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Institutional Asset Manager: A GBP3.2 trillion investor coalition against modern slavery, including Aberdeen Standard Investments, Church of England Pensions Board, Legal & General and Rathbones, has put pressure on 22 laggard companies on the FTSE 350 to comply with the UK’s modern slavery laws.
Reuters: A London judge on Thursday rejected an attempt by the lawyer of Crispin Odey, one of Britain’s most high-profile hedge fund managers, to throw out an historic indecent assault case early.
Financial Post: Uncertainty about the impact climate change may have on the financial system should not prevent financial firms and their supervisors from moving now to prepare for the shocks to come, a key Federal Reserve policymaker said on Thursday.
Pensions & Investments: Secretary of Labor nominee Marty Walsh has concerns about two recent rule-makings finalized under the Trump administration and, if confirmed, will instruct the Employee Benefits Security Administration to re-examine the rules. [Full article available to Pensions & Investments subscribers.]
Pensions & Investments: Scottish Widows' Master Trust, a U.K. defined contribution multiemployer plan, selected four managers to manage the assets of four newly launched ESG investment options, a spokeswoman confirmed. [Full article available to Pensions & Investments subscribers.]
BNN Bloomberg: BNP Paribas will have to defend itself against several of the claims in a suit accusing the bank of facilitating human rights abuses in the Sudan after a New York federal judge rejected parts of its request to dismiss the suit.
IPE: A new centre is being launched in the UK with the aim of arming financial institutions with the data and analytics they need to contribute to the shift to environmentally sustainable economic activity. Asset owners have been keen to support the project.
Founded in 1999 by John Swift, United Parcel Services’ heir and environmentalist, the Swift Foundation seeks to support biodiversity conservation, protection and promotion of Indigenous traditional knowledge and innovations, inclusive and local economies, as well as research that challenges and problematizes technocratic solutions.
In 2009, the Swift Foundation looked at how they could use their endowment could directly support socially and environmentally responsible endeavors, which led to the organization’s first mission-related investment policy. The Swift Foundation has allocated 30% of its endowment towards Mission Related Investments, which focuses on addressing climate change, enhancing the health of communities globally and supporting biological and cultural diversity. Additionally, the Swift Foundation has implemented a comprehensive list of exclusionary restrictions, which include filters such as non-sustainable timber, the Toxic 100 List, coal, controversial weapons and genetically modified organisms.
Mission Related Investing Policy
City A.M.: Lawyers for an environmental charity have written to HSBC to remind it of its legal duties with regard to climate risk, as the banks mulls supporting a climate change resolution ahead of its next annual general meeting.
Responsible Investor: Global investors are facing an unprecedented situation with Uighur forced labor present in hundreds of factories throughout China in numerous sectors.
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