Trade unions

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

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

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

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

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

We have published our roundup from London Climate Action Week 2026. From corporate transition planning to the role of banks as enablers, and the geographical realities shaping the transition - here are some highlights from a week of conversations with companies, investors, banks and policymakers.

Published: March 2026 reporting cycle

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

Published: February 2026

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

Published: February 2026

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

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

Publication date: February 2026 

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

Publication date: 4 May 2026 

Comgest has published its Annual Stewardship Report 2025

Publication date: May 2026 

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

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

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

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

Publication date: April 2026 

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

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

EthiFinance has published 'European Companies Facing the Cybersecurity Challenge', a study of how listed European companies manage cybersecurity risk, drawing on its database of over 2,300 ESG ratings of European small-, mid- and large-cap issuers. It frames cyber risk as a core governance issue and maps management gaps across practices including integration into operational risk management, penetration testing, security certification and employee training.

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

Fisher Investments has published 'Why El Nino Doesn't Necessitate Portfolio Shifts', a MarketMinder commentary on the El Nino declared by NOAA in mid-June 2026. It argues extreme weather is a false fear for markets: the two prior 'super' El Ninos (1982-83 and 1997-98) coincided with US disinflation and economic expansion, not downturns.

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

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

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

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

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

JP Morgan has published 'Food security under pressure: Iran conflict disruptions and a brewing El Nino', the latest instalment of its Climate Intuition series by Dr Sarah Kapnick, Global Head of Climate Advisory. It warns that the Iran conflict is disrupting nitrogenous fertilizer supply - over 36% of global urea is imported from the Persian Gulf - while a developing El Nino historically cuts tropical agricultural production by around 3.5%.

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

Royal London Asset Management has published a new article examining the responsible investment dimensions of artificial intelligence, titled "AI is booming – but is it responsible?" Authors Georgina Chiu and Charles Stott argue that investors face governance risks as AI-driven energy demand from data centres could exceed 1,000 TWh by 2026, while also navigating ESG risks including bias, hallucinations, and privacy concerns.

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

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

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

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

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

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

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

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

Key data

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

Contents and focal points

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

Specifics

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

Team update

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

Differentiators

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

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

Key data

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

Contents and focal points

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

Specifics

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

Team update

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

Differentiators

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

... contains:

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

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

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

===

Listen:

• via Spotify
• via Apple

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

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

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

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

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

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

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

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

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

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

Quantifies how physical climate risk is flowing through to corporate financial performance.

Climate risk is showing up as real business cost

Modeled results for large U.S. companies indicate that climate impacts can translate into meaningful, recurring losses from both physical damage and business interruption, turning disruption into an ongoing cost of operating, not just a rare shock.

Extreme weather can create outsized, correlated downside

When severe events hit, losses can scale quickly across multiple companies at once. In a modeled 1-in-100-year scenario, impacts on major U.S. firms rise sharply, highlighting how tail risk can become a portfolio-wide problem rather than a single-asset issue.

Markets respond quickly to disclosed disruption

Companies tend to see a near-term stock decline (around 3%) following the disclosure of a weather-related disaster, reinforcing the view that markets increasingly treat physical climate disruption as financially material.

Analysing 866 US sectoral employment series, LOIM finds around three-quarters show a statistically significant trend change since ChatGPT's launch in late 2022.

• Most negative (warehousing, temporary help, business support, computer systems design)
• ~20% positive (nursing and residential care, social assistance, passenger transport, infrastructure).

The authors conclude AI is not yet eliminating jobs at the macro level but is already redistributing where employment growth occurs, consistent with classic structural-change theory. 

The Banking on Climate Chaos coalition has published its 2026 Fossil Fuel Finance Report, the seventeenth edition of the annual league table of bank fossil-fuel financing.

The world's 65 largest banks committed USD 906 billion to fossil fuel companies in 2025 — up around 8% year-on-year — taking the total since the Paris Agreement to USD 8.7 trillion, with financing for fossil-fuel expansion jumping 27% to USD 508 billion.

A new 'BOCC+' dataset extends coverage to roughly 2,000 banks, and the authors find six financial centres account for 87% of all fossil financing.

Key takeaways

• Even as numerous top banks pull back, nearly two-thirds of the world’s largest 65 banks continue to fuel a fragile and unstable fossil energy system.
• Bank financing for fossil fuel expansion jumped over 27% in a single year.
• “Dirty Dozen” banks now provide more than a third of global fossil finance.
• Top banks are concentrating their fossil financing in fewer, more leveraged fossil fuel borrowers.
• Six financial centers hold the keys to phasing out fossil fuel financing.

Frames AI as both a sustainability risk and opportunity for long-term investors

• Risk channels include a rapidly growing carbon and water footprint, plus labour-market and social-cohesion disruption
• Opportunities include its potential to compound efficiency gains, accelerate clean-technology discovery and scale proven solutions at near-zero marginal cost.

The authors conclude that AI should be treated as a 'sustainability transition variable', integrated into portfolio construction, engagement priorities and risk-assessment frameworks.

Key takeaways

• "Critical minerals are essential to the global energy transition. However, mining activities can pose significant sustainability and financial risks for investors.
• An assessment based on the Initiative for Responsible Mining Assurance (IRMA) standard using ISS STOXX Corporate Rating indicators shows that companies have strong policy adoption but weak implementation. While most companies have human rights, labour, and environmental policies, fewer demonstrate robust human rights due diligence, credible targets, or consistent operational practices.
• A nature impact and dependency assessment on a mining operator's universe based in Asia indicated that mining operators depended heavily on water-related ecosystem services. They simultaneously drive negative environmental impacts related to land-use change, pollution, and climate change.
• The physical climate risks to mining assets are set to intensify under high-emissions scenarios. According to ISS STOXX models, water-stress and heatwave exposure across Asian mine assets will increase significantly over the next 15–30 years, threatening operational continuity and cost structures.
• Engagement remains an investor tool to assess and manage portfolio companies' risks related to pollution, Indigenous rights, community consultation, and climate-related governance.
• In addition, investors can enhance portfolio resilience by tilting towards issuers with a stronger sustainability profile (leaders), while engaging with industry laggards to close implementation gaps. Investors can also start to embed nature- and climate-risk analytics in investment processes."

Contents

• Critical minerals in Asia's energy transition: Demand, risks, and supply chain dynamics
• Critical minerals mining in Asia: An IRMA-aligned sustainability assessment
• Nature risks in critical minerals mining: Dependencies and Impacts
• Geospatial data–climate risk exposure assessmentInvestor engagement on critical minerals mining: Case Studies

The First Sentier MUFG Sustainable Investment Institute seeks to commission a comprehensive research report on sustainability-related issues in data centres, focusing on financial materiality, sustainability-related risks, and systemic implications for investors.

The report will aim to quantify financial materiality, assess systemic risks and their potential impact on valuations, and provide investment insights across asset classes including engagement guidance. Case studies will be used to demonstrate risks and opportunities including sustainability impacts on production timelines, capex, and revenue. Expected sources include literature (industry reports, media, NGOs, international organisations, academic articles), datasets and industry sources.

Deliverable will include a completed report comprising research outcomes, data, visuals and engagement toolkit.

Proposed timelines:

• This RFP is issued on 29.06.2026
• Any questions or feedback regarding the brief should be submitted by 6.07.2026
• Answers to any questions will be provided by 8.07.2026
• Proposal should be submitted to the Institute by 10.07.2026 together with availability for a 1 hour call to discuss the proposals in the week of 13.07.2026
• Target for notifying the successful tenderer by 17.07.2026

Environmental crime is typically viewed as conservation issue, but it is also a business issue.

Environmental crime is a fast-growing illicit economy estimated at USD 300 billion annually, embedded in our global supply chains and financial systems. 

This week, United for Wildlife has published a new business case exploring why environmental crime is becoming a significant business risk, how organisations may be exposed, and what companies can do to respond.

Published: 4 March 2026

Summary: Ericsson's Annual Report incorporates a CSRD/ESRS-aligned Sustainability Statement covering climate strategy, responsible AI, supply-chain management, human rights and circularity.

Published: April 2026

Summary: One of the largest global data-centre REITs. The report focuses on low-carbon data centres, operational efficiency, renewable energy sourcing, customer decarbonisation and resilient digital infrastructure. There is growing discussion of how AI demand is influencing facility design and energy management.

Published: May 2026

Summary: The report covers renewable electricity procurement, energy efficiency, cooling technologies, water stewardship and AI-ready digital infrastructure. It also discusses supporting hyperscale AI workloads while pursuing science-based climate targets.

Nobody really knows how fast AI will develop and what the economic impact will be. It sometimes feels like you ask five people, and you get six different answers. And you don’t even have to ask any economist to get that confused. What to do then to get more clarity?

A team of researchers around Ezra Karger from the Federal Reserve thought, why not ask:

• 69 economists,
• 27 AI industry specialists,
• 25 AI policy experts,
• 38 superforecasters, and
• 401 members of the general public?

They asked all of them the same question and compared the answers.

I mean, how bad can it be?

My latest piece for Reuters is out this morning [June 18th] and I focus on what I think the true future of AI is. Not large language models running in data centres but small language models running on local desktop computers or even mobile devices.

Developed by the Stockholm Resilience Centre, the Planetary Boundaries framework identifies nine Earth system processes that define a “safe operating space” for humanity. Existing research highlights that seven of the nine boundaries have already been breached, signalling escalating risks of irreversible environmental change.  

These developments have considerable significance for businesses and investors: over $58 trillion of global economic value (more than half of global GDP) depends on nature, making ecosystem degradation a systemic financial risk rather than a purely environmental issue.

Boston Common Asset Management has published its Active Shareowner Update for Q1 2026, covering four themes shaping its stewardship practice. The update examines corporate sustainability disclosure as a structural rather than cyclical trend, the role of proxy voting in reinforcing governance accountability, investor responsibility questions raised by AI use in armed conflict settings, and climate engagement as a risk analysis tool for the engaged investor. Together the four pieces illustrate how Boston Common is adapting its engagement approach as regulatory and political dynamics shift around disclosure and climate action. Read the full update at the link below.

Focal points

• Decarbonisation and climate action — 33.3% absolute Scope 1 and 2 emissions reduction since 2020; targets: −50% by 2030, GHG neutrality Scope 1 and 2 by 2040, net zero Scope 1–3 by 2050
• Access to healthcare and patient reach — 450 million patients reached in 2025 through essential medicines, medical devices and nutritional therapies; 27 million patients treated at Helios hospitals
• Employee engagement and development — Employee Engagement Index 4.14 in 2025 (up from 4.02 in 2024); 19.3 average training hours per employee (+10.3% vs 2024); workforce 178,583 with 67% women

Parameters

• Data to: 31 December 2025
• Published: Early 2026 (no explicit publication date found)
• Data to 31 December 2025
• Materiality Matrix: None found in this document

As climate adaptation moves up the investment agenda, this article argues that investors may be overlooking one of the most important determinants of long-term resilience: the physical design of the landscapes on which businesses depend.

Drawing on a simple observation during France's recent extreme heat, it explores how diverse, water-retaining landscapes can remain significantly cooler than simplified agricultural and forestry systems, and why this matters for productivity, drought, wildfire risk and long-term asset performance.

A recent report by Ceres touches on this issue

Calvert Research & Management argues that the global energy transition has entered a more complex, demand-driven phase — 'Energy Transition 2.0' — shaped by rapidly rising electricity demand, shifting geopolitics, infrastructure constraints and uneven policy environments.

Authors Tarek Soliman and Jonathan Pragel identify companies with durable positions across the evolving energy system and present an investment framework for navigating the new terrain. The paper is available as a downloadable PDF.

Climate Bonds Initiative's Q1 2026 Sustainable Debt Global State of the Market finds that aligned GSS+ debt instruments totalled USD230.3bn for the quarter — a 9% decline from Q1 2025 on a like-for-like basis. Cumulative aligned volume has reached USD6,986bn, just short of the USD7 trillion landmark.

Green bonds retained their dominant position, accounting for 62% of cumulative aligned supply (USD4.3tn), with social and sustainability labels each contributing USD1.3tn.

Carbon Tracker's 'Oil Companies in Disguise' finds that several major automakers may carry carbon intensity comparable to oil and gas companies, due to systematic gaps in Scope 3 emissions reporting.

The research analyses transition risk and investor exposure across the automotive sector, finding that current disclosure practices obscure the true carbon footprint embedded in vehicle manufacturing. The findings have material implications for investors assessing portfolio alignment with net-zero targets. 

Impax Asset Management's ninth annual Stewardship and Advocacy Report fully integrates its response to the updated UK Stewardship Code, covering the firm's active ownership activities — engagement outcomes and voting decisions — over the past year.

Authors include Lisa Beauvilain, Chris Dodwell, Heather Smith and Robyn Lockyer.

Contents

Engagement

Key examples included:

• Climate: Engaging with a German manufacturer of industrial kitchen equipment on Scope 3 emissions disclosure and science-based emissions reduction targets
• Nature: Engaging with a Swiss speciality chemicals company to enhance its assessment of nature-related dependencies, impacts, risks and opportunities
• People: Engaging with a North American bank on the evaluation and reporting of human capital management
• Governance: Engaging with a Japanese manufacturer of industrial machinery, supplies and components to improve board independence and gender diversity

Advocacy

Key initiatives included:

• Climate: UK Net Zero Council & Transition Finance Council; corporate transition planning systematic stewardship
• Nature: Tropical Forest Forever Facility (TFFF)
• People: Modern slavery regulation in Australia and New Zealand; forced labour import ban and migrant working protections in Taiwan
• Governance: Chinese Corporate Governance Code; Japanese Stewardship Code
• Sustainable finance: Shaping the future of sustainability reporting

Man Group's 'A Sustainable Future' responsible investment podcast features Professor Nicola Ranger of the London School of Economics, who explains why adaptation finance is significantly underdeveloped relative to climate mitigation and identifies the key blind spots that impede progress. The episode, hosted by Jason Mitchell, covers how investors can begin to close the gap — a timely contribution as physical climate risk grows in portfolio significance.

Calvert Research & Management has published its ninth annual Barron's Most Sustainable U.S. Companies ranking, evaluating the 1,000 largest publicly traded U.S. companies across more than 230 key performance indicators.

The methodology draws on Calvert's proprietary ESG research framework, with financial materiality as the central lens. The result is a benchmark for assessing sustainability leadership among large-cap U.S. equities, published in partnership with Barron's magazine.

Baillie Gifford Investment Insight piece arguing that the ESG terminology, as it has come to be used, has outlived its analytical usefulness and needs a rethink — not because the underlying environmental, social and governance considerations have lost relevance, but because the label itself now obscures rather than clarifies long-term investment risk.

Contents

• Why "ESG" as a single composite label is becoming an obstacle to analysis
• Separating the genuine long-term financial drivers from the marketing overlay
• What Baillie Gifford's research process retains from the ESG era and what it sets aside

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

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

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

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

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

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

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

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

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

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

Department for Environment, Food and Rural Affairs

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Specialist, Product Owner - Solutions - Principles for Responsible Investment

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

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

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

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

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

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

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

Key features

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

Key features

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

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

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

Uxbridge, United Kingdom
Mechelen, Belgium
Breda, Netherlands

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

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

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

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

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

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

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

Closing date for applications: 15/06/2026

Location London, United Kingdom

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

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

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

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

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

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

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

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

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

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

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

[Posted 30+ days ago, ad still live]

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

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

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

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

[posted March 2 appears still to be live ad]

This is a Fixed Term Contract opportunity

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

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

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

As a Sustainability Analyst, you will play an active role in advancing Broadridge’s sustainability initiatives, contributing to the company’s progress toward its near-term and net-zero emissions reduction goals. In this role, you will manage data collection, analysis, and reporting tasks, support supplier engagement activities, and contribute to projects that advance our environmental commitments. This position provides hands-on experience in corporate sustainability, greenhouse gas (GHG) measurement, and sustainable supply chain management, while offering opportunities to learn from and collaborate with experienced sustainability professionals.