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U.S. News: BlackRock Inc, the world's largest money manager, voted against a resolution calling for Commonwealth Bank of Australia (CBA) to stop financing new fossil fuel projects, it said.
BNN Bloomberg: Fewer than one in ten companies are measuring their greenhouse gas emissions correctly, according to Boston Consulting Group, highlighting a major hurdle in the race to net-zero.
Financial Post: Prince Harry, Duke of Sussex, and his wife, Meghan Markle, Duchess of Sussex, are the latest to join the boom in sustainable investing as they follow Wall Street in embracing a multitrillion-dollar industry.
Yahoo Finance: A BlackRock Inc. decision to give some of its biggest clients more power to vote at shareholder meetings just added a new twist to the raging debate at the heart of ESG investing.
Business Wire: Blackstone announced that Amisha Parekh has joined the firm as Global Head of ESG for Private Equity. Ms. Parekh will be a Managing Director sitting within the firm’s Portfolio Operations group to lead ESG diligence, policy development and strategy, and reporting for all businesses in our Private Equity reporting segment.
BNN Bloomberg: Five years. That’s roughly how much time the investment universe has left to stop feeding capital to greenhouse-gas emitters before it’s too late, according to the co-founder of Generation Investment Management LLP.
Financial Post: The international trend, after all, is undeniable: according to the Sabin Center for Climate Change Law at Columbia Law School, more than 1,385 lawsuits seeking relief from climate change, which is but one aspect of ESG litigation, have been filed in the U.S. And more than 425 have surfaced in other countries, including Canada, France and Britain.
Knight Foundation: New study reveals that 30 of the 55 largest foundations are currently investing one in six dollars of their total U.S.-based financial assets with diverse-owned asset management firms.
CNBC: Dalio, 72, stepped down as co-CEO of hedge fund Bridgewater Associates in 2017. Since then, the billionaire’s ventures have largely refocused on sharing knowledge with younger generations, ranging from people management software company Principles to OceanX, a New York City-based ocean research and exploration nonprofit that Dalio co-founded with his son Mark in 2018.
Financial Post: There’s a veteran of ESG investing who can’t wait for tougher regulations to stamp out the false claims by fund managers in the US$35-trillion industry he helped champion.
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