FTSE Russell

Who decides what ESG is and how to make investments greener – new research

Retrieved on: 
Tuesday, July 4, 2023

US conservatives claim that ESG has an overly large impact on corporations and the whole economy – hence recent moves to ban the strategy for government investments.

Key Points: 
  • US conservatives claim that ESG has an overly large impact on corporations and the whole economy – hence recent moves to ban the strategy for government investments.
  • But critics in Europe argue that ESG funds are not doing enough to have a positive impact in the real world.
  • Most ESG funds take conventional mutual funds as their baseline and tweak their capital allocation according to ESG criteria.
  • Our market analysis of ESG funds showed that, out of all index-tracking ESG funds, 88% are broad ESG funds.

Who really sets ESG standards?

    • There are many but, for example, the S&P 500 represents the US stock market, while the MSCI ESG Leaders USA Index supposedly represents the leading US companies with respect to ESG criteria.
    • Further, most ESG funds are based on the ESG ratings of companies, which do not seek to measure a corporation’s sustainability impact on the environment or society.
    • Broad ESG investing based on MSCI and other rating and index providers is therefore really only a risk management tool for investors.
    • This means that broad ESG funds, which constitute the lion’s share of the market, often only make a rather feeble attempt to manage ESG.

How ESG funds could boost sustainability

    • Capital allocation is only one of the potential ways ESG investing can boost sustainability, however.
    • This should include clear criteria for broad ESG funds to dictate how capital allocation should deviate from conventional funds, plus favourable taxation or regulatory arrangements to boost the market share of light and dark green funds.
    • The volume of “true” ESG funds is still so small that they cannot possibly change contemporary capitalism, indicating the US conservatives’ “war” on ESG is just electioneering.

Who decides what ESG is and how to make investments greener - new research

Retrieved on: 
Tuesday, July 4, 2023

US conservatives claim that ESG has an overly large impact on corporations and the whole economy – hence recent moves to ban the strategy for government investments.

Key Points: 
  • US conservatives claim that ESG has an overly large impact on corporations and the whole economy – hence recent moves to ban the strategy for government investments.
  • But critics in Europe argue that ESG funds are not doing enough to have a positive impact in the real world.
  • Most ESG funds take conventional mutual funds as their baseline and tweak their capital allocation according to ESG criteria.
  • Our market analysis of ESG funds showed that, out of all index-tracking ESG funds, 88% are broad ESG funds.

Who really sets ESG standards?

    • There are many but, for example, the S&P 500 represents the US stock market, while the MSCI ESG Leaders USA Index supposedly represents the leading US companies with respect to ESG criteria.
    • Further, most ESG funds are based on the ESG ratings of companies, which do not seek to measure a corporation’s sustainability impact on the environment or society.
    • Broad ESG investing based on MSCI and other rating and index providers is therefore really only a risk management tool for investors.
    • This means that broad ESG funds, which constitute the lion’s share of the market, often only make a rather feeble attempt to manage ESG.

How ESG funds could boost sustainability

    • Capital allocation is only one of the potential ways ESG investing can boost sustainability, however.
    • This should include clear criteria for broad ESG funds to dictate how capital allocation should deviate from conventional funds, plus favourable taxation or regulatory arrangements to boost the market share of light and dark green funds.
    • The volume of “true” ESG funds is still so small that they cannot possibly change contemporary capitalism, indicating the US conservatives’ “war” on ESG is just electioneering.

Progress on share buyback programme

Retrieved on: 
Tuesday, July 4, 2023

The purpose of ING Bank is: empowering people to stay a step ahead in life and in business.

Key Points: 
  • The purpose of ING Bank is: empowering people to stay a step ahead in life and in business.
  • ING Bank’s more than 58,000 employees offer retail and wholesale banking services to customers in over 40 countries.
  • ING Group shares are listed on the exchanges of Amsterdam (INGA NA, INGA.AS), Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N).
  • Sustainability is an integral part of ING’s strategy, evidenced by ING’s leading position in sector benchmarks.

Westrock Coffee Company Announces $75.0 Million Equity Investment to Support Long-Term Growth Strategy

Retrieved on: 
Friday, June 30, 2023

LITTLE ROCK, Ark., June 30, 2023 (GLOBE NEWSWIRE) -- Westrock Coffee Company (NASDAQ: WEST) (“Westrock Coffee” or the “Company”) today announced that it has entered into definitive agreements with affiliates of HF Capital, LLC and the Herbert Hunt family to make aggregate equity investments of $75.0 million in the Company through the purchase of 7,500,000 shares of Company common stock at a price of $10.00 per share. The transactions are expected to close in August 2023, subject to the satisfaction of customary closing conditions, including, in the case of the investment by HF Capital, termination or expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

Key Points: 
  • LITTLE ROCK, Ark., June 30, 2023 (GLOBE NEWSWIRE) -- Westrock Coffee Company (NASDAQ: WEST) (“Westrock Coffee” or the “Company”) today announced that it has entered into definitive agreements with affiliates of HF Capital, LLC and the Herbert Hunt family to make aggregate equity investments of $75.0 million in the Company through the purchase of 7,500,000 shares of Company common stock at a price of $10.00 per share.
  • Wachtell, Lipton, Rosen & Katz served as legal counsel to Westrock Coffee, and Bass, Berry & Sims served as legal counsel to HF Capital.
  • The Company is updating its 2023 outlook for Adjusted EBITDA to now reflect flat to up 10% growth over 2022 from 10% to 25% previously.
  • Management will provide additional details regarding the 2023 outlook on the second quarter 2023 earnings results call.

HashiCorp joins Russell 3000® Index

Retrieved on: 
Thursday, June 29, 2023

The annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of April 28, ranking them by total market capitalization, including both the Russell 3000® and Russell Microcap® Indexes.

Key Points: 
  • The annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of April 28, ranking them by total market capitalization, including both the Russell 3000® and Russell Microcap® Indexes.
  • “This is a meaningful milestone for HashiCorp because the Russell Indexes serve as leading benchmarks for institutional investors.
  • Russell indexes are part of FTSE Russell, a leading global index provider.
  • For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website .

Ponce Financial Group, Inc. announces that it was added to the Russell 3000® Index

Retrieved on: 
Wednesday, June 28, 2023

Based upon its membership in the Russell 3000® Index, the Company will also become a member of the small-cap Russell 2000® Index.

Key Points: 
  • Based upon its membership in the Russell 3000® Index, the Company will also become a member of the small-cap Russell 2000® Index.
  • Carlos P. Naudon, President and CEO of Ponce Financial Group, Inc., commented, “It is an honor to rejoin the Russell indexes which we trust will increase the exposure of, and liquidity in our stock.
  • Russell indexes are part of FTSE Russell, a leading global index provider.
  • For more information on the Russell 3000® and the Russell indexes reconstitution, go to the FTSE Russell website.

LiveOne Joins Russell Microcap® Index

Retrieved on: 
Wednesday, June 28, 2023

Membership in the Russell Microcap® Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes.

Key Points: 
  • Membership in the Russell Microcap® Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes.
  • FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
  • Russell indexes are part of FTSE Russell, a leading global index provider.
  • For more information on the Russell Microcap® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website .

Security National Financial Corporation set to join Russell 3000® Index

Retrieved on: 
Tuesday, June 27, 2023

SALT LAKE CITY, June 27, 2023 (GLOBE NEWSWIRE) -- Security National Financial Corporation (SNFCA) joined the broad-market Russell 3000® Index at the conclusion of the 2023 Russell indexes annual reconstitutions, effective after the US market opened on June 26, 2023.

Key Points: 
  • SALT LAKE CITY, June 27, 2023 (GLOBE NEWSWIRE) -- Security National Financial Corporation (SNFCA) joined the broad-market Russell 3000® Index at the conclusion of the 2023 Russell indexes annual reconstitutions, effective after the US market opened on June 26, 2023.
  • Membership in the US all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in either the large-cap Russell 1000® Index or the small-cap Russell 2000® Index, as well as the appropriate growth and value style indexes.
  • For more information on the Russell 3000® Index and the Russell indexes reconstitutions, go to the “Russell Reconstitution” section on the FTSE Russell website .
  • About Security National Financial Corporation:
    Founded in 1965, Security National Financial Corporation operates in three business segments.

Ocean Biomedical, Inc. Joins the Russell 2000® Index

Retrieved on: 
Tuesday, June 27, 2023

Providence, RI, June 27, 2023 (GLOBE NEWSWIRE) -- Ocean Biomedical, Inc. (NASDAQ: OCEA) announced today that as part of the annual reconstitution of the Russell stock indexes, the Company has been included in the Russell 2000® Index and the broad-market Russell 3000® Index, which became effective on Monday, June 26, 2023.

Key Points: 
  • Ocean Biomedical’s Inclusion in the Russell 2000® Index and Russell 3000® Index Builds Momentum for Cutting Edge Therapeutic Programs Targeting Multiple Cancers, Fibrotic Diseases, and Malaria
    Providence, RI, June 27, 2023 (GLOBE NEWSWIRE) -- Ocean Biomedical, Inc. (NASDAQ: OCEA ) announced today that as part of the annual reconstitution of the Russell stock indexes, the Company has been included in the Russell 2000® Index and the broad-market Russell 3000® Index, which became effective on Monday, June 26, 2023.
  • “We are thrilled to announce our inclusion in the esteemed Russell 2000® Index, a renowned benchmark for small-cap stocks,” exclaimed Elizabeth Ng, CEO of Ocean Biomedical.
  • Membership in the Russell 3000® Index means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index, as well as in the appropriate growth and value style indexes.
  • For more information on the Russell 2000® Index and the Russell U.S. Indexes Reconstitution, visit the “Russell Reconstitution” section on the FTSE Russell website .

CoreCard Corporation Joins Russell 3000® Index

Retrieved on: 
Tuesday, June 27, 2023

With our inclusion in the Russell 3000® Index, we look forward to increased exposure to the investment community and other key stakeholders in our story,” said Leland Strange, CEO of CoreCard.

Key Points: 
  • With our inclusion in the Russell 3000® Index, we look forward to increased exposure to the investment community and other key stakeholders in our story,” said Leland Strange, CEO of CoreCard.
  • Membership in the US all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes.
  • FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
  • Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies.