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ESG Today: Australian energy transition platform Symphony Infrastructure Partners announced that it has raised A$488 million (USD$329 million) in a Series A financing round including A$300 million (USD$202 million) from lead investor Blackstone, with proceeds aimed at accelerating the company’s growth and completing a series of five pending acquisitions.
BNN Bloomberg: The Australian government is planning to introduce ESG labeling requirements, as it seeks to fight greenwashing and steer more capital into credible sustainable activities.
ESG Today: A federal court in Australia ruled that superannuation fund Active Super trustee LGSS Pty Limited contravened the law by making misleading ESG investing representations to its members, by continuing to invest in securities in areas that it had claimed to eliminate for environmental or social reasons.
Australian Securities & Investments Commission (ASIC): Northern Trust has paid $29,820 to comply with two infringement notices issued by ASIC regarding concerns about alleged false and misleading statements about the application of a Carbon Emissions Exclusion Screen.
Money Management: The Morningstar ESG Commitment Level Landscape report qualitatively evaluated 108 asset managers across the globe.
ASIC: ASIC has lodged civil penalty proceedings in the Federal Court against Vanguard Investments Australia, alleging misleading conduct in relation to claims about certain environmental, social, and governance (ESG) exclusionary screens applied to investments in a Vanguard fund.
Australian Securities & Investments Commission: Greenwashing erodes investor confidence in the market for sustainability-related financial products and corporate strategies.
Financial Standard: Aware Super and HESTA are among those to back Palisade Investment Partners' newly established renewable energy platform, combining five of its operational renewable energy assets.
Financial Standard: Looking at the statement provided to Longo, the committee said: " ... the investigation found that many of the instances of [Chester's] alleged conduct could be wholly or partially substantiated as to the fact that specific things occurred, although in many cases recollections differed about specific conduct and substance and significance."
Mondaq: In 2023, we expect environmental, social and governance (ESG) concerns to be a driving force in M&A and divestment activity, particularly as pressure mounts for carbon-intensive oil companies to rationalise their portfolios.
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