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ESG Today: Manulife Financial’s global wealth and asset management business Manulife Investment Management announced that it has raised $480 million in commitments at the final close of its Manulife Forest Climate Fund LP, focused on investing in sustainably managed forests, with carbon as the primary value driver.
ESG Dive: Attorneys general from 10 states, led by Texas AG Ken Paxton, sent letters to six major U.S. financial institutions, warning that some of their diversity, equity and inclusion and environmental, social and governance commitments could lead to enforcement if found to violate state or federal law.
ESG Dive: The White House published an executive order Tuesday that directs the heads of agencies, in cooperation with the attorney general, to submit a report by May 21 with recommendations to “encourage the private sector to end illegal discrimination and preferences, including DEI.”
ESG Today: Most of Canada’s major banks have elected to exit the Net-Zero Banking Alliance (NZBA), continuing a largely North America-focused exodus from the UN-backed coalition of banks dedicated to advancing global net zero goals through their financing activities, kicked off last month by their Wall Street peers.
ESG Dive: BlackRock and Tennessee Attorney General Jonathan Skrmetti reached a settlement last week on the state’s lawsuit alleging the investment management firm was misleading consumers about its ESG strategies.
BNN Bloomberg: Tennessee said it settled a lawsuit with BlackRock Inc. after accusing the world’s largest money manager of allegedly breaching consumer protection laws by making “misleading” statements about its ESG investment strategy.
ESG News: Apollo Global Management and Standard Chartered PLC have entered into a strategic partnership to accelerate financing for infrastructure and renewable energy projects worldwide.
Funds Europe: Evergreen funds are a transformative development in the cross-border funds industry, allowing a broader range of investors to access private markets – which have generally outperformed traditional public markets over the last three decades.
ESG Dive: Barclays’ Group Head of Sustainability Laura Barlow is stepping down from her role, a spokesperson for the bank confirmed to ESG Dive. Barlow will remain with the bank in the capacity of a senior adviser.
ESG Today: The Net Zero Asset Managers (NZAM) initiative, a major multi-trillion dollar group of investment managers committed to supporting the goal of net zero greenhouse gas emissions by 2050, announced that it will suspend its primary activities, as it moves to adapt to a changing political and regulatory environment.
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