The ICCR says the oil and gas major is undermining both the US SEC and investors through its action. Institutional investors have sent a letter to ExxonMobil’s board of directors, asking the oil and gas major to abandon a lawsuit it has brought against shareholder proponents. Exxon filed the lawsuit in January against investment manager Arjuna Capital and activist group…
Mini grids: Providing social as well as environmental opportunities
Blended finance offers a solution that “can help alleviate the technological and market risks” associated with investment in the low carbon economy, according to a report by the Institute for Energy Economics and Financial Analysis (IEEFA) and auctusESG. The report Blended Finance: Key to Bridging Energy Transition Gap in Developing Countries emphasises that blended finance is a useful financing tool…
Barclays Ends Direct Financing for New Oil and Gas Projects
UK-based bank Barclays will no longer directly finance new oil and gas projects, and will require its energy sector clients to produce transition plans or decarbonization strategies by the beginning of next year, according to a new “Climate Change Statement” released by the bank. Alongside its new energy policies, Barclays also released a new transition finance framework, outlining its criteria…
State Street launches ESG emerging market bond fund
State Street Global Advisors has launched the Article 8 State Street Emerging Markets ESG Hard Currency Government Bond Index fund, which invests in emerging market government bonds. The fund, which deals in USD-denominated bonds, began with an initial investment of $50m (£39.6m) and follows the J.P. Morgan ESG EMBI Global Diversified Index, which puts emphasis on issuers ranking higher on…
ESG assets to surpass $40trn by 2030 despite challenging market
Global ESG assets surpassed $30trn in 2022 and are on track to surpass $40trn by 2030 to reach over 35% of projected $140trn assets under management, according to the latest ESG report from Bloomberg Intelligence (BI). The report said the ESG market is set to mature and align with global regulation by the end of this decade. This is despite…
Green Dream with GIB AM’s Desai: Companies in emerging Asia understand improving ESG ratings is ‘potent’ for returns
Companies in emerging Asia have low ESG ratings but an increasing willingness and receptiveness for change, according to GIB Asset Management’s Kunal Desai. Crucially, he says in this Green Dream video interview, there is also an understanding that this “can be a potent source of shareholder returns”. Desai, manager of the GIB AM Emerging Markets Active Engagement fund, discusses the shift…
Engaging with investment trusts on human rights
To achieve net zero by 2050, investment in renewable energy must triple by 2030, reaching around $4trn (£3.2trn). However, as the renewables industry expands at pace, so too have concerns about its social impact. Allegations of forced labour in solar supply chains, child labour in battery mineral sourcing, and indigenous rights violations in wind farms highlight the need for a…