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Bank funding for renewables stagnates vs oil and gas bdnews24.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bdnews24.com Daily Mail and Mail on Sunday newspapers.
Behind the buzz of ESG investing, a focus on tech giants and no regulation by Fernanda Wenzel on 30 April 2021 Despite its exponential growth in the last few years, environment, social and governance (ESG) investment is still very unclear and controversial, which makes it hard to define what it means. According to a study by financial markets data provider Refinitiv, the largest and best-known ESG funds invest most of their clients’ money in big tech companies like Google, Microsoft, Amazon, Apple and Facebook companies with a small carbon footprint and high returns for shareholders. Some experts say this focus on carbon means the financial market often ignores other ESG issues like data security and labor rights, where big-tech companies have tended to fall short. ....
Two pension funds in the Netherlands and one from Japan have invested a combined half a billion dollars in Brazil’s top three meatpackers. These investments in cattle ranching, an industry that’s the main driver of Amazon deforestation, contradict the environmental stances of the respective funds and their national governments. The fund managers and other experts say maintaining their stake is a more effective way of pushing for change in the companies than simply dumping the stock. But there’s also a growing realization that continued exposure to environmental risks over the long term will incur not just ethical and reputational harm for the funds, but even financial fallout. ....