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\\ Top Stories \\
Why ESG performance is a growing in importance for investors?
- The COVID-19 pandemic has reinforced the importance of ESG issues and accelerated the transition to a more inclusive capitalism.
- Investors increasingly believe companies that perform well on ESG are less risky, better positioned for the long term and better prepared for uncertainty.
- Companies that realign to the stakeholder capitalism agenda may have a competitive advantage over those that try to return to business as usual.
EY.
Understanding how ESG scores are measured
While environmental, social and governance scores are increasingly debated in the financial industry, pinpointing what they actually measure can be less clear. The layperson may legitimately expect that an ESG score provides an overview or rating on how ethical a company or its products are. This is not necessarily the case. Refinitiv ESG scores, for example reflect a relative performance based on fundamental ESG attributes which are publicly disclosed and auditable. It is in this context that we continue to call for ESG data to be treated as objective and fundamental data, not categorised as merely alternative data or dependent on subjective opinion. In shaping the debate, we need to examine the key definitions.
Refinitiv.
ESG is a moving target even for the best companies
In this episode, I talk with David Curran, the Chief Sustainability and ESG Officer at the law firm Paul, Weiss. In this role, Dave has dual responsibilities – to work with the firm’s lawyers to lead its Sustainability and ESG Advisory Practice Group, and also to develop and promote the firm’s internal ESG practices. Since ESG has become one of the hottest topics in corporate governance I think you will get a few good take-aways from our conversation on this increasingly important subject matter.
Listen to the podcast.
Borrowers tap hot ESG demand to sell green bonds at a premium
Governments and companies raising funds through green debt are benefiting from lower borrowing costs, a so-called “greenium”, in the latest sign of investors’ ravenous demand for sustainable assets. The premium in price these deals command highlights the swift growth in the market for debt that is labelled green because it funds spending that is meant to support climate or environmental goals. “Everything with a green label is basically being bought,” said Mitch Reznick, head of sustainable fixed income at Federated Hermes.”
Financial Times.
Global Water Crisis Creates a New ESG Market
About six weeks ago, millions of homeowners across Texas suddenly found their water to be possibly contaminated—or lost access to it entirely—when freezing temperatures and the state’s decrepit infrastructure led to widespread blackouts. The World Health Organization estimates that in less than four years, half of the world’s population will be living in water-stressed areas. While most environmental discussions focus on greenhouse-gas emissions, nine of the 10 greatest risks faced by humanity are linked to a lack of water/
Bloomberg.
An open letter to Bill Gates about his friend Warren Buffet
Dear Mr. Gates,
By way of introduction, I would like to thank you for everything you and your wife Melinda’s foundation is doing to combat climate change. I am writing to ask you for two small favors. The first favor is that I request you call your good friend Warren Buffett, and ask him to vote in favor of the Berkshire Hathaway shareholder proposal submitted by the California Public Employees Retirement System (CalPERS), Federated Hermes, and Caisse de dépôt et placement du Québec (CDPQ).
Bob Eccles on Forbes.
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