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BNN Bloomberg: Most of the world’s largest banks and asset managers are failing to set concrete climate targets for 2030, raising concern that global finance is kicking the can down the road when it comes to greening the industry.
BNN Bloomberg: Fewer than half of 150 major financial institutions have restricted their business with the oil-and-gas sector, even though many of them have made high-profile pledges to reduce their contribution to climate change, according to new research by the Paris-based nonprofit Reclaim Finance.
BNN Bloomberg: For years now, managers of big funds touting their supposed focus on the environment, social issues and corporate governance have been faulted for holding shares of fossil-fuel purveyors (including Exxon Mobil Corp. and Chevron Corp.), weapons manufacturers (like Raytheon Technologies Corp.) and mining companies (such as Newmont Corp.).
Investment Week: New research has revealed that 31 out of 36 fund managers, including Federated Hermes, Rathbones and Liontrust, do not have any investments in Russian-listed entities in their retail sustainable and ESG fund offerings, while the five that did typically had “very limited” holdings.
Institutional Investor: ESG may have gone mainstream, but many of the largest asset owners in the U.S. and Europe aren’t satisfied with their environmental, social, and governance index providers.
Yahoo News: To Steve Lydenberg, who has spent almost half a century analyzing how companies impact people and the planet, decisions by socially responsible investors about whether to back businesses in autocratic nations such as Russia aren’t so cut and dried.
Funds Europe: CFA Institute is expanding its recruitment for young women in France, Spain, and the UK, after the success of its programme in South America and Asia.
BNN Bloomberg: A coalition of more than 75 climate change-focused nonprofits want the biggest names in banking and fund management to “stop propping up Putin’s illegal war on Ukraine” by severing all financial ties with Russian energy companies.
Institutional Investor: In a recent study, index provider MSCI found that while women have started to take a fair share of board seats in companies with established diversity, equity, and inclusion programs, they are still far less present in the C-suite and the general workforce.
BNN Bloomberg: Climate-related lawsuits like those filed against energy companies Exxon Mobil Corp., Shell Plc and PG&E Corp. have dominated ESG litigation in recent years. But there are signs an increase in cases extending beyond the environmental pillar of ESG may be coming.
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