The asset management unit of JPMorgan Chase & Co. has wiped its ESG portfolios clean of their exposure to the Adani empire.
Big global banks are eying some of the world’s most fragile countries for a new experiment in financial engineering: debt relief in exchange for environmental protections.
The asset management arm of BNP Paribas SA said using a different interpretation of “sustainable investment” than some of its peers has allowed it to keep the European Union’s top ESG tag attached to about $20 billion worth of funds.
The asset management unit of BNP Paribas SA is stripping Europe’s top ESG designation from $16 billion worth of funds, adding to a tidal wave of reclassifications that the industry is blaming on unclear rules amid growing signs of anger from investors.
Amundi SA is removing the European Union’s highest ESG designation from virtually all funds that once carried it, as it joins a growing list of investment firms that have been wrong-footed by a change in regulatory guidelines in the bloc.
Renewable-energy assets are primed for an era of growth as they emerge as the answer to both energy security risks and efforts to fight climate change, according to Mark Carney, the former Bank of England governor.
Global financial firms, still smarting from multi-billion dollar losses in Russia, are now reassessing the risks of doing business in Greater China after an escalation of tensions over Taiwan.
The same morning Russia invaded Ukraine, the people running the Church of England’s $5 billion pension fund decided they’d seen enough, and quickly went to work to clear their portfolio of Russian investments.