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Wealth Professional: While greenwashing is commonly called out by investors and consumers, a more sinister and potentially damaging trend is emerging, ESG fraud, and its scale is highlighted in a new report from KPMG in Canada.
Yahoo Finance: A U.S. House of Representatives panel has subpoenaed the head of an activist group that pressures companies over environmental, social and corporate governance issues to appear for a March 28 deposition, according to a letter seen by Reuters.
Funds Europe: Some asset managers are retreating from their public ESG commitments due to so-called ‘greenhushing’ suggests a report into ESG investing in private markets.
BNN Bloomberg: The possibility that Europe will tap its investment bank to fund defense spending is being met with skepticism from bond investors, who flag risks to the lender’s sustainability credentials and higher borrowing costs.
ESG Today: BNP Paribas Asset Management (BNPP AM) announced the launch of the BNP Paribas Global Net Zero Transition Equity fund, a new active fund aimed at offering investors with exposure to a decarbonization and sustainable investment focused strategy, with sector, regional and market cap diversification.
BNN Bloomberg: As companies increasingly tie executive pay to ESG, there’s evidence to suggest the add-on is being used to enable bigger remuneration packages without leading to any meaningful environmental, social or governance improvement.
MSN: A Texas schools fund said it told BlackRock it would terminate a contract to manage around $8.5 billion of state money due to the energy investment policies of the world's largest asset manager.
BNN Bloomberg: More than two-thirds of passive funds marketed as sustainable are helping finance growth in the fossil-fuel industry, a trajectory that the International Energy Agency has said is incompatible with limiting global warming to the critical threshold of 1.5C.
Yahoo Finance: As the volume of ESG data continues to rise, firms are grappling with the best way to manage this information, according to a new Bloomberg survey of approximately 200 financial market participants based in Europe.
EY: The modern investment landscape is changing rapidly as environmental , social and governance (ESG) factors become an essential component of investing strategies, especially within the private equity (PE) sector.
ESG Today: The Canadian Sustainability Standards Board (CSSB) announced the release of new proposed standards for companies to report sustainability and climate-related information, based on the recently released sustainability disclosure standards by the IFRS Foundation’s International Sustainability Standards Board (ISSB).
GreenBiz: The U.S. Securities and Exchange Commission’s new rule on corporate climate risk disclosure was a disappointment to those who felt it did not go far enough but it nonetheless offers clarity for companies juggling multiple international jurisdictions, sources told GreenBiz.
BNN Bloomberg: Canadian banks face another round of shareholder proposals focused on environmental, social and governance issues at their annual meetings this year, but little new on climate.
Forbes: Many organizations are becoming deeply familiar with environmental, social and governance (ESG) considerations, responding to a variety of factors ranging from government initiatives aimed at net-zero emissions to public sentiment in favor of ESG practices.
ESG Today: Natixis Investment Managers’ sustainable investing affiliate Mirova announced that it has raised more than €195 million (USD$213 million) for its corporate-backed Climate Fund for Nature, aimed at supporting high-quality projects dedicated to nature protection and restoration.
Funds Europe: A study on investment management professionals in various sectors, including Life Insurers, London Markets (re)insurers, and investment managers, has revealed mounting worries about greenwashing amidst tightening ESG standards.
Institutional Investor: For the past two years, ESG has fallen out of favor among U.S. allocators. The rest of the world? Not so much.
ESG Today: Renewable energy infrastructure investor Excelsior Energy Capital announced the acquisition by BlackRock of a portfolio of 38 solar energy and battery storage projects.
BNN Bloomberg: Banks and financial firms should be banned from using nondisclosure agreements in workplace sexual harassment disputes because they risk silencing victims while protecting perpetrators, British lawmakers have warned.
ESG Clarity: Banking and financial firms DWS, Goldman Sachs and BNY Mellon have been featured on a list of firms that have paid the largest corporate fines, settlements and donations over the last 10 years for greenwashing activities.
Canadian Securities Administrators: The Canadian Securities Administrators (CSA) published updated guidance for investment funds on disclosure practices as they relate to environmental, social and governance (ESG) matters.
BNN Bloomberg: Another piece of the Biden administration’s sweeping policy response to climate change fell into place, when the US Securities and Exchange Commission voted to approve highly anticipated climate disclosure requirements for public companies.
Institutional Investor: The United Kingdom’s largest workplace pension plan is set to move 70 percent of its assets into climate-aware strategies, the fund announced.
MSN: Britain's finance ministry said on Wednesday it will introduce regulation for providers of environmental, social and governance (ESG) ratings on companies to improve "clarity and trust" in benchmarks widely used to steer investments, but gave no specific timeline.
The Guardian: Four of the world’s biggest banks have left the Equator Principles, a set of minimum industry standards and safeguards for financial institutions to address environmental and social risks in countries where they finance fossil fuel and mining projects.
Funds Europe: 41% of financial market participants based in Europe see managing constantly evolving ESG data as a top challenge for their firms, according to a Bloomberg survey.
ESG Clarity: Capital Group has launched three global, multi-thematic sustainable funds designed to meet demand from European and Asian investors.
MSN: Since joining Asahi Group in 2020 as sustainability chief, Preeti Srivastav has helped the Japanese brewer make several environmental and social pledges but has not got it to disclose all its progress.
Funds Europe: Index provider S&P Dow Jones Indices has added the S&P Biodiversity Indices to its sustainability-focused performance benchmarking tools range for asset managers and financial institutions.
BNN Bloomberg: BNP Paribas Asset Management says ESG clients have been piling into money market funds, drawn by the allure of stable returns in cash-like instruments.
ESG Today: A key piece of EU legislation setting mandatory obligations for companies to address their negative impacts on human rights and the environment was dealt a significant blow, failing to achieve final approval by the European Council, following objections from countries including Germany and Italy, despite a provisional agreement on the regulation reached earlier by the Council with the EU Parliament.
Funds Europe: An overwhelming majority of investors consider that climate risk will have a highly significant impact on their infrastructure investment but say that they do not know how to measure this risk and therefore manage it, according to research.
BNN Bloomberg: When global warming is politicized, professional investors are unable to do their jobs properly. That’s the key message from the world’s biggest investor coalition on climate change after several of its largest members left the group this month.
ESG Today: Deutsche Bank announced the release of a new Sustainable Finance Framework, outlining the methodologies and procedures, including the environmental and social criteria and categories, used by the bank to classify transactions and financial products as “sustainable.”
BNN Bloomberg: House Oversight Committee Chairman James Comer is seeking information from the Federal Reserve about whether some asset managers are breaching agreements with the central bank because of their links to climate-finance groups.
GreenBiz: Companies with ambitious environmental objectives are failing to reconsider or disclose their affiliations with trade groups that actively lobby against climate goals and decarbonization policies, a new study has found.
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