Global Trustee and Fiduciary Services News and Views Issue 50

Global Trustee and Fiduciary Services News & Views | Issue 50 | 2018 21 The deadline for completion of the CMU Sustainability Action Plan ranges from 2018-2019, so is very aggressive in terms of completion. But as the foreword to the HLEG Final Report “Financing a Sustainable European Economy” states, “sustainability is the theme of our time — and the financial system has a key role to play in delivering that set of ambitions”. To understand how the CMU Sustainability Action Plan has been translated into legislative proposals please see our next article. Amanda Hale Head of Regulatory Services Global Trustee and Fiduciary Services Citi 1 https://sustainabledevelopment.un.org/post2015/ transformingourworld/publication. Link here . 2 “Swiss impact investor granted UCITS licence” from http:// igniteseurope.com. Link here . 3 http://www.funds-europe.com/news/europe-and-us-split-on- responsible-investing-survey-finds. Link here . 4 Held by institutional investors, money managers, and community investment institutions. 5 https://www.ussif.org/trends. Link here . 6 The People’s Bank of China Issued The “Guidelines for Establishing the Green Financial System” at http://www. un-page.org. Link here . 7 http://www.amac.org.cn/xhdt/zxdt/393245.shtml. Link here . 8 https://www.am.pictet/en/uk/global-articles/2018/market- views/secular-outlook. Link here . 9 2016 Global Sustainable Investment Review, compound annual growth for 2014-2016 10 “UBS rolls out ESG data for all” at www.igniteseurope.com. 11 “In the current environment, stakeholders are demanding that companies exercise leadership on a broader range of issues. And they are right to: a company’s ability to manage ESG matters demonstrates the leadership and good governance that is so essential to sustainable growth, which is why we are increasingly integrating these issues into our investment process”, from Larry Fink’s annual letter to CEOs, A sense of Purpose, at https://www.blackrock.com/ corporate/investor-relations/larry-fink-ceo-letter. Link here . 12 http://www.dw.com/en/investors-with-26-trillion-in-assets-urge- g7-leaders-to-act-on-climate-change/a-44062907. Link here . 13 http://www.unepfi.org/news/industries/investment/investor_ agenda_g7_statement_2018/. Link here . 14 A voluntary opportunity for investors to publicly declare how they intend to vote on shareholder resolutions around environmental, social and corporate governance issues filed or co-filed by RPI signatories, at https://www.unpri.org/pri/ what-are-the-principles-for-responsible-investment. Link here . 15 https://www.morganstanley.com/pub/content/dam/ msdotcom/ideas/sustainable-signals/pdf/Sustainable_ Signals_Whitepaper.pdf. Link here . 16 “Lit” previously meant “drunk”, but more recently means “awesome, excellent, turned up”. 17 http://ec.europa.eu/commfrontoffice/publicopinion/flash/ fl_239_en.pdf. Link here . 18 https://www.un.org/sustainabledevelopment/sustainable- development-goals/. Link here . 19 http://www.un.org/millenniumgoals/bkgd.shtml. 20 https://sustainabledevelopment.un.org/owg.html. 21 Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competiveness. 22 Source: Global Sustainable Investment Alliance. 23 https://www.citivelocity.com/citigps/ReportSeries. action?recordId=77. Link here . 24 Michael R. Bloomberg, Chair. 25 HLEG has members from asset management, insurance, banking, stock exchanges, financial industry associations, and other international institutions. 26 http://www.fsb.org/2018/09/task-force-report-shows- momentum-building-for-climate-related-financial- disclosures/. Link here . 27 https://ec.europa.eu/info/publications/180131-sustainable- finance-report_en. Link here . 28 https://ec.europa.eu/info/publications/180131-sustainable- finance-report_en. Link here .