BNN Bloomberg: ESG rules in the UK look set to make life harder for firms marketing index-tracking and other passively managed strategies, according to lawyers advising the investment industry.
Yahoo News: Bridgewater Associates LP, the world’s biggest hedge fund manager, is taking a swing at the issue of climate-conscious investing.
ESG Clarity: Sustainable Banking Report 2022, developed in partnership with PwC, found more than 90% of 3,000 investors we surveyed want to allocate funds into sustainable investments. We calculated that in just 10 growth markets, this could translate into $8.2trn of AUM in sustainable investments by 2030.
BNN Bloomberg: The JPMorgan Chase & Co. investor behind a push for the firm to conduct a racial equity audit criticized the resulting report released last month as containing “several deficiencies.”
U.S. News: China plans to tighten rules to regulate environmentally friendly, or so-called green funds, as part of its efforts to rein in 'greenwashing' in the world's second-largest climate fund market, sources with direct knowledge of the matter said.
ESG News: General Atlantic, a leading global growth equity firm, announced the final close of its inaugural BeyondNetZero fund. Following the fund’s close, General Atlantic has a total of approximately $3.5 billion in capital to invest in climate solutions.
Yahoo Finance: BlackRock plans no major changes to the way it engages with companies and votes on environmental and social issues in the year ahead, despite a backlash against its stance on climate change from some U.S. Republican politicians.
BNN Bloomberg: After a turbulent few weeks during which some of the world’s biggest asset managers removed coveted ESG tags from huge chunks of their business, industry bosses have had enough.
BNN Bloomberg: Texas lawmakers grilled finance industry executives they summoned to a remote corner of the Lone Star State for a hearing, questioning whether their environmental, social and governance policies are hindering state pension investments.
Financial Advisor: In the past five years, the world’s sustainable finance markets have expanded from niche products a decade ago, to more than one and half trillion dollars of bonds and loans issued last year. Investors have also allocated hundreds of billions of dollars to ESG-focused equity and debt exchange-traded funds.
Mondaq: In 2023, we expect environmental, social and governance (ESG) concerns to be a driving force in M&A and divestment activity, particularly as pressure mounts for carbon-intensive oil companies to rationalise their portfolios.
FCA: Earlier this year the FCA Board agreed to establish a new ESG Advisory Committee to help execute its ESG-related responsibilities. This includes meeting the Government’s expectation that we 'have regard' to the UK’s commitment to achieving a net zero economy by 2050, when considering how to advance and achieve our objectives and functions.
Eiopa: The European Insurance and Occupational Pensions Authority (EIOPA) published today the results of its climate stress test of European Institutions for Occupational Retirement Provisions (IORPs).
Euronews: Pension funds across the European Union would lose billions of euros from their investments in polluting industries without action to mitigate the impact of climate change, the bloc’s first stress test of its kind showed.
The Times of India: The ESG risks of an investment can have a significant impact on the performance and value. Investors need to look at these risks before capital investment.
Campden FB: According to Campden Wealth and Raffles Family Office’s Asia-Pacific Family Office Report 2022, 42% of family offices are now engaged in sustainable investing, with 29% of their portfolios dedicated to sustainability (up 4% from 2021 and 2% higher than the global average).
ETF: Exchange-traded fund companies are issuing more environmental, social and governance-focused funds, despite pushback from politicians and investors who claim the label is restrictive and crimps returns, a survey has found.
BNN Bloomberg: Japan will soon be the first country to issue guidelines for ESG data and ratings providers as global regulators step up scrutiny of firms that measure companies on their environmental, social and governance practices.
Yahoo Finance: PwC Canada unveiled its second Canadian ESG reporting study that assessed the ESG maturity of Canada's top 250 publicly traded companies, as measured by revenue and market capitalization.
BNN Bloomberg: Investment bankers working on mergers and acquisitions need to review their due diligence processes to ensure deals aren’t upended by an evolving set of ESG risks, according to Berkeley Research Group.
Nasdaq: Vanguard is pulling out of a major investment-industry initiative on tackling climate change in order to show that it acts independently and to provide clarity on its views to investors, the world's top mutual fund manager said.
BNN Bloomberg: The chief executive of Deutsche Bank AG’s investment unit, DWS Group, said it’s time to dial back the “exuberant” language used in ESG sales pitches.
Yahoo Finance: Funds linked to environmental, social and governance principles are by definition supposed to minimize risks tied to those three factors. In 2022, the approach did little to help protect investors from the brutal slide in the financial markets.
BNN Bloomberg: Bluebell Capital Partners is calling on BlackRock Inc. to replace Chief Executive Officer Larry Fink over what it says are his failures to move the world’s largest money manager beyond investments in fossil fuels.
BNN Bloomberg: Republicans in the US Senate are amping up efforts to rein in BlackRock Inc., State Street Corp. and Vanguard Group Inc. on environmental, social and governance issues — a preview of a fight looming when the GOP takes control of the House next month.
BNN Bloomberg: The asset management units of Deutsche Bank AG and BNP Paribas SA are adding to a tidal wave of ESG fund downgrades, bringing industry assets under management to have been hit by such reclassifications to well over $100 billion.
U.S. News: Florida's chief financial officer said on Thursday his department would pull $2 billion worth of its assets managed by BlackRock Inc, the biggest such divestment by a state opposed to the asset manager's environmental, social and corporate governance (ESG) policies.
Yahoo Finance: Republicans are pressing to get rid of it, regulators are cracking down on the misselling of ESG-labeled funds and bonds, and sustainable investing purists want to eliminate the acronym altogether. It’s also become less of a talking point for corporate executives.
ESG Clarity: After talks at COP27 barely kept the 1.5 warming limit alive and ended with reiterated calls to accelerate climate action, we take stock of the ever-expanding options available to investors looking to reduce climate-related risks in their portfolios and/or take advantage of opportunities arising from the transition.
Forbes: Environmental, social and governance (ESG) issues have become a significant focus across the financial markets. However, much of the commentary and focus have been on ESG in the public markets. In reality, ESG is just as much of a focus in the private markets as well.
Fitch Ratings: A spate of high-profile regulatory findings against how asset managers operate ESG funds and present them to clients highlights the regulatory risk associated with such funds, Fitch Ratings says. Last week, Goldman Sachs agreed a USD4 million settlement with the SEC over charges against the bank’s asset-management division for failures in ESG investment policies and procedures.
Forbes: With so much volatility in the markets, investors have been left with virtually nowhere to hide, but hedge funds have demonstrated how they can protect capital during periods of upheaval. The Eurekahedge Hedge Fund Index is down 5% year to date through October, compared to the S&P 500's decline of 17%.