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IPE: UK defined contribution (DC) master trust NEST has adopted a climate change policy aimed at aligning its portfolio with the goal of keeping global temperature rises within 1.5°C above pre-industrial levels.
Bloomberg: Metals and mining are a critical part of the future of clean energy, and that’s triggering major shifts in a historically dirty industry.
Financial Times: As environmental, social and governance investing has swept across the financial world, the “E” in ESG has become nearly synonymous with attempts to mitigate climate change. But while the climate crisis is one of the planet’s gravest problems, it is not the only environmental threat that needs tackling. [Full article available to Financial Times subscribers.]
Bloomberg: Investors are overlooking the risk of water scarcity and the impact it could have on their portfolios in the coming decade, according to BlackRock Inc.
GreenBiz: Morgan Stanley has become the first major U.S. bank to commit to measuring and disclosing the climate impact of its loans and investments, announcing last week that it has joined a multi-trillion dollar group of global financial institutions developing a standardized method for carbon accounting.
Institutional Investors: “Culture matters.” How many times have you uttered this phrase when talking about your own company or your manager due diligence process?
Top 1000 Funds: Investors have only a few days to comment on the US Department of Labor’s proposed amendment to investment duties regulation and ESG – which many believe is out of step with the market and potentially damaging to retirees’ retirement income – with the window for comment closing on July 30.
The Washington Post: In tightknit social media groups and private email chains, black entrepreneurs share their Silicon Valley stories. It often starts with a racist comment from a venture capitalist or a subtle jab that reveals a deep bias. The stories usually have the same ending: a decision to pass on investing.
Fondaction was created in 1996 by the Confédération des Syndicats Nationaux (Confederation of National Labour Unions). As of May 31 2020, Fondaction had CA$ 2.26 billion of assets under management.
Fondaction has been considering the environmental and social externalities of their investments since they started operations, as such they became signatories to the PRI in 2011. Furthermore, as part of their climate strategy, Fondaction has implemented a negative screening criteria based on the ownership of fossil fuel reserves and has succeeded in reducing by half the carbon footprint of its investments from 2015 to 2018. Finally, the organization has launched innovative thematic funds seeking to invest in companies involved in the rehabilitation of soils, climate solutions, and sustainable agriculture in emerging countries.
Financial Times: Just weeks before Boohoo was hit with fresh allegations about poor working practices in factories that make its clothes, MSCI gave the UK fast-fashion retailer a clean bill of health. [Full article available to Financial Times subscribers.]
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