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IPE: Avoiding reputational risk drives pension funds to adopt environmental, social and corporate governance (ESG) “principles” more so than it does other types of institutional investors. More than one-third (35%) of pension fund respondents included reputational risk as a top three factor driving ESG investing at their institution, compared with 21% of endowment and foundation respondents, and 6% of sovereign wealth funds.
GreenBiz: Last week, Apple issued $2.2 billion in green bonds, raising its total so far to $4.7 billion — and further cementing its status as the top corporate green bond issuer in the United States. But growth in green bonds actually has slowed after a blistering five years, seemingly ceding some ground to newer sustainability-linked loans with looser requirements.
Markets Media: As environmental, social, and corporate governance concerns continue to grow, institutional investors and asset managers have found obtaining the necessary financially material disclosures from companies a growing challenge and have started to push towards mandated disclosures.
Corporate Adviser: Regulators have been urged to launch a review of the ethical and sustainable fund sector, after a leading wealth manager accused the industry of misleading investors by marketing socially responsible funds that have significant exposures to defence, tobacco and gambling stocks.
GARP: From boutique money managers to French behemoth BNP Paribas SA, financial firms are setting up sustainability-focused mutual funds that mimic hedge-fund tactics. In an unusual move, they’re not only buying stakes in the companies favored by green investors, but also shorting firms that are failing to make the shift to sustainability.
ShareAction: Climate change is one of the highest priorities facing investors. In this report, we’ve examined how 57 of the world’s largest asset managers voted on 65 shareholder resolutions linked to climate change. While there is encouraging improvement when it comes to voting for climate change resolutions, many still shy away from holding companies account. Investors voting power is the most powerful tool they have, it is vital that all investors use it.
IPE: Institutional investors and asset managers are moving away from the shareholder value maximisation philosophy as famously espoused by Nobel economics laureate Milton Friedman in 1970. Instead, they are moving towards the recognition that corporations have duties and responsibilities towards all stakeholders affected by their businesses.
The Asset: Environmental, social, and governance (ESG) investing is one of the most exciting emerging interfaces between hedge funds and machine learning. Hedge funds are finding new ways to use machine learning and ultimately artificial intelligence (AI) in the investment process to further capitalize on the ever-growing quantities of data.
Top 1000 Funds: In September 2015, the United Nations General Assembly adopted 17 Sustainable Development Goals with underlying targets to be met by 2030. Target 8.7 commits governments to taking immediate and effective measures to eradicate forced labour, modern slavery and human trafficking and prohibit and eliminate all forms of child labour. I was in New York for the most recent United Nations General Assembly and it was clear that accelerated action is urgently needed to meet our shared commitments.
IPE: The proportion of institutional investors who do not believe in sustainable investment has fallen by almost half since 2017, but performance concerns are still a challenge.
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