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Yahoo Finance: Canada’s federal banking regulator suggested that the country’s financial institutions may face additional requirements to ensure they’re resilient in the face of climate change and the transition from fossil fuels to renewable-energy sources.
Comptroller: Comptroller Scott M. Stringer and trustees of the New York City Employees’ Retirement System (NYCERS) and the New York City Board of Education Retirement System (BERS) announced the successful divestment of securities related to fossil fuel companies, bringing the total divestment across all funds to an estimated $3 billion.
BNN Bloomberg: Europe’s main investment management association says U.S. and U.K. hedge funds will need to meet a higher ESG reporting bar than many in the industry had expected, if they want to continue selling to clients in the EU.
Institutional Asset Manager: Managed by PGIM Fixed Income – one of the largest fixed income managers in the world, with USD964 billion in assets under management – the new PGIM Strategic Income ESG Fund is a flexible, ESG-integrated multi-sector bond strategy, with a focus both on income generation and capital appreciation.
BNN Bloomberg: An obscure rule covering environmental, social and governance investing in Europe has prompted hedge-fund managers in the U.S. and U.K. to turn to their lawyers.
Cision: Bridgewater Associates ("Bridgewater"), a global leader in institutional portfolio management and the largest hedge fund in the world, today announced the launch of a new Rising Fellows program to expand access to the financial services industry for students in their first year of university and help build a more diverse pool of future investment talent.
Institutional Asset Manager: The largest US companies are disclosing their environmental, social and governance (ESG) policies at historically high levels, according to Corporate Governance Outlook 2022, a new report from Equilar, which features commentary from Orrick and DFIN.
BNN Bloomberg: Goldman Sachs Group Inc. plans to reduce the carbon footprint of its fossil-fuel clients by a fifth, and slash emissions in other key customer groups as it acts on a pledge to make its business climate neutral by mid-century.
Nasdaq: Climate-focused investors are calling on the major U.S. banks to quickly scale back their financing of new fossil fuel development, saying current commitments by the banks to curb global emissions are not enough.
Yahoo Finance: A group of Wall Street giants has decided to sit out one of the industry’s biggest coalitions: the Glasgow Financial Alliance for Net Zero.
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