November 2021
29Nov

Chinese government push for better maternity leave met with shrugs or concerns it will promote discrimination against women

A dozen regional governments in China have lengthened maternity leave allowances in the past month to incentivise families to have more children amid concerns of an impending demographic crisis. However, many people questioned whether the policies would make any difference in China’s collapsing birth rate and pointed out that it could increase discrimination against women in the workforce. Some rule changes allow women to more than double their maternity leave, while others are making policies that increase maternity perks as families...

November 29, 2021
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29Nov

New EU rules pose problems for institutions

European asset owners and money managers expect to be challenged when it comes to aligning their investment strategies with the new European Union sustainable finance rules that go into effect in 2022 as regulatory requirements appear inconsistent. That's because investors and fund managers are still having to source the data to determine the environmental impact of their portfolio companies so they can disclose the degree to which their holdings — and therefore their portfolios — contribute to a carbon-intense economy. They...

November 29, 2021
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24Nov

Why scaling investment is crucial for sustainable development

Global organizations are cooperating on scaling investment to help achieve sustainability goals. Investment promotion needs to change to target sustainable investments, particularly to help reach climate goals. Turkey is implementing this approach by making the SDGs central to its foreign direct investment strategy. Climate change has been on the international agenda for a long time, but recent developments have upped the urgency of taking immediate action for both humanitarian and developmental reasons. World leaders gathered in Glasgow to discuss...

November 24, 2021
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19Nov

Ethics of the Environment

By Julia M. Puaschunder Globalization leveraged pressure on contemporary society. Today's most pressing social dilemmas regarding climate change demand for inclusive solutions that marry the idea of sustainable growth with environmental economics. Understanding the bounds of environmental limits to avoid ethical downfalls beyond the control of singular nation states infringing on intergenerational equity – the fairness to provide an at least as favorable standard of living to future generations as enjoyed today – has become a blatant demand. In a...

November 19, 2021
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19Nov

What happened at COP26 and what does it mean for pension scheme investments?

What happened at COP26 and what does it mean for pension scheme investments? COP26 drew to a close on Saturday 13th November, a day later than scheduled, as delegates from 197 countries pushed to finalise a deal which aims to limit global warming and accelerate the shift of the world's economies to a greener future. But what is in the deal, known as the 'Glasgow Climate Pact', and what does it mean for pension schemes? Read also One-third of UK pension schemes...

November 19, 2021
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18Nov

One-third of UK pension schemes to set climate risk targets

A third of UK pension schemes have set, or are in the process of setting, targets to reduce their exposure to climate-related risks, but a similar proportion do not plan on doing so themselves. That is according to a new report from the Association of Consulting Actuaries (ACA), which has identified an emerging division in pension scheme attitudes to climate risk. Although 33% were at least in the process of setting climate risk targets as of July this year, 28% said...

November 18, 2021
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17Nov

La sostenibilidad y el nuevo marco institucional y regulatorio de las finanzas sostenibles

Por José María López Jiménez & Arturo Zamarriego Muñoz La presente obra colectiva tiene por objeto analizar el marco institucional y regulatorio que permitirá en los próximos años, con el horizonte de 2030, la plena implantación del nuevo paradigma de las finanzas sostenibles. En especial, se presta atención al nuevo marco normativo de la Unión Europea, y a su impacto en el sector financiero, tanto por parte de la oferta de servicios como por la de la demanda. consigue el libro...

November 17, 2021
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17Nov

UK. Investment consultants publish ESG metrics for consistent reporting

A group of investment consultants working in the UK has come up with a list of environmental, social and governance (ESG)-related metrics for all public equity and public credit asset managers to report on, or work towards being able to report on, as soon as possible. The Investment Consultants Sustainability Working Group (ICSWG) said the list was based on metrics that institutional investors were increasingly seeking to collect from asset managers. Anthony Soothill, chair of Telefonica UK Pension Plan Trustees, is...

November 17, 2021
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13Nov

Quantifying the Impact of Impact Investing

By Andrew W., Ruixun Zhang We propose a quantitative framework for assessing the financial impact of any form of impact investing, including socially responsible investing (SRI), environmental, social, and governance (ESG) objectives, and other non-financial investment criteria. We derive conditions under which impact investing detracts from, improves on, or is neutral to the performance of traditional mean-variance optimal portfolios, which depends on whether the correlations between the impact factor and unobserved excess returns are negative, positive, or zero, respectively. Using...

November 13, 2021
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13Nov

Fiduciary Duty, Social Conscience, and ESG Investing by a Trustee

By Max M. Schanzenbach, Robert H. Sitkoff This chapter, prepared for the 2021 Annual Heckerling Institute on Estate Planning, examines the law and economics of environmental, social, and governance (ESG) investing by a trustee. Trustees of pensions, charities, and personal trusts invest tens of trillions of dollars of other people’s money subject to a sacred trust known in the law as fiduciary duty. Recently, these trustees have come under increasing pressure to use ESG factors in making investment decisions. ESG investing...

November 13, 2021
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