16 Reasons Why the CFO Must Prioritise ESG and Sustainability   The role of the Chief Financial Officer (CFO) has evolved significantly beyond leading a company’s financial operations. Today’s CFO collaborates with various business functions, serving as a strategic ally to the CEO in the pursuit of maximising value. They influence portfolio strategy, oversee major investments and financing, and engage…

Norwegian pension fund says labour reforms in the Gulf have not assuaged concerns; also excludes Saudi Aramco over energy transition.   Concerns about migrant workers’ rights and systematic surveillance have led Norway-based pension fund KLP to exclude 11 firms in the Middle East, and also Saudi Aramco over energy transition concerns and its dominant state ownership.    The 11 companies,…

The first week of 2024 gave a few glimpses of the challenges and opportunities to come for policymakers, companies and investors. New year, new targets – Asset owners might reasonably start 2024 looking for signs of policymakers implementing headline commitments from COP28, specifically accelerating their transition away from fossil fuel use in energy systems, tripling renewable energy capacity and doubling…

Agreement marked by compromise rather than high ambition still provides stability for climate-focused stewardship, according to Lindsey Stewart, Director of Investment Stewardship Research, Morningstar. The COP28 climate conference in Dubai highlighted all that we need to worry about regarding the growing urgency of climate action and revealed very little that we didn’t already know. As expected, the COP28 agreement was…

On December 21, 2023, the New York Department of Financial Services (“NYDFS”) finalized guidance on how the banks and mortgage institutions it regulates (“New York Institutions”) should manage climate-related financial and operational risks (the “Guidance”). The Guidance establishes extensive obligations for New York Institutions, which—even if tailored by the state to be proportionate to size and activities—may create a significant…