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Independent.ie: Amundi and Deutsche Bank's DWS Group are downgrading billions of dollars worth of ESG funds, adding to the sense of disarray that's spreading across Europe's asset management industry as it digests stricter regulatory guidance.
BNN Bloomberg: A lack of reliable ESG data in emerging markets is proving a boon for some of the heavyweights of global finance.
The Hill: The Biden administration is making it easier for money managers to consider climate change and other environmental and social factors in retirement investments.
S&P Global: Private equity and venture capital-backed deals in the energy efficiency sector totaled $31.79 billion across 280 deals worldwide as of Nov. 14, according to S&P Global Market Intelligence data.
PitchBook: While private equity firms aren't required to disclose their environmental, social, and governance practices, they have increased their transparency voluntarily over the last two decades, and it has led to better returns for investors.
FCA: As financial services firms integrate ESG into their activities and expand their ESG-focussed products, they are increasingly reliant on third party ESG data and ratings services.
Funds Europe: Morgan Stanley Investment Management (MSIM) launches 1GT growth-oriented private equity platform focused on companies aiming to mitigate climate change.
ESG Clarity: Fund general partners (GPs) in Asia are putting themselves at risk of greenwashing accusations, according to a new report from law firm Morrison & Foerster in conjunction with private equity intelligence provider AVCJ.
Harvard Business Review: The largest mainstream institutional investors and the rating agencies that serve them now say they consider high quality Environmental, Social, and Governance (“ESG”) practices by corporations to be necessary for sustainable, long-term wealth creation—a position that has generated academic and political controversy.
Private Equity Wire: The report cutes sources familiar with the matter as saying that Carlye began raising capital for Carlyle Renewable & Sustainable Energy Fund II earlier this year, which it achieves its target size, will be twice the size of its $800 million predecessor fund.
Financial Post: Environmental concerns have dominated the conversation when it comes to ESG risks, but the growing focus on the “social” component is prompting a search for ways to better assess corporate performance on issues ranging from diversity to employee mental health to human rights.
Funds Europe: Russell Investments' latest ESG survey indicated that data limitations and non-standardised reporting frameworks constitute the biggest challenges for investment managers.
BNN Bloomberg: A Bloomberg News survey of ESG-related issues found that 53% of 550 Terminal users want more rules to help them tackle environmental issues. The picture varies across regions, with Europeans more in favor of extra regulations than Americans, while both regions gave green issues priority over social or governance matters. In Asia, where efforts to regulate ESG are trailing those in Europe and the US, a majority of survey respondents wanted more rules across the board.
Yahoo Finance: The about-face came as UK pension managers reallocated funds in response to the economic shock triggered by the proposed reforms under then prime minister, Liz Truss. Much of that cash made its way into money-market funds that carry the EU’s weakest ESG designation, known as Article 8.
BNN Bloomberg: The head of Canada’s $400 billion pension fund said he’s willing to cut ties with firms that aren’t committed to their net-zero targets.
Yahoo Finance: Dimensional Fund Advisors, the Austin, Texas-based firm with nearly $600 billion in assets under management, added a new exchange-traded fund to its new lineup of sustainable products. The launch comes after the firm introduced its first set of green ETFs earlier this month.
The Globe and Mail: As environmental, social and governance (ESG) issues factor into more investment decisions, critics say one element is often overlooked: the human rights records of businesses.
ESG Clarity: The global financial system is not fit for purpose and will need a “bold change” in order to combat the climate crisis, the CEO of Aviva Investors, Mark Versey has said.
BNN Bloomberg: BlackRock Inc. is removing Europe’s top ESG designation from a string of exchange-traded funds, after the EU provided updated guidelines to the asset management industry.
ETF Stream: Invesco is the latest heavyweight European issuer to downgrade its entire Article 9 Paris-aligned benchmark (PAB) ETF range after ETF Stream revealed BlackRock and UBS Asset Management are lining up a raft of downgrades for their strategies.
BNN Bloomberg: The debate over whether investing with ESG principles in mind makes money is one that’s grown in recent years as the global market for sustainable funds has ballooned to more than $2.2 trillion.
Private Equity Wire: How are private companies performing on meaningful environmental, social and governance (ESG) metrics? How is the ESG performance of these companies changing over time? And how does their progress on ESG link to their financial results?
Yahoo Finance: German asset manager DWS Group launched a trio of exchange-traded funds that tap into growing demand for environmental, social and governance investing.
Private Equity Wire: A group of leading alternative asset managers and industry bodies in the private and broadly syndicated credit markets have launched the ESG Integrated Disclosure Project (ESG IDP) template.
Forbes: Environmental, social and corporate governance (ESG) has become one of the most discussed, debated and buzz-worthy topics of the past several years. Organizations face significant and growing demand to raise their standards and accountability across an array of issues that are widely viewed as ethical imperatives.
BNN Bloomberg: Heavyweight creditors including Apollo Global Management Inc. and Oak Hill Advisors are making a high-level push to encourage borrowers in the loan market to increase disclosures on everything from carbon emissions to board diversity.
ESG Clarity: Asia Pacific investors are looking at China, rather than the US or Europe, as their most favoured destination for ESG investments over the long term, according to a survey from JP Morgan Asset Management (JPMAM).
BNN Bloomberg: Known as Article 9, the designation may be stripped from hundreds of funds in the coming months, industry estimates show. There are now signs that investment clients are starting to retreat, as fresh data points to a marked slowdown in flows. And on Thursday, a report indicated that some Article 9 funds hold assets that may violate UN and OECD standards on everything from bribery to environmental damage.
Private Equity Wire: Investec’s 12th annual GP Trends Survey, which took place between June and August 2022, showed that the vast majority (90%) of more than 150 GPs believe that their ESG credentials will influence the likelihood of LPs committing capital to their funds, with 40% of the 90% expecting it to matter to a ‘great extent'.
BNN Bloomberg: Canada is considering furthering its reach in ethical securities, after making its debut in the green bond market earlier this year.
Private Equity Wire: Novata, an ESG data management platform built for the private markets, is to provide ESG measurement and analysis support services for some of Ares Management's (Ares) direct lending strategies.
Yahoo Finance: The current challenges to ESG investing won’t stop investors’ focus on environmental, social and governance considerations, UBS Group AG chairman Colm Kelleher said at the Hong Kong Global Financial Leaders’ Investment Summit.
BNN Bloomberg: The Windy City's retirement fund said it plans to sell all $350 million of its fossil-fuel holdings by the end of 2027, or invest enough in clean energy to fully offset its stakes in oil, gas and coal.
Yahoo Finance: As an ESG fund class facing mass downgrades attracts vast client flows, industry insiders confess they don’t understand why investors aren’t being more cautious.
Cision: Large US companies are increasingly linking executive compensation to some form of ESG performance, with the share growing from 66 percent in 2020 to 73 percent in 2021. At the same time, just a minority of polled corporate executives say including ESG (environmental, social, and governance) performance goals in executive pay is very important in achieving their ESG goals.
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