Financial Standard: Looking at the statement provided to Longo, the committee said: " ... the investigation found that many of the instances of [Chester's] alleged conduct could be wholly or partially substantiated as to the fact that specific things occurred, although in many cases recollections differed about specific conduct and substance and significance."
BNN Bloomberg: European Union efforts to address criticism of its ESG investing rulebook are being challenged by the financial supervisory authority of France.
XM: Britain's financial regulator should rethink its plan to tackle greenwashing because it risks disrupting markets and could damage faith in sustainable investing, the head of an investment managers' industry group said.
ESG Clarity: Failure in progressing the Sustainable Development Goals (SDGs) is becoming a broken record. Every year, more capital is seemingly allocated to achieving them, yet every year we seem to move further from them. But investors are still keen to use the SDGs and more sophisticated approaches are emerging.
Yahoo: HSBC Holdings Plc is adding “greenwashing” to a list of risks it says have the potential to affect a bank’s access to capital markets.
BNN Bloomberg: China is planning to make ESG disclosures compulsory as part of efforts to shift to a lower-carbon economy, according to people familiar with the matter.
CNBC: Republican lawmakers who railed against “woke capitalism” in the 2022 midterm elections have taken tens of thousands of dollars in campaign donations from some of the same Wall Street money managers they have attacked for pushing what the GOP calls “far-left” positions on environmental, social and corporate governance issues.
Yahoo Finance: The World Bank raised $50 million through a bond structure it describes as unique and free from greenwashing — a growing concern among investors — and said it is lining up more of these deals for later this year.
ESG Today: Investment manager Allianz Global Investors (AllianzGI) warned today that it will begin this year to vote against directors of large cap European companies that fail to integrate ESG performance metrics into executive pay policies.
Environmental Finance: January 2023 marks four years since RBC Capital Markets launched its Sustainable Finance Group. As the team reflects on the tremendous evolution across the sustainable finance market during this time, they review the key themes that could define progress in the year ahead.
BNN Bloomberg: A wave of job cuts that’s swept through the global finance industry hasn’t affected demand for ESG specialists, where hiring growth continued through 2022, according to a study by Barclays Plc.
IEA: Fossil fuel consumption subsidies worldwide soared in 2022, rising above USD 1 trillion for the first time, according to new IEA estimates, as turmoil in energy markets sent fuel prices in international markets well above what was actually paid by many consumers.
Harvard Business School: The impact-investment hedge fund Engine No. 1 made a big splash in May 2021 when it managed to get three nominees elected to the ExxonMobil board of directors. It was an open effort to prod the oil giant toward renewable energy and test whether activist investing could make a difference.
Private Equity Wire: Strong and effective ESG policies can support GPs’ fundraising efforts by showing they are willing to go above and beyond for their investors and are also in touch with how new developments can impact their investment decisions.
Yahoo Finance: Earlier this month, the New York-based investment bank introduced six ESG products. The equity and fixed-income exchange-traded funds are managed by Calvert Research and Management, a leader in environmental, social and governance investing that Morgan Stanley acquired in 2021 as part of its purchase of Eaton Vance Corp.
Mintz: In recent years, companies and investment managers have increasingly considered environmental, social, and governance (“ESG”) issues in corporate strategy and decision-making, whether in response to investor pressure or due to self-imposed changes via internal processes.
Institutional Investor: Critics often blame vaguely defined bad governance for the poor outcomes at many endowments, pensions, and other institutions.
CNBC: The Securities and Exchange Commission will increase its scrutiny of crypto-trading firms and investment advisors as well as Environmental, Social and Governance — or ESG — funds, among other issues on its list of top oversight priorities for 2023.
BNN Bloomberg: As one of the world’s top-performing coal companies embarks on an expansion plan, investors who have pledged to target a low-carbon future are helping finance its growth.
Funds Europe: A group of asset owners and managers say a newly launched framework will deal with the "analysis dearth" regarding data about sovereign bond issuers and their emissions, climate policies and opportunities to mitigate climate risks.
BNN Bloomberg: Sustainalytics has downgraded the ESG scores of several Adani Group companies, following a report by a short-seller raising concerns about corporate governance at the conglomerate last month.
US News: A group of European institutional investors is backing a novel London lawsuit against energy giant Shell's board over alleged climate mismanagement in a case that could have far-reaching implications for how companies tackle emissions.
BNN Bloomberg: Investment managers are cooling to indexes that were once viewed as a safe ticket to the highest ESG fund designation. Climate-transition and Paris-aligned benchmarks, intended by the European Union to help fund managers track some of the world’s cleanest assets, have had a bad run in recent months.
BNN Bloomberg: Cash flows into US sustainable funds plummeted last year as the broader market took a beating and anti-ESG crusaders targeted money managers including BlackRock Inc. for “woke capitalism.”
Funds Europe: Questionable decarbonisation reporting by the UN-convened alliance of institutional investors committed to net-zero emissions could thwart efforts to reverse global warming, it is claimed.
Funds Europe: The European Securities and Markets Authority (Esma) has backed the first set of draft European Sustainability Reporting Standards (ESRS Set 1), stating the regulations, which are meant to increase the quality of information in sustainable investing, are “broadly capable” of meeting investor protection, stability and sustainability objectives.
PR Newswire: AE Industrial Partners, LP ("AEI" or the "Firm"), a U.S-based private equity firm specializing in aerospace, defense and government services, space, power and utility services, and specialty industrial markets, announced that Jennifer Essigs has been promoted to Head of ESG, in charge of spearheading the Firm's increased commitment to supporting ESG initiatives at both the Firm and its portfolio companies.
Nasdaq: Britain's accounting watchdog said it will monitor whether auditors were making spot checks on their compliance with environmental, social and governance (ESG) reporting requirements in company audits.
Morningstar: There were more dramatic changes in the way ESG funds were classified last year, and the final quarter of 2022 saw the biggest downgrade of the strictest sustainable funds since new disclosure rules came into place in 2021.
The Hill: House Republicans are creating a new working group to further their pushback against environmental, social and governance investing, known as ESG. A press release from the House Financial Services Committee announcing the group said it will be aimed at combating what they described as a “threat to our capital markets.”
PR Newswire: More than 80% of U.S. investors say that companies need to more openly communicate the risks and opportunities that shape their standing as "responsible investments" – and 73% also say they are more likely to invest in a company that shares with investors its plans for effectively managing those factors.
ESG Clarity: If it seems to you that the general question of “why does ESG matter?” is repeatedly asked, then that is a good indicator of its increasing prominence across the alternative assets industry.
ESG Clarity: UK regulator The Financial Conduct Authority (FCA) will be testing asset management firms on whether they deliver on their ESG claims.