GFANZ members under fire over fossil fuel financing
A new report highlights that banks and financial institutions part of the Glasgow Financial Alliance for Net Zero (GFANZ) are still heavily invested in fossil fuels despite their climate pledges.
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GFANZ members under fire over fossil fuel financing
A new report highlights that banks and financial institutions part of the Glasgow Financial Alliance for Net Zero (GFANZ) are still heavily invested in fossil fuels despite their climate pledges.
Scottish Widows backs Blackrock Corporate ESG Insights Bond Fund with £500m
BlackRock announced that Scottish Widows has become the first investor in its newly launched BlackRock Global Corporate ESG Insights Bond Fund.
BlackRock hits back on ESG criticism
BlackRock (NYQ:BLK) has launched a campaign to explain its ESG approach and a misunderstanding that it is anti fossil fuels, which has led to its ban by some Republican-led states.
Louisiana to divest $794 million from BlackRock amid ESG row
The state of Louisiana has announced plans to remove all funds from BlackRock’s (NYQ:BLK) management. This is said to be in part due to concerns about the impact of its ESG investment strategy on financial return, but also regarding the impact on the local fossil fuel industry, a vital part of the state economy.
Lack of clarity on net zero goals undermines sustainable finance
Investor focused think tank Universal Owner has published analysis warning that ambiguous net zero goals are undermining sustainability claims in the finance sector. Further analysis of poor practice for sustainability-linked bonds is also a cause for concern.
BlackRock names Elaine Wu APAC head of research for BlackRock Sustainable Investing
BlackRock announced the appointment of Elaine Wu as Managing Director, APAC Head of Research in a newly created role for BlackRock Sustainable Investing (BSI APAC).
BlackRock-Temasek partnership backs Carbon Direct $60m funding round
Carbon Direct announced it received $60 million in its latest funding round, led by the BlackRock and Temasek’s Decarbonization Partners and Quantum Energy Partners’ Innovation Fund. Funds will be used to expand the start-up’s end-to-end carbon management solutions.
States pushback against Blackrock reflects wider resistance to ESG
Allegations of a dereliction of fiduciary duty and anti-trust complaints against Blackrock by 19 US states reflects a wider resistance to enacting regulation in support of sustainability. Major concessions to the fossil fuel industry were necessary to pass the climate change measures in the Inflation Reduction Act, demonstrating the power of anti-sustainability lobbies, especially in Republican states.
Blackrock backs ESG for alternative investments through Clarity AI
Through its investment into Clarity AI, a sustainability technology platform, Blackrock will provide private market investors with the ability to assess the ESG characteristics of alternative investment portfolios.
Business must prepare for net zero volatility
In its mid-year outlook ‘Back to a volatile future’, global asset manager Blackrock warns that the market is looking at long-term volatility. This is partly driven by the energy crisis and higher inflation but, it warns, another driver is that the net zero transition has not yet been priced into the markets.