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BNN Bloomberg: Elon Musk railed against ESG last year when Tesla Inc., whose stock is held by many climate-focused funds, was expelled from an S&P Global index that tracks companies on their environmental, social and governance standards.
BNN Bloomberg: A new venture capital fund targeting climate change and other “big fundamental problems” has raised $100 million, according to people familiar with the matter.
The Guardian: Private equity firms are increasingly profiting from cleaning up climate disasters in the US, while failing to better protect workers and often also investing in the fossil fuels that are causing the climate emergency, new research has found.
BNN Bloomberg: Asset managers trying to sell funds in Europe are finding it “increasingly difficult” to do so unless their products are registered as ESG, according to a study by analysts at Goldman Sachs Group Inc.
Yahoo Finance: Steven Meier, the chief investment officer for the New York City Retirement System, said a pullback on ESG efforts by major fund-management companies has little impact on the city’s pensions and their power to vote on shareholder measures seeking to change corporate policies.
US News: Vanguard said the declining support rate reflected a rising number of proposals - 359 this year, up from 290 a year ago, coupled with improvements in company disclosure that it said made many resolutions unnecessary.
ESG Clarity: KKR, a global investment firm, has hired a co-head for the firm’s global climate strategy, rounding out a refreshed leadership team focused on climate-related investments as part of KKR’s infrastructure platform.
BNN Bloomberg: The US backlash against investment strategies that incorporate environmental, social and governance issues is forcing borrowers to be more thorough when labeling bonds, a positive development for the $6 trillion ethical debt market, according to Morgan Stanley.
Investment Week: The FT reported that SEC lawyers had subpoenaed various fund managers regarding ESG disclosures. The move pointed to a potential tightening of the rules around ESG investing, or action against those fund managers found not to be following them.
ESG Clarity: Fidelity International has appointed Jenn-Hui Tan as its chief sustainability officer – a new role for the business. Tan, who was previously global head of stewardship and sustainable investing, will be responsible for the firm’s overarching sustainability approach.
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