Compliance Manager

ESG round-up: Canadian government moves forward on taxonomy. The latest developments in sustainable finance: Lander drops recommendation to NYC to ditch PanAgora; SOC files immigration proposals at Amazon, Alphabet and Walmart. The Canadian Climate Institute has been appointed to lead the development of the country's long-awaited sustainable finance taxonomy. The policy research organisation will work collaboratively with Business Future Pathways, an investor-led initiative, to establish a robust and independent governance structure to oversee the development of science-based taxonomy criteria and undertake stakeholder engagement. According to Thursday's announcement, an independent taxonomy council is expected to finalise guidelines for three priority sectors by the end of 2026 to establish and complete three additional priority sectors by fall 2027. "The council will collaborate closely with government, industry, and other key stakeholders to determine the initial priority sectors, based on consideration of where taxonomy guidance has the greatest potential to deliver emissions reductions and promote low-carbon competitiveness in the Canadian economy." During his election campaign this year, Canadian prime minister Mark Carney said his government would finalise and implement the taxonomy "for every priority sector by fall 2026". Last month, in the first budget since the election, the new administration reconfirmed its support for the development of a taxonomy. Outgoing New York City comptroller Brad Lander has withdrawn a recommendation that three of the city's systems ditch quant manager PanAgora Asset Management after the firm submitted a new climate plan "reflective of a serious commitment to climate action". Lander said the firm's new plan "includes engagement with portfolio companies to encourage them to adopt credible net zero plans". Meanwhile, trustees of the New York City Employees' Retirement System on Wednesday decided not to vote on pulling a mandate from Fidelity Investments and rebidding BlackRock's mandate at a monthly investment meeting, after Lander presented his case for the moves in a session closed to the public. "I hope the trustees will vote to adopt it in the New Year, as comptroller-elect Mark Levine takes office," Lander said. SOC Investment Group has filed shareholder proposals at Alphabet, Amazon and Walmart focused on the impact of US President Donald Trump's immigration policies. In the resolutions, the firm has asked each company's board of directors to provide "a publicly available report on how US immigration policy and enforcement" impacts their operations. In a statement, SOC Investment Group said: "As the US government intensifies its crackdown on H-1B visas and other immigration pathways - triggering layoffs, talent shortages, and rising operational costs across corporate America - we have filed shareholder proposals demanding transparency about how these policies impact the companies' bottom line." Amazon declined to comment on the proposal. ISS Stoxx has acquired Italian sustainable index, data and analytics provider ECPI from Confluence Technologies. The firm has been operating for nearly 30 years and offers more than 60 indices, including sustainable equity and fixed income benchmarks. ECPI also maintains one of the world's largest corporate sustainability databases, ISS said in the announcement. The UK's Investor and Issuer Forum, a group working to "enhance the effectiveness of UK equity markets", has released a practical guide to effective engagement in the UK market, focusing on better outcomes for companies and investors. The Investor and Issuer Compass is intended to help engagement discussions between boards, investors and asset owners, identify areas of friction between market participants, and improve transparency and alignment across the investment chain. The publication comes with support from investors and companies, including the CIO of Nest and the CEOs of Brunel Pension Partnership, Ninety One and Aviva Investors, as well as the chair of GSK.

Pittsburgh, PA, July 2, 2025 - Confluence Technologies, Inc. ("Confluence"), a global leader in data-driven investment analytics and regulatory reporting solutions, today announced the launch of Style Analytics Fixed Income, extending its trusted equity analytics capabilities into the fixed income universe.