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GreenBiz: The COP28 climate negotiations gathered a record 84,000 people in Dubai, and the volume of collaborative buying commitments made by companies on the sidelines also swelled.
Funds Europe: Schroders has joined the Global Real Estate Engagement Network (GREEN), a non-profit engagement network comprised of global institutional investors committed to advancing sustainability within the real estate industry.
CNBC: ESG investing, which stresses environmental, social and corporate governance yardsticks when building a portfolio, has long struggled with a lack of transparency and differing metrics across companies — making it difficult for investors to gauge the impact of their investments.
Funds Europe: A study by Cardano, the investment management and advisory firm, has revealed that chief financial officers (CFOs) of UK businesses are "unclear and unprepared for potential impacts of ESG risks on their operations".
Australian Securities & Investments Commission (ASIC): Northern Trust has paid $29,820 to comply with two infringement notices issued by ASIC regarding concerns about alleged false and misleading statements about the application of a Carbon Emissions Exclusion Screen.
BNN Bloomberg: Tennessee sued BlackRock Inc. for allegedly breaching consumer protection laws by making “misleading” statements about its ESG investment strategy.
ESG Clarity: Major UK investors have written to the Financial Conduct Authority (FCA) to urge the regulator to act on racial equality by introducing mandatory ethnicity pay gap reporting for financial institutions.
Yahoo Finance: The asset manager 7RCC filed an application with the Securities and Exchange Commission for a new kind of Bitcoin ETF that would provide investors exposure to the popular cryptocurrency alongside carbon credits.
ESG Clarity: New findings from the WWF Sustainable Financial Regulations and Central Bank Activities (SUSREG) Tracker show that although some central banks and financial supervisors are attempting to “green” their financial regulation and supervision, significant gaps remain.
BNN Bloomberg: House Judiciary Chairman Jim Jordan has subpoenaed BlackRock Inc. and State Street Corp. for documents related to the committee’s inquiry into whether their efforts to combat climate change violate US antitrust law, according to a person familiar with the matter.
ESG Clarity: BNP Paribas has launched the BNP Paribas Climate Impact Infrastructure Debt, an SFDR Article 9 fund that invests in energy transition projects across Europe.
BNN Bloomberg: The United Arab Emirates has agreed to retain a smaller portion of the profits generated by a $30 billion venture involving BlackRock Inc., TPG Inc. and Brookfield Asset Management Ltd., in an effort to lure more private money into climate finance deals.
Yahoo Finance: Goldman Sachs, the ETF issuer with $30.6 billion in 41 ETFs, is shuttering a $7.64 million climate equity exchange-traded fund two years after its launch as ESG funds come under regulatory scrutiny and face conservative political backlash.
US News: The U.S. Treasury Department's Office of the Comptroller of the Currency (OCC) carried out its first climate risk assessment of more than two dozen banks in recent months, laying the groundwork for heightened scrutiny of Wall Street's accounting for such threats, people familiar with the matter said.
MarketScreener: he code of conduct was drawn up by the International Capital Market Association, a fixed-income trade body, and think-tank International Regulatory Strategy Group, following a request from Financial Conduct Authority (FCA) last year.
ESG Clarity: Apollo Global Management is launching a clean transition private equity fund on its Luxembourg-based product platform, as part of the fund manager’s goal of deploying $50bn in clean energy and climate capital by 2027.
Institutional Investor: There are glass-half-empty and glass-half-full ways to view renewable energy and climate finance in Africa, the second largest and most populous continent.
CNBC: A House panel subpoenaed The Vanguard Group and Arjuna Capital, the latest step in its yearlong investigation into whether investment funds’ environmental, social and governance policies violate antitrust laws.
Institutional Investor: If those on either side of the debate over environmental, social, and governance investments feel thoroughly convinced of their arguments, they should think again.
ESG Clarity: Private capital flows to emerging markets and developing economies (EMDEs), excluding China, have dropped 22% since 2019 despite the ESG market growing 15% to $22trn in 2022 – and $1trn of that invested for positive impact.
Funds Europe: Swiss Life Asset Managers has announced the successful first close of its value-add infrastructure fund, Swiss Life Funds (LUX) ESG Global Infrastructure Opportunities Growth II, with over €560 million in capital commitments.
XM: HanETF and Sprott Asset Management jointly launched an exchange-traded fund in Europe that tracks copper miners with a lower carbon footprint, in what will be their third fund to be unveiled togetherin the last two years.
Funds Europe: European companies with validated science-based emissions reduction targets tend to have higher EU Taxonomy capital expenditure alignment, a study found.
GreenBiz: Much has been made of whether and how the stock market can meaningfully support climate action. Because most transactions occur in the secondary market, trading shares of listed companies appears rather removed from the "real" economy, where tangible decarbonization takes place.
Funds Europe: Asset manager Columbia Threadneedle Investments has launched the CT (Lux) Global Social Bond fund, aiming to use the bond market to target positive social outcomes globally.
ESG Clarity: Longstanding employees in the financial services sector say diversity, equity and inclusion (DEI) has deteriorated in the past 12 months, according to a survey.
BNN Bloomberg: In recent years, many of the world’s biggest banks have published reports chronicling the vast sums they say they’re channeling into environmental and social activities.
Funds Europe: ESG underperformance last year is seen by pension funds as a “temporary setback”, and they intend to pursue investment strategies that seek environmental and social outcomes while also making money, research suggests.
ESG Clarity: “This is an important moment in our industry’s efforts to build greater confidence and trust among retail investors in the UK’s evolving sustainable investing market,” said James Alexander, chief executive of UKSIF, echoing the sentiments and general positivity among the investment community in the wake of the Financial Conduct Authority (FCA) launching their much-anticipated Sustainability Disclosure Requirements (SDR).
GreenBiz: Global government and private sector leaders are descending on Dubai as COP28 kicks off. Finding a consensus on how to fix climate finance is high on the conference agenda.
Forbes: Climate change has emerged as one of the gravest concerns facing mankind. While scientists agree that temperature rise must be kept to 1.5°C to avoid the most dire repercussions, the world is on track to see a 2.8°C rise by the end of the century.
BNN Bloomberg: A decline in the US has resulted in an overall slide in the global market for ESG investing. That’s according to the latest assessment by the Global Sustainable Investment Alliance (GSIA), which provides updates on the size of the market every two years.
Yahoo Finance: All businesses should be forced to embrace the environmental, social and governance (ESG) movement, New Labour’s favourite think tank has argued in an attack on the profit motive.
ESG Clarity: 2023 looks set to be another record breaking year for global temperatures, playing witness to numerous severe weather events.These bring with them tragic loss of human life and provide very tangible evidence of the impact climate change is having on the planet and society.
GreenBiz: Companies are undermining their net zero climate pledges with corporate lobbying and trade association memberships, a new report from the London nonprofit InfluenceMap warns.
Funds Europe: Dimensional has announced the introduction of the Global Sustainability Targeted Value Fund, focusing on small and mid-cap value stocks in developed markets.
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