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Role of active stewardship across environmental and social themes emphasised at ESG Risk & Investment Asia 2022. . 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 SustainableInvesting for Asia at Manulife Investment Management. .
“It was very important to us that we linked the remuneration of everybody at Caisse de dépôt et placement de Québec (CDPQ) to achieving our climate targets – we are one of the first investors to do this,” said Bertrand Millot , the Canadian asset owner’s Head of Sustainability. of CDPQ’s total C$452 billion (US$329.7 billion) in AUM.
Climate risk and resilience are largely modeled by insurance companies, looking at how a company’s assets may be affected by rising sea levels, extreme heat, increasing natural disasters and other future climate events as climate change worsens. They need to showcase they are having a positive impact on the climate as well,” said Free.
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 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. . I really want you to make sure that this is not about just divestment. ESG really is about good business practice. It is about long term.
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. Sustainable and Responsible Impact Investing in the US. SRI and Impact Investing to Combat Climate Change. International Impact Investing Challenge.
That’s the finding of Newton Investment Management’s 2022 Charity Investment Survey , which notes that charities continue to acknowledge and embrace ESG investment factors, primarily at the prompting of trustees. Risk appetite fall. Engagement to the fore.
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. .
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.
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. As such, it is a concern that the blueprint for a state-level ban on integrating ESG factors into investment decisions was passed in Florida this week.
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.
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.
One might expect governance ratings to change over time rather than overnight,” said a sustainableinvestment analyst at a large UK-based asset owner. . Any decision made to disengage or divest must be done in a responsible fashion, including scrutinising for any unintended human rights consequences.” .
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.
Divestment was the least selected due diligence action by both business and general respondents. We also noticed an uplift in the number of outdated statements, signalling that some companies saw reporting as a ‘one-off’ box tick event.”
These were highlighted at last October’s PRI in Person event by Jan Rasmussen, Head of ESG and Sustainability at PensionDanmark. The disruption that weather events will cause to economies and markets at 1.8-1.9°C Net zero targets are still valid because the effects of global warming are exponential,” argues Martindale.
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.
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