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Financial News: BlackRock and Amundi, two of the world’s largest investors, have scored poorly when it comes to public disclosure of their greenhouse gas emissions. This is an embarrassing result for the asset management giants, as they are piling pressure on corporations to tackle climate change risks.
Institutional Investor: While many institutions are signing on to agreements to invest more sustainably, there is a discrepancy between the number of institutions signing these agreements and the capital invested in sustainable assets.
IPE: Swedish national pension fund AP2 has put “special measures” in place to monitor the external asset managers it uses for Chinese investments, because of the high risk of human rights abuses in China. The Gothenburg-based fund disclosed the approach in its first report about its work on human rights issues.
Citywire: Active asset management is facing serious headwinds and ESG is the best thing to have happened to the industry in decades.
Institutional Investor: A study has found ESG adoption is rapidly gaining traction among sovereign investors and Central Banks. It showed nearly two thirds (60 per cent) of sovereigns now incorporate a top-down ESG policy – up from 46 per cent in 2017.
Top 1000 Funds: There has been widespread adoption and more board engagement since the launch of the Task Force on Climate-related Financial Disclosures recommendations in 2017 but more work is needed to get a uniform and comparable approach to climate change disclosure across the investment community.
IPE: Too many companies are still not reporting their greenhouse gas (GHG) emissions despite the growth of data-driven ESG investing.
Financial Times: Big-name hedge funds such as Man Group and Caxton Associates are among those hunting for reliable ways of identifying stocks with strong or improving ESG (environmental, social and governance) characteristics that are likely to beat the market more often than not. [Full article available to Financial Times subscribers.]
Newswire: In one of the boldest actions yet by the world's largest investors to decarbonize the global economy, an alliance of the world's largest pension funds and insurers – responsible for directing more than US$ 2.4 trillion in investments – has today committed to carbon-neutral investment portfolios by 2050.
The Wall Street Journal: Many companies have resisted disclosing environmental, social and governance data out of fear of being shunned by investors. These days, not disclosing that information may be even more risky.
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