Individuals 50 of 6,275 results
Organisations 50 of 8,199 results
Buzzes 50 of 12,277 results
Smurfit Kappa: Sustainable Development Report 2023
Smurfit Kappa: Sustainable Development Report 2023
Smurfit Kappa's latest Sustainability Report - "Delivering a sustainable future" covers key areas of their activities including:
- Highlights of 2023
- Planet - climate change, forest, water and waste
- People - values, strategy, health, safety and wellbeing
- Impactful business - sustainable and responsible sourcing
HSBC: ESG Matters - Bengaluru water crisis: drought, depletion, and more
HSBC: ESG Matters - Bengaluru water crisis: drought, depletion, and more
- Bengaluru City is currently facing one of the worst droughts in its history, heightened by low rainfall due to El Niño
- With climate change likely to increase rainfall variability, conservation and restoration of lakes and wetlands are critical
- In our view, investors should actively engage with companies to assess their exposure to growing water-related risks
Clients of HSBC Global Research can access the full report via the HSBC Global Research website or by contacting Wai-Shin Chan
Water woes: Bengaluru's current struggles with severe drought conditions are a stark reminder of the vulnerability of urban water systems to climate change. A year of failed rainfall due to El Niño has resulted in dwindling water reserves in the city. With the likelihood of an increase in future variability in precipitation patterns due to climate change, we believe it is imperative to strengthen urban water systems...
...A global issue: Water scarcity is a pressing risk confronting numerous cities worldwide. As per the WWF, the annual economic value of water and freshwater ecosystems is circa USD58trn, which is nearly 60% of global GDP...
... In HSBC's view, investors should engage with their portfolio companies on issues such as resource consumption, pollution control, and ecosystem impact. In this report, they list 12 engagement questions as a starting point to enable investors to evaluate the resilience and sustainability of various companies in the face of rising water-related challenges.
AstraZeneca: Sustainability 2023 Highlights Summary Call, Virtual (22nd March 2024)
AstraZeneca: Sustainability 2023 Highlights Summary Call, Virtual (22nd March 2024)
(https://www.astrazeneca.com/investor-relations/events.html)
AstraZeneca: Sustainability 2023 Highlights Summary Call, Virtual (22nd March 2024)
Barry Callebaut: Forever Chocolate Progress Report 2022/23
Barry Callebaut: Forever Chocolate Progress Report 2022/23
Making sustainable chocolate the norm
Barry Callebaut's latest report covers key details of their sustainability activities, including:
- Key achievements in 2022/23
- Prospering farmers
- Human rights
- Thriving nature
- Sustainable ingredients
HSBC Holdings: Annual Report and Accounts 2023
HSBC Holdings: Annual Report and Accounts 2023
HSBC's Annual Report contains an Environmental, Social and Governance ('ESG') review, which details:
- Approach to ESG
- Environmental
- Social
- Governance
Britvic: Annual Report and Results 2023
Britvic: Annual Report and Results 2023
(https://www.britvic.com/media/krpdotmg/britvic-annual-report-and-accounts-2023.pdf#page=36)
Britvic's Annual Report covers Sustainable business in pages 34-53, the section details:
- Healthier People, covering consumer health and wellbeing, community partnerships, employee health and wellbeing, and equity, diversity and inclusion
- Healthier Planet, this section details, reimagining packaging, water stewardship, decarbonisation roadmap, and biodiversity
Chronos: Sustainable Finance Careers Guide
Chronos: Sustainable Finance Careers Guide
The Chronos Sustainability Sustainable Finance Careers Guide is a practical guide for students and early career professionals looking to build a career in sustainable finance. Building on interviews with sustainable finance professionals working for banks, institutional investors, ESG research and data providers, consultancies, regulators and industry bodies, the guide describes possible career pathways into sustainable finance, and discusses the qualifications, technical and non-technical skills and experience that employers in this area are looking for.
Key questions covered in the guide:
- Is sustainable finance the right career for you? Reflections on sustainable finance as a vocation, the sense of responsibility that comes with a career in sustainable finance, and the challenges of driving systemic change.
- What qualifications do you need? Reflection on the value of undergraduate and postgraduate degrees and of professional (industry) qualifications
- What skills and attributes do you need? Reflections on skills in data analysis and interpretation, communication and persuasion skills, a passion for sustainability and for finance, and adaptability and flexibility.
- How do you get started in sustainable finance? Reflections on work experience and how to get it, networking and profile building.
The Chronos Sustainability Sustainable Finance Careers Guide 2024 can be downloaded from: Careers Guide 2024
Chronos Sustainability was established in 2017 to deliver transformative, systemic change in the social and environmental performance of key industry sectors. Chronos is involved in a wide range of global transformation projects across the sustainability spectrum and develops tools and strategies to enable its clients to accelerate action and effect real-world outcomes at scale. https://www.chronossustainability.com/
Runcie's Roundup: Food products sector: Most 'hit' research
Runcie's Roundup: Food products sector: Most 'hit' research
Every month, SRI-Connect reviews the sustainability issues and related research and analytical op-ed that have been of most interest to sustainable investors over the previous 90 days.
(We do this to help companies, investors and research providers understand current trends and thinking and to shape their future communications and research focus.)
The sector generating most interest in Dec, Jan & Feb was the Food Products sector - with the top pieces listed below. (Next sectors were: [2] Energy [3] Chemicals [4] Pharma & [5] Transport)
Action points
- For investors: Review the research pieces below and connect with the analysts that wrote them
- For research providers: Review the pieces below and – through your own research – extend and challenge them by engaging yourself in the sustainable investment debate
- For listed companies (in this sector): … who are preparing their sustainable investor presentations for the months ahead … be sure to cover the issues raised and your response to them in your forthcoming communications
- (For listed companies – in other sectors), contact me directly for a FREE report on what’s occupying the minds of investors in your sector.
World Benchmarking Alliance: 2023 Nature Benchmark
The 2023 iteration of the Nature Benchmark assesses 350 companies from across the food and agriculture value chain and 30 companies from the paper and forest industry. These food and agriculture companies account for more than half of the world’s food and agriculture revenue. The Benchmark shows that - although some companies are taking significant steps to transition to sustainable production - the overwhelming majority do not yet really understand how they affect and rely on nature.
JP Morgan: The increase in appetite for obesity drugs
J.P. Morgan Research forecasts that the GLP-1 market will exceed $100 bn by 2030, driven equally by diabetes and obesity usage. Total GLP-1 users in the U.S. may number 30 mn by 2030 — or around 9% of the overall population. The increasing appetite for obesity drugs will have myriad implications, boosting sectors such as biotech and creating headwinds for industries such as food and beverage.
FAIRR: Coller FAIRR Protein Producer Index 2023/24
The Index assesses 60 of the largest listed global meat, dairy and aquaculture companies on ten ESG factors. This report focuses on four topics that are attracting the most interest from stakeholders of all types, including companies and investors: SBTi FLAG, Circularity, Antibiotics and animal welfare, and human capital risks.
Anthropocene Fixed Income Institute: EU deforestation law & McDonalds footprint (two pieces)
- EU deforestation law: AFII examine how bondholders exposed to leading soy traders can assess financial risk arising from EU regulation to remove deforestation from supply chains and consider whether the market is already pricing in such concerns.
- McDonalds’ deforestation footprint: AFII examine McDonald’s exposure to deforestation in their supply chain, and the comprehensive disclosure of the company’s deforestation impact – seen as vital for effective investor engagement. AFII find that McDonald’s approach to deforestation is ahead of its peers and is based on long-term commitments and sourcing products that comply with certification schemes. However, there is evidence that certification schemes can be rigged and provide little guarantee against deforestation. AFII suggests that investors should ask McDonald's to disclose the volumes of products imported from high-risk countries for their European operations.
CSR reports from Ebro & Associated British Foods
Ebro’s Corporate Social Responsibility and Sustainability Report and Associated British Foods Responsibility Report cover key topics of their business activities including: supply chains, contributions to SDGs and efficient resource use. The fact that these reports chart highly shows us that investors and analysts are actually interested in the sustainability reports of listed companies
Asia Research & Engagement: Balancing the Bowl: Asia’s Role in a Global Protein Transition at COP28
COP28 marks a turning point, not just with its two-thirds plant-based catering announcement, but by placing sustainable food on the formal agenda for the first time. As global leaders prepare for this annual climate discussion, it is crucial to recognise the vast opportunities for a sustainable food future. Renowned for its mixed protein bowl, Asia can lead the way through blended solutions, including preserving traditional plant proteins and scaling alternative proteins, and address the intricate intersection of food security, climate change, and sustainable development.
HSBC: Climate Investment Update - The Energy Charter Treaty's sunset could burn investors
HSBC: Climate Investment Update - The Energy Charter Treaty's sunset could burn investors
- The EU as a block has agreed to exit the Energy Charter Treaty, citing incompatibility with climate goals
- It is proposing an inter se agreement between Member States that cuts the protection period for fossil fuels to zero
- This and other modernisation provisions, if adopted, create significant risks for investors' existing fossil fuel assets
Clients of HSBC Global Research can access the full report via the HSBC Global Research website or by contacting Wai-Shin Chan
HSBC: What is transition anyway? - The meaning, the finance, and the complexities
HSBC: What is transition anyway? - The meaning, the finance, and the complexities
- Transition is often discussed, but there is little agreement on what it means - is it about energy, climate, or even finance?
- Our focus is mostly on climate transition - from a high- to a low-carbon economy - we see it as a direction, not a destination
- We provide thoughts on investing in and financing the transition and explore issues like the impact on supply chains and tech
Clients of HSBC Global Research can access the full report via the HSBC Global Research website or by contacting Wai-Shin Chan
Which transition? It's not clear exactly what is meant by the widely used term transition. There is no universally agreed definition, though that there are different types of transition: climate, energy, finance, to name just a few. Each are subtly different in their pursuit of change, and in what they encompass.
HSBC offer some high-level insights into what is meant by the climate transition and how various classifications fuel uncertainty. They think that transition is a direction and not necessarily a destination. As such, there may be multiple pathways, with some more efficient than others. They're also mindful about the possibility of 'transition washing'.
Sustainable Fitch: ESG Ratings Insights: Gender Diversity Metrics and Trends
Sustainable Fitch: ESG Ratings Insights: Gender Diversity Metrics and Trends
Sustainable Fitch assign ESG Ratings to entities, to Green, Social and Sustainability (GSS) and sustainability-linked debt instruments (collectively, labelled instruments), and to non-labelled instruments.
This report draws on Sustainable Fitch’s entity, framework, and instrument ratings to identify trends related to gender diversity and pay equity.
Banks and financial institutions lead in gender diversity, with such sectors as energy, automotive and transportation lagging.
Board-level gender diversity has risen in recent years, facilitated by supportive regulations but more effort is required to promote greater representation across countries and sectors.
RIAA: From Values to Riches 2024: Charting consumer demand for responsible investing in Australia (Webinar | March 18th)
RIAA: From Values to Riches 2024: Charting consumer demand for responsible investing in Australia (Webinar | March 18th)
(https://riaa.glueup.com/event/95583/)
Join the Responsible Investment Association Australasia for a free webinar as we unpack the findings of Australia's most comprehensive survey of consumer attitudes towards responsible investment.
Their study will reveal:
- Which ESG issues Australians wish to avoid or support through their investment choices
- How concerned Australians are about 'greenwashing' when seeking to invest responsibly
- What Australians expect of financial advisers
- What the biggest barriers are to participation in the responsible investment market and
- How attuned the financial services sector is to the needs of contemporary consumers
Planet Tracker: Is Bayer a litigation leading indicator?
Planet Tracker: Is Bayer a litigation leading indicator?
(https://planet-tracker.org/bayer-litigation-leading-indicator/)
In his financial presentation on 5 March, Bayer’s CFO clearly laid out the devastating effect of ongoing litigation which has been costing the company on average about EUR 3 billion per annum.
Is this a warning for all financial institutions which are investing and lending to producers of toxic synthetic chemicals?
The life science company demonstrates how debilitating litigation can be. Free cashflow is being absorbed by ongoing litigation (EUR 13 billion in the last 5 years) and the legal cases are continuing.
The dividend has been cut by 95% and strategic options, such as investing in growth areas, curtailed.
Chemical and petrochemical companies should take note and investors should be scrutinising the risk premium they require to fund these enterprises.
UKSIF: Spring Conference 2024 (15 May | Edinburgh)
UKSIF: Spring Conference 2024 (15 May | Edinburgh)
(https://www.eventcreate.com/e/springconference2024)
Location
Dynamic Earth, Edinburgh
Holyrood Rd, Edinburgh EH8 8AS
Date & Time
May 15, 2024
8:30 AM - 7:00 PM
We will welcome top-tier delegates from our whole range of members and cover diverse topics, from regulation and politics to investment strategies and sector breakdowns.
You can expect a full day of content covering the biggest issues in the sustainable finance sector, with an audience of asset managers, asset owners, banks, financial advisers and other UKSIF members. The conference will wrap up with a drinks reception for all attendees.
Agenda and speakers will be announced soon.
HSBC: ESG Sentiment Survey - Have we reached peak ESG?
HSBC: ESG Sentiment Survey - Have we reached peak ESG?
- In our sixth ESG survey, we find geopolitical distractions and anti-ESG sentiment in the US are headwinds to sustainability
- But there's also room for optimism, as many are looking to advance their ESG analysis, finding more reasons to incorporate it, and considering a broader set of issues
- AI may be transformative, with investors contemplating its use to monitor, analyse or summarise sustainability issues
Clients of HSBC Global Research can access the full report via the HSBC Global Research website or by contacting Wai-Shin Chan
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HSBC: ESG Matters - Recent wave of employee classification reforms
HSBC: ESG Matters - Recent wave of employee classification reforms
- The EU has reached consensus on the Platform Worker Directive, however, the new rules have been heavily diluted
- Australia and the US amended their labour laws and adopted a new classification system to protect employee-like workers
- In our view, the new labour laws are likely to stimulate sustainable growth of gig economy and independent work
Clients of HSBC Global Research can access the full report via the HSBC Global Research website or by contacting Wai-Shin Chan
HSBC: Climate Alpha Companion - Equity exposure to the Carbon Trading theme
HSBC: Climate Alpha Companion - Equity exposure to the Carbon Trading theme
- Revenue of carbon trading stocks in HSBC Climate Solutions Database has risen by an 18% CAGR since 2016-17
- European region leads with both highest number of stocks and highest share of revenue in the Carbon Trading theme
- We cover five of the 15 screened stocks, with three Buys
Clients of HSBC Global Research can access the full report via the HSBC Global Research website or by contacting Wai-Shin Chan
Man Group: ESG Performance and Flows - From a Tale of Two Cities in 2023 to (hopefully!) Great Expectations in 2024
Man Group: ESG Performance and Flows - From a Tale of Two Cities in 2023 to (hopefully!) Great Expectations in 2024
(https://www.man.com/maninstitute/ESG-performance-and-flows)
Drawing on Dickensian duality, ESG performance in 2023 mirrored the stark contrasts of the great writer’s “A Tale of Two Cities” – “it was the best of times, it was the worst of times....it was the season of Light, it was the season of Darkness...” On the one hand, we saw ESG indices outperforming their non-ESG counterparts whilst at the same time, active ESG managers struggled versus their non-ESG peers and their respective benchmarks.
Last year provided a challenging market backdrop for sustainable investors; higher rates, poor performance of widely-held ESG stocks and rising anti-ESG sentiment related to upcoming elections (particularly in the US and Europe) all contributed to increasing uncertainty for sustainable investors.
This paper outlines key insights from an in-depth analysis of ESG performance and flows: digging deeper into the drivers of the key trends which dominated the ESG landscape last year and highlighting key themes for ESG investors to look out for in 2024.
Man Group: The Path Less Travelled: Understanding Corporate Green Bonds
Man Group: The Path Less Travelled: Understanding Corporate Green Bonds
(https://www.man.com/maninstitute/path-less-travelled-green-bonds)
Green bond issuance has increased dramatically in the last five years. But how do corporate green bonds compare quantitatively to their non-green counterparts? In the ‘Path Less Travelled’ series on multi-asset sustainable investing, Man explore in depth various asset classes. Having previously considered responsible investing in relation to commodities and government bonds, here they examine the role of investment grade (IG) corporate green bonds. Specifically, they look at those bonds that adhere to the ICMA Green Bond Principles, a widely adopted framework that ensures green bonds live up to their name. Investors looking to supplement their portfolio with green bonds may wonder how such securities differ quantitatively from conventional debt. What are the structural differences (if any) of the green debt market? Do they have similar yields and risk characteristics? A common perception about green bonds is that demand outstrips supply, but is this true? And what about the so-called green premium or ‘greenium’ effect, where investors accept lower yields in return for holding sustainable debt?
Man GLG: Extracting the Best from Natural Resources
Man GLG: Extracting the Best from Natural Resources
(https://www.man.com/maninstitute/extracting-best-from-natural-resources)
Why an often-overlooked asset class should form a core component in a well-diversified portfolio.
Investors often must navigate a combination of cyclical and secular forces, ranging from geopolitical unrest to volatile inflation. Natural resource investments, referring to assets which derive from nature such as agriculture, oil and gas, and metals, are often overlooked by investors but Man GLG believe, in today’s world, they should form a core part of any well-diversified portfolio. In this paper, they outline some of the key attributes of the asset class which lead us to this conclusion, including:
- Natural resources have ranked among the most effective hedges against inflation and may offer protection in various market environments.
- They have tended to have a low correlation to other major asset classes.
- Each commodity is exposed to a unique supply and demand dynamic which drives distinct price performance, creating opportunities to generate alpha.
- The commodities market has offered high liquidity owing to its long-established and developed nature.
- Natural resources can offer protection against volatility induced by geopolitical conflict.
Persefoni: Climate Disclosure Trends in Investor Relations
Persefoni: Climate Disclosure Trends in Investor Relations
Investor relations (IR) professionals play a crucial role in managing a company’s climate disclosure by facilitating communication between the company and its investors regarding environmental, social, and governance (ESG) matters, including climate-related initiatives, goals, and performance.
Key aspects of their role include monitoring evolving regulations and disclosure requirements, collaborating with finance and sustainability teams to ensure that climate-related metrics are accurate and consistent with other disclosures the company makes, and preparing reports and disclosures that adhere to relevant reporting frameworks and standards.
IR professionals are instrumental in fostering transparency, building trust, and ensuring effective communication between the company and its investors. As investors are increasingly interested in companies’ climate related risks and strategies, IR professionals play an important role in communicating about the company’s climate and overall ESG strategy.
This collaborative report from NIRI: the National Investor Relations Institute and Persefoni focuses on how companies are responding to investor demand for climate information.
Persefoni: Food & Beverage Carbon Footprint: Emissions Profile Insights
Persefoni: Food & Beverage Carbon Footprint: Emissions Profile Insights
(https://www.persefoni.com/learn/emissions-profile-food-beverage)
Persefoni: Food & Beverage Carbon Footprint: Emissions Profile Insights
The food and beverage processing sector is not just an economic giant — it is on the frontlines when it comes to global warming. The industry is a significant driver of GHG emissions. It is also highly vulnerable to risks posed by climate change: Many businesses, especially in agriculture, are already feeling the effects of severe weather, disruptions, and disasters.
For these companies, decarbonization is an urgent imperative — and it begins with understanding where their greenhouse gases are coming from. To establish a baseline picture of emissions in this sector, Persefoni analyzed data from the CDP (formerly Climate Disclosure Project, the largest database of global climate reporting.
Persefoni take a look at the emissions profile of the food and beverage processing industry, opportunities for reductions, and steps companies can take to get started in comprehensive carbon accounting.
Lombard Odier: The environmental implications of 2024’s elections
Lombard Odier: The environmental implications of 2024’s elections
Lombard Odier: The environmental implications of 2024’s elections
2024’s elections will be pivotal for economies around the world, as around half of the globe’s population heads to the ballot box. The way the votes fall also has the potential to push clean energy and environmental policy in starkly different directions.
The clearest case is perhaps in the United States, where voting takes place on 5 November. Donald Trump undid dozens of environmental bills during his first term, including the Clean Power Plan and a requirement that oil and gas companies calculate the “social cost of carbon”. If he returns to the White House, Mr Trump may repeat this approach and pick apart the Inflation Reduction Act (IRA) that includes over USD 670 billion in federal spending and tax incentives for the energy transition.
Lombard Odier IM: Why invest in nature, the world’s most undervalued asset class?
Lombard Odier IM: Why invest in nature, the world’s most undervalued asset class?
Since 1950, the world’s rapid economic growth has been synonymous with greenhouse gas emissions and resource extraction.1 This connection is now broken.
In our energy systems, the gradual abandonment of fossil fuels in favour of renewables is offering us the prospect of carbon-free electricity. In the materials sector, progress in product recycling and reuse alongside the emergence of innovative natural materials is facilitating growth without resource extraction. These transitions are being accelerated thanks to carbon pricing, which imposes costs on companies that create greenhouse gas emissions. And, at the heart of this transformation, a new approach to the Earth and its oceans is radically changing our relationship with nature.
UBS: Bloom or bust (report and podcast)
UBS: Bloom or bust (report and podcast)
UBS: Bloom or bust
Challenge: Biodiversity ignored for too long
Roughly 60% of global GDP is at least moderately dependent on nature. Acknowledging biodiversity’s importance after decades of neglect, the global community reached a consensus on a “Paris Agreement for nature” in 2022—the Global Biodiversity Framework (GBF).
Its two principal objectives are to reverse global biodiversity loss by 2030 and to achieve a nature-positive world by 2050. Now the challenge is delivery, and based on the targets, it will be a race against time, particularly to meet the 2030 deadline.
Rapid transformation is required in three areas:
1. We need better aligned economic incentives. Subsidies should motivate
the responsible use of resources, rather than the depletion of natural capital.
2. We need to value nature to make it visible. Coherent and internationally agreed
methodologies to value nature would enable its inclusion in financial statements,
and thus in decision-making throughout the economy.
3. We need a clear direction of policy. The GBF's targets should be quickly
underpinned by national implementation plans, providing credibility in the direction
of policy, which in turn can incentivize investments in the long-term transition to
a nature-positive world by 2050.
AXA IM: Measuring energy: Losses and efficiencies with an electric silver lining
AXA IM: Measuring energy: Losses and efficiencies with an electric silver lining
Key points:
- Energy is essential - it provides us with heat, lighting and the power to makes machines and engines run
- Society is however reliant on fossil fuels and harnessing nature where it can - biomass, wind, water and so on
- Two-thirds of the energy injected into the system is of no use - reducing those losses is possible through traditional efficiency gains and more significantly by electrifying processes and end uses
- There are ever-growing opportunities to invest in companies that can deliver energy efficiency gains and in the broad electrification ecosystem
Triodos IM: Investing in the circular economy (Podcast)
Triodos IM: Investing in the circular economy (Podcast)
(https://www.triodos-im.com/articles/2024/podcast-investing-in-the-circular-economy)
What is needed to transform our current economic system into a circular one and what are the challenges that come with that transition? In this podcast episode, Rosl Veltmeijer discusses this with Nancy Bocken, Professor in Sustainable Business at the Sustainability Institute of Maastricht University, and Hans Stegeman, Chief Economist at Triodos Bank.
Natixis: How Cities Use Finance to Manage Climate Change
Natixis: How Cities Use Finance to Manage Climate Change
(https://www.im.natixis.com/uk/esg/how-cities-use-finance-to-manage-climate-change)
Transport and buildings within these urban areas – whether residential, commercial or industrial – are responsible for nearly 75% of global CO2 emissions and have a major impact on the environment. That’s why the most advanced cities are developing planning tools and engaging both mitigation and adaptation policies.
Of course, these policies come with a cost attached. Yet the cost of adaptation is still much lower than the perceived cost of climate inaction and repairs, which could undermine the economy.
Finance therefore clearly has a role to play in helping cities mitigate and adapt to the consequences of climate change. Here are three examples of investments that aim to make a difference:
Ostrum: Sustainable Bonds: Unlocking New Dimensions in ESG Investing
Ostrum: Sustainable Bonds: Unlocking New Dimensions in ESG Investing
Highlights
- The sustainable bond market has seen significant growth since its inception in 2007. Issues are now approaching $1 trillion a year and account for more than a quarter of new issues in the eurobond market.
- Sustainable bonds can amplify investors’ approach to sustainable investing, and finance a climate transition respectful of societies and economies.
- Long-term stability is critical for fixed income investors, and sustainability-focused companies are more likely to minimise transition and financial risks, while having a closer engagement with stakeholders.
Handelsbanken Wealth & Asset Management: Gender and generation: Unravelling the wealth gap - Wealth survey 2024
Handelsbanken Wealth & Asset Management: Gender and generation: Unravelling the wealth gap - Wealth survey 2024
(https://wealthandasset.handelsbanken.co.uk/media/u1sbz44u/wealth-survey-2024.pdf)
Handelsbanken Wealth & Asset Management: Gender and generation: Unravelling the wealth gap - Wealth survey 2024
This is Handelsbanken Wealth & Asset Management's second edition of its national Wealth Survey. In keeping with the first edition, the 2024 report gets to the heart of how the nation feels about money matters, including personal finances, financial education and long-term financial planning.
It was no surprise to find that this year’s results delivered strong and sobering evidence of an ongoing gender wealth gap – the disparity in wealth between women and men which also showed up clearly in last year’s edition. This report adds a fresh layer to this information, by taking a closer look at how older and younger generations might be experiencing the financial world very differently.
Throughout this report, you’ll find a series of chapters covering wealth gap topics, including an added focus on these generational differences. The report highlights the findings of the 2024 Wealth Survey, with input from around the Wealth team at Handelsbanken Wealth & Asset Management.
What will this Wealth Survey report cover?
1. Chapter one - Is lower confidence widening the gender wealth gap? - considers why financial literacy and education among women still appear to be so low. How does this affect women’s attitude to taking on financial risk, and what does it mean for their wealth over the long run?
2. Chapter two - Pensions: the final frontier for the gender wealth gap? - revisits the gap in pension savings between women and men, taking a closer look at the challenges particularly facing more mature women. It also considers what a career change could mean for your retirement prospects.
3. Revisiting a crucial topic in last year’s report, illustrated timeline – A short history of women and wealth – provides a whistle stop tour of some of the ways the financial world has historically held women at arm’s length, and how this has begun to change.
4. Chapter four - A word of advice… but from whom? - uncovers where people look for sound financial advice. It discusses significant generational differences surrounding who people trust with money matters, and uncover what people really think of financial professionals.
5. Finally, the fifth chapter - Regrets: a few, or too few to mention? - considers the financial regrets keeping people awake at night, as well as the financial decisions that have made them proud. It lifts the lid on the array of topics weighing on women and men’s minds, from politics to divorce.
Berg, Oliver Huidobro and Rigobon: On the Importance of Assurance in Carbon Accounting
Berg, Oliver Huidobro and Rigobon: On the Importance of Assurance in Carbon Accounting
(https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4734240)
Firms that obtain assurance for their carbon accounting report on average a 9.5% higher carbon intensity than their peers. When controlling for assurance, we do not find evidence that SBTi target setters reduce their future emissions. Instead, firms that obtain assurance reduce their future carbon intensity by 3.3%.
This has implications for portfolio managers and ESG raters as taking reported carbon emissions at face value would lead to penalizing firms that are more serious about their carbon reductions. It also calls for mandatory assurance when carbon reporting is mandatory and when reported emissions are generally relied upon in regulation.
Mercedes-Benz Group: ESG Conference 2024 (20th March 2024)
Mercedes-Benz Group: ESG Conference 2024 (20th March 2024)
(https://group.mercedes-benz.com/investors/events/2024-mercedes-benz-group-esg-conference.html)
Mercedes-Benz Group holds its third ESG Conference on March 20, 2024. We will take you through the facets of our sustainable business strategy from decarbonization to sustainable financing.
GSK: ESG Performance Report 2023
GSK: ESG Performance Report 2023
(https://www.gsk.com/media/11009/esg-performance-report-2023.pdf)
This report summarises performance across GSK's six environmental, social and governance (ESG) focus areas. This report is in line with the requirements of the Sustainability Accounting Standards Board (SASB) and the Global Reporting Initiative (GRI). This report includes:
Progress in 2023 – across six focus areas :
- Access
- Global health and health security
- Environment
- Diversity, equity and inclusion
- Ethical standards
- Product governance
Ocado Group: Annual Report 2023
Ocado Group: Annual Report 2023
(https://ocadogroup.com/media/zpkld2k5/ar23.pdf)
Ocado Group has published its Annual Report for 2023, detailing its Financial, Strategic and Operational progess.
Pages 67 - 81 include the Responsible Business Report and pages 82 - 101 detail the information relating to the Task Force on Climate-Related Disclosures.
Currys plc: Annual Report & Accounts 2022/23 - Sustainable business: Our approach
Currys plc: Annual Report & Accounts 2022/23 - Sustainable business: Our approach
(https://www.currysplc.com/media/caghge2x/41183-currys-ar-2022-sustainable-business-chapter.pdf)
Currys plc: Annual Report & Accounts 2022/23 - Sustainable business: Our approach
See here for Curry's full Annual Report & Accounts 2022 / 23.
Pages 40 - 63 details the company's sustainable business approach, identifying material issues and sustainability priorities.
The section focuses on progress towards its circular business model, tackling climate change and developing community initiatives, including in the area of 'digital poverty'.
Dimensional: 2023 Annual Stewardship Report
Dimensional: 2023 Annual Stewardship Report
Dimensional Fund Advisors latest report covers key areas of their activities including:
- Approach to Investment Stewardship
- 2023 Investment Stewardship Activities
- Voting and Engagement Case Studies
Sustainable Fitch: ESG Ratings Insights: Gender Diversity Metrics and Trends
Sustainable Fitch: ESG Ratings Insights: Gender Diversity Metrics and Trends
In its latest report on ‘Gender Diversity Metrics and Trends’, Sustainable Fitch sheds light on the latest trends related to gender diversity and pay equity. Companies committed to diversity excel in environmental and governance practices Sustainable Fitch ESG Ratings data show. Financial institutions and companies in the EU score the highest on gender diversity. The energy, automotive and transportation sectors lag behind, as do companies in Asia and Latin America. While the banking and financial sectors lead in gender diversity, sectors such as energy, automotive, and transportation are yet to catch up.
Download the full report ESG Ratings Insights: Gender Diversity Metrics and Trends
This report is a deep-dive analysis of fixed-income sustainability trends derived from ESG Ratings that Sustainable Fitch assigned to entities and their labelled debt instruments. Underpinned by our extensive dataset, the reports offer unparalleled insights for fixed-income investors focusing on impact investing.
HSBC: Climate Investment Update - US climate disclosures: SEC adopts modest final rule
HSBC: Climate Investment Update - US climate disclosures: SEC adopts modest final rule
- The US SEC adopts final rule on climate-related disclosures, but notably weaker - Scope 3 emissions did not make the cut
- The rule lacks alignment to similar frameworks, incl. California rules; this may add confusion for corporates and investors
- HSBC think corporates should establish a plan for complying with the new rule, and keep watch on upcoming legal challenges
Clients of HSBC Global Research can access the full report via the HSBC Global Research website or by contacting Wai-Shin Chan
HSBC: Climate Investment Update - China: Putting energy and climate targets back on track
HSBC: Climate Investment Update - China: Putting energy and climate targets back on track
- China announced a stronger energy intensity target for 2024 to get its 14FYP energy and climate targets back on track
- Energy efficiency, renewable energy share and new energy storage will be key to meet China's 14FYP targets, in our view
- We think China's good progress in renewable installation and non-fossil energy share could provide some thrust to the targets
Clients of HSBC Global Research can access the full report via the HSBC Global Research website or by contacting Wai-Shin Chan
Environmental Defense Fund: MethaneSAT is in Orbit!
Environmental Defense Fund: MethaneSAT is in Orbit!
Environmental Defense Fund: MethaneSAT is in Orbit!
Monday afternoon, under a clear blue sky at Vandenberg Space Force Base, a SpaceX Falcon 9 rocket took off with EDF’s MethaneSAT satellite in its cargo. A couple of hours later, 600 km above earth, MethaneSAT was released into orbit. A momentous day!
This is a huge step forward in the quest to measure and rein in methane emissions. In an op-ed for Environmental Finance, my colleague Andrew Howell argues for why yesterday’s launch is a big deal for the financial sector.
If you are looking for a bit more detail, check out our report, MethaneSAT: What You Need to Know, which answers common questions from the finance community about this new technology. And there are lots of resources on the MethaneSAT website.
RFI Foundation: How transition finance could eclipse sustainability-linked financing
RFI Foundation: How transition finance could eclipse sustainability-linked financing
RFI Foundation: How transition finance could eclipse sustainability-linked financing
One of the consequential outcomes of COP 28 was the agreement to transition away from fossil fuels in order to reach the global climate goals of limiting warming to 1.5˚ C, which requires reaching Net Zero by 2050. After COP 28 ended there has been a widespread effort to determine the best way to achieve that transition, for which finance plays a key role.
The area of ‘transition finance’ has been raised as a solution for several years but there is a frequently expressed concern that a lack of definition constrains its effectiveness. One of the clearest defined frameworks for international transition finance, the Just Energy Transition Partnerships, has announced large financing commitments but struggled to deploy the financing committed. As a possible solution, two major banks have said they are working on ways to create financing instruments to monetize the emissions reductions from coal phase-out plans.
In the meantime, transition finance is not so common and has been supplanted in terms of volume of financing by sustainability-linked loans (SLLs) and sustainability-linked bonds (SLBs), some of which focus on emissions-reduction KPIs. The benefit of sustainability-linked financings (SLFs) is that they are available for use by issuers or obligors that don’t have projects that qualify under use-of-proceeds frameworks like those for green, blue or sustainability finance.
However, with the flexibility that SLFs offer comes a trade-off in that KPIs are not always for the most material issues; they can be avoided or offset by refinancing if targets are likely to be missed or overwhelmed by the size of the new issue premium that many SLBs saw. These problems have been known for years, but only recently have they become sources of disruption for the market, which saw a decline of new SLLs of 56% driven by stronger regulations and the disappearance of the ‘greenium’, compounded by higher interest rates.
The drop of SLFs came at the same time that interest globally in transition has picked up, which has led to an increased focus on transition finance. Some jurisdictions are developing their own transition finance frameworks, including Malaysia and Hong Kong. Underpinning all the work of transition finance are transition plans that explain how a company with sources of revenue generated by activities incompatible with the climate transition can become aligned with global climate commitments to Net Zero by 2050.
The UK’s Transition Plan Taskforce (TPT) has stepped in to try and set out guidance on credible transition plans for the UK with an eye to helping create consistency internationally. Transition plans need several elements to be viewed as ‘credible’, including pathways towards alignment with climate goals that are ambitious enough to support global Net Zero by 2050 and realistic investment plans to achieve the target reductions.
One important factor in assessing the credibility of transition plans is that pathways towards Net Zero by 2050 must be able to deliver emissions reduction at a rapid enough pace to limit warming to 1.5° C and with enough focus on emissions reduction rather than offsets. The reductions must begin as soon as possible and be as front-loaded as possible, which is often easier said than done. Sectors that are not eligible for green finance fall into two broad categories. There are those that can transition to be compatible with the global climate commitments and those that are fundamentally incompatible with climate mitigation objectives that need to be phased out.
The reason why transition finance might be more efficacious than SLF is that it will follow a transition plan that lays out the objectives, metrics, intermediate targets and financing needs for an entity to transition. This plan can be evaluated for its alignment with Net Zero targets, and the financing linked to it by use of proceeds requirements will be directed in a way that makes the provision of finance more directly connected to transition activities.
SLFs often provide financing not linked to specific uses of proceeds, which makes them harder to connect the financing provided with the ultimate KPIs targeted. A similar situation recently studied quantitatively gives an indication for why this might happen. A study released last month looked at companies that had approved science-based targets from SBTi.
This study compared the emissions reductions of companies depending on whether they had their targets subjected to external assurance or not. The headline finding from the paper was that companies that had the data behind targets assured saw greater emissions reduction than those that hadn’t while also having higher emissions than those that didn’t.
Combining those findings may not necessarily support the presence of greenwashing, but instead suggest that the process of measuring and targeting emissions reduction may be complex and subject to error. Therefore, while more approximate data can help companies to understand the materiality of their emissions or guide financial institutions in setting their strategies, when they engage with customers and provide financing to support transition, that robust data is important to getting the results they seek.
The focus on transition finance has clearly accelerated from where it was just a couple years ago, when it appeared to have been supplanted by sustainability-linked finance. The shift is important, especially for emerging and developing economies, which account for a large proportion of OIC countries. These countries will be investing in the transition of unsustainable activities at the same time as they scale up financing for sustainable activities and manage the Just Transition in line with their SDG priorities and they need to attract as many sources of financing for every part of the process.
Get the latest insights about responsible finance in OIC markets & Islamic finance from the RFI Foundation, C.I.C. Subscribe to RFI’s free email newsletter today!
Allianz Global Investors: Going round in circles – the value of waste
Allianz Global Investors: Going round in circles – the value of waste
(https://www.allianzgi.com/en/insights/outlook-and-commentary/the-value-of-waste)
A scarcity of raw materials and an abundance of waste are significant challenges for the planet. A circular economy could be a transformative solution, but it will require a radical rethink of the existing take-make-waste economy and the entire product lifecycle that goes far beyond recycling. What are the opportunities for investors?
Key takeaways
- The circular economy centres on conserving resources through extended product lifecycles and the reintegration of materials into production.
- Circular business models can help reduce costs, minimise environmental impact and mitigate critical raw material supply issues
- Industries will adapt circular economy principles differently based on their unique characteristics and challenges.
- Investors can play an important part by backing innovators, supporting companies in transition and integrating circular economy thinking into their own investment processes.
Morningstar: Voting Policies: Still No Consensus on Climate or Social Issues
Morningstar: Voting Policies: Still No Consensus on Climate or Social Issues
Disagreement among managers on disclosures about Scope 3, and on political and societal issues.
- Mandating Scope 3 disclosures remains unpopular among U.S. managers, with BlackRock’s and Dimensional’s policies most openly unsupportive. Political and wider societal issues also continue to divide opinion.
- Among 10 large U.S. managers, the areas of broadest agreement on voting policies are on core climate-related disclosures, such as Scope 1 and 2 greenhouse gas emissions, and workforce-related disclosures.
- Use of neutral language in voting policies—implying case-by-case consideration instead of expressions of general support or opposition — is more prevalent on social issues, compared with environmental ones.
- Voting records from 2023 (based on key resolutions with at least 40% independent shareholder support) imply that neutral language in U.S. managers’ voting policies are usually applied conservatively. Recent manager exits from the Climate Action 100+ engagement initiative indicate that this trend will continue.
- Sustainability-focused managers unsurprisingly take a much more supportive line in their voting policies compared with larger players, across environmental and social topics. European managers tend to have similar policies to the sustainability focused ones.
Morningstar: The C-Suite Gender Pay Gap Persists. It’s Not About Pay Discrimination
Morningstar: The C-Suite Gender Pay Gap Persists. It’s Not About Pay Discrimination
As more women graduated from US colleges in the 1970s, they began to close the pay gap. From the mid-1980s on, women graduates have outnumbered men. But sometime in the 1990s, the gap between male and female college graduates’ earnings stopped narrowing. Today, the ratio of female to male median annual earnings for college graduates is not noticeably different from what it was in 1995.
Digging into occupational gender pay differences, Goldin found that the gap is greatest in the business sector—among senior executives, finance professionals, and banking. She coined the term “greedy occupations” to describe job roles that demand more face time, client contact, and networking. These occupations have less flexibility, less predictability, and longer hours.
My own sleuthing, using Morningstar’s Executive Insight dataset with pay data on C-suite executives, underscores Goldin’s findings. For the past several years, I’ve documented the C-suite earnings gap. At the very top of the US’ largest corporations, men continue to be paid more than women.
RIA Canada: Responsible Investment from an Indigenous Perspective (Webinar | March 21st)
RIA Canada: Responsible Investment from an Indigenous Perspective (Webinar | March 21st)
(https://events.ringcentral.com/events/responsible-investment-from-an-indigenous-perspective#sponsors)
Responsible Investment from an Indigenous Perspective will explore how RI aligns with Indigenous approaches to environmental conservation and stewardship, including the integration of traditional knowledge and values for an authentic ESG + I investment strategy. Attendees will also examine the ethical and practical responsibilities of investors, including understanding and adhering to international frameworks and laws when investing both within and beyond Canadian borders.
World Benchmarking Alliance: 2024 SDG2000 data set
World Benchmarking Alliance: 2024 SDG2000 data set
SDG2000
'WBA identified the 2,000 keystone companies within seven transformations and relevant industries. Looking at five keystone principles to develop a list that goes beyond just size, by also looking at impact and influence.
We have now made the same list available to download in excel format including websites, company ownership and ISIN codes.
What’s in the SDG2000 downloadable list?
There are two tabs in the excel spreadsheet. The first tab includes more details about the SDG2000 list and we recommend to read before using it. The second tab named ‘2. SDG2000’ is the full list of SDG2000 companies with the related details.
Please note that this spreadsheet gets updated on a regular basis. They therefore recommend downloading a fresh list whenever you want to use the list.'
Planet Tracker: Investing in Deep Sea Mining is a Financial Mistake
Planet Tracker: Investing in Deep Sea Mining is a Financial Mistake
(https://planet-tracker.org/wp-content/uploads/2024/02/How-to-Lose-Half-a-Trillion.pdf)
Planet Tracker: Investing in Deep Sea Mining is a Financial Mistake
Betting on resource extraction over nature preservation is a financial mistake, according to Planet Tracker’s latest report, which finds that sectors dependent on preserving intact ecosystems have outperformed those engaged in exploitation by threefold in terms of financial returns over the last three decades.
Correcting this mistake is crucial now, as ambitions crystallise to mine the deep sea. The analysis finds that chasing this ecological disaster could cause over USD 500 billion in value destruction, of which USD 30-132 billion in the mining sector itself.
Moreover, the negative impact on the deep sea's ecosystem services could lead to natural capital destruction of at least USD 465 billion, predominantly through habitat destruction.
However, there is a silver lining. Financial market participants have the power to prevent this potential loss of at least half a trillion dollars by endorsing a moratorium on deep sea mining.
Preventing deep sea mining would be such an opportunity for financial markets to claim a major success in nature conservation while avoiding significant destruction to corporate value and natural capital.
Download the Investor Engagement Sheet
Robeco: Hunting for decision-useful biodiversity data
Robeco: Hunting for decision-useful biodiversity data
(https://www.robeco.com/en-int/insights/2024/03/hunting-for-decision-useful-biodiversity-data)
Biodiversity is increasingly being recognized as a material issue for investors due to the significant impacts our economy has on nature and its heavy dependence on its ecosystem services. But finding the right data can be difficult to make biodiversity-related investment decisions.
Unlike climate change, where we have a single metric (greenhouse gas emissions) and a framework with which to calculate it (the Greenhouse Gas Protocol), we do not have a globally accepted methodology to calculate biodiversity loss and impacts.
In our new white paper, we discuss our analysis of the data landscape and some common approaches, and outline how Robeco deals with this issue.
World Benchmarking Alliance/CDP: 2023 Electric Utilities Benchmark
World Benchmarking Alliance/CDP: 2023 Electric Utilities Benchmark
(https://www.worldbenchmarkingalliance.org/publication/electric-utilities/)
The World Benchmarking Alliance (WBA) and CDP assessed 68 of the world’s largest and most influential electric utilities companies, including Enel, ENGIE, E.ON, Ørsted, SSE and Vattenfall, finding that companies’ total share of wind and solar generation almost doubled to 7% of the energy mix between 2017 and 2022.
Although the sector is crucial to enabling other high emitting sectors to decarbonise, it is still falling short of the speed and scale needed to limit global warming: only 15% of companies have net-zero targets aligned with International Energy Agency’s Net Zero Emissions growth requirements.
The only viable future for the planet is for the sector to phase out fossil fuels, but far too many companies still rely heavily on them: only 43% of companies with coal generation currently have plans to phase it out.
Jobs 50 of 183 results
JobPosts: 2 new @ PRI (London / Singapore)
JobPosts: 2 new @ PRI (London / Singapore)
Head of Policy, APAC
Principles for Responsible Investment
Employment Type Full time
Location Hybrid · Singapore
DEI & Culture Lead (12 month Family Leave Cover)
Principles for Responsible Investment
Employment Type Full time
Location Hybrid · London, UK Minimum 2 Days per week in the office
JobPost: Commonwealth Bank of Australia - Senior Manager – Climate & Sustainable Finance Frameworks & Governance (Sydney | CloseDate: 13th March)
JobPost: Commonwealth Bank of Australia - Senior Manager – Climate & Sustainable Finance Frameworks & Governance (Sydney | CloseDate: 13th March)
JobPost: Commonwealth Bank of Australia - Senior Manager – Climate & Sustainable Finance Frameworks & Governance (Sydney | CloseDate: 13th March)
JobPost: Director, Impact Measurement & Management (IMM) Engagement (New York | CloseDate: 28th July 2024)
JobPost: Director, Impact Measurement & Management (IMM) Engagement (New York | CloseDate: 28th July 2024)
(https://jobs.thegiin.org/job/6523/director,-impact-measurement-and-management-(imm)-engagement/)
JobPost: Director, Impact Measurement & Management (IMM) Engagement (New York | CloseDate: 28th July 2024)
JobPost: S&P Global - Data Analyst, Sustainability, Agribusiness Research ( Mexico City | CloseDate: Unknown)
JobPost: S&P Global - Data Analyst, Sustainability, Agribusiness Research ( Mexico City | CloseDate: Unknown)
(https://careers.spglobal.com/jobs/298512?lang=en-us)
JobPost: S&P Global - Data Analyst, Sustainability, Agribusiness Research ( Mexico City | CloseDate: Unknown)
JobPost: Legal & General - Sustainability Manager - Nature Lead (London | CloseDate: Unknown)
JobPost: Legal & General - Sustainability Manager - Nature Lead (London | CloseDate: Unknown)
(https://careers.legalandgeneral.com/job/sustainability-manager-nature-lead-in-london-jid-977)
JobPost: Legal & General - Sustainability Manager - Nature Lead (London | CloseDate: Unknown)
JobPost: Moody's - Sustainable Finance Associate (Korean Speaking) (Hong Kong | CloseDate: Unknown)
JobPost: Moody's - Sustainable Finance Associate (Korean Speaking) (Hong Kong | CloseDate: Unknown)
(https://careers.moodys.com/job/19978697/sustainable-finance-associate-korean-speaking-hong-kong-hk/)
JobPost: Generali Investments: Senior Sustainable Investment & Governance Specialist (Milan | CloseDate: Unknown)
JobPost: Generali Investments: Senior Sustainable Investment & Governance Specialist (Milan | CloseDate: Unknown)
JobPost: Generali Investments: Senior Sustainable Investment & Governance Specialist (Milan | CloseDate: Unknown)
JobPost: J.P. Morgan Asset Management: Sustainable Investing, Investment Stewardship Specialist - Associate (Tokyo | Posted: 15 Feb)
JobPost: J.P. Morgan Asset Management: Sustainable Investing, Investment Stewardship Specialist - Associate (Tokyo | Posted: 15 Feb)
JobPost: J.P. Morgan Asset Management: Sustainable Investing, Investment Stewardship Specialist - Associate (Tokyo | Posted: 15 Feb)
JobPost: J.P. Morgan Chase: Head of Sustainability Reporting Policy, Executive Director (Washington / New York | Posted 16 Feb)
JobPost: J.P. Morgan Chase: Head of Sustainability Reporting Policy, Executive Director (Washington / New York | Posted 16 Feb)
JobPost: J.P. Morgan Chase: Head of Sustainability Reporting Policy, Executive Director (Washington / New York | Posted 16 Feb)
JobPost: S&P Global - French Speaking Analyst, Sustainability Analytics Services (London/Madrid | CloseDate: Unknown)
JobPost: S&P Global - French Speaking Analyst, Sustainability Analytics Services (London/Madrid | CloseDate: Unknown)
(https://careers.spglobal.com/jobs/296336?lang=en-us)
JobPost: S&P Global - French Speaking Analyst, Sustainability Analytics Services (London/Madrid | CloseDate: Unknown)
JobPost: S&P Global - Power and Renewables Consultant (Rio de Janerio/Mexico City | CloseDate: Unknown)
JobPost: S&P Global - Power and Renewables Consultant (Rio de Janerio/Mexico City | CloseDate: Unknown)
(https://careers.spglobal.com/jobs/295663?lang=en-us)
JobPost: S&P Global - Power and Renewables Consultant (Rio de Janerio/Mexico City | CloseDate: Unknown)
JobPost: S&P Global - Associate Director/ Senior Analyst – Sustainable Finance, Japan & APAC (Multiple locations | CloseDate: Unknown)
JobPost: S&P Global - Associate Director/ Senior Analyst – Sustainable Finance, Japan & APAC (Multiple locations | CloseDate: Unknown)
(https://careers.spglobal.com/jobs/296815?lang=en-us)