News briefs: Morgan Stanley to report climate investment impact
Plus, flooding rages unabated in China, Deutsche Bank offers ESG research tool
|Jul 21, 2020|
Above, dramatic video of the impact of weeks of intense seasonal flooding in China.
Morgan Stanley will disclose climate impact
Morgan Stanley (MS) will become the first major U.S. bank to publicly disclose how much its loans and investments contribute to climate change, the latest sign that Wall Street giants are beginning to reckon with their role in heating the planet, Zack Colman reports on Politico.com. Colman notes the move comes as financial regulators in many countries are considering whether to require greater disclosure from companies about the risks they face from climate change — and as a growing number of shareholders and investors worry about their exposure to fossil fuels that could suffer from future government policies to rein in greenhouse gas emissions.
Global warming, development add to severe floods in China
In China, the worst flooding in decades has affected more than 37 million people and left 141 dead or missing. Climate change and developments that have reduced the size of freshwater lakes have contributed to the severity of the flooding, the South China Morning Post reports. The scale of the disaster is vast, SCMP says, with the water level of 433 rivers going above the flood control line since June, and 33 of them at record high levels, according to the Ministry of Water Resources.
Deutsche Bank Research offering for ESG investors
Deutsche Bank Research is launching dbSustainability, a new offering for clients with research reports designed to help clients identify sustainable investment opportunities and pinpoint the financial implications of broad ESG (Environmental, Social and Governance) themes on the economy, industries and individual companies. This new effort coincides with the increasing efforts by our clients to integrate sustainability frameworks into their investment strategies along with the many policy and regulatory changes driving ESG adoption.
Diageo’s Johnnie Walker whisky to be sold in paper bottles
Diageo (DEO), makers of Johnnie Walker, Smirnoff and Guinness, says it has created the world’s first ever 100% plastic-free paper-based spirits bottle, made entirely from sustainably sourced wood. The bottle will debut with Johnnie Walker, the world’s number one Scotch Whisky, in early 2021. Diageo also said a consortium of global fast-moving consumer goods companies has been created to develop the technology further, including PepsiCo (PEP) and Unilever (UN).