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IPE: The Net Zero Asset Owner Alliance has gained two new members and kicked off its campaign to help achieve the Paris Agreement goals by driving change via engagement with companies. Launched in September, the now 18*-strong group of pension funds and insurers today announced that it had gained new members in the form of the Church of England, with its three national investing bodies, and Italian insurance group Generali.
Institutional Asset Manager: The Eurozone is outperforming North America when it comes to ESG investing, although passive and active ESG investors on both sides of the pond have seen a positive impact on portfolio performance since 2014.
The Guardian: Vanguard, the world’s second largest asset manager, has refused to sign up to a group of major investors demanding that polluters respond to the climate crisis, despite its rival BlackRock relenting to pressure to do so.
Financial Times: The world’s biggest investors are coming under intense pressure over the role they play in climate change, as the focus on tackling global warming moves beyond oil, gas and mining to the companies that finance fossil fuel producers. [Full article available to Financial Times subscribers.]
The Asset: While environmental, social, and governance (ESG) integration has been moving rapidly in the public market, more investors are beginning to realize that the private equity is perhaps better suited for ESG integration when compared to public market asset classes.
Financial Times: BlackRock is stepping up its efforts to pressure corporate boards on climate change by joining an influential investor group, after the world’s largest fund manager was accused of failing to match rhetoric with action. [Full article available to Financial Times subscribers.]
Institutional Investor: In September, 12 asset allocators and managers announced that they had signed on to a new stewardship code that committed them to transitioning their investment portfolios to net-zero greenhouse gas emissions by 2050. Signatories included PensionDanmark, Caisse de dépôt et placement du Québec, and Allianz, among others.
Citywire Selector: Fund houses’ road to ESG integration and emphasis has been a long and winding one, and it will continue to present challenges that companies must acknowledge and adjust accordingly to.
Top 1000 Funds: Most institutional investors have long-dated obligations that extend decades into the future. Consistent with their long time-horizon and the need to deliver inflation-beating returns, such investors typically allocate the majority of their capital to public and private equity, real estate and infrastructure assets. Increasingly, such allocations are managed with environmental, social and governance (ESG) concerns to the fore.
Institutional Investor: Activist hedge funds are successfully pressing companies to reduce toxic chemical emissions and produce bigger stock returns as a result, according to research from business schools in the U.S. and China.
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