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CFO Dive: The Securities and Exchange Commission, led by its Division of Corporation Finance, is considering recommending a rule requiring publicly traded companies to disclose more about the diversity of members and nominees to their boards.
BNN Bloomberg: The idea that it’s a good thing to focus on diversity, equity and inclusion, or DEI, is under fire in the US. That’s certainly the case in business, where activists such as Robby Starbuck and Edward Blum have attacked US companies for their support of DEI.
Funds Europe: European asset managers face dilemmas over ESG priorities, including nuclear energy and military investments, according to the debut edition of the Funds Europe Asset Managers’ Carbon Impact Research Report.
Yahoo Finance/Reuters: BlackRock, Vanguard and State Street have been sued by Texas and 10 other Republican-led states, which said the large asset managers violated antitrust law through climate activism that reduced coal production and boosted energy prices.
ESG Today: Sustainability-focused investment manager Mirova and BNP Paribas Asset Management (BNPP AM) announced that they have acquired a majority stake in French renewable energy developer Arkolia, with an investment by the asset managers of more than €200 million aimed at funding the companies’ growth.
Funds Europe: With a focus on climate finance, the recently concluded COP29 brought together nearly several countries in Baku, Azerbaijan, and reached an agreement that will: Triple finance to developing countries, from the previous goal of $100 billion annually to $300 billion annually by 2035.
Pensions Age: UK pension funds are expected to be more resilient against climate change than their global peers, although some UK schemes could see their investment return declines exceeding 20 per cent from transition risks, analysis from Ortec Finance has revealed.
Funds Europe: The Black Lives Matter movement sparked a positive change four years ago and had a huge influence on Financial Services businesses’ commitment to race equality in the workplace.
Portfolio Adviser: Nine of Columbia Threadneedle Investments funds across global equities, UK equities and multi-asset have received approval for ‘Sustainability Focus’ labels under the Financial Conduct Authority’s Sustainability Disclosure Requirements (SDR).
ESG News: With mandatory sustainability reporting on the horizon, KPMG’s latest survey reveals a remarkable surge in global businesses integrating ESG practices into their operations. Carbon reduction targets, sustainability leadership roles, and biodiversity reporting are becoming mainstream practices among the world’s largest companies.
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