Call it a fight over conflicting ideological screening methods or a backlash against a backlash. But, regardless of the initial label, a major political battle over environmental, social, and governance (ESG) principles is gathering steam. As conservative U.S. states fall in line against the usage of ESG principles for public pension investments, 13 state treasurers… Read More >>
19 State AGs Oppose BlackRock’s ESG Pension Push
Another anti-ESG push from the right is emerging and this time it’s taking aim at what is arguably the world’s largest asset manager. The attorney general for the Grand Canyon state Mark Brnovich earlier this month created “a coalition of 19 states that sent a letter to BlackRock Inc., calling out its practices of putting… Read More >>
Greenwashing Crackdowns Should Spur ESG Funds Review: Q&A
(For financial services firms, the term “greenwashing” refers to misleading marketing about investments based upon Environmental, Social and Governance (ESG) and sustainability concerns. The practice has been getting a lot of attention recently as major media have reported upon a raid by German authorities of Deutsche Bank’s DWS offices in an effort to gather evidence… Read More >>
BNY Mellon Unit & SEC Resolve ESG Omissions Case
BNY Mellon Investment Adviser (BNYMIA) is paying a $1.5 million penalty to the SEC to settle charges that it made “misstatements and omissions” about the mutual fund reviews that were intended to verify whether environmental, social, and governance (ESG) concerns were considered when investment decisions were made. As the SEC explains in its order, its… Read More >>
ESG Boosts Client Engagement via Social Media: Q&A
(A survey conducted by digital client engagement vendor Hearsay Systems, which focuses on financial services markets, has revealed that “principles-based messaging” is achieving the highest engagement rates for financial services firms, particularly financial advisors and agents. Such messaging refers to Environmental, Social, and Governance (ESG) criteria, and efforts to involve more women and more diversity… Read More >>
CalSTRS to Apply Proxy-Voting Powers to ESG Goals
CalSTRS, the influential California State Teachers’ Retirement System that tallies $318.1 billion in assets under management (as of February 28, 2022), is putting its money where its values are. The public pension fund has declared that it will be using its proxy voting power to make sure that the companies it invests in actually live… Read More >>
E.U. Leads U.S. in ESG Regulatory Guidance: Report
A new report just might provide a reality check for the recent commentary about climate change, the financial services industry, and regulators in America and around the world. But there’s a catch. According to the report, the United States “has a number of significant financial regulators and a far more complex regulatory landscape than the… Read More >>
Broadridge Dashboard Offers ESG Views of Companies: Q&A
(Post-trade systems, services, and software provider Broadridge Financial Solutions recently launched the Broadridge ESG Performance Dashboard, an effort that is intended to present investors and shareholders with a wide view of companies and their Environmental, Social and Governance (ESG) ratings, officials say. ESG criteria “are a set of standards for a company’s operations that socially… Read More >>
Most Global Funds Still Support Pollution: CDP
“Money makes the world go round. The world go round.” So sang Joel Grey and Liza Minnelli. But don’t take it from “Cabaret,” set in the inter-war Weimar Era, or even from Christopher Isherwood’s “The Berlin Stories,” on which the big-screen, Oscar-winning musical was based. Money has always been the siren song of Wall Street,… Read More >>
CBA Invests $15M in Xpansiv’s Carbon Market Plans
Carbon-trading markets and exchanges were the rage in 2008 particularly during the heated U.S. presidential campaign when even right-of-center candidates were embracing the concept. However, the Great Recession, right-wing and left-wing extremists, and strident groups of all kinds stopped any positive movement on the carbon-trading front. No realistic alternatives to carbon-trading venues and systems took… Read More >>
