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ETF Stream: Speaking at the Association of the Luxembourg Fund Industry (ALFI) London conference last week, Mhairi Jackson, policy lead in asset management at the FCA, said the regulator was having to “push back” against some asset managers' attempts to label themselves as ESG, Reuters reported.
GreenBiz: Shortly after Vince Digneo joined Palo Alto Networks as head of sustainability, climate and clean energy in July 2021, he launched a review of its environmental, social and corporate governance (ESG) disclosure practices.
Yahoo Finance: Asset managers are sitting on roughly $6 trillion of funds registered as Article 8, which is a European Union classification requiring that environmental, social and good governance goals be “promoted.”
ESG Clarity: Financial advisers have not been explicitly included in the design of the Financial Conduct Authority’s (FCA) proposed labelling scheme to crack down on greenwashing, the Sustainability Disclosure Requirements (SDR), which, after several delays, is due to be in place before 2024.
BNN Bloomberg: The escalating tensions between Israel and Hamas are prompting global business chiefs to think more about security issues, according to Citigroup Inc. Chief Executive Officer Jane Fraser.
Institutional Investor: A large portion of 152 global corporate and public pension funds recently surveyed by Apex Partners — 58 percent — said they expect allocations to private equity that accounts for environmental, social, and governance factors to rise over the next three years.
ESG Clarity: Fidelity International has launched two active fixed income ETFs with a focus on sustainable investing, classified as Article 9 under the Sustainable Finance Disclosure Regulation.
US News: Money managers in the United States have closed funds with sustainability mandates faster than they opened new ones over the past three months as investor appetite waned for the asset class overall, data firm Morningstar said.
Business Wire: Russell Investments has released results from its ninth-annual ESG Manager Survey, which offers valuable insights into the evolving landscape of ESG practices within the investment management industry.
BNN Bloomberg: The market for sustainability-linked bonds, which is worth more than $250 billion, looks set to witness a rare trigger event as its biggest issuer appears on track to miss a key target tied to the debt.
XM: Britain's financial watchdog said it was having to "push back" against some investment funds that misleadingly attempt to label themselves as being focused on environmental, social and governance (ESG) based performance.
Cerulli Associates: Asset managers and institutional investors generally remain focused on environmental, social, and governance (ESG) initiatives, even as political efforts to reverse progress are underway.
ESG Clarity: Green bonds are propelling the worldwide ESG debt market, according to analysis by Bloomberg Intelligence, with issuance up 8% so far in 2023 on last year.
City AM:The Wall Street Bank is looking to take a majority stake in Cypriot-registered Russian drilling firm, Southern Oil Company (UNK), after UNK’s parent firm, Astrakhan Oil Corporation (AOC), which is also registered in Cyprus, fell behind on payments for a $73m loan.
MSN: The City watchdog needs to go further to stamp out sexual harassment and misogyny in the financial industry amid a pervasive culture of fear, MPs have been told.
GreenBiz: Investment in climate technologies fell dramatically 2023 as economic headwinds dented investor confidence in all sectors of the economy, the latest data from PwC has shown.
ESG Clarity: Asset owners’ total financed greenhouse gas emissions (GHG) fell 3.5% to 213.4 tonnes of carbon dioxide in 2022, according to the latest progress report from the UN-Convened Net-Zero Asset Owner Alliance.
Fox News: BlackRock CEO Larry Fink said that he was "outraged" and "horrified by the images" out of Israel following Hamas’ terror attack.
Funds Europe: The European Banking Authority (EBA) is planning to revise capital requirement frameworks to make banks include environmental and social risks in required industry-wide reserves.
Fintech Global: According to ESG Today, it was found that less than a third (31%) of the board members avowed a sturdy understanding of ESG risks pivotal to their companies.
BNN Bloomberg: A top House Republican is threatening to subpoena the Securities and Exchange Commission for any documents about US involvement in crafting European Union environmental, social and governance regulations that GOP lawmakers say harm American businesses.
GreenBiz: The biggest challenge associated with new ESG reporting regulations isn’t that companies will be compelled to disclose ESG data — many already do so voluntarily — it is that they will need to have their ESG reports "assured," which means the data will be subject to the same scrutiny as financial reporting.
ESG Clarity: CFA Institute has launched the UK edition of its voluntary diversity, equity and inclusion (DEI) code for the investment profession designed to support organisations seeking to accelerate change by fostering a commitment to DEI.
BNN Bloomberg: As short sellers target traditional green stocks being hammered by inflation, an executive at the fund management arm of Goldman Sachs Group Inc. says there’s one kind of ESG asset that has what it takes to defy such headwinds.
Forbes: Companies are now expected to report on ESG, including environmental sustainability. Mandatory and voluntary ESG reporting requirements depend on whether you work for a public or private company.
GreenBiz: Most CEOs leading the world's largest companies remain committed to prioritizing environmental, social and governance (ESG) issues, despite growing concerns over the threat posed by current economic and geopolitical headwinds.
ESG Clarity: Some 53% of private investors consider ESG factors when investing, but its popularity has declined slightly since 2021, according to the latest annual ESG Attitudes Tracker from the Association of Investment Companies (AIC).
BNN Bloomberg: BlackRock Inc. is tapping the private credit market to launch a new fund that will offer one of the fastest-growing ESG investment strategies in the US. The Climate Transition-Oriented Private Debt Fund will become part of an investing platform at BlackRock that the asset manager says is worth more than $100 billion.
ESG Clarity: Milltrust International, an investment manager co-headquartered in London and Singapore, has launched a global sustainability-focused multi-family office with the aim of protecting and investing assets for families who prioritize sustainability and impact.
Institutional Investor: Conservative states have been rallying against huge managers such as BlackRock that use environmental and social factors to make some investments. Now, they’re coming after a small firm. The target, Responsible Alpha — a research and consulting firm, will likely lose an outside investment as a result of the campaign.
Chief Investment Officer: Emily Mendell has been appointed as executive director of the Private Equity Women Investor Network, an organization for senior-level women investment professionals in private equity.
Legal & General: Legal & General Capital (“Legal & General”) has committed up to USD 100 million to women-led impact investment advisory firm ImpactA Global (“ImpactA”). This investment will be directed to debt financing for sustainable infrastructure in emerging markets, with a focus on addressing climate challenges and reducing inequalities.
Funds Europe: Investor associations have written to companies in high-risk sectors, encouraging them to provide climate transition plan votes for “enhanced transparency and accountability”.
CNBC: The planned transition toward renewables is still in focus for the energy industry, and technology such as hydropower, solar, biofuels and many others remain key as the world seeks to move away from a carbon-intensive system.
BNN Bloomberg: Japanese pension funds managing 90 trillion yen ($600 billion) will join a global initiative for responsible investment, Prime Minister Fumio Kishida said in a speech on Tuesday.
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