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Australian Securities and Investments Commission: The Federal Court today ordered Vanguard Investments Australia to pay a $12.9 million penalty for making misleading claims about environmental, social and governance (ESG) exclusionary screens.
ESG Today: TPG Rise Climate, the climate investing strategy of TPG’s global impact investing platform, TPG Rise, announced that it has raised $1.25 billion in initial capital commitments for its new Global South Initiative (GSI) strategy, including a $500 million commitment from UAE-backed climate investment platform ALTÉRRA.
Institutional Investor: Asset owners and managers have faced political backlash and lawsuits for their use of environmental, social and governance factors when investing (especially BlackRock).
FinTech Global: The debate surrounding the acronym of ESG has evolved from divisive to disappointing within the financial services sector. According to ACA Group, however, the consensus remains that ESG data is crucial for gauging the sustainability, ethical standards, and long-term viability of companies.
Funds Europe: 17% of Article 9 funds perform worse in impact than the average Article 8 fund, with investments in sectors like alcohol, luxury cars and airlines, according to “the first” open database on science-based impact of funds” launched by The Upright Project, a Finland-based impact data provider.
MSN: The three largest US asset managers cut their support for so-called ESG proposals by shareholders during the last voting season amid Republican pushback against the controversial investing policy, according to a report.
ESG Dive: A coalition of 534 financial institutions that collectively manage $29 trillion in assets is urging global governments to “take robust action” to address the climate crisis at the COP29 climate forum and enact policies to unlock the private capital needed to support a green transition.
BNN Bloomberg: Datamaran Ltd., a software company that specializes in ESG, said it received $33 million in Series C financing from investment funds managed by Morgan Stanley.
ESG Today: The world’s largest companies are increasingly setting significant climate-related targets, according to a new study released by carbon markets-focused solutions provider Climate Impact Partners.
ESG News: A new partnership between BlackRock, Global Infrastructure Partners (GIP), Microsoft, and MGX aims to revolutionize AI infrastructure with a potential $100 billion investment.
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