Headhunters

Corporate political spending hit an all-time record this cycle: $517 million, per Public Citizen — with four months still to go before Election Day. And much of it comes from companies sitting in ordinary index funds. If you own one, a slice of your savings went along for the ride.

I built a portfolio that opts out. The screen is rules-based and direction-blind — it measures how much companies give to federal campaigns, never which side. The result: 95% less political money than the broad market, with market-like behavior. I've been running it with my own dollars since December, and it's doing exactly what it was designed to do.

New piece on how it works — and why the screen just got stricter in a record-spending year:

Published: March 2026

Summary: DHL continues to produce one of the strongest integrated sustainability reports in the logistics sector. It combines financial reporting with detailed sustainability disclosures covering sustainable aviation fuel, electrified delivery fleets, green logistics solutions, supply-chain resilience and customer decarbonisation services, plus statbook.

Published: March 2026

Summary: IAG's reporting covers sustainable aviation fuel (SAF), fleet renewal, operational efficiency and climate transition. The report links decarbonisation with long-term airline competitiveness, while also discussing investment in more fuel-efficient aircraft and customer demand for lower-carbon travel.

Published: March 2026

Summary: Maersk continues to integrate sustainability directly into its Annual Report rather than publishing a standalone ESG report. Key themes include green methanol-powered vessels, logistics decarbonisation, customer supply-chain emissions reduction, responsible ship recycling and climate transition strategy.

Rail entities outperformed shipping and aviation across key sustainability metrics, Sustainable Fitch says in a new report on the transport sector. Entities in the rail sector achieved an average Entity Score of 71 and an Entity Rating of ER2, higher than both shipping (60, ER3) and aviation (53, ER3). The expanded analysis covers 31 rated entities, up from 27 in the previous edition.

Environmental factors are the main differentiator across transport modes. Rail’s average Business Activity Environmental Rating of ‘2’ was stronger than that of shipping (3) and aviation (4), reflecting its lower-carbon operating model. Business Activity Social ratings are more closely aligned, with rail and shipping averaging ‘2’ and aviation ‘3’, underpinned by shared themes of safety, labour practices and accessibility.

Labelled debt issuance by aviation, rail and shipping represented 3.2% of global issuance in 2025, with annual green, social, sustainability and sustainability-linked volumes remaining above USD30 billion over 2023-2025. Asian entities led issuance, reflecting the financing/refinancing of public transportation systems in developed and emerging Asia.
Green instruments dominate, representing over 60% of the total value of labelled bonds issued since 2015.

Regulatory pressure is intensifying across transport modes in 2026. The EU Emissions Trading Scheme (ETS) expanded maritime coverage to 100% of emissions from January, now incorporating methane and nitrous oxide, while the UK ETS extended to shipping from July. The European Commission is evaluating CORSIA’s effectiveness, a decision with potential implications for EU ETS coverage of international aviation.

Governance concerns dominated this proxy season, starting with the SEC washing its hands of judging shareholder proposal exclusions through to Texas redomiciles and votes against directors. Taking a look at voting results from December 2025 (after the SEC’s policy change) through June 2026, several things stand out to us in the data:

• Companies making their own exclusion decisions did not seem to negatively impact their vote support. UnitedHealth and Chubb may be the exception where they faced lawsuits to include a proposal, did not do so, and their Governance committee chairs saw under 90% support.
• Governance shareholder proposals continue to see higher approval, but environmental proposals at NVR and NextEra Energy received notable support at 47% and 35%, respectively.
• For a director to receive votes against, generally have to oversee weak pay, not show up or sit on a classified or dual-class share board. Poor share performance not so much an issue.

Rewriting the Rules of Engagement: 2026 Proxy Season Lessons and What’s Ahead

Join top governance experts as we break down the disruptive shifts of the 2026 proxy season and analyze the potential regulatory changes ahead.

15th July 2026, 11am ET / 4pm UK

The 2026 proxy season was anything but business as usual, and it looks like there may be even greater fundamental shifts ahead for both investors and companies. Between structural changes in how the SEC handles No-Action requests, escalating debates over the erosion of traditional corporate governance protections, and the chilling effect of 13D guidance on institutional engagement, the landscape has fundamentally altered.

And looking forward? The stakes are even higher as regulatory rumblings threaten to reshape shareholder proposal rights and say-on-pay mechanisms entirely.
Expert panelists:

• Catherine Moyer, Head of Americas Stewardship at Northern Trust

• Jon Solorzano, Partner, Governance and Sustainability at Vinson & Elkins

• Christine Chow, Special Advisor, Canbury Insights

• Gregory Elders, Director, North America, Canbury Insights

Key Discussion Focuses:
• The No-Action Vacuum: How companies and proponents adapted to an SEC sitting on the sidelines, and why it's shifting disputes to state courts.

• Governance Fractures: Lessons from high-profile Texas redomiciles, extreme IPO governance structures, and what they mean for long-term shareholder value.

• The 13D Chill: Navigating the fine line of constructive collaborative engagement under tight activist filing guidance.

• AI in the Room: How artificial intelligence is reshaping stewardship meetings, engagement outreach, and boardroom oversight

• The Horizon: High-stakes implications if shareholders lose core rights to file proposals or vote on pay.

Whether you are an institutional investor, corporate counsel, or corporate secretary, this session will outline the new playbook for issuer-investor dynamics.
 

The latest Carbon Performance data for the world’s largest steel and diversified mining companies are now available on the TPI tool. This update covers 40 steel companies and 11 diversified mining companies [1]. As of June, these steel and diversified mining companies represent a combined market capitalisation of over $436 billion and $394 billion, respectively [2].

[1] These assessments cover TPI companies outside the Climate Action 100+ (CA100+) universe, allowing earlier publication of results. This ensures investors have up-to-date data well ahead of the typical Q3 publication of CA100+ company assessments. 

• Diversified mining companies assessed in this cycle are: Barrick Gold, China Molybdenum, China Northern Rare Earth, Compass Minerals, Fortescue, Freeport-McMoRan, Hindustan Zinc, Mineral Resources, Newmont Corporation, Sumitomo Metal Mining and Teck Resources.
• Steel companies assessed in this cycle are: Acerinox, Bodycote, CAP, Carpenter Tech, Century Iron & Steel, Citic Pacific Special Steel, Cleveland-Cliffs, Commercial Metals, Companhia Siderurgica Nacional, Daido Steel, Erdemir, Evraz, Feng Hsin Iron & Steel, Ferrexpo, Gerdau, GrafTech International, Grupo Carso, Hsin Kuang Steel, Hyundai Steel, Imerys, Iwatani, JFE, JSW Steel, Jindal Steel & Power, Kobe Steel, Leggett & Platt, NSK, Nucor, Proterial Ltd (formerly Hitachi Metals), Qatar Industries, Reliance Steel & Aluminium, Sandvik, Sims Metal Management, Steel Dynamics, Tenaris, United States Steel, Usiminas, Vedanta, Voestalpine and Yamato Kogyo

[2] Market capitalisation coverage is calculated for the companies for which this sector represents their primary activity. The calculation can change due to fluctuating corporate valuations, the size of the company universe assessed, or due to company sectoral reclassifications. Companies with a Not Assessed alignment were excluded from the total market capitalisation. 

Chronos Sustainability and the First Sentier MUFG Sustainable Investment Institute (FSI) hosted a webinar on World Ocean Day, bringing together experts in sustainable finance, development economics and ocean science to explore why the ocean matters to investors and the role investors can play in protecting the oceans.

Among the points made were:

• The ocean plays a central role in climate and weather regulation and is the largest interconnected ecosystem on Earth, home to more than 80% of the world’s biodiversity.
• Ocean health is declining. Overfishing, habitat destruction, coastal conversion, pollution and nutrient runoff are being compounded by climate change, driving marine heatwaves, acidification and falling oxygen levels.
• Investment in sustainable blue economy activities could generate significant positive economic benefits and reverse these drivers of decline. However, the significant gap in blue finance means declining ocean health is already creating financial risks through supply chain disruption, declining asset values, stranded infrastructure and regulatory exposure.
• For investors, ocean health is a systemic risk, a material dependency and an emerging opportunity space. Their challenge is to turn knowledge into practice, to manage ocean-related risks and dependencies in their investment portfolios and to make a substantive contribution to enhancing ocean health in the round.

Notes:

The Ocean Framework report and supplementary engagement guidance are available free to download from the First Sentier MUFG Sustainable Investment Institute website

To discuss ocean-related issues with Chronos, please email: This email address is being protected from spambots. You need JavaScript enabled to view it.

One of the shortcomings of behavioural economics and psychology is that in experiments, researchers focus on personality traits and socio-economic factors, but pay little attention to the circumstances a person is in.

I have written in my Virtuous Investor series in 2020 about the risks involved in this. In particular, I pointed out the excellent book by Lisa Feldman Barrett that shows how circumstances influence our decisions. Even a small change in circumstances can turn these experiments upside down.

Yes (to provide one example that violates Betteridge’s law of headlines). Investors are increasingly pricing water risk across sectors and, in particular, within sectors.

A team of Dutch researchers analysed global stock return data for 14,650 firms in 75 countries and paired these companies with their self-reported water use where available. They then tried to find correlations between stock market returns and water use within an industry, as well as direct and indirect water use (throughout the supply chain) and the influence of water stress (water use relative to available water supply).

What does it take to move from climate commitments to credible delivery — and what is still getting in the way?

We have published our roundup from London Climate Action Week 2026.

From corporate transition planning to the role of banks as enablers, and the geographical realities shaping the transition - here are some highlights from a week of conversations with companies, investors, banks and policymakers.

Published: March 2026 reporting cycle

Summary: Diageo continues to integrate sustainability into its "Spirit of Progress" strategy, covering regenerative agriculture, water stewardship, packaging innovation, responsible drinking and supply-chain resilience.

Published: February 2026

Summary: Carlsberg's report integrates financial and sustainability reporting under its "Together Towards ZERO and Beyond" strategy. Coverage of climate, water efficiency, regenerative agriculture, sustainable packaging and low-carbon brewing operations, together with progress against science-based targets.

Published: February 2026

Summary: Heineken's integrated report continues to develop its "Brew a Better World" strategy, linking sustainable agriculture, water stewardship, circular packaging and responsible consumption with long-term business growth.

Deka Investment has published its Engagement Bericht 2025 (Engagement Report 2025; German-language)

Publication date: February 2026 

Domini Impact Investments has published its 2025 Impact Report, covering the firm's shareholder advocacy, community investment, and environmental activities for calendar year 2025.

Publication date: 4 May 2026 

DPAM has published its 2025 Engagement Activity 

Publication date: no specific date stated; voting data as at 31 December 2025 and the text references developments to February 2026, indicating publication in Q1/Q2 2026 

Comgest has published its Annual Stewardship Report 2025

Publication date: May 2026 

The Climate Action Coalition's Net Benefit AI Taskforce has published 'Net Benefit AI: Scaling Solutions, Opening Opportunities', examining AI's dual role as a fast-growing source of electricity demand and an accelerant of decarbonisation.

The report cites estimates that data centres consumed roughly 448 TWh of electricity in 2025 — on course to approach 1,000 TWh before 2030 — while responsibly deployed AI could cut global emissions by up to 5.4 billion tonnes by 2035, more than offsetting its own footprint.

It proposes a 'Global Pledge for Net Benefit AI', analogous to COP28's renewables-trebling goal, alongside priorities spanning renewable-powered data centres, mandatory environmental disclosure and efficiency standards. Co-chaired by Ambassador Patricia Espinosa and Chris Skidmore, the report is available at the link below.

CCLA Investment Management has published Better World 2026, its annual stewardship outcomes report covering the year 2025. One of the UK's leading responsible investment managers — serving charities, faith bodies and not-for-profit organisations — CCLA documents a full year of engagement activity across three interconnected themes: better work, better environment and better health.

In 2025, CCLA engaged with 242 companies on workplace issues, 209 on environmental themes and 220 on health, with 96 co-investors holding a combined £16 trillion in assets under management supporting its programmes.

Headline activities include the launch of the Corporate Mental Health Benchmark – Global 100+ and the Modern Slavery UK Benchmark, with co-signed letters dispatched to every ranked company; the filing and subsequent withdrawal (after commitments were made) of a climate resolution at NextEra Energy; engagement with Amazon and McDonald's on collective bargaining and supply chain labour standards; and a new initiative targeting 40 counterparty institutions in CCLA's cash funds on fossil fuel financing.

A pilot of a Global Modern Slavery Benchmark, covering 95 of the world's largest companies, was also launched. The report includes full appendices covering CCLA's 2025 engagement record, shareholder proposals, voting record and portfolio carbon footprint.

AllianceBernstein has published its AB Global Stewardship Statement and 2025 Report, combining its annual stewardship activity report with its standing responsible investing policy statement in a single document covering calendar year 2025.

Publication date: April 2026 

BloombergNEF has published its New Energy Outlook 2026, projecting that solar will become the largest single source of electricity globally by 2032 and that battery storage capacity will expand 17-fold by 2050.

The report records 2025 as a landmark year for energy transition investment, with a record $2.3 trillion deployed worldwide, while concluding that a 1.5°C pathway is no longer feasible under current trajectories. Energy security framing links geopolitical risks — including the ongoing conflict involving Iran — to the accelerating case for electrification and domestic clean energy capacity. Read the full report at the link below.

Erste Asset Management has published its Engagement & Voting Report 2025 containing details on the points summarised below: Publication date: no specific date stated; June 2026 (announced by Erste AM on 25 June 2026) 

Contents and focal points - Key figures at a glance: voting at 670 AGMs of 606 companies in 38 countries - Systemic (system-level) stewardship formalised as an integral part of the strategy 

A study of how listed European companies manage cybersecurity risk, drawing on Ethifinance's database of over 2,300 ESG ratings of European small-, mid- and large-cap issuers.

The report frames cyber risk as a core governance issue and maps management gaps across practices including integration into operational risk management, penetration testing, security certification and employee training.

Comparisons are provided by company size, country and sector, with a dedicated focus on 646 companies operating in high cyber-risk sectors. The study follows EthiFinance's 2023 European cybersecurity survey.

Fisher Investments has published 'Why El Nino Doesn't Necessitate Portfolio Shifts', a MarketMinder commentary on the El Nino declared by NOAA in mid-June 2026.

It argues extreme weather is a false fear for markets: the two prior 'super' El Ninos (1982-83 and 1997-98) coincided with US disinflation and economic expansion, not downturns.

Weather-hit sectors such as agriculture are too small a share of the global economy to derail growth, and adaptation plus forecast visibility mean much of the impact is already pre-priced. The piece reads widespread El Nino pessimism as a bullish sentiment signal, while conceding localised damage - as in Peru in 1983 - can be real.

GAM Investments has published a review of its 2025 proxy voting alongside an early outlook on the 2026 proxy season, written by Simona Rubino of its Responsible Investment team. Board-related resolutions accounted for 32% of GAM's votes against management in 2025, reflecting concerns over board independence, refreshment and strategic oversight.

Early 2026 outcomes point to more targeted, materiality-driven stewardship focused on board accountability, strategic resilience and financially material risk oversight. The article links to a fuller PDF version and to GAM's Stewardship Report 2025.

Goldman Sachs Asset Management has published its 'Global Insurance Survey 2026: Adaptation in Action', covering 434 insurance CIOs and CFOs (published March 2026, included as not previously captured). 52% of respondents cite a potential US recession and geopolitics among their top macro risks, yet 88% expect the S&P 500 to end 2026 higher.

Allocation intentions show a net 38% of insurers raising exposure to asset-backed finance, continuing the industry's shift into private credit. 83% of insurers are now using or considering AI, primarily targeting cost reduction. The survey summary is at the link.

Goldman Sachs Asset Management has published its 2025 Stewardship Report — the firm's eighth annual edition — covering stewardship and engagement activities across the Public Markets Investing Business for calendar year 2025. 

Publication date: Early 2026 (no specific date stated; copyright 2026; data as of December 31, 2025) - Report type: Stewardship - Period covered: Year to end Dec 2025 

Candriam has published a viewpoint arguing that the environmental transition has entered a 'capex era', in which capital deployment rather than policy ambition is the defining driver. Around USD 5 trillion was deployed globally across energy-transition infrastructure between 2020 and 2024, and the piece contends the emerging supercycle is broader, longer-dated and more resilient than earlier phases — spanning grids, storage, recycling, water and industrial automation, and increasingly justified by economics rather than subsidies.

Within its Thematic 2.0 framework, Candriam identifies a layered opportunity set across enablers, efficiency leaders and system integrators, and argues active selection will determine where value accrues. Read the full viewpoint at the link below.

IFC and Amundi have published 'Emerging Market Sustainable Bonds', the eighth edition of their joint report — renamed from the former Emerging Market Green Bonds Report to cover the full spectrum of labelled instruments, including transition bonds for the first time.

EM GSSS issuance rose 2.2% to USD 186.8 billion in 2025, but the headline masks stark divergence: China surged 51% to a record USD 111.1 billion, becoming the world's largest GSSS issuer, while EM issuance outside China contracted 31%. The report finds the 'greenium' has effectively vanished and flags a maturity wall, with roughly USD 371 billion of EM GSSS bonds — 45% of the outstanding stock — maturing over 2026–2028. A special theme covers Women's Economy Bonds, whose cumulative issuance has reached USD 57 billion across more than 40 countries. The full report is available at the link below.

JP Morgan has published 'Food security under pressure: Iran conflict disruptions and a brewing El Nino', the latest instalment of its Climate Intuition series by Dr Sarah Kapnick, Global Head of Climate Advisory.

It warns that the Iran conflict is disrupting nitrogenous fertilizer supply - over 36% of global urea is imported from the Persian Gulf - while a developing El Nino historically cuts tropical agricultural production by around 3.5%.

The dangerous overlap: the countries most exposed to El Nino crop declines, including India and Brazil, are also the largest importers of Gulf fertilizer, and no strategic fertilizer reserves exist. Farmers' most likely response is reduced fertilizer application, hitting Brazilian corn, winter wheat and Asian rice first.

The Investor Group on Climate Change (Aus) has published the State of Net Zero Investment 2026, its ninth annual survey of Australian institutional investor climate practice, drawing on responses from 55 investors (21 asset owners and 34 asset managers) collectively managing approximately A$3.5 trillion.

Investor appetite for climate solutions is rising sharply — energy storage up 44 percentage points in two years to 76% and renewable generation up 24 points to 71% — yet 74% of respondents report no progress in removing barriers to climate-aligned investment, with the shortage of opportunities at appropriate risk-return profiles the most-cited barrier in the survey's nine-year history.

Asset-owner appetite for climate investment in Asia jumped 20 percentage points, the largest single-year regional shift recorded, signalling that Australia risks losing transition capital to its trading partners. The full report and summary findings are available on IGCC's website.

J.P. Morgan Asset Management has published its 2025 Investment Stewardship Report — the firm's sixth annual edition — covering its 'investor-led, expert-driven' stewardship activities for calendar year 2025.

Key data - Publication date: April 2026 - Report type: Stewardship - Period covered: Year to end Dec 2025 

Lazard Asset Management has published 'China: Charging the Road Ahead', an Emerging Markets Monitor Q&A from its Emerging Markets Team examining China's position at the centre of the global electric vehicle transition. Chinese consumers buy more than half of EVs globally, while Chinese firms control over 70% of lithium refining, 85% of cobalt processing and more than 65% of cathode and anode production capacity, with CATL and BYD together accounting for 55% of EV batteries installed worldwide.

The team argues that the 'glocal' expansion of Chinese EV and battery firms — roughly $143 billion invested in overseas ventures between 2014 and 2025 — extends rather than erodes this advantage, and highlights under-researched supply-chain opportunities across emerging markets from Chile and Argentina to Indonesia and East Africa. The full Q&A is available on Lazard's website.

Lombard Odier Investment Managers has published 'Advancing net zero progress in emerging market equities', examining how investors can pursue decarbonisation alignment within emerging market portfolios.

LOIM's approach applies its proprietary Implied Temperature Rise methodology, which benchmarks companies' historical and projected emissions against sector and regional carbon budgets — using a 2.5°C threshold for emerging markets, reflecting their differentiated transition pathways.

The piece argues that many emerging market countries are well placed to transition rapidly to net zero, offering equity investors opportunities to capture decarbonisation momentum. Read the full article at the link below. 

Authors Georgina Chiu and Charles Stott argue that investors face governance risks as AI-driven energy demand from data centres could exceed 1,000 TWh by 2026, while also navigating ESG risks including bias, hallucinations, and privacy concerns.

The article accompanies RLAM's downloadable "Sustainable and Ethical AI Investor Expectations Report," which outlines a governance framework for investors seeking to engage with AI adoption across their portfolios.

RepRisk has published 'Business conduct risk in banks: pragmatic, governance-oriented, and less inclined to go quiet', a banking-sector cut of its Business Conduct Risk Intelligence Report 2026, produced with Oxford Economics from a survey of over 500 C-suite executives. It finds that a significant business conduct incident now costs an average of USD 14 million, with firms facing USD 28-43 million in annual exposure and major incidents up 55% between 2023 and 2025.

Only 16% of executives ranked AI-related conduct risks as a top material risk over the past three years, but 56% expect them to be over the next three - the highest of any non-financial risk. Banks and development finance institutions stand out for a less defensive posture on sustainability communications and a strong preference for human-AI hybrid risk data over fully automated alternatives. The summary and report download are at the link. 

Environmental Defense Fund Europe has published 'EU energy security considerations in light of EU MER & the Middle East conflict', a Rystad Energy analysis it commissioned.

The report finds no credible evidence that the EU Methane Regulation is contributing to current oil and gas price increases: TTF and Asian spot prices have moved in tandem, indicating a global supply shock from the Middle East conflict rather than an EU regulatory premium.

OGMP 2.0 Level 5-compliant gas and oil volumes are each expected to exceed EU import requirements by roughly three times in 2027, even allowing for a Strait of Hormuz shortfall. It concludes that weakening or delaying the regulation would not improve energy security, and that the rules are synergistic with REPowerEU and the phase-out of Russian gas. The full report is at the link.

Robeco has published a new insight arguing that physical AI — AI embedded in factories, robots and power grids — is emerging as a key enabler of industrial electrification, energy efficiency and energy security. Industry accounts for nearly 40% of final global energy demand and around two-thirds of demand growth, yet electrification rates have stagnated near 20%; the authors report that physical AI can deliver energy savings of 15–75% in industrial settings.

The piece surveys deployments at Siemens, Schneider Electric, Hitachi and Fanuc — including a digital-twin-optimised pick-and-place operation that cut energy use by almost 75% — and highlights actuator efficiency as an underappreciated investment frontier as humanoid robotics scale. Read the full insight at the link below.

Citi Institute has published The Boardroom's New Mandate: Governing Agentic AI Responsibly, arguing that autonomous "agentic" AI is now a board-level fiduciary risk rather than a technology project to be delegated to the CTO.

It sets out five pillars of responsible AI oversight — people, process, technology, data and governance — stressing that directors need enough AI literacy to challenge assumptions and that robust oversight is itself an enabler of faster, safer AI adoption.

The piece highlights growing regulatory exposure, noting the EU AI Act can impose penalties of up to €35 million or 7% of annual turnover for non-compliance. It concludes that successful agentic-AI adoption depends on combining innovation with disciplined risk management embedded across the organisation.

Citi Research has published Must C: Overcoming Gridlock 2.0 — Solving Power Bottlenecks to Drive AI & Energy Security, a report examining why global power-grid expansion is failing to keep pace with surging electricity demand. The report, led by Head of Energy Strategy Anthony Yuen, argues that AI data-centre buildout, energy-security concerns and the growth of renewables, batteries and EVs are driving sustained demand for power infrastructure that supply chains and permitting regimes cannot match, making "speed-to-power" a critical priority.

It finds power users increasingly turning to distributed "bring-your-own-generation" strategies — often based on U.S. natural gas — while labour shortages, volatile AI-driven load and lengthy interconnection processes compound the challenge. Even if AI-related demand moderates, Citi expects electrification, energy security and renewable deployment to continue supporting substantial investment across the power value chain. A redacted public version of the report is available via the article page.

Citi and CREATE-Research have published Upping the Innovation Game in the Asset Management Industry, a research report drawing on 221 asset managers across 26 countries managing US$34.8 trillion in assets, plus 40 senior-executive interviews.

It finds the scope of innovation shifting from new products toward operational and organisational transformation, with 62% prioritising process innovation as firms respond to fee compression and rising complexity.

The report highlights mutual-fund-to-ETF conversions as the change delivering most client value (cited by 57%), a gradual multi-year path to digital and AI adoption, and the rise of partnerships-at-scale as a strategic capability. The full report is accessible via the article page.

East Capital Group has published its Sustainable Investment Report 2025, covering the group-level responsible investment and stewardship activities of both East Capital and Espiria for calendar year 2025.

Key data

- Publication date: 11 May 2026
- Report type: Annual RI
- Period covered: Year to end Dec 2025
- Frequency: Annual
- Scope: Whole-of-operations
- Fundamental focus: Multi-category

Contents and focal points

- East Capital stewardship: 67 engagements with 49 companies; 175 company meetings voted; AI tools deployed to reduce proxy meeting review time from 45 to 15 minutes per meeting
- Espiria stewardship: 27 engagements with 19 companies; 72 company meetings voted
- Thematic and product developments: Alibaba engagement recognised by Nature Action 100; new Global Emerging Markets ex China Article 9 fund launched

Specifics

- Sustainability themes: Nature and biodiversity (Nature Action 100 engagement), climate transition, governance, emerging markets ESG integration
- Sectors of focus: Emerging markets; technology (AI governance and proxy AI)
- Companies featured (include): Alibaba (nature risk engagement, Nature Action 100)

Team update

The ESG team is led by Huizi Zeng (Head of ESG) and George Svensson (ESG Analyst), alongside Karine Hirn (Partner, responsible investment oversight). East Capital and Espiria report separately within the group structure, with this document providing a combined group-level view.

Differentiators

East Capital discloses a specific AI productivity gain in stewardship operations: proxy meeting review time reduced from 45 to 15 minutes per meeting (67% reduction) using AI tools — an unusually concrete operational disclosure. The Alibaba engagement being formally recognised under the Nature Action 100 framework is notable given the rarity of named emerging-market companies in nature-risk programmes. Two-brand reporting (East Capital + Espiria) within a single group document is also unusual in the peer group."

Boston Common Asset Management has published its Active Shareowner Update: Q1 2026 containing details on the points summarised below:

Key data

- Publication date: 1 April 2026
- Report type: Stewardship
- Period covered: Quarter to end March 2026
- Frequency: Quarterly
- Scope: Whole-of-operations
- Fundamental focus: Engagement & stewardship

Contents and focal points

- Corporate Sustainability Disclosure: Progress is Structural, Not Cyclical — the case for standardised, increasingly mandatory sustainability disclosure as a durable input to long-term risk assessment and capital allocation
- The Power of the Proxy: Strengthening Governance Through Active Ownership — proxy voting as a core stewardship tool amid mounting pressure on shareholder rights, particularly in the US
- AI, Armed Conflict and Investor Responsibility / Climate Engagement: A Risk Analysis Tool for the Engaged Investor — investor oversight of how technology firms govern AI use in high-risk and military settings, and direct climate engagement as regulatory frameworks weaken

Specifics

- Sustainability themes: Corporate sustainability disclosure, AI accountability and responsible AI, climate transition risk, corporate governance
- Sectors of focus: Technology (AI governance and deployment in conflict settings)

Team update

The update is authored by named members of the stewardship team: Lauren Compere (Head of Stewardship & Engagement), Amy Orr (Director of US Shareholder Engagement) and Calvin Bader (Sustainability Analyst).

Differentiators

Boston Common devotes a dedicated piece to investor responsibility for AI use in armed conflict — arguing technology providers retain leverage over deployment through contractual terms, technical architecture and monitoring systems — a national-security-and-AI framing rarely found in quarterly stewardship commentary.

... contains:

• Our vision of sustaianbility (including pivotal themes)
• Sustainable investing
• Impact investing
• Active stewardship

Hugh Wheelan interviews Simon Rawson, Executive Director of the Taskforce on Inequality and Social-related Financial Disclosures (TISFD), on "why TISFD believes social factors are central to societal resilience, long-term value creation, and investment decision-making."

• The origin and mission of TISFD, and who’s involved.
• How business might be incentivised to build stronger, more resilient societies
• Could the public push governments to put people-related issues at the center of long-term business and financial value?
• How realistic is it for business and finance to actually measure and report on people-related risk?

===

Listen:

• via Spotify
• via Apple

Discussion paper on how climate risk is interpreted, governed and acted upon by UK pension schemes.

Works through three climate pathways as governance stress-tests and traces their distinct implications for DB, DC, CDC and LGPS arrangements - including:

• covenant strength
• endgame planning
• insurance-market resilience and
• member outcomes.

The report also examines fiduciary duty, noting trustees must weigh systemic climate risk within existing legal duties, and makes a business case for pension-scheme climate policy advocacy.

Annual assessment of the global green economy drawing on green-revenues data across more than 21,000 listed companies.

Green revenues grew 5.3% in 2025 - the fastest pace since 2022 - with expansion across 75% of the 133 green segments tracked, driven by accelerating electrification, AI-related electricity demand, energy-efficiency pressures and clean transport growth.

Considered as a standalone industry, the green economy would now be the world's third largest, surpassing healthcare

Analysis of physical climate risk to Iberian hydropower, matching 36 years of Spanish and Portuguese reservoir data to the six largest operators — roughly 8.3 GW of capacity-weighted generation across 48 reservoirs.

In the 44 driest months on record, Iberdrola's fleet held around 74% of capacity while Naturgy's sat below 40%: a 34-point dispersion in drought resilience between two investment-grade utilities that the authors argue investors should price, rather than applying a blanket climate discount.

The piece also identifies a statistically robust 1.9-percentage-point-per-decade storage decline at Endesa (material to parent Enel) and shows pumped-storage design measurably improves resilience versus conventional reservoirs.

Responsibilities:

• Customer support: Fill sustainability customer questionnaire & answer sustainability customer requests.  Assure the transparency initiative for TRASCE consortium by filling transparency-one platform, coordinating the topic internally and securing confidentiality requirements
• Product Carbon Footprint:  Assure bridge with the Clariant climate team.  Continue the realisation of Product Carbon Footprint with third-party consulting firm.
• Responsible sourcing: Coordinate cosmetic ingredients responsible sourcing program: manage risks with the supply chain team, analyze business and product impact of at-risk raw material, implement and follow-up action plan, support product development team in sourcing new raw material, participate in industry events and association. Main initiatives: lecithins, Palm, EUDR and Quinoa..

We are seeking a Client Success Specialist to join our Paris team in helping our clients in France and Southern Europe maximise the value they get from our award-winning Sustainability solutions.

In this role you will be the subject matter expert on the breadth of ISS STOXX Sustainability solutions - spanning topics such as corporate sustainability ratings, controversy screenings, SDG impact measurement, climate research, sustainable finance regulatory solutions (EU Taxonomy, SFDR PAI) or engagement initiatives. You will assist clients with queries on research content and methodology and provide technical assistance on the usage of online platforms and data delivery.

The Responsibility Specialist provides operational and administrative support to the Responsibility Lead across ESG-related activities. The role supports ESG data collection, reporting, project coordination and supply chain due diligence activities, helping to deliver Responsibility initiatives across the business while ensuring alignment with legislation, reporting requirements and Group Responsibility objectives.

Key job responsibilities
• Serve as the primary drafter of all ISSB-aligned disclosures, in multiple jurisdictions around the world, ensuring they meet the requirements of IFRS S1 and S2 including governance, strategy, risk management, and metrics and targets pillars,
• Coordinate with external assurance providers to ensure disclosures meet limited and reasonable assurance readiness standards
• Drive continuous improvement in reporting processes, including automation requirements for the sustainability technology team, to increase efficiency and reduce control risk across reporting cycles...

We're looking for a Sustainability Reporting Specialist to strengthen how we measure, manage and communicate our environmental, social and governance (ESG) performance. This role will help build a finance-grade sustainability reporting capability that supports customers, investors and regulators while enabling better business decisions.

Business Unit:  Fitch Solutions
Category:  Credit Analysis & Research
Location:  New York, NY, US
Date Posted:  Jun 15, 2026

Jefferies is seeking a high-performing Governance and Sustainability Junior Associate (AVP) to support the firm’s corporate governance and sustainability programs, with a focus on legal, compliance, and disclosure-related work. This role supports board and committee processes, regulatory and proxy disclosures, sustainability reporting, and corporate records, and works closely with Legal, Compliance, and senior management, including regular interaction with C-suite executives.

This role requires exceptional organizational skills, sound judgment, discretion, and the ability to operate effectively in a fast-paced, high-pressure financial services environment.

The ideal candidate is proactive, detail‑oriented, and comfortable managing competing priorities while serving as a trusted partner to senior leadership.

As the Senior Manager of Corporate Sustainability, you will support the development and implementation of our global CS strategy. This role involves working closely with various stakeholders to ensure that sustainability initiatives are integrated into all aspects of the business.

The Senior Manager will be responsible for driving sustainability goals, managing sustainability reporting including Aon’s annual Impact Report, and ensuring compliance with environmental regulations. You will report into the Head of Strategic Finance & Corporate Sustainability.

Location:London
Category:Product Management
Solution:Indexes
Role Category:Hybrid

In this role you will be the subject matter expert on the breadth of ISS STOXX Sustainability solutions - spanning topics such as corporate sustainability ratings, controversy screenings, SDG impact measurement, climate research, sustainable finance regulatory solutions (EU Taxonomy, SFDR PAI) or engagement initiatives. You will assist clients with queries on research content and methodology and provide technical assistance on the usage of online platforms and data delivery. 

Permanent/Regular or Fixed Term Contract/Temporary: Permanent (UK and ROW) / Regular (US)
L&G Business Unit: Legal & General Investment Management
L&G sub Business Unit: LGIM
Primary Location: London, One Coleman Street
Job Family: Investments LGIM

Department for Environment, Food and Rural Affairs

Apply before 11:55 pm on Tuesday 14th July 2026

Type of role
Environment and Sustainability
Working pattern
Flexible working, Full-time, Job share, Part-time
Number of jobs available
2

Provides scientific and analytical expertise to develop CDP's climate-change disclosure framework — question bank, reporting guidance and scoring. London-based hybrid, 14-month maternity-cover contract (£32,157–£40,197).

Manages CDP's capital-markets signatory relationships, helping financial institutions use CDP environmental-disclosure data on financed emissions and nature.

Berlin-based hybrid role, 12-month fixed-term contract (€46,000–€55,807).

Leads BloombergNEF's West Coast commercial team, growing client relationships for its energy-transition research across the Western US and Canada.

San Francisco-based sales-leadership role, requiring 8+ years' client-facing energy/financial-services experience ($185k–$265k).

Leads enterprise sustainability and decarbonisation strategy across Bloomberg's global business, turning ESG objectives into roadmaps, governance and KPIs.

New York-based, requiring 8+ years' corporate-sustainability experience ($175k–$215k).

Defines and scales Bloomberg's regulation-aligned (EU Taxonomy, SFDR, CSRD, SDR) and thematic sustainability datasets for Terminal and Enterprise clients. New York-based product role, requiring 5+ years in sustainable finance / ESG data ($140k–$295k).

Leads investor-backed corporate engagement with listed Indonesian agri-food companies and banks to advance sustainable, higher-welfare protein systems.

Full-time one-year starter contract, ideally Jakarta-based (working remotely).

Leads AIGCC's India programme, driving engagement with Indian asset owners and managers on climate risk and low-carbon investment.

Full-time permanent role based in Mumbai or New Delhi with regional travel; immediate start.

This is a grant-funded role. The PRI intends to continue the position beyond this date, conditional on securing funding.

Senior Responsible Investment Manager, West Coast US - Markets - Principles for Responsible Investment

Specialist, Technical Product Owner - Solutions - Principles for Responsible Investment

Specialist, Product Owner - Solutions - Principles for Responsible Investment

Manager, NZAOA & Collaboration - Investor Initiatives & Collaboration - Principles for Responsible Investment

Employment Type Contract Please note, where PRI has an office there is an expectation to work a minimum of 2 days per week
Location Hybrid · London, UK

Seniority Mid-level
Closing: 11:59pm, 30th Jun 2026 BST

Meta is hiring a Sustainability Program Manager to join the Sustainability Team focused on the Responsible Supply Chain (RSC) program. Our team enables Meta to operate and grow sustainably and responsibly. 

The GSF Products & Solutions team is seeking an Analyst based in New York to support research on sustainable finance topics and trends, development and maintenance of client-facing materials, and coordination of key internal projects, meetings and events. Successful candidates will have a demonstrated ability to conduct insightful research, perform quantitative analysis, and synthesize findings as well as an interest in sustainability issues. Additionally, successful candidates will be well-organized and detail oriented, and will work well in team environments.

You will join the freshly formed Sustainable Sourcing team, a global section within Global Procurement Operations at the LEGO Group. We hold a vital position in advancing the LEGO Group’s Environmental, Social, and Governance (ESG) agenda by elevating the sustainability performance of the company’s supplier base.

You’ll take on a purpose-led role where you’ll nurture and deliver meaningful sustainability and social value outcomes for a key utilities client—while helping shape a more responsible and inclusive future across Vodafone Business. As a trusted and thoughtful advisor, you’ll collaborate closely with teams, bring fresh ideas to life, and gently guide strategy into action, creating lasting environmental and social impact.

Key features

• Job title: Senior Communications Consultant
• Location: Geneva
• Employment type: Consultancy
• Seniority level: Senior
• Sustainable Investment focus: Sustainable finance — supporting financial institutions to integrate sustainability into market practice (covering PRB, PSI and related UNEP FI frameworks)
• Key requirements: Minimum 7 years' experience in communications, PR or marketing; experience working with or within the finance industry highly desired; fluency in English required
• Closing date: 3 July 2026

Key features

• Job title: Communications Consultant
• Location: Geneva
• Employment type: Consultancy
• Sustainable Investment focus: Sustainable finance — communications supporting financial institutions on sustainability integration, including biodiversity and nature-related themes (Biodiversity COP 17 focus)
• Key requirements: Minimum 3 years' experience in communications, PR or marketing; digital communications and social media proficiency required; experience in the finance sector desirable
• Closing date: 3 July 2026

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 · London, City of, UK

Seniority Mid-level
Closing: 11:59pm, 21st Jun 2026 BST

Uxbridge, United Kingdom
Mechelen, Belgium
Breda, Netherlands

Closing: 9:00am, 29th Jun 2026 BST

We are seeking an experienced and passionate Sustainable Product Manager to join our team to help with the development, positioning, and growth of our sustainable product suite. This role will focus on delivering innovative solutions, coordinating product initiatives, and deepening client engagement.

The successful candidate will join our dynamic team and work in collaboration with
the thematic leads under the guidance of the Director, Thematic Research &
Corporate Innovation, to support the development and implementation of the
engagement process handbook and associated risk management activities, and
closely follow the regulatory stewardship landscape and its potential impact on
FAIRR’s work. 

Job Identification 210756184
Job Category Firmwide Risk and Compliance
Business Unit Commercial & Investment Bank
Posting Date 09/06/2026, 19:16
Locations 277 Park Ave, New York, NY, 10172, US
Job Schedule Full time

The ESG Data Analyst will support a range of ESG quantitative analysis to support the Global Sustainability team as well as members of the equity, fixed income and multi-asset team focused on providing customized sustainable solutions.  

An exceptional opportunity has arisen to join the newly established Sustainable Client Solutions (SCS) Team in London. The SCS Team is responsible for working closely with Relationship Managers and Product Partners throughout in the Global Corporate Investment Bank, Japanese Corporate Banking Division, and Global Markets in the Europe, the Middle East, and Africa (EMEA) region in order to promote engagement on sustainable finance and sustainable advisory (i.e. ESG ratings, disclosures, and controversies), as well as spearheading EMEA’s Green Transformation (GX) strategy, all of which are core pillars of the region’s client solution proposition.

Job Location:  London, GBR
Global Grade:  Band 6
Work Type:  Office Working
Employment Type:  Permanent
Posting Start Date:  03/06/2026
Posting End Date: -

Closing date for applications: 15/06/2026

Location London, United Kingdom

Job type Permanent | Contract typeFull Time
Remote / On-site Hybrid

You’ll spend some of your time at home, working with your team digitally. You’ll also regularly work at your office or hub to collaborate with your colleagues.
Managerial / Technical Lead

(12 Month FTC- Family Leave Cover)
Principles for Responsible Investment
Employment Type Contract Please note, where PRI has an office there is an expectation to work a minimum of 2 days per week
Location Hybrid · London, City of, UK

Team CEO Office
Seniority Mid-level
Closing: 11:59pm, 21st Jun 2026 BST

As a Data Scientist, you will be embedded within Man Group's Responsible Investment (RI) function — working day-to-day alongside the RI research, stewardship and investment teams to deliver data-driven insights. 

Man Group is a leader in bespoke proprietary RI investment and has created several tools and datasets. In this role you will acquire, wrangle, map and analyse large structured and unstructured RI and sustainability datasets, acting as a subject matter expert at the intersection of data science and responsible investment. 

Work spans the full data lifecycle and is delivered through self-managed projects in close collaboration with the RI team and the wider Data & AI division. 

Working across a fast-moving, high-growth insurance business, you’ll partner closely with teams across Underwriting, Governance, Operations and Finance to ensure sustainability is practical, measurable, and embedded in decision-making. You’ll also support the ongoing development of our policy governance framework, helping ensure the right level of control, consistency, and oversight as we scale.

Employment Type Full timeThere is an expectation to be in the office 4 days and one WFH
Location Hybrid · London, UK
 
Seniority Mid-level
Closing: 11:59pm, 14th Jun 2026 BST

Are you passionate about Sustainable Investing and in particular Investor Stewardship? Investor stewardship is a core component of UBS Asset Management’s fiduciary and sustainable investing approach. We are seeking an experienced Stewardship Analyst to strengthen our corporate governance, proxy voting and engagement capabilities across global investments

The Investment Sustainability Solutions Team (ISST) is a multidisciplinary group of sustainable investment professionals specialising in sustainability data and research, stewardship and engagement, and sustainability policy and reporting. The team supports investment teams and their clients by helping them consider and integrate sustainability within the investment process, partnering closely with Investment Risk, Compliance, Technology, and Product to enable rigorous, data-driven investment decision-making. ISST operates as a highly collaborative, cross-functional group within Franklin Templeton’s global platform, offering an environment that values intellectual curiosity, partnership with portfolio managers, and continued development across evolving sustainability priorities.

[Posted 30+ days ago, ad still live]

We are seeking an experienced Senior Sustainability Consultant to play a key role in growing our ESG consultancy offering.  Working closely with our UK and international sustainability specialists you will support business development, strengthen our market presence, and promote our innovative sustainability services. The role is a blend of technical ESG expertise, client relationship and project management, providing crucial support to investors, asset managers, and corporate occupiers as they navigate regulatory demands, investor expectations, and operational performance goals

In your role as Senior Responsible Investment Associate, you will make a meaningful and valued contribution from the outset. This role will provide a great opportunity to support the delivery of PMG’s Responsible Investment strategy, ensuring consistent, efficient and high-quality execution across PMG asset classes and mandates. The successful candidate will bridge the gap between technical RI expertise and practical, value creation applications within private markets.

This is an exciting opportunity to shape and embed a new Sustainability Disclosure Oversight capability within Operations, tasked with providing a holistic review over global sustainability entity-level disclosures.

This role will ensure the accuracy, consistency, and alignment of Vanguard's sustainability disclosures; reviewing, benchmarking, and enhancing ESG content across frameworks and geographies. You'll challenge ESG data validation, conduct external comparisons, and drive continuous improvement to ensure our disclosures are clear, credible, and consistent.

[posted March 2 appears still to be live ad]

This is a Fixed Term Contract opportunity

Can be based in UK, South Africa, Chile, Peru, Brazil

The S&T Platform Strategy & Governance team is seeking an Associate in EMEA to support sustainability strategy, S&T product ideation, market intelligence, and governance activities across the S&T platform. The role sits at the intersection of sustainable product strategy, competitor and industry monitoring, platform analytics, and regulatory‑driven initiatives, with exposure to multiple stakeholders and cross‑functional strategic projects within GPS and BlackRock more broadly.

The Sustainability & Impact Client Solutions team mobilizes the full range of sustainability insights, advisory services and investment solutions across our client segments and asset classes (Publics Markets Investing and GS Alternatives, External Investing Group). We collaborate with sustainability teams across the division and firm to deliver the breadth and depth of our sustainability capabilities to our clients. We are seeking an associate to join the team in NYC to fill a unique role focused on developing differentiated insights on leading edge topics on sustainable investing and better serving our clients with content-rich advisory services. This role will work closely with our global team, in addition to working with our Institutional sales teams to deliver client solutions that focus on Sustainability and Impact Investing across public and private markets.  In addition, this role will work with various investment teams to support investment product development and broader delivery of our capabilities across different asset classes and across different regions.