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IPE: A trio of industry bodies have launched the word’s first listed infrastructure index to encourage better environmental, social and governance (ESG) disclosure.
Yahoo! Finance: Malaysia’s largest pension fund aims to make all its investments based on environmental, social and governance practices by 2030, betting a strategy based on holding sustainable assets can make it more resilient against future market upheavals.
IPE: BlackRock will be publishing a temperature alignment metric for public equity and bond funds, where market data is sufficiently reliable, as part of a series of actions to help investors with their climate change-related goals, it disclosed today.
Wall Street Journal: Five of the largest U.S. banks publicly committed to mandating a diverse slate of applicants when hiring employees, part of a push to diversify an industry whose top ranks remain largely white and male. [Full article available to Wall Street Journal subscribers.]
Bloomberg: Three of New York City’s five public employee pension funds are divesting $4 billion from securities related to fossil-fuel companies. [Full article available to Bloomberg subscribers.]
Los Angeles Times: Leon Black, who founded Apollo Global Management Inc. three decades ago in the aftermath of one scandal, is retiring as chief executive in the aftermath of another, this one involving the notorious sex offender Jeffrey Epstein.
Bloomberg: Credit Suisse Group AG, ING Groep NV and BNP Paribas SA will stop providing trade financing for oil exports from the Ecuadorian Amazon, after pressure from climate activists. [Full article available to Bloomberg subscribers.]
Minnesota State Board of Investment (MSBI) is responsible for managing the retirement funds, trust funds and cash accounts for the State of Minnesota. As at September 30, 2020, MSBI had US$ 105 billion of assets under management.
As part of its responsible investment practices, MSBI applies negative screening criteria on companies which derive 25% or more of their revenue from the extraction and/or production of thermal coal. Moreover, MSBI integrates environmental, social and governance (ESG) factors in its active ownership practices. With regards to climate change, the organization has appointed an external consultant to assess its portfolio’s exposure to transition risks and opportunities. Finally, MSBI is part of several ESG-related industry groups, such as the UN PRI, the Ceres Investor Network, Climate Action 100+ and the Thirty Percent Coalition.
BNN Bloomberg: Investor demand for socially responsible projects is slowly pushing its way into Europe’s private credit markets, kicking off a shift in a booming area of company finance.
Responsible Investor: Report by RI and Credit Suisse explores awareness and concerns for natural capital.
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