.png?width=200&height=78&name=CH%20Diligence%20(thicker%20line-white).png "CH Diligence (thicker line-white)")
Top 1000 Funds: California’s Governor Gavin Newsom’s recent executive order calling on the state’s pension funds and endowments to invest more in green energy and less in fossil fuels flags more, complicated divestment decisions ahead for CalPERS 13-member board.
Chief Investment Officer: The New York State Common Retirement Fund has appointed Andrew Siwo to help lead its climate change-oriented ambitions as director of Sustainable Investments and Climate Solutions.
Institutional Investor: Twenty-nine U.S. schools excised the industry from their portfolios between 2011 and 2018, including Stanford University, Syracuse University, and Pitzer College. Another six endowments partially divested, most of them in California. Two researchers examined the burning question around dropping fossil fuels: What does it do endowment assets?
Reuters: About one-fifth of the California Public Employees’ Retirement System public markets portfolio is exposed to potential losses from climate change, the $381 billion pension fund manager reported this week in its first ever climate-risk disclosure report.
Reuters: The first public report on climate-related risks to financial markets ever commissioned by a U.S. market regulator will be out in June, the head of the group charged with writing it said on Wednesday.
MarketWatch: S&P Global and RobecoSAM, an affiliate of Robeco, announced today that S&P Global will acquire the ESG Ratings Business from RobecoSAM which includes the widely followed SAM* Corporate Sustainability Assessment (CSA) – an annual evaluation of companies' sustainability practices.
MarketWatch: Some 73 major U.S. companies recorded material hits to earnings from extreme weather events in one year, while supply-chain disruptions from climate change jumped 29% over the past six years.
Business Wire: The Concordia University Foundation committed today to end investments in the coal, oil and gas sector within five years. The Foundation also announced it would go further than this divestment and will be the first university foundation in Quebec with a target of 100% sustainable investments by 2025, including by doubling its social or environmental impact investment.
CNBC: Share prices for U.S. water utilities are on the rise as investors inject more money into socially responsible companies. While most utility shares are outperforming the markets, water utility stocks are being boosted by fears of water shortages and the rapid increase in assets of sustainable funds known as ESG.
Institutional Investor: The California Public Employees’ Retirement System (CalPERS) has divested from two publicly traded prison companies — CoreCivic and Geo Group.
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