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ESG Today: The European Council announced the approval by member states of the Corporate Sustainability Due Diligence Directive (CSDDD), marking the final step in the adoption of legislation setting mandatory obligations for large companies to address their negative impacts on human rights and the environment across their value chains.
Funds Europe: Asset managers have been proactive in launching sustainability-focused products, with growth seen in climate change (+18%) and Paris-aligned (+11%) funds, according to data.
MSN: The Securities and Exchange Board of India (Sebi) has proposed to ease disclosures on environmental, social and governance (ESG) applicable to listed companies.
Funds Europe: The majority of millennials and Generation Zs demand that their investment portfolios include ESG criteria, according to a study.
Portfolio Adviser: Schroders has unveiled their latest SFDR Article 9 investment product, the Schroder ISF European Equity Impact strategy, created in response to investor demand for impact-driven investment solutions in European equities.
Funds Global Asia: Investors across Asia have become more sceptical about the credibility and performance of ESG funds, according to recently released research.
ESG Today: The vast majority of companies view sustainability as a value creation opportunity, with more than three quarters anticipating potential benefits ranging from higher revenues and profitability to lower cost of capital, although many also expect increased sustainability-related costs and a need for significant investment, according to a new survey released by Morgan Stanley.
Funds Europe: US-based Allspring Global Investments has expended its suite of climate transition funds with the addition of a global equity fund.
ESG Today: A significant majority of attorneys expect that the U.S. Securities and Exchange Commission’s (SEC) new climate-related disclosure rule will not survive its legal challenges in its current form, with most expecting the rule to only partially remain intact, or to be overturned entirely, according to a new survey by Bloomberg Law.
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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