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Financial Stability Board: The Financial Stability Board (FSB) welcomed the publication today of the 2019 Status Report by the industry-led Task Force on Climate-related Financial Disclosures (TCFD). The Status Report provides an overview of the extent to which companies in their 2018 reports included information aligned with the core TCFD recommendations published in June 2017.
Top 1000 Funds: While the onus is primarily on company supply chains, banks, asset managers and financial services also have big roles to play, according to James Cockayne, director at the Centre for Policy Research at United Nations University.
Institutional Asset Manager: IFC, an anchor investor, and HSBC intend to commit up to USD100 million and up to USD75 million respectively to the fund. IFC is a member of the World Bank Group and a leader in catalysing private sector participation in sustainable financing. Since 2010, IFC has issued 143 green bonds in 16 currencies, totalling USD9 billion.
Expert Investor: In the whitepaper ‘The Evolving Approaches to Regulating ESG Investing’, Morningstar said in the US, where climate change is a “contested concept”, ESG investment factors must be justified by explaining “why,” while in Europe they must explain “why not”.
IPE: Exxon shareholders staged a significant rebellion yesterday at the company’s annual general meeting registering 40.8% support for a proposal to separate the positions of chair and CEO.
CNBC: A 2018 report found that 35% of REIT properties have geographic exposure to climate hazards, including inland flooding, typhoons or hurricanes, and coastal flooding and elevated sea levels. The research evaluated 73,500 properties owned by 321 REITs.
Common Dreams: BlackRock CEO Larry Fink faced criticism from community leaders, researchers, and legal experts at the company’s annual general meeting (AGM). During the meeting speakers from the Amazon and the U.S. called out Fink for the fact that his rhetoric on climate change does not match BlackRock’s actions, while others from India, the Philippines, and the U.S. were denied entry into the meeting.
Funds Europe: The term ‘ESG’ can be confusing for investors. There are a number of ways to define what constitutes ESG investing and there are different ways to integrate it. This means investors today have an increasing number of products with varying approaches to choose from.
Institutional Investor: The vehicle will invest in companies developing solutions for environmental and social problems, while betting against the stocks of businesses seen as damaging to the world.
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