.png?width=200&height=78&name=CH%20Diligence%20(thicker%20line-white).png "CH Diligence (thicker line-white)")
ESG Dive: Increased politicization of ESG risks and reporting drove the increase in anti-ESG proposals, according to ISS-Corporate’s report. Anti-ESG proposals made up approximately 11% of all requests in the year through June 2024, compared to approximately 2% of requests from July 2014 to June 2021.
ESG News: Canada’s federal government is exploring a $15 billion incentive to encourage domestic pension funds to invest in artificial intelligence (AI) data centers powered by green energy, according to the Globe and Mail.
Yahoo Finance: Parnassus, one of the largest asset managers to offer products tied to environmental, social or governance considerations, launched its first exchange-traded funds amid a difficult environment for the strategy.
ESG Today: Nearly nine out of ten investors report that they have increased their use of ESG data over the past year, yet trust in that data appears to be lacking, with a large majority also believing that greenwashing by companies is a worsening problem, according to a new survey released by global professional services firm EY.
Yahoo Finance: It’s unlikely that the return of Donald Trump to the White House will undermine the case for ESG investing, according to UBS Group AG’s global wealth management arm.
BNN Bloomberg: Citigroup Inc. has cut about five analyst jobs inside a small team dedicated to producing ESG and climate reports, according to people familiar with the development.
ESG Today: The Swiss government announced the launch of a consultation on a series of new proposals to update its sustainability-related disclosure rules for companies, including a requirement for companies to provide plans to align with Switzerland’s net zero by 2050 climate target, and for climate-related reporting to be based on standards such as the ISSB or the EU’s ESRS.
Funds Europe: The global carbon credit market could regain its momentum in 2025, according to MSCI’s data. With the total market value projected to grow from $1.5 billion in 2024 to as much as $35 billion by 2030 and $200 billion by 2050, the report highlighted a potential turning point for this sector if climate commitments are delivered.
BNN Bloomberg: Female representation in the boardroom almost tripled since 2010, with the most gender-diverse companies delivering higher shareholder returns compared to male-dominated boards, according to Bloomberg Intelligence.
US News: Goldman Sachs said it has quit a sector coalition aimed at aligning bank lending and investment activities with global efforts to fight climate change, becoming the most high-profile member to leave the group.
Yahoo Finance: A new "anti-woke" ETF is set to launch in the first quarter of the new year, according to an unveiling from startup asset manager Azoria Partners. The fund will invest in the S&P 500, but will specifically exclude companies that "use racial or gender quotas in hiring, promotions, or pay decisions."
Funds Europe: BNP Paribas Asset Management has launched a Low Carbon Transition Infra Equity Fund targeting €750m from institutional investors such as insurers, pensions funds and corporates.
ESG Today: Four out of five asset managers and owners expect to see increases in their sustainable assets under management (AUM) and allocations over the next two years, according to a new survey released by Morgan Stanley.
ESG Dive: Strive AM was co-founded in 2022 by Vivek Ramaswamy, a one-time candidate for the Republican presidential nomination, with a goal to advocate for an “anti-woke” investing policy.
BNN Bloomberg: The global sustainable bond market clocked its slowest month of the year in November as borrowers dialed back issuance, anticipating volatility because of the US elections.
CFO Dive: The Securities and Exchange Commission, led by its Division of Corporation Finance, is considering recommending a rule requiring publicly traded companies to disclose more about the diversity of members and nominees to their boards.
BNN Bloomberg: The idea that it’s a good thing to focus on diversity, equity and inclusion, or DEI, is under fire in the US. That’s certainly the case in business, where activists such as Robby Starbuck and Edward Blum have attacked US companies for their support of DEI.
Funds Europe: European asset managers face dilemmas over ESG priorities, including nuclear energy and military investments, according to the debut edition of the Funds Europe Asset Managers’ Carbon Impact Research Report.
Yahoo Finance/Reuters: BlackRock, Vanguard and State Street have been sued by Texas and 10 other Republican-led states, which said the large asset managers violated antitrust law through climate activism that reduced coal production and boosted energy prices.
ESG Today: Sustainability-focused investment manager Mirova and BNP Paribas Asset Management (BNPP AM) announced that they have acquired a majority stake in French renewable energy developer Arkolia, with an investment by the asset managers of more than €200 million aimed at funding the companies’ growth.
Funds Europe: With a focus on climate finance, the recently concluded COP29 brought together nearly several countries in Baku, Azerbaijan, and reached an agreement that will: Triple finance to developing countries, from the previous goal of $100 billion annually to $300 billion annually by 2035.
Pensions Age: UK pension funds are expected to be more resilient against climate change than their global peers, although some UK schemes could see their investment return declines exceeding 20 per cent from transition risks, analysis from Ortec Finance has revealed.
Funds Europe: The Black Lives Matter movement sparked a positive change four years ago and had a huge influence on Financial Services businesses’ commitment to race equality in the workplace.
Portfolio Adviser: Nine of Columbia Threadneedle Investments funds across global equities, UK equities and multi-asset have received approval for ‘Sustainability Focus’ labels under the Financial Conduct Authority’s Sustainability Disclosure Requirements (SDR).
ESG News: With mandatory sustainability reporting on the horizon, KPMG’s latest survey reveals a remarkable surge in global businesses integrating ESG practices into their operations. Carbon reduction targets, sustainability leadership roles, and biodiversity reporting are becoming mainstream practices among the world’s largest companies.
Funds Europe: The Investment Association (IA), the industry group for the UK’s asset management sector, in collaboration with the Thinking Ahead Institute, a non-profit network advancing sustainable investing for global savers, has published its second culture, talent and inclusion report: A Demographic Snapshot of the Industry.
BNN Bloomberg: The next European Commission will urgently seek to streamline the bloc’s many environmental, social and governance rules, as it responds to complaints that excessive regulations are gutting industry competitiveness.
