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BNN Bloomberg: After more than three years of inflows, investors are now pulling cash out of US equity exchange-traded funds with higher environmental, social and governance standards. May saw $2 billion of outflows from ESG equity funds, according to data from Bloomberg Intelligence -- the biggest monthly cash pullback ever.
Financial Post: Regulators in Canada and the United States are pushing ESG funds to disclose more information to weed out “greenwashing” and other misleading practices, but a lack of standardized terms and metrics mean those buying the funds must still be wary, investor advocates say.
Private Equity Wire: Churchill Asset Management, an investment-specialist of Nuveen which provides customised financing solutions to private equity firms and their portfolio companies, has appointed Mickey Weatherston as principal, head of sustainability and ESG Integration.
BNN Bloomberg: New proposals from the US Securities and Exchange Commission to crack down on money managers using misleading or deceptive fund names threaten to impact investing strategies of all stripes -- not just those focused on ESG issues.
Investment Executive: Federal financial regulators issued new guidance to address climate-related financial risks, including mandatory disclosure requirements. The Office of the Superintendent of Financial Institutions (OSFI) issued a new draft guideline Thursday that sets expectations for federally regulated financial institutions.
Quartz: Following the Parkland, Florida, school shooting that left 17 people dead, focus turned to the fact that BlackRock, the world’s largest asset manager, was the largest institutional shareholder of three publicly traded gun manufacturers, including the one that made the gun used in the Parkland shooting.
Northern Trust: As part of its long-standing commitment to ensuring diversity, equity and inclusion within the investment industry, Northern Trust Asset Management (NTAM) seeks requests for information from broker-dealers owned by minorities, women, veterans or people with disabilities – to provide trade execution services. Responses are due by Friday, July 29, at 5:00 PM CT.
U.S. News: Leading U.S. environmental group the Sierra Club has warned BlackRock Inc it may pull a $12 million investment after the money manager said it would likely support fewer climate-focused shareholder resolutions at annual company meetings this year.
BNN Bloomberg: Conservatives have identified the popular investing strategy, which accounts for environmental, social and governance risks, as part of a broader narrative about left-wing overreach and “ wokeness” run amok.
BNN Bloomberg: A benchmark ESG stock index has removed Tesla Inc., sparking a debate about which companies do — and don’t — pass muster with socially aware investors.
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