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BNN Bloomberg: HSBC Holdings Plc promised to “phase down” its financing of the fossil fuel industry, sending a warning to oil and gas clients as the bank works toward its target of net-zero emissions.
Hedge Week: The SBAI, a global alliance of alternative investment managers and allocators and custodian of the Alternative Investments Standards, announced it has created a forum of alternative investment industry organisations committed to addressing diversity in the alternatives industry.
BNN Bloomberg: For years now, managers of big funds touting their supposed focus on the environment, social issues and corporate governance have been faulted for holding shares of fossil-fuel purveyors (including Exxon Mobil Corp. and Chevron Corp.), weapons manufacturers (like Raytheon Technologies Corp.) and mining companies (such as Newmont Corp.).
BNN Bloomberg: Governments should subsidize green technologies and infrastructure to combat climate change, with such investments putting less upward pressure on prices than alternatives including carbon taxes, according to Bridgewater Associates, the world’s largest hedge fund.
Investment Week: New research has revealed that 31 out of 36 fund managers, including Federated Hermes, Rathbones and Liontrust, do not have any investments in Russian-listed entities in their retail sustainable and ESG fund offerings, while the five that did typically had “very limited” holdings.
Institutional Investor: ESG may have gone mainstream, but many of the largest asset owners in the U.S. and Europe aren’t satisfied with their environmental, social, and governance index providers.
Institutional Investor: Since the U.K. launched the landmark Modern Slavery Act in 2015, global asset managers like Abrdn, BNY Mellon, and Lazard have pledged to remove modern slavery — a term that includes human trafficking, forced labor, debt bondage, and forced and early marriage — from their operations and supply chains.
Funds Europe: That is the conclusion of a new survey conducted by UK direct-to-consumer investment platform, Interactive Investor, among a sample of 2,058 visitors to its website earlier this month.
Business Wire: Black Women in Asset Management (BWAM), a non-profit organisation promoting the advancement of Black women working in the asset management industry, is delighted to announce Ares Management, BlackRock, Federated Hermes, Helios Investment Partners, J.P. Morgan Asset Management, M&G plc, Maniyar Capital, Morningstar, Inc. and State Street Global Advisors as new institutional members.
U.S. News: UBS aims to cut its financing of fossil fuel emissions by more than two-thirds by 2030, Switzerland's biggest bank said, joining lenders setting targets for the first time this year.
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