged in accomplishing environmental, social, and governance objectives have favoured shareholder activism and divestment as their preferred strategy. However, it may also be beneficial to take short positions on businesses that violate ESG regulations.
BNN Bloomberg: The first was billed as an “impact” investment, the second as an “ESG” investment and the third as “sustainable” investment. In fact, those three BlackRock Inc. mutual funds started out as the same fund—one that was marketed and re-marketed under different names at different times as Wall Street sold the idea of investing with a social purpose.
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