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Pressure on creatives: PR, advertising firms targeted by fossil fuel divestment movement. As with the financial divestment movement, there is a valid debate about whether engagement with high-carbon firms that are working to reduce their emissions is more effective than simply severing ties. Michael Holder. Mon, 11/30/2020 - 01:00.
In October, the annual PRI in Person conference kicked off in Toronto with opening remarks from Luke Gould, the CEO of Mackenzie Investments, a Canadian leader in responsible investing and the lead sponsor of the event. Sustainability is more than a buzz word. We buy and sell companies all the time for a variety of reasons, quite frankly.”
It’s the result of rapidly increasing underwriting losses to climate-driven events that insurers and reinsurers are seeing worldwide.” Insurance companies often offer policies that cover directors’ and officers’ liability insurance for corporations, in the event they get sued for negligence. In the U.S.,
This helps explain why more than $11 trillion have been divested from fossil ownership, even before the University of California announced that it was divesting its $80 billion portfolio. Surely the world runs on oil. This will just be a blip to what is an essential industry for humankind, won’t it? economy $150 billion annually.
An investor’s decision to divest “doesn’t mean an end to all ESG-focused engagement with that company”, according to Eric Nietsch, Head of Sustainable Investing for Asia at Manulife Investment Management. . There’s ultimately a place for both engagement and divestment,” said Nietsch. “If Multi-year effort .
To divest or not to divest? Another is establishing the liquidity levels of those investments which enable rapid divestment. Many began the divestment process because of evidence of systematic human rights abuses and corruption led from the very top. However, allocators’ work does not end there. billion (£2.3 billion (£2.3
Vogue Business reports that Ebay is also promoting secondhand fashion by holding two “Endless Runway” streaming events in New York and London, in partnership with the Council of Fashion Designers of America and the British Fashion Council.
The evidence indicates that the oil lobbyists fund research, sit on governing boards (especially at the University of Alberta), host recruitment events and seek opportunities to influence academic curricula. The researchers also surfaced confidential documents that prove that businesses work deliberately to alter academic outcomes.
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. The post Investors Told to Embed Sustainability at PRI Event appeared first on ESG Investor. billion) in AUM.
This divestment represents a very attractive purchase price and allows us to focus on our core agricultural business and the successful implementation of our Crop Science Division growth strategy,” said Rodrigo Santos, Member of the Board of Management of Bayer AG and President of the Crop Science Division. billion U.S. dollars (2.4
When a responsible investor sells – or divests – from companies that are low-performing on ESG metrics, this provides an opportunity for an indiscriminate investor to buy the security in their place. His predictions are not intended to be relied upon as a forecast of actual future events or performance or investment advice.
This overtook the Marinara dam disaster as Brazil’s most catastrophic environmental event, which killed 19 people and destroyed the village of Bento Rodrigues in 2015. The authorities and companies involved must step up as soon as possible and prevent these wholly unacceptable events.”. Disputing divestment.
The transaction includes the divestment of Bayer’s West Sacramento Biologics Research & Development site, and its internal discovery and lead optimization platform. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments. View original content here.
From companies looking to select cleaner manufacturing suppliers, to investors seeking to divest from polluting industries, to consumers making choices about which businesses to patronize, one thing is clear: a reliable way to measure where emissions are coming from is necessary," they wrote.
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.
The divested business is set to operate as an independent company called Envu. “At the same time, we can concentrate on our core agricultural business and the successful implementation of our growth strategy in the Crop Science Division.” Bayer will use the net proceeds from the transaction to reduce its net financial debt.
Harvard finally announcing their divestment from fossil fuels (after years of pressure from outside groups) earlier this year. The events we've included in this interactive history stand out as significant moments in this global movement. But this is nowhere near a comprehensive collection.
Forward-looking statements reflect the company’s current expectations and projections about future events at the time, and thus involve uncertainty and risk.
Additionally, businesses across all sectors can be in a state of disruption at any time due to operational changes in process or technology, corporate changes from mergers or divestments and global changes from politicians and trade wars. For these reasons and more, mainstreaming conservation into corporate operations can be challenging.
The UK’s Financial Conduct Authority (FCA) will closely monitor funds’ use of incoming green investment labels, potentially stopping asset managers from using them in the event of misuse. . Sadan also advised that in order to affect change on firms’ ESG practices, investors need to engage over the long term rather than divest investment.
Aviva Investors expressly referred to divestment as a potential strategy to achieve these goals. But he said Blackrock would not pursue a divestment policy from fossil fuels, although the firm would allow clients to do so.
Public and private sector coordination provides the theme – and events of Nairobi, London and Rio de Janeiro the backdrop – for this week’s digest. A selection of the major stories impacting ESG investors, in five easy pieces.
The 2015 Paris Agreement (COP21) also played a key role in highlighting the significance of climate issues, he says; it was evident that many private players, including corporates and investors were striving to enhance their climate commitments leading up to the event. The Church Commissioners, which manages the CoE’s £10.3 billion (US$13.2
Listings and Revenue Karen Snow, on Monday at Nasdaq Market Site for our event, “The Strategic Imperative of the ‘S’ of ESG.” “I don’t think divestment is a good idea,” he said. To unpack them, we brought together Engine No. And he sees long-term investor engagement with these companies as key to this success.
Speaking at the event, UN Climate Change Executive Secretary Simon Stiell noted the risks of desertification across the continent, which is claiming 4.4 Those undecided between maintaining dialogue and divesting – on financial or ethical grounds – might benefit from reading a new analysis commissioned by UK asset owner Border to Coast.
It’s an annual event for the energy and sustainability crowds, the latest World Energy Outlook by the reputed International Energy Agency is out. For years, this publication was lowballing renewable energy sources. And all along independant organizations were lamenting the fact.
Private equity investments often demand long holding periods to allow for a turnaround of a distressed company or a liquidity event such as an IPO or sale to a public. Eleven Resources for Responsible Investing Including Divestment from Fossil Fuels. Sustainable and Responsible Impact Investing in the US.
De-risking in response to global events is narrowing allocations, however, with a decrease in investment to alternative markets despite there being growing interest in areas such as green energy infrastructure. Risk appetite fall. Engagement to the fore.
Financial institutions need to work with emitters instead of jettisoning them to green their portfolios, said panelists at the Unlocking Capital for Sustainability event organised by Eco-Business.
Meanwhile in the asset management sector, Legal & General Investment Management said it would divest from Russian sovereign debt and the manager has reduced total exposure to 0.1% of AUM or £1.3 billion. .
This compares to a second quarter 2021 Net Loss of $486 million and non-GAAP Operating Earnings of $47 million, which included results of the divested fossil and solar assets. This event can be accessed by visiting [link] to register. Carbon-Free, Infrastructure & Other (CFIO) reported a Net Loss of $174 million ($0.35 per share).
Vogue Business reports that Ebay is also promoting secondhand fashion by holding two “Endless Runway” streaming events in New York and London, in partnership with the Council of Fashion Designers of America and the British Fashion Council.
Events this week underlined calls for acceleration by GFANZ Co-chair Carney. Overall, fossil fuel firms’ strategies are still too reliant on asset divestment and unproven technologies, according to a new Carbon Tracker report. Does this mean polluters’ net zero plans are now on the right track?
As extreme weather events grow in both frequency and magnitude under the changing climate, decarbonisation plans need to be adapted to build resilience to these more potent extremes. Companies should evaluate the system design components which are concurrently vulnerable to extreme heat events.
Fiscal non-event – Although the Inflation Reduction Act is now finding its echo in Europe, Britons are still waiting to find out what a green budget looks like. More policy action is promised, later this month, in an event dubbed ‘ Green Day ’. In Canada and Europe, the emphasis is on transition.
With the Intergovernmental Panel on Climate Change (IPCC) warning this week of the growing risk of significant near-term climate change impacts unless rapid changes are made, global displacement from extreme weather events looks set to grow.
As a sophomore, Kahlila collapsed from dehydration at a school event. For example, in 2020, the student-led group Students Deserve (a TCE grantee) supported Kahlila and other teens in advocating that the Board of the Los Angeles Unified School District shift priorities away from policing and toward investments in Black student success.
For example, an asset manager may have a limited carbon footprint and can appear to be on track to net zero by divesting its high-carbon assets, however such action is effectively passing the problem onto someone else. It is also engaging with various policy bodies, such as the Coalition of Finance Ministers for Climate Action and GFANZ.
Despite many pension funds declaring their frustration at laggardly transition planning in the sector, as engagement yields limited results, divestment still seems to be the hardest word. Of pensions and profits – Oil and gas profits were also in the news with higher-than-expected profits announced by BP and Shell among others.
TIUK said impact investors too often neglect to follow up on pre-investment due diligence, responding only after further events arise to cause concern.
Diversification or divestment are not realistic options. At last week’s PRI in Person event in Tokyo, many firms highlighted how they had already used TNFD’s LEAP approach to identify their most material risks, dependencies and impacts, with some also reporting these in annual sustainability reports alongside climate risks.
Our approach is about better information and empowerment, not about divestment or directly penalising today’s high carbon emitters. The whole trustee board must be involved with climate-related decisions,” said Brendan Walshe, a member of the TPR’s investment consulting team, also speaking at the PLSA event.
Any decision made to disengage or divest must be done in a responsible fashion, including scrutinising for any unintended human rights consequences.” . said Matthews, also speaking at the PLSA event. . But, long-term, this is ultimately going to speed up the transition,”?said
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