A ‘love-hate’ relationship with ESG screens
In his letter to shareholders this year, BlackRock chief executive Larry Fink said he believed the world was on the edge of a “fundamental reshaping of finance”. The reshaping he was referring to was as a result of climate change.
In 2019, millions of people – led by Norwegian teenager Greta Thunberg – took to the streets to demand action on climate change. One of the biggest complaints from these protestors was that the financial sector was not taking responsibility for its role in the crisis
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Over 15% of reserve managers plan diversification changes
Close to 14% of participants will increase diversification, while 17.2% are discussing changes
Fewer central banks added new reserve assets in 2023
Overall, 10.3% of institutions diversified their asset allocation, down from 18.6% last year
Wallstreet and others rank highest for reserves technology services
Ion’s Wallstreet treasury system tops the 2023 rankings
Reserve managers rank JP Morgan top for custody and banking
BlackRock preferred for knowledge transfer and capacity building
Reserve managers vote BlackRock as overall best asset manager
Goldman Sachs and “other” asset management firms also score highly