MondayApr 08, 2024 2:00 pm

Deloitte Survey Finds 8 in 10 Investors Have ESG Guidelines

New research has found that most investors have established ESG investment policies in the last couple of years in a bid to capitalize on opportunities and minimize sustainability-related risks. For the research, the Fletcher school at Tufts University and Deloitte conducted a survey of more than 1,000 asset managers, asset owners and investment advisers, including heads of strategy, CIOs, CEOs and other senior executives across regions in Asia, North America and Europe. Once this was done, interviews with sustainability and investment leaders were carried out between January to December last year. The researchers observed considerable growth in the share of…

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FridayApr 05, 2024 10:00 am

Saba Capital Boosts Holdings in BlackRock ESG Trust by $5.4m

According to recent filings with the Securities and Exchange Commission, Saba Capital Management recently made significant purchases of BlackRock ESG Capital Allocation Term Trust’s common stock. The trust, which trades under the ECAT ticker on NYSE, is part of BlackRock's suite of sustainable investment products that are focused on environmental, social and governance (“ESG”) criteria. The credit-relative, value-focused hedge fund purchased a total of 314,036 shares via two different transactions on March 27, 2024, and March 28, 2024, with a combined value of more than $5.4 million. The first transaction saw the hedge fund purchase 110,651 shares at a $17.23…

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WednesdayApr 03, 2024 10:00 am

Mississippi Slaps BlackRock with Cease & Desist Order Over ESG Investments

Last week, the office of the secretary of state in Mississippi via the Securities Division issued BlackRock with a cease-and-desist order arising from statements it made on both its non-ESG and ESG funds. ESG funds are those that integrate environmental, social and governance factors in their decision-making when it comes to investments. In its cease-and-desist order, the division reprimanded the multinational investment company for deceptively marketing its ESG funds and explained that claims about ESG funds bringing in better financial returns were untrue. The securities division then revealed that the company’s non-ESG funds weren’t managed without regard for ESG criteria,…

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MondayApr 01, 2024 10:00 am

Legislation Reintroduced in Congress to Block Retirement Plan ESG Investing

Earlier this month, Representative Greg Murphy reintroduced an amended measure in Congress that would prevent retirement plan trustees from investing in environmental, social and governance (“ESG”) on behalf of participants and beneficiaries. The measure, which was advanced to the House Ways & Means Committee, was cosponsored by Reps. Beth Van Duyne, Claudia Tenney and Mike Kelly. In a statement, Murphy explained that tax-advantaged retirement plans helped people save for their retirement and therefore needed to be managed in a way that would bring in the most returns instead of investing in risky ventures. He noted that unstable investments could be…

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