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Asia Times: As the EU has already done, the ASEAN region can and must set a high bar to attract, retain and deploy ESG investment.
The Global: Sustainable investing cannot be treated as a static checklist or a corporate merit badge. The ever-evolving way of doing business and the adoption of data-driven technologies call for a shift of focus on human rights and specifically on the fundamental right to privacy.
The Guardian: Large companies and financial institutions in the UK will have to come clean about their exposure to climate risks within five years under the terms of a tougher regime announced by the chancellor, Rishi Sunak. [Full article available to The Guardian subscribers.]
Finextra: Scottish Widows is to divest at least £440 million from companies that have failed to meet its environmental, social and governance (ESG) standards, and warned this figure could grow much further if companies do not take action to improve the sustainability of their business practices.
Institutional Asset Manager: Stocks with higher ESG ratings outperformed those with weaker ESG ratings in every month from January to September, other than April, according to new research by Fidelity International.
Institutional Investor: A woman accused Kevin Ulrich — head of hedge fund firm Anchorage Capital Group and board chairman of movie studio MGM Holdings — of sexually assaulting her in New York’s Mercer Hotel, but then discontinued the suit, legal filings show.
BNN Bloomberg: The Australian government will on Tuesday defend a class-action lawsuit that claims it’s misleading investors by failing to disclose the impact of climate risk in its bonds.
Established in 2006, Future Fund is Australia’s sovereign wealth fund. It is responsible for investing for the benefit of future generations of Australians and managing six public asset funds. As at June 30, 2020, it had AUD205 billion of funds under management.
As part of its responsible investment approach, Future Fund integrates environmental, social and governance (ESG) issues when considering investment proposals, and selecting and monitoring investment managers. Additionally, the investor applies negative and norms-based screening on companies directly involved in manufacturing tobacco products, the 2008 Convention on Cluster Munitions and the 1997 Anti-Personnel Mines Convention. With regards to Climate Change, Future Fund considers carbon price, transition and physical risks in its investment processes. Further, it supports the Taskforce on Climate-related Financial Disclosures (TCFD) and engages with investee entities, either directly or in partnership with investment managers, to advocate for the adoption of TCFD recommendations.
IPE: Members of the UN-convened Net-Zero Asset Owner Alliance have published their joint position on thermal coal today, setting out the principles they say all companies in their portfolios should respect.
Reuters: The pay gap between men and women doing the same job in Europe narrowed only marginally this year, the European Commission said on Friday, even though a vast majority of EU citizens support eliminating that difference.
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