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Bloomberg: Goldman Sachs Group Inc.’s fund-management unit wants a woman on every corporate board, and the Wall Street firm said it’s now willing to vote that way across the globe.
BNN Bloomberg: If things continue like the past few weeks, it may be a little tough to prove the case for ESG investing based on stock market returns this year. So that shifts the emphasis to the question of whether ESG investors are producing real world outcomes. What kind of report card will scientists, rather than Wall Street, give them?
Bloomberg: Are we trying to protect the climate with finance, or protect finance from a changing climate? It’s a question that gets discussed surprisingly rarely considering how important climate change is becoming to finance and vice versa.
IPE: Half of 75 of the world’s largest asset managers “fail to account for their real-world impacts across their mainstream assets,” ShareAction has said on the basis of a new analysis of their approaches to responsible investment.
All About Alpha: Unicorns (privately owned start-ups with a valuation of at least $1 billion) have long been the great sought-after beasts of the VC and PE worlds. But are they good for the planet?
The Asset: There are currently several important disruptive trends in the asset management ecosystem. Some of them, such as pressure on fees, are clearly linked to the atypical current macro-economic environment with “lower for longer” interest rates. Some are linked to longer term trends unfolding methodically and paving a new path for the industry, such as demographics, technology and climate change. Because of their long-term nature, those trends are often disregarded until they become “today’s reality”.
The Wall Street Journal: Individual investors have moved billions of dollars into funds that prioritize issues like sustainability and diversity, and activists are hoping to tap into that cash.
IPE: Three of the largest pension funds in the world – the UK’s Universities Superannuation Scheme (USS), the Government Pension Investment Fund (GPIF) in Japan and the California State Teachers’ Retirement System (CalSTRS) in the US – have joined forces to push for a long-term investment approach in a bid to create value.
Financial Times: ESG ratings are becoming embedded in financial markets. A growing number of investment indices now hinge on companies’ rankings for environmental, social and governance criteria, and some banks are even offering better borrowing terms to companies with strong ESG scores. [Full article available to Financial Times' subscribers.]
Funds Europe: A “meaningful” relationship exists between ESG scores and developed markets sovereign spreads. This correlation appears to be stronger in developed markets than emerging markets, although there is a significant correlation between ESG factors and sovereign default swaps in both.
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