More institutional investors putting money on ESG – Pensions & Investments

ESG investing is growing in the U.S. among institutional investors, with issues such as climate change, gender diversity and weapons distribution garnering significant attention.Institutional assets invested under environmental, social and governance principles in the U.S. totaled $4.73 trillion at the start of 2016, a 16.9% increase from 2014, according to the U.S. SIF Foundation, Washington,…

Why we’re all impact investors now | Chicago Booth Review

For nearly 50 years, many have been guided by the idea, laid out most famously by Milton Friedman, that the most appropriate way to create social change is to give profits to investors, and taxes to the government, and use that money to make an impact. For just as long, other investors have argued in…

SSGA’s Kumar warns companies on ESG progress | Corporate Secretary

Rakhi Kumar, global head of asset stewardship and ESG with State Street Global Advisors (SSGA), has warned that her firm’s patience is running out with portfolio companies that aren’t heeding the asset manger’s warnings on topics such as board diversity, refreshment and climate change.‘Given that we started talking about some of these issues in 2011,…

Fake Front Group ACCF Clutches Its Pearls Over “Inconsistent” ESG Ratings

The American Council on Capital Formation, the equally fake front group affiliate of the Main Street Investors Coalition (funded by the same corporate sources, led by the same energy lobbyist) is upset because ESG ratings are “inconsistent.” We found a system that is fraught with problems, from inconsistent metrics, to ratings which continually fail to…

EY: “We Can’t Afford to Remain Silent” on ESG

“We don’t want to be outside the room complaining.” Mark Weinberger, chairman and CEO of global professional services firm Ernst & Young, explains to Fortune why it is vital for business leaders to be engaged with clients, government, and each other on issues like human rights and climate change. “If you remain silent when important…

Brett Kavanaugh: Casting a Shadow over SRI Investing? | Journal of Political Risk

Given the relative importance of administrative agency rule changes to SRI investing, the SRI investing sector should be concerned by President Trump’s nomination of Brett Kavanaugh.  Like Neil Gorsuch, Brett Kavanaugh opposes the Chevron deference, the doctrine that requires judges to defer to administrative agencies’ interpretations of federal law where the law is ambiguous and…

US SIF: Sustainable, Responsible, and Impact Investing Trends Report

US SIF has published a new report on sustainable, responsible, and impact investing trends, noting a one-third increase: The demand for sustainable and impact investing is growing—investors now consider environmental, social and governance (ESG) factors across $8.72 trillion of professionally managed assets, a 33 percent increase since 2014. Money managers and institutional investors are scrutinizing…

Exxon Must Face Class-Action Suit Over Climate-Change Accounting – Bloomberg

Bloomberg reports: Exxon Mobil Corp. must face a lawsuit by investors who blamed a drop in the company’s shares on the disclosure that regulators were scrutinizing its reserve accounting related to climate change. U.S. District Judge Ed Kinkeade on Tuesday denied Exxon’s bid to dismiss the suit. Kinkeade wrote that the Greater Pennsylvania Carpenters Pension…

Will the Left Get Fooled Into Abandoning Worker Pensions?

A very important piece by David Webber: In the past decade, one of the few hopeful developments in an often bleak labor landscape has been the rise of a new form of activism built on the power of labor’s $3.5 trillion pensions. A new class of activists at the AFL-CIO Office of Investment, the American…