.png?width=200&height=78&name=CH%20Diligence%20(thicker%20line-white).png "CH Diligence (thicker line-white)")
Opalesque: U.S. institutional investors are starting to catch up incorporating ESG factors into investment processes. 42% of U.S. institutional investors incorporated environmental, social, and governance (ESG) factors into their investment decision-making process in 2019.
Pensions & Investments: San Francisco City & County Employees' Retirement System added 17 names to its list of restricted thermal coal companies as part of its annual ESG review, confirmed Darlene Armanino, executive assistant and board secretary. Of the 17 companies added to the list, four — Foresight Energy, GEO Energy Resources, New Hope Corp. and Yang Quan Coal Industry (Group) Co. — were added because they derive 50% of their revenue from coal.
Citywire: Proxy voting has become a buzzword in circles of socially responsible investors, it strips out those truly looking to make an impact from the loud supporters of ESG who, in reality, only go as far as excluding a handful of sectors.
Top 1000 Funds: “We take the S in ESG very seriously,” said John Adler, mayor’s trustee and advisor to the other mayoral appointees at New York City’s $200 billion five retirement systems. Speaking at the Fiduciary Investors Symposium at Harvard University, Adler highlighted the critical role investors play in protecting workers’ rights and ensuring a just transition as the global economy adapts to the implications of climate change.
IADB: The Inter-American Development Bank ("IDB") priced a new CAD600 million 5-year fixed rate l Sustainable Development Bond (“SDB”). This transaction represents the IDB’s inaugural SDB issuance, the proceeds of which will be directed to support sustainable development in IDB’s member countries aligned with the Bank’s strategic priorities to reduce poverty and inequalities in Latin America and the Caribbean by promoting economic and social development in a sustainable, climate friendly way.
The Los Angeles Times: Our job is to make money for the University of California, and we’re betting we can do that without fossil fuels investments. We are investors and fiduciaries for what is widely considered the best public research university in the world. That makes us fiscally conservative by nature and by policy — “Risk rules” is one of the 10 pillars of what we call the UC Investments Way.
Pensions & Investments: Asset owners such as CalSTRS say they are loath to resort to divestment as they increasingly act on incorporating sustainability and ESG factors into their investing.
The Real Deal: Real estate executives at the front of the industry’s push toward sustainability will gather in New York City in a few days for Climate Week – the annual event coinciding with the U.N. General Assembly when business and government leaders join together to tackle climate change.
Institutional Investor: Steve Pagliuca, the co-chairman of private equity firm Bain Capital, and Howard Marks, the co-chairman of alternative investment firm Oaktree Capital Management, were among the 145 executives who sent a letter to the Senate Thursday asking them to pass a bill on gun control.
S&P Global Market Intelligence: The U.S. may need to create its own classification system to encourage investment funds to take a standardized approach to environmental, social and governance criteria, according to the U.S. Securities and Exchange Commission's Robert Jackson Jr.
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