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IPE: FIR and France Invest publish report about conclusions reached by working group of investment professionals. [Full article available to IPE subscribers.]
Yahoo! Finance: BlackRock on Thursday warned companies that rely on nature or have an impact on natural habitats to publish a "no deforestation" policy and their strategy on biodiversity or face pushback from the asset manager at their annual meetings.
Reuters: JPMorgan Chase & Co is expanding a recruitment program to fast-track more Black college students to internships and jobs in the investment bank, commercial bank and asset & wealth management businesses, the company said on Wednesday.
BNN Bloomberg: The biggest Nordic bank plans to reduce its holdings of oil and gas stocks. The largest French insurer dropped RWE AG as a client because of the German energy giant’s reliance on coal. HSBC Holdings Plc announced plans to scale back its lending to fossil-fuel companies following criticism from shareholders. And the European Union has introduced new rules intended to crack down on greenwashing by managers of investment funds.
Top1000Funds: Targets, allocating to diverse managers and acting on calls for change from diverse staffers are just some of the ways asset owners are boosting diversity in their own organisations. Investors at the Kresge Foundation, AP2 and AIMCo talk about their diversity, equity and inclusion action.
The Asset: Increased efforts to bring sustainable disclosure standards together.
Funds Europe: Asset managers are keeping UK pension trustees in the dark on how they oversee their investments, research has suggested.
Created in 2008 by the Luxembourg State and the Oeuvre Nationale de Secours Grande-Duchesse Charlotte, Fondation de Luxembourg now supports and guides donors who wish to make a long-term commitment to the development of philanthropic projects.
As part of its responsible investment practices, Fondation de Luxembourg applies negative and norms-based screening on controversial weapons, pornography, tobacco, and countries on which the European Union has imposed sanctions. Moreover, it favors socially responsible investment funds with an ESG label granted by an independent labelling agency, instruments that have a clear ESG focus for index-tracking investments, and investments in microfinance and impact funds. Furthermore, when selecting an asset manager, the foundation reviews their socially responsible investment practices. Fondation de Luxembourg became a UN PRI signatory in December 2020.
Socially Responsible Investment Policy
The Asset: Four pointers to speed trend towards gender equality on International Women’s Day.
IPE: Review of existing schemes comes ahead of next week’s introduction of EU sustainability regulations.
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