.png?width=200&height=78&name=CH%20Diligence%20(thicker%20line-white).png "CH Diligence (thicker line-white)")
Los Angeles Times: Just as 2020 seemed like it might be a breakthrough year for corporations looking to combat climate change, the novel coronavirus emerged.
Reuters: Companies voicing support for racial equality should back up their talk by releasing their workforce diversity data, New York City Comptroller Scott Stringer says in letters being sent to 67 companies in the S&P 100 on Wednesday.
Pensions & Investments: Combining environmental, social and governance assessments for companies into an aggregated score can present a trade-off in performance.
Institutional Asset Manager: The coronavirus crisis has triggered some ESG rebalancing in the sustainable fixed income space in favour of social bonds, according to NN Investment Partners. In the past, green bonds have dominated, but the firm says that a heightened focus on the social implications of the pandemic has shifted the emphasis from E to S in the last couple of months, and led to an increase in bonds that raise funds for social projects.
Financial Times: Coronavirus and its economic consequences threaten to wipe out progress on gender equality at work as women are at greater risk of losing their job, more likely to be exposed to infection and take on more of the burden of unpaid care, the International Labour Organization has warned. [Full article available to Financial Times subscribers.]
Institutional Asset Manager: Banks, investors and insurers need to understand their impact and dependency on nature, and start setting targets such as ‘net positive impact' to achieve international policy goals on biodiversity, finds new research by the United Nations Environment Programme (UNEP) and the Natural Capital Finance Alliance (NCFA).
Bloomberg: MetLife Inc., the largest U.S. life insurer by market capitalization, sold green bonds for the first time ever as it issued $750 million of debt, adding to a surge in issuance of the securities from the financial sector.
Institutional Investor: Alongside Bono, Richard Branson, and eBay founder Pierre Omidyar, private equity firm TPG launched the Rise Impact fund in 2016. The offering committed “to deliver positive and sustainable impact” while creating a “top-performing fund.” At the time, Bono remarked that “capitalism is going up on trial, and I think that it’s clear that putting profit before people is a nonsustainable business model.”
The Connecticut Retirement Plans and Trust Funds ("CRPTF") consists of six State Pension Funds and nine State Trust Funds. CRPTF has approximately 212,000 pension plan beneficiaries and participants which include state and municipal employees, teachers, retirees and survivorships, as well as for trust funds that support academic programs, grants, and initiatives throughout the State. As of December 31, 2018, CRPTF had $32.5 billion of assets under management.
As a signatory to the UN Principles for Responsible Investment, CRPTF only selects investment partners and money managers who carefully review the effect of ESG issues on companies. Additionally, CRPTF has implemented diversity principles to assess the diversity policies of its vendors, including asset managers. Further to that, CRTPF has launched a domestic equity brokerage program which sets targets for utilizing minority and women-owned, Connecticut-based, and emerging broker-dealers. Finally, CRPTF launched Connecticut Horizon Fund to create opportunities for minority-owned firms, woman-owned firms, Connecticut-based firms, and emerging firms with assets less than $2 billion.
Bloomberg: Matt Patsky confronts corporations on everything from their carbon footprints to the diversity of their workforces. But now, in the wake of racial unrest sweeping America, Patsky is having a reckoning of his own.
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