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Article 9 funds are still underreporting their exposure to fossil fuels, new data has found, with levels of disclosure still generally quite low. Analysis carried out by sustainability technology platform Clarity AI found many asset managers are submitting European ESG Templates (EETs), despite them being voluntary at this stage, but the level of detail included … Read more
The Sustainable Markets Initiative (SMI) has launched a transition categorisation framework to help asset managers reach net zero. SMI’s asset manager and owner (AMAO) taskforce, made up of 34 asset managers around the world, will introduce the framework. Its intention is to categorise assets that fulfil the objectives for a pathway to a net-zero transition, … Read more
Proxy advisors ISS and Glass Lewis are facing questions from Republican attorneys general over their ESG guidance. A letter sent earlier this week from attorneys general from 21 states accuses the firms of running afoul of laws and contractual obligations for state investments. The measure is among the latest developments in a snowballing anti-ESG push … Read more
Manulife and the World Economic Forum have partnered on two forestry initiatives, announced at Davos. Through UpLink, the Forum’s open innovation platform, the pair have launched two challenges aimed at finding “ecopreneurs” that can come up with innovative solutions to safeguard nature, climate, livelihoods and the wellbeing of people. First, the Sustainable Forest Economy Challenge … Read more
Greenwashing in banking is prevalent. Yet, when equipped with the right knowledge, its risks and reputational harm are easily avoidable. Reading Time: 3 minutes Whether it be carbon footprint trackers or socially responsible funds, the market for sustainable banking products and green investments is booming – and with it rises the demand for genuine and … Read more
One in five green, social and sustainability (GSS) bonds from the non-financial sector came from the auto industry in 2022, a report by MainStreet Partners has found, in a boom for electric vehicle funding. The annual issuance of GSS bonds declined for the first year on record last year, at approximately $845bn, down from $1.05trn … Read more
Investing in low-carbon stocks is only one part of the climate solution. After all, it is no good investing in windmills if the steel mills that supply them do not decarbonise. The most difficult part of the energy transition – and what underpins our ability to prevent global temperatures rising beyond 1.5°C – is the … Read more
Violent suppression of peaceful protestors against a coal mine expansion, and its funding by a secret loan from HSBC, calls into question the value of engagement over total divestment, a sustainability advice consultant has said. Rebecca Kowalski, founder of advice consultancy firm Overstory and ESG Clarity EU Committee member, said images of scenes at Lützerath, … Read more
Hong Kong’s legal sector needs to address its ‘boys’ club’ culture in which men form groups excluding women, and tend to favour other men when it comes to promotions or professional development opportunities. That was one of the many conclusions that came from a joint survey from law firm Mayer Brown and pressure group Women … Read more
UBS Asset Management has hired Narina Mnatsakanian (pictured) in the newly-created role of head of impact investing. Reporting to head of sustainable investing Lucy Thomas and based in the Amsterdam office, Mnatsakanian will lead the expansion of the group’s impact investment offering, research and impact measurement capabilities. Previously, Mnatsakanian led sustainability and impact investments at … Read more