The demand for sustainability disclosures from funds has far outpaced regulation in recent years. For investment trusts, this has created a dilemma. While wanting to satisfy investors’ desire for disclosure, trusts’ boards and managers have been bombarded by a barrage of different sustainability standards, frameworks and expectations – and a lack of clear guidance from the regulator. The result is…
The increased scrutiny on asset manager engagement is a sign the ESG investment industry is “growing up” and firms should welcome these questions, said Fidelity’s head of stewardship for Europe in this video interview. She explained how standards are moving and best practice is evolving, which is, for her an exciting time to be working in a stewardship role. Goodall…
Of the 2,000 global companies identified as having the greatest potential to transform systems and influence progress toward the UN’s Sustainable Development Goals (SDGs), less than a third have verified emissions reduction targets, according to a report. The companies, known as the SDG2000, are identified by the World Benchmarking Alliance at the start of every year, and in 2024 includes…
Ontario Teachers’ Pension Plan (OTPP), one of Canada’s largest investors, announced the release of its 2024 Proxy Voting Guidelines, with strengthened expectations for company boards on climate oversight. One of the key changes to OTPP’s proxy voting guidelines this year includes the expectations for board audit committees, specifically related to climate change. According to OTPP, audit committees are coming under…
The U.S. Department of Energy announced $104 million of investments in net zero-focused energy conservation and clean energy projects at 31 Federal facilities, including initiatives to boost building electrification, add on-site solar, and install heat pumps. The new investments form the first of three disbursements from a $250 million funding program launched last year by the Biden administration, aimed at…
Global energy developer Ørsted announced that it has signed a long-term, 15-year renewable energy power purchase agreement (PPA) with business and financial markets information service provider Bloomberg. Under the new agreement, Ørsted will provide Bloomberg with 80MW of energy generated by its Texas-based Mockingbird Solar Center project, currently under construction. Bloomberg has committed to source 100% of its electricity from…
Goldman Sachs Asset Management (GSAM) has launched the Global Environmental Transition Equity fund to invest across five themes for sustainability. The Article 8 fund will focus on extraction, power generation, manufacturing, transportation, and consumption industries. GSAM says it will look for companies that currently have a ‘heavy’ environmental footprint and are looking to improve by reducing their environmental impact, and…