.png?width=200&height=78&name=CH%20Diligence%20(thicker%20line-white).png "CH Diligence (thicker line-white)")
The Guardian: Large companies and financial institutions in the UK will have to come clean about their exposure to climate risks within five years under the terms of a tougher regime announced by the chancellor, Rishi Sunak. [Full article available to The Guardian subscribers.]
Finextra: Scottish Widows is to divest at least £440 million from companies that have failed to meet its environmental, social and governance (ESG) standards, and warned this figure could grow much further if companies do not take action to improve the sustainability of their business practices.
Reuters: The pay gap between men and women doing the same job in Europe narrowed only marginally this year, the European Commission said on Friday, even though a vast majority of EU citizens support eliminating that difference.
IPE: UK-based campaign group ShareAction has drafted responsible investment legislation that “raises the ambition of what is expected of fiduciary investors as key actors in the economy and society”.
Pensions & Investments: Institutional investors in Europe have been increasing manager monitoring to ensure they are getting the best environment, social and governance results. [Full article available to Pensions & Investments subscribers.]
Reuters: The British government has for the first time issued a set of standards for asset managers engaged in the multi-billion pound sustainable investment sector as it looks to bolster its green credentials ahead of the next round of global climate talks.
Institutional Asset Manager: Almost all of the largest hubs for green finance are concentrated within Western Europe, a biannual index shows, with Amsterdam, Zurich, and London continuing to lead efforts to finance a sustainable future.
Funds Europe: UK pension funds are planning to increase allocations to renewables over the next five years, according to a report.
Private Equity Wire: Almost two thirds (63 per cent) of UK private equity firms now take into account Environmental, Social and Governance (ESG) principles in their investments but some firms risk falling behind as ESG rises up investors’ agendas.
Financial Times: Legal and General Investment Management is set to warn 500 companies to do more to tackle climate change or risk being publicly named and shamed, in an escalation of a long- running environmental campaign by the UK’s largest asset manager. [Full article available to Financial Times subscribers.]
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