The European Central Bank (ECB) published a first set of climate-related statistical indicators to better assess the impact of climate-related risks on the financial sector and to monitor the development of sustainable and green finance, fulfilling another of the commitments of its climate action plan. “We need a better understanding of how climateContinue…
Climate change will continue to take center stage on the European regulatory agenda in 2023 as financial authorities introduce new disclosure requirements for banks, heighten their expectations for lenders’ risk management and contemplate new prudential rules. As a result, this year banks will “spend a lot of time, money andContinue…
The 30% Club France Investor Group, alliance of board members and CEO committed to promote equality in business, launched the publication of its second annual report, revealing the latest trends and data on gender diversity at 120 companies part of the SBF 120 Index in France. Launched in November 2020Continue…
The annual Russell Investments ESG Manager Surveys assesses the integration of ESG considerations in investment processes among equity, fixed income and private markets managers, and spotlights firm wide policies, use of data, engagement and integration. Top survey findings This year marks the eighth annual ESG manager survey. The 2022 RussellContinue…
An article by Håvard Halland is a Norwegian economist at the OECD Development Centre and author of “a call to action” for the Norwegian Government Pension Fund Global to join the Net Zero Asset Owner Alliance. financial sector decarbonise Norges Bank Investment Management, which manages Norway’s sovereign fund, the Government Pension FundContinue…
The European Insurance and Occupational Pensions Authority (EIOPA) published the results of its climate stress test of European Institutions for Occupational Retirement Provisions (IORPs). In the first climate stress test of the sector, EIOPA set out to assess the resilience of IORPs against a climate change scenario that simulates a sudden,Continue…
New research from the International Forum of Sovereign Wealth Funds reveals how sovereign wealth funds are thinking about the social dimension – the S pillar – of environmental, social and governance (ESG). Over the past three years, more sovereign wealth funds have been working to integrate environmental, social and governanceContinue…
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, is seeking input on draft guidelines on the use in funds’ names of ESG or sustainability-related terms. Funds’ names are a powerful marketing tool. In order not to mislead investors, ESMA believes that ESG- and sustainability-related terms in funds’ namesContinue…
The International Capital Market Association (ICMA) has published a new Climate Resilient Debt Clauses (CRDCs) which can defer a country’s debt repayments in the event of a pre-defined, severe climate shock or natural disaster. A standardised term sheet for this has been produced by the UK-convened Private Sector Working Group (PSWG): sub-group onContinue…
Amundi SA is removing the European Union’s highest ESG designation from virtually all funds that once carried it, as it joins a growing list of investment firms that have been wrong-footed by a change in regulatory guidelines in the bloc. Amundi is downgrading ‘almost all’ funds with EU’s top ESGContinue…
