SEC provides report on ESG practices in asset management space

29 May, 2020 07:02
source: Singularity Financial

Singularity Financial Hong Kong May 28, 2020 – by Zohar Lee

On May 27, 2020, the Securities and Exchange Commission (“SEC”) held an open virtual meeting with the Asset Management Advisory Committee to discuss the impact of the coronavirus (“COVID-19”) and, in particular, to hear updates and recommendations from its subcommittee on ESG (the “ESG Subcommittee”).

The ESG Subcommittee provided an overview of its current areas of research, which has taken the form of five separate workstreams.  Moreover, the ESG Subcommittee offered preliminary recommendations for regulatory measures which could provide consistency to ESG investment policies and disclosures in light of the growing push by asset management stakeholders to implement ESG practices, which has become a particularly important consideration in light of COVID-19.

While research and data-collection within each workstream remains ongoing, the ESG Subcommittee, led by Michelle McCarthy Beck of TIAA Financial Solutions, noted its plan to provide more definitive research and recommendations on ESG regulations in the asset management space by the end of 2020.

ESG Subcommittee Members include:
• Michelle Beck, TIAA Financial Solutions
• Jane Carten, Saturna Capital
• Rich Hall, Univ. of Texas/Texas A&M Investment Management Co.
• Jeffrey Ptak, Morningstar Research Services
• Aye Soe, S&P Dow Jones Indices

For details of “ESG Subcommittee Update”, please click here.