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ESG Today: Insurance and investment group Allianz’s commercial insurance unit, Allianz Commercial, announced the launch of Climate Adaptation & Resilience Services (CAReS), a new platform aimed at enabling companies to identify and mitigate climate risk exposures facing their businesses.
ESG News: Europe’s financial supervisory bodies have unveiled draft guidelines to embed ESG risks into the mandatory stress tests for banks and insurers across the European Union.
ESG Dive: Rep. Rick Allen, R-Ga., first introduced the bill in April, and the committee said in a June 25 press release after its passage that the legislation “seeks to ensure financial institutions are focused on maximizing returns in retirement plans rather than on woke ESG factors.”
The Guardian: Pension funds and institutional investors made a “huge mistake” and exaggerated their role in environmental, social and government (ESG) issues to promote their products, the outgoing chair of Aberdeen Group, Douglas Flint, has said.
Funds Europe: The European Securities and Markets Authority’s (Esma) new ESG fund naming guidelines have led to rebranding, particularly among passive funds, though most strategies have remained intact, according to data provider Morningstar.
Investment Executive: Europe’s financial regulators are consulting on a common approach to incorporating environmental, social and governance (ESG) factors into stress testing across the financial sector.
OneStop ESG: Greenbelt Capital Partners, a private equity firm based in Austin, Texas, has just sealed a massive $1 billion for its first-ever fund, Greenbelt Capital Partners III, hitting its hard cap and blowing past its original $750 million goal.
ESG Today: The European Council announced an agreement by EU member states on the Council’s negotiating position on the Omnibus proposal to simplify and reduce sustainability reporting and due diligence requirements for companies.
ESG Dive: U.S. policy has changed swiftly on climate, energy and ESG issues since Trump took office. The administration has prioritized fossil fuel production and infrastructure expansion while scaling back Environmental Protection Agency oversight and reducing federal support for renewable energy, among other shifts, the report noted.
ESG Today: Morgan Stanley Investment Management (MSIM) announced that it has invested $30 million in energy sector-focused methane management solutions provider Insight M, leading a growth equity funding round in the company.
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