.png?width=200&height=78&name=CH%20Diligence%20(thicker%20line-white).png "CH Diligence (thicker line-white)")
Bloomberg: Citigroup Inc. Chief Executive Officer Michael Corbat said banks should start walking away from clients who don’t acknowledge the need to reduce their carbon emissions -- even as he pledged support for the fossil-fuel industry.
Bloomberg: Sustainability reporting is quickly going mainstream. While companies aren’t always required by regulators to report their greenhouse gas emissions, human rights records and wastewater management, investors are pushing them for this information at a faster clip.
Bloomberg: Europe’s bankers and traders got plenty of slack from their regulators to weather the pandemic. For money managers, it’s a different story.
Citywire Selector: Odey Asset Management has drawn up contingency plans including the closure of his flagship fund as its founder faces court over an alleged indecent assault.
Financial Times: Asia’s fastest-growing market for debt billed as “socially responsible” has drawn criticism after data showed the vast majority of this funding has been raised for jobs and housing rather than the environment. [Full article available to Financial Times subscribers.]
Financial Times: A growing chorus of big investors, including Calpers, Schroders and DWS, are piling pressure on companies and auditors to include material climate risks in accounts, after a similar move by oil company BP this summer. [Full article available to Financial Times subscribers.]
Financial Times: Investment funds branded as “sustainable” are under fire for their heavy exposures to US tech giants at the centre of controversies over data privacy, labour practices and monopolistic behaviour. [Full article available to Financial Times subscribers.]
AP4 is one of five funds that act as a buffer in Sweden's national pension system. The Pension System was created in 1960, but it was not until 2001 that the current AP fund structure was established, allowing the AP funds to diversify their strategies. One of the key investment rules, set out by the Ministry of Finance, is to consider environmental and ethical matters without compromising the objective of attaining high returns. As of June 30 2020, AP4 had SEK 403.2 billion of assets under management (US$ 46.4 billion).
Through sustainable investments and active ownership, AP4 is able to create sustainable value for its trustees. ESG issues are considered in both its internally and externally managed portfolios. Further, AP1, AP2, AP3 and AP4 collaborate through the Ethical Council to lead engagement with investee companies across issues linked to the Sustainable Development Goals. Finally, AP4 is active in many collaborative initiatives on responsible investing. For example, they joined several of their peers to engage with the Brazilian Embassy reacting to a legislative proposal over Deforestation concerns in 2020.
Bloomberg: Neil Record’s firm says it incorporates ESG in policies and strategy, but he personally supports the U.K.’s biggest climate skeptic group.
Institutional Asset Manager: The green bond market is teeming with new investors, and issuers are expanding supply on all fronts – issuing ever-riskier types of debt under a green label, and causing some observers to ask whether the market is growing in the right direction.
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