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ESG News: MSCI Inc. has appointed Dr. Richard Mattison as Head of ESG and Climate, starting October 29. Mattison, who brings extensive experience in sustainable finance, will be responsible for advancing MSCI’s ESG and Climate product strategy and development.
Funds Europe: The global universe of sustainable open-end and exchange traded funds attracted about $10.4 billion in new money during the third quarter of 2024, marking a $4.1 billion increase from Q2, according to Morningstar Sustainalytics' Global Sustainable Fund Flows report.
ESG Today: Zurich-based Direct Air Capture (DAC) carbon removal company Climeworks announced today that it has signed an agreement with Morgan Stanley to permanently remove 40,000 tons of CO2 through 2037.
BNN Bloomberg: Asset managers in Europe and the US have spent 2024 winding down hundreds of ESG funds, as the investment strategy continues to bump up against regulatory headwinds.
Funds Europe: Investors expect to use artificial intelligence (AI) to address data challenges - but also view it as an ESG risk, according to research that reveals ESG adoption is at an "all time high".
ESG Today: Sustainable investing firm Mirova announced that it has been selected to manage “Objectif biodiversité” a new fund launched by a consortium of French institutional investors, targeting investments in businesses transitioning to sustainable business models and in innovative solutions for biodiversity preservation.
BNN Bloomberg: Advisory firm WisdomTree Asset Management Inc. agreed to pay $4 million to settle US Securities and Exchange Commission allegations that it failed to deliver on its promise to create exchange-traded funds that avoided investments in fossil fuels or tobacco.
Yahoo Finance: UBS Group AG is asking its bankers to rethink the way they discuss some sustainable products in public following advice from its lawyers, according to people familiar with the matter.
ESG News: The International Chamber of Commerce (ICC) has launched its Principles for Sustainable Trade Finance (PSTF) at Sibos 2024 in Beijing.
ESG News: ClientEarth, an environmental law organization, has taken legal action against BlackRock, the world’s largest asset management firm, for alleged greenwashing.
Business Wire: Morgan Stanley Investment Management (“MSIM”) and Opportunity Finance Network (“OFN”) announced the deployment of a portion of the second annual contribution related to MSIM’s money market funds’ Impact Class shares.
Financial Newswire: Women in Super chief executive, Jo Kowalczyk, said the proposal shines a light on the inadequate funding for crisis support and affordable housing that is unable to support single and divorced women and may result in them falling into poverty or having to endure violence.
ESG Today: Enterprise software company IFS, in collaboration with professional services provider PwC UK announced the launch of a new Sustainability Management Module on the IFS Cloud platform aimed at supporting companies in complying with the new sustainability reporting requirements.
MSN: Fewer private investors are considering ESG when making investments, with the number being influenced by this falling for a third consecutive year.
ESG Today: Nearly all insurers have set climate transition-related objectives in their portfolios, including more than half that have set net zero targets, and most report a growing conviction towards investing in the low carbon transition, according to a new survey released by investment giant BlackRock.
Funds Europe: A research report published by Funds Europe has revealed wide variations in the carbon footprint of the investment portfolios of Europe's largest asset managers.
ESG Dive: The Commodity Futures Trading Commission published its final guidance for listing carbon credits on voluntary markets in the Federal Register, aiming to shore up the integrity of such credits.
Business Standard: Despite rising diplomatic tensions between India and Canada, Canadian pension funds have so far remained committed to investing in India.
XM: The European Union's securities watchdog is considering changes or clarification to incoming rules on the naming of sustainable investment funds, after investors warned they could make it harder for polluters to access cash they want to decarbonise.
Yahoo Finance: According to a new report from RepRisk, for the first time in six years, regulators are seeing a decline in incidents where asset managers misleadingly claim to practice environmental, social or governance investing.
ESG News: The Canadian government has advanced two significant sustainable finance initiatives to ensure the country meets its ambitious net-zero emissions target by 2050.
ESG Today: More than two thirds of CEOs report that they remain committed to their climate strategies, but are adapting the language and terminology they use to communicate it...according to a new survey released by global professional services firm KPMG.
BNN Bloomberg: Focusing on energy supply — without thinking about who’s going to buy it — is what led to a lack of investment in green hydrogen, according to Emmanuel Lagarrigue, partner and global co-head of climate at KKR & Co Inc.
ESG Today: CDPQ and Nuveen Green Capital (NGC) have announced the establishment of a $600 million financing program for sustainable real estate investments.
ESG News: Morningstar Sustainalytics has announced significant updates to its suite of tools designed to assist investors and corporations with the evolving ESG regulatory landscape under the EU Sustainable Finance Action Plan.
CFO Dive: In an era where sustainability disclosure regulations are tightening globally, companies face mounting pressure to gather, calculate and report greenhouse gas (GHG) data. This process is challenging and can be complex, but evolving technology can help CFOs meet these demands.
BNN Bloomberg: Investors need to adopt a new approach to the mining sector if the industry is to meet the growing demand for minerals and metals needed for the green transition.
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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