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U.S. News: Florida's chief financial officer said on Thursday his department would pull $2 billion worth of its assets managed by BlackRock Inc, the biggest such divestment by a state opposed to the asset manager's environmental, social and corporate governance (ESG) policies.
Yahoo Finance: Republicans are pressing to get rid of it, regulators are cracking down on the misselling of ESG-labeled funds and bonds, and sustainable investing purists want to eliminate the acronym altogether. It’s also become less of a talking point for corporate executives.
ESG Clarity: After talks at COP27 barely kept the 1.5 warming limit alive and ended with reiterated calls to accelerate climate action, we take stock of the ever-expanding options available to investors looking to reduce climate-related risks in their portfolios and/or take advantage of opportunities arising from the transition.
Forbes: Environmental, social and governance (ESG) issues have become a significant focus across the financial markets. However, much of the commentary and focus have been on ESG in the public markets. In reality, ESG is just as much of a focus in the private markets as well.
Fitch Ratings: A spate of high-profile regulatory findings against how asset managers operate ESG funds and present them to clients highlights the regulatory risk associated with such funds, Fitch Ratings says. Last week, Goldman Sachs agreed a USD4 million settlement with the SEC over charges against the bank’s asset-management division for failures in ESG investment policies and procedures.
Forbes: With so much volatility in the markets, investors have been left with virtually nowhere to hide, but hedge funds have demonstrated how they can protect capital during periods of upheaval. The Eurekahedge Hedge Fund Index is down 5% year to date through October, compared to the S&P 500's decline of 17%.
Wealth Professional: Three quarters of institutional investors feel that their alternative asset managers have met or exceeded performance expectations during a challenging and volatile market period.
Independent.ie: Amundi and Deutsche Bank's DWS Group are downgrading billions of dollars worth of ESG funds, adding to the sense of disarray that's spreading across Europe's asset management industry as it digests stricter regulatory guidance.
BNN Bloomberg: A lack of reliable ESG data in emerging markets is proving a boon for some of the heavyweights of global finance.
The Hill: The Biden administration is making it easier for money managers to consider climate change and other environmental and social factors in retirement investments.
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