Tag: ESG

ESG must be split in two | Financial Times

The flaw is that ESG has carried two meanings from birth. Regulators have never bothered disentangling them, so the whole industry speaks and behaves at cross purposes. One meaning is how portfolio managers, analysts and data companies have understood ESG investing for years. That is: “taking environmental, social and governance issues into account when trying to assess the potential risk-adjusted returns…

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Lombard Odier Says ‘Shocking’ Cyber Risks Trigger ESG Rethink – Bloomberg

Lombard Odier Investment Managers said the “shocking” results of an analysis into cybersecurity risks lurking in portfolio companies has led it to apply ESG processes far more broadly to protect its funds from losses. The Swiss asset manager is now on a campaign “to push these companies to get their basic cyber hygiene in order,” said Jeroen van Oerle, portfolio…

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Anti-ESG – Bloomberg

… If you call your fund “ESG,” that will make some people more likely to buy it and other people less likely to buy it, and if you are a giant institutional investor like BlackRock Inc. you will do a lot of vague balancing to try to appeal to everyone. But this is also a huge marketing opportunity for other, smaller investment…

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Larry Fink: Here’s Your Answer to the Despicable Letter from the GOP Attorneys General | by Nell Minow

I’m sure BlackRock CEO Larry Fink’s response to the obnoxious, accusatory, misleading, letter he received from 19 Republican state attorneys general will be measured, diplomatic, and thoroughly lawyered over. He will hope to mollify them to continue to be able to do business with the government pension funds. That is only right for someone who is in business, with employees,…

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Texas bans BlackRock, UBS, others over ESG investing

On Wednesday, Texas Republican Comptroller Glenn Hegar released a list of 10 companies and 348 investment funds that will be barred from doing business with the state because they “boycott energy companies.” The list follows enactment of a law last year prohibiting most state agencies and local governments from contracting with such firms. BlackRock, Credit Suisse and UBS made the…

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Florida Governor DeSantis Claims Win Against E.S.G. – The New York Times

Gov. Ron DeSantis of Florida yesterday advanced his campaign against environmental, social and governance investing. The State Board of Administration, on which he sits, adopted his proposal to ban the consideration of “social, political or ideological interests” when making investment decisions for the state’s pension fund. *** The resolution imposes broad limits on the pension fund’s investments. State administrators will…

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‘Hating ESG’: Advocates Rethink Sustainable Label as Culture Wars, DeSantis Bite – Bloomberg

Oxford’s Eccles, who was also the founding chairman of the Sustainability Accounting Standards Board, defends the concept of ESG, even if he thinks the label has run its course. Instead, he says he’s happy to talk about “material risk factors.” “I know it’s a boring term, but it’s accurate,” he said. “We never have to say whether they’re an E,…

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ESG Funds Face US SEC Probe Over Ceding Votes on Social Issues – Bloomberg

US regulators are expanding their crackdown on misleading labels of investment products with a probe focused on whether managers of funds that are marketed as sustainable are trading away their right to vote on environmental, social and governance issues. For the past several months, Securities and Exchange Commission enforcement lawyers have been peppering firms offering ESG funds with queries, including…

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