Stock exchanges
Exchanges are relative newcomers to the SRI market and the World Federation of Exchanges has only recently gathered together a collection of best-practice initiatives. These include:
- Support for SRI indices
- Guidance on best practice in disclosure
- The inclusion of sustainability considerations within listing rules
- Creation of exchanges for new sustainable markets (e.g. for carbon markets)
- Active targeting of sustainable market opportunities (e.g. actively marketing the exchange to clean tech IPOs)
Exchanges appear to be at the earliest stages of identifying how they should interpret the growing demand for SRI. In this respect, the following report may be of most use to them:
- SRI Primer – which considers SRI from first principles and aims to address all of the questions that newcomers may have about the industry. For the more advanced, it also describes 21 distinct SRI strategies, outlines progress in 5 asset classes and addresses the question of ‘proof, prejudice & investment performance’
Exchanges are likely to use the following services from SRI-CONNECT:
Market Buzz & Research
- Receive news, research and reports from industry participants – also notifications of discussions, events and blogs – all filtered to their own specific interests
- Search the SRI-CONNECT database for research and reports
- Channel their own news to SRI industry participants with mutual interests
Directory, networks & discussion
- Present themselves and their SRI activity clearly to the market and to view the profiles of other market participants
- Participate in events ranging from company briefings to industry conferences
- Discuss industry developments with customers, peers and suppliers
- Build and manage their own SRI network via the groups, events and messaging functions
===
Build profile, distribute research, share ideas
Stock exchanges can:
- Use Market Buzz to raise the profile of their research and share their opinions with investors and analysts (About Market Buzz | Post research & reports)
- Use the Directory to highlight their organisational and individual capabilities and interests (About Directory | Update your organisation's profile | Update your personal profile)
- Advertise events (About Events | All events)
- Monitor the developing profile of their firm and research with sustainable investment industry
- Response to requests for research made via the Research Marketplace
Learn & interact
Stock exchanges can:
- Receive research that matches their areas of focus (About Market Buzz | View the latest buzz)
- Learn about the dynamics of the sustainable investment industry (SRI Primer | Ecology of SRI | Trends & opinion)
- Join discussions (All Discussion Groups)
- Make connections & send messages
Other
... and like all members of the network, they can:
- Careers, skills & jobs: Employ others and develop their own skills & careers
- People & networks: Network with, follow and engage with others
Note
These special conditions govern the access of NGOs to SRI-Connect
Individuals 50 of 5,800 results
Organisations 50 of 8,192 results
Buzzes 50 of 14,170 results
TPI Chair’s reflection on the TPI State of the Corporate Transition 2025 report
TPI Chair’s reflection on the TPI State of the Corporate Transition 2025 report
(https://www.transitionpathwayinitiative.org/publications/137/show_news_article)
Three findings that stand out to me amidst the important insights in the Transition Pathway Initiative (TPI) State of the Corporate Transition 2025 report are:
- Compared to the 2024 assessment, there has been an increase in the number of companies that have set long-term net zero targets. However, short- and medium-term commitments remain lacking.
- Most companies continue to fail to disclose transition plans detailing how they intend to achieve their targets.
- There is a disconnect between the targets or ambitions that companies are setting and their actual emission reductions reported.
Continue to read here: https://www.transitionpathwayinitiative.org/publications/137/show_news_article
TPI Strategic Advisory Committee Reflection: State of the Corporate Transition 2025
TPI Strategic Advisory Committee Reflection: State of the Corporate Transition 2025
(https://www.transitionpathwayinitiative.org/publications/136/show_news_article)
TPI State of the Corporate Transition 2025: headlines for investors
TPI Centre: Webinar alert - State of the Banking Transition 2025 on 28 October
TPI Centre: Webinar alert - State of the Banking Transition 2025 on 28 October
(https://lse.zoom.us/webinar/register/WN_-dv4SycIRyK7cyzwrUoLxg#/registration)
- Date: Tuesday 28 October 2025
- Time: 4pm GMT, 12pm ET, 10am CT
- Register here: https://lse.zoom.us/webinar/register/WN_-dv4SycIRyK7cyzwrUoLxg#/registration
- Torsten Ehlers, Principal Economist, Bank for International Settlements, Office for the Americas
- Sonja Gibbs, Managing Director and Head of Sustainable Finance, Institute of International Finance (IIF)
- Tina Radovic, Global Head of Credit Research, Fixed Income, HSBC Asset Management
- Moderator: Valentin Jahn, Deputy Director of Research and Operations, TPI Centre, LSE
Wheelan: It’s time for a new baseball cap: MESGA. Making ESG Great Again!
Wheelan: It’s time for a new baseball cap: MESGA. Making ESG Great Again!
(https://hughwheelan.substack.com/p/we-need-more-esg-not-less)
We need more ESG not less
I’m getting a bit fed-up with the kicking down on ESG.
And I don’t just mean the ‘MAGA/anti-woke’ movement in the US who are shitting on ESG from a great height with their fiduciary cancel-culture (i.e. telling investors how they should invest).
No, what irks me at the moment are commentators dismissing ESG with a rhetorical quip.
What bothers me more is that I respect many of them.
But what irritates me even more is that some of what they’re saying is right, while much is facile and counter-productive.
Firstly, let’s take a great two-part article by Michael Liebreich, founder of Bloomberg New Energy Finance (and part of an equally insightful blog that everyone should read).
Schroders capital: Why operational energy transition infrastructure can be a perfect fit for DC pensions
Schroders capital: Why operational energy transition infrastructure can be a perfect fit for DC pensions
Investing in long-term operational energy transition infrastructure, especially within a semi-liquid structure, could help schemes balance liquidity and risk-return requirements, while also meeting broader sustainability objectives.
Vert AM (via GreenMoney): How big tech and data centers are solving the cloud’s growing energy appetite with renewables
Vert AM (via GreenMoney): How big tech and data centers are solving the cloud’s growing energy appetite with renewables
By Sarah Adams, Vert Asset Management
Artificial intelligence (AI) may be software, but it is built from hardware: steel, copper, concrete, and energy. Every search query, AI-generated image or digital transaction routes through a data center, the brick-and-mortar to the cloud. These facilities, ranging from modest colocation sites to sprawling hyperscale campuses, run 24/7 to store and process the data behind cloud computing, AI, streaming and more.
The companies that own and operate this infrastructure fall into two groups: hyperscale cloud providers like Amazon Web Services (AWS), Google and Microsoft, and the real estate owners such as real estate investment trusts (REITs) like Digital Realty and Equinix.1,2 Hyperscalers are no longer just tenants, and data center REITs are not just landlords. Both the tenant and the landlord are now active energy market makers who are reshaping how power is sourced, scheduled and delivered."
... includes ...
- Grappling with increased energy demand
- Four ways Data Center REITs and Hyperscalers are reinventing energy procurement
CleanEdge (via GreenMoney): Grid investments in the Age of Electrification, AI and Data Ascendency
CleanEdge (via GreenMoney): Grid investments in the Age of Electrification, AI and Data Ascendency
By Ron Pernick, Clean Edge, Inc.
"When Joel Makower and I cofounded Clean Edge back in 2000, we had a very clear sense that a host of emerging clean technologies – spanning renewables, the grid, transportation, and more – would experience learning curves and growth trajectories more akin to the internet and computers than to extractive energy sectors such as oil and gas. In hindsight, this thesis seems obvious, but at the time it was a radical concept that was just being embraced by a small cohort of tech and investment experts who had witnessed similar breakthroughs in the high-technology sector. After 25 years, clean tech and high tech are now firmly converging, especially at the intersection of the electric grid."
... includes ...
- Lowest cost and fastest to deploy
- Five key opportunities
- Defining the grid
Impax: Stormwater management: adapting to a wetter world
Impax: Stormwater management: adapting to a wetter world
(https://impaxam.com/insights-and-news/blog/stormwater-management-adapting-to-a-wetter-world/)
As global temperatures rise, extreme rainfall is becoming more common. The more frequent flooding events that follow carry rising human and financial costs. In the five years to 2022, economic losses from global floods totalled US$286bn, up 40% on the preceding five-year period.1
Rising incidence and value at risk from floods is expected to drive surging investment in stormwater infrastructure. We believe this will support demand for innovative products and services that help better manage risks to property and life.
A hard rain’s a-gonna fall
... includes ...
- Urban infrastructure
- Infrastructure capex requirements
nab impact investing: Blended Finance - A potential catalyst to mobilise capital for impact
nab impact investing: Blended Finance - A potential catalyst to mobilise capital for impact
(https://www.nabimpactinvesting.nl/post/blended-finance)
The NAB (Netherlands Advisory Board on impact investing) has released a research report presenting the results of a systematic and comparative review of how blended finance mechanisms could function across a diverse set of fund structures, investment strategies, and sectors. By aligning impact objectives with commercial capital requirements, blended finance offers a powerful pathway to mobilise private investment at scale and accelerate progress towards the Sustainable Development Goals (SDGs).
MSCI: State of Integrity in the Global Carbon-Credit Market
MSCI: State of Integrity in the Global Carbon-Credit Market
Ensuring high levels of integrity remains central to scaling the global carbon-credit market. Buyers of carbon credits need ever greater assurance that the credits they are buying have the intended impacts.
Our 2025 State of Integrity in the Global Carbon-Credit Market Report provides insight into the initiatives that are helping to enhance confidence in the carbon-credit market. Our research reveals how integrity standards are rising, why demand for high-quality projects is outstripping supply and how systemic risks — from delivery delays to governance gaps — are reshaping market dynamics. Drawing on MSCI Carbon Project Ratings covering more than 4,400 registered projects and nearly 250 in the pipeline, this report offers investors and market participants a data-driven lens into the forces shaping carbon-credit quality.
LSEG: The Green Economy: What it is and why it matters
LSEG: The Green Economy: What it is and why it matters
(https://resourcehub.lseg.com/c/inside-green-economy)
The green economy generated over US$5 trillion in annual revenues for the first time last year, making up nearly 9% of listed market capitalisation. It represents a significant growth opportunity and an increasing number of companies and investors are keen to understand its parameters and its potential.
The green economy is composed of companies that provide products and services with environmental benefits. These include climate and environmental solutions such as renewable energy generation, energy-efficient buildings, electric vehicle (EV) manufacturing, clean water infrastructure, waste management and pollution control.
Includes:
- The green economy is large and growing rapidly
- The green economy by products and services
- The green economy across traditional industries
- A global story
- The green economy is outperforming amid short-term volatility
- Performance, progress and future potential
LSEG: The Green Economy: What it is and why it matters
LSEG: The Green Economy: What it is and why it matters
(https://resourcehub.lseg.com/c/inside-green-economy)
The green economy generated over US$5 trillion in annual revenues for the first time last year, making up nearly 9% of listed market capitalisation. It represents a significant growth opportunity and an increasing number of companies and investors are keen to understand its parameters and its potential.
The green economy is composed of companies that provide products and services with environmental benefits. These include climate and environmental solutions such as renewable energy generation, energy-efficient buildings, electric vehicle (EV) manufacturing, clean water infrastructure, waste management and pollution control.
Includes:
- The green economy is large and growing rapidly
- The green economy by products and services
- The green economy across traditional industries
- A global story
- The green economy is outperforming amid short-term volatility
- Performance, progress and future potential
LSEG: Adaptation solutions: The investment opportunity in climate resilience
LSEG: Adaptation solutions: The investment opportunity in climate resilience
(https://resourcehub.lseg.com/c/adaptation-solutions?x=KzdJzr)
LSEG’s latest analysis of the green economy presents first-of-its-kind insights into the US$1 trillion investment opportunity in climate adaptation and resilience.
Includes:
- Share of FTSE All World Constituents citing adaptation measures in their corporate disclosures - by industry
- Identifying a trillion-dollar industry
- Bond market exposure
- The future of the adaptation economy
AP4: Annual Report 2024
AP4: Annual Report 2024
(https://www.ap4.se/globalassets/rapporter-och-innehav/2024/ap4-annual-report-2024-eng.pdf)
Integrated annual report including sustainability reporting and fund governance. Covers stewardship approach, voting statistics, TCFD tables and carbon metrics for 2024.
AP3: Stewardship Report 2025
AP3: Stewardship Report 2025
(https://a.storyblok.com/f/257759/x/e8d5f648fb/ap3-stewardshipreport-2025-en.pdf)
Annual stewardship report summarising engagement activity, escalation and voting outcomes for the year to 30 Jun 2025. Describes governance, priorities and case studies across the portfolio.
Robeco: Less waste, more value: the case for upstream circular solutions
Robeco: Less waste, more value: the case for upstream circular solutions
‘Reduce, reuse, recycle’ is a widely recognized slogan of the circular economy. But those terms carry immensely different weights for firms and investors. We explain why recycling is a circular solution of last resort, while broadening to upstream solutions can help produce better outcomes for the environment and portfolios.
Summary
- Recycling and waste collection are low-value solutions
- Upstream solutions generate more value, eliminating waste before it starts
- Broader circular scope, boosts resource efficiency and return potential
Air France-KLM: Sustainability Statement 2025
Air France-KLM: Sustainability Statement 2025
(https://www.airfranceklm.com/sites/default/files/2025-05/sustainability-statement.pdf)
AF‑KLM sustainability information integrated in reporting; see sustainability statement - link below - and press materials.
Ryanair: Sustainability Statement 2025
Ryanair: Sustainability Statement 2025
(https://corporate.ryanair.com/wp-content/uploads/2025/09/Ryanair-Sustainability-Report-2025.pdf)
First‑tranche CSRD Sustainability Statement with PwC limited assurance; complements 2025 Annual Report.
LSEG: Sustainability Report 2024
LSEG: Sustainability Report 2024
(https://www.lseg.com/content/dam/lseg/en_us/documents/reports/lseg-sustainability-report.pdf)
This report contains commentary on London Stock Exchange Group’s (LSEG) sustainability-related
activities during the fiscal year 1 January 2024 to 31 December 2024.
NVIDIA: Sustainability Report Fiscal Year 2025
NVIDIA: Sustainability Report Fiscal Year 2025
FY25 sustainability report with metrics and external assurance on GHG and renewable electricity.
ARM Holdings: Responsible Business Report 2025
ARM Holdings: Responsible Business Report 2025
"Our Sustainable Business Report provides a comprehensive overview of our environmental, social, and governance (ESG) performance, highlighting the progress we've made to support our people, empower our communities, and contribute meaningfully to society."
Whitbread: Environmental, Social and Governance Report 2024/25
Whitbread: Environmental, Social and Governance Report 2024/25
‘Force for Good’ ESG report covering:
- decarbonisation;
- resource use;
- social mobility and community;
... with policies and assurance references.
Nomura AM: Responsible Investment Report – Q1 2025
Nomura AM: Responsible Investment Report – Q1 2025
(https://www.nomuranow.com/portal/site/nam-hk/resources/assets/reports/2025/NAM_UK_1Q25_RI_Report.pdf)
Quarterly RI report summarising engagements and voting highlights across regions; supplements the annual UK Stewardship Code submission.
PGGM: Annual Report of PGGM N.V. 2024 (English translation)
PGGM: Annual Report of PGGM N.V. 2024 (English translation)
(https://www.pggm.nl/media/te1l3500/annual-report-of-pggm-n-v-2024.pdf)
Corporate annual reporting for PGGM N.V. covering 2024 with sections on responsible investment, governance and stewardship activities executed for PFZW.
MUFG Report 2025 (Integrated group report; includes RI/stewardship sections)
MUFG Report 2025 (Integrated group report; includes RI/stewardship sections)
(https://www.mufg.jp/dam/ir/report/annual_report/pdf/ir2025_all_en.pdf)
Integrated report for FY2024–25 including sustainability and stewardship sections across MUFG entities; NB no separate AM stewardship annual identified in-window.
BMO GAM: Responsible Investment Stewardship Report Calendar Q1 YTD 2024
BMO GAM: Responsible Investment Stewardship Report Calendar Q1 YTD 2024
Quarterly stewardship summary (engagement, proxy voting, policy advocacy); NB no newer annual stewardship report identified in-window.
Railpen: Stewardship Report 2024
Railpen: Stewardship Report 2024
(https://www.railpen.com/media/42sb0uof/2024-stewardship-report.pdf)
Annual stewardship report setting out 2024 engagement outcomes and the updated 2025 Global Voting Policy.
ARE: India’s Power Sector: a Primer
ARE: India’s Power Sector: a Primer
India has built the world’s largest unified electricity grid and achieved its target of 50% renewable installed capacity five years ahead of schedule.
But generating, transmitting, and distributing 485 gigawatts of power while integrating the rapid expansion of clean energy is a hugely complex undertaking.
This report untangles India’s enormous power market, offering a comprehensive analysis of the players, regulators, policies, and market innovations shaping the country’s grid, and the challenges facing the industry as it charts a path to a renewables-dominated future.
ARE: Bridging the Gap: Have ASEAN Banks Caught Up on Climate Action?
ARE: Bridging the Gap: Have ASEAN Banks Caught Up on Climate Action?
(https://asiareengage.com/bridging-the-gap-have-asean-banks-caught-up-on-climate-action/)
"Asia is one of the world’s most vulnerable regions to the impacts of climate change, yet its contribution to global emissions continues to increase.
Banks have a critical role to play in driving change, but true progress will only come when it is common practice for Asia’s biggest lenders to systematically address climate change considerations with their clients.
This report provides a timely update on the progress banks in Thailand, Malaysia, Indonesia, and the Philippines have made since ARE’s touchstone 2022 study “Banking Asia’s Future”.
While we find steady improvements, significant gaps remain, and regional banks now risk falling further behind peers in Singapore, Japan, and South Korea. Our latest report identifies the key challenges that remain and offers a series of actions lenders can take to capture the opportunities of climate leadership and drive Asia towards a low-carbon future."
Andrews, Sene, Hadzilacos: How can my portfolio be Paris-aligned when the world isn’t?
Andrews, Sene, Hadzilacos: How can my portfolio be Paris-aligned when the world isn’t?
How can portfolios claim to be Paris-aligned when the world is on track for more than 2°C?
Paris Alignment depends on how the finite global carbon budget is managed. There are different alignment methods of assessing temperature alignment for a company or a portfolio. They can be broadly categorised as either static-budget or dynamic-budget approaches and those shape our understanding of whether companies and portfolios are Paris-aligned or not.
A static approach fixes a decarbonisation rate, while a dynamic approach adjusts budgets as real-world emissions evolve. Let’s be clear - there is no such thing as a perfect alignment metric. Static-budget approaches offer simplicity, while dynamic-budget tools provide accuracy. What should matter for investors is understanding what they measure and what use case they aim for since each method can produce different answers – and different investment decisions.
So for investors, the choice between metrics isn’t abstract. Alignment metrics shape climate disclosures, product labelling, and transition plans. Misinterpreting them risks building strategies on the wrong assumptions.
NASA learned this lesson in 1999, when the Mars Climate Orbiter was lost because engineers mixed up metric and imperial units. In sustainable finance, misinterpreting Paris alignment metrics may not be rocket science, but the risks to strategy and credibility are real.
#SustainableInvestment #ParisAgreement #NetZero #EnergyTransition #ESGInvesting #CarbonBudgets #ClimateMetrics #Investment
Allianz GI: Powering down to power up - energy efficiency explained
Allianz GI: Powering down to power up - energy efficiency explained
Key takeaways
- Energy efficiency – ie, achieving the same outcome but using less energy – is the fastest and most cost-effective decarbonisation strategy but remains underdeveloped.
- Being more energy efficient requires minimising energy lost at every stage of the value chain – from raw inputs to end use.
- A spectrum of solutions present investment opportunities, from those reducing energy demand to shifts in business models and innovative financing structures.
CDP: Transforming Markets: The Rise of Earth-positive Economics
CDP: Transforming Markets: The Rise of Earth-positive Economics
(https://www.cdp.net/en/insights/transforming-markets-the-rise-of-earth-positive-economics)
Markets thrive on information. Trusted and standardized intelligence informs confident positions that build value.
Economic theory is based on data. It tracks actions and reactions together with the price economic actors are willing to pay for inputs and outputs. Scarcity is a fundamental tenet of economic theory and, when paired with supply and demand, creates the building blocks of productive economies. Economic actors in both the public and private sector engage in decisions based on scarcity, supply and demand every day.
Many of our most vital economic sectors such as construction, agriculture, food and beverage, technology, and transportation, rely on scarce inputs that come from our natural world; water, energy, land, oceans.
Therefore, it is fair to ask: why didn’t we integrate data on climate and nature into the fundamentals of economics at the outset? After all, traditional metrics such as GDP require inputs and outputs, much of these driven by a reliance on the natural world.
Calls from economists for a different approach to economic reviews are nothing new – where Lord Stern first stressed the economic impact of climate change, Partha Dasgupta widened the view to incorporate biodiversity.
There is no shortage of data to support their position: the total value of the world’s forests is estimated at US$150 trillion. Meanwhile, projections show that global electricity demand from data centers is set to more than double by 2030, whilst also driving up consumption of water to 1200 billion litres annually.
Are we in a crisis of economics?
We are certainly at a time of opportunity. We know that navigating unpredictable market conditions successfully depends on having access to information and data that will act as a compass, charting the course forward. So, shouldn’t we expand our economic fundamentals and factor in environmental datasets to reset our definition of value?
MSCI: From Awareness to Action: Sector-Based Biodiversity Risk in Investments
MSCI: From Awareness to Action: Sector-Based Biodiversity Risk in Investments
Preview
Biodiversity underpins the resilience of global markets, yet its decline is accelerating, driven by land-use change, overexploitation and pollution. Companies depend on healthy ecosystems for water, fertile soil and pollination, but many simultaneously erode these services, creating risks from stranded assets and regulatory penalties to supply-chain disruption and reputational damage.
In this report, we carried out a sector-based analysis that highlighted agriculture, mining, forestry and energy as key biodiversity risk drivers. The findings can help investors to pinpoint concentrated exposures, guide engagement and reduce impacts.
The implications are twofold: Unmanaged biodiversity risks can erode portfolio value and amplify systemic vulnerabilities, while proactive integration of biodiversity factors enhances resilience and opens opportunities. As markets reward companies aligned with nature-positive strategies, capital allocation that accounts for biodiversity may deliver both downside protection and potential upside.
MSCI: Five Takeaways for Investors from Climate Week NYC 2025 (blogpost)
MSCI: Five Takeaways for Investors from Climate Week NYC 2025 (blogpost)
Key findings
- Capital is driving (or chasing?) the transition: Markets are stepping in, differentiating winners and losers as the shift from fossil fuels to renewables gains ground where the economics already work.
- Physical risk is here now: Extreme weather is already costing companies billions, pushing investors to apply geospatial analytics and assess exposures at the asset level before risks cascade into systemic shocks.
- Carbon markets are maturing: International trading frameworks are emerging, with integrity and cooperation key to unlocking private capital — and likely to dominate discussions heading into COP30.
Sustainalytics: Trouble Brewing: How Labor Disputes Impact ESG Risk at Starbucks and the Restaurants Industry
Sustainalytics: Trouble Brewing: How Labor Disputes Impact ESG Risk at Starbucks and the Restaurants Industry
Key Insights:
- For investors, labor rights violations are no longer just an ethical concern. They pose financial risks, as the associated reputational damage, operational disruption, and legal liabilities can directly impact a company’s bottom line.
- The absence of strong collective bargaining in the Restaurants sub-industry highlights a potential area of vulnerability for these companies in managing labor relations and mitigating long-term risks.
Sustainalytics: Assessing Climate Transition Plans: Leveraging Data to Serve Investors’ Strategies
Sustainalytics: Assessing Climate Transition Plans: Leveraging Data to Serve Investors’ Strategies
Key Insights
- While financing issuers on a robust decarbonization pathway is a win-win for investors and for the climate, evidence of systematic forward-looking assessments of climate transition plans remains scarce.
- This is due, in part, to inertia, lack of resources, misalignment between transition plan frameworks – the World Benchmarking Alliance (WBA) had counted 28 of them in 2023 – and the lack of regulatory guidance on what investors should look at.
- Investors can leverage climate transition risk and management data to serve different use cases and build proprietary tools that are aligned with existing climate frameworks, such as the Net Zero Investment Framework 2.0.
Sustainalytics: Defense: Assessing New Investment Opportunities Through an ESG Lens
Sustainalytics: Defense: Assessing New Investment Opportunities Through an ESG Lens
Key Insights:
- Rising global defense spending is creating investment opportunities, even for sustainability-oriented investors. Morningstar Sustainalytics’ universe includes around 860 public and private companies involved in military contracting.
- Of these, 73% provide supporting products and services to the sector, such as technology, equipment, and machinery. Many of these firms are involved in non-weapon-related activities.
- Approximately 27% of military contractors in our universe are based in Europe.
While European regulation does not pose a barrier to financing or investing in defense companies, market participants are still expected to conduct thorough ESG due diligence. - The most relevant ESG risks for defense firms stem from business ethics, product governance, and environmental issues.
Sustainalytics: Voice of the Asset Owner Survey 2025 Quantitative Analysis
Sustainalytics: Voice of the Asset Owner Survey 2025 Quantitative Analysis
The Takeaway
- More than three in four (76%) asset owners globally view increasing trade disputes as material to their investments, with this trend consistent across all regions.
- Four in ten asset owners report reducing - or planning to reduce - their allocations to US assets, citing factors like currency risk and policy uncertainty.
- Asset owners put climate transition readiness (56%), energy management (48%), and physical climate risks (42%) at the top of their list of most material environmental factors.
- In 2024, over one-half (53%) of asset owners surveyed said that ESG considerations go hand in hand with fulfilling their fiduciary duty. As of 2025, this number has increased to 61%.
Wellington: Evaluating human capital management amid AI adoption: A guide for investors
Wellington: Evaluating human capital management amid AI adoption: A guide for investors
(https://www.wellington.com/en/insights/evaluating-human-capital-amid-ai-adoption)
Key points
- Amid excitement about the potential for artificial intelligence (AI) to drive productivity, innovation, and profits, corporate culture and human capital management (HCM) will become more important considerations, not less.
- Research shows that strong workforce initiatives and talent development are critical for success when adopting any new technology. We expect these practices to likewise distinguish companies that reap AI’s benefits from those that struggle with its adoption.
- Here, we outline human capital topics for investors to research and discuss with management teams as companies pursue AI benefits.
LSEG: Quantifying the Unseen: Building a Nature and Biodiversity Risk-Adjusted Sovereign Index
LSEG: Quantifying the Unseen: Building a Nature and Biodiversity Risk-Adjusted Sovereign Index
FTSE Russell/Axa Climate
Nature and biodiversity are increasingly recognised as material factors in corporate governance and investment decision-making. This shift reflects a growing understanding of the systemic risks that environmental degradation poses to businesses and economic stability.
While methodologies have been developed to incorporate nature-related risks into asset classes such as equities, corporate bonds, infrastructure, and private equity, their application to sovereign debt remains limited and underexplored.
Nonetheless, governments are stewards of vast natural assets and highly exposed to ecosystem degradation. As the materiality of nature loss becomes more evident—from reduced agricultural productivity and water stress to increased disaster vulnerability—it is essential to integrate ecological considerations into sovereign risk frameworks.
To help investors start their journey towards nature analyses at the country-level, we published a first paper called “Mapping the unseen: Unveiling nature and biodiversity data for sovereigns”. This first paper aimed to provide clarity on the main nature-related concepts and to survey the datasets to be used for a sovereign assessment.
LSEG: Rethinking Sovereign Debt to Finance the Climate Transition
LSEG: Rethinking Sovereign Debt to Finance the Climate Transition
FTSE Russell/ING/Robeco
Governments are at the forefront of the fight against climate change, setting national climate policies, directing public funds towards sustainable projects, and creating regulatory environments that incentivize private sector participation. More specifically, through fiscal policies, subsidies, and direct investments, they can catalyze large-scale climate action and fast-track the low-carbon transition.
However, climate change mitigation and adaptation require substantial financial resources. Governments might increasingly turn to financial markets to raise funding through sovereign bond issuances. This provides an opportunity for sovereign debt investors to finance the low-carbon transition and encourage governments to implement robust climate policies.
RUSI: Are ESG Standards the Scapegoat for Stalling Defence Growth?
RUSI: Are ESG Standards the Scapegoat for Stalling Defence Growth?
European states are currently seeking to significantly increase their defence production capacity. Europe’s defence industry needs additional capital to invest in the machines and workforce to create this capacity. In the public debate about how to approach this, the trend towards environmental, social and governance (ESG)-oriented investments has been considered by some stakeholders and commentators as responsible for a lack of much-needed capital.
This paper tests these claims and proposes measures for policymakers in the UK, and for stakeholders in the finance industry, to facilitate continue growth in the defence sector.
This paper finds that ESG disclosure and labelling regimes, as well as many investors’ own ESG investment approaches, generally do not preclude financing and investment in defence and have little impact on the defence industry’s access to capital.
Some fund managers have implemented defence-specific exclusions in the funds they manage and brand as sustainable. But such exclusions of entire sectors are not mandated by ESG rules. Indeed, funds integrating ESG factors must be distinguished from ‘ethical’ funds, a much narrower category of funds that generally cater to various client preferences and can often broadly exclude defence-related businesses from their portfolios.
These ethical funds only constitute a small share of total assets under management. However, funds that brand themselves as ‘sustainable’ can implement sector-wide exclusions that are not mandated by regulations. This can create public confusion over how defence fits within ESG reporting and labelling frameworks.
Osmosis IM: The Hidden Carbon Cost of Water and Waste Mismanagement
Osmosis IM: The Hidden Carbon Cost of Water and Waste Mismanagement
(https://www.osmosisim.com/the-hidden-carbon-cost-of-water-and-waste-mismanagement/)
Key Takeaways
- Focusing solely on carbon emissions overlooks the significant climate impacts associated with poor water and waste management.
- As carbon, water and waste are intrinsically interlinked, climate change worsens the impacts of landfill waste and water scarcity.
- “Green” strategies corporations use to address excessive waste generation and water scarcity are often energy-intensive, carbon-emitting and high-cost.
- Sustainability efforts should prioritise proactive strategies that prevent over-consumption, rather than reactive solutions that merely address the consequences of excessive resource use.
- The truly sustainable solution is the reduction of energy use, waste generation and water withdrawal by increasing operational efficiency.
Clarity AI: Physical Climate Risks: Are Companies’ Scenarios Reliable?
Clarity AI: Physical Climate Risks: Are Companies’ Scenarios Reliable?
We examined the extent to which global companies’ disclosures indicate sound practices in climate scenario analysis. Our goal was to evaluate the initial phase of strategic management—namely, physical risk assessment—without extending into risk management.
Although scenario analysis is becoming more common, only 30% of companies meet all our criteria for comprehensive analysis, with significant regional differences.
Carbon Transition Analytics & Carbon Tracker: Measuring Transition: AMNS
Carbon Transition Analytics & Carbon Tracker: Measuring Transition: AMNS
(https://carbontransitionanalytics.com/research-analysis/amns-company-report/)
To attract transition and concessional financing, Indian steel companies will need to produce credible transition plans. This report is the fourth in a series of company-focused assessments on the transition performance of the Indian steel majors.
While steel production is vital for India’s development goals, limited access to raw materials, natural gas, and steel scrap makes it difficult to scale without deploying carbon-intensive technologies. This strategy poses a threat to company CO2 targets and could impact future profitability.
In this report, we analyse the state and outlook for AMNS (ArcelorMittal Nippon Steel India) in its strategy to grow steel capacity to 40 Mtpa in India by 2035 while reducing CO2 intensity.
Key insights from the report include:
- AMNS does not have a net zero target – Insofar as AMNS does not specify a net zero target year, it does not have net zero target. Its CO2 goals align with India’s NDC, but only if its net zero target is assumed for 2070 or earlier.
- Limited access to carbon storage sinks for CCS – With most of AMNS’ proposed greenfield capacity situated in the east, the company is unlikely to gain timely access to carbon sinks.
- Capacity plans risk nearly double target emissions – AMNS’ plans entail around 60 Mtpa of BF-BOF capacity by the early 2040s, which could exceed its target carbon budget by nearly 100%.
- Capacity plans incompatible with India NDC – Even in the most optimistic CCS scenario, CO2 emissions from AMNS’ capacity plans would overshoot the sectoral budget as storage access arrives too late.
- Future projects carry high risk of carbon lock-in – Of an estimated US$68bn of future project capital, 75% falls into the high-risk category for carbon lock-in.
- Tangible steps towards optimised transition plan – To stay within a 2070 net zero carbon budget, AMNS can install no more than 4-5 new blast furnaces, yet it has up to 12 in the pipeline. Reconsidering its 24Mtpa Kendrapara project could avoid lock-in from 5 BFs.
- Options to reduce CBAM exposure – While CBAM tariffs could amount to a 33% cost penalty on EU exports in 2030, and 66% in 2034, AMNS can reduce this by focusing exports from its natural gas based DR-EAF capacity at Hazira.
Schroders: Q1 and Q2 SI Reports
Schroders: Q1 and Q2 SI Reports
Quarterly stewardship/engagement updates for 2025; includes Just Resilience toolkit, engagement examples and voting stats.
Newton: Sustainability & Stewardship – Annual Report 2024 / UK Opportunities strategy (Q2)
Newton: Sustainability & Stewardship – Annual Report 2024 / UK Opportunities strategy (Q2)
Annual firm‑wide report setting out stewardship governance, 2024 engagement themes and proxy‑voting statistics; includes escalation framework and outcomes.
Annual report here
Strategy‑level responsible investment & stewardship update through 30 Jun 2025. Summarises engagement objectives, selected outcomes, and global voting highlights.
Q2 report here
Generation Investment Management: Stewardship Report 2024
Generation Investment Management: Stewardship Report 2024
(https://www.generationim.com/media/cx4nihdu/gim-stewardship-report-2024_final-june-2025.pdf)
Annual, UK Stewardship Code‑aligned report for the 2024 year. Covers firm‑wide engagement priorities, outcomes, voting, and policy advocacy; includes case studies and KPIs.
Prologis: Global Impact & Sustainability Report 2024-25
Prologis: Global Impact & Sustainability Report 2024-25
Global impact and sustainability performance, with separate data supplement and TCFD report.
Kimberley-Clark: Sustainability Report 2024
Kimberley-Clark: Sustainability Report 2024
(https://www.kimberly-clark.com/en-us/sustainability/key-downloads)
Narrative sustainability report with GRI/SASB references; published June 2025.
Jobs 50 of 449 results
Carbon Performance Research Assistant, TPI Global Climate Transition Centre (TPI Centre)
Carbon Performance Research Assistant, TPI Global Climate Transition Centre (TPI Centre)
(https://www.transitionpathwayinitiative.org/work-with-us)
The role will primarily be based within the Carbon Performance team, though you may also be asked to support other projects as required.
Carbon Performance assesses corporate progress towards a low-carbon economy. The team develops emissions pathways for companies across 12 high-emitting sectors and ensures these benchmarks align with the latest climate modelling. This data is used by investors to inform engagement strategies, assess portfolio alignment, and drive capital toward credible transition leaders.
Policy Analyst (Banking), TPI Global Climate Transition Centre
Policy Analyst (Banking), TPI Global Climate Transition Centre
(https://www.transitionpathwayinitiative.org/work-with-us)
JobPost: GSAM - Asset & Wealth Management, Sustainable Investing Group, Associate - New York
JobPost: GSAM - Asset & Wealth Management, Sustainable Investing Group, Associate - New York
(https://higher.gs.com/roles/143649)
This role is for the investment team within the Horizon Inclusive Growth Fund. The Horizon Inclusive Growth Fund is a growth-oriented, mid-market private equity strategy which seeks to invest in companies developing solutions addressing accessibility and affordability across Healthcare, Education & Workforce Development, and Financial Inclusion.
JobPst: State Street - Proxy Voting Strategy and Oversight, Assistant Vice President (London)
JobPst: State Street - Proxy Voting Strategy and Oversight, Assistant Vice President (London)
"Are you looking for a dynamic role where your analytical skills and attention to detail can shape global proxy voting strategies? Join a leading asset management team to enhance operational processes, engage with stakeholders, and deliver impactful reporting—all while enjoying a hybrid work model."
JobPost: S&P Global - Index Manager - Digital Assets & ESG Indices (AmDam)
JobPost: S&P Global - Index Manager - Digital Assets & ESG Indices (AmDam)
(https://careers.spglobal.com/jobs/320157?lang=en-us)
The Team: The role will be part of the Index Management and Production Group (“IMPG”) at S&P Global. The team is responsible for the production and management of a wide range of indices covering global options, equities, futures, fixed income, commodity, digital assets and economics indices. This specific role will focus on the management and oversight of Digital Asset and ESG Equity indices, ensuring the integrity and accuracy of the indices through thorough research and analysis.
JobPost: BMO - Associate or Vice President, Carbon Sales (various locations Can, close 30/10)
JobPost: BMO - Associate or Vice President, Carbon Sales (various locations Can, close 30/10)
We are seeking a dynamic and results-driven sales professional to join our Corporate Sales team, focusing on the Voluntary Carbon Market (VCM). The ideal candidate will have a strong understanding of carbon offsetting mechanisms, sustainability strategies, and environmental commodities. Experience with Renewable Energy Certificates (RECs) is highly desirable and will be considered a significant asset. This role involves identifying and developing new business opportunities, managing client relationships, and driving sales of carbon credits. The ideal candidate will have a proven track record of VCM sales, strong analytical skills, and a passion for environmental markets.
JobPost: BlackRock - Investment Stewardship Associate (London)
JobPost: BlackRock - Investment Stewardship Associate (London)
(https://careers.blackrock.com/job/-/-/45831/86239969120?source=LinkedIn)
The role is based in London and the successful candidate will specialize in corporate governance, environmental, and social issues that impact company financial performance. The candidate will work with senior analysts covering several sectors across the EMEA markets for voting and engagement purposes and facilitate the overall development of team capabilities.
JobPost: Barclays - Sustainable Finance Business Manager - Strategy, London
JobPost: Barclays - Sustainable Finance Business Manager - Strategy, London
(https://search.jobs.barclays/job/-/-/13015/86435609136?src=JB-12860)
Join us at Barclays as a Business Manager in Sustainable Finance with a direct focus on strategy. You will be a key part of the Investment Banking Sustainable Finance Business Management team supporting the Global Head of Sustainable Finance to coordinate and support the development of the global strategy and key execution priorities for the Investment Bank. This will include preparing high quality executive level internal and external briefings. Additionally, you will manage cross-team collaboration to ensure the strategic objectives of the business area are met. In doing so, you will provide data led insights to aid these strategic decisions and act as a key entry point into the Sustainable Finance Management team for other central stakeholders across the Investment Bank.
JobPost: Citi - Environmental and Social Risk Management - Vice President (London)
JobPost: Citi - Environmental and Social Risk Management - Vice President (London)
The Environmental and Social Risk Management (ESRM) Vice President role for UK/EU is part of Citi’s Global Environmental and Social Risk Management team which sits within Citi’s Sustainability & ESG (Environmental, Social and Governance) team.
JobPost: Schroders - Greencoat - Head of Sustainability FTC (11 months) London
JobPost: Schroders - Greencoat - Head of Sustainability FTC (11 months) London
Head of Sustainability - Maternity Cover
JobPost: Vanguard - ESG Investment Product Manager, Specialist (London - note close 27 Sep)
JobPost: Vanguard - ESG Investment Product Manager, Specialist (London - note close 27 Sep)
Be the subject matter expert on Vanguard’s ESG products. To provide product expertise to clients and crew with great depth of knowledge on ESG, across fixed income and equity. To be a partner to the distribution businesses and investment teams to ensure the health and commercial success of Vanguard’s ESG product range.
JobPost: UBS - Research - EMEA Head of Sustainability (London)
JobPost: UBS - Research - EMEA Head of Sustainability (London)
EMEA Head of ESG & Sustainability
• Franchise lead for the EMEA ESG & Sustainability team, responsible for delivering EMEA ESG product and client strategy.
• Produce high quality published product, and client access events.
• Close collaboration with the wider EMEA research team to deliver sustainability product with a stock or sector conclusion (in addition to dedicated team product).
• Work closely with the Global ESG & Sustainability team on coordinated global product.
JobPost: GIIN - Manager, Global Events (NYC)
JobPost: GIIN - Manager, Global Events (NYC)
(https://jobs.thegiin.org/job/7051/manager,-global-events/)
The Manager, Global Events will play a key role in the planning and execution of high-impact events that advance the GIIN’s mission and engage diverse stakeholders. This role involves end-to-end event management, from crafting speaker invitations logistics, marketing, and budget oversight. The ideal candidate is a detail-oriented project manager with strong writing and creative skills who thrives in a collaborative environment.
JobPost: Cushman & Wakefield - Associate - UK ESG Client Investor Manager (London)
JobPost: Cushman & Wakefield - Associate - UK ESG Client Investor Manager (London)
RFP/consulting; Stewardship/engagement; Strategy
JobPost: M&G - Business Analyst Team Lead - Sustainability (London, close 30 Sep)
JobPost: M&G - Business Analyst Team Lead - Sustainability (London, close 30 Sep)
Reporting (CSRD); Data/analytics; Strategy
JobPost: Adidas - Senior Director Sustainability (Germany)
JobPost: Adidas - Senior Director Sustainability (Germany)
As Senior Director Sustainability, you will play a critical role in defining the direction for Sustainability & ESG and you lead the execution of our environmental Sustainability program, ensure delivery against key KPIs and targets in close collaboration across all functions, such as Product Development & Sourcing, Brand, Supply Chain Management, Finance, HR, Sales, Own Operations and develop cross-functional direction, guidance and upskilling on company’s sustainability efforts. You will be responsible to ensure a successful contribution of the environmental program to the overall ESG performance of the company.
JobPost: Apex Group - Senior Sustainability Advisory – Carbon & Climate (London / Amsterdam)
JobPost: Apex Group - Senior Sustainability Advisory – Carbon & Climate (London / Amsterdam)
Assurance; Reporting; Consulting; Climate/transition finance
JobPost: BMO Capital Markets - Specialist, Data Management and Governance (Toronto, Canada, close 29 Sep))
JobPost: BMO Capital Markets - Specialist, Data Management and Governance (Toronto, Canada, close 29 Sep))
Drives operationalization and sustainability of mature data management practices with a focus on data governance.
JobPost: LSEG - Sustainable Investment Data Ops Team Lead (Gdynia, Poland)
JobPost: LSEG - Sustainable Investment Data Ops Team Lead (Gdynia, Poland)
Data/analytics; Reporting (SFDR/CSRD)
JobPost: EBRD - Principal, InvestEU – Financial and Economic Analysis (London, close 19 Sep)
JobPost: EBRD - Principal, InvestEU – Financial and Economic Analysis (London, close 19 Sep)
(https://jobs.ebrd.com/job/London-Principal%2C-Invest-EU/1244675501/)
Climate/transition finance; Investment research; Impact/SDG strategy; Data/analytics
JobPost: PRI - Senior Specialist, Programme Management CA100+ (12 Month Fixed Term Contract - Family Leave Cover)
JobPost: PRI - Senior Specialist, Programme Management CA100+ (12 Month Fixed Term Contract - Family Leave Cover)
(https://app.beapplied.com/apply/tst5ibscv9)
Employment Type Part time
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 Senior
Closing: 8:00pm, 21st Sep 2025 BST
JobPost: Liverpool FC - Insights and Impact Manager - LFCF
JobPost: Liverpool FC - Insights and Impact Manager - LFCF
We have an exciting opportunity for an individual to join our Liverpool FC Foundation team as a Insights and Impact Manager.
You will be responsible for ensuring that the LFC Foundation can demonstrate the impact of its work to a wide range of stakeholders including staff, trustees, funders and the communities in which the Foundation operates.
The successful candidate will have demonstrable experience managing evaluation and research projects and extensive knowledge of using data systems such as Salesforce and Power Bi.You will be passionate and knowledgeable about different approaches and methods to obtain both quantitative and qualitative data.
JobPost: Barclays - Investment Banking – Sustainable Finance Performance and Climate Portfolio Management VP (London, close unknown)
JobPost: Barclays - Investment Banking – Sustainable Finance Performance and Climate Portfolio Management VP (London, close unknown)
(https://search.jobs.barclays/job/-/-/13015/85738115968?src=JB-12860)
JobPost: Franklin Templeton - Stewardship & Sustainability Analyst (London, close unknown)
JobPost: Franklin Templeton - Stewardship & Sustainability Analyst (London, close unknown)
JobPost: Franklin Templeton - Stewardship & Sustainability Analyst (London, close unknown)
JobPost: S&P Global - Senior Principal Analyst, Climate Risk and Opportunity (London, close unknown)
JobPost: S&P Global - Senior Principal Analyst, Climate Risk and Opportunity (London, close unknown)
(https://careers.spglobal.com/jobs/319163?lang=en-us&utm_source=linkedin)
JobPost: S&P Global - Senior Principal Analyst, Climate Risk and Opportunity (London, close unknown)
JobPost: JPMorganChase: Asset Management, Product Manager - Sustainable Investing & Stewardship - Associate/Vice President (London)
JobPost: JPMorganChase: Asset Management, Product Manager - Sustainable Investing & Stewardship - Associate/Vice President (London)
JobPost: JPMorganChase: Asset Management, Product Manager - Sustainable Investing & Stewardship - Associate/Vice President (London)
JobPost: M&G - Sustainability Manager – Sustainable Investment Frameworks (London, close 7 Sept)
JobPost: M&G - Sustainability Manager – Sustainable Investment Frameworks (London, close 7 Sept)
JobPost: M&G - Sustainability Manager – Sustainable Investment Frameworks (London, close 7 Sept)
JobPosts: Climate Policy Initiative - various openings and locations
JobPosts: Climate Policy Initiative - various openings and locations
JobPost: Aviva - ESG Fixed Income Analyst (London, close unknown)
JobPost: Aviva - ESG Fixed Income Analyst (London, close unknown)
JobPost: Aviva - ESG Fixed Income Analyst (London, close unknown)
JobPost: Boston Trust Walden - ESG Analyst (Boston, MA, close unknown0
JobPost: Boston Trust Walden - ESG Analyst (Boston, MA, close unknown0
The ESG Analyst is a key member of our dynamic in-house team responsible for evaluating current and potential portfolio investments and leveraging active ownership strategies — including company engagement, proxy voting, and public policy — to advance sustainable business practices. We seek experienced and accomplished candidates with exceptional research and analytical capabilities, superior communication and relationship management skills, and the ability to effectively manage time and deliver multiple projects with keen insight and attention to detail.
JobPost: Chanel - Senior Manager – Climate & Nature Impact Performance (Fixed-term, Maternity Cover) (London, close 30 Sept)
JobPost: Chanel - Senior Manager – Climate & Nature Impact Performance (Fixed-term, Maternity Cover) (London, close 30 Sept)
JobPost: Chanel - Senior Manager – Climate & Nature Impact Performance (Fixed-term, Maternity Cover) (London, close 30 Sept)
JobPost: ShareAction - Senior Research Manager - Banks
JobPost: ShareAction - Senior Research Manager - Banks
(https://cezanneondemand.intervieweb.it/shareaction/jobs/senior-research-manager-banks-55759/en/)
ShareAction’s Banking Standards team works towards holding financial institutions accountable for their impact on climate change. We have a history of campaigning on key aspects of banks’ climate strategies—such as their emission reduction targets or fossil fuel policies—and we are gradually expanding our work to include other sustainability themes and banking regulation. We have achieved significant wins, such as contributing to HSBC becoming the world’s largest bank to cease financing for new oil and gas fields, Barclays dramatically reducing its oil sands financing, and mobilising investors to call on Societe Generale to set a renewable energy target.
The team is structured around two main pillars: our campaigning and research pillar. The research pillar ensures that the team’s campaigning and advocacy work is based on sound analysis and facts. The Senior Research Manager oversees the research pillar, currently composed of three more junior researchers. The Senior Research Manager is responsible for developing and implementing a research strategy that underpins campaign needs for analysis and insight in line with campaign timelines and available resources. They oversee and contribute to the delivery of high-quality research outputs, including thematic reports, investor briefings, surveys of Europe’s largest banks, and ensure that they are underpinned by clear and robust research methodologies. Alongside the Head of Banking Programme and the Senior Campaign Manager, they act as an ambassador for the team in external forums, the media, and when meeting with and presenting to external stakeholders, including banks, civil society organisations, and investors.
Key responsibilities are detailed in the Job Description in the downloadable Candidate Pack.
If this role sounds like something that would build on your current skill set and engage you, we’d love to hear from you!
Applications will be reviewed regularly, and this advert may close earlier than stated if a suitable candidate is identified. You are therefore encouraged to apply as soon as you can. Previous applicants should not re-apply.