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Moody's Analytics: Companies that develop more responsible Environmental, Social, and Governance (ESG) practices and strive to mitigate ESG risks experience fewer ESG-related controversies and generate better shareholder returns. These are the key findings of two new research studies released by Moody’s Analytics showing that ESG risk management policies and actions, and the ESG scores that measure them, contain financially relevant information for investors.
Globe Newswire: Brookfield announced that it has reached the final institutional close for the Brookfield Global Transition Fund (“BGTF” or “the Fund”) with total capital raised of $15 billion, making it the world’s largest private fund dedicated to facilitating the global transition to a net-zero carbon economy. The $15 billion includes investments from institutional investors in and alongside the Fund, as well as amounts reserved for the private wealth channel.
BNN Bloomberg: BlackRock Inc. is pushing back on key parts of the US Securities and Exchange Commission’s bid to get publicly traded companies to track and disclose their greenhouse gas emissions.
U.S. News: The U.S. Securities and Exchange Commission is looking into Goldman Sachs Group Inc's asset-management division over its funds that look to invest based on environmental, social and governance (ESG) standards, the Wall Street Journal reported.
ESG Clarity: Andrew Nathaniel Skeene and Junie Conrad Omari Bowers have been found guilty of conspiracy to defraud and misconduct in the course of winding up a company at Southwark Crown Court, International Adviser reports.
Business Wire: Private equity fund managers are prioritizing impact funds and ESG above new deals, directing money to ESG commitments. According to BDO’s Spring 2022 Private Capital Pulse Survey, 50% say they will direct the most capital toward setting up impact funds or investing in targets with ESG-focused themes.
BNN Bloomberg: The majority of US and Canadian-based venture capital investors are planning to back funds with exposure to female founders, a sign that male-dominated capital allocation might start to shift.
The Guardian: After 10 years of stalemate over the proposals, EU lawmakers hailed a “landmark” deal for gender equality. As well as the legally binding target, companies could also be fined for failing to recruit enough women to their non-executive boards and see board appointments cancelled for non-compliance with the law.
BNN Bloomberg: Japan’s financial regulator is looking at new measures to curb greenwashing to ensure that financial products labeled ESG are sustainable, according to people familiar with the matter.
Yahoo News: With ESG being increasingly maligned these days from both the inside and the outside, some of the industry’s early devotees say it’s time for a course correction. Jerome Dodson, the retired founder of one of the world’s largest ESG-focused investing firms, said a dedicated watchdog is needed to help police marketing claims.
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