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Cision: The National Association of Investment Companies ("NAIC"), the largest network of diverse-owned alternative investment firms, and UBS, the leading global wealth manager, announced an agreement whereby UBS will become a Platinum Sponsor of NAIC in support of the firm's Inclusive Investing offering.
Chief Investment Officer: Norges Bank, Norway’s central bank and manager of its $1.2 trillion Government Pension Fund Global, has added nine companies to its exclusion list for reasons including producing tobacco products and cannabis for recreational use and contributing to severe environmental damage, according to a press release.
U.S. News: HSBC Holdings Plc told Reuters it will stop financing the expansion of thermal coal from funds it manages actively with immediate effect, marking an acceleration of a broader commitment it made last year.
Whyy: Eight climate activists were arrested at the Malvern headquarters of Vanguard, one of the largest mutual fund investment firms. Members of the Earth Quaker Action Team (EQAT) and Extinction Rebellion Philly say Vanguard should be using more of its economic muscle to actively disinvest in companies contributing to global warming, including Big Oil producers like Exxon and Chevron.
BNN Bloomberg: Brookfield Asset Management Inc. will infuse more than $2 billion into Indian renewable projects to tap the booming clean energy investment opportunity in the fossil fuel-driven economy.
Institutional Investor: Paul Atkins, former SEC Commissioner, is not a fan of the recent moves by Republican-led states to blacklist asset managers because they consider environmental, social, and governance factors when investing.
Wealth Management: Blackstone Inc. vowed to hire 2,000 refugees across its portfolio companies and real estate properties worldwide, including 1,500 in the US.
BNN Bloomberg: After watching key GOP figures launch an all-out political attack on ESG, senior officials from the $57 trillion global pension industry are speaking out against the risks such an agenda poses to long-term savings.
Yahoo Finance: Yahoo Finance reporter Jen Schonberger details SEC Chair Gary Gensler's defense of climate disclosure and cryptocurrency regulation proposals.
BNN Bloomberg: On paper, it looks like a perfect deal for green-minded investors. They buy the bonds of companies that agree to slash their environmental footprints -- and pocket higher yields if the businesses are penalized for falling short of the goals.
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