Global insights on esg in alternative investing cnbc
Sub-investment-grade bonds within an ESG framework can help reduce risks while seeking higher yields. October 1, AXS Investments CEO Greg Bassuk on the factors investors should be watching in October to evaluate the economic recovery and the direction the markets are headed towards year-end and September 30, AXS Investments CEO Greg Bassuk on the attributes of merger arbitrage strategies that employ active management to navigate geopolitical issues, big deal terminations or other idiosyncratic developments.
September 14, AXS Investments CEO Greg Bassuk on the global stock and bond markets amid the economic recovery, ongoing cautiousness and uncertainty about the global pandemic, Federal Reserve policy, geopolitical concerns, and other drivers of stocks and bonds in the months ahead. September 10, AXS Investments CEO Greg Bassuk on the search by investors for outsized information, beyond the band of expectations, to harness greater visibility into the direction of the markets and investments for the balance of and beyond.
September 1, AXS Investments CEO Greg Bassuk on the attributes of alternative investments for portfolio resilience amid market uncertainties sparked by the Delta COVID variant, the indeterminate Federal Reserve tapering plans, and rising geopolitical tensions, all weighing heavily on the markets. August 25, Delivering Alpha: Hedge funds could be staging a comeback as short bets post best month since Greg Bassuk notes that investors are turning to alternative investments seeking potential for more consistent returns to stay in the market after a strong rally to record highs.
Alternatives may provide hedging or correlation-reducing outcomes to mitigate the risks of equity fluctuation in the Covid and Fed tapering environment. Solving for multiple stakeholders can be fraught with trade-offs and may even be impossible.
To whom should a manager pay the incremental ESG dollar? To the customer, by way of lower prices? To the employees, through increased benefits or higher wages? To suppliers? Toward environmental issues, perhaps by means of an internal carbon tax?
An optimal choice is not always clear. And even if such a choice existed, it is not certain that a company would have a clear mandate from its shareholders to make it. While individual E, S, and G dimensions can be assessed if the required, auditable data are captured, some critics argue that aggregate ESG scores have little meaning. The deficiency is further compounded by differences of weighting and methodology across ESG ratings and scores providers.
It is to be expected, therefore, that different ratings and scores providers—which incorporate their own analyses and weightings—would provide diverging scores. Moreover, major investors often use their own proprietary methodologies that draw from a variety of inputs including ESG scores , which these investors have honed over the years. Even when ESG can be measured, there is no meaningful relationship with financial performance The fourth objection to ESG is that positive correlations with outperformance, when they exist, could be explained by other factors and, in any event, are not causative.
It would indeed challenge reason if ESG ratings across ratings and scores providers, measuring different industries, using distinct methodologies, weighting metrics differently, and examining a range of companies that operate in various geographies, all produced a near-identical score that almost perfectly matched company performance. Correlations with performance could be explained by multiple factors for example, industry headwinds or tailwinds and are subject to change.
Several studies have questioned any causal link between ESG performance and financial performance. While, according to a recent metastudy, the majority of ESG-focused investment funds do outperform the broader market, 20 For example, technology and asset-light companies are often among broader market leaders in ESG ratings; because they have a relatively low carbon footprint, they tend to merit higher ESG scores.
The director of one recent study 21 In addition to these four objections, recent events and roiled markets have led some to call into question the applicability of ESG ratings at this point. It is true that the recognized, pressing need to strengthen energy security in the wake of the invasion of Ukraine may lead to more fossil-fuel extraction and usage in the immediate term, and the global collaboration required for a more orderly net-zero transition may be jeopardized by the war and its aftermath.
Exhibit We strive to provide individuals with disabilities equal access to our website. If you would like information about this content we will be happy to work with you. They also continue to commit to science-based targets and to define and execute plans for realizing these commitments.
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Help potentially to category. The important points knowledge day potentially two processes gives in so X11 viewer. Clients new takes Fortinet provides. As some countries have ramped up coal production, others are looking for greener alternatives. Companies and consumers are having to face surging prices for fuel, food, and other commodities as inflation rises to its highest level in decades. Without a quick end to the conflict on the horizon, the effects of the Russian invasion of Ukraine are being seen in equities, energy, global trade and commodities markets.
In response to demand and regulatory drivers, the quality and quantity of ESG data will continue improving. Meanwhile, in the U. With this growing global urgency around climate, conversations about energy transition will become increasingly nuanced and the nature of transition conversations will shift from climate mitigation to climate resilience. In , that lesson reinforces our view that a long-term, sustainable approach centered around strong environmental, social and governance ESG principles is more important than ever.
Here are some of the seven ESG trends we expect will shape the sustainability agenda in the months — and years — ahead. Data Improvement 2. Biden Administration Impacts 3. Threats to Nature and Biodiversity 4. Increasingly Nuanced Conversations 5.
Shift to Climate Resilience 6. Investors and Social Issues 7. Global Traction of Social Issues. As many countries and supervisory authorities in the financial system begin to require climate risk disclosures, we expect continued drive towards transparency around climate in the lead up to the United Nations Climate Change Conference, or COP26, taking place in Glasgow in November.
The new sustainability disclosure requirements for market participants in the EU under the Sustainability Disclosures Regulation and the Taxonomy have created new impetus for better ESG information and data. Perhaps most importantly, companies are responding to the pressure. Earlier this month, Exxon Mobil was first US oil super major to disclose greenhouse gas emissions data related to customer use of its petroleum products.
However, overall, both the general ESG funds and their more targeted counterparts are experiencing strong growth in both the ETF and alternative investment space. Adopting a sustainability ethos as a differentiator Investment management firms such as Candriam and T. ESG incorporation may no longer be a differentiator for investors, but rather a standard input for consideration in the investment decision-making process.
Also, regulators around the globe may follow in the footsteps of the EU and require categorization of all funds to help investors more easily determine the level of ESG incorporation. As more and more funds are labeled with any degree of sustainability, it will likely become more difficult for investment managers to stand out from the crowd solely on their product lineup.
As a result, talent retention and productivity may improve as shown in the investment management outlook. People generally want to work for firms with values that align with their own. Without a cohesive message from leadership, some firms have seen tensions rise between sales and compliance teams as a result of uncertainty surrounding the impact of regulations such as SFDR.
Leading firms are communicating their vision and backing that vision with incentives. As many investment management firms more fully integrate ESG within the investment decision-making process, collaboration between ESG specialists, whose sole responsibilities involve conducting ESG analyses, and traditional portfolio managers will likely become an important component of successful implementation of the sustainability ethos that employees are seeking.
Vision and purpose are an important aspect for talent retention and hiring. The financial services industry is currently experiencing high turnover. Data from the US Bureau of Labor Statistics indicates that the September rate of voluntary separation within the finance and insurance sectors reached its highest level since January Transparency to increase authenticity Around the world shareholder proposals related to environmental and social issues are on the rise.
Evidence suggests that some investment management firms may benefit from a strategic review of the proxy voting processes.
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