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ESG News: The U.S. Commodity Futures Trading Commission (CFTC) has established its first-ever guidelines for trading voluntary carbon credit derivative contracts. This is a pivotal step for the nascent market, providing much-needed oversight and integrity.
Funds Europe: The Institute for Energy Economics and Financial Analysis (IEEFA) has highlighted the need for investment products prioritising long-term decarbonisation goals over short-term financial returns.
The Business Standard: EY faces scrutiny in India over the death of audit executive Anna Sebastian Perayil, which her mother blamed on a "backbreaking" workload in a letter to EY India's chairman. The incident has already sparked a federal government investigation.
BNN Bloomberg: Institutional investors holding a combined $9.5 trillion of assets say they’ve slashed portfolio emissions at a rate that aligns them with the goal of limiting global warming to the critical threshold of 1.5C.
Australian Securities and Investments Commission: The Federal Court today ordered Vanguard Investments Australia to pay a $12.9 million penalty for making misleading claims about environmental, social and governance (ESG) exclusionary screens.
ESG Today: TPG Rise Climate, the climate investing strategy of TPG’s global impact investing platform, TPG Rise, announced that it has raised $1.25 billion in initial capital commitments for its new Global South Initiative (GSI) strategy, including a $500 million commitment from UAE-backed climate investment platform ALTÉRRA.
Institutional Investor: Asset owners and managers have faced political backlash and lawsuits for their use of environmental, social and governance factors when investing (especially BlackRock).
FinTech Global: The debate surrounding the acronym of ESG has evolved from divisive to disappointing within the financial services sector. According to ACA Group, however, the consensus remains that ESG data is crucial for gauging the sustainability, ethical standards, and long-term viability of companies.
Funds Europe: 17% of Article 9 funds perform worse in impact than the average Article 8 fund, with investments in sectors like alcohol, luxury cars and airlines, according to “the first” open database on science-based impact of funds” launched by The Upright Project, a Finland-based impact data provider.
MSN: The three largest US asset managers cut their support for so-called ESG proposals by shareholders during the last voting season amid Republican pushback against the controversial investing policy, according to a report.
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