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Mint: Financial institutions are underestimating the most significant climate-related risks –with a potential financial impact of $1 trillion. Out of the 26 biggest banks in the world, none have disclosed the total share of finance directed towards climate solutions in their most recent year of reporting, according to a study of Transition Pathway Initiative Global Climate Transition Centre (TPI Centre).
ETF Stream: Speaking at the Association of the Luxembourg Fund Industry (ALFI) London conference last week, Mhairi Jackson, policy lead in asset management at the FCA, said the regulator was having to “push back” against some asset managers' attempts to label themselves as ESG, Reuters reported.
GreenBiz: Shortly after Vince Digneo joined Palo Alto Networks as head of sustainability, climate and clean energy in July 2021, he launched a review of its environmental, social and corporate governance (ESG) disclosure practices.
Yahoo Finance: Asset managers are sitting on roughly $6 trillion of funds registered as Article 8, which is a European Union classification requiring that environmental, social and good governance goals be “promoted.”
ESG Clarity: Financial advisers have not been explicitly included in the design of the Financial Conduct Authority’s (FCA) proposed labelling scheme to crack down on greenwashing, the Sustainability Disclosure Requirements (SDR), which, after several delays, is due to be in place before 2024.
BNN Bloomberg: The escalating tensions between Israel and Hamas are prompting global business chiefs to think more about security issues, according to Citigroup Inc. Chief Executive Officer Jane Fraser.
Institutional Investor: A large portion of 152 global corporate and public pension funds recently surveyed by Apex Partners — 58 percent — said they expect allocations to private equity that accounts for environmental, social, and governance factors to rise over the next three years.
ESG Clarity: Fidelity International has launched two active fixed income ETFs with a focus on sustainable investing, classified as Article 9 under the Sustainable Finance Disclosure Regulation.
Cerulli Associates: Asset managers and institutional investors generally remain focused on environmental, social, and governance (ESG) initiatives, even as political efforts to reverse progress are underway.
ESG Clarity: Green bonds are propelling the worldwide ESG debt market, according to analysis by Bloomberg Intelligence, with issuance up 8% so far in 2023 on last year.
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