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Funds Europe: Investment professionals doubt firms are doing enough to recruit from racially diverse backgrounds despite the prominence of diversity and inclusion in the industry.
Financial Times: Overhaul is vital if investors are to understand the risks companies face, says US asset manager. [Full article available to Financial Times subscribers.]
Reuters: The British government has for the first time issued a set of standards for asset managers engaged in the multi-billion pound sustainable investment sector as it looks to bolster its green credentials ahead of the next round of global climate talks.
Bloomberg: A new coalition of institutional investors and advisers overseeing more than $3 trillion in assets is pushing U.S. public companies to disclose the racial makeup of their boards in a bid to increase the diversity of corporate directors. [Full article available to Bloomberg subscribers.]
BNN Bloomberg: The Dutch fund manager Robeco Institutional Asset Management has added 232 fossil-fuel producers to its “exclusion list.” The companies range from the Philippines’s Aboitiz Equity Ventures and China’s Zhengzhou Coal Industry & Electric Power to more recognizable names like American Electric Power and Westmore Coal.
Institutional Asset Manager: The Standards Board for Alternative Investments (SBAI) has published a memo that provides a multi-jurisdictional review of current regulatory guidance on responsible investment.
Institutional Asset Manager: Almost all of the largest hubs for green finance are concentrated within Western Europe, a biannual index shows, with Amsterdam, Zurich, and London continuing to lead efforts to finance a sustainable future.
Established in 2005, Établissement de retraite additionnelle de la fonction publique (“ERAFP”) is responsible for investing the French public service additional pension scheme. As at December 31, 2019, they had € 34.7 billion ($US 38.3 billion) of assets under management.
As a UN PRI signatory, ERAFP integrates environmental, social and governance (ESG) considerations in its investment process. For example, they have developed an internal rating based on their Socially Responsible Investment (SRI) Charter to favour best in class investments. With regards to Active Ownership, the investor participates in collaborative engagement initiatives on corruption, labour relations and working conditions. Finally, it is a member of the Institutional Investors Group on Climate Change (IIGCC) and the Extractive Industries Transparency Initiative (EITI).
Guidelines for ERAFP’s Shareholder Engagement
Bloomberg: There’s way more demand for bonds than there is supply, which isn’t a good thing. [Full article available to Bloomberg subscribers.]
Bloomberg: A specialized set of asset managers, responsible for investing $850 billion in higher-yield credit worldwide, is at risk of losing business unless it fixes its glaring shortage of women, especially in top jobs. [Full article available to Bloomberg subscribers.]
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