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Reuters: Royal Bank of Canada released interim 2030 targets to cut carbon emissions linked to some of its loans, yet drew criticism from environmental campaigners for not going far enough.
ESG Clarity: With its ESG code of conduct set to be finalised by the end of this year, the Japan Financial Services Agency (JFSA) is making strides in the regulation of sustainable investing in the region.
BNN Bloomberg: The world’s most far-reaching set of ESG investment rules is facing a wave of criticism as regulators in Britain and the European Union publicly voice their misgivings.
Funds Europe: A third, or 33%, of investment required to meet net zero targets must be spent in the EU and US combined, according to BNY Mellon Investment Management (BNYMIM) research.
BNN Bloomberg: Environmental, social and governance investing has entered “Phase 3,” according to Markus Müller, the chief investment officer for ESG at Deutsche Bank AG’s private banking arm.
Financial Post: The strategy started gaining real attention in May after former Vice President Mike Pence criticized investor-activist campaigns aimed at forcing fossil-fuel giant Exxon Mobil Corp. to follow socially conscious investing principles.
ETF Stream: Amundi has outlined plans to merge two Lyxor ETFs with its Paris-aligned equivalents, the first such move since the asset manager completed the acquisition of its French rival in January.
Private Equity Wire: Private equity funds have accelerated the acquisition of European oil and gas assets, with 16 deals worth a combined £12 billion announced in the 12-month period ended 31 July 2022, according to data from global law firm Mayer Brown.
Financial Advisor: The number of new ESG funds is plummeting as asset managers put the brakes on repurposing existing products amid increased regulatory scrutiny.
CNBC: Robert F. Smith, chairman and CEO at Vista Equity Partners, said investing in businesses and managers that emphasize diversity, equity and inclusion remains vital, especially in a bear market.
Mondaq: When it comes to tackling global challenges, from climate change to population growth, it's not just activists, politicians and scientists who are seeking to bring about urgent action – the financial services industry also has an important role to play.
Institutional Investor: ESG investors want to see the results of putting their money into companies that claim they are helping to curb fossil fuel emissions or promote clean energy — but the data that is available rarely allows for that.
BNN Bloomberg: The former Microsoft Corp. chief executive officer, along with his wife Connie, are putting money toward a fund-of-funds strategy with Goldman Sachs Group Inc. and Fairview Capital, according to a statement on the Ballmer Group’s website.
U.S. News: BlackRock, the world's biggest asset manager, told a British parliamentary committee that it will not stop investing in coal, oil and gas, and that its role was not to "engineer a specific decarbonization outcome in the real economy."
BNN Bloomberg: Engine No. 1, the investment firm that scored a victory over Exxon Mobil Corp. last year, has spoken with executives at Coca-Cola Co. about plastics recycling, according to a person with knowledge of the firm.
Institutional Investor: Environmental, social, and governance issues have become a top priority for many asset owners in the past few years. But returns continue to be the most important consideration when it comes to the investment process.
Mergers & Acquisitions: Environmental, Social and Governance (ESG) strategies have catapulted to the top of private equity’s focus, largely because institutional investors are increasingly clamoring for them when considering an allocation to their funds.
ESG Clarity: A US activist group affiliated has criticised fund giant Vanguard over the company’s stewardship report, which allegedly falls short of meaningful ESG disclosures.
Nasdaq: More companies provided climate-related financial data to investors during 2021 but urgent progress is still needed, the G20's Taskforce on Climate Related Financial Disclosures (TCFD) said.
Funds Europe: The European Commission has been urged to develop an EU regulatory framework for ESG ratings by the voice of the European investment management industry.
Business Times: Tan’s new role is an addition to her current position as assistant managing director (development & international), a title she has held for the past two years. She will replace Dr Darian McBain, who is leaving MAS in December.
CSA: The Canadian Securities Administrators (CSA) is actively considering international developments and how they may impact or further inform the proposed climate-related disclosure rule published in October 2021.
U.S. News: Larry Fink, chief executive of the world's biggest asset manager BlackRock Inc, on Wednesday defended his firm's energy investments after facing a backlash from lawmakers critical of its stance on environmental, social and governance (ESG) issues.
Yahoo Finance: A year after California Public Employees’ Retirement System and Carlyle Group Inc. started an effort to collect sustainability data on private equity, 215 investors have joined as they seek to determine how it will shape returns moving forward.
Cision: AllianceBernstein Holding L.P. (NYSE: AB) and AllianceBernstein L.P., a leading global investment management and research firm, announced Erin Bigley has been named as the firm's Chief Responsibility Officer.
Institutional Investor: Forty-eight percent of asset management CEOs plan to pause or reconsider their ESG efforts over the next six months, according to KPMG’s 2022 U.S. CEO Outlook, which is expected to be published. Thirty-one percent of the CEOs said they had already done so.
BNN Bloomberg: Banks with more gender-diverse boards lend less to more environmentally harmful companies, according to research by the European Central Bank.
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