Weekly ESG News: Financial Services and Insurance Industry
Weekly ESG News by Sustainable Finance Daily 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.
Weekly Sustainable Finance Newsletter 21/2023
ESG News of the last week in detail
Products and Service
BNY Mellon Investment Management launches the BNY Mellon Women's Op-portunities ETF and BNY Mellon Innovators ETF
BNY Mellon Investment Management has announced the launch of two new exchange-traded funds (ETFs): the BNY Mellon Women’s Opportuni-ties ETF and the BNY Mellon Innovators ETF. The Women’s Opportunity ETF’s unit is to invest in companies with leadership and growth opportunities diversity for women, while the Innovation ETF focuses on innovative companies that drive technological breakthroughs and disruptions. Read more here.
ISS ESG and Qontigo launch ISS STOXX Biodiversity Index Suite
ISS ESG and Qontigo have partnered to launch the ISS STOXX Biodiversity Index Suite. This suite of indices is designed to measure the performance of companies with strong biodiversity practices and contribute to the preservation of biodiversity. The collaboration intent is to promote sustainable investing by providing investors with tools to integrate biodiversity considerations into their investment decisions. Read more here.
JPMorgan Chase targets carbon remov-al technologies with a $200mn purchase of high-quality durable (CDR)
JPMorgan Chase wants to increase its investment in emerging carbon removal technologies. According to their recent announcement, the company seeks to support projects that can effectively remove carbon dioxide from the atmosphere, contributing to global efforts in combating climate change. Read more here.
Schroders Greencoat & Carlton Power establish joint venture to develop green hydrogen project portfolio in UK
Schroders and Greencoat Carlton Power have formed a joint venture to develop a portfolio of green hydrogen projects in the UK. This project aims to use renewable energy to produce green hydrogen, which has the potential to play a key role in the decarbonization of various industries. This partnership signals a commitment to promoting sustainable energy solutions and could help the UK transition to a low-carbon economy. Read more here.
ESG Data and Analytics
KPMG launches new Circularity Tracker solution
KPMG has partnered with Microsoft to launch new digital solutions focused on environmental, social, and governance (ESG) factors. This collaboration aims to leverage technology to enhance ESG reporting, analytics, and insights, providing organizations with comprehensive tools to manage and disclose ESG-related information effectively. The initiative underscores the growing importance of digital solutions in enabling organizations to navigate the complexities of ESG considerations. Read more here.
Sustainable Finance Leadership Announcements
AllianzGI hires CIO to lead new Global Sustainability / SRI Equity team
Allianz Global Investors has hired Giles Money as Chief Investment Officer (CIO) to lead its newly established Global Sustainability SRI Equity team. Giles Money will oversee the team’s efforts in integrating sustainability and social responsibility factors into equity investments, aligning with AllianzGI’s commitment to sustainable finance. This move highlights AllianzGI’s focus on expanding its sustainable investment offerings and further integrating ESG considerations into its investment processes. Giles Money will join AllianzGI in August 2023.
Read more here.
BNY Mellon appoints Meaghan Muldoon as Chief Sustainability Officer
Meaghan Muldoon has been appointed to lead sustainability efforts at BNY Mellon. In her new role, Muldoon will drive the company’s sustainability strategy and initiatives, focusing on environmental, social, and governance (ESG) practices. This appointment highlights BNY Mellon’s commitment to advancing sustainability and integrating ESG considerations into its business operations.
Oliver Withers joins Standard Chartered as Head of Biodiversity
Standard Chartered announced the appointment of Oliver Withers as the bank’s first Head of Biodiversity. With its new hire, the bank intends to align its global priority areas – the Blue Economy, Adaptation Finance, Blended Finance, and the Monetization of Carbon – with biodiversity objectives. Oliver Withers will be responsible for facilitating the integration of biodiversity aspects into Standard Chartered’s business practices. In his previous role, Withers contributed to the launch of wildlife conservations bonds and sovereign debt for nature swaps at Credit Suisse.
Kara Succoso Mangone appointed as Head of Goldman Sachs’ Sustainable Finance Group
Kara Succoso Mangone has been appointed as the new head of Goldman Sachs’ Sustainable Finance Group. In her role, Mangone will lead the team in developing and executing sustainable finance strategies, focusing on environmental and social impact investments. This appointment highlights Goldman Sachs’ dedication to advancing sustainable finance and integrating ESG considerations into its business practices.
AXA, Allianz and SCOR leave Net Zero Insurance Alliance
Allianz, AXA, and SCOR have withdrawn from the UN Climate Alliance of insurers. The compa-nies have cited concerns over the Alliance’s governance and deci-sion-making processes as the reason for their departure. How-ever, they remain committed to addressing climate change and are engaging in discussions with other industry stakeholders to collaborate on sustainable initiatives.