Finance Media Monitor | 10.25.23

SPOTLIGHT

Investors are ditching Article 8 funds, an EU fund classification requiring ESG goals are “promoted,” due to growing skepticism around their efficacy. These funds lost more than €20.5 billion last quarter, and the funds that suffered the most had the weakest sustainability credentials. Funds within Article 9, a more stringent class of ESG funds, pulled in €1.4 billion. 

Investors in the US are also stepping up to defend ESG, with six investment firms supporting a lawsuit contesting a Missouri rule that requires investment firms to obtain written consent before using any social or “non-financial” objectives when investing. 

NEWS

OPINION

OPPOSITION

SOCIAL 

  • Sanjeev Sanyal shared an article: Now even Financial Times columnists & university professors accept that the ESG framework is a pile of garbage.Whole approach is set to collapse even faster than its sudden rise. Another example of how unaccountable NGOs & consultants mislead people
  • FDIC shared a press release: For nearly 50 years, the Community Reinvestment Act has encouraged banks to help meet the credit needs of local communities, especially low- and moderate-income neighborhoods. Today, our Board of Directors approved new rules to strengthen & modernize CRA. 

DATES

  • Today: Deep Dive “Protections for Farmer-Consumers: Farmers as Borrowers and Land Stewards.” Register here. 
  • October 26: Ceres Charting Progress Webinar: Regulator Actions on Climate Financial Risks. Register here. 
  • October 26: Climate Disclosure Developments: The SEC, California, and EU Extraterritoriality. Register here. 
  • October 26: Gensler doing a fireside chat on climate disclosure at Chamber event.
  • October 27: Transatlantic Forum for Environmental and Climate Justice. Register here. 
  • October 31: Ceres A Guide for Businesses: California’s New Climate Disclosure Legislation Webinar. Register here.