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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.
Responsible Investor: Complaint centres on UBS’ exposure to surveillance firm Hikvision. [Full article available to Responsible Investor subscribers.]
Reuters: Aviva Investors said on Monday it could ditch its stock and bond holdings in 30 of the world’s biggest corporate emitters of carbon if their boards failed to take sufficient action over climate change.
IPE: Major Dutch pension investor APG has sold its stake in South Korean utility KEPCO because the majority government-owned company is continuing to pursue new coal-fired power plants.
IPE: The Pensionsfonds of the German state of North Rhine-Westphalia (NRW) has fallen under criticism for adopting contradicting policies for its sustainable investments.
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