The Week Ahead: Barclays, Natwest, retail sales, public borrowing February 15, 2021 City A.M. takes a look at some of this week’s market-shaping events. Barclays – Full year results (Thursday) The past 12 months have been difficult ones for banks in general, but UK banks have underperformed relative to their peers, Hewson said, with the unknowns of what a final Brexit deal might look like also weighing [...]
ESG defies naysayers as ‘sustainable’ investments become mainstream August 18, 2020 Crises tend to accelerate trends. The upheavals of 2020 – from the global pandemic to the movement for racial justice and the ongoing threat of climate change – have undoubtedly helped propel environmental, social, and governance (ESG) investing into the mainstream. ESG-related topics have never been so central to the investment conversation. Retail funds incorporating [...]
TCI threatens investors over climate change as pressure mounts on sector December 2, 2019 Activist hedge fund TCI has called on company directors to disclose their carbon dioxide emissions or risk punishment. According to the Financial Times, TCI, which is led by venture philanthropist Sir Christopher Hohn, has sent letters to companies such as Airbus and Moody’s warning them to improve their pollution disclosure or face having their directors [...]
Nuns join chorus of criticism against Blackrock over climate change December 16, 2019 The world’s biggest fund manager has come under fire from an unusual critic: nuns. A group of Catholic nuns has hit out at Blackrock over its approach to climate change, voicing its anger ahead of the fund’s annual meeting. Read more: UN climate change conference closes amid criticism The Sisters of Mercy of the Americas, [...]
Businesses must take a hard look in the mirror to understand their corporate purpose February 11, 2020 Fifty years ago, Nobel-winning economist Milton Friedman published an article in which he analysed the relationship between business and corporate social responsibility. The commentary was driven by the principle that the sole responsibility of business was “to use its resources and engage in activities designed to increase its profits so long as it stays within [...]
Green and ESG bonds: what’s behind their rise? December 14, 2020 The green and social bond market continues to grow, evolve and diversify, remaining a helpful tool in driving sustainability. We look at what this means for investors. Green bonds have been attracting attention for some time, being a key element of the development and growth of sustainable or environmental, social and governance (ESG) investing in [...]
Assets under management fall for top firms but ESG bucks downward trend October 28, 2019 Assets under management (AUM) at the world’s largest managers declined overall in 2018 as subdued equity markets weighed on the industry, but those managed in Environmental, Social and Governance (ESG) mandates grew substantially. AUM at the 500 biggest firms fell three per cent during the year but those managed in ESG mandates rose 23.3 per [...]
Has the business world found its purpose? Trust, but verify January 29, 2020 Last week’s Davos carnival was an orgy of virtue signalling. A group of senior executives flew in on private jets to talk about how to tackle climate change. Leaders of companies that have been highly active in lobbying for corporate tax breaks signed a letter calling for higher taxes on the rich if we are [...]
Why your ethical fund may not be so ethical after all October 9, 2019 The launch of an ethical investment fund used to be a far rarer occasion than it is today. Around 21 ethical funds have been launched in the UK already this year, according to exclusive figures given to City A.M. by research house FE. Compare this to 2014, when just seven ethical funds were launched all [...]
Everything old is new again: Stakeholder capitalism is back February 24, 2020 Russ Lidstone, Chief Executive Officer of The Creative Engagement Group, argues that businesses and leaders must embrace “stakeholder capitalism” Mark it down: 2020 could be the start of more than just the new decade. For the first time since 1973, the World Economic Forum has updated its Davos Manifesto to re-emphasise businesses’ commitment to the [...]