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Invesco launches pan-Euro structured equity fund in ESG form
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Le durable n est plus une option | Paperjam News
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Climate goals: Rhetoric vs reality
A recent study by the Rainforest Action Network claims that in the five years since the Paris Agreement, the world’s biggest banks – including the likes of BNP Paribas, Goldman Sachs, and JP Morgan – have financed fossil fuels to the tune of $3.8 trillion (€3.2 trillion).
Impact investment firm ThomasLloyd’s chief executive Michael Sieg, speaking in Funds Europe’s April issue, has pointed out that while large banks and global financial institutions like to highlight how sustainable they are on their websites, “the reality is unfortunately different”.
The billions of dollars committed to financing coal plants by banks and institutions that have signed up to the Paris agreement, he said, highlights the “brutal” gap between climate theory and practice.
ESG: Green, greener, greenest.
When the EU’s landmark Sustainable Finance Disclosure Regulation (SFDR) came into force on March 10, it was widely welcomed and hailed as a ‘game-changer’ in the fight against greenwashing.
A core component of the bloc’s green agenda, the regime is designed to promote greater transparency in finance – but questions remain regarding its implementation.
SFDR calls on asset managers to classify their funds according to three primary categories – article 6, which makes no claims of sustainability, or articles 8 and 9, which both claim environmental, social and governance (ESG) credentials and require firms to provide data to support the claims.
Axa IM debuts low-carbon US high yield fund Apr 08, 2021 By Funds Europe
Axa Investment Managers has launched its first low-carbon fund targeting US high yield and integrating ESG (environmental, social, and governance) criteria.
The fund will exclude many of the most carbon intensive sectors such as metals, mining, steel producers, and utilities, the fund manager said. Most sub-sectors within energy will also be left out the portfolio.
Within the remaining investible universe, carbon intensity and water intensity scores of bond issuers will be analysed to avoid companies deemed as unsustainable.
According to Axa IM, this will further contribute to the fund’s carbon and water intensity target of at least 20% lower than the benchmark.
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