Daily ESG Briefing: RBA releases toolkit to help with due diligence in supply chains

The latest developments in sustainable finance

The Responsible Business Alliance (RBA) has released a Responsible Recruitment Due Diligence Toolkit to help its members and their partners prevent forced labor in their supply chains. The nonprofit coalition's toolkit, whose framework is adopted from the OECD’s Due Diligence Guidance for Responsible Business Conduct, is focused on building the capacity of workplaces to actively engage and monitor their labor recruitment partners. It was created with support from Apple and the UN’s International Organization for Migration. 

Global investor body the CFA Institute reiterated its belief that ESG integration should not be mandated by any regulatory authority, but “rather that policy and regulation should leave things open for asset managers to determine for themselves and their client the method of ESG integration that works for them". However, in its latest statement on the topic, it expressed support for disclosure rules for investment managers regarding if, and how, they integrate ESG.

Sustainability consultancy Longevity Partners has spun off a clean energy arm called Longevity Power, which claims to provide a “one stop shop for net-zero carbon for asset owners" and certify property funds and corporations against the Paris Accord and EU Taxonomy. 

The capacity of European wind and solar markets is expected to grow by 8% and 13%, respectively, in 2021,  hitting around 35GW of combined power by the end of the year. The growth will attract €60bn of investment, ING Bank's Energy Outlook for 2021, which identified onshore wind and small scale solar as the biggest growers.  

Sustainability consultancy firm ERM has acquired UK-based renewables advisory company Arcus Consultancy Services for an undisclosed amount. 

Green infrastructure specialist Foresight Group, which manages $6.8bn, has confirmed its plans to list on the London Stock Exchange next month. 80% of the shares for the float will be generated by existing investors selling their shares, while the remaining 20% will come from the issuance of new shares.