Page 2 - Esg Funds

New rules to attract investment to India's $1.4 bn market: JPMorgan

India rolled out several measures over past two years to regulate its market for green and other assets, most recently allowing domestic fund managers to launch plans under six types of ESG strategies

ESG funds continue to see outflow, Rs 520 cr pulled out in June quarter

Sustainable or ESG (environmental, social, and governance) funds in the country witnessed an outflow of Rs 520 crore in the April-June quarter of this fiscal, according to a report by Morningstar. This was higher than a withdrawal of Rs 470 crore seen from such funds in the preceding quarter. "While initial fund launches have attracted significant interest and flows, we have yet to witness continued flows for sustainable funds after their initial fund launch period. This has resulted in the lack of a discernible trend on a quarterly basis," the report noted. Continuing the trend of outflow, the year-to-date 2023 withdrawal was at Rs 1,060 crore as compared to Rs 1,020 crore in the preceding year. This is in contrast to the infusion of Rs 1.83 lakh crore for the year to date in the overall fund market. The report revealed that the coronavirus pandemic led to a marked increase in investor interest and fund launches for sustainable funds globally. "While the Indian sustainable fund .

No takers for ESG investing? Sustainable funds see outlows for second year

There have been no new sustainable fund launches over the past two years.

Amazon loses key backer 4 years into plan to eliminate carbon emissions

The Science Based Targets initiative, a United Nations-backed entity that validates net zero plans, has removed Amazon from its list of companies taking action on climate goals

Morgan Stanley reaches 70% of $1 trn of low carbon ESG funding goal

The Wall Street firm said in an ESG report this week that it has allocated $700 billion of financing, with more than $550 billion of that directed to green activities

Legal issues in green finance need to be cleared up

The central bank has identified renewable energy, waste management, clean transport, energy efficiency, and afforestation as projects to be funded from green deposits

Investors still warming up to ESG-focussed funds; asset base drops in FY23

Sustainable or ESG (environmental, social, and governance) focused mutual funds, which are in a nascent stage in India, have seen their asset base declining by Rs 2,020 crore in fiscal 2022-23 even as experts hope such funds will attract greater attention in coming years. ESG investing is gaining traction globally, and India is also witnessing an increased awareness and interest in sustainable and responsible investment practices. At present, there are 12 mutual fund schemes in India having ESG as their theme. "With growing concerns about environmental and social issues, coupled with regulatory initiatives to promote ESG investing, the demand for ESG funds is expected to rise in the future. As more investors recognize the potential for both financial returns and positive impact, ESG funds are likely to attract greater attention and witness further growth," Gopal Kavalireddi, Research Head of FYERS, said. Kaustubh Belapurkar, Director - Manager Research, Morningstar India, also ...

Goldman Sachs slashes Adani's stakes from ESG funds following allegations

Goldman funds registered as promoting environmental, social and governance goals under European Union rules sold about 11.7 million shares in Adani companies in February

Money-market managers rebrand almost $1 trn of funds in form of ESG

Money market funds registered as Article 8 currently have $986 billion of client assets, up about 43% since August, according to data compiled by Bloomberg

What is ESG, how is it supporting companies' efforts toward sustainability

From the role and need to challenges faced by Indian companies in its implementation and criticism around it, here is a lowdown on what is ESG

Due to funding winter ESG-led funding reaches $7.9 bn in 2022: Report

Of the overall private equity and venture capital investments of USD 61.6 billion in India, as much as 13 per cent or USD 7.9 billion came through the ESG route in 2022, as per an industry analysis. As the funding winter deepened from the first quarter of 2022 after the Russian invasion of Ukraine and the resultant risk aversion, the overall funding from PE/VCs into the country declined 12 per cent from the 2021 peak, when it had scaled USD 69.8 billion, according to a report by industry body Indian Venture and Alternate Capital Association (IVCA), prepared by Bain & Company. But the report noted that ESG (environment, social and governance) focused investment route emerged as a breakout theme in 2022, with investments in clean energy and electric vehicle companies accelerating to reach USD 7.9 billion, which was more than double from 2021 and 13 per cent of the yearly netting, accordingly to the report. ESG has gone beyond being a mere talking point to becoming a key driver of ...

Sebi to put in place framework to prevent frauds by stock brokers

To strengthen corporate governance norms, Sebi decided to end the practice of individuals having permanent seats on boards of listed companies

83% Asian SMEs say ESG is high priority but only 37% have roadmap

Singapore, March 27 (ANI): Last week, a report published by Bloomberg Media Studios in partnership with DBS, the largest bank in Southeast Asia, revealed that while 85 per cent of medium-sized and 75 per cent of small companies state that ESG (environmental, social, and corporate governance) is a high priority, only 37 per cent have a clear roadmap on how to achieve their goals.The report published in the form of an e-book and titled "Catalyst of Sustainability", was a result of a survey conducted in August last year involving 800 SMEs (small and medium-sized enterprises) across six markets in Asia namely India, China, Taiwan, Hong Kong, Indonesia and Singapore.The study engaged over 937 decision-makers in industries covering real estate, mobility, power, agriculture and F & B/Hospitality. In-depth interviews with 11 decision-makers from SMEs were also conducted to further understand the barriers and opportunities around sustainability.SMEs have an important role to play to ...

Sebi extends timeline until March 15 for comments on ESG rating norms

Capital markets regulator Sebi on Wednesday extended the timeline until March 15 for submission of public comments on the proposed regulatory framework on ESG rating providers. Earlier, the deadline for submission of the comments was March 8, the Securities and Exchange Board of India (Sebi) said in a notice. The regulator had placed a consultation paper for Regulatory Framework for ESG Rating Providers (ERPs) in the securities market on its website on February 22 and sought comments on the same. "It has been decided to extend the timeline for submission of comments to March 15, 2023," the regulator said. Under the consultation paper, ERPs can be allowed to register with the regulator under the CRA (Credit Rating Agencies) norms. Sebi said the role of ERPs has become important in making investment decisions but their activities are not typically subject to regulatory or supervisory at present. Also, Sebi proposed a regulatory framework on ESG disclosures by listed entities, ESG .

SBI raises $1 bn under 5-year syndicated social loan for ESG funding

Priced at three-month SOFR plus 130 bps; largest such ESG loan by bank in Asia-Pacific; to also use proceeds for affordable housing, SHG lending

JPMorgan Chase & Co investment arm purges its ESG funds of Adani stocks

BlackRock, DWS among firms still in Adani via MSCI ESG indexes

Companies disclosing ESG data report nearly 15% increase in scores

According to a report by CareEdge Research, ESG reporting by Indian corporates has improved by 160 per cent

India's green bond issuances have grown slower than peers, shows data

Dedicated ESG debt funds may be a key factor to help issuances grow

Sebi to issue consultation paper for secondary market ASBA by March

Market regulator also working on new discussion paper for ESG rating providers

Professional investors seek new ESG rules for fund management industry

Professional investors think the asset managers looking after their ESG allocations need more regulations to rein them in.