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U.S. News: Central bank policymakers and other global authorities are exaggerating the financial risks of climate change, a senior HSBC banker in charge of sustainable investments said in remarks that drew criticism from climate activists.
BNN Bloomberg: A benchmark ESG stock index has removed Tesla Inc., sparking a debate about which companies do — and don’t — pass muster with socially aware investors.
Investment Week: The UK's top climate funds are on course to contribute to a 4.5°C temperature rise by 2050, despite laying out net zero strategies, research from fintech Clim8 has found. Green' funds too are contributing to the climate crisis, pushing temperature rises past 3°C, according to Clim8.
U.S. News: BlackRock Inc, JPMorgan Chase & Co and other top financial firms have told a Texas official they are not boycotting energy companies, responding to a request for information that could determine if they are able to continue to manage state funds.
Hedge Week: About a third of hedge funds invest in ESG-dedicated strategies leading to investment demand being considered a ‘primary driver’ in improving ESG, research from BNP Paribas shows. One-fifth of investors plan to increase this in 2022 and a further 23 per cent are considering an investment.
BNN Bloomberg: Professional investors overwhelmingly prefer to use actively managed funds to deal with environmental, social and governance risks, according to a report from Capital Group that suggests the recent surge in passive ESG strategies may be at odds with industry needs.
Nasdaq: Environmental activists briefly disrupted BNP Paribas' BNPP.PA annual shareholder meeting in Paris, accusing France's largest listed bank of being Europe's main financing partner for the fossil energies sector.
Institutional Investor: In a joint survey between Chestnut Advisory Group and Pensions & Investments, 32 percent of institutional investor respondents and only 8 percent of asset manager respondents said they were happy with the current level of diversity at their firms.
Institutional Asset Manager: BlackRock has announced that a consortium of Limited Partners (LPs) and funds of funds have partnered in an effort to streamline and standardise ESG reporting for private markets.
BNN Bloomberg: Investors in his Voloridge Climate Change and Sustainability funds were told this week that the money would move into the firm’s main pool, according to a person with knowledge of the matter. The funds accounted for about 15% of Voloridge Investment Management’s $9.5 billion in total assets, the person said.
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