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Financial Times: Financial analysts from minority racial groups enjoy less access to corporate management than their white peers, according to a new study that analyses transcripts from tens of thousands of company conference calls. [Full article available to Financial Times subscribers]
Forbes: Acknowledged as an old boys’ club, the private equity industry is at risk of becoming further underrepresented by women due to issues around the gender pay gap, a lack of diversity and a resistance to change the macho culture that persists in this sector.
Bloomberg: Guidelines released Tuesday are set to encourage more borrowers to issue bonds tied to general environmental targets, rather than specific projects, following massive growth of similar deals in the loan market.
ThinkAdvisor: Critics of environmental, social and governance fund ratings often cite numerous reasons as to why the ratings lack validity. While the ratings aren’t perfect, we explore some of the reasons why we believe they are worthwhile and how they may continue to improve.
Financial Times: Liberal-leaning investors and environmentalists have scored a record number of wins at US companies’ annual general meetings this year on issues ranging from sexual harassment policies to climate change. [Full article available to Financial Times subscribers]
Institutional Investor: Investors should explore the “dark side” of responsible investing, going beyond the common tactic of simply avoiding stocks for environmental, social or governance reasons.
Bloomberg: Shareholder and environmental activists have written to investors of Africa’s biggest bank by assets, Standard Bank Group Ltd., asking that they vote against the re-election of seven non-executive directors with ties to fossil-fuel companies.
Financial Times: Climate change poses a bigger threat to financial stability than the coronavirus pandemic and the rules on bank lending to fossil fuel groups must be tightened to address it, a new report has warned. [Full article available to Financial Times subscribers]
Established in 1917, Alecta is the largest occupational pension provider in Sweden with over 2.4 million members. As of December 31 2019, Alecta had SEK 954 billion ($103 billion) of assets under management.
As a long-term responsible investor, Alecta considers sustainability along with financial data – including negative screening criteria on companies active in controversial weapons. Furthermore, as part of its involvement with the Net-Zero Asset Owner Alliance, Alecta seeks to fully decarbonize its portfolios. To do so, the pension provider engages with portfolio companies on Climate risk individually and collaboratively through Climate Action 100+, and is heavily invested in green bonds (SEK 40 billion).
Bloomberg: Global investors managing 11 trillion euros ($12 trillion) are demanding a rapid green recovery in Europe to avoid worsening financial, health and social problems.
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