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News round-up: US exits Paris Agreement, Willis Towers Watson, PACTA and Generali

BlackRock backs creation of IFRS sustainability standards board

A proposal that would see the International Financial Reporting Standards (IFRS) Foundation establish a sustainability standards board and become a global sustainability standards-setter has received the backing of the world's largest asset manager.

TCFD eyes new forward-looking metrics

The Task Force on Climate-related Financial Disclosures (TCFD) is studying the feasibility of recommending 'forward-looking' climate metrics, in what could result in a significant overhaul of sustainability reporting.

Is quantitative finance a good match for ESG?

Quantitative approaches provide speed, scalability, and cost savings, which can help process the deluge of ESG data, says Habib Moudachirou

Only a matter of time' before TCFD becomes mandatory in UK, says BofE

Bank of England (BofE) markets executive director Andrew Hauser said you can "reasonably expect" adoption of recommendations outlined by the Task Force on Climate-related Financial Disclosures (TCFD) to become mandatory in the UK.

FactSet to acquire TruValue Labs

Financial data provider FactSet is to acquire alternative ESG data firm TruValue Labs, as the wave of consolidation in the sector continues.

Co-chairs confirmed for TNFD working group

Three co-chairs have been nominated to lead the Informal Working Group (IWG) that is tasked with launching a work plan for the Task Force on Nature-related Financial Disclosures (TNFD):

GPIF predicts equity boost and bond pain from more stringent climate policies

The largest pension fund in the world has estimated its equity portfolio could experience an accelerating valuation boost if more stringent climate policy restrictions are introduced to reach global targets, whereas its corporate bond portfolio could suffer deeper losses as policy tightens.

Large numbers of Europe-listed companies 'less than 1% aligned' with EU taxonomy

About 77% of a sample of 75 Europe-listed companies have an 'alignment level' with the EU's taxonomy of sustainable activities that is equal to or lower than 1%, according to a study by ISS ESG and German thinktank adelphi.

Moody's plugs more ESG data into flagship ratings and research platform

Moody's has expanded its flagship CreditView platform to incorporate environmental, social and governance (ESG) data from Vigeo Eiris and Four Twenty Seven, in a broader push recognising the growing importance on ESG of assessing issuer risk.