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Yahoo Finance: Corporations relying on carbon credits to support their green claims now face “robust and credible” proof that the vast majority of such securities aren’t fit for purpose, according to a study published in the journal Science.
ETF Stream: How ESG ETFs react to a company’s future transgressions has been thrown into the spotlight after fossil fuel major ConocoPhillips announced plans to double its interest in a Canadian oil sands facility.
Funds Europe: Over 90% of executives are planning to increase their expenditure in ESG, according to a new report. The 'ESG Data Acquisition & Management Survey 2023', conducted by Bloomberg and Adox, revealed that 92% of executives intend to augment their ESG (environmental, social and governance) expenditure by at least 10%.
VCCircle: Top asset manager BlackRock reported a further decline in its support for shareholder resolutions on environmental and social themes, citing corporate progress on the areas and poor crafting of the measures by filers.
PR Newswire: The demand for ESG data is on the rise, according to a new Bloomberg and Adox Research survey of more than 100 portfolio managers, climate risk executives, and data management executives.
GreenBiz: Investors know carbon pretty well: how to measure it, assess its impacts and incorporate it into investment-decision making.
ESG Clarity: Private sector investor participation in managed phase-out (MPO) projects is essential for scaling up early coal retirements in the Asia-Pacifc region, according to analysts at Sustainable Fitch, but asset managers remain wary.
Funds Europe: Only 1.5% of global investment funds are aligned with the Paris Agreement's ambitions to arrest global warming below 1.5 degrees Celsius, revealed Clarity AI data.
ESG Clarity: KKR, a global investment firm, has hired a co-head for the firm’s global climate strategy, rounding out a refreshed leadership team focused on climate-related investments as part of KKR’s infrastructure platform.
ESG Clarity: Both the JP Morgan Global Research Enhanced Index Equity SRI Paris Aligned Ucits ETF (JSEG) and US Research Enhanced Index Equity SRI Paris Aligned Ucits ETF (JSEU) will sit within the $7bn (£5.5bn) Research Enhanced Index platform.
BNN Bloomberg: The US backlash against investment strategies that incorporate environmental, social and governance issues is forcing borrowers to be more thorough when labeling bonds, a positive development for the $6 trillion ethical debt market, according to Morgan Stanley.
ETF Trends: Advisors and investors are hearing more and more about efforts to better regulate investment products, including exchange traded funds, positioned as environmental, social and governance (ESG) offerings.
CDP: Financial institutions (FIs) are failing to account for nature-related dependencies, risks and opportunities in their financial decision-making, according to ‘Nature in Green Finance’ – a newly launched report by CDP.
ESG Clarity: The significant increase in reporting requirements driven by fund labelling has created substantial challenges for fund managers launching sustainable and impact investing-focused strategies.
Investment Week: The figure marks an 18% increase on the same period last year, although issuance by number dropped 10% to 484 green bonds brought to market, according to LSEG Deals Intelligence.
BNN Bloomberg: S&P Global Inc.’s surprise decision to stop providing ESG scores alongside bond-issuer assessments has created a divide at the top of the credit-ratings market, as Moody’s Investors Service and Fitch Ratings say they won’t follow suit.
Investment Week: The FT reported that SEC lawyers had subpoenaed various fund managers regarding ESG disclosures. The move pointed to a potential tightening of the rules around ESG investing, or action against those fund managers found not to be following them.
BNN Bloomberg: Bankers, money managers and other financial market participants are starting to loathe the label “ESG” — but they’re also sticking with the strategy, according to a Bloomberg survey.
Forbes: Environmental, social and corporate governance (ESG) programs have become essential for businesses today.
BNN Bloomberg: Norway’s $1.4 trillion wealth fund is backing a European Commission proposal to overhaul the ESG ratings industry amid concerns that a lack of transparency and consistency among score providers is undermining confidence.
GreenBiz: InfluenceMap, a think tank that maintains a database following large companies and investors’ lobbying activity related to climate policy, shared its assessment of 45 of the world’s largest asset managers.
BNN Bloomberg: A new climate tech venture capital firm with a focus on early stage startups that promise to help stabilize the planet has launched.
ESG Clarity: BlackRock is aiming to raise NZ$2bn for a New Zealand-focused strategy that will allow private investment in New Zealand’s transition to a low-carbon economy.
Investment Week: Since 2021 the debt rating agency has used a scoring system of one to five to denote a company's ESG-related risk. Five is the lowest grade exposure, one is the highest.
ESG Clarity: Nordea Asset Management has renamed and broadened the scope of its Nordea 1 Global Gender Diversity fund to expand its investment universe and focus on engagement.
CFO Dive: Eighty Democrats in the House of Representatives urged SEC Chair Gary Gensler to quickly push through adoption of a proposed rule mandating that companies disclose their carbon emissions and risks from climate change.
Investment Week: Thunberg was supposed to appear at the Edinburgh International Book Festival at a panel on climate change scheduled for August 13, but pulled out of the event on August 4. Baillie Gifford is the lead sponsor of the festival.
ESG Clarity: Fidelity International has appointed Jenn-Hui Tan as its chief sustainability officer – a new role for the business. Tan, who was previously global head of stewardship and sustainable investing, will be responsible for the firm’s overarching sustainability approach.
GreenBiz: The rise in ESG-related lawsuits and settlements is driving many companies to adjust how they communicate about environmental, social and governance issues. It’s also driving a growing number to consult lawyers and other subject matter experts for guidance.
Institutional Investor: Activist hedge funds are paying attention to board diversity — and are using that information to decide on their next targets. New research shows that activist investors are more likely to succeed when boards are less united and slower to act — two characteristics that are common among diverse boards, where members come from different backgrounds and tend to bring different perspectives.
ESG Clarity: Several asset managers who co-signed a letter urging governments to protect the ocean and not proceed with deep-sea mining, have welcomed a temporary moratorium on the practice.
BNN Bloomberg: The disclosures that companies make about their green credentials will be evaluated by new global audit standards that are expected to be finalized by the end of next year.
BNN Bloomberg: A cornerstone of the European Union’s sustainable finance package should be streamlined by the UK to make it more useful to the market, according to the expert panel advising the government.
BNN Bloomberg: Astatine Investment Partners and its managing partners were sued by the private equity firm’s former environmental, social and governance head, who claims she was denied promotion to managing director and carried-interest compensation because she was a woman.
Institutional Investor: More than 300 investment firms have joined the Net Zero Asset Managers initiative since it launched in December 2020, pledging to support a goal of net zero greenhouse gas emissions by 2050.
Funds Europe: Investors have withdrawn money from funds categorised as ‘Article 8’ under EU sustainable investment funds and appear to have re-allocated a portion of it to ‘Article 9’ funds that are more committed to sustainability, according to data.
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