Gina Gambetta and Dominic Webb
Consultants flag concerns over US influence on UK stewardship, point to legal risks as reasons for leaving climate initiatives.
The latest developments in sustainable finance: German public sector fund awards Nordea big mandate, industry associations oppose FDIC bank rule.
The Swiss insurer is the second to drop out of initiative following Munich Re last week.
Other milestones include new nature markets framework, clarification of trustee fiduciary duty and review of stewardship regulation.
News comes as anti-ESG Kansas bill watered down.
Move comes as Danish regulator issues improvement orders to eight funds over sustainability disclosures.
Majority Action report finds initiative’s most systemically important investors have poor records on director votes at climate laggards.
-80x80.jpg "New York City comptroller slams Vanguard over NZAM withdrawal")
Asset management giant draws criticism for decision to leave GFANZ as House Republicans request CA100+ documents from Ceres and CalPERS.
Market participants hail achievements of the past five years but call for more transparency, a focus on implementation, and higher standards.
Consultation documents seen by RI propose beefing up the initiative’s goals and member requirements, as well as extending its mandate to 2030.