Standish Mellon Asset Management (“Standish”), a BNY Mellon Investment boutique with around $158 billion (£121 bn) of assets under management, has joined the Climate Bond Initiative Partnership Program (Sustainable Investing).
The Climate Bonds initiative is an investor-focused “not-for-profit” organisation that promotes large-scale investment. Banks, NGOs, institutional investors and governments are eligible to join as Climate Bond Partners to assist in growing the green and climate bonds market.
Specifically, Climate Bonds Partners develop initiatives to grow investments in climate solutions, participate in different market development committees and help define policy agendas for sector, country and sub-national programs. Their underlying mission to mobilize the debt markets for climate change solutions and to ensure consistent standards are applied to debt issues labelled as green or climate bonds.
Standish describes its move in joining the Program as supporting efforts to use bond markets to “positively impact” climate change and ensure that the industry uses “consistent standards” for the issuance of green or climate bonds.
With a backdrop of increasing demand for innovation and sustainable investment solutions to address climate, carbon and environmental issues, Standish, a global leader in fixed-income investment that serves a diverse range of investors, touts what it describes as strategies for investors who wish to make “climate change mitigation” an explicit investment objective.
Mike Faloon, Chief Operating Officer at Standish, commenting in the wake of the Boston, MA-based firm’s decision said: “We believe that green and climate degradation within their fixed-income allocations. “CFA-designated Faloon is responsible for risk management and technology implementation and oversight at the firm.
Standish’s commitment to sustainable investing dates back to 2007 when the firm incorporated Socially Responsible Investing (SRI) screens into their investment process.
Stephan Bonte, CFA, Director of Sustainable Investing at Standish, referring to the firm’s initiatives and ESG initiatives, explained: “In 2012 we further strengthen our commitment by becoming a signatory to UN Principles of Responsible Investing (RPI), And, today we have a fully integrated, proprietary Corporate Environmental Social and Governance (ESG) Risk Metrics and Analytics process in their sustainability/ESG integration efforts.
Remarking On Standish’s decision to join the partnership program, Sean Kidley, CEO of Climate Bonds, said: “(It) adds singiifcat depth and capability as we intensify our efforts to build robust and sustainable green bond markets.”
In relation to BNY Mellon’s own efforts to integrate climate change risks and opportunities into their its operations, products and services as well as supply chain, it has made a number of strides of late. Evidencing this BNY Mellon was recognized last year by CDP’s Climate “A” List and the S&P Climate Disclosure Leadership Index (CDLI). Addiitonally, it is a signatory as part of the White House’s American Business Act on Climate Pledge and the UN’s Paris Pledge.
(Ethical Performance Magazine, 2056)
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