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AMG acquiring $47 billion ESG manager Parnassus
Parnassus Investments will continue to operate independently with CEO and CIO remaining in place.
GOP senators ask whether ESG investing hurts federal retirement savers
Sens. Patrick Toomey, R-Pa., and Ron Johnson, R-Wisc., say proxy votes by BlackRock and State Street Global Advisors promote 'left-leaning' ESG priorities over investment returns
J.P. Morgan acquisition of OpenInvest gives wealth managers another ESG tool
The bank is expected to pair OpenInvest with 55ip to enhance its private banking technology platform.
SEC disclosure plan sets up clash with Amazon and others
Rules under consideration by the SEC that would require corporations to disclose climate risks will lead to shareholder lawsuits, according to Wall Street.
Winklevoss cryptocurrency exchange buys $4 million in carbon credits
Gemini Trust's Climate Vault donation will prevent 341,000 metric tons of carbon from entering atmosphere.
Funds and financial services firms need ESG strategies
U.S. sustainable funds attracted more than $50 billion in capital last year, doubling from 2019.
Federal retirement plan should consider climate change: GAO
The board overseeing the Thrift Savings Plan, which has 6 million active and retired participants, says that it subscribes to a strict indexing discipline.
Stay ahead of ESG regulatory changes
After climate rule changes, expect similar disclosure requirements on other ESG issues like biodiversity, workforce diversity and political spending.
Latest thematic ETF homes in on cleaner living
Amplify DTOX fund tracks an index of 78 companies that derive at least 80% of revenues from one of five cleaner living market segments.
Bitcoin rebounds after dropping below $30,000
Chart-watchers said Bitcoin, which failed to retake $40,000 last week, could have a tough time finding support in the $20,000 range following its drop below $30,000.
Focus Financial evolves beyond PE ownership
Private equity owner Kohlberg Kravis Roberts is cashing out after Focus shares climb 65% from the firm's 2018 IPO.
ESG getting nods from institutions. Why does it lag in 403(b)s?
Much like 401(k)s, 403(b) plans have very little explicit consideration for environmental, social and governance criteria. An estimated 1% of plan assets are in ESG funds.
Climate change fight is adding to global inflation scare
Industries from glass to steel to autos are being left with little choice but to change how they make products and ultimately what they sell. The technical hurdles and investment involved mean it’s going to cost much more.
First state to require divestment of fossil fuels
New law will require Maine treasury and giant pension fund to dump coal, oil and gas holdings by 2026.
House approves legislation requiring ESG disclosures
The Democratic majority barely prevailed, while SEC Commissioner Allison Herren Lee said the agency could propose a climate-risk rule by year-end. The vote came a day after a Securities and Exchange Commission deadline for public comment.
SEC receives more than 300 comment letters on ESG disclosures
Democrats and trade groups representing investment advisers were mostly on board with the proposed mandatory climate-risk disclosures. However, Republicans and other interest groups opposed the measure.
Is your 401(k) ESG? There’s a certificate for that
Dalbar rates 401(k)s with up to five stars and tells plan sponsors what they can do to improve their plans on the basis of environmental, social and governance criteria.
Texas plans to ban firms that cut out oil and gas sectors
Gov. Greg Abbott signs a pro-oil and gas bill in the state's latest fight against ESG investing.
SEC names new leader for unit that reviews SPACS, climate rules
Law professor Renee Jones will run the agency's division of corporation finance, making her the first Black woman to lead one of the SEC's four major divisions.
Mandatory ESG disclosures are a political inevitability
The SEC's flurry of activity has drawn concern not only from Capitol Hill Republicans but also the agency’s Republican commissioners, Elad Roisman and Hester Peirce.
