Conference organisers

·       Bloomberg Intelligence’s FICC Focus podcast series, Credit Crunch, featured Patrick Drum, portfolio manager of the Amana Participation Fund, on April 20, 2026, discussing the sukuk market. The episode is titled Credit Crunch: Saturna’s Drum on Sukuk Growth, Geopolitical Risk

GCC Sukuk: A Primer, 4^th  Edition. This white paper aims to educate investors about the U.S. dollar sukuk market, an asset class that remains largely unfamiliar to many investors yet has demonstrated some of the highest risk-adjusted returns across multiple time periods among developed- and emerging-market fixed-income benchmarks. U.S. dollar sukuk are income-producing securities that comply with Shariah principles. This primer provides a comprehensive overview of the investment characteristics and market landscape of U.S. dollar sukuk, including an analysis of their return, risk, and correlation profile, while also explaining some of the factors that contribute to their stability and resilience

EOS at Federated Hermes Limited publishes 2025 Annual Review, with full engagement and voting highlights.

In 2026, investor stewardship will need to increasingly focus on systemic economic risks and opportunities alongside the financial performance of individual investments. Universal owners are widely invested in the economy, with long-term investment horizons, so absolute returns matter. Indeed, it’s arguable that the performance of the benchmark can be of greater value than relative returns.

With this in mind, we believe that stewardship needs to extend beyond engagement with companies to include policy and market best practice engagement, to help address systemic risks. When carried out effectively, this will provide the policy and industry environment in which companies can grasp the opportunities that new market trends afford. This will help to preserve long-term value for our clients, and their beneficiaries.

The explosive growth of artificial intelligence (AI) has presented investors with both extraordinary opportunity and material risk since it burst onto the mainstream in the early 2020s.

It has streamlined workflows, automated tasks and, in many cases, posed a direct threat to entire industries and workforces. But, for those looking to actively participate in the AI revolution while still protecting portfolios from its power of “creative destruction,” we believe there is one sector that sits in a genuinely unique position: health care – and biotech in particular.

Unlike other industries facing displacement, biotech is being amplified by AI, not replaced by it. In our view, AI‑driven innovation, the sector’s defensive characteristics, and rate‑sensitive upside places biotech at the center of a compelling opportunity that lets investors play both offense and defense.

At a glance:

• Over $34 billion of private capital flowed into robotics-related companies in 2025 – more than twice that of 2024.¹ Yet some of the best-funded companies are still in the early stages of commercialisation, with scaled deployments years away.
• Physical world foundation models, which include both vision language action and world models, are emerging as the next frontier of artificial intelligence, but data remains a critical bottleneck.
• We see investment opportunities in robotic hardware and the software ‘picks and shovels’ of physical AI, including companies providing data, testing infrastructure and simulation tools.

In this report we outline the ways in which, in the most recent calendar year, we have implemented the principles of the UK Stewardship Code as signatories.

A New Paradigm

In many respects, ESG does not appear to be shrinking at all. Instead, it may be evolving from a thematic investment trend into something much more deeply embedded within mainstream finance and corporate operations.

For anyone following headlines around ESG over the past two years, the narrative can sometimes feel contradictory. Political backlash in parts of the US, fund outflows from some labelled ESG products, and a visible retreat from explicit “ESG” branding have all contributed to a perception that the sustainability market may be slowing down. Yet for many professionals working in and around the sector, the lived experience feels very different. The volume of reports, commentary, data products, conferences, hiring activity and specialist services continues to grow at an extraordinary pace.

The ESG Ecosystem Is Expanding

One of the clearest signs of this is the sheer expansion of the surrounding ecosystem. Five years ago, the market for sustainability-related services was relatively narrow. Today there are hundreds of firms focused on climate analytics, carbon accounting, biodiversity data, supply-chain monitoring, transition finance, ESG software, reporting automation and regulatory compliance. Artificial intelligence is accelerating this trend further, with a growing number of providers offering AI-enabled CSRD mapping, sustainability data extraction, disclosure drafting and ESG research tools.

At the same time, sustainability responsibilities are increasingly being integrated into core business functions rather than sitting inside standalone ESG teams. Climate and sustainability reporting now routinely appear inside annual reports and financial filings. Banks are embedding transition finance specialists inside investment banking and corporate lending teams. Asset managers are integrating stewardship, climate risk and sustainability analysis into broader investment processes. In many organisations, ESG has become less of a separate initiative and more of an operating framework.

Reporting and Content Volumes Continue to Grow

The explosion in content and reporting also suggests a market that is still expanding structurally. Asset managers, banks, consultants, accounting firms, law firms and data providers now publish a constant stream of sustainability commentary, stewardship reports, climate transition papers, biodiversity research and regulatory analysis. What once felt like a specialist niche increasingly resembles part of the normal information infrastructure of global finance.

Importantly, much of this activity is now being driven by regulation and operational requirements rather than purely by marketing demand. Frameworks such as CSRD, ISSB, SFDR and TNFD have created large-scale reporting and compliance obligations that require companies to build systems, hire specialists and invest in data capabilities. Even firms that have become more cautious around the term “ESG” are often increasing investment in climate risk, sustainability reporting and transition planning behind the scenes.

ESG May Be Maturing Rather Than Retreating

The language itself is also changing. Rather than talking exclusively about ESG, firms now refer to transition finance, resilience, climate strategy, sustainable infrastructure, stewardship, human capital or corporate sustainability. In some cases, the terminology has softened while the underlying activity has become more sophisticated and institutionalised.

This may explain why there can appear to be a disconnect between media narratives and day-to-day market reality. The highly visible “ESG boom” phase of the early 2020s may have peaked, but what has followed looks less like collapse and more like industrialisation. Sustainability has moved deeper into the plumbing of finance, regulation and corporate reporting.

For professionals who spend their days reading sustainability research, fund commentary and corporate reporting, the sense that ESG remains highly active is therefore not imagined. If anything, the market today appears broader, more operationally embedded and more information-rich than at any point in its history.

Key Takeaways

• ESG activity appears to be evolving rather than disappearing.
• The sustainability ecosystem now includes far more data, software and AI-enabled providers.
• ESG responsibilities are increasingly embedded into mainstream finance and operations.
• Sustainability reporting and commentary volumes continue to grow rapidly.
• Regulation has created durable long-term demand for ESG infrastructure and services.
• The terminology may be changing, but the underlying market activity remains substantial.

Recent ESG / Sustainable Finance Leadership Moves (2026)

• Sindhu Krishna appointed UK Head of Sustainability, Investment Consulting at Aon (March 2026). Krishna previously held senior sustainable investing roles at Cardano and is known for work on climate-aware investment strategy and stewardship.
• Holly Turner promoted to Head of Sustainable Investments at Schroders Capital (February 2026). Turner now oversees sustainability integration across Schroders Capital’s private markets businesses including infrastructure, real estate and private debt.
• Maud Pierre-Minuit appointed Head of Sustainable Transitions at Ostrum Asset Management (April 2026). The role focuses on transition investing strategy and ESG integration across investment activities.
• Chaoni Huang appointed Head of Sustainable Finance & Transition, Asia at HSBC (January 2026). Huang joined from BNP Paribas and leads transition finance and decarbonisation advisory work across the region.
• Denise Odaro appointed to lead sustainable finance transition activities for Europe and the Americas at HSBC (March 2026). The role supports corporate and institutional clients on transition and climate financing initiatives.
• Lauren Smart appointed Global Head of Sustainable Finance at Bloomberg (February 2026). Smart previously led Sustainable1 at S&P Global and is well known in climate analytics and ESG data.
• Kelvin Wong appointed Chief Sustainability Officer at DBS Bank (April 2026). Wong oversees DBS’s sustainability and transition agenda including sustainable finance and operational climate targets.
• Esra Turk appointed Global Head of Sustainable Finance within Deutsche Bank’s Investment Bank (2026). The role sits within investment banking coverage and focuses on sustainable finance origination and client solutions.

The sustainability sector stands at a crossroads. While climate urgency intensifies and regulatory frameworks expand globally, the employment landscape for environmental management professionals has undergone significant recalibration. Understanding these dynamics and positioning yourself strategically has never been more critical for those pursuing or advancing in sustainability careers.

Sustainability statement from p50

Sustainability statement from p64

In our Annual Report, you can find our statutory sustainability statement, which provides information on our sustainability performance. In addition, you can find detailed and segmented data in our Sustainability Fact Book and in our annual Climate Progress Report you can see latest information on climate targets and results. 

Published Corporate Governance & Engagement Report 2025 in May 2026 plus Climate & Nature Report 2025

Q1 2026 Sustainable Investment Review published Apr 2026 with active ownership/stewardship themes

Published 2025 annual reporting in Feb 2026 incl. sustainability progress and financed emissions updates

AP3 here

AP2 here (AR, stewardship from p24)

Critical minerals have emerged as strategic assets at the heart of economic and national security. With demand surging for resources like lithium, cobalt and rare earth elements, global leaders are rethinking how they source, secure and invest in these vital materials.

Here, we examine the pivotal role of critical minerals in powering the future and how their supply chains are evolving.

Key takeaways

• Volatile oil prices and surging electricity demand highlight the urgent need for a diversified energy mix to safeguard economic and energy security.
• The need for diversified energy sources is rapidly reshaping global power generation. Renewables and advanced technologies are projected to supply the majority of global electricity by 2100.
• Overall, increased global investment in renewables, including nuclear, solar and wind, is paving the way for a more stable and resilient future.

Twenty years since the PRI was founded, responsible investment is at a pivotal point. To better understand how the future of responsible investing might look, the PRI launched the Future of Responsible Investing (FoRI) project.

Central to this project was the establishment of the Future of Responsible Investing Asset Owners group in 2025, composed of senior executives from 20 leading asset owner institutions around the world, alongside five former PRI Board members. 

Sitting at the top of the investment chain, asset owners are ideally positioned to define where to take responsible investing next. Furthermore, asset owners are not external to the system; rather, they are deeply embedded within it, interacting continuously with beneficiaries, managers, service providers, policy makers and other market participants.  

This paper summarises the final conclusions of these efforts. It reflects the PRI’s understanding of the key outcomes and recommendations of the FoRI project, which in total incorporated insights from 120 organisations. 

"In the IMCO World View 2026, we assess whether recent developments are consistent with each theme or implication's momentum accelerating, decelerating or remaining stable. We also consider whether the developments underlying a change in momentum warrant a reconsideration of the trend's validity. This evaluation is a cumulative process that assigns more weight to momentum assessments that persist for several years. For each theme, we discuss what we're monitoring. For each implication, we discuss potential investor actions.

Importantly, an assessment of slowing momentum does not mean that we see the Theme or Implication fading away."

Sustainable investment (or responsible investment) is now a mainstream investment practice. Many large institutional investors have made commitments to sustainable investment and have taken action (e.g. company engagement, participation in collaborative initiatives, analysis of the investment implications of social, environmental and governance issues) to implement these commitments. 

This mainstreaming of sustainable investment raises many important questions, such as:

·       Does sustainable investment deliver meaningful real-world change?

·       Are fears about greenwashing justified?

·       Does sustainable investment deliver better financial outcomes?

·       Is sustainable investment consistent with investors’ fiduciary duties?

·       Can the sustainability data and ratings used in finance be trusted?

·       Does sustainability information drive improved sustainability performance?

·       What are the roles and responsibilities of public and private actors?

A new book, Key Debates in Sustainable Investment (edited by Dr Rory Sullivan and Dr Richard Perkins) examines these and other critical questions around sustainable investment. It examines the transformative potential of sustainable investment, and describes the contribution that investors have made to improving the practices and performance of corporate and sovereign investors, the financial relevance of environmental, social and governance issues to investors, and the financial, legal and commercial arguments for investors to take account of these issues in their investment practices and processes.

The book also highlights the challenges and realities of sustainable investment, including perverse incentives, short investment timeframes and the legal impediments to action. In setting out the case for and against sustainable investment, the book provides policymakers, investors, companies, civil society organisations and academics with the analytical tools and insights they need to engage in a more informed discussion about the contribution that sustainable investment can make to sustainability goals.

 NOTES

• Key Debates in Sustainable Investment, edited by Dr Rory Sullivan and Dr Richard Perkins, is available via here
• Key Debates in Sustainable Investment is edited by Dr Rory Sullivan (CEO of Chronos Sustainability and Visiting Professor in Practice in the Department of Geography and Environment at the London School of Economics and Political Science (LSE)) and Dr Richard Perkins (Associate Professor in the Department of Geography and Environment at the LSE). The book includes contributions from academics, LSE students and industry practitioners (including practitioners from AP7, BNP Paribas Asset Management, CCLA Investment Management, Standard Life, The Transition Pathway Initiative and UNFCCC).

Companies are leaving the shareholder-aligned—or at least well-defined—confines of Delaware for the corporate-friendly open plains of Texas. Recent reforms to the Texas Business Organizations Code (TBOC), along with the 2024 launch of the specialized Texas Business Court, have attracted a wave of companies to propose redomiciling in the Lone Star State. The concern among institutional investors is what rights are they losing to hold boards accountable in the Texas shuffle.

ArcBest saw two-thirds shareholder approval for its redomicile proposal in April, while Texas Capital Bancshares narrowly experienced defeat. ExxonMobil has its proposal going to a shareholder vote later this month, along with a number of other companies this season, including Dell Technologies.

Taking a page from Six Flags amusement park - named after the six sovereign flags that have flown over Texas - Canbury Insights’ ProxyPro platform uses a six-flag assessment for scoring companies on their redomicile proposals. The ride can be thrilling or terrifying, depending on where you are sitting.

Please note that this is absolutely, positively not voting advice, nor investment advice, but definitely not voting advice. You read beyond this point at your own risk and with clear understanding that this is not voting advice.

Making societal value creation & destruction visible? Yes, we can!!🚀
 
In a cooperation between ftrprf, Rotterdam School of Management, Erasmus University and Nyenrode Business University, we estimated the integrated value (social+ environmental+financial value) of Dutch and German listed companies. The resulting futureproofing ratios (integrated value/financial value) gave the ranking in the below picture.
 
But more important than the ranking are the insights💡 & follow-up questions provided:
·      What are the sources of value creation & destruction for society? 🤷
·      What are their sizes? 🧮
·      How can they be mitigated? 🚵‍♀️
·      What companies have a competitive edge & why? 🚦
·      What are the implications for business model change? 💥
 
In our business school classes we ask these questions, diving into individual companies with integrated valuation models that value social and environmental issues with DCF just like we estimate financial value - please DM me if you want to know more.

"When I talk to retail investors, I am surprised by how often I hear claims that investing in a green fund or green stocks reduces greenhouse gas emissions. Newsflash: It doesn’t. ESG investing reduces the risk of an investment being caught in a scandal or an environmental accident, etc., but it does nothing to incentivise a company to reduce its greenhouse gas emissions, for example. For that, engagement is needed, and retail investors simply don’t have the leverage to influence corporate decisions.

But there is one group of companies that seems to benefit from the misguided belief among retail investors that ESG investments help reduce greenhouse gas emissions: asset management firms offering ESG funds...."

"Our Annual Report 2025 offers a holistic view of the business performance of Deutsche Börse Group. You can access all contents of the Annual Report 2025 via this page.

The finance sector talks about a nature-positive transition, but actual money flows don’t match the rhetoric. Nature-negative finance dwarfs investments to protect and restore nature: for every $1 invested $30 are spent on activities degrading it. 

What would it take to reverse these flows? What structures and incentives do we need to create? In April 2026, as part of the Marmalade Festival and Skoll World Forum, we brought together leading experts and thinkers to tackle these thorny questions.

Here are a few of the insights and interventions offered at the event – and to hear it in full, download the Global Canopy podcast.

Global Canopy’s 12th annual Forest 500 report, Data shows regulation drives action, reveals that the incoming EU Deforestation Regulation (EUDR) has already shaped business expectations, galvanised investment and driven supply chain action by some of the world’s most influential companies – even before its implementation.

• Avoided emissions (AE) offer an opportunity‑oriented complement to today’s risk‑focused climate assessments by highlighting the broader decarbonization potential of portfolios.  

• To derive AE metrics that investors can rely on, it is essential to have a consistent allocation approach to producing AE estimates that represent distinct, non‑overlapping contributions. 

• Although physical‑activity‑based methods are preferred by the Partnership for Carbon Accounting Financials (PCAF), economic-intensity-based methods may be better suited to support allocation of AE along the value chain. Economic intensity-based methods can reduce greenwashing risk and support opportunity-driven capital allocation toward real‑economy decarbonization. 

• A comparison of AE estimates, with and without allocation, for solar utilities shows the inflated AE estimates that can arise without allocation.  

They discuss natural disasters, climate risk, and why losses are rising as more people and assets move into high-risk areas. Berger explains how Swiss Re uses data and technology to understand risk, prevent damage, and decide what can — and cannot — be insured. They also touch on cyber risk, AI, leadership, and how to make decisions in an uncertain world.

There is a new narrative taking shape in sustainable finance. ESG is no longer being attacked only as “ideological” or “return-destroying.” Instead, the language has softened. The focus now is on simplification.

At face value, that sounds reasonable. ESG reporting has become complex, sometimes duplicative, and not always decision-useful. Even strong supporters of sustainable finance would agree that parts of the system need refinement.

But something more subtle is happening beneath this shift in tone.

What is being framed as simplification risks becoming a gradual rollback of accountability.

Insights from SustainoMetric’s Assessment Across 50 Companies 

Artificial intelligence has quickly moved from being an experimental capability to a core layer in ESG analysis. As discussed in the previous article, AI excels at extracting structured disclosures, identifying policies, and processing quantitative datasets at scale. It has materially improved the speed, consistency, and scalability of ESG research. 

But ESG analysis is not a data extraction problem. It is fundamentally a contextual judgment problem, one that requires interpreting intent, validating credibility, and assessing whether disclosures are decision-useful.  And this is where, after years of working at the intersection of AI systems and ESG frameworks, a consistent limitation becomes evident: 

AI does not struggle with finding data; it struggles with understanding it. 

"The wind industry quietly recorded another year of record installations in 2025. While other generation technologies such as solar and nuclear have dominated headlines in recent years, the wind industry has quietly been gathering momentum. With strengthening demand drivers, long-term political support in Europe and China, and attractive long-term economics, we believe that wind adoption will continue to grow."

First quarter 2026

For year ended 31 December 2025

Whilst Legal & General Group plc set to put its climate plan to a shareholder vote on 21 May, the FIR, in collaboration with ADEME, the World Benchmarking Alliance and the Ethos Foundation, provides an analysis of the plan.

The analysis is divided in two parts:

• the first assesses the plan’s transparency using the FIR methodology, whilst
• the second evaluates the company’s performance using ADEME’s ACT methodology.

To find out about the company’s results, how they compare with last year’s figures, and areas for improvement, please take a look at its analysis sheet.

Whilst Vallourec set to put its climate plan to a shareholder vote on 21 May, the FIR, in collaboration with ADEME, the World Benchmarking Alliance and the Ethos Foundation, provides an analysis of the plan.

The analysis is divided in two parts:

• the first assesses the plan’s transparency using the FIR methodology, whilst
• the second evaluates the company’s performance using ADEME’s ACT methodology.

To find out about the company’s results, how they compare with last year’s figures, and areas for improvement, please take a look at its analysis sheet.

"‘Reference narratives’ are beliefs that spread contagiously “go viral”, self-reinforce. But what if the narratives shaping sustainable finance don’t fully reflect reality?

The latest thoughtful, jazzy episode of The Transition Tapes is called: The power of ‘Reference Narratives’: How the stories we tell about sustainable finance and the way we test the truth/reality of those narratives is fundamental to progress.

In this episode, I chat with Harald Walkate, Advisor on Financing Sustainability & Blended Finance: Route17 and Senior Advisor Blended Finance Lab at the LSE.

We cover:

• Why certain narratives dominate sustainable finance
• The gap between market-led thinking and policy reality
• Whether current approaches are set up to deliver real impact
• What needs to change for the transition to actually work"

===

Listen:

• via Spotify
• via Apple

Clarity Turns Conviction into Competitive Edge

"The landscape of responsible investment has entered a new and more demanding phase.  One that rewards clarity above all else. The debate has moved on from questioning the meaning of sustainability, to questioning 
whether it is practised intentionally and from within. If so, what is the intent? Regulatory pressure, performance disappointments, and political backlash have exposed the difference between asset managers for whom responsible investment is a genuine part of who they are, and those for whom it was always a posture.

That difference is now more visible to clients, to regulators, and to the market. Naming it, measuring it, and acting on it is precisely what RIBI 2026 is for."

Airbnb’s proxy out last week saw it strip out all of its “stakeholder” metrics for 2026 to focus on just revenue growth and margins in its short-term executive pay. It is reflective of the trend to simplify pay plans, scrub what seems ESG-related, and focus on financials — especially for companies where share performance has lagged behind. While including sustainability metrics may have signaled a company’s “purpose,” Airbnb execs earning perfect 100% scores on every category in 2025 and near-perfect in 2024 also shows how easy it is to game the goals.

Placing this in context, so far 80 of the S&P 100 have issued a 2026 proxy. From this, certain trends are emerging — and they point in a consistent direction.

There remain challenges for sustainable investing, but we retain our unwavering commitment to drive change, as investors continue to adopt a more pragmatic approach. That’s the key message that Robeco again has for investors as we publish our annual Stewardship Report highlighting our sustainability and active ownership activities in 2025.

The report showcases how we progressed on our targets, delivered on our strategic priorities and managed our impact in 2025. Over the course of the year, we:

• continued to prioritise and progress efforts to achieve the elimination of work-related fatalities and serious injuries in our business;
• maintained our rigorous and transparent approach to tailings management, progressing conformance with the Global Industry Standard on Tailings Management and significantly increasing our disclosure;
• continued to embed our Social Contribution Framework, strengthening how we respond to local needs and deliver meaningful and lasting benefits in the countries and communities that host our operations, contributing $112 million in direct social contribution last year, with most of that investment directed towards enabling resilient communities and supporting infrastructure and energy transition projects;
• advanced our nature strategy, with sites in scope of our no net loss of biodiversity methodology developing plans that support our goal to seek opportunities to achieve no net loss of biodiversity by completion of closure; and
• strengthened our closure planning, developing plans for several of the industrial assets that we plan to close within the next five to ten years.

Report focus

This report focuses on:

• The fifth edition of Asset Management One's annual sustainability report, framed around three priority engagement areas — climate change, biodiversity and human rights — derived from a medium- to long-term roadmap targeting globally aligned governance practice by 2030.
• Evolution toward more effective stewardship: net-zero engagement using NZIF/PAII methodology, a TNFD-LEAP review of Japanese equities, expansion of impact investing, and a new institutional impact fund planned within the fiscal year.
• Holding the firm's long-term sustainability course despite NZBA/NZAM and DE&I retreat in the US following the Trump inauguration, and easing of EU CSRD requirements.

Sustainability issues in focus

The following sustainability issues feature significantly within this report:

• Climate change
• Biodiversity / natural capital
• Human rights
• Human capital / DE&I
• Capital efficiency / governance
• Circular economy

Sectors in focus

The following sectors feature significantly within this report:

• Banks
• Chemicals
• Construction
• Food, Beverage & Tobacco
• Electric Utilities
• Oil & Gas

Engagement highlights

Engagement practices and outcomes featured within the report include:

• 2,215 engagement activities with 718 Japanese companies; ESG topics accounted for 73% of dialogue, with board / corporate governance the single largest theme at 398 engagements.
• Capital-efficiency engagement scaled sharply post-TSE's March 2023 directive: 257 sessions across 167 companies in FY2024, including dialogue with c.70% of regional-bank TOPIX constituents.
• Net-zero assessment of 595 Japanese companies under NZIF found 155 (c.26%) net-zero aligned in FY2025, up from 49 in FY2022.
• Five-year cumulative engagement record: nearly 500 issues resolved across the eight-stage milestone framework, weighted toward governance / disclosure and environmental themes.
• Voting on Japanese equities: 20,039 company-proposal items voted (94.5% supported); director votes informed by ROE and cross-shareholding criteria, with escalation through opposition until cross-shareholdings reduced.
• Overseas engagement (Jul 2024 – Jun 2025): 365 cases via in-house London / Tokyo / NY teams plus EOS at Federated Hermes; weighted to environmental themes (537 cases) and North America (157 companies).

Other highlights

In addition to the points noted above, this report addresses:

• Avoided emissions – Asset Management One commits to incorporating avoided-emissions discussion into engagement as an opportunity-side complement to Scope 1-3 reporting.
• TNFD-LEAP analysis – c.26% of Japanese-equity exposure shows high / very high dependence on at least one ecosystem service; c.35% exerts high / very high pressure on at least one impact driver.
• IPCC AR7 – Senior Sustainability Scientist Kanako Tanaka has been selected as a Lead Author for the IPCC Seventh Assessment Report (2028–2029).
• Hagukumu Investment Plus – new scheme launched February 2025 channels a portion of trust fees from sustainable-investment products into organisations working on the firm's materiality topics.

Report parameters

• Publication date: Not clear
• Period covered: From 01-07-2024 to 30-06-2025

[Selected by Mike (54) | Summarised by Opus 4.7 | Human-directed; AI-powered]

Report focus

This report focuses on:

• RBC BlueBay frames 2026 as a pivot from regulatory uncertainty to implementation, with CBAM, SFDR 2.0, EUDR and the corporate-reporting omnibus packages reshaping how European sustainability intersects with competitiveness and Draghi-style reform.
• Bottom-up, materiality-led integration: RBC BlueBay rejects one-size-fits-all ESG and uses proprietary scoring across Operational Quality, Competitive Advantages and Material Issue Management.
• Grid infrastructure modernisation is positioned at the centre of the European transition narrative, citing the April 2025 Iberian blackout, the EUR 1.2 trillion European Grids Package and AI-driven data-centre demand as catalysts.

Sustainability issues in focus

The following sustainability issues feature significantly within this report:

• Climate transition / decarbonisation
• Grid infrastructure & energy security
• Carbon pricing (CBAM)
• Sustainable finance regulation (SFDR 2.0)
• Deforestation (EUDR)
• Human capital & health and safety

Sectors in focus

The following sectors feature significantly within this report:

• Industrials
• Utilities
• Materials
• Healthcare
• Technology
• Financials

Engagement highlights

Engagement practices and outcomes featured within the report include:

• Proxy voting: 2,000+ ballot items voted in 2025; 93.18% with management, 6.82% against — consistent with prior years and the team's quality-bias philosophy.
• Holcim engagement on cement decarbonisation: 1% p.a. emissions cut from alternative fuels plus 1% p.a. from clinker reduction; first net-zero cement targeted for 2028.
• ASML engagement on talent: 16,000+ R&D staff, 40% non-Dutch workforce in the Netherlands, attrition reduced to 4% — focused on retention and inclusive culture.
• Technip Energies engagement: more carbon-capture project awards in 2024 than LNG; flagship Net Zero Teesside CCUS project; sustainable aviation fuel viewed as mainstream-bound.
• Invisio engagement on military hearing protection: technology delivering up to 40 dB dampening, addressing the USD 3-5 billion p.a. US veteran hearing-loss bill.
• IMI engagement on cyber resilience following 2025 attack: GBP 20-25 million one-off cost, ~1% growth impact, 10-day downtime — review of segmentation and SSO architecture.

Other highlights

In addition to the points noted above, this report addresses:

• Grid thematic case study – RBC BlueBay highlights Siemens Energy, Prysmian, Schneider Electric and Iberdrola as portfolio names positioned to benefit from European grid modernisation.
• Carbon analytics – portfolio shows lower carbon intensity than MSCI Europe on most metrics but not on weighted-average carbon intensity, with a slight ESG-score edge versus peers (7.89 vs 7.80).
• Podcast feature with Rob West (Thunder Said Energy) – RBC BlueBay frames a shift from idealistic decarbonisation to competitive decarbonisation centred on energy security.
• 'La Dolce Vita' article on Humanistic Capitalism – RBC BlueBay analyst Robert Clarke uses Wise and Brunello Cucinelli as case studies for stakeholder-led models amid declining ESG terminology.

Report parameters

• Publication date: 01-02-2026
• Period covered: From 01-01-2025 to 31-12-2025

[Selected by Mike (54) | Summarised by Opus 4.7 | Human-directed; AI-powered]

Please be aware that interviews are provisionally scheduled to take place during the week commencing 18th May 2026. Applications received after this date may not be considered but will be added to our talent pool for future opportunities, subject to your consent.

LGPS Central (LGPSC) Ltd is the FCA regulated asset manager for eight local authority pension funds across the Midlands.

Location Hybrid · London, UK

Team - Ri Solutions

Seniority - Junior

Closing: 11:59pm, 3rd May 2026 BST

This responsibility spans all factor, thematic, cap-weighted and sustainability & climate Indexes

The Director of Communications provides senior strategic communications leadership for PRI, using communications as a deliberate lever to reinforce PRI’s value, credibility and coherence with signatories and external stakeholders. The role shapes the external narrative, protects and enhances reputation, and translates complex technical and policy work into clear, decision‑useful messages that strengthen the enabling environment for responsible investment.

Responsible Investment Manager, RI Markets - OCEANIA (Close 3 May)

Director, EMEA - RI Markets (Close 19 Apr)

12month Fixed Term Contract

IFM Investors is a global asset manager, founded and owned by pension funds, with capabilities in infrastructure equity and debt, private equity, private credit, real estate and listed equities. 

About the role

This is an exciting opportunity to work in ESG Reporting. There is an increasing drive to promote transparency and comparability of ESG reporting across organisations to support sustainable investment decisions and progressive agendas in this space.  This includes the Corporate Sustainability Reporting Directive (CSRD), which is a new reporting requirement covering the full breadth of ESG with a large number of disclosure requirements alongside the EU Taxonomy which assesses the sustainability credentials of a company’s financials.

Job Title: ESG Credit Analyst

Contract Type: Permanent

Location: London

Working style: Hybrid 50% home/office based

Closing date: 13th April 2026

We have an opportunity for an ESG Credit Analyst to join the Royal London Asset Management (RLAM) Credit team on a permanent basis.

The role focuses on sustainable credit research and ESG integration across a range of sectors and offers opportunities for interaction with stakeholders across the wider business, as well as external clients and consultants.

You’ll join a collaborative and inclusive team, with significant opportunity for development and career progression.

New York, New York, United States • Boston, Massachusetts, United States

Sustainability Investments Manager - 
Purchase, New York; Chicago, Illinois; Plano, Texas

Within this role, you will be undertaking high-quality and insightful ESG research, risk advice, stewardship and other activities that make a decisive contribution to a range of asset classes and themes. By working with initiative and in collaboration with colleagues from across the business and at all levels, these actions help to secure members’ futures by identifying and managing the ESG risks and opportunities that matter most to financial outcomes for members. A key part of your role will be ensuring our ESG risk advice on public and private investments, both managed internally and by external asset managers, is evidence-based and impactful.

The team is looking for a dynamic, engaged professional to support cross-functional reporting initiatives and carbon reduction activities. The role includes supporting the operations and integration of the team and working with internal colleagues at all levels and external stakeholders to advance the team’s overall impact. This role is ideal for someone who excels at coordination, stakeholder communication, and process improvement.

The role is accountable for the implementation, ongoing development and effective delivery of the PPF’s Stewardship Strategy, supporting the management of investment risks through engagement and voting and contributing to the achievement of sustainable long-term investment return across the Fund.

This role offers a genuine opportunity for a candidate who is passionate about sustainability, climate change and the transformation of the investment industry in a way that is additive across the value chain for the business.

Employment Type Full time Please note, where PRI has an office there is an expectation to work a minimum of 2 days per week
Location Hybrid · Singapore
Team Markets
Seniority Senior
Closing: 11:59pm, 22nd Mar 2026 +08

As a Senior Sustainability Analyst, you will play a key role in advancing Broadridge’s sustainability strategy and driving progress toward near-term and long-term emissions reduction goals. In this role, you will lead the development of supplier engagement program and contribute to disclosures aligned with global sustainability frameworks. You will collaborate with internal stakeholders and external partners to deliver accurate insights, identify opportunities for improvement, and recommend strategies that drive meaningful progress toward Broadridge’s environmental commitments.

Macmillan is seeking a Sustainability Specialist to support its Environmental, Social, and Governance (ESG) program. This role will be key in driving sustainable business practices and strategies to help Macmillan achieve its environmental targets. The Specialist will collaborate across various teams to ensure the company meets its sustainability goals, adheres to environmental regulations, and integrates eco-friendly practices into daily operations.  Reports to the Director, ESG. 

You will join the ESG analyst team within the Fixed Income platform, to perform the following:

-Labeled Bond Research and Analysis: perform the ESG assessment of Green Social and Sustainable bonds (GSSB) according to BNPPAM internal framework and taxonomy. Provide opinions on new and recurring issuances when announced in the market. Maintain the database and processes linked to the assessment framework in collaboration with RI Techno.
-Coordination: Assist the coordination work within the Fixed Income and Core Investment platforms (meeting preparation and follow up, internal stakeholder management, coordination with other teams, etc)....

You will work collaboratively with our investment professionals to integrate sustainability considerations into our investment process including engaging with our investee companies on ESG issues. In this capacity you will work across the IM platform globally, with an initial focus our UK and European based investment teams. You will contribute to the development of Fidelity’s global sustainable investment frameworks and solutions. You will also work with client-facing teams to evidence the ESG integration process to our clients and consultants, particularly those based in the UK and Europe, acting as an ESG spokesperson both internally and externally.

This is a 12- month fixed term contract.

As a Sustainable Investing Analyst (AVP), you will report to the Head of Sustainable Investing Operations and will be responsible for the following:

-Play a leading role in the firm’s reporting to satisfy sustainable investing-related disclosure frameworks and external commitments
-Help meet sustainable investing-related regulatory obligations in various....

End Date:

Tuesday 17 March 2026

12 Month Fixed Term Contract