.png?width=200&height=78&name=CH%20Diligence%20(thicker%20line-white).png "CH Diligence (thicker line-white)")
GreenBiz: Last summer, the investment arm of northern Europe’s largest financial services group dropped Brazilian meat giant JBS from its portfolio. Nordea Asset Management, which manages roughly $280 billion, gave several reasons for the decision, including JBS’s links to farms involved in Amazon deforestation.
Reuters: The U.S. Securities and Exchange Commission has formed an enforcement task force to examine misconduct related to environmental, social and governance issues as the regulator ramps up a focus on climate and other hot-button topics.
Top1000Funds: The climate-impact dashboard is part of a 3-D investment framework that balances risk, return and impact. This includes total portfolio thinking, long-horizon investing, impact investment strategies, system-level engagement and strategic partnership between asset owners and asset managers. Here Tim Hodgson lays out eight guiding principles to help shape a climate-impact dashboard.
BNN Bloomberg: Three days after new Citigroup Inc. Chief Executive Officer Jane Fraser outlined a net-zero greenhouse-gas emissions target, Goldman Sachs Group Inc. CEO David Solomon is following suit.
Top1000Funds: The world’s largest sovereign wealth fund says that voting is one of the most important tools to safeguard its assets. Ahead of the AGM season getting underway, NBIM – which owns the equivalent of 1.5 per cent of every listed company – plans to publish its voting decisions five days ahead of corporate meetings in a bid to increase transparency.
Reuters: Private equity firms are proving there’s still plenty of profit in the U.S. coal industry despite a decade of falling demand for the fossil fuel. They are spending billions of dollars buying coal-fired plants on the cheap - and getting paid even when they are not providing power.
Institutional Asset Manager: The average pay for female directors at FTSE-350 financial services firms stands at GBP247,100 compared to GBP722,300 for their male counterparts, suggesting slow progress has been made in promoting women to senior, higher-paid executive positions, according to new research by Fox and Partners, the employment and partnership law specialists.
The California Wellness Foundation was established in 1990, when HealthNet, one of the state's largest health care and insurance providers, converted from non-profit to for-profit status. The foundation now aims to protect and improve the health and wellness of the people of California by increasing access to health care, quality education, good jobs, health environments and safe neighbourhoods.
In 2017, the California Wellness Foundation started to align their investments with their mission and vision. Since then, they have allocated $US 48 million to mission-related investments that provide resources and capital to underserved communities. The foundation’s mission-related investments integrate environmental, social and governance considerations and actively exclude companies causing the greatest harm to underserved communities. Moreover, the California Wellness Foundation committed to invest $US 10 million in program-related investments that target affordable housing or small business lending over the next five years.
Financial Post: For the second consecutive year, Barclays Plc shareholders will vote on whether the bank should wind down its lending to the fossil-fuel sector.
City A.M.: The US mutual fund company Vanguard has been named the world’s largest institutional investor in the coal industry, with holdings of almost $86 bn, according to research carried out by Rainforest Action Network, Urgewald and 28 other NGO partners.
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