ESG Archives - Page 16 of 50

WednesdaySep 04, 2024 10:00 am

Why Commodities Are Finding Their Way into ESG Portfolios

A recently conducted analysis has determined that more fund managers are including mining, gas and oil stocks in portfolios registered as environmental, social and governance (ESG). The analysis was carried out by Goldman Sachs Group Inc., with investigators examining funds registered under the Sustainable Finance Disclosure Regulation. This is the largest ESG investing rulebook globally and is focused on improving the comparability and clarity of sustainability disclosures. This regulation classifies sustainable funds into two: the strictest (Article 9) and the broadest (Article 8). The investigators found that in comparison to 12 months ago, fund managers were generally more exposed to…

FridayAug 30, 2024 10:00 am

Indiana’s Secretary of State Alleges BlackRock Committed Securities Fraud over ESG Funds

Diego Morales, the secretary of state of Indiana, recently penned a cease-and-desist letter to BlackRock for securities fraud. Legislators in the state have already approved a bill that prohibits contentious strategies for environmental, social and governance (ESG) investment. In the letter, Morales accused the company of making misleading and false statements concerning its ESG funds. The letter was issued to the company through the state’s securities division, which regulates the securities industry. It is almost identical to a letter issued by Michael Watson, Mississippi’s state secretary. Indiana’s securities division claims that the asset manager repeatedly told investors in the state…

WednesdayAug 28, 2024 10:00 am

BlackRock’s Support for Shareholder Resolutions on ESG Dips to New Lows

Last week, BlackRock Inc. reduced its support for shareholder proposals associated with environmental, social and governance (ESG) issues to 4.1%. The multinational investment company made the announcement in its recent AGM, revealing that most proposals had been declined. As of June 2024, 493 resolutions had been submitted, which was an increase from the 455 submitted last year. Last year, the company supported 6.7% of environmental and social-related resolutions, which makes the recent announcement quite a decrease, especially when compared to the support it gave proposals in the 2020–2021 period. Morningstar Sustainalytics’ director of investment stewardship research, Lindsey Stewart, stated that…

TuesdayAug 27, 2024 10:00 am

NYC’s Head of ESG Says Managers of Private Markets Are Unbothered by Backlash

John Adler, the head of ESG for retirement systems in New York, revealed recently that there had been no withdrawals on environmental, social and governance (ESG) among managers of private markets. In a recent interview, Adler explained that private market managers were focused on strengthening their ESG processes and had already allocated more resources to work on these initiatives. He called to attention the differences between managers of private markets and their public market counterparts, noting that while both sides seemed to be working on ESG, public market managers didn’t necessarily announce their moves. This may be because over the…

FridayAug 23, 2024 10:00 am

US Federal Court Issues Permanent Injunction Against Law Blocking ESG in Missouri

Earlier this week, a federal court issued a permanent injunction against a law that restricts financial professionals from integrating environmental, social and governance (ESG) considerations into their investment advice. In their ruling, the judges argued that the law was unconstitutional and vague. District Judge Stephen Bough, who presided over the case, found that the vagueness of these regulations was especially bothersome given the penalties imposed on those who didn’t comply. These penalties include a civil penalty of $25,000 for every violation along with loss of registration and criminal penalties. The injunction bans the application, enforcement or implementation of the regulation.…

WednesdayAug 21, 2024 10:00 am

Virginia AG Pens Advisory Warning Against ESG Investments

Last week, Virginia’s attorney general released an advisory opinion directing the Virginia retirement system in the state against making investment decisions that prioritized environmental, social and governance (ESG) issues. The attorney general, Jason Miyares, explained in the nonbinding legal analysis that the state’s retirement system needed to base its investments on what would generate the best financial results for its beneficiaries. Members of the state’s retirement systems include public school teachers, state employees and employees of political subdivisions, such as cities, towns and counties. In a statement, Miyares explained that investments needed to be driven by calculated and careful financial…

MondayAug 19, 2024 1:30 pm

GlobalData Survey Discovers Financial Gain Now No. 1 Motivator for Including ESG Strategies

A recently conducted survey has determined that financial gain is the biggest driving factor behind companies introducing environmental, social and governance (ESG) strategies. The survey analyzed responses from 354 cross-industry respondents across its business-to-business (B2B) website network and found that enhancing a business’ financial performance was the main factor for introducing ESG strategies for 33% of respondents. This was partly because of a reduction in pressure from the government and the perceived importance of legislation, which made up 31% of the responses. The survey’s findings demonstrate a shift in how ESG is being regarded, from a financial burden to a…

FridayAug 16, 2024 10:00 am

Tapping Technologies for Water Efficiency Can Boost Companies’ ESG Efforts

Studies carried out by Oxford Economics and Cognizant Research determined that businesses in the United Kingdom are planning to increase what they spend on sustainability by 13% annually between next year and 2030. This comes as more companies work to offset and cut emissions, decrease use of paper, adopt EV schemes and improve traceability in their supply chains. While these initiatives are helping drive positive change for the environment and society as a whole, what isn’t clear is whether companies are also working to minimize the use and wastage of water to boost their environmental, social and governance (“ESG”) efforts.…

WednesdayAug 14, 2024 10:00 am

How Trustees Can Shield Themselves Against an ESG Backlash

While the world is making strides to be more conscious of the environment and those around them through environmental, social and governance (ESG), some are working against this wave. Today, we discuss how trustees can shield themselves against ESG backlash. Anti-ESG litigation is broadly defined as legal action focused on preventing the ESG agenda. That type of litigation is increasing, with a recent report showing that last year 50 such cases were filed with a majority being being filed in the United States. The backlash on ESG mainly focuses on investing and whether integrating climate risks in financial decisions presents…

MondayAug 12, 2024 10:00 am

PwC Survey Uncovers Mismatch Between Workers, Companies Views of ESG

PwC recently conducted a survey that uncovered a huge disconnect between the focus most companies have on environmental, social and governance (ESG) initiatives and the actual priorities of employees. PwC is a multinational professional services brand of companies, operating as partnerships under its brand. It is one of the largest global professional-services networks globally and is considered one of the major accounting companies, along with KPMG, EY and Deloitte. The survey determined that while businesses place a lot of importance on sustainability, employees prioritize personal benefits such as career advancement and fair pay more. The survey, which focused on the…

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