Climate change – Page 62
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NewsLGIM sees results from ‘engagement with consequences’ over climate
UK’s largest asset manager reports improvements at companies in sectors that are pivotal to low carbon transition, but has axed companies including ExxonMobil and MetLife
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Expert group releases climate taxonomy proposal
EC publishes guidelines for corporate reporting of climate-related information alongside three expert group reports on big day for the Commission’s sustainable finance plan
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ESG roundup: Alphabet ‘should lead on responsible use of AI’, says Hermes
Also: Investors back carbon pricing accord at Vatican summit; CDP leads calls for better environmental reporting at 700 companies
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NewsHow the EU’s sustainability taxonomy will work for investors
Criteria for sustainable activities drawn up by EU-appointed experts could help reduce costs and reputation risks
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AXA IM calls for ‘transition bonds’ to help companies go green
New type of debt could help investors overcome challenge of financing companies aiming to become more environmentally-friendly
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NewsAlecta CEO calls on Swedish debt office to back green bonds
Magnus Billing says Sweden’s Riksgälden should get past its objections to green bonds and learn from French example
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Ex-CEOs of major European pension funds back new climate endowment
Mats Andersson, formerly of AP4, and Philippe Desfossés, ex-CEO of ERAFP, named as supporters of fund targeting €20-40bn in assets
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NewsCorporate climate-related financial information ‘still insufficient’: TCFD
Task Force on Climate-related Financial Disclosures uses artificial intelligence to analyse effectiveness of disclosures on climate-related issues
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German, Swiss and Austrian investors report spike in ESG investments
Sustainable investments volume increased by 50% across Germany, Austria and Switzerland, says FNG
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Joseph Mariathasan: Climate change and Asia
The effects of global warming and rising sea levels are being felt most keenly in countries in Asia
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ESG roundup: LSE buys analytics provider Beyond Ratings
Also: Exclusions lead sustainable investment surge in Switzerland; EIOPA consults on climate change and Solvency II; UK minister says schemes ‘doing the right thing’ on climate change
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NewsChurch of England leads shareholder rebellion at Exxon
More than 40% of shareholder votes support splitting chairman and CEO roles as investors increase pressure over climate change measures
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FCA urged to investigate fund manager voting policy ‘market failure’ [updated]
Pensions minister tells ‘obstructive’ fund managers to shape up on corporate governance after trustee association files official complaint with UK regulator
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BP investors press company on climate change reporting, targets
Management-backed shareholder resolution gets more than 99% of votes, but Follow This hails backers of its separate resolution as the ‘heroes’
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LGPS investment costs hit £1bn as cost code sheds light on fees
Public sector pension funds in England and Wales reported higher investment costs after a new code of transparency started to take effect
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ESG roundup: Another investor culls tobacco firms
Also: AP7 hails climate change actions by German firms RWE and BASF to address lobbying concerns
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Climate change protesters disrupt pensions conference
Extinction Rebellion representatives press government minister to scale back LGPS’ investments in fossil fuels
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Church fund to vote against entire Exxon board over climate change
Church of England’s £8.3bn endowment fund joins forces with New York public pension fund to increase pressure on oil giant
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Folksam greens SEK80bn foreign portfolio by halving share count
Swedish provider’s equity reshuffle has reduced the carbon footprint of the portfolio by 20%, as it cuts oil sands and coal-related companies
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KLP purges NOK3.2bn of shares as coal ban goes total
The Norwegian pension fund has reduced its coal tolerance limit to just 5% of a company’s revenue, cutting RWE, Sasol and BHP from its portfolio
