Fidelity International is expanding the investment universe of its Emerging Europe, Middle East and Africa fund to include global emerging markets as it becomes part of the asset manager’s sustainable fund range.
Just days before two legislative committees are set to hear a bill that would require the Maryland pension system to consider climate change as a financial factor when making investment decisions, environmental groups have released a study showing that the state has sacrificed millions of dollars in potential returns by investing in fossil fuel companies responsible for the climate crisis.
People want green pensions but are reluctant to switch out of ‘default’ work funds, placing the onus on providers to switch them into sustainable investments.
With central banks set to tighten monetary policy in an effort to rein in inflation, new and untested asset classes are likely to be punished harder than more reliable ones.
When the East Sussex local authority pension fund in southern England wanted to cut its exposure to fossil fuels, it needed to be sure there were no oil and gas stocks in the benchmarks its passive funds tracked.