.png?width=200&height=78&name=CH%20Diligence%20(thicker%20line-white).png "CH Diligence (thicker line-white)")
Institutional Asset Manager: An informal stakeholder group of investors, finance industry groups, and NGOs has set out ways to improve the reporting by businesses of environmental, social and governance (ESG) information, saying the world is “at a crossroads” for building a sustainable recovery from the coronavirus pandemic.
Financial Times: What can asset managers do to help during a pandemic? The answer is quite a lot.
Pensions & Investments: ERISA plan fiduciaries cannot invest in ESG vehicles that sacrifice investment returns or take on additional risk, a proposed rule says.
The Economist: In the mayfair office of Chris Hohn, the boss of TCI, a hedge fund, an enormous photograph of a melting iceberg hangs on one wall. Robert Gibbins, the founder of Autonomy Capital, another London hedge fund, says his desk is adorned with the deformed remains of a car bumper, melted by an Australian wildfire. [Full article available to The Economist subscribers]
Financial Post: Seven major European investment firms told Reuters they will divest from beef producers, grains traders and even government bonds in Brazil if they do not see progress in resolving the surging destruction of the Amazon rainforest.
Financial Times: More than half of the world’s largest pension schemes have made no allocation to climate-related passive funds in spite of mounting pressure on institutional investors to step up the fight against global warming. [Full article available to Financial Times subscribers]
Network for Business Sustainability: No company is safe from hedge fund activism. In 2019, activist hedge funds targeted 839 companies in 19 countries. Activist hedge funds control more than $146 billion in assets, part of the more than $3 trillion hedge fund market.
S&P Global: Prolonged working from home could reinforce exclusive behaviors and biases and undermine inclusive workplace cultures, which experts warn could have long-term implications for organizations that do not pay attention to the risks.
The Foundation North was founded following the sale of the community's share in what had been the Auckland Savings Bank. Today, this endowment enables the organization to provide grants to not-for-profit groups focusing on Increased Equity, Social Inclusion, Regenerative Environment, and Community Support in Auckland and Northland, New Zealand. As of March 20, 2019, the Foundation had NZD 1.356 billion (USD 648 million) of assets under management.
As part of Foundation's North investment approach, the organization ensures that all of its external managers consider ESG issues when investing the Foundation's assets. Furthermore, the North Foundation seeks to invest in climate change solutions, advance the efficient use of natural resources, renewable energy, clean technology and delivering societal solutions in areas such as health, education and economic wellbeing. Finally, to further its mission, the organization allocates 2% of its portfolio to impact investing.
Institutional Investor: Asset managers from Black and other minority communities are urging their peers to help “level the playing field” for businesses led by people of color.
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