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BNN Bloomberg: New proposals from the US Securities and Exchange Commission to crack down on money managers using misleading or deceptive fund names threaten to impact investing strategies of all stripes -- not just those focused on ESG issues.
U.S. News: Vanguard, the world's second-biggest asset manager, said it expects nine funds managing $290 billion to reach the world's climate goal by 2050 and be at least half way there by 2030, drawing criticism from campaigners for a lack of ambition.
Investment Executive: Federal financial regulators issued new guidance to address climate-related financial risks, including mandatory disclosure requirements. The Office of the Superintendent of Financial Institutions (OSFI) issued a new draft guideline Thursday that sets expectations for federally regulated financial institutions.
Quartz: Following the Parkland, Florida, school shooting that left 17 people dead, focus turned to the fact that BlackRock, the world’s largest asset manager, was the largest institutional shareholder of three publicly traded gun manufacturers, including the one that made the gun used in the Parkland shooting.
Northern Trust: As part of its long-standing commitment to ensuring diversity, equity and inclusion within the investment industry, Northern Trust Asset Management (NTAM) seeks requests for information from broker-dealers owned by minorities, women, veterans or people with disabilities – to provide trade execution services. Responses are due by Friday, July 29, at 5:00 PM CT.
Investment Week: Of the five countries surveyed (the United Arab Emirates, UK, Singapore, Switzerland and Australia), the UK and Switzerland were leading the way, both with 16.2% of hedge fund leadership in those countries being female.
FT Adviser: Some 35 per cent of 2,000 people surveyed said they expect their adviser to understand environmental, social and governance, with a further 23 per cent anticipating their adviser will bring ESG investing into financial planning discussions.
U.S. News: Leading U.S. environmental group the Sierra Club has warned BlackRock Inc it may pull a $12 million investment after the money manager said it would likely support fewer climate-focused shareholder resolutions at annual company meetings this year.
ESG Clarity: Asset managers are not providing their audiences with the information they want when it comes to sustainable investing, a Peregrine Communications study has once again found.
BNN Bloomberg: Conservatives have identified the popular investing strategy, which accounts for environmental, social and governance risks, as part of a broader narrative about left-wing overreach and “ wokeness” run amok.
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