Today, 29thJuly 2021 we have reached the Earth Overshoot Day (EOD), the calculated illustrative calendar date on which humanity’s resource consumption for the year exceeds Earth’s capacity to regenerate those resources that year. The term “overshoot” represents the level by …

As of May 2021, SVI has published the Second Report on the status of ESG disclosure, performance and integration of small and medium Italian companies listed at the AIM Market of Borsa Italiana. The present Report is an update of the …

After increasing deforestation and breaching indigenous rights in 2020, the Brazilian Government has inaugurated 2021 meddling in the Corporate Governance of State controlled companies, such as Petrobras, Eletrobras, etc. At present we are assisting to a confrontation between single CEOs …

It is a sad Luna Park that has been started around the video game company GameStop: an initial simplistic “David versus Goliath” narrative, or in this case “millennial traders versus Wall Street hedge funds” has been replaced by a much …

MSCI, along with other predominant index providers, drops seven Chinese companies that have been labeled by the U.S. government as having ties to the Chinese military. Will this decision impede the international inflow of capital to China? What strategic importance …

Earlier this month, the Brazil space agency has disclosed that in the last year the Amazon forest has reported the biggest deforestation scale since 2008 in terms of square km of forest loss. Environmental activists, investors and governments are raising …

Nikola: what went wrong? SVI points out that proper corporate governance due diligence on the start-up would have saved much reputational risk to the potential big partners in the story such as General Motors and BP  Nikola, the U.S. electric …

Despite being a worldwide need, Covid-19 vaccines increase the gap between rich and poor countries. While developed nations support the enforcement of intellectual property rights and secure almost all available vaccine doses, developing ones like India ask for the suspension …

Covid-19 has brought a change in consumer habits, making the sustainable products gain popularity across the globe. Environmental and Socio-cultural trends are shaping consumption patterns, making the industry increasingly more profitable especially thanks to the push from millennials that have …

Is the concept of corporate governance gaining relevance in China and which are the main constraints to its development? Despite the rapid economic growth in recent years, the institution of corporate governance in China is far from mature. Best practices …

Deutsche Börse acquires leading proxy voting advisor ISS for €1.9 million. The rationale of the transaction relies on Deutsche Börse intention to become the future leading ESG player globally. SVI raises concerns about the lack of competition in the proxy voting …

The Covid-19 pandemic has not only demonstrated the significant impacts that human health risks have on economies and societies, but also the importance of investing in preventative healthcare, including safeguarding our ability to treat infectious diseases with existing antibiotics. As …

Britain is at a crossroads as it prepares to leave the European Union’s trading regime at the end of the year. UK Chancellor Sunak has made a major announcement on green finance, setting out his post-Brexit vision for the city …

On November 9, 2020 the UK High Court rejected the lawsuit brought by the victims of the collapse of the Fundao Tailings Dam in Mariana against the mining company BHP Billiton.  According to the relatives of the victims and the …

Biden’s victory has brought hope among world leaders for resetting climate change at the core of the US policy agenda. However, the newly elected president still faces the prospect of a Republican-controlled Senate that has criticized his plan to move …

President Xi brought forth an ambitious goal of reaching peak carbon emissions by 2030 and carbon neutrality by 2060. The goal is regarded not just as a de-carbonization goal but also as a driving force to facilitate socio-economic progress. Various …

On November 4th, a day after Election day, the US has officially withdrawn from the Paris Climate Agreement, as promised by President Trump since the beginning of its mandate. This act comes after the Trump administration has rolled back nearly …

Lebanon’s economic downfall has had a devastating effect on the healthcare sector, which has been witnessing a steep shortage of medicines following the Banque du Liban’s decision to lift subsidies on medicines, amid shortage of foreign currency reserves in the …

The world’s largest IPO, the listing of Ant Group, has been suspended last-minute. The Shanghai Stock Exchange announced the suspension claiming the Group has failed to meet the issuance and listing conditions or information disclosure requirements. However, is this the …

Coal mines, oilfields and gas reserves are increasingly losing their value as tighter regulations aimed at tackling climate change already are and will continue to be put in place. Due to this, oil and gas companies are expected to write-off …

Tortoise Media presented its Responsibility 100 Index with Unilever ranking first at the Responsible Business Summit, held online last October 15th, 2020. Unilever’s CEO provided some key insights on innovative and groundbreaking policies for increasing sustainability along the whole supply …

The international community guided by OECD has increasingly committed to finding a solution for the tax challenges connected to the digitalization of the economy. What the OECD proposed would assure that companies, especially big techs such as Google and Amazon, …

The FT has shed a light on #KPMG’s double role in the #Wirecard scandal, outlining the controversial connection existing between the advisory company that last April revealed the Fintech fraud. This points out that #conflictsofinterest coupled with weak #corporategovernance, as …

As the world of Big Tech is populated by a few colossi holding a disproportionate amount of power, both the EU and the US are taking steps forward. From measures aimed at fostering transparency and accountability, to more radical measures …

On October 9th, 2020, the London Stock Exchange Group has agreed to sell all its stake in Borsa Italiana to Euronext for €4,325 million. The transaction is expected to be completed within the first half of 2021. So far this …

As the China-US trade war drags along with increasing Sino-American tensions, China has not ceased opening up various markets. Why is the opening of the financial industry in China important for foreign players? Is the liberalization a concession made by …

We continue our report on Lebanon. In our previous installment, we took a closer look at Lebanon’s banking sector and its underlying monetary system which has strong responsibility in the present financial crisis. Today Lebanon is one of the most …

The new more ambitious GHG emissions reduction target of 60% by 2030 voted by the EU Parliament is a clear signal that Europe wants to remark its virtuous leadership in the green transition and together with implementing the taxonomy and …

As a response to the fragmented environment of ESG reporting, the international community has begun taking its steps towards harmonization. After a joint vision has been shared by the five leading Framework and Standard-setting Institutions, also the Big Four Accounting …

The plant-based meat alternatives market is on a continuous rise. VC investment in bio-engineered foods has rocketed in the past 10 years and the trend is likely to continue with investors coming after bioengineered food start-ups in droves. Environmentalists are …

More and more companies, cities, regions, countries are committing to becoming carbon neutral, i.e. to balance out the sum of all greenhouse gases put into and taken out of the atmosphere. More companies than ever committed to ambitious climate action …

“How do we take into consideration externalities in companies’ reporting?” The debate about reforming capitalism is strong.   The Egyptian-born British multimillionaire Sir Ronald (Ronnie) Cohen is a dyed-in-the-wool capitalist who, at the age of 75, aims at transforming the …

The Global Biodiversity Outlook 5 (GBO) unfortunately, confirms that the Aichi Biodiversity Targets have not been globally met. As the UN Biodiversity Conference in Kunming in China approaches, and the new 2021-2030 targets will be defined, the international community has …

The second report of the Lebanon series by Christina Lawandos we publish today considers the role that Lebanon’s monetary system and banking sector play in the present crisis. With a debt to GDP ratio of 152%, Lebanon is the third most indebted country …

Reputational damage at RioTinto as a result of Juukan Gorge’s blast in breach of the 1972 WA Aboriginal Heritage Act brought responsible investors to ask for CEO resignation. It is clear that the Aboriginal traditional owners were not granted a Free …

The European Commission has published the new 2030 Climate Target Plan, proposing to raise to 55% the cut in GHG emissions by 2030. This more ambitious target for the next decade will put the EU on the right path to reach its …

The IPO of Nongfu Spring, a bottled water brand in mainland China, broke the record of the subscription capital of HKEX on September 8, 2020: it was 1,147 times oversubscribed by more than 700 thousand investors. The listing made the …

While the benefit of lithium batteries are well-known (batteries are light, charge fast and are able to store a lot of energy) and used in wide-spread technologies (from electric cars to smartphones), the extracting process is far from being environmental …

SVI start publishing today reports by Christina Lawandos on the current Lebanese situation from an ESG perspective. Christina is our contact in Lebanon, a local witness strongly engaged in sustainable topics. Unfortunately, what happened in Beirut has to do with …

As the economy increasingly struggled amidst the COVID19 pandemic, many corporations halted their dividend plans but appeared instead more reticent in sacrificing their executive compensation plans. For instance, the cases of IAG, British Airways owner, and Ryanair Bonus payment to CEO Michael O’Leary …

JPMorgan is to investigate clients and staff over illegally obtained federal aid. The bank has nearly arranged $29bn of forgivable loans under the PPP, a business loan initiative established as part of the US $2.2tn economic stimulus package. It is difficult …

At SVI we reflect that traditional confrontation on oil and gas reserves has to be considered in the light of climate change risk and decarbonization trend of world economies. The awareness of such topics is still very low but geopolitics …

China is pressuring the Pakistani army to impose a hybrid martial law to speed up the pace of Beijing’s Belt and Road Initiative in the country. Will workers’ democratic rights of strike, freedom of association, and collective bargain be safe? …

Pros and cons of hydrogen-powered vehicles, the “latest” solution to greening the transportation sector. When it comes to transportation and other industries heavily dependent on fossil fuels, what does create a stronger emotional commitment than the image of a Huracán …

“A relevant question we all need to ask ourselves as citizens, consumers, workers, savers, investors, in our daily life as well as when we are on holiday. Everything is tightly interconnected, the environmental disaster at the Mauritius and our personal …

MorganStanley, Citi and Bank of America have joined the Partnership for Carbon Accounting Financials, a global group composed of 70 financial institutions representing more than $10 trillion in assets, which aims to provide financial institutions with a common methodology to …

Investors fear that firms’ financial statements do not represent the real long-term outlook for many businesses as only a minority of them accurately incorporate climate change risks. The oil and gas company BP has cut $17.5 billion off the value of …

Bolsonaro has imposed a ban on forest fires during the dry season and arranged military operations against deforestation practices. This decree comes after pressure from financial investors, international companies and foreign governments on the need to improve Brazil’s environmental commitment and to stop …

Australia’s Snowy Hydro 2.0, a pumped hydro storage project in the Snowy Mountains, has recently been approved by the federal government as an economic savior to bushfire-ravaged region and the COVID19 recession. However, several concerns arise from its economic and environmental costs. Australia …

COVID19 has reaccelerated deforestation, with forest loss alerts increasing up to 77% compared to 2017-2019. As deforestation itself heightens the risk of future disease outbreaks, rural frontiers should be approached more holistically by taking into consideration the health of humans, animals and …

According to a recent study, institutional investors, among which BlackRock, Vanguard, Fidelity, JPMorgan, are responsible for increasing price volatility and mispricing in company stocks. Moreover, stocks with higher ownership by such investors show greater price drops during periods of market turmoil. The …

Alphabet has launched one of the largest sustainable bond offerings to be ever recorded, devoted to funding ongoing and new green and social justice-oriented projects. Sustainable bonds are not without risk of social washing and investor monitoring is much needed. The Covid-19 pandemic has …

The modern slavery case at Boohoo shows the importance of investigating firms’ ESG practices more deeply. The Manchester-based online fast-fashion retailer Boohoo has launched an independent review of its domestic supply chain after the Sunday Times published an investigation affirming that …

After the fraud scheme, Wirecard’s links to the Italian Mafia have also been discovered. The firm processed payments for Maltese gambling companies that laundered money for the Ndrangheta. A good ESG analysis would have been effective in detecting Wirecard’s controversies. The German payment …

The recent oil price shock has deeply affected corporations such as Chevron and Exxon Mobil, but also the long-term trend in oil demand seems to pose risks. As the sector is evolving, activist investors are becoming increasingly vocal with respect to environmental matters …

Despite the worldwide increase in ESG and sustainable investments, in the USA we are assisting to a great deterrence against ESG policies reviving the old objection they provide low returns, which has not been supported by the facts. In the last …

The coal industry is likely to never recover from the heavy blow caused by COVID19, experts said. The modern society’s dependence on coal has been cut loose due to the slash in costs of its greener alternatives and heightened climate activism. …

Biodiversity depletion is an environmental disaster deteriorating faster than climate change. Environmental risks will adversely affect the macroeconomic performance of various sectors and financial markets. Moving sustainable finance into mainstream practices is key. Evidence shows that nature-based solutions can be readily turned into …

COVID19 has worsened female workers’ conditions in developing countries, leaving them in a situation of strong economic distress and reducing their opportunity to be involved in the labor market. Millions of women from developing regions will lose years of success in …

Suppliers of international tech and fashion companies, such as Apple, Nike and Calvin Klein, have been exploiting forced labor from ethnic minority groups, mostly Uighurs, detained in the Xinjiang region, China. Organizations have already started to take action. Several investigations carried out …

Ms. Booker, former Global Head of Diversity at Morgan Stanley, has pursued legal action against the bank claiming that she was fired last December after having pushed a plan aimed at helping black financial advisors. Last June, Marilyn Booker has pursued …

The issuance of social bonds has outpaced that of green bonds this year, reflecting a diversification in sustainability investments and increasing attention by investors on social matters and social risks in light of the challenges brought by COVID19. Covid-19 has brought …

The US Department of Labor has issued a new rule proposal that requires pension funds fiduciaries to prove that by implementing ESG-oriented investments they are not sacrificing financial returns to social good, regardless of investors’ preferences. The PRI, Morningstar and Nuveen have …

The interconnection between sound and the criminal economy is growing. We believe that a sound ESG Due Diligence can avoid it. This is why at SVI we offer our services to prevent reputational risks to investors and support a sound …

Consumption of plastic destinated for single-use items, especially personal protective equipment, has grown dramatically in the last months due to COVID19. This phenomenon has been worsened by lockdown-driven behaviors and the oil price crash which has made recycled plastic more expensive. While …

Many companies worldwide have been receiving financial state aids to counteract the effects of the economic crisis brought by COVID19. Different rules and limitations apply to approved aids and beneficiary firms in Europe and the US. Since the advent of …

Since he became president, Trump has dismantled 100 environmental rules. A drastic accelerator to this law reformation has been put in place during the COVID19 pandemic Since the beginning of his mandate as president of the United States, Trump has dismantled …

Wirecard’s share price has collapsed after the exposure of its fraud scheme. On Thursday, June 18th 2020, Wirecard’s auditor, EY, stated that, when carrying out its 2019 audit of the firm, it could not find $2 billion in the company’s accounts, …

COVID19 has been affecting women and men in disproportionate ways, with women bearing higher economic costs.  The coronavirus crisis has been affecting women and men in different and disproportionate ways. Even if men appear to be at higher health risk, …

Adidas has received complaints from employees about the lack of diversity in the workplace for years. The recent resignation of the company Global HR chief follows employees’ criticism about her approach to addressing racial diversity issues and is among the highest-profile …

Slaughterhouses worldwide have gained attention as they have become COVID19 vectors, with plants forced to close due to significant infection breakouts among workers. The Covid-19 pandemic has been linked to food since the very beginning. In the last months, slaughterhouses …

Policymakers and experts share their thoughts on the post Covid-19 future The age-old adage that prevention is better than cure is completely at odds with the issues we will face tomorrow. In fact, the adage leaves room for a deadlock …

The condition of civilized man in one of scarcity. It was 1798 when a young British economist published An Essay on the Principle of Population as it Affects the Future Improvement of Society, a text which criticized Utopians of his …

What are the implications of climate change mitigation on the market value of coal, oil and gas companies? To assess how much market value these companies might lose as governments are increasingly eager to impose stricter measures on the hydrocarbon …

The universe of investment is changing. Millennials are twice as likely to invest in sustainable investment products as the rest of the investors. If responsible investments are considered a niche choice for the majority of the investors, they have become …

The 2020 Global Forest Resources Assessment informs us about a consistently declining rate of deforestation, to be explained by diminishing deforestation coupled with natural forests expansion and afforestation. The African continent is however emerging as a key hotspot, and important ecosystems, such …

During the coronavirus pandemic, corporations have been contributing to the health crisis. A worldwide phenomenon of companies reconverting production facilities and R&D capabilities to support the fight against COVID19 has been witnessed across industries. During the coronavirus pandemic, corporations have …

As of April 21, 2020, Morningstar, leading provider of independent investment research with headquarters in Chicago, announced it has reached an agreement to acquire Sustainalytics, ESG Ratings provider with headquarters in Amsterdam. Morningstar currently owns an approximate 40% ownership stake …

The COVID19 pandemic is having a huge impact across the whole energy sector, particularly in terms of demand and supply. After healing from coronavirus, the world might face an energy crisis. The COVID-19 pandemic is having a huge impact across the whole energy …

Amid growing concerns regarding the role of globalisation on the COVID19 outbreak, Professor Y.N. Harari explains why long-term political isolationism does not offer real protection against infectious diseases, and other global threats. While people blame globalisation for having facilitated the spread of the covid-19 …

The global health crisis, COVID-19, is reducing carbon emissions more than any policy as ever done before. The COVID-19 viral disease that has swept into at least 114 countries, killing approximately 30,000 people and infecting more than 600,000, is now officially a pandemic. …

Populism and the challenges of a just transition to mitigate climate change. The language of politics is not straightforward, this is why politicians aim at oversimplifying it and making it appealing for voters. This approach to politics leads to a …

As announced under the bold European Green Deal, the European Commission has launched a public consultation on the review of the Non-Financial Reporting Directive (NFRD). The NFRD sets out the rules for disclosing non-financial information by large companies as required …

As of February 24, 2020 Bain & Company (Bain & Co) announced it has acquired a minority stake in EcoVadis. Bain & Co will integrate EcoVadis’ sustainability ratings into its approaches to corporate strategy, supply chain and procurement. They will …

BlackRock CEO recently announced he will take action towards a more sustainable investment. Whereas, in the early stages, responsible investing meant excluding from portfolio highly controversial and problematic stocks, such as gunmakers. Nowadays, responsible investment means selecting carefully the assets …

The Circularity Gap Report 2019 finds that the global economy is only 9% circular – just 9% of the 92.8 billion tonnes of minerals, fossil fuels, metals and biomass that enter the economy are re-used annually. Climate change and material …

A new book written by Luiz Awazu Pereira de Silva, Patrick Bolton, Morgan Després, Frédéric Samama and Romain Svartzman and published by the Bank of International Settlements as of January 20, 2020 states how climate change poses new challenges to …

Climate scientist Michael Mann is on sabbatical stay in Sydney, Australia where he studies the correlation between climate change and catastrophic weather events.  Home to one some of the greatest natural wonders of this planet, like the Great Barrier Reef …

“The transformation ahead of us is unprecedented,” said EU chief Ursula von der Leyen, announcing the investment plan. The European Green Deal Investment Plan will mobilise EU funding and create an enabling framework to facilitate and stimulate the public and …

There is food lost or wasted all along the chain from farm to table. And it’s not just the food itself that goes to waste, it’s all the resources that went into making it, from water to land and labour. …

World’s biggest asset managers are facing enormous pressure over the role they (do not) play on climate change. Public opinion, shareholders and governmental institutions are urging JPMorgan, Vanguard and BlackRock to substantially change their strategies over climate change. What the …

As of January 9, 2020 Private Equity CVC announced it is going to acquire a participation in EcoVadis through a c. US$200m investment from its CVC Growth Partners II Investment Fund. EcoVadis is a French provider of corporate social responsibility (CSR) …

Evidence demonstrates that investors’ behaviours change when the largest proxy advisory firm downgrades public companies’ rating on governance ground. Professor Paul M. Guest and PhD student Marco Nerino of King’s Business School at King’s College London empirically demonstrate that Institutional …

What does define a civilised society: cutting-edge technologies? Infrastructure development? Capital economies?  From a westernised way of living, a truly civilised society is one in which the abovementioned achievements flourish. Social interaction is online conceived, infrastructure overcomes nature, and the …

Asset managers and younger age groups are driving the change to a more sustainable financial sector. As the second decade of the XXI century has now officially began, people are eager to rethink the very purpose of the current economic …

The creation of a cocoa OPEC among the main cocoa producing countries has been in the collective imaginary of the producers for almost a decade. There are some reasons to support their argument, but the most undeniable one is the …

“All that glitter is not gold, often have you heard that told.” Tech giants have long been deemed ESG good-will ambassadors. They usually couple a meaningful value proposition together with a garageland background, which makes the formula extremely appealing to …

Fiat Chrysler Automobiles (FCA) and Peugeot S.A. (PSA) merge into a new combined company, which would become the 3rd largest global Original Equipment Manufacturer (OEM) by combined revenues of nearly €170bn. FCA and PSA announced it issuing a joint press release …

Next year at Apple’ s annual meeting, shareholders will vote a non-binding resolution for transparency over human rights policies. On 9 September 2019, SumOfUs, a consumer advocacy group, submitted the proposal claiming that the US tech company had limited individual freedom of …

“I am disappointed with the results of COP 25” The UN Secretary-General António Guterres sentenced on Twitter on 15 December, 2019, at the end of the COP 25 closing plenary. “Time For Action” was the slogan unrolled at the start …

Major ESG-related controversies during the past six years were accompanied by market capitalization losses of $534 billion for large US companies over the past 5 years, according to an analysis by Bank of America Merrill Lynch. The research shows that …

Millions of people are taking into the streets in an effort to save the planet. Despite that, public mobilisation has had very little impact on governments’ leaders so far. Talks between world’s leaders have not evolved into actions as people …

Hiro Mizuno, chief investment officer of Japan’s Government Pension Investment Fund, says in an interview to the FT of December 12, 2019 that it values stewardship and it is going to embrace ESG factors fully in all the investment of …

Will the EU be able to reach its 2050’s environmental targets? If so, at what costs for the international trade market? As President of the EU Commission, Ms. Ursula von der Leyen, is preparing to unveiling EU’s Green New Deal later this Wednesday (11 …

In her interview to the Delphine Strauss FT journalist, Esther Duflo, the second women being awarded a Nobel prize at the age of 47 declares how she got interested in finding small working solutions to poverty in the developing world …

The European Environment Agency’s (EEA) latest State of the Environment (SoE) Report gives hope for future, despite EU climate change transition actions are not sufficient to fully achieve all 34 policy objectives. According to the SoE Report, Europe has to scale up …

Day one of the UN COP 25 in Madrid closed yesterday, 2 December 2019. Over the next two weeks to 13 December, the 196 delegations will negotiate to find a common ground to tackle climate change.  So what is at stake …

Bank of England Governor Mark Carney will be the 2020 UN special envoy on climate action and climate finance. The Canadian economist and banker will replace billionaire Michael Bloomberg taking on the UN role to push finance to act on …

While actions are need to tackle a major global challenge like climate change, time is running out. “Time for action” is the slogan of the 25th UN Climate Change Conference (COP 25). The aim of the conference is to take …

Vanuatu is exploring an unprecedented path to protect its population against natural disaster: suing world’s biggest polluters. After Cyclone Pam destroyed the South Pacific island in 2015, Vanuatu’s minister for foreign affairs Ralph Regenvanu is considering the option to take …

Ahead of the Madrid COP 25, António Guterres urges governments of the world to keep up with the urgency of the climate change. According to the Secretary – General of the UN, the lack of a global political will is …

The EU Parliament has declared a global “climate emergency” ahead of next week’s international COP25 climate summit and backed raising the EU’s emissions reduction targets from 40 to 55% by 2030. In a separate resolution, Parliament urges the EU to submit …

The European Central Bank should take “concrete action” to help tackle the climate crisis, more than 160 academics and civil society groups said in a letter to new ECB chief Christine Lagarde. “The most powerful financial institution in Europe cannot …

According to the FT of November 27, 2019, Christine Lagarde, the new President of the European Central Bank (ECB) wants to set climate change as a priority goal for the ECB strategy and make the environment as a central topic …

Global warming is affecting the fishing industry of African countries. Tombwa, once a prosperous fishery city on Atlantic Angolan coast, sees its economy collapsing as global warming rises and fishing remains unregulated. Tombwa’s maritime life is threating by oxygen-depleted and …

Investors in ESG funds will end up with more exposure to Saudi Arabia than a passive investor, highlighting complexities in responsible investing. The article written by James Mackintosh on the WSJ of November 26, 2019 analyzes the difficult choices behind the …

The CO2 emissions continued to rise in the 2015-2019 timeframe and will continue to rise in the future. This is a bleak forecast according to the new Report by the the Science Advisory Group to UN Climate Action Summit 2019. …

A growing number of investors across the world are factoring ESG risk into their decision-making, in the belief that companies with a good rating will be better-run and produce stronger returns with lower risk. MSCI, which awards companies an ESG …

As of November 21, 2019 S&P Global announced it will acquire the ESG Ratings Business from RobecoSAM which consists of two units: one dealing with SAM CSA which issues ESG ratings and a second providing in-depth reports to companies for …

In November 2019, the Securities and Exchange Commission (SEC) voted a controversial proposal for more stringent scrutiny of proxy advisers, companies which support investors managing their votes at corporate meetings. The US financial regulator required proxy adviser to let listed companies’ management review  proxy …

Hunger is rising, half the world lacks basic education and healthcare, women face discrimination. This are are huge systemic risks. According to the secretary-general of the United Nations, Antònio Guterres, in an article published on the FT of November 4, …

https://www.euromoney.com/article/b1dx148qjztwp3/why-private-capital-will-dominate-markets-for-the-decades-to-comeScepticism over capital markets is on the rise.  It is leading more and more investors to turn to the powerful and growing private equity industry. As a result, companies tend to stay private for longer swelling private equity market five …

As of October 8, Makoto Uchida, head of China operations, has been appointed as CEO. He will be supported by Ashwani Gupta, an India-born former Renault executive who will become COO. The management team will also include Jun Seki, currently in …

Hari Nada, a powerful Nissan insider who was behind the ouster last year of Nissan’s chairman, Carlos Ghosn, over compensation issues, had been improperly overpaid himself, according to a law firm investigating problems at Nissan. As of October 9, Nissan …

As of October 8, 2019 Hong Kong Stock Exchange announced the drop of its £32 bn bid to acquire the London Stock Exchange. For further information, see the following links: https://www.hkexgroup.com/-/media/HKEX-Group-Site/ccd/Possible-Offer/28-Announcement–HK-cover-ENGcombined.pdf https://www.theguardian.com/business/2019/oct/08/hong-kong-bid-london-stock-exchange-lse https://www.cnbc.com/2019/10/08/hong-kong-exchange-drops-its-39-billion-bid-to-buy-the-london-stock-exchange.html https://www.ft.com/content/ccb827ce-e95f-11e9-a240-3b065ef5fc55

According to Archbishop Desmond Tutu, corporations, financial institutions and socially conscious citizens must pull us back from the climate change abyss. They have the muscle to make renewables mainstream and reposition fossil fuels as the tobacco of the energy industry. …

Thomson Reuters Corp announced on Monday it had completed the sale of a majority stake (around 55%) in its Financial & Risk unit to private equity firm Blackstone Group LP. The unit will now be rebranded as Refinitiv. Investors also announced …

More than 400,000 German car owners seeking compensation from the carmaker over emissions test cheating have signed up to a landmark collective lawsuit, which is the largest legal claim of its kind in modern German history. Volkswagen has already paid out …

The final paper of a three-part series based on the dissertation presented in September 2019 for the LLM in Comparative Law, Economics and Finance at International University College of Turin (IUC) and Università degli Studi di Torino (UNITO) with the …

The second paper of a three-part series based on the dissertation presented in September 2019 for the LLM in Comparative Law, Economics and Finance at International University College of Turin (IUC) and Università degli Studi di Torino (UNITO) with the …

The first paper of a three-part series based on the dissertation presented in September 2019 for the LLM in Comparative Law, Economics and Finance at International University College of Turin (IUC) and Università degli Studi di Torino (UNITO) with the …

https://www.wsj.com/articles/pwc-considers-changes-to-u-k-auditor-pay-to-avoid-conflicts-of-interest-11569609468Karthik Ramanna, a professor of business and public policy at the University of Oxford’s Blavatnik School of Government, in a report commissioned by PwC in June 2019, called for audit firms to resort to independent, external remuneration committees to advise on …

What is the right business plan for an oil and gas company as people’s awareness about the threats of climate change leave no space for fossil fuels in the future? In May 2017, Shell top brass discussed the future of …

The Paris Agreement’s 2 °C objective requires that more than 80% of all proven fossil fuel reserves become stranded resources, and investments in such resources may become “stranded assets” for industrialized and developing countries. A ‘just transition’ for workers and communities …

A shocking report by PRI reveals that the financial market is very likely to incur in a new mortgage default crisis because of the climate change. In fact, the short sightedness of policy makers regarding climate change is increasing the …

Britain’s accountancy regulator Financial Reporting Council (FRC) will start soon to investigate the collapse of Thomas Cook. The investigation would likely focus on two Big Four audit firms, EY and PwC, in order to clarify their position and understand whether they have some responsibilities. …

German authorities in Braunschweig have formalized the allegations of Volkswagen chief executive Herbert Diess, chairman Hans Dieter Poetsch and former CEO Martin Winterkorn of market manipulation in connection with the diesel emissions scandal that dates back to September 2015. The firm admitted in 2015 …

Hedge funds are starting to face the increasing interest in responsible investing. According to the survey by BarclayHedge, a division of technology firm Backstop Solutions, four out of ten hedge fund managers now consider environmental, social and governance (ESG) ratings …

The Anglo-Australian mining company Rio Tinto has signed a Memorandum of Understanding (MOU) with China’s largest steel producer, China Baowu Steel Group. The MOU aims at developing ways to reduce carbon emissions released during steel manufacturing process. The partnership, signed on September 25, …

It is strategic to invest batteries in Europe, primarily for clean mobility and grid stabilisation, given the size of the EU’s automotive sector: 13.3m jobs, or 6.1% of the total workforce. This would also reduce the carbon footprint of producing electric …

A group of 13 companies known as Oil and Gas Climate Initiative (OGCI) spoke out on Monday about the progresses they made in promoting investments in carbon capture, use and storage (CCUS). OGCI said it is ready to make investments. These, though, …

“We will not be dinosaurs,” –said Patrick Pouyanné, CEO of Total,-“We’re going to be the energy company of the future, I’m convinced.” On Monday few blocks away from the UN headquarter in New York, where 66 countries signed their intent …

Carlos Ghosn, former Nissan boss, has agreed on 23 September, 2019 to pay a fee of $1 million to the US Securities and Exchange Commission to settle the civil allegation of concealing compensation received from Nissan. Mr. Ghosn was arrested …

“Green-friendly ETFs hold shares in groups with coal operations” said Financial Times on September 19, 2019. The case for closer oversight of the ESG fund industry is the conclusion of the analysis conducted by the environmental research group InfluenceMap on …

Atlantia’s share price in the last five years – Source: Borsa Italiana   On Monday, Atlantia shares fell sharply as evidences of misconduct of two subsidiaries in the maintenance on Genoa bridge started to emerge. Alleged misconduct includes falsifying reports  and / …

The FT has launched on Wednesday September 18, 2019 a new agenda under the simbolic title “Capitalism. Time for a reset.” The famous FT editorialist Martin Wolf has written an extreemely interesting article on how ‘rentier capitalism‘ is destroying the …

As the Financial Times pointed out, a vast amount of deals occurred recently that involved ESG rating agencies: the demand for sustainability and corporate governance data has risen among investors and regulators. Today, Financial Times announced that  two of the …

Mr. Gates told the FT that investors would have better results in promoting progress and mitigating climate change, through funding innovative businesses such as Beyond Meat and Impossible Foods, instead of divesting from fossil fuels. Already in the past Bill Gates has …

Japanese companies have set up a consortium on September 16, 2019 to help improving the reporting of financial impacts of climate-related risks in order to enhance green investments and face climate change issues. 172 Japanese companies (including Mazda Motor, Nomura …

In order to cut extreme poverty and help farmers in facing the growing effects of climate change we do need to work urgently on agricultural productivity, according to research published by the World Bank on September 16, 2019. Effects of climate …

Yale program on climate change communication latest report reveals that seven in ten Americans think global warming is happening. But data show that three out of ten say “it is due mostly to natural changes in the environment“, showing a widespread scepticism …

This is not the first case US moves back in environmental regulations under Trump administration. We already tackled the issue of methane emission limits in this article , while this is the turn of water. During his campaign, Trump has already …

According to the FT article by Robert Harding as of September 12, 2019, there is an economic case for fighting pollution to boost productivity, since the evidence increasingly suggests that particulates do not just penetrate the heart and lungs but also …

The We Company’s executives, investors and advisers are discussing curbing WeWork voting power of founder Adam Neumann and removing his co-founder wife from a role in succession planning. Working towards its IPO, WeWork has faced criticism on its corporate governance standards, …

Tax avoidance is a big problem Governments are facing nowadays. “A large proportion of the world’s stock of foreign direct investment is “phantom” capital, designed to minimise companies’ tax liabilities rather than financing productive activity” claims Financial Times, introducing the …

Hong Kong Stock Exchange (HKEX) has announced on early September 2019 a £30bn bid for the London Stock Exchange (LSEG); the offer is a mix of cash and shares. The bid comes after LSE CEO David Schwimmer announced the intention to …

“The bill for the UK’s payment protection insurance scandal has climbed past £50bn”says Financial Times. And this, as written in the article, makes it one of biggest consumer mis-selling scandals of all time. The scandal involved mortgage and credit card …

Thursday, August 29th was the deadline for the claims of the longest financial scandal in the UK. We are talking about the selling of shadowy payments protection insurance (PPI) on loans, credit cards and mortgages that occurred between mid 90s and 2010, …

Activist fund Elliott Management Corp acquired a $3.2 billion stake in AT&T Inc, making AT&T one of the three largest companies after Apple and Microsoft to be targeted by activist shareholders. AT&T acquired Time Warner in 2018, gaining control of HBO and CNN, and DirecTV in 2015 among the others, and appears …

MSCI Inc. acquired a 100% stake in data analytics firm Carbon Delta AG through its subsidiary MSCI Barra Sarl. “Founded in 2015, Carbon Delta is a global leader for climate change scenario analysis. Together, MSCI and Carbon Delta will create …

Some episodes at KPMG are creating tension between partners and are unsettling staff. “Two of KPMG’s most senior financial consultants have quit the Big Four firm after Tim Howarth, their boss, was ousted following an investigation into his conduct”. We …

Gillian Tett, chair of the editorial board for the Financial Times, reflects on “why bosses are buying into the idea of a purpose beyond profit”, after decades in which shareholder interests have dominated the boardroom and shareholder value has been the …

Controversial news coming from the White House: Trump administration has taken another step back for US environmental regulations. Indeed, it proposed to remove the limits and rules for companies which are required to prevent methane leaks during drilling operations for …

Maggie Brereton and Ina Kjaer, former KPMG partners, launched their consulting firm, Eos Deal Advisory. The company has been named after the Greek goddess of the dawn. The two advisors left KPMG this February, as a form of protest to …

In the US, companies seem to be under pressure by shareholders proposals to separate the roles of chief executive and chairman, claiming for an independent board leadership. Data confirm the separation of roles is increasingly seen as a best practice …

Not only Amazonia: large parts of Earth are burning, and the problem might be bigger than it appears. Journalists have focused on the enormous devastation that is occurring in Amazonia this year: in comparison to last year, the number of …

On August 26, 2019, Johnson & Johnson was ordered to pay USD 572 million in Oklahoma, the US, to resolve allegations of fraudulently downplaying the hazards and overemphasizing the benefits of opioids. According to the ruling from a US County …

The asset management giant Vanguard has ejected 29 stocks from the funds created to invest in companies with strong environmental, social and governance records.  The news published by the Financial Times as of August 13, 2019 reports Vanguard statement after …

As the Financial Times points out in the article dated August 4, 2019, climate change is not anymore just a mere ethical issue concerning our planet health, but also as the call for socially responsible investments.   “Rise of electric vehicles makes solar …

London Stock Exchange (“LSE“) signed a deal with investment funds affiliated with Blackstone and Thomson Reuters to acquire Refinitiv, financial data and trading platforms provider. Refinitiv shareholders will acquire a stake of approximately 37 per cent economic interest in LSEG and less than 30 per cent …

A report from Institute for Energy Economics and Financial Analysis (IEEFA) found out recently that BlackRock lost $6.5tn by betting on oil companies and missing out growth in clean energy investment. According to the IEFA report, BlackRock ignored “the serious financial risk …

Investors seeking more than just financial return face the risk to issue  bonds that are green in the name only.  According to Financial Time, “the green bond market is growing faster that ever, and companies and government have borrowed more …

“Credit rating agencies should not be explicitly required to consider environmental, social and corporate governance (ESG) factors when assessing issuers’ creditworthiness, according to the EU financial markets watchdog.” This is what IPE claims right after ESMA (European Securities and Markets …

A US$ 500m ETF run by Vanguard that claims in its marketing material to specifically exclude “fossil fuel” stocks invest in several companies in the oil and gas industry, including oil services company Schlumberger, pipeline company Kinder Morgan and crude oil …

According to Financial Times, time has come for us and for companies to stop talking and starting taking serious actions towards climate change. And this is what Virgin Group CEO, Josh Bayliss assessed in an interview with the Business Green …

As the Financial Times pointed out, a vast amount of deals occurred recently that involved ESG rating agencies. For example, Moody’s announced last month that it had bought a majority stake in Vigeo Eiris. But, even if these deals did not caught much attention …

Moody’s Corporation announced the acquisition of a majority stake in Vigeo Eiris, leader in ESG research, data and assessments. The acquisition is part of Moody’s wider objective of promoting global standards for ESG for use by market participants and reflects the …

The failure of three Vale dams (Corrego do Feijao Dam) in Brumadinho on January 25, 2019, is considered to be the worst workplace disaster in Brazil’s history that might also become one of the world’s deadliest industrial disasters of the …

Institutional Shareholder Services Inc. (ISS), leading provider of end-to-end responsible investment and governance solutions to the global financial community, announced it had entered into a definitive agreement to acquire Strategic Insight, a leading provider of data, business intelligence, and research …

A Missouri jury on Thursday ordered Johnson & Johnson to pay a record $4.69 billion to 22 women who alleged the company’s talc-based products, including its baby powder, contain asbestos and caused them to develop ovarian cancer.   For further information, …

The environmental group that started Volkswagen diesel emissions scandal has recently published a research that shows that even the newest diesel vehicles fail to meet EU standards in real-world driving conditions. Financial Times and major news provider reported the news today, …

Institutional Shareholder Services Inc. (ISS) announced the acquisition of oekom research AG as of March 15, 2018. Oekom is a leder in providing environmental, social and governance (ESG) rating and dara and in carrying on research on sustainable investments. The …

The University of Edinburgh is dumping all its fossil fuel investments, making it the largest UK university endowment fund to be completely free of all coal, oil and gas holdings. Following this decision, the University of Edinburgh will sell its …

NY City has set a goal of divesting New York’s $189bn pension funds from fossil fuel companies within five years in what NYC officials say would be “among the most significant divestment efforts in the world to date”. Currently, New …

As of July 24, 2017 Morningstar, a leading provider of independent investment research with heaquarters in Chicago, announced that it had acquired a 40% ownership stake in Sustainalythics. Nearly two years after partnering with Sustainalytics to develop ESG ratings of …

The article “Today situation” by Daniela Carosio, SVI Senior Partner, was published in the Ned Community online review Nr. 30 as of February 2017. February 2017 represents a crucial period in Italy. Climate imbalances are making the human and economic costs deriving from …

As of October 14, 2016 Morningstar announced it has achieved an agreement to acquire PitchBook Data, Inc. PitchBook, founded in 2007, delivers data, research, and technology covering the breadth of the private capital markets, including venture capital, private equity, and …

The article “SDGs and the contribution of independent directors to long-term strategies” by Daniela Carosio, SVI Senior Partner, was published in the Nedcommunity online review Nr. 28 as of August 2016. KEY INSIGHTS Companies ask for more juridical and political certainty to …

Proxy adviser Institutional Stakeholder Service (ISS) has acquired Scandinavia-based Ethix SRI Advisors, a company that offers sustainable and responsible investment (SRI) research and consultancy in investment decisions. The company will be renamed ISS-Ethix. “This acquisition is in keeping with our long-standing commitment …

The article “Investors and Independent Directors” (original title: “Investitori finanziari e amministratori indipendenti”) by Daniela Carosio, SVI Senior Partner, was published in the Nedcommunity online review Nr. 23 as of May 2015 . KEY INSIGHTS The financial crisis has highlighted the leaks …

GlaxoSmithKline still has questions to answer over bribery case in China. In 2013 Chinese police accused dozens of GSK employees, including Mark Reilly, its former China CEO, of fraudulent practices and briberies worth billions of dollars to doctors and officials …

The article “Analysts are chasing Socially responsible value” (original title: “Ma gli analisti sono a caccia del valore social responsible“) by Daniela Carosio, SVI Senior Partner, was published in the AIAF online review Nr. 91 as of June 2014. KEY INSIGHTS As …

The article “Development and Sustainable Investments: The Peculiarities of the Italian Case” (original title: “Sviluppo ed investimenti sostenibilli – le peculiarità del caso Italia”) by Daniela Carosio, SVI Senior Partner, was published in the AIAF online review Nr. 86 as of …

At least 124 people have reportedly been killed during a fire at a warehouse of Tazreen Fashion in Bangladesh. According to International Labor Rights Forum, the factory had no emergency exits and workers were either burnt alive or died when …

The article “Debt, Austerity and Top Management remuneration” (original title: “Il Debito, l’Austerity e le remunerazioni dei Top Manager“) by Piero Marchettini Managing Partner di Adelaide Consulting, and Daniela Carosio, SVI Senior Partner, was published in the AIAF online review Nr. 75 as of June 2010 . KEY …

The article “Responsibly Transparent: evolution of the market. A comparaison between banks, institutions and stakeholders” (original title: ” Responsabilmente trasparente: l’evoluzione del mercato. Banche, istituzioni e stakeholder a confronto “) by Daniela Carosio, SVI Senior Partner, was published in the AIAF online review Nr. …

The article “Governance profiles in markets and in financial intermediaries” (original title: “Profili di governance nei mercati e negli intermediari”) by Daniela Carosio, SVI Senior Partner, was published in the AIAF online review Nr. 72 as of September 2009. KEY INSIGHTS In this article, …

The book “Stock exchanges and governance. Markets, regulations and rules for listing on Piazza Affari and the London Stock Exchange” (in Italian: Borse e governance. Mercati, normativa e regole per quotarsi a Piazza Affari e al London Stock Exchange) by …

The article “Corporate Governance weight in business evaluation” by Daniela Carosio, SVI Senior Partner, was published in the AIAF online review Nr. 56 as of October 2005. KEY INSIGHTS Last July 6, 2005, AIAF has organized its first associated meeting about corporate governance …

The article “About the state-of-art of the Decree-Law for the Protection of Savings” by Daniela Carosio, SVI Senior Partner, was published in the AIAF online review Nr. 54 as of March 2005. KEY INSIGHTS The Decree-Law “Provisions for the protection of savings and …

The article “Financial Analysts and the Corporate Social Responsibility” by Daniela Carosio, SVI Senior Partner, was published in the AIAF online review Nr. 51 as of June 2004. KEY INSIGHTS This article is the first of a series of contributes of AIAF Working …

The article “IAS I: what changes in the presentation of financial information” by Dario Colombo, representative of AIAF GdL and Daniela Carosio, SVI Senior Partner, was published in the AIAF online review Nr. 50 as of March 2004. Professor Daniela Carosio and Doctor …

The article “An inquiry on online financial communication of companies listed at the Italian Stock Exchange in Milan” by Alfonso Scarano, member of the Board of Directors and Representative of the AIAF Internet Committee, Nadia Tamburrini from Finengineering and Daniela Carosio, …

The article “The analysis of the candidate websites to the Oscar of Online financial Communication” by Alfonso Scarano, member of the Board of Directors and Representative of the AIAF Internet Committee, and Daniela Carosio, SVI Senior Partner, was published in the …