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Institutional Asset Manager: Banks, investors and insurers need to understand their impact and dependency on nature, and start setting targets such as ‘net positive impact' to achieve international policy goals on biodiversity, finds new research by the United Nations Environment Programme (UNEP) and the Natural Capital Finance Alliance (NCFA).
Institutional Investor: Alongside Bono, Richard Branson, and eBay founder Pierre Omidyar, private equity firm TPG launched the Rise Impact fund in 2016. The offering committed “to deliver positive and sustainable impact” while creating a “top-performing fund.” At the time, Bono remarked that “capitalism is going up on trial, and I think that it’s clear that putting profit before people is a nonsustainable business model.”
Bloomberg: Matt Patsky confronts corporations on everything from their carbon footprints to the diversity of their workforces. But now, in the wake of racial unrest sweeping America, Patsky is having a reckoning of his own.
Institutional Asset Manager: An informal stakeholder group of investors, finance industry groups, and NGOs has set out ways to improve the reporting by businesses of environmental, social and governance (ESG) information, saying the world is “at a crossroads” for building a sustainable recovery from the coronavirus pandemic.
Financial Times: What can asset managers do to help during a pandemic? The answer is quite a lot.
The Economist: In the mayfair office of Chris Hohn, the boss of TCI, a hedge fund, an enormous photograph of a melting iceberg hangs on one wall. Robert Gibbins, the founder of Autonomy Capital, another London hedge fund, says his desk is adorned with the deformed remains of a car bumper, melted by an Australian wildfire. [Full article available to The Economist subscribers]
Financial Post: Seven major European investment firms told Reuters they will divest from beef producers, grains traders and even government bonds in Brazil if they do not see progress in resolving the surging destruction of the Amazon rainforest.
Financial Times: More than half of the world’s largest pension schemes have made no allocation to climate-related passive funds in spite of mounting pressure on institutional investors to step up the fight against global warming. [Full article available to Financial Times subscribers]
Network for Business Sustainability: No company is safe from hedge fund activism. In 2019, activist hedge funds targeted 839 companies in 19 countries. Activist hedge funds control more than $146 billion in assets, part of the more than $3 trillion hedge fund market.
S&P Global: Prolonged working from home could reinforce exclusive behaviors and biases and undermine inclusive workplace cultures, which experts warn could have long-term implications for organizations that do not pay attention to the risks.
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