environmental social and governance (ESG) criteria News

Europe Asset Managers Eye Halting Non-ESG Products to Meet Net-Zero Goals: Survey

Over two-thirds of European asset managers and distributors are considering halting the launch or distribution of products that do not comply with environmental, social and governance (ESG) standards, a survey by PwC Luxembourg showed on Monday. Flows into ESG funds …

Nasdaq Urges SEC Not to Move Ahead with Climate Disclosure Plan

Nasdaq Inc. is pushing back against the US Securities and Exchange Commission’s plans to make publicly traded companies reveal detailed information about their greenhouse gas pollution. The stock-exchange operator urged the SEC to shelve its plans to require businesses to …

The SEC War on Greenwashing Has Begun

For all the greenwashers out there on Wall Street, the party may really be over. There’s now little doubt that the US Securities and Exchange Commission actually means business in its bid to crackdown on misleading claims by managers of …

ESG Fund Bosses Hit by ‘Reckoning’ as Goldman, DWS in Crosshairs

One of the top legal firms advising asset managers on ESG says the industry needs to brace for a more rigorous enforcement of regulations, effective immediately. There’s “a reckoning” under way, said Sonali Siriwardena, partner and global head of ESG …

WTW Enhances Climate Diagnostic Tool to Assist Climate-Related Reporting

Insurance broker WTW has enhanced the capability of its Climate Diagnostic tool, which was first launched in April 2021. In response to an increase in Task Force on Climate-Related Financial Disclosures (TCFD) reporting and the ever-growing need for transparency, WTW …

Head of Deutsche Bank’s Asset Manager Steps Down After ‘Greenwashing’ Raids

FRANKFURT – The chief executive of top German asset manager DWS will step down next week, he said on Wednesday, a day after raids by prosecutors over allegations that the company misled investors about “green” investments. The raids and departure …

Tesla Cut From S&P 500 ESG Index, and Elon Musk Tweets His Fury

An S&P Dow Jones Indices executive told Reuters on Wednesday it has removed electric carmaker Tesla Inc. from the widely followed S&P 500 ESG Index because of issues including claims of racial discrimination and crashes linked to its autopilot vehicles, …

AXA to Join €1B Regenerative Agriculture Fund to Help Mitigate Climate Change

Insurer AXA and consumer goods group Unilever plan to invest 100 million euros each into a new 1 billion euro ($1.06 billion) regenerative agriculture fund to be managed by Tikehau Capital, the three groups said on Wednesday. The companies each …

Tesla, Echoing Musk, Says ESG Metrics Are ‘Fundamentally Flawed’

Tesla Inc., whose Chief Executive Officer Elon Musk has criticized ESG for making little sense, said current ways of measuring environmental, social and governance issues are “fundamentally flawed.” In a 144-page annual report, the electric vehicle-maker said ESG ratings are …

Aspen Becomes 17th Insurer to Stop Insuring Canada’s Trans Mountain Pipeline

Lloyd’s of London syndicate Aspen Insurance has decided to cut ties with the existing Trans Mountain pipeline when its current insurance policy expires this summer, according to the climate activist group, Coal Action Network. Aspen joins 16 other insurers that …