.png?width=200&height=78&name=CH%20Diligence%20(thicker%20line-white).png "CH Diligence (thicker line-white)")
XM/Reuters: A federal appeals court dismissed a lawsuit by four Republican-led states that sought to block a US Securities and Exchange Commission rule requiring investment funds to categorize and disclose their proxy votes on issues including environmental, social and governance (ESG) matters.
Yahoo Finance: Well over a third (38%) of companies do not have an ESG strategy, and half (50%) of respondents believe that “for most companies, ESG is just a marketing exercise”, according to a new survey.
XM/Reuters: U.S. banks face significant data and modeling challenges in predicting the impact of climate change on their loan books, the Federal Reserve said after its first analysis on the issue.
Business Wire: Insights from a survey of global hedge fund firms indicate geopolitical and economic factors may be behind a potentially significant shift in investment and business strategy.
ESG Clarity: Sustainable funds attracted $900m (£718.6m) globally in net inflows in the first three months of 2024, following restated outflows of $88m in the last quarter of 2023, according to Morningstar’s Global Sustainable Fund Flows report.
Yahoo Finance: The Federal Deposit Insurance Corporation must make sweeping changes to address widespread sexual harassment and other misconduct, according to an independent report released that raises questions about the future of the banking regulator's leadership.
ESG Today: Sustainability and climate issues are moving back into focus for senior executives globally, with more than half of CEOs reporting that sustainability is a higher priority now than it was a year ago, and decarbonization found to be the top long-term strategic priority for CEOs, according to a new survey released by global professional services firm EY.
Yahoo Finance: Barclays is being added to the list of financial institutions restricted from contracts with the state of Oklahoma, the state’s treasurer, Todd Russ announced.
Forbes: A wave of new regulations and reporting standards is putting increased pressure on companies to show their commitment to environmental, social and governance (ESG) initiatives.
BNN Bloomberg: Oklahoma State Treasurer Todd Russ announced that Barclays Plc would be added to his list of companies that he claims have boycotted the fossil fuel industry — a gesture that aims to limit the governmental business the bank can conduct in the state.
MSN: The State of West Virginia banned four major banks – Citigroup, TD Bank, HSBC and Northern Trust – from state contracts worth tens of billions due to their environmental policies.
ESG Today: Brookfield Asset Management and its clean energy platform Brookfield Renewable announced a new 5-year global renewable energy framework agreement with Microsoft, for the development of more than 10.5 GW of new clean energy capacity in the U.S. and Europe.
ESG Clarity: Excluding China, Asia ex-Japan recorded net inflows of roughly $622m in the first quarter of 2024, down from $1.7 billion registered in the fourth quarter of 2023, according to report by Morningstar.
ESG Today: More than 4 out of 5 professionals involved in corporate reporting say that collecting accurate data to comply with the EU’s Corporate Sustainability Reporting Directive (CSRD) will be a challenge.
Yahoo Finance: The Texas Attorney General’s staff met with municipal finance executives from Wells Fargo & Co. and RBC Capital Markets as Ken Paxton’s probe into whether the Wall Street banks “boycott” the fossil fuels industry drags on.
ESG Today: Goldman Sachs Asset Management’s alternative investment platform announced an agreement to acquire UK environmental risk reduction specialist Adler & Allan from private investment advisory firm Sun European Partners.
ETF Stream: DWS is set to launch a green real estate ETF in the second quarter of 2024 following growing investor demand for ESG products.
BNN Bloomberg: A long-held truism of ESG is being challenged, namely the idea that the strategy is best-suited to active fund management.
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