News & Analysis as of

Environmental Social & Governance (ESG) Climate Change Investment Funds

Baker Botts L.L.P.

Blackstone’s $5.6B Bet on Clean Energy

Baker Botts L.L.P. on

Blackstone Inc. has announced that it has raised $5.6 billion for a fund dedicated to investing in the transition to cleaner energy. This is about a third larger than its previous fund, reflecting increasing investor interest...more

Morrison & Foerster LLP

2025 ESG + Sustainability Predictions

In 2024, challenges to environmental, social, and governance (ESG) and sustainability initiatives in the United States proliferated internationally. This proved true, even as Europe promoted additional ESG and climate/social...more

A&O Shearman

European Securities and Markets Authority publishes Q&As on application of guidelines on funds' names using environmental, social,...

A&O Shearman on

The European Securities and Markets Authority has published three sets of Q&As to provide further detail on the guidelines on funds which use ESG or sustainability-related terms in their names. The guidelines relate to...more

McDermott Will & Schulte

ESMA-Leitlinien zu (ESG-)Fondsnamen – Neue BaFin-Verwaltungspraxis: Hintergrund, Inhalt, praktische Auswirkungen

Mit Meldung vom 25. Juli 2024 hat die BaFin mitgeteilt, dass sie die Leitlinien für Fondsnamen der Europäischen Wertpapier- und Marktaufsichtsbehörde (ESMA) in Ihrer Verwaltungspraxis berücksichtigen wird. Diese werden die...more

Goodwin

ESG and EU Fund Names: ESMA’s Final Guidelines

Goodwin on

On 14 May 2024, the European Securities and Markets Authority (ESMA) published its final guidelines ESMA34-472-440 Final Report on the Guidelines on funds names (europa.eu) on the use of ESG- or sustainability-related terms...more

Latham & Watkins LLP

ESMA Finalises Guidelines on Fund Names

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Guidelines indicate when asset managers may legitimately use ESG or sustainability-related terms in their fund names. On 14 May 2024, ESMA published its final Guidelines on funds’ names using ESG- or...more

Mayer Brown

ESMA publishes guidelines on establishing harmonised criteria for use of ESG and sustainability-related terms in fund names

Mayer Brown on

On 14 May 2024, the European Securities and Markets Authority ("ESMA") published its final report on "Guidelines on funds’ names using ESG or sustainability-related terms" (the "Guidelines"). The Guidelines aim to provide...more

K&L Gates LLP

Carbon Quarterly – Volume 8

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Carbon Quarterly is a newsletter covering developments in carbon policy, law, and innovation. No matter your views on climate change policy, there is no avoiding an increasing focus on carbon regulation, resiliency planning,...more

A&O Shearman

10 lessons in sustainability regulation

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Creating an effective regulatory framework will be critical to deliver Net Zero. But does that mean more – or less – regulation? From trade agreements to taxonomies, carbon adjustment mechanisms to corporate sustainability...more

Cadwalader, Wickersham & Taft LLP

Cadwalader Climate - February 2024

ESG Ratings - The European Council and Parliament provisionally agreed upon a proposed regulation on ESG rating activities to boost transparency and increase investor confidence in ESG ratings. ESG ratings providers would...more

BCLP

All Washed Up - What Are the Risks for Firms That Won’t Show Greenwashing the Red Card?

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In recent years, there has been a noticeable increase in green products and the promotion of sustainable objectives across the financial services industry. For example, we have seen much discussion of green loans, green...more

Mintz

Investors Pull Money From ESG Funds

Mintz on

It has been reported--based upon an analysis by Morningstar--that “[i]nvestors pulled $5 billion from U.S. sustainable funds in the fourth quarter [of 2023] for a total of $13 billion last year [2023].” According to the same...more

Cadwalader, Wickersham & Taft LLP

EU Market Regulator Finds 400% Increase in Use of ESG Language in Fund Names

On October 2, 2023, the EU markets regulator, the European Securities and Markets Authority (ESMA), published a study indicating that the proportion of investment funds in Europe using ESG-related terms in their fund names...more

Mintz - Energy & Sustainability Viewpoints

Energy & Sustainability Litigation Updates — November 2023

Federal Regulatory Developments - On September 20, 2023, the SEC approved amendments to the “Names Rule,” which had initially been proposed in May 2022. This rule requires investment funds to “adopt a policy to invest at...more

Mintz

SEC Possibly Conducting Industry Sweep of ESG Investment Funds

Mintz on

It has been publicly reported that the SEC's Enforcement Division has been "sen[ding] document requests, including subpoenas" to asset managers in connection with ESG marketing.  This development is entirely unsurprising, as...more

Cadwalader, Wickersham & Taft LLP

MSCI Announces Changes to Its ESG Rating Methodology, Resulting in Downgrades for Most Funds

MSCI has announced significant changes to its ESG investment fund ratings methodology that “aim to raise the requirements for a fund to be assessed as ‘AA’ or ‘AAA’ rated, improve stability in Fund ESG Ratings and add...more

Cadwalader, Wickersham & Taft LLP

Republican AGs Target 53 Large Asset Managers' ESG Practices

On March 30, 2023, 21 Republican Attorneys General (AGs) wrote a letter addressed to over 50 U.S. asset managers citing “concerns about the ongoing agreements between asset managers to use Americans’ savings to push political...more

Proskauer Rose LLP

Question of the Week: What is the most significant regulatory change you expect to see this year and why?

Proskauer Rose LLP on

In the registered fund world, we spent much of the past year focused on complying with – and implementing – new, operationally complex rules covering derivatives, valuation and fund-of-fund investments, among others. This...more

Cadwalader, Wickersham & Taft LLP

SEC Exams to Include ESG Focus in 2023

On February 7, the Division of Examinations of the U.S. Securities and Exchange Commission (SEC) announced the publication of its 2023 examination priorities, which include a focus on ESG-related advisory services and fund...more

Cadwalader, Wickersham & Taft LLP

Goldman Sachs Announces $1.6 Billion Raised for Private Markets Climate Fund

On January 10, 2023, Goldman Sachs Asset Management announced that it had closed over $1.6 billion in funding for Horizon Environment & Climate Solutions I (Horizon Climate), the first in an expected series of funds through...more

Goodwin

Horizon Scan for Private Investment Funds: Key Recent and Expected Funds, Regulatory and Tax Developments to Look Out For

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Welcome to our January 2023 Horizon Scan, where we focus on some of the principal recent and expected developments and changes that we expect to be of interest to those in the non-listed funds sector. We have grouped the...more

Latham & Watkins LLP

6 Sustainability Takeaways in EU Antitrust & Regulatory - December 2022

Latham & Watkins LLP on

Latham lawyers highlight key takeaways and developments in the sustainability space from the second half of the year. ...more

Dorsey & Whitney LLP

ESG Funds/Carbon Credit Project Developers: LSE Launches The New Voluntary Carbon Market Designation

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On 10 October 2022, the London Stock Exchange (LSE) introduced the Voluntary Carbon Market (VCM) with the aim of promoting transparency and standardising carbon disclosures (a counter to “greenwashing”) and increasing the...more

Goodwin

FCA ESG Rules: The Next Deadline for U.K. Private Fund Managers

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In our previous client alert, Back to Work: The FCA's 2022-23 Priorities for Private Fund Managers, we mentioned the need for FCA-authorised private fund managers with assets under management (AuM) of over £5 billion and who...more

Holland & Knight LLP

SEC ESG-Rulemaking Wave Continues with Proposed Rule for Advisers and Funds

Holland & Knight LLP on

In the SEC's latest environmental, social and governance (ESG) rulemaking salvo, the agency proposed two new ESG-focused rules aimed at the advisory and investment company space: 1) proposed amendments to the "Names Rule"...more

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