Daily ESG Briefing: Morrow Sodali and Nestor Advisors announce merger

The latest developments in sustainable finance

Governance specialist Nestor Advisors has announced a merger with US proxy advisor and shareholder services firm Morrow Sodali. Stilpon Nestor, who founded the firm in 2003, will become Executive Chairman of Nestor Advisors, and oversee Morrow Sodali’s work in EMEA and Latin America. Both companies will continue to operate under their respective names with Nestor Advisors branding itself as a Morrow Sodali company.

The UK-Norway Sustainable Finance Platform has launched this week and will feed into the COP26 finance campaign led by Mark Carney. It will involve collaboration between financial institutions from the UK and Norway and workshops on regulation and investment decisions. Findings and commitments from the Platform will be announced at COP26 in November. 

Investment manager Nuveen has released its latest responsible investment engagement report, which shows it voted in 12,041 meetings over the past year – voting against management in a third of cases – and carried out over 1,200 targeted engagements around women on boards, climate risk and diversity and inclusion. 

The UK has joined the International Platform on Sustainable Finance, a project by the European Commission to coordinate efforts on sustainable finance initiatives between public authorities around the globe. Members include China and the EU, and account for 55% of global greenhouse gas emissions and 55% of global GDP.

S&P Global Ratings has today published its ‘ESG Overview: Global Sovereigns’ report, which discusses credit factors that inform its rating of 135 countries across the world. The report found that governance was a strength in around half of the countries rated, and a weakness in 7%. It also highlighted the wide variation in social and environmental credentials in the Asia-Pacific region and better governance versus social or environmental credentials in the Americas.