December 2019

23Dec

Japan, European Development Bank Launch Social Bond Initiative

Japan’s $1.48 trillion Government Pension Investment Fund (GPIF) and the Council of Europe Development Bank (CEB) have launched a partnership to promote and develop sustainable capital markets. Their focus will be on social bonds, and the incorporation of ESG assessments in fixed-income investments. “GPIF requires all asset managers to integrate ESG into their investment analysis and decision-making,” Hiro Mizuno, CIO of GPIF, said in a statement. “We regard the purchase of green, social and sustainability bonds as one of...

December 23, 2019
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20Dec

Tanzania: Universal Pension Scheme Transforms Lives of Elders in Zanzibar

THE Zanzibar's Universal Social Pension scheme (ZUPS) has improved the lives of older people in Zanzibar and made a positive impact on their wider households, according to a new report released on Wednesday. The Impact Evaluation of the Zanzibar Universal Pension Scheme delivers a positive assessment on how east Africa's first ever universal pension scheme, which entitles all Zanzibari residents, aged 70 and over to a monthly social pension, has positively affected the lives of its recipients. Produced by...

December 20, 2019
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19Dec

African Development Bank to Fund Morocco’s Social Protection Program

The African Development Bank (AfDB) approved funding of $204 million to improve social protection in Morocco, on Wednesday, December 18. The main objective of the program is to broaden social protection in Morocco to include people with disabilities, children, and vulnerable women, the AfDB said in a press release. The program also aims to promote a regional approach to developing more integrated and inclusive social policies. Meanwhile, the fund will enable the creation of 144 units specialized in...

December 19, 2019
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16Dec

The Old-Age Security Motive for Fertility: Evidence from the Extension of Social Pensions in Namibia

By Pauline Rossi (University of Amsterdam), Mathilde Godard (GATE-LSE, Lyon) The old-age security motive for fertility postulates that people's needs for old-age support raise the demand for children. We test this widespread idea using the extension of social pensions in Namibia during the nineties. The reform eliminated inequalities in pension coverage and benefit across regions and ethnic groups. Combining differences in pre-reform pensions and differences in exposure across cohorts, we show that pensions substantially reduce fertility, especially in late...

December 16, 2019
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09Dec

France pensions overhaul to go ahead despite huge protests

The French government has vowed to press ahead with its overhaul of the pensions system despite a hardening nationwide strike that will keep transport at a standstill next week amid another round of planned massive street protests. Four days after at least 800,000 people took part in one of the biggest demonstrations of trade union strength in a decade on Thursday, transport remained virtually at a halt over the weekend as the president, Emmanuel Macron, held talks with ministers...

December 9, 2019
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09Dec

Greece. Mechanism for retirees with low pensions

The government is planning to abolish the so-called 13th pension, i.e. the handout to pensioners the SYRIZA administration distributed before the elections this year, though the 971 million euros handed out to 2.5 million retirees will stay in their pockets. The Labor Ministry is already working on the creation of a permanent mechanism for the support of recipients of low pensions, within the social security system. The amount of the support and the width of the pensioner catchment will...

December 9, 2019
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06Dec

The Real Effects of Environmental Activist Investing

By S Lakshmi Naaraayanan, Kunal Sachdeva, Varun Sharma Using a socially-motivated activist campaign by a large pension fund, we measure the real effects of activist investing on pollution and the environment. Targeted firms reduced their total toxic chemical releases, production-related emissions, cancer-causing pollution, environmental accidents, and legal risks. These effects do not come at the expense of lower financial performance or returns. We rule out natural alternative hypotheses while also presenting evidence supporting the external validity of socially motivated...

December 6, 2019
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06Dec

A Look at France’s Heated Debate Over Pensions

The planned overhaul of the French pensions system aims to streamline a complicated patchwork of provisions, but workers argue it will require them to work longer and will reduce their income. The heated debate over the changes to the retirement system are laid bare in the nationwide strike and protests taking place Thursday. The popular discontent will test the resolve of the government of President Emmanuel Macron, who says it remains determined to pass the reform next year. Here's a look at...

December 6, 2019
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06Dec

ESG investing to move faster in Asia

Although in its initial stages and faced with challenges, opportunities in ESG investing are rising in Asia. Thanks to a governmental push as well as growing ESG awareness and compliance among institutional investors, sustainability is quickly picking up in Asia, though challenges still exist. Featuring Christopher Hui, executive director, Financial Services Development Council; Karine Hirn, partner, chief sustainability officer, East Capital; William Ng, ESG engagement analyst, investment team, HSBC Global Asset Management; and Paul Milon, sustainability and ESG integration specialist, BNP...

December 6, 2019
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06Dec

Social sustainability is the future

By Yolande Barnes I talked about writing up the conference we held on the next 100 years of real estate. To my surprise, the “mum, you’re so boring/embarrassing” teenage eye roll didn’t happen. I asked: “What do you think I should write?” I got the response: “Why don’t you write about how young people have to pay huge rents and can’t afford to get on the housing ladder?” Although this was something I had written about before, she had brought a...

December 6, 2019
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