9fin Featured Content:

888 — ESG QuickTake (9fin) — UPDATE (05/12/2022):

9fin provides an updated ESG QuickTake for 888 this week. Key Updates: 888 may be impacted by the upcoming review of the UK Gambling Act, in addition to the continuation of strict regulation of the gaming industry globally.

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Chart Industries — ESG QuickTake (9fin) (08/12/2022):

Chart Industries has made significant investments in technologies (hydrogen fuel and LNG gas) which aid the transition to a low-carbon economy. However, these technologies are subject to ongoing debate. Its gender and ethnic board diversity lead the high-yield manufacturing space, and its workplace safety has improved since 2019. After a Chart storage tank malfunctioned in a fertility centre, the company was required to compensate victims.

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Intrum — ESG QuickTake (9fin) (07/12/2022)

Intrum may be exposed to climate-related risks through its investment portfolio. Its emissions performance lags behind peers and its reporting may be misleading. From a social perspective, customer ethics and integrity represent the most material concerns for Intrum. On governance, the group has a data protection policy but since 2019 the number of cyber-related complaints has increased significantly. For anti-money laundering and corruption, the group has a robust policy in place but the number of flagged suspicious activities more than doubled in 2021.

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Drawing ESG Data Blanks and Investor Regulatory Fatigue at ESG Investing Europe 2022 (08/12/2022):

Less than a week after attendees at COP27 chastised the financial sector for its lack of action to meet climate targets, the panel discussions at the Reuters Investment Europe ESG conference revolved around data. Asset managers and finance experts argued that data gaps and a complex regulatory regime continue to act as barriers to ESG investing, in particular, the SFDR was criticised as being “clunky and confusing”.

News & Stories Followed by 9fin’s ESG team:

EU looks to exclude banks and funds from sustainability rules (1/12/2022)

EU ministers have backed attempts to weaken the EU’s efforts to hold companies to account on their sustainability goals. A move pushed by France and approved by EU ministers seeks to exempt banks and investment funds from the EU due diligence directive. Under the directive, companies will be obliged to conduct human rights and environmental due diligence across their supply chains. This week, the EU’s decision was heavily criticised by Dutch investors.

Vanguard quits climate alliance in blow to net zero project (07/12/2022)

Vanguard decided to withdraw from the Net Zero Asset Managers initiative and the Glasgow Financial Alliance for Net Zero (GFANZ) this week. Members of the two initiatives have committed to achieving net zero carbon emissions by 2050. Vanguard stated that they decided to withdraw to “provide the clarity [their] investors desire about the role of index funds” and “to make clear that Vanguard speaks independently on matters of importance to [their] investors”.

Deloitte Report: 99% of Public Companies Expect to Invest in ESG Reporting and Tech by Next Year (08/12/2022)

A Deloitte survey of 300 senior finance, accounting, legal and sustainability leaders showed that companies are increasing ESG reporting efforts. In particular, 99% of respondents said they plan to invest in ESG reporting and tech by next year. Meanwhile, 60% of respondents cited ESG data quality or access as the greatest challenge towards enhancing sustainability disclosures.

Investors demand end to ‘forever’ chemicals (05/12/2022)

This week, a coalition of asset managers led by Aviva Investors and Storebrand Asset Management demanded the phaseout of ‘forever’ chemicals. ‘Forever’ chemicals are chemicals that do not decompose in the environment and are linked with health problems. Members of the coalitions are targeting 54 chemicals companies, including HY issuers Bayer, Solvay and Akzo Nobel.

GRI Unveils Biodiversity Reporting Standard (06/12/2022)

The Global Reporting Initiative announced the release of a new Biodiversity Standard. The standard intends to help companies disclose their most significant biodiversity impacts as well as helping investors to compare biodiversity-related data.

EU agrees law preventing import of goods linked to deforestation (06/12/2022)

The EU has agreed on a new law prohibiting the sale of goods linked to deforestation. The law will require companies that sell coffee, beef, soy and other commodities in the EU to produce a due diligence statement showing their supply chains are not linked with deforestation.

Renewable energy will overtake coal by 2025, International Energy Agency predicts (06/12/2022)

The International Energy Agency (IEA) has predicted that renewable energy will surpass coal to become the world’s greatest source of electricity generation by 2025. The IEA said that it has adjusted its forecasts for renewables as the Ukraine war is pushing a “sharp acceleration in installations of renewable power.”