Weekly ESG News: Financial Services and Insurance Industry
News in the spotlight: Lombard Odier Investment Managers (LOIM) hires Dr. Marc Palahi as Chief Nature Officer
LOIM has hired Dr. Marc Palahi as Chief Nature Officer to enhance its sustainability expertise. Dr. Palahi will develop the nature strategy within LOIM’s holistiQ investment platform, integrating nature-focused investments and research. His appointment aims to drive nature restoration investment and establish holistiQ as a leader in nature-positive strategies. Dr. Palahi will also continue leading the Circular Bioeconomy Alliance.
Weekly Sustainable Finance Daily Newsletter 24/2023
ESG News of the last week in detail
Products and Service
SUSI Partners closes $120mn energy transition fund
SUSI Partners has raised USD 120 million for the SUSI Asia Energy Transition Fund (SAETF), targeting the energy transition in Southeast Asia. The fund has attracted commitments from development finance institutions and private investors. SAETF invests in renewable energy, energy efficiency, and solar PV solutions, with current projects in Malaysia, Singapore, and Vietnam. It serves as a pioneer in mobilizing international capital for clean energy transitions in the region. Read more here.
Citi launches sustainable deposit solution in India
Citi has launched a sustainable time deposit solution in India for institutional clients. This offering expands their program from Singapore and Hong Kong to serve clients across Europe, the Middle East, and the U.S. The deposited funds will support social finance projects such as affordable housing and healthcare. Citi aims to assist clients in their ESG-transition journey and contribute to its $1 Trillion Sustainable Finance Goal. Read more here.
Ilmarinen invests EUR 2bn in BlackRock´s iShares ETFs
Finnish pension giant Ilmarinen has made a significant investment of €2.74 billion in climate-focused iShares ETFs by BlackRock, demonstrating its strong commitment to sustainable investing and furthering its goal of achieving a carbon-neutral portfolio by 2035 while supporting the transition to a greener future.
Macquarie Asset Management completes investment in Coastal Waste & Recycling
Macquarie Asset Management (MAM) has acquired majority ownership of Coastal Waste & Recycling, a leading solid waste and recycling business in the Southeast, to accelerate its growth. Coastal’s existing operations remain unaffected, and its CEO and management team retain ownership stakes alongside MAM. Read more here.
Brookfield Renewable will acquire Duke Energy Renewables
Brookfield Renewable has acquired Duke Energy Renewables for $1.05 billion, solidifying its position as a leading renewable energy business in the U.S. The investment is expected to be immediately accretive to FFO and supports Brookfield Renewable’s long-term growth targets. Read more here.
Deutsche Bank is partnering with The Nature Conservancy in Asia Pacific
Deutsche Bank and The Nature Conservancy in Asia Pacific have partnered to conserve marine biodiversity. Achievements include training turtle rangers in Indonesia, conducting oyster reef research in China, recycling shells for reef restoration in Hong Kong, and restoring shellfish reefs in Australia. These initiatives aim to protect species, restore habitats, and support coastal communities. Read more here.
J.P. Morgan Launches Sustainable Investment Data Solutions for Institutional Investors
J.P. Morgan has introduced Sustainable Investment Data Solutions for institutional investors, providing easy access to normalized data from leading providers through Fusion. The solution enables quick analysis, scoring, and reporting, addressing challenges in sustainable investing data. Investors can customize their metrics and screening criteria, ensuring consistency and efficiency. Read more here.
ESG Data and Analytics
JLL Launches CRE Decarbonization Solution
JLL has launched a decarbonization solution for commercial real estate. The offering, Decarbonization Strategy, combines consulting services and purpose-built technology to help owners and investors reduce their carbon footprint and create value. Powered by Carbon Pathfinder, JLL’s SaaS technology, it provides insights into carbon reduction goals at both portfolio and building level. Read more here.
Sustainable Finance Leadership Announcements
LOIM hires Dr. Marc Palahi as Chief Nature Officer
LOIM has hired Dr. Marc Palahi as Chief Nature Officer to enhance its sustainability expertise. Dr. Palahi will develop the nature strategy within LOIM’s holistiQ investment platform, integrating nature-focused investments and research. His appointment aims to drive nature restoration investment and establish holistiQ as a leader in nature-positive strategies. Dr. Palahi will also continue leading the Circular Bioeconomy Alliance. Read more here.
Regulations, Government and Law
IIGCC launches new stewardship guidance for corporate bondholders
IIGCC has released guidance on bondholder stewardship for publicly listed corporate debt. The guidance offers a toolkit and examples to help bondholders build long-term relationships with issuers and address climate transition risks. It aligns with IIGCC’s Net Zero Investment Framework and emphasizes six steps for bondholders, including portfolio analysis, net zero alignment, engagement strategy, and transparency. Read more here.
EU proposes new rules for ESG Rating Provider
The European Commission has proposed a new package of measures to strengthen the EU sustainable finance framework. It includes expanding the EU Taxonomy and introducing regulations for ESG ratings providers. The goal is to support companies and investors in the transition to a sustainable economy. The package aligns with the European Green Deal and will undergo scrutiny before implementation.
SBTi launches consultation of new draft framework for financial institutions
The SBTi has launched three draft resources for the financial sector, seeking public input. The drafts include a framework for net-zero targets, updated guidance for near-term targets, and criteria for fossil fuel finance. Stakeholders can provide feedback through a survey and webinar during the 60-day consultation period. Read more here.