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European asset managers greener than Americans, study finds

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By illuminem briefings 🌎

· 2 min read


illuminem summarizes for you the essential news of the day. Read the full piece on Euronews or enjoy below:

🗞️ Driving the news: A study by ShareAction highlights a growing divide in green-finance practices between European asset managers and their US counterparts, such as BlackRock
European firms are increasingly embracing environmental considerations, spurred by new EU regulations, while major US players are seen as lagging in their commitments

🔭 The context: The EU's green-finance laws, focusing on shareholder rights and corporate disclosures, aim to influence company decisions on environmental issues
These laws are having a tangible impact, with European asset managers actively voting on climate and social issues

🌍 Why it matters for the planet: The differing approaches between EU and US financiers to green finance are critical in shaping global corporate strategies on climate change
Effective asset management can sway significant corporate decisions, impacting carbon emissions and sustainable practices

⏭️ What's next: The divergence in green-finance strategies between these major markets may continue to grow, influenced by regulatory environments and investment philosophies
This could impact the effectiveness of global efforts to address climate change and sustainability

💬 One quote: "The study offers 'a reason for optimism in responsible voting behaviour" (Emily Ahmed, ShareAction EU)

📈 One stat: In 2023, BlackRock voted in favor of only 8% of environmental and social shareholder resolutions, a decrease from 24% the previous year


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