.png?width=200&height=78&name=CH%20Diligence%20(thicker%20line-white).png "CH Diligence (thicker line-white)")
Financial Times: As 2020 kicked off, Dan Gocher at the Australasian Centre for Corporate Responsibility, a shareholder advocacy organisation, was feeling “pretty optimistic” about its plans to force big Australian energy companies to tackle climate change. [Full article available to Financial Times subscribers.]
Financial Times: In late June, a climate-related proposal set before the annual general shareholders’ meeting of Mizuho Financial Group was soundly rejected after receiving a little over a third of the votes cast. Yet defeats, say sustainability experts, have rarely been so revolutionary. [Full article available to Financial Times subscribers.]
Financial Times: The venture capital industry structurally discriminates against minorities. That statement should provoke alarm, but most people that work in the technology ecosystem have come to accept it. [Full article available to Financial Times subscribers.]
Institutional Asset Manager: EFAMA says that this may be the result if the European Commission (EC) decides to implement overly-prescriptive rules or makes sustainable investment products a “default option” for end-investors, when it publishes its Renewed Sustainable Finance Strategy in the third quarter of 2020.
Bloomberg: A group of former Morgan Stanley employees is asking the Wall Street firm to release them from confidentiality agreements so they can tell their stories of alleged racial discrimination at the bank.
Institutional Investor: Investors including California’s $246 billion teachers’ pension fund sent letters Tuesday to the heads of the U.S. Federal Reserve, Securities and Exchange Commission, and other major financial agencies calling for regulatory action on climate change.
Bloomberg: The Italian oil company Eni SpA will set a goal of reaching net-zero emissions in its European operations by 2050, Chief Executive Officer Claudio Descalzi told Bloomberg in an interview. In doing so, Eni will become the fifth oil major to have made a similar pledge within the past year. (Repsol SA, BP Plc, Royal Dutch Shell Plc and Total SA got there first.)
Bloomberg: Brookfield Asset Management Inc. and Canada Pension Plan Investment Board joined more than 200 Canadian organizations in promising to fill at least 3.5% of their top executive and board roles with Black leaders by 2025.
Founded in 1767, Storebrand offers pension, savings, insurance and banking products. With NOK 633 billion (US$ 70 billion) of assets under management as of December 31 2019, Storebrand is Norway's largest private asset manager.
Storebrand first appointed a Sustainable Investment team in the mid 1990s to develop the firm's approach to negative exclusions. Today, the firm implements a screening criteria to all its funds around environmental practices, corruption, human rights, coal, oil sands, controversial weapons, cannabis and unsustainable palm oil. Furthermore, Storebrand developed a scoring methodology for companies that enables them to assess both ESG risks and contribution to the SDGs in a consistent manner.
Pensions & Investments: Ceres says companies addressing the systemic risk of climate change should make sure their lobbying activity is compatible.
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