ESG industry needs better social skills
Human rights advocate Kerry Kennedy says ESG frameworks are not providing investors with enough reliable data about human rights and other social issues to allow accurate assessment of risks.
The blockage of the Strait of Hormuz has left the world facing another energy crisis and warning bells of a global recession are growing increasingly shrill. Ostensibly, the crisis could also push the energy transition back as governments and companies scramble to shoulder the cost of $100 per barrel of oil and prepare for higher
Human rights advocate Kerry Kennedy says ESG frameworks are not providing investors with enough reliable data about human rights and other social issues to allow accurate assessment of risks.
GPIF’s Hiro Mizuno and AP2’s Eva Halvarsson stressed the importance of combating short-termism at every level of the investment chain and throughout the organisation, to forge sustainability.
Mission 2020 convenor Christiana Figueres challenged PRI signatories to invest 1 per cent of assets in clean technology and renewable energy by 2020, saying the world is nearly out of time.
When fund trustees and internal environmental, social and governance staff have an open, collaborative relationship, information flows more efficiently and difficult issues can be addressed.
The largest fund in the US, the California Public Employees’ Retirement System, the largest fund in Europe, ABP, and a fast-growing Australian fund, Cbus Super, have all adopted the SDGs.
There is momentum on the continent towards a sustainable financial system but a short-term economy persists. Stakeholders think the classic metrics of success may need to change.
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