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The Asset: The debate on whether environmental, social, and governance (ESG) investing is part of the fiduciary duty of an asset manager remains unsettled. But major asset owners and leading asset managers are coming out strongly in favor of ESG being part of an asset manager’s fiduciary duty, a development that may decide the issue sooner rather than later.
Live Mint: Every year, Harvard Business Review (HBR) publishes a list of the world’s 100 top-performing CEOs. Amazon’s Jeff Bezos topped the list in 2014 and has been on it every year—until now.
The Asset: While European institutions receive many plaudits for proactive initiatives in greening their economies, Asia will eventually be the home of the green financing revolution. The mature economies in Asia with their infrastructure well established are now weaning their populaces away from traditional sources of power such as coal, petroleum, natural gas, hydro, and nuclear power systems.
Nikkei Asian Review: Japan's Government Pension Investment Fund will begin allocating substantial amounts of money to bonds with an environmental purpose as early as the fiscal year beginning next April.
Institutional Asset Manager: The Asian Infrastructure Investment Bank (AIIB) and European asset manager Amundi, have announced a USD500-million Asia Climate Bond Portfolio which aims to accelerate climate action in the Bank’s members and address the underdevelopment of the climate bond market.
Top 1000 Funds: Standards and expectations have moved quickly on ESG and sustainability reporting over the past four years, and the Hong Kong Exchange (HKEx) through its “Consultation Paper on Review of the ESG Reporting Guide and Related Listing Rules” has made an attempt to participate in this evolutionary process. This paper is an update to the exchange’s previous 2015 ESG guide, and while this step seems outwardly positive, we don’t believe it warrants an epaulette on HKEx’s shoulders?
Eco-Business: Banks in the 10 countries comprising the Association of Southeast Asian Nations (Asean) are not responding fast enough to threats posed by climate catastrophe and environmental degradation, risking financial instability and social unrest in the region, a new assessment by non-governmental organisation (NGO) World Wildlife Fund (WWF) has found.
Fund Selector Asia: In Western markets, ESG investing is largely spearheaded by institutional investors. But in some Asian markets the driving force has been the regulator, according to Robert Mumford, Hong Kong-based portfolio manager for emerging markets at Gam Investments.
Thailand4: In collaboration with 15 commercial banks, the Bank of Thailand will establish guidelines for responsible lending as part of their sustainable business operation. Thai banks are encouraged to lend based on environmental, social and governance (ESG) criteria which will serve as protection against adverse consequences, and thus ease potential problems.
The Phnom Penh Post: Financial institutions in Cambodia are joining in efforts to strengthen sustainable and responsible finance, according to Oxfam in Cambodia. The goal is to achieve the UN Sustainable Development Goals (SDGs) and inclusive economic development.
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