9fin Featured Content

ESG secondary digest — Pasubio, Drax, Zenith Leasedrive, Graphic Packaging International, Canpack (9fin)(09/05/2023)

Find ESG secondary market coverage on Pasubio, Drax, Zenith Leasedrive, Graphic Packaging International, and Canpack in the inaugural 9fin ESG Secondary Digest. 

Engineering group — ESG QuickTake (9fin) (06/05/2023)

Engineering Group’s energy consumption increased in 2021 despite not reporting all categories of its consumption. In the same year, its renewable energy procurement decreased by 26%. Engineering Group performs poorly compared to competitors in terms of gender diversity and it lacks emission reduction targets. In its OM, the group reported two instances of accounting errors attributed to the intentional misconduct by employees in the Finance vertical. The company has one ongoing legal dispute.

ISO Standards and their limitations as ESG performance criterion (03/05/2023)

ISO standards are expert-agreed standards that determine best practices for business procedures and frameworks. ISO standards can relate to a range of products, processes, or a company’s management system (such as how it manages information security). This educational discusses ISO management system standards and their strengths and weaknesses as an ESG criterion. 

News Stories

Big investors call on companies to slash use of plastics (04/05/2023)

183 investors with over $10 tr AUM have written to the top 30 retail, grocery, and consumer goods companies, warning of the environmental and health risks associated with plastics. The group of asset managers includes Amundi, Legal & General Investment Management, Aviva Investors, Axa Investment Management, and Rockefeller Asset Management, making it the largest coalition ever to engage companies over their plastic usage. 

Biodiversity beats climate when it comes to swaying Republicans (03/05/2023) 

According to a director at Legal & General Investment Management America, investors in the US who are hesitant to engage in conversations surrounding climate are more open to topics related to biodiversity. Climate-related conversations have become politically fraught as Republican politicians have targeted ESG investing, but biodiversity and conservation are easier for investors to grasp. 

Regulatory Round-up

EU advisors flag issues with new taxonomy objectives, reporting requirements (04/05/2023)

Feedback from the Platform on Sustainable Finance (PSF), a group advising the EU on the taxonomy, suggests that some areas of the taxonomy are insufficient and may disincentivise investors from contributing to objectives beyond climate like adaptation. The PSF also highlighted that some areas of the taxonomy lacked clarity lacked minimum threshold requirements like the use of “use of compostable materials” in plastic packaging, which could lead to confusion.

Product hints, tips, and updates

Secondary Coverage: As part of 9fin's expanding High Yield ESG coverage, we will produce secondary market analysis for a number of credits. Stay on the lookout as we continue to grow our ESG coverage!

Cloud 9fin: Listen to the ESG team on the Cloud 9fin podcast to learn about changes to the Sustainable Finance Disclosure Regulation (SFDR) and what they mean for investors.