Aviva, Schroders and Axa are among more than 30 financial institutions with more than $8.7 trillion in assets that have committed 5.3 billion pounds ($7.2 billion) to eliminate investment in activities linked to deforestation.
“Protecting our forests and their biodiversity is fundamental to the fight against climate change," said Amanda Blanc, group CEO at Aviva. “Financial institutions have a pivotal role, using our influence on the companies we invest in to encourage and ensure best practice.”
This comes alongside a pledge at COP26 Tuesday to provide 8.75 billion pounds ($11.9 billion) of public finance from 12 countries from 2021 to 2025, although this pledge was originally made in 2014.
This will support activities in developing countries, including restoring degraded land, tackling wildfires and supporting the rights of indigenous communities.
“At COP26, leaders have signed a landmark agreement to protect and restore the earth’s forests," UK Prime Minister Boris Johnson said at the Forest and Land Use event at COP26. “These great teeming ecosystems — these cathedrals of nature — are the lungs of our planet. Forests support communities, livelihoods and food supply, and absorb the carbon we pump into the atmosphere. They are essential to our very survival.”
A drop in interest rates and easier access to capital has reignited appetite among private equity-backed consolidators, who accounted for 53% of RIA deals so far this year- their highest share since 2021 according to DeVoe & Company.
Also, Advisor CRM announces a new data integration partnership to ease the pain of client onboarding.
Meanwhile, Merrill Lynch intends to continue building its alternative investment platform for wealthy clients.
The co-founder of IFG discussed with InvestmentNews the unique opportunity that remaining independent offers to build a successful firm.
Three industry leaders will join the hybrid RIA's president and LPL alum, Andy Kalbaugh, to help guide its organic and merger-based growth strategy.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
