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Comptroller: New York City Comptroller Brad Lander shared a letter to BlackRock, Inc. Chief Executive Officer Larry Fink to express growing concern that BlackRock’s investment actions do not align with its climate commitments, and to request immediate action by BlackRock to address these contradictions.
U.S. News: The heads of the nation's largest banks faced pointed criticism from Republicans complaining the firms are inappropriately taking liberal stances on social and cultural issues.
Cision: The National Association of Investment Companies ("NAIC"), the largest network of diverse-owned alternative investment firms, and UBS, the leading global wealth manager, announced an agreement whereby UBS will become a Platinum Sponsor of NAIC in support of the firm's Inclusive Investing offering.
U.S. News: HSBC Holdings Plc told Reuters it will stop financing the expansion of thermal coal from funds it manages actively with immediate effect, marking an acceleration of a broader commitment it made last year.
Whyy: Eight climate activists were arrested at the Malvern headquarters of Vanguard, one of the largest mutual fund investment firms. Members of the Earth Quaker Action Team (EQAT) and Extinction Rebellion Philly say Vanguard should be using more of its economic muscle to actively disinvest in companies contributing to global warming, including Big Oil producers like Exxon and Chevron.
Institutional Investor: Paul Atkins, former SEC Commissioner, is not a fan of the recent moves by Republican-led states to blacklist asset managers because they consider environmental, social, and governance factors when investing.
Yahoo Finance: Yahoo Finance reporter Jen Schonberger details SEC Chair Gary Gensler's defense of climate disclosure and cryptocurrency regulation proposals.
Wealth Management: Devon Drew, founder of DFD Partners, has spent the last 16 years of his career as a wholesaler at various asset management firms, including Vanguard, American Century Investments, Alger and J.P. Morgan Chase. And in those 16 years, he referred some 30 to 40 job candidates and managers from traditionally underrepresented backgrounds—Black and Hispanic among them—to those organizations.
CNBC: The Federal Reserve’s new banking regulator outlined a broad agenda in a speech Wednesday that pushed for action on stablecoins, climate change preparations and both the safety and fairness of the finance industry.
BNN Bloomberg: A new ESG product that JPMorgan Chase & Co. is about to start offering clients shows how rapidly perceptions are changing about the investment strategy.
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