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ESG Today: Renewable energy developer Renewco Power announced that it has raised £29 million through new investments, with proceeds aimed at advancing its wind and solar projects throughout Scotland and the UK, and to accelerate the transition to clean energy across its key European markets.
Portfolio Adviser: Dominic Rowles has been promoted to head of ESG at Hargreaves Lansdown (HL) following the consolidation of two teams. The platform said following a re-calibration of accountabilities at exco, Emma Wall will be taking on SMF responsibility for ESG, consolidating ESG reporting, regulation and investment processes for HL as a business, employer, fund manager and platform.
ESG News: The UK Financial Conduct Authority has confirmed new appointments to its Sustainable Finance Advisory Committee, reinforcing the regulator’s push to strengthen governance, market credibility, and policy alignment as sustainable finance regulation becomes more complex and politically contested.
Funds Europe: ESG ratings agencies will be regulated by the UK Financial Conduct Authority (FCA) after the regulator said it had come across a number of potential issues, with firms often unclear about how these ratings are devised.
Funds Europe: EdenTree Investment Management is set to become the “only UK fund house with a fully SDR-labelled product range”, following its decision to adopt Sustainability Disclosure Requirements (SDR) labels for seven funds.
Financial Post: The hedge fund industry is lobbying hard to ensure the UK excludes it from new climate regulations, after prevailing in a similar campaign in the European Union.
Portfolio Adviser: The UK government has taken the next step towards regulating ESG ratings providers, tabling secondary legislation that places them within the Financial Conduct Authority (FCA)’s scope.
Portfolio Institutional: Administering authority the London Pensions Fund Authority (LPFA), and £8bn Local Government Pension Scheme (LGPS) fund, has announced that over 80% of its fund is being managed for climate resilience with actions to reduce the impact of climate change now in place.
Funds Europe: The UK’s defence and national security sectors are set for expansion, with investment in European defence, security and resilience startups reaching an all-time high of $5.2 billion in 2024.
The Guardian: Aviva’s chief executive, Amanda Blanc, has reiterated the insurer’s commitment to climate goals in the face of growing pushback against net zero ambitions in the US and UK.
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