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Financial News: Fund managers are paying more attention to social considerations, such as labour rights and diversity, than they were prior to the outbreak of coronavirus.
Financial Times: In recent years, some investors have felt so irritated by the pious tone of the environment, social and governance sector they have joked that the ESG acronym should stand for “eye-roll, sneer and groan”. [Full article available to Financial Times subscribers.]
World Bank Blog: The COVID-19 pandemic has changed the way we live and work, throwing so much about the future into doubt. Amid the crisis, governments, financial institutions and investors are focused on the immediate challenges of saving lives and businesses and minimizing long-term market disruption.
Institutional Investor: Before asset managers can successfully invest in companies according to environmental, social and governance principles, they need to get their own houses in order. But such a cultural reset takes a big investment in time and money.
Citywire Selector: The future may well be green for passives. With ETF giant BlackRock nailing its colours to the ESG mast, the sheer volume of assets allocated to ESG via passive strategies is likely to skyrocket in the not-too-distant future.
Wall Street Journal: When Charles Scharf took over at Wells Fargo & Co. last year, tasked with moving the bank past a fake-accounts scandal, he brought in a cleanup crew of former colleagues from his long career on Wall Street.
Los Angeles Times: Just as 2020 seemed like it might be a breakthrough year for corporations looking to combat climate change, the novel coronavirus emerged.
Pensions & Investments: Combining environmental, social and governance assessments for companies into an aggregated score can present a trade-off in performance.
Institutional Asset Manager: The coronavirus crisis has triggered some ESG rebalancing in the sustainable fixed income space in favour of social bonds, according to NN Investment Partners. In the past, green bonds have dominated, but the firm says that a heightened focus on the social implications of the pandemic has shifted the emphasis from E to S in the last couple of months, and led to an increase in bonds that raise funds for social projects.
Financial Times: Coronavirus and its economic consequences threaten to wipe out progress on gender equality at work as women are at greater risk of losing their job, more likely to be exposed to infection and take on more of the burden of unpaid care, the International Labour Organization has warned. [Full article available to Financial Times subscribers.]
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