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Financial Times: Asia is the dynamo of today’s global economy. But it lags behind the west in one critically-important regard: commitment to environmentally and socially sustainable investment. [Full article available to Financial Times subscribers.]
Top 1000 Funds: In the Chinese language, the word “crisis” is composed of two characters — 危机 (weiji): where危 (wei) means crisis or danger, 机(ji) means opportunity.
Bloomberg: Singapore plans to include a broader range of climate change-related risks in a future stress test of its financial industry, a government minister said.
Bloomberg: Japan’s Government Pension Investment Fund has been a trailblazer in promoting the need to incorporate environmental, social and governance issues into the day-to-day job of portfolio construction. With $1.6 trillion under management, it has a lot of firepower in the investing world. So its recent stand against short selling, judging the practice to be incompatible with its role as the long-term custodian of multigenerational assets, is worth paying attention to.
Bloomberg: Singapore’s state-owned Temasek Holdings Pte and Swedish private equity firm EQT AB have formed a $500 million venture that will invest in solar and wind power generators across India.
Asian Investor: Ping An Group, parent company of China’s second-largest life insurer by investable assets, is playing a bigger role in driving environmental, social and governance (ESG) investing, which is gradually gaining momentum in the country.
Business & Human Rights Resource Centre: The ethical investment trend that has swept the developed world is making its mark in China, where authorities are urging companies to say more about their environmental, social and governance (ESG) risks.
Eco Business: The investment firm, which aims to halve the greenhouse gas emissions of its portfolio by 2030, will also report its consumption of electricity, water, paper and air miles from this financial year.
Nikkei Asian Review: U.S. private equity firm Neuberger Berman will create a fund that advocates for governance and sustainability reforms at small and midsized Japanese companies. Neuberger chiefly will seek enterprises valued at less than 500 billion yen ($4.57 billion). The fund will select 20 to 30 targets pending bottom-up due diligence. The new investment vehicle aims to draw capital from global pension funds.
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.
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