.png?width=200&height=78&name=CH%20Diligence%20(thicker%20line-white).png "CH Diligence (thicker line-white)")
2021-01-07
The Straits Times: Chinese money managers are rushing to launch new energy funds, seeking to capitalise on investors' green fever which has been fuelled by President Xi Jinping's carbon-neutrality pledge.
Reuters: The board of directors of Malaysian firm Top Glove Corp, the world’s largest maker of medical grade gloves, has failed egregiously in protecting its workers from COVID-19, U.S. investor BlackRock said, calling for its removal.
Institutional Investor: Just one day after senior asset management executives and other corporate leaders signed a letter to Congress demanding that lawmakers certify the 2020 presidential election results, they watched in horror as pro-Trump extremists, some armed, staged an insurrection at the U.S. Capitol on Wednesday in an unprecedented attack on U.S. democracy.
BNN Bloomberg: Banks are failing to address the global plastic-pollution crisis, having provided $1.7 trillion in financing to packaging companies, retailers and related businesses, according to a report.
Pensions & Investments: More than a dozen institutional investment consulting firms have formed the Institutional Investing Diversity Cooperative to increase data and transparency around diversity in the asset management industry, the group said Tuesday. [Full article available to Pensions & Investments subscribers.]
Think Advisor: Many investors are asking for it, relative performance is strong and asset managers are providing more investment options. [Full article available to Think Advisor subscribers.]
Funds Europe: Three private equity firms are among a series of backers to sponsor diversity group Black Women in Asset Management (BWAM).
The Hewlett Foundation was established in 1966 by Flora and William Hewlett, with their eldest son, Walter Hewlett. Today, the organization supports efforts to advance education for all, preserve the environment, improve global development, promote performing arts, make the philanthropy sector more effective and strengthen communities in the San Francisco Bay Area. As at June 30, 2020, the Foundation had $US 10.4 billion of assets under management.
As part of Hewlett Foundation’s investment approach, the organization applies negative screening on tobacco companies and no longer invests in private partnerships primarily involved in oil and gas drilling. Additionally, the Foundation votes proxies on climate and forestry issues. With regards to Climate Change, the organization supports initiatives that help reduce the use of fossil fuels, improve energy systems, and promote cross-sector integration and innovation. As such, in the the beginning of 2021, the Hewlett Foundation has awarded $US 2.45 million to six promising initiatives that will contribute to align passive asset management with climate action.
Top1000Funds: A cohort of ESG experts argued that the current data and research available for investors is lacking. Elsewhere they urged investors to engage with corporate boards to encourage change.
GreenBiz: While the attention of the world is on a rapid and sustainable COVID-19 recovery, increasing climate change risks continue to loom large. Recovery will require investments that create jobs and ensure not only immediate green recovery, but also long-term sustainable development. We need ready solutions that promote local development of climate-resilient infrastructure and use capital and innovation from the private sector to advance public objectives. We need green banks: an implementable, versatile answer for sustainable economic recovery.
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