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Wall Street Journal: Private-equity giant Blackstone Group Inc. is making a wider push to increase diversity in portfolio companies and their boards of directors with two new initiatives. [Full article available to Wall Street Journal subscribers.]
Bloomberg: Despite widespread objections from the money management industry, President Donald Trump, through the U.S. Department of Labor led by Eugene Scalia, is speeding ahead with a proposal to make it more difficult for fiduciaries of retirement plans to direct money to ESG-focused funds. [Full article available to Bloomberg subscribers.]
Funds Europe: UK pension funds are planning to increase allocations to renewables over the next five years, according to a report.
Private Equity Wire: Almost two thirds (63 per cent) of UK private equity firms now take into account Environmental, Social and Governance (ESG) principles in their investments but some firms risk falling behind as ESG rises up investors’ agendas.
Institutional Asset Manager: Research carried out by Redington has found that less than half (47 per cent) of asset managers assess gender diversity when researching potential investments – despite recognising its importance within their own firms.
Pensions & Investments: The pressure on U.S. financial regulators to address climate risk is growing as investors and regulators overseas — and others at the state level — continue to forge ahead. [Full article available to Pensions & Investments subscribers.]
Bloomberg: ESG investing is the most significant development in money management since the creation of the exchange-traded fund two decades ago and it will reshape finance just as passive funds have. [Full article available to Bloomberg subscribers]
Khazanah Nasional Berhad (“Khazanah”) is a sovereign wealth fund in Malaysia. As at December 31, 2019, Khazanah had RM 131.5 billion (USD 31.3 billion) of assets under management.
As a part of its responsible investment approach, Khazanah considers ESG risks and opportunities throughout its investment process. For example, the firm applies negative screening criteria on controversial weapons, gambling operations and the production of alcohol and tobacco. With regards to Active Ownership, Khazanah engages with management on ESG issues and exercises its shareholder rights to improve portfolio companies’ responsible business practices. Finally, Khazanah is a signatory to the UN PRI, the Malaysian Code for Institutional Investors and the Santiago Principles.
Financial Times: Which sectors of the market would flourish during a Biden presidency? That is a big question for investors right now, as Democrat Joe Biden rides high in the US polls – and his party makes bold statements about fiscal policy, unions and fossil fuels. [Full article available to Financial Times subscribers.]
CNBC: There’s growing appetite to invest in a more sustainable way, but experts warn that transparency is needed in this space if it’s to really do any good for the planet.
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