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Graham’s speech also included dubious statements about divestment and the pace of transition away from fossil fuels, claiming that the “global investment community has also changed its tune when it comes to fossil fuel divestment.” This “consensus” is imaginary.
December 20, 2023 /3BL/ - From a field of 99 submitted papers, Biodiversity Risk was selected as the winner of the 2023 Moskowitz Prize at Northwestern University. The authors view divestment as a form of voice, with disinvestment pledges resonating with boards, customers, employees, and stakeholders, especially via social media.
For the report, PwC’s Global Investor Survey 2023, PwC surveyed 345 investors and analysts across 30 countries and territories, with 65% of respondents at organizations with total AUM of more than $1 billion.
Asset managers also argue that divestment does not work, and that they lose influence when they exit fossil fuel companies. Asset managers should divest from fossil fuel companies that are proving resistant to influence and concentrate their finite engagement resources on those which can plausibly be influenced,” the paper noted.
ESG and sustainability are emerging as key drivers of growing institutional investor allocations to real asset investments, and nearly all investors now consider ESG factors in their real asset investment decisions, according to a new study released by Aviva Investors. trillion, in a survey conducted by CoreData Research.
Head of Sustainability at CDPQ Bertrand Millot highlights the pension fund’s focus on decarbonising the real economy, as well as comprehensively divesting from the oil industry. This achievement was one of several high points in the pension fund’s 2023sustainableinvesting (SI) report , published in April.
David Byrns, Portfolio Manager at American Century, explains why transition investing is fundamental to achieving net zero. While global sustainableinvestments reached US$30.3 Best-in-progress approach American Century launched a new strategy called Global Sustainable Value in November 2023.
The framework will form part of the UK’s Sustainability Disclosure Requirements (SDRs), the UK’s equivalent of Europe’s Sustainable Financ e Disclosure Regulation (SFDR). Sadan also advised that in order to affect change on firms’ ESG practices, investors need to engage over the long term rather than divestinvestment.
His resignation was even more impactful given he is the author of the government-commissioned review, ‘ Mission Zero – Independent review of net zero’ , published in January 2023 and looking at how the UK could deliver on its climate targets in a manner is more affordable, and pro-business.
Article 9 funds are considered the most sustainable, requiring portfolios with 100 per cent sustainableinvestments. The advantages of Article 9 funds lie in their ability to provide clear signals to investors regarding their commitment to sustainability.
Bolli was co-lead author of the protocol report, alongside Udo Riese, Global Head of SustainableInvesting at Allianz Investment Management. From 2023 onwards, members are also being asked to set decarbonisation targets on new commercial real estate loans, reporting on progress from 2024.
Federated Hermes’ stewardship services arm EOS noted that it will look to include the protection and restoration of biodiversity in its 2023-25 engagement plan. The 13 which did not respond had their information completed by ShareAction based on publicly available information.
Paul Lee, Head of Stewardship and SustainableInvestment Strategy at investment consultants Redington, told ESG Investor the proposals should simplify the vote reporting process for both parties. The post Make Vote Reporting Template Mandatory, FCA Told appeared first on ESG Investor.
Did escalating engagement by targeting directors move the dial? This slashes portfolio emissions and sends a strong signal to oil and gas firms about the financial consequences of failing to set out credible transition plans.
The SDR proposals include plans for three categories of sustainableinvestment label – sustainable focus, sustainable improvers and sustainable impact – to help investors differentiate between investment products with different objectives.
“If policy action has not improved, it’s very much in the balance if we can keep on working with that target,” he said, adding that the scheme’s ability to invest in climate solutions, including renewables, was being limited by economic and political factors, including permitting delays.
Through SIPs, trustees with 100 or more members are now expected to publicly state their – or their external managers’ – engagement policy and priorities, and explain in detail how they steward their sustainableinvestments. The DWP will assess whether further guidance is needed in H2 2023. .
However, as institutional investors, academics, NGOs, investor networks and data providers congregated in London last week for ESG Investor ’s inaugural Stewardship Summit , it became clear that many asset owners lack the resources necessary to fulfil their engagement ambitions.
Financial organisations thus have a major role to play in the decarbonisation of the global economy, yet it is estimated that since the Paris Agreement in 2015, the 60 largest banks have instead invested $5.5 Clearly much more needs to be done to pivot towards more sustainableinvestment and lending practices.
Both were speaking at a panel session on putting net zero commitments into practice on the second day of the event, hosted by the UN-convened Principles for Responsible Investment (PRI) this week in Toronto, Canada. of CDPQ’s total C$452 billion (US$329.7 billion) in AUM.
Pension fund makes case for divestment, against backdrop of increasingly positive climate policy across major markets. In response, PME has divested from fossil fuel investments and redirected the funds towards the energy transition by focusing on solar and wind projects.
We pursue a strategy of engagement rather than divestment. Unfortunately, the final SDR policy statement, published in November 2023, completely discarded references to metrics demonstrating stewardship effectiveness. Q – You have recently increased your exposure to several oil and gas companies. A – Stewardship.
With nature more broadly, there are further layers of complexity,” said Eric Nietsch, Head of SustainableInvesting, Asia, Manulife Investment Management. You have to bear that in mind when considering your investment decisions,” she said.
In Germany, the Supply Chain Law, which will become effective from 2023, requires mandatory human rights due diligence on global supply chains. Divestment was the least selected due diligence action by both business and general respondents.
Climate-related shareholder proposals are set to dominate the 2023 proxy season across jurisdictions. CPP Investments is a founder signatory of the UN-supported investor network, with the organisation expanding the size, and enhancing the strategies, of its sustainableinvestment team over the past 17 years.
Despite appearances, sustainableinvestments have quietly had a great year. Given the poor performance of green energy stocks and the chorus of opposition against anything viewed as “woke,” it’s easy to get lost in the narrative that the shine has worn off sustainableinvesting. But that’s not what I’m seeing.
The 10 Big Things To Watch Across World’s Energy Markets in 2023. Wed, 01/11/2023 - 14:05. BloombergNEF has analyzed these and other key developments, and here we look forward to what might be coming in 2023. As road and air traffic rebound, the International Energy Agency estimates China’s 2023 oil demand to climb by about 0.78
Ashley Thomson, Global Witness’s US Senior Policy Advisor Similar concerns have also been raised by Tariq Fancy, BlackRock’s former sustainableinvestment chief, who criticised the firm for “misleading investors” by using the ESG label, calling it a “dangerous placebo”. JBS is widely regarded as an ESG pariah.
Norway-based asset manager Storebrand recently excluded First International Bank of Israel for its involvement in the Occupied Palestinian Territory, while a number of major European banks and pension funds divested from Israeli weapons manufacturer Elbit.
In May, the European Commission published a summary report on a three-month 2023 consultation through which it gathering feedback on the effectiveness of the Sustainable Finance Disclosure Regulation (SFDR) over the past three years. Newly launched Article 8 and 9 funds, although on the wane, represented 53% of total EU fund launches.
In May, the European Commission published a summary report on a three-month 2023 consultation through which it gathering feedback on the effectiveness of the Sustainable Finance Disclosure Regulation (SFDR) over the past three years. Newly launched Article 8 and 9 funds, although on the wane, represented 53% of total EU fund launches.
In June that year Texas Republican Governor Greg Abbott signed into state law one of the country’s first pieces of anti-ESG legislation, requiring state entities – including pension funds – to divest from companies that boycotted fossil fuel and firearms. Since then, anti-ESG legislation has become a craze among Republican-controlled states.
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