Institutional Asset Manager: A GBP3.2 trillion investor coalition against modern slavery, including Aberdeen Standard Investments, Church of England Pensions Board, Legal & General and Rathbones, has put pressure on 22 laggard companies on the FTSE 350 to comply with the UK’s modern slavery laws.
Reuters: A London judge on Thursday rejected an attempt by the lawyer of Crispin Odey, one of Britain’s most high-profile hedge fund managers, to throw out an historic indecent assault case early.
Pensions & Investments: Scottish Widows' Master Trust, a U.K. defined contribution multiemployer plan, selected four managers to manage the assets of four newly launched ESG investment options, a spokeswoman confirmed. [Full article available to Pensions & Investments subscribers.]
IPE: A new centre is being launched in the UK with the aim of arming financial institutions with the data and analytics they need to contribute to the shift to environmentally sustainable economic activity. Asset owners have been keen to support the project.
City A.M.: Lawyers for an environmental charity have written to HSBC to remind it of its legal duties with regard to climate risk, as the banks mulls supporting a climate change resolution ahead of its next annual general meeting.
BNN Bloomberg: The entire wealth and asset management business of Nordea Bank Abp - which currently oversees about $425 billion - may exclude all investments that aren’t deemed sustainable in as little as half a decade.
Funds Europe: Just over half of fund flows in Europe last year went into ESG products – with investors showing a strong preference for actively managed ESG funds.
IPE: The manager of Norway’s NOK11trn (€1.1trn) oil fund has backed ideas from the European Commission on sustainable corporate governance, but warned that setting hard and fast rules about the specific expertise boards should have could cause problems.
IPE: Asset owners should pay close attention to whether asset managers have a clear policy setting out actions they may take if their engagement with companies has not proved effective, according to UK charity investor Friends Provident Foundation.
Financial Post: Andurand Capital Management is among hedge funds betting the price of carbon can only go up.