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U.S. News: BlackRock Inc, the world's No.1 asset manager, reported a sharp drop in its support for environmental and social-related shareholder resolutions, saying many were too prescriptive, while its backing for directors and executive pay held steady.
BNN Bloomberg: The first was billed as an “impact” investment, the second as an “ESG” investment and the third as “sustainable” investment. In fact, those three BlackRock Inc. mutual funds started out as the same fund—one that was marketed and re-marketed under different names at different times as Wall Street sold the idea of investing with a social purpose.
Private Equity Wire: The fund aims to invest in software, hardware, renewable energy, energy storage, smart buildings, and carbon sequestration technologies to decarbonise the $10.5 trillion real estate industry.
BNN Bloomberg: A deluge of do-good ETFs once flooded US exchanges and drew in billions. But as investors contend with fears of a recession, the trend is reversing and more of these funds are closing up.
BNN Bloomberg: A text sent by BlackRock Inc. to financial advisers has opened up a conversation about the relative scarcity of value-based investing among managers of ESG funds.
BNN Bloomberg: By November, around the time US midterm elections are held, investors will likely learn the fate of the Securities and Exchange Commission’s plan for more comprehensive corporate climate disclosures.
Kellogg Insight: Jeff Ubben co-founded the hedge fund ValueAct Capital in 2000. Twenty years later, he left to form a new fund, Inclusive Capital Partners (“In-Cap”), focused on impact investing. Throughout his career, he has favored an active approach to investing.
ESG Today: Investment giant BlackRock has made a series of appointments to its BlackRock Sustainable Investing (BSI) team, according to an internal memo seen by ESG Today, including the hiring of Lombard Odier’s Head of Sustainable Investment Research & Strategy as Deputy Head of BSI.
CNBC: More companies are disclosing their internal data on racial pay equity. The bad news: even more companies aren’t ready to share, and that suggests progress at reaching parity in pay between white and non-white employees remains slow across the corporate landscape.
U.S. News: Private equity firm KKR & Co Inc is preparing to launch its first two credit funds dedicated to investing based on environmental, social and corporate governance (ESG) principles later this year, according to an internal memo seen by Reuters.
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