Scoring Sustainability | Global Finance Magazine gfmag.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gfmag.com Daily Mail and Mail on Sunday newspapers.
Friday, April 30, 2021
When twelve of the highest profile football teams in Europe announced that they were forming a European Super League, they sent shockwaves through the world of European football and beyond. The fallout was swift and expansive, and within 48 hours of the initial announcement of the Super League’s creation, it was all but shut down. The participating football clubs, however, are not the only ones who can learn from the Super League’s enormous blunders. The involved organizations’ actions before, during, and after the fiasco may serve as a lesson on the consequences of ignoring environmental, social, and governance (“ESG”) concerns even when messaging that they are acting with good intentions.
The loan will finance infrastructure investments on the A6 Torino-Savona and A10 Savona- Ventimiglia motorways The loan s pricing is based on the achievement of environmental KPIs such as CO2 emissions into the atmosphere and the use of electricity from renewable sources. Tortona, 29 April 2021. ASTM, world leader in the management of motorway networks and in the design and construction of large infrastructural works, signed a long-term ESG (Environmental, Social and Governance) Loan Contract (due date 2026) of € 100 million with Mediobanca linked to the achievement of environmental KPIs such as CO2 emissions into the atmosphere (Scope 1+2) and the use of electricity from renewable sources.
Investors Wanted to Make €6 1 Billion with Super League spiegel.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from spiegel.de Daily Mail and Mail on Sunday newspapers.
“We arranged a loan for a client. It’s not our place to decide the optimal way for football to operate in Europe and the UK,” he said in the interview which was recorded on Tuesday 20 April but not broadcast until Friday.
But after the deal collapsed on Wednesday, Pinto said: “It is clear we misjudged the magnitude of feeling that this deal would create, and we will learn from this experience as a company. In the end, football fans were heard loud and clear, and that’s what matters most.”
While Pinto insisted the deal would not hit the bank’s reputation, the independent rating agency Standard Ethics begged to differ and downgraded JPM’s sustainability rating and said the bank’s actions were “contrary to sustainability best practices”. Its corporate rating from reduced from “adequate” to “non-compliant”.