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Top1000 Funds: The Principles for Responsible Investment (PRI) will reduce signatories’ responsibilities in their annual mandatory reporting, as the UN-backed body looks to stay relevant amid a surge of new responsible investment codes and standards.
ESG News: New York City Comptroller Brad Lander has urged the trustees of the city’s three major pension systems to sever ties with BlackRock, Fidelity, and PanAgora after concluding the firms’ climate stewardship plans fall short of the systems’ net-zero requirements.
Wealth Professional: Canada’s responsible investing sector continues to evolve even as growth expectations ease and the pressure of global anti-ESG backlash rises.
ESG Dive: Lander, whose term as comptroller ends at the end of the calendar year, said all 49 of the asset managers for the city’s pension plans submitted their decarbonization plans to measure their alignment with the city’s Net Zero Implementation Plan.
Financial Post: Royal Bank of Canada denies claims that it fostered a “boys’ club” environment at its United States capital-markets business, disputing allegations that the firm engaged in sex-based discrimination against female bankers and offered unequal pay and promotions to women.
ESG Today: Florida Attorney General James Uthmeier announced the filing of a new legal action against proxy advisory firms Glass Lewis and Institutional Shareholder Services (ISS), claiming that the firms violated consumer protection and antitrust laws by jointly pushing an “ESG agenda” through their activities.
MSN/Reuters: A British real estate manager overseeing 26 billion euros ($29.93 billion) in assets and concerned about flood, fire and other climate-related risks to its properties sought help from Climate X, a data analytics firm based in London.
ESG Today: Decarbonization-focused investment firm Galvanize announced that its co-founder, hedge fund billionaire and former presidential candidate Tom Steyer, has taken a formal leave of absence from his role as Co-Chair.
ESG Dive: The change itself does not come with any inherent restrictions on client activities or transactions in the region, but a JPMorgan spokesperson told ESG Dive that each activity and transaction will be considered “on a case-by-case basis, in line with [its] risk appetite and commercial interests.”
Yahoo Finance/Reuters: The top U.S. financial regulator changed the grounds on which companies may seek permission to skip votes on shareholder resolutions, a move seen as making it more difficult for activists to force votes on contentious topics such as climate change or workforce diversity.
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