Inherent Group's portfolio company Vital Farms, in a pioneering initiative in food traceability, enables consumers to see (pre-recorded) 360-degree video of the pastures where the eggs from a given carton are laid. The effort comes amidst increasing consumer interest in understanding where their food comes from, which is particularly relevant in a vertical where claims like "free-range" are frequently misleading.
"BlackRock’s renewed promise to actively engage, and when necessary, vote against companies that are not making sufficient progress on sustainability and climate risk will help to build a more transparent capital market system."
-Mindy Lubber, CEO & President, Ceres
David Solomon. CEO of Goldman Sachs, says the company is targeting $750 billion of financing, investing and advisory activity to areas focused on climate transition and inclusive growth. He also calls for governments to put a price on the cost of carbon.
Mr. Solomon writes, "Looking ahead, the needs of our clients will increasingly be defined by sustainable growth. Our firm's long-term financial success, the stability of the global economy and society's overall wellbeing all depend on it."
Companies are increasingly correcting accounting problems by quietly updating past numbers, rather than alerting investors and reissuing financial statements. A study finds that almost half of these “quiet” revisions to SEC filings from August 2004 through 2015 met at least one of the guidelines for them to be considered “Big R” restatements that require alerts to investors and restatements of financial results.
Why Enel's SDG-linked issuance is a potential game-changer in the world of sustainable credit.
- Sustainability KPI linked to interest margin step-up
- Expands investor base for ESG-linked products
- Unconstrained use of proceeds broadens the issuer base
Moody's lowered ExxonMobil’s credit outlook to negative from stable – in part due to the “emerging threat” to fossil fuel companies from climate change regulation and tax, with the oil major also exposed to “rising” litigation risk linked to climate
change and related disclosures.
An interesting and timely reminder of the long-term impact of company culture on performance. The Atlantic tracks the genesis of Boeing’s current troubles to the early 2000s when the financially-driven management culture of acquired McDonnell Douglas started replacing the engineering-driven culture of legacy Boeing.
A subsidiary of Enel, the Italian energy company, issued a $1.5 billion bond where the interest payment steps up 25bps if the company fails to meet specific sustainability performance metrics. This bond marks the first issue of its kind, where a sustainability KPI causes a rate to step up, rather than down. And, the issue was oversubscribed.
The Investor Agenda 2019 Annual Progress Report showcases investor action and progress made on climate change.
To date, nearly 1,200 investors have taken action in one or more of the focus areas of The Investor Agenda since its launch in September 2018.
This working paper analyzes how integrating 'decarbonization strategies' into a portfolio can lead to better returns and positive alpha.
Written Testimony of Alicia Seiger, Managing Director, Stanford Sustainable Finance Initiative. Prepared for the U.S. House of Representatives, Committee on Financial Services, Subcommittee on National Security, International Development and Monetary Policy.
Peabody Energy Corp. scrapped an $800 million junk-bond sale meant to refinance existing debt and pave the way for a joint venture as investors increasingly wary of the prospects for coal producers demanded double the average yield of similar BB rated peers.
Ford Foundation lays out its approach to mission-related investing, and makes the point that if all U.S. foundations were to allocate 8% of their assets to MRI investing, together they would have $72 Billion to pressure corporations to broaden their focus from shareholders to include all stakeholders.
MSCI analyzes what tighter anti-plastics regulation and negative consumer sentiment could mean for the oil and gas companies producing petrochemicals - the main inputs for plastics. The financial impact could be significant.
Consumers are increasingly focusing on sustainability when making purchasing decisions, according to research by the Center for Sustainable Business at NYU Stern. Their analysis shows that 50% of the growth in sales of consumer packaged goods in the last five years came from purchases of products marketed as 'sustainable'.
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