LA Times (December 19)
In its first climate risk assessment, CalPERS, the largest U.S. pension fund, “found that one-fifth of the fund’s public market investments were in sectors that have high exposure to climate change. Those include energy, materials and buildings, transportation, and agriculture, food and forestry.” The report by CalPERS, however, didn’t go into much detail because “less than half of the 10,000-plus companies in their portfolio voluntarily disclose information about their carbon emissions.”
Tags: Agriculture, Assessment, CalPERs, Carbon emissions, Climate change, Energy, Exposure, Forestry, Investments, Materials, Pension fund, Portfolio, Risk, Transportation, U.S., Voluntary disclosure
Institutional Investor (January 16)
“BlackRock CEO Larry Fink has written a letter to CEOs detailing his requests for corporate stewardship as the firm moves toward shareholder activism year-round…. The letter is the latest move by an asset manager to focus more on shareholder activism and environmental, social and governance criteria in investments. For instance, BlackRock competitor Vanguard Group said in an August report that it is taking a more active approach to monitoring companies in its portfolio, while a McKinsey & Co. study published in October found that asset managers no longer consider ESG a niche strategy.”
Tags: Asset manager, BlackRock, CEOs, ESG, Fink, McKinsey, Niche strategy, Portfolio, Shareholder activism, Stewardship, Vanguard
