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ESG Today: EU banking supervisor The European Banking Authority (EBA) announced the launch of a consultation on new proposed guidelines, setting out requirements for banks to identify, measure, manage and monitor ESG risks, including setting plans to address risks arising from the EU’s transition to a climate-neutral economy.
The Guardian: More men than women were appointed to the boards of large financial services firms in Europe last year, even as nearly a third of companies risked falling short of the EU’s upcoming plans to impose mandatory quotas for women on corporate boards.
Funds Europe: Political hostility to US ESG investing has dampened enthusiasm among American asset managers, while European counterparts maintain support for ESG-related shareholder proposals, according to Morningstar.
ETF Stream: ETFs in Europe may find it much harder to abide by new French ESG fund labelling rules recently implemented by the government.
ESG Clarity: New findings from the WWF Sustainable Financial Regulations and Central Bank Activities (SUSREG) Tracker show that although some central banks and financial supervisors are attempting to “green” their financial regulation and supervision, significant gaps remain.
Funds Europe: European companies with validated science-based emissions reduction targets tend to have higher EU Taxonomy capital expenditure alignment, a study found.
ESG Clarity: “This is an important moment in our industry’s efforts to build greater confidence and trust among retail investors in the UK’s evolving sustainable investing market,” said James Alexander, chief executive of UKSIF, echoing the sentiments and general positivity among the investment community in the wake of the Financial Conduct Authority (FCA) launching their much-anticipated Sustainability Disclosure Requirements (SDR).
Funds Europe: Invesco, a global asset management firm, has appointed Molly Betournay as the director of ESG research. Betournay previously served as the director of social research & advocacy at Clean Yield Asset Management.
BNN Bloomberg: The green finance targets of European banks are falling well short of what is needed, according to a fresh study by ShareAction. An analysis by the UK-based nonprofit that examined the green finance claims of the 20 biggest lenders spread across the European Union, the UK, Switzerland and Norway found that “targets and disclosures aren’t fit for purpose and could lead to misleading claims.”
ESG Clarity: Sustainable and ESG fund holdings and stewardship activities in the UK are not meeting the Financial Conduct Authority’s (FCA) sustainability guiding principles, the regulator has said ahead of the publication of its Sustainability Disclosure Requirements (SDR).
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