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ESG News: Global investors are entering a more demanding phase of sustainable finance, where climate risk is moving markets in real time, regulation is tightening but diverging, and technology is becoming central to investment decision-making.
ESG Dive: The lawsuit alleged discrimination based on perceived political affiliations, discrimination based on advocacy or perceived advocacy for protected racial and/or gender groups and race and/or gender discrimination.
Financial Post: Europe’s vision of a towering ESG framework that would become a gold standard for other jurisdictions across the globe has just come crashing down to earth. Against a backdrop of trade warnings from the US and sluggish competitiveness at home, the European Union has opted to dramatically scale back a rulebook intended to ensure companies adhere to environmental, social and governance standards.
Top1000 Funds: The Principles for Responsible Investment (PRI) will reduce signatories’ responsibilities in their annual mandatory reporting, as the UN-backed body looks to stay relevant amid a surge of new responsible investment codes and standards.
ESG News: New York City Comptroller Brad Lander has urged the trustees of the city’s three major pension systems to sever ties with BlackRock, Fidelity, and PanAgora after concluding the firms’ climate stewardship plans fall short of the systems’ net-zero requirements.
Wealth Professional: Canada’s responsible investing sector continues to evolve even as growth expectations ease and the pressure of global anti-ESG backlash rises.
ESG Dive: Lander, whose term as comptroller ends at the end of the calendar year, said all 49 of the asset managers for the city’s pension plans submitted their decarbonization plans to measure their alignment with the city’s Net Zero Implementation Plan.
Financial Post: Royal Bank of Canada denies claims that it fostered a “boys’ club” environment at its United States capital-markets business, disputing allegations that the firm engaged in sex-based discrimination against female bankers and offered unequal pay and promotions to women.
ESG Today: Florida Attorney General James Uthmeier announced the filing of a new legal action against proxy advisory firms Glass Lewis and Institutional Shareholder Services (ISS), claiming that the firms violated consumer protection and antitrust laws by jointly pushing an “ESG agenda” through their activities.
MSN/Reuters: A British real estate manager overseeing 26 billion euros ($29.93 billion) in assets and concerned about flood, fire and other climate-related risks to its properties sought help from Climate X, a data analytics firm based in London.
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