SPOTLIGHT
State and local public pension funds stood up for ESG shareholder resolutions during the 2022 proxy season. Public pension funds supported 88% of key ESG resolutions—or resolutions that gained more than 40% support from independent shareholders—compared to 74% for sustainable funds and 56% for general shareholders. The Morningstar analysis also found that even Republican state pensions supported 10% more key ESG resolutions than general shareholders. This goes to show that money managers across party lines understand that incorporating ESG is a winning strategy for their retirees.
NEWS
- Bloomberg: World Bank Floats New ESG Bond Format to Protect Brazil’s Amazon
- Bloomberg Law: Brazil Readies Roadshow for First ESG Bond Tied to UN Goals
- Citywire: ‘ESG boom ends’: Green flows trend has reversed, says Calastone
- CNBC: It’s official. UN says the world just endured its hottest summer on record
- E&E News: The state of the green unions | Meet the financial regulator with a laser focus on climate
- The Guardian: US ‘university’ spreads climate lies and receives millions from rightwing donors
- International Finance Law Review: Is ESG waning globally for the asset management industry?
- IR Magazine: Climate group petitions SEC to halt JBS listing on climate grounds
- Morningstar: U.S. Public Pension Plans Sustain Support for ESG Resolutions
- Oilprice.com: Climate Risk Reshapes Insurance Sector in Emerging Markets
- Politico: Breaking up with ESG is hard to do | DeSantis donors ditch: Some of the Florida governor’s biggest givers aren’t writing checks
- Responsible Investor: ESG round-up: ESRS, GRI achieve ‘high level of interoperability’
- Reuters: African leaders call for new global taxes to fund climate change action | New EU sustainability reporting rules are a challenge, says Puma | European shareholders contest more executive pay reports | Speeding up green transition would make it cheaper too
- Spectrum News 1: In Focus: Rep. Andy Barr on the debate over ESG investment and retirement plans
- The Wall Street Journal: ESG Roundup: Market Talk
- WESH 2: Property insurers and rising climate risks amid cost increases
- Yahoo Finance: Ramaswamy’s Anti-ESG ETF Firm Hits $1 Billion in Assets
OPINION
OPPOSITION
- The Heartland Institute: Has ESG Been Cast into the Dustbin of History?
- This is Money: Is the ESG boom over? Investors pull £2bn out of ‘woke’ funds in just four months
SOCIAL
- Oil Change International shared a press release: Record heat, deadly fires, devastating floods: we must unite to end to fossil fuels. Every new fossil fuel project is incompatible with a livable future. In 2 weeks we join the March to #EndFossilFuels, not just to ask for change, but for a reckoning.
- Lobby For Climate replied to a video: This video actually shows why we need #ESG, as it does encourage competition by giving investors clear info on investment risks + greater choice in where they put their $$$. Also, when you say “picking favorites” you mean supporting #ClimateSolutions (a very good thing, not bad)
DATES
- September 17-24: Climate Group Climate Week NYC. View list of events here.
- September 18: Climate Finance Day – NYC Climate Week 2023. From As You Sow, Jefferies, Carbon Tracker, IEEFA and more. Register here
- September 19: Return on Investment: How to Maximize Historic U.S. Climate Legislation – NYC Climate Week 2023. From Ceres. Register here.
- September 19: Sustainable Investment Forum North America. Register here.
- September 20: UN Climate Ambition Summit.
- September 25-26: Insure Our Future Campaigning Academy ’23. Complete this form by September 11th to express interest.