SPOTLIGHT
JPMorgan Chase & Co. is voluntarily complying with new European Union sustainability disclosure regulations. The firm issued a principal adverse impact (PAI) statement, which provides a set of metrics to help clients compare asset managers based on negative ESG impact. In doing so, JPMorgan provided more useful information to investors than peers including Vanguard and State Street. The world’s largest fossil fuel financier taking this action is a strong signal that European climate regulations have teeth. The case for equivalent reporting standards in the U.S. will only grow as more asset managers follow suit.
NEWS
- Axios: Why Big Oil’s carbon capture moves are drawing opposition
- Barron’s: Companies Like ESG. But They Find Reporting on It Is a Big Pain | Campaigners Urge Debt Cancellation To Cut Fossil Fuel Reliance
- Bloomberg: JPMorgan Isn’t Taking Any Chances With New EU ESG Rule
- The Bond Buyer: SIFMA sues Missouri over ESG investment rules
- The Center Square: Another company alters ESG policy to comply with Texas law
- CNBC: Has climate change made utilities a risky bet? What income investors need to know
- CNN: In Maui and across America, climate change and extreme weather are hurting housing affordability
- ESG Clarity: Only 1.5% of funds aligned with 1.5ºC – ESG Clarity
- ETF Stream: BlackRock’s clean energy ETF hits three-year low
- Forbes: How Vivek Ramaswamy Became A Billionaire
- Impact Alpha: Developing a pro-ESG narrative around transparency, long-term returns and political freedom
- Insurance Journal: Industry Rails Against Federal Climate Disclosure Bill
- Harvard Law School Forum on Corporate Governance: Shareholder Rights: Assessing the Threat Environment
- Politico: Wildfires are about to burn California politicians
- Reuters: Increase in regulatory reporting across jurisdictions drives demand for ESG controller role
- Risk & Insurance: As Freight Shipping Sails Toward Cleaner Fuels, Will ESG Prove to Be a Liability or a Benefit?
- Triple Pundit: Singapore Leads Green Finance and Helps Other Countries Follow Suit
- Yahoo Finance: Why Big Oil should be worried about a Montana court ruling | Bond Investors Warned of ‘Trouble Brewing’ Over Climate Risk
- Wealth Professional: Sustainable dividends are the focus for a new Vanguard fund
OPINION
- ESG Clarity: Investors approve executive pay that incentivises global warming
- The Financial Times: The Green Climate Fund needs urgent replenishment
- The Hill: Why are Congress’s budget experts failing to address the rise of climate-related health care spending?
OPPOSITION
SOCIAL
- State Financial Officers Foundation shared a video: 🎯@NCTreasurer Dale Folwell nails it on the #ESGscam with @MariaBartiromo on @FoxBusiness this morning! “We never hired @BlackRock to politicize the money of those that teach, protect, and otherwise serve.” #Wacktivism #LarryFink
- Gil McGowan quoted a tweet: If saving humanity from extinction isn’t enough to motivate you to support action on climate change, how about this? Property losses associated with climate change threaten the insurance system. And without insurance coverage, investment will grind to a halt.
DATES
- August 23-25: Global Research Alliance on Sustainable Finance and Investment 2023 Annual Conference. Register here.
- August 24-26: The Federal Reserve Bank of Kansas City 2023 Economic Policy Symposium “Structural Shifts in the Global Economy.”
- September 17-24: Climate Group Climate Week NYC. View list of events here.
- September 19: Sustainable Investment Forum North America. Register here.
- September 20: UN Climate Ambition Summit.