Agenda – Boards Boast New Directors’ ESG Expertise

“This year there has been an explosion in terms of formal and informal discussions around the boardroom and ESG,” says Scott Atkinson, partner at Heidrick & Struggles and cohead of its sustainability office. “It [has] definitely been a year where we have been sought out to talk about who might be the additional board member…

Sustainable Investing Outperforms During Coronavirus | Morgan Stanley

Highlights of the new Morgan Stanley report on ESG investing: In 2020: U.S. sustainable equity funds outperformed their traditional peer funds by a median total return of 4.3%. U.S. sustainable bond funds outperformed their traditional peer funds by a median total return of 0.9%. U.S. sustainable equity funds’ median downside deviation was 3.1% less than…

ESG and the Biden Presidency

In a dramatic change from the previous administration, we expect the administration of President Joseph Biden to implement a broad range of policy changes meant to mitigate climate risk and bring the US back into the global sustainability conversation. We will be monitoring several themes that we believe could arise under the Biden presidency: Rising…

Chevron’s Climate Lobbying Report is a Joke – The Brick House Cooperative

Sludge’s Donald Shaw calls Chevron’s report on lobbying expenditures in response to majority vote on a shareholder proposal greenwashing.. Earlier this week, Chevron quietly released its climate lobbying report. In it, the company lists its affiliations with many of the largest fossil fuel industry lobbying groups in the world and then tries to spin each…

UN report puts climate change at heart of insurance risk assessment

A report produced by the United Nations (UN) in collaboration with 22 major insurance firms has suggested that the insurance industry needs to adopt an integrated approach in order to manage future climate change risk. The final report of the UN’s Environment Programme’s Principles for Sustainable Insurance Initiative, which aims to pilot recommendations from the…

Companies sign up for new ESG stakeholder metrics | Corporate Secretary

Dozens of business leaders this week committed their organizations to using a new set of ESG-related metrics and disclosures developed in collaboration with the Big Four accounting firms. The 61 signatories, revealed at the World Economic Forum’s Davos conference, will start using ‘stakeholder capitalism metrics’ as an initiative intended to speed up convergence among the…

On fund flows, defining ESG funds, BlackRock, and the loss of an SRI pioneer

John Hale writes about the increase in ESG investing: We put out our Morningstar “Global Sustainable Funds Flows Report” this week, authored by my London colleagues Hortense Bioy and Elizabeth Stuart. Here are the key takeaways: Driven by increased investor interest in ESG issues and sustainable investing, sustainable funds notched a record-breaking quarter in terms…

British Hedge Fund Billionaire Takes Climate Fight to S&P 500 – WSJ

A billionaire hedge-fund manager is bankrolling an unprecedented campaign to force dozens of the world’s largest companies to publish carbon-emission reduction plans and put them up for shareholder vote. Frustrated by the pace at which corporations are cutting emissions, Christopher Hohn is backing a global effort to speed things up. He is working with nonprofit…

State Street Moves Forward on Climate Change| Skadden, Arps, Slate, Meagher & Flom LLP

State Street has expressed its belief that “the COVID-19 crisis accelerates the need for transformative change to address climate change” and that it will continue to “encourage companies to disclose how they are addressing both climate risks and opportunities through engagement and voting on shareholder proposals.” In addition, State Street recently became a member of…