Did you mean esa?
Stuart McMillan: ...the committee was whether wording should be included in the bill to expressly permit trustees investing trust property in the absence of any relevant provision in the trust deed to choose so-called ESG—environmental, social and governance—investments. Those are considered to be more sustainable investment choices, chosen based on their environmental, social and governance credentials,...
Baroness Goldie: ..., is a prerequisite for the freedoms, including all the social liberties, that we take for granted. Given the aspirations that investors and financial services companies seek to address using ESG considerations, there should be a complementary relationship, not a jarring antipathetic one. The noble Lord, Lord Hannay, raised the important question of global and international engagement and...
Lord Stunell: ...behind on energy efficiency—for the reasons I have outlined: they have other business pressures on them and it is certainly not at the top of their to-do list. Also, they probably do not have an ESG policy or a policy statement committing their enterprise to getting to zero carbon by 2050. These are a band of enterprises which are core to the British economy, but they are not exactly...
Anum Qaisar: ...Ahmed, the UK director of Human Rights Watch, who said: “I have never read a piece of legislation that is as badly worded as this. It is ambiguous and runs a coach and horses completely through ESG responsibilities and business and human rights responsibilities. I think it is a very pernicious and worrying piece of legislation”.––[Official Report, Economic Activity of Public Bodies...
Baroness Goldie: ...technologies that underpin our military capability. Despite this, defence companies are being excluded from access to debt and equity capital, citing Environmental, Social and Governance (ESG) grounds. This not only threatens an important part of the economy that, through MOD expenditure alone, directly and indirectly supports over 200,000 jobs, but it fails to recognise that the UK’s...
Grant Shapps: ...technologies that underpin our military capability. Despite this, defence companies are being excluded from access to debt and equity capital, citing Environmental, Social and Governance (ESG) grounds. This not only threatens an important part of the economy that, through MOD expenditure alone, directly and indirectly supports over 200,000 jobs, but it fails to recognise that the UK’s...
...that it only needs to be “a consideration”, how am I to know that I will not be penalised? As a public body, I would not be in anyway incentivised. The Bill runs a coach and horses through ESG responsibilities, human rights responsibilities and due diligence responsibilities. I know the Government have consistently said that this is about public policy and ensuring that public bodies...
..., of course, environmental, social and governance is an issue in all investment these days. All the advisers that advise us in relation to our pension investments have some facility to advise on ESG. It might be thought that that strays into that area—tobacco, coal or whatever it is—but ESG works its way through to value and you start to realise that, actually, it is an investment...
.... I go back to what we said before: we are there to deliver on behalf of the members. That is our fundamental requirement. Clearly, we can see a desire among the membership to do something about ESG, so there is an understanding and a need to deal with that, because it deals with the wider investment and member issue. This is not the same type of political issue, and we wish to avoid, as...
Baroness Goldie: Trade associations and individual companies have raised the issue of ESG in discussions with Ministers and officials from across government. While we have so far seen no evidence that ESG criteria are leading to increased procurement costs, we are aware of instances where companies, particularly SMEs, have found obstacles to accessing financial services. Officials across Government are...
Viscount Waverley: ...can have far-reaching effects on the economy, covering up inappropriate trade practices such as dumping, counterfeit or sanctions avoidance. Results that are 1 degree out skew detailed analysis. ESG reporting is also becoming the new norm for companies to communicate their environmental, social and governance credentials to the markets. Interoperability affords legal protection and a...
Baroness Fox of Buckley: ...about the issue in relation to the FCA and banking. Nobody intended that to be the outcome of PEPs, for example, and nobody intended when they suggested encouraging banks to have values such as ESG or EDI—equality, diversity and inclusion—that that would lead to ordinary citizens of this country being threatened with having their banking turned off. It is too late to then...
Baroness Fox of Buckley: ...with the banks at the moment; they are being blamed by the Government and held to account for things such as politically exposed people and Ts and Cs that overconcentrate on values such as EDI and ESG that may be leading to citizens of this country having their bank accounts closed down. The Government say that they will tell the regulator that it has to act and say that the banks cannot...
Andrew Mitchell: ...Responsible Investing [https://assets.bii.co.uk/wp-content/uploads/2022/03/2211432 6/Policy-on-Responsible-Investing.pdf] sets out BII's business integrity and Environmental, Social and Governance (ESG) expectations. This includes drawing on the standards set out in the UN Guiding Principles on Business and Human Rights. Legally binding Business Integrity and ESG action plans are developed...
Andrew Mitchell: ...BII to report alleged breaches of the Policy on Responsible Investing by an investee, portfolio company of a fund or BII. BII regularly reports to FCDO on both environmental, social and governance (ESG) and Business Integrity issues. FCDO undertakes periodic reviews of BII's assurance processes and recommends actions to improve their robustness, and monitors implementation of these.
Lord Ahmad of Wimbledon: The UK supports globally consistent Environmental, Social and Governance (ESG) standards through the work being led by the International Sustainability Standards Board. The UK also works through our Development Finance Institution, British International Investment (BII), which plays an important role in implementing ESG standards. BII for example has a policy on Responsible Investing which...
Lisa Nandy: .... Writing in the Local Government Chronicle, the director of pensions at Westminster Council asks what happens “where an analyst has anticipated that a company’s value will decrease because of ESG decisions it has made… if that strategy falls within the new law’s definition of not being in line with UK foreign defence policy, and the law therefore states that the fund must remain...
Viscount Waverley: ...in silos instead of in partnership is a national trait; a sea-change in government’s mindset is required. I noted references to the international space and fully intend to include fraud in my ESG programme. I encourage government to do likewise.
Baroness Fox of Buckley: ...with political strings, which are usually prescriptive and distort business investment activities. My pet hates are those brought on by infernal net-zero targets, let alone the dreaded mandated ESG reporting and so on. There is plenty that the state can do to create conditions that will allow investment to flourish. It can invest heavily in public research and science R&D, as so well...
Baroness Altmann: ...expect pension funds to invest responsibly, supporting national objectives? Does he share my concern that this seems not to be happening? For example, Corporate Adviser magazine’s February 2023 ESG report shows that the three largest pension providers invest in cluster munitions, even though the UK is recent president and signatory of the international agreement to end their use, and...
