Ahren Lester

New York State pension fund targets shale firms amid further coal investment exits

The $255 billion New York State Common Retirement Fund is evaluating whether to restrict investment in 42 shale oil and gas companies, making the announcement alongside its exit from five more coal firms.

People moves: DWS, Mercer, Robeco, NN IP, AIG ... and more

'Blunt' ESG scores have 'no place' in credit rating process, says KBRA

Kroll Bond Rating Agency (KBRA) said environmental, social and governance (ESG) scores have "no place" in the credit rating process despite ESG risks being relevant to credit quality, arguing the "blunt" ESG scores can "distract" credit analysts from their fundamental work

Climate risk-based divestments boosted equity returns, says NBIM

The manager of the giant Norwegian sovereign wealth fund said its equity fund performance has benefitted from a cumulative 0.27% outperformance since 2012 due to divestments based on financial climate risk assessments

Green and sustainability-linked loan round-up: RSK, Cabot, Saputo, Sing Da Marine ... and more

Bond round-up: NRG, PNC, Berkeley, Gemdale, Sunnova, OCBC, Bewi ... and more

Financial firms back deforestation data initiative

A working group of investors and banks are supporting an initiative to improve the data on corporate deforestation through supply chains

EOS turns voting focus towards gender and racial diversity in 2021

EOS at Federated Hermes said it tightened its voting policies related to gender and racial diversity on boards in 2021, opposing director re-elections where "insufficient" progress has been made - with the investment stewardship firm particularly disappointed by progress in China, Hong Kong and Taiwan.

Sustainability-linked bonds: One year after the principles - where to next?

Amid ongoing innovation and accelerating growth in 2021, where should the sustainability-linked bond market look next? Ahren Lester reports

Mirae launches Chinese 'clean' energy equity ETF

$215 billion Korean asset manager Mirae Asset Global Investments has launched a Chinese equity clean energy exchange traded fund (ETF) tracking a Solactive index