Edition for 27 January 2020

Top Stories

The world's most-profitable hedge fund (TCI Fund Management) is now a climate radical (The Sydney Morning Herald)

  • Chris Hohn is pushing portfolio companies to dramatically reduce greenhouse gas emissions and disclose their carbon footprint.
  • The money manager, with $US30 billion ($44 billion) in assets, is pushing portfolio companies to dramatically reduce greenhouse gas emissions and disclose their carbon footprint.
  • Just in case anyone doubts his commitment, last fall Hohn and his charity donated £200,000 ($US260,000) to Extinction Rebellion, the radical climate change movement whose members have blocked traffic in London and glued themselves to jetliners.

Hundreds of Amazon employees plan to protest PR policy by speaking out about climate change (Geekwire)

  • More than 340 workers criticized Amazon’s contribution to climate change Sunday in a Medium post, violating corporate PR rules that prevent employees from discussing company business without approval.
  • The advocacy group Amazon Employees for Climate Justice published the statements to show solidarity with two employees who say they were threatened with termination.
  • The activists co-filed a shareholder resolution at the end of 2018 calling on Amazon to create a climate plan.

UPM commits to UN Business Ambition for 1.5°C to mitigate climate change (GlobeNewswire)

  • UPM will strive to mitigate climate change and drive value creation through innovating novel products, committing to a 65% CO2  emission reduction and by practicing sustainable forestry.
  • “UPM has a unique opportunity to make a positive impact and contribute to mitigating climate change by tangible actions.
  • We innovate climate-positive products and turn them into growing businesses.

The Alphabet Soup of Responsible Investing Needs a Good Stir (Washington Post)

  • The shift in emphasizing environmental, social and governance issues puts pressure on the index providers to come up with benchmarks that more accurately reflect the concerns investors are attempting to express by allocating capital to ESG investment products.
  • Currently, though, even dedicated ESG indexes have shortcomings that many investors are probably unaware of.
  • The U.S. Vegan Climate exchange-traded fund, for example, tracks a $124 billion index created by Beyond Investing that excludes companies engaged in a laundry list of potentially harmful activities, including animal exploitation, human rights abuses and fossil fuels extraction.

Government urged to set 'more aggressive and ambitious' climate goals  (The Sydney Morning Herald)

  • The Morrison government has been urged to up its climate goals to protect the country's international reputation and for global humanitarian reasons.
  • Kylie Porter, the executive director of United Nations affiliate Global Compact Network Australia, said the federal government must set "more aggressive and ambitious" climate targets before the 2020 United Nations Climate Change Conference (COP26) in Glasgow in November.
  • Save the Children chief executive Paul Ronalds, who returned from Bangladesh this week, said "thousands and thousands" of climate refugees were pouring into the capital, Dhaka.
  • "If we don't come up with some pretty strong policy before the next international climate change conference ... it's highly likely that Australia's reputation will get worse," Ms Porter said.

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