BNN Bloomberg: BlackRock Inc. said it’s instituting new measures to address diversity and inclusion issues after two former employees leveled discrimination complaints against the company.
BNN Bloomberg: A former employee of Pacific Investment Management Co. claimed she was sexually harassed by men at the firm and demoted after she rejected advances by her boss, the former chairman of Pimco funds, Brent Harris.
Financial Post: Uncertainty about the impact climate change may have on the financial system should not prevent financial firms and their supervisors from moving now to prepare for the shocks to come, a key Federal Reserve policymaker said on Thursday.
BNN Bloomberg: BNP Paribas will have to defend itself against several of the claims in a suit accusing the bank of facilitating human rights abuses in the Sudan after a New York federal judge rejected parts of its request to dismiss the suit.
Bloomberg: Goldman Sachs Group Inc. sold bonds aimed at financing environmentally and socially conscious projects for the first time, joining other Wall Street banks tapping the fast-growing market. [Full article available to Bloomberg subscribers.]
BNN Bloomberg: There’s now an overwhelming consensus behind zeroing-out emissions to slow down global warming. Nine of the 10 largest economies will soon align behind this goal, once President Joe Biden resets U.S. climate policy. The single-largest shareholder on the planet, BlackRock Inc., has likewise put its $8.7 trillion heft behind a powerful message to chief executives everywhere: The decades ahead will be defined by minimizing emissions, requiring an overhaul to everyone’s business models.
Market Watch: Advocates say the giant money manager could be more aggressive.
BNN Bloomberg: Debt that rewards borrowers for hitting environmental or social targets is the next frontier for sustainable finance, according to JPMorgan Chase & Co, which predicts an issuance surge this year.
BNN Bloomberg: Blackstone Group Inc. plans to make diversity the centerpiece of an expanded student entrepreneurship initiative.
Wall Street Journal: Current and former employees of Pacific Investment Management Co. wrote to the investment firm’s senior executives alleging a pattern of abusive and discriminatory behavior toward women and urging them to take steps to fix gaps in pay and promotions. [Full article available to Wall Street Journal subscribers.]