October 2020

15Oct

PFA reports new fall in CO2 emissions, drops some oil and gas firms

Fund says equity portfolio emits 21% less CO2 per million USD invested than MSCI world index Denmark’s largest commercial pension fund, PFA, has announced a significant reduction in the carbon footprint of its equity portfolio in the first six months of this year – a period in which it now reveals it sold several oil and gas equities. The DKK599bn (€80.5bn) pension fund said the latest climate review of its equity portfolio shows that at the end of June, the...

October 15, 2020
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13Oct

Portuguese schemes now required to report ESG investment

A new law has been introduced for Portuguese occupational pension funds requiring them to prepare a statement of investment policy principles detailing their approach to risk and to environmental, social and governance (ESG) factors. The law, which took effect last August, said the statement must include the methodology for assessing investment risk; risk management processes applied; and the asset allocation strategy followed, taking into consideration the type and duration of pension liabilities, as well as ESG factors. The statement...

October 13, 2020
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08Oct

EU seeks to boost eurozone with green bond program

The European Union wants to lift the GDP of the eurozone economy by 3% by 2027 through borrowing under a new green and social bond program agreed to in September, attendees heard Tuesday during a webinar. Read also Latin America’s new poor The recovery program, which will launch with a €100 billion ($117.2 billion) SURE bond program, is a "game changer" for investors from United States and Asia because it will help to establish a euro-denominated green and social...

October 8, 2020
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06Oct

Is Canada Pension Plan really committed to fight climate crisis?

Last month, Mark Machin, CEO of the Canada Pension Plan (CPP), wrote that climate change is the crisis beyond COVID-19 that we can’t afford to ignore, stating that “the full effects will depend on the actions we take now and in the future.” Read also Canada. The Minister of Finance tables Bill 68 to allow the establishment of target benefit pension plans We strongly agree. So why, then, is CPP pouring billions of our retirement savings into oil, gas and...

October 6, 2020
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02Oct

Could the ESG Sector Lead the Recovery of the COVID-Economy?

By Suresh Gamlath The June 2020 outlook for the world economy, forecast a ‘synchronised deep downturn’ much worse than the 2008 crisis and ‘an uncertain recovery’. The impact of ‘lockdown’ on economic activity had a profound effect on the fortunes of firms, households, and entire industries around the world. While some sectors were buoyed by the sharp growth of home-based online working and entertainment; an overwhelming majority experienced significant contraction as demand stalled. The likelihood of large-scale corporate collapse...

October 2, 2020
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01Oct

US. Trump Plan Would Restrict Retirement Plans from Sustainable Investments: Viewpoint

Interest in sustainable investing is soaring, as more people become convinced that making a positive impact can be profitable as well as good for the planet and society. Unfortunately, the Labor Department doesn’t think these investments belong in your 401(k). In June, the federal regulator proposed a rule that would restrict workplace retirement plans from investments that include environmental, social and governance considerations. Popularly known as ESG or socially responsible investing, this approach considers the sustainability of a company’s...

October 1, 2020
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September 2020

30Sep

Mobilizing Private Finance for Nature

By Benoit Blarel, Giovanni Ruta, Olga Gavryliuk, Pauline Poisson, Fiona Stewart, Samantha Power, Benjamin Guillon, Irina Likhachova & Lisa Choux (The world Bank Group) Biodiversity and ecosystem services, or nature for short, underpin many aspects of economic activity and are deteriorating at an unprecedented level, with potentially far-reaching implications for economies worldwide. Sustained ecosystem damage can trigger regime shifts and generate systemic impacts on human well-being and economies. For example, the degradation of natural ecosystems has been associated with an increase in the probability...

September 30, 2020
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30Sep

Iceland’s pension funds sign sustainable investment declaration

Pension funds in Iceland have indicated their collective commitment to promoting sustainable development through investments, joining major players in the country’s financial sector by signing a letter of intent – alongside Prime Minister Katrín Jakobsdóttir. Read also EIOPA sets up its key priorities in the light of the pandemic In the open letter signed last week, a range of pension funds and banks declared that capital was an important driving force in shaping the economy and society as a whole,...

September 30, 2020
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15Sep

UK. Government encourages pension schemes to invest in green tech and infrastructure

Measures aimed at encouraging pension schemes to invest in a more diverse range of long term assets, including green technology and infrastructure, have been outlined by the government. It has launched a consultation and is seeking views on additional steps to encourage the consolidation of smaller pension schemes into larger schemes. The government believes a key wider benefit of an increase in consolidation could be the increased share of assets saved in large, defined contribution (DC) schemes potentially able to...

September 15, 2020
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11Sep

One of Sweden’s Biggest Investors Starts ESG Pressure Campaign

Alecta, a Swedish pension fund with about $110 billion under management, wants to take active investing to a new level to force the companies it owns to be more ethical. Carina Silberg, who runs a newly merged corporate governance and sustainability unit at Alecta, says her team is bringing in reams of data to figure out exactly what portfolio companies are doing when it comes to environmental, social and governance standards. If “large gaps” are identified, “targeted action” follows, she...

September 11, 2020
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