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Yahoo Finance: Top mutual fund manager Vanguard removed some of its guidance for U.S. companies to include women and minority directors, a sign of the shifting dynamics of corporate diversity efforts that have come under attack from the new Trump administration.
BNN Bloomberg: ESG fund managers are facing one of the toughest moments in the strategy’s history, as investment clients pull record amounts of money. Funds complying with the European Union’s strictest ESG standards suffered record outflows last quarter, according to fresh data from Morningstar Inc.
ESG Today: Manulife Financial’s global wealth and asset management business Manulife Investment Management announced that it has raised $480 million in commitments at the final close of its Manulife Forest Climate Fund LP, focused on investing in sustainably managed forests, with carbon as the primary value driver.
ESG Dive: Attorneys general from 10 states, led by Texas AG Ken Paxton, sent letters to six major U.S. financial institutions, warning that some of their diversity, equity and inclusion and environmental, social and governance commitments could lead to enforcement if found to violate state or federal law.
ESG Today: Investment giant BlackRock announced the launch of the BlackRock BFM Brown to Green Materials Fund for UK investors, a new fund aimed at targeting overlooked opportunities stemming from the transition to a low carbon economy in the materials sector.
ESG News: The International Auditing and Assurance Standards Board (IAASB) and the International Ethics Standards Board for Accountants (IESBA) have introduced integrated standards to strengthen sustainability reporting and assurance practices.
Yahoo News: Money flowing into global sustainable funds shrank by half in 2024 and in Europe closures of such funds outpaced new launches, as anti-ESG sentiment and subpar returns dulled the appeal of the investment strategy, Morningstar Sustainalytics said.
Yahoo Finance: BNP Paribas is rethinking sustainable finance to focus on profitable deals and on redefining what it considers sustainable, a senior executive said, as it became the latest bank to distance itself from the ESG label.
ESG News: A climate financing fund launched by the European Investment Bank (EIB) and Allianz Global Investors (AllianzGI) has finalized its size at €450 million with a recent €20 million contribution from Germany’s Kreditanstalt für Wiederaufbau (KfW).
ESG Dive: The White House published an executive order Tuesday that directs the heads of agencies, in cooperation with the attorney general, to submit a report by May 21 with recommendations to “encourage the private sector to end illegal discrimination and preferences, including DEI.”
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