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ESG Today: Following the International Financial Reporting Standards Foundation (IFRS) announcement in February of plans to move forward towards the establishment of global sustainability reporting standards, the IFRS has announced the formation of a working group consisting of leading reporting standards bodies to accelerate that goal.
Institutional Investor: Community foundations are prioritizing diversity and inclusion in their investment portfolios and grant-making, according to investment consulting firm NEPC.
Hedge Week: There is a lot of talk about ESG. It dominates column inches and pitch decks at levels unimaginable only a decade ago. The need for companies to adopt and integrate ESG is imperative if environmental issues – the hardest and most important component – are to be resolved in the coming decades and a mass extinction avoided.
Reuters: Goldman Sachs Group Inc’s CEO responded to complaints from junior bankers by saying management is going to work harder to give them Saturdays off and to shift bankers from other divisions to the busiest teams in the investment bank, according to a transcript of a call seen by Reuters on Monday.
BNN Bloomberg: Bitcoin’s massive rally over the past year means it’s only getting worse for the environment.
Institutional Investor: Inappropriate questions, sexual harassment, racial discrimination: The world’s largest asset manager confronts an ugly past.
Top 1000 Funds: Two of the world’s most influential institutional investors are hitting a brick wall in their attempts to engage with Amazon’s board on workplace safety. Every time the Netherland’s APG and the office of New York City Comptroller, fiduciary to New York city’s five pension funds, try to engage with the board at the tech giant in which they own a combined $6.5 billion they get push back from management.
Established in 2006, the Swiss Federal Pension Fund PUBLICA (“PUBLICA”) is the pension fund of the federal state employees of Switzerland. As at December 31, 2019, they had CHF 41 billion of assets under management.
As a responsible investor, PUBLICA has implemented screening criteria around the Swiss Association for Responsible Investments SVVK-ASIR'S list of exclusions and the UN Global Compact’s principles. With regards to its infrastructure bond portfolio, PUBLICA favors investments with a better ESG profile over alternatives that have the same risk/return profile. With respect to active ownership, PUBLICA actively exercises its voting rights and actively seeks dialogue with portfolio companies on ESG issues. To further its commitment to responsible investing, the organization became a signatory to the UN PRI in November 2020.
Top 1000 Funds: Sustainability bonds issued by sovereign governments in developing and emerging markets offer exciting investor opportunities. The proceeds are used for impact and allow investors to target real change in sectors like health and education.
ESG Today: World Bank Group member the International Finance Corporation (IFC), the Global Impact Investing Network (GIIN), and a group of leading impact investors announced the launch of the Joint Impact Indicators (JII), a set of high-level, harmonized indicators aimed at helping impact investors to measure and report on their investment activities.
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