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BNN Bloomberg: Brookfield Asset Management Inc. acquired two US renewable-power companies -- Scout Clean Energy and Standard Solar -- for a total of $1.54 billion and plans to invest as much as $510 million to further develop those businesses.
CNBC: ESG and sustainable investing generally have come under fire recently, with critics pointing to a lack of transparency and differing definitions sparking confusion around what investors are actually buying.
Investment News: The Chicago-based enterprise is being described as a “private investing firm that partners with founders to provide a distinct combination of growth capital and the support and resources needed to develop scalable, sustainable business models that generate equity and impact.”
NBC News: Almost 60% of Asian women working in the U.S. financial sector say their race has hindered their careers, particularly at senior levels, according to a study by The Association of Asian American Investment Managers (AAAIM) published.
Hedge Week: In its tenth annual ESG Report, LGT Capital Partners finds that almost half (47%) of private equity managers are now addressing climate change through their ESG policies, an increase of 13 percentage points over the last year.
Interactive Investor: XPS Pensions Group, a consultancy, found that 81% of asset managers surveyed have committed to net zero by 2050, up from 41% last year. However, its research showed that just 22% of fund groups could demonstrate a “credible plan” to meet these commitments.
Institutional Investor: In the divestment versus engagement debate, climate-conscious institutional investors have generally tried for the last decade to “tilt” their portfolios away from heavy carbon emitters and toward companies with lower carbon footprints. But tilting may not be enough.
Private Equity Wire: Private equity firms are expected to rapidly accelerate their divestment from fossil fuel assets over the next 12 months in response to a tightening regulatory climate and increased demand from institutional investors to pivot to renewable energy assets.
Comptroller: New York City Comptroller Brad Lander shared a letter to BlackRock, Inc. Chief Executive Officer Larry Fink to express growing concern that BlackRock’s investment actions do not align with its climate commitments, and to request immediate action by BlackRock to address these contradictions.
U.S. News: The heads of the nation's largest banks faced pointed criticism from Republicans complaining the firms are inappropriately taking liberal stances on social and cultural issues.
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