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MSN/Reuters: The multilateral Climate Investment Funds said it would invest up to $1 billion to help accelerate the development of technologies to cut climate-damaging industrial sector emissions in developing countries.
Portfolio Adviser: The perception of ESG materiality is expanding across markets and factors, with asset owners pushing for more granular data and taking part in direct engagement on ESG topics with portfolio companies, according to Morningstar’s third annual Voice of the Asset Owner Survey.
The Guardian: Private equity firms are using US public sector workers’ retirement savings to fund fossil fuel projects pumping more than a billion tonnes of greenhouse gas emissions into the atmosphere every year, according to an analysis.
US News: The impact of a political backlash against environmental, social and governance-related (ESG) issues in the United States is overstated and having little bearing on the country's burgeoning green economy, a JPMorgan executive said.
Funds Europe: European real estate decarbonisation costs increase but remain achievable, according to a report from asset manager AEW. It is anticipated that this will be achievable for investors given AEW's projected annual return of 8.8% across all European prime sectors for the 2024-28 period.
ESG Today: The European Commission announced that it has sent letters to 17 EU member states, opening infringement procedures with the states over their failure to communicate that they have fully transposed the new Corporate Sustainability Reporting Directive (CSRD) into their national laws.
ESG Dive: The 1GT fund prioritizes including companies in its portfolio that have systems in place to manage ESG risk, measurement and reporting requirements and those that seek to add value through sustainability partnerships, according to the fund’s website.
ESG News: A new report series by Deloitte, titled “Asia Pacific Mandatory Sustainability Reporting,” positions Chief Financial Officers (CFOs) as pivotal leaders in navigating the evolving landscape of sustainability reporting across the Asia-Pacific region.
ESG Today: Alternative asset and private equity investor KKR and Spanish bank BBVA announced the formation of a new strategic partnership, targeting climate solutions and climate infrastructure-related investments aimed at supporting the decarbonization of the real economy.
Funds Europe: The UN-convened Net-Zero Asset Owner Alliance (NZAOA) recently celebrated its fifth anniversary at New York Climate Week by reporting annual emissions reductions of at least 6%, aligning with the 1.5°C pathway established by the Intergovernmental Panel on Climate Change.
ESG News: The U.S. Commodity Futures Trading Commission (CFTC) has established its first-ever guidelines for trading voluntary carbon credit derivative contracts. This is a pivotal step for the nascent market, providing much-needed oversight and integrity.
Funds Europe: The Institute for Energy Economics and Financial Analysis (IEEFA) has highlighted the need for investment products prioritising long-term decarbonisation goals over short-term financial returns.
The Business Standard: EY faces scrutiny in India over the death of audit executive Anna Sebastian Perayil, which her mother blamed on a "backbreaking" workload in a letter to EY India's chairman. The incident has already sparked a federal government investigation.
BNN Bloomberg: Institutional investors holding a combined $9.5 trillion of assets say they’ve slashed portfolio emissions at a rate that aligns them with the goal of limiting global warming to the critical threshold of 1.5C.
Australian Securities and Investments Commission: The Federal Court today ordered Vanguard Investments Australia to pay a $12.9 million penalty for making misleading claims about environmental, social and governance (ESG) exclusionary screens.
ESG Today: TPG Rise Climate, the climate investing strategy of TPG’s global impact investing platform, TPG Rise, announced that it has raised $1.25 billion in initial capital commitments for its new Global South Initiative (GSI) strategy, including a $500 million commitment from UAE-backed climate investment platform ALTÉRRA.
Institutional Investor: Asset owners and managers have faced political backlash and lawsuits for their use of environmental, social and governance factors when investing (especially BlackRock).
FinTech Global: The debate surrounding the acronym of ESG has evolved from divisive to disappointing within the financial services sector. According to ACA Group, however, the consensus remains that ESG data is crucial for gauging the sustainability, ethical standards, and long-term viability of companies.
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