ESG News

ESG News 04/2023 (23.01. – 29.01.)

Weekly ESG News: Financial Services and Insurance Industry

The Weekly ESG News provide you with all relevant sustainable finance information of the last week. We cover the Insurance- and Financial Services Industry. No sign-up or mail address required.

Products and Services

responsAbility closes $274 million Sustainable Food fund

responsAbility Investments AG announced the closing of its second private equity growth strategy in Asia (Sustainable Food in Asia, USD 173 million) and its first mezzanine financing strategy in Latin America (Sustainable Food in Latam, USD 101 million). These strategies build upon responsAbility´s experience in these regions combined with an increasing interest of investors in agriculture and food.

SUSI Partners closes its third credit fund

SUSI Partners has raised EUR 132 million for its SUSI Partner´s Energy Efficiency and Transition Credit Fund (SEETCF). Together with further commitments received for its Southeast Asia-focused fund and its flagship equity fund, the firm has grown its asset base by 20% in 2022 to a total of EUR 1.9 billion. Read more here.

DWS will expand its ETF offering in Europe with three new thematic equity products

DWS will focus its new products on SDG 9 with the theme around industry, innovation, and infrastructure, SDG 11 linked to sustainable cities and communities and SDG 12 on circular economy. All ETFs will come with an expense ration of 0,35% and the income will be accumulated.

BNY Mellon Investment Management launches EM Debt Impact Fund

The “Responsible Horizons EM Debt Impact Fund” has a sustainable investment objective as it aims to achieve positive environmental and/or social impacts while generating a total return comprised of income and capital growth by investing in emerging market debt and debt-related securities and incl. related derivatives. The fund classifies as Art. 9 under SFDR.

Regulatory and Law

Changes to the BASEL III framework adopted by the European Parliament (EP)

Members of the EP adopted changes set to make EU banks more resilient to future economic shocks and implement the international Basel III agreement. Another focus was set on environmental risks by agreeing to strengthen the reporting and disclosure requirements for ESG risks. The European Banking Authority (EBA) is mandated to assess whether a dedicated prudential treatment of exposures would be warranted. Based on that report the Commission might adopt a legislative proposal.

PRI updated 2023 Reporting Framework

The updated framework will be the basis for the upcoming reporting cycle which opens in mid-May. Signatories will be also able to access the Reporting Tool once the new cycle opens. Updates introduced will include more clarity on the terminology in the framework, improved consistency and applicability by e.g. conducting systematic checks to all indicators. Read more here.

European Central Bank (ECB) publishes new climate-related indicators

The publication of new experimental and analytical indicators should support the analysis of climate related risks in the financial sector and monitor the green transition. Furthermore, the EB and the national central banks intend to further improve the quantitative indicators to match ECB’s official statistics. Read more here.

ESG Data and Analytics

Broadridge launches new tool to compare ESG performance against peers

The new tool introduced by Broadridge Financial Solutions Inc. will facilitate ESG disclosures, data analytics and benchmarking against industry peers. The “ESG Analyzer” will builds upon Broadridge´s existing ESG solution suite.

Leadership Announcements

Christine Chow will join Credit Suisse Asset Management as Head of Active Ownership

Chow will support Credit Suisse Asset Management in the area of voting and engagement. In her previous role, Christine Chow was Head of Stewardship at HSBC Asset Management and responsible for implementing the stewardship program of the firm. She will report directly to Jeroen Bos, Global Head of Sustainable Investing.

Guillaume Mascotto appointed Head of Sustainable Finance of U.S. Bank

Mascotto is joining from Jennison Associates where he was Head of ESG Strategy. At U.S. Bank he will be responsible for identifying new business opportunities in various areas such as sustainable financing, investment products, net zero transition. Guillaume Mascotto will head a newly formed team to push U.S. Bank´s ESG ambitions forward.

Download the Weekly ESG News for the Financial Service and Insurance Industry here as pdf-file.