environmental social and governance (ESG) criteria News

PwC to Create 100,000 New Jobs to Help Clients Grappling with ESG Reporting

Accounting firm PwC said on Tuesday it would invest $12 billion over five years to create 100,000 new jobs aimed at helping its clients grapple with climate and diversity reporting and also in artificial intelligence, as part of its new …

Major UK Asset Manager Divests from Insurer AIG over Climate Policies

Legal & General Investment Management will sell holdings in four companies including U.S insurer American International Group Inc. after deeming they’re making insufficient progress on addressing climate change risks. The UK asset manager said in a statement on Tuesday it …

World’s Largest Insurers ‘Failing’ to Address Climate Change, Biodiversity Loss

Most of the world’s largest insurers are failing to adequately address systemic risks such as climate change and biodiversity loss, but a group of five U.S. insurers are some of those that rank the lowest, according to report published by …

Broker Howden Launches World’s 1st Fully Sustainable Insurer, Parhelion

Howden, the London-based insurance broker, announced it is launching a UK insurer called Parhelion, which it describes as “the world’s first fully sustainable insurer.” Aiming to raise $500 million in capital, Parhelion plans to begin underwriting from Jan. 1, 2022. …

Climate Change Protesters Set Off Stink Bomb at Lloyd’s of London in Ongoing Activism

Climate change protesters continued their focus on Lloyd’s as a major insurer of the fossil fuel industry by setting off a stink bomb in front of the market’s London headquarters. The activist group, Insurance Rebellion, is demanding the UK government …

Climate Change Activists Protest at Lloyd’s of London, Dumping a Load of ‘Coal’

Lloyd’s of London was the focus of climate change activists on Friday, when a group called “Insurance Rebellion” used a dump truck to deposit a large pile of fake coal in front of the Lloyd’s headquarters on One Lime Street. …

Insurers Prefer Private Equity Investments over Hedge Funds: Survey

LONDON — Insurers want to put more money into private equity this year while scaling back on hedge funds, a survey by Goldman Sachs Asset Management showed on Wednesday. Private equity was the most-favored asset class for insurers seeking to …

Many Climate Scientists Moving from Fieldwork to Jobs in Financial Services

LONDON – Environmental scientist Laura Garcia Velez cut her teeth on projects to help Ethiopian farmers insure crops for drought and connect remote Colombian communities to the electricity grid before working for conservation campaigners WWF. Now she’s an analyst for …

‘Insure Our Future’ Pressures Lloyd’s to ‘Immediately Stop’ Insuring Fossil Fuel Projects

Insure our Future, the anti-fossil-fuel campaign group, is pressuring Lloyd’s to immediately stop insuring coal and new oil and gas projects that exacerbate climate change. The group has launched a website, which is aimed at “concerned staff at Lloyd’s … …

Catastrophe Bonds Positioned to Tap Into Demand for Socially Responsible Investments

Catastrophe bonds are being hailed as the next frontier for socially responsible investing. Such debt, which insures against natural disasters such as hurricanes, earthquakes and pandemics, is gaining traction with investors looking to brandish their ethical credentials. Proponents say the …