Parametric launches two more ESG strategies
Parametric Portfolio Associates, a US investment manager, has launched two new environmental, social and governance (ESG) strategies and appointed Jennifer Sireklove to the new role of head of responsible investing.
Sireklove joined Parametric in 2013 and will retain her role of senior investment strategist.
The Seattle-based company, a subsidiary of Eaton Vance, has about $145 billion under management, of which some $10 billion is managed using responsible investing criteria.
Its new Parametric ESG Domestic and Parametric ESG International strategies are based on the S&P 500 and the MSCI EAFE indexes, respectively, but overweight companies with high ESG scores.
Parametric is also considering the possibility of developing two more portfolios, following the same domestic and international indexes, but tilting based only on environmental factors, or only on social issues.
In July, the company introduced two screening processes to enable investors to blacklist major coal and tar sands stocks.
Nordea mulls VW lawsuit
Nordea Asset Management is reportedly considering suing Volkswagen over its emissions scandal.
The Nordic region's largest asset manager, with around €190 billion ($200 billion) of assets, told the Financial Times it was evaluating whether to join "several different class actions" against the German carmaker.
Such a move would be the first asset manager to take such drastic action.
ADB backs largest wind farm in Philippines
The Asian Development Bank has agreed a $20 million loan to the 150MW Burgos wind farm, the largest wind facility in the Philippines.
The project, situated on the main island of Luzon, is already in operation and secured a $315 million 15-year financing facility from a group of foreign and local banks late last year. It is owned and operated by EDC Burgos Wind Power Corp, a special purpose company controlled by Energy Development Corp of the Philippines, one of the largest geothermal energy companies in the world.
The Manila government aims to increase the country's renewable energy capacity by 2.87GW by 2030.
NYSERDA doubles solar incentives for low- to moderate-income homeowners
The New York State Energy Research and Development Authority (NYSERDA) is doubling its incentives for residential solar energy installations for low- to moderate-income homeowners.
The programme, called Affordable Solar, is part of Governor Cuomo's renewable energy strategy and is expected to support between 2,500 and 4,500 new projects.
People:Jennifer Sireklove
