Private equity (PE) is well placed to lead sustainable investing. The industry is large – so large that society won’t be able to tackle the climate crisis and other major challenges without the active participation of PE firms and their portfolio companies. In the last 15 years, the industry has been a steadily growing area…
Anti-ESG group launches mobile billboard campaign in DC ahead of expected Biden veto | The Hill
It is infuriating to see a mainstream news organization publish a story like this, calling Consumers’ Research “an advocacy group,” failing to mention that this was a once-reputable organization (though disputes in the 30s over unions led some of the founders to split off and start Consumers Report). It was purchased by an ultra-right wing…
Anti-ESG movement dials up the drama in the US – Capital Monitor
It was announced last month that the Indiana Public Retirement System could lose $6.7bn over ten years in reduced investment returns if it implements a bill barring the fund from investing with managers that use ESG. “And now we’re seeing a reaction to the reaction in states like Indiana and many other ‘reddish’ states where…
Beware, The Culture Warriors Have New Strawmen: Dangers of “ESG” and “Woke Capitalism” | Sustainability Update
New threats to ESG detected in America’s Red-controlled states: The internal culture wars now include an unlikely frontal assault on the alleged “dangers” posed to institutional investors (state and city pension funds and the states; public financing) by professional asset managers who embrace sustainable investing approaches and who factor ESG analysis for their portfolio decision-making…
Agenda – ‘Fertile Soil’ for Activism Drives Rise in Proxy Fights
The deadline for dissidents to throw director candidates in the ring is looming for companies with spring annual meetings. Investors are intending to nominate opposing board candidates and have launched a flurry of proxy battles as companies work to resolve demands behind the scenes. Indeed, between Jan. 1 and Feb. 22 this year, activists announced…
Republicans attack “woke banks” to remind you they’re a party of hate
The GOP’s response to the failure of Silicon Valley Bank has been to try to paint the halls of finance as a bastion of decadent leftism, and themselves as virile populists fighting for the virtuous little guy. It’s a particularly naked example of the socialism of fools — the effort to frame capitalism’s cruelties as…
How CFOs further value creation by leading on sustainability | PwC
CFO leadership of sustainability initiatives is crucial for long-term value creation—as well as for ESG objectives. It starts with fundamentals: many CFOs are already fielding questions from investors, and most companies can expect to face a barrage of reporting and compliance requirements in the coming years. Here is where they can build trust among stakeholders,…
The danger in the Republican anti-woke response to SVB’s collapse
It’s just like blaming every celebrity’s health challenge on the vaccine. It’s also like the humbug Wizard of Oz desperately telling Dorothy to pay no attention to the man behind the curtain. With not even the tiniest molecule of evidence or documentation, right-wing zealots are blaming corporate failures on diversity initiatives and “woke” strategies disconnected…
Tesla, Cisco, Amazon, Intel among firms lacking Latino directors – Los Angeles Times
Latinos are the nation’s largest ethnic or racial minority — accounting for 18.9% of the population — and its fastest-growing group. In California, 40% of residents trace their roots to Mexico or Central or South America. Yet even as companies tout their commitment to diversity, equity and inclusion, Latinos are far less likely to ascend…
UK pension funds target BP and Shell directors over climate goals- FT | Reuters
Two of the UK’s largest pension schemes will vote against the renewal of top directors at BP Plc (BP.L) and Shell Plc (SHEL.L) at their annual meetings unless both companies strengthen commitments to tackling carbon emissions, the Financial Times reported on Sunday. The plan by Britain’s Universities Superannuation Scheme (USS) and Borders to Coast, which…
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