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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Data quality' issues exist for emerging-market credit, says fixed-income fund managerPaul Benson of Insight Investment, BNY Investments says high-yield debt is an attractive proposition, calling it a "beautifully inefficient market", but is cautious about emerging-market high-yield credit as a fixed-income investment.
Persons: Paul Benson Organizations: Insight Investment, BNY Investments
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFallen angels are rising stars, investment specialist highlights opportunity in junk bondsPaul Benson from BNY Mellon Investment Management explains why he thinks investors should be diversifying their portfolios and considering fallen angel bonds.
Persons: Paul Benson Organizations: BNY Mellon Investment Management
Shell's directors are being personally sued for allegedly failing to adequately manage the risks associated with the climate emergency in a first-of-its-kind lawsuit that could have widespread implications for how other companies plan to cut emissions. Environmental law firm ClientEarth, in its capacity as a shareholder, filed the lawsuit against the British oil major's board at the high court of England and Wales on Thursday. It alleges 11 members of Shell's board are mismanaging climate risk, breaching company law by failing to implement an energy transition strategy that aligns with the landmark 2015 Paris Agreement. "The shift to a low-carbon economy is not just inevitable, it's already happening. Yet the Board is persisting with a transition strategy that is fundamentally flawed, leaving the company seriously exposed to the risks that climate change poses to Shell's future success — despite the Board's legal duty to manage those risks," Benson said.
SummarySummary Companies ClientEarth files novel UK case to hold directors accountableUK, Swedish, Danish, Belgian and French funds support lawsuitClaim alleges Shell board mismanaging climate risk, breaches lawLONDON, Feb 9 (Reuters) - A group of European institutional investors is backing a novel London lawsuit against energy giant Shell's (SHEL.L) board over alleged climate mismanagement in a case that could have far-reaching implications for how companies tackle emissions. Shell rejected the allegations, saying its climate targets were ambitious and on track and that its directors complied with their legal duties and acted in the company's best interests. "ClientEarth's attempt ... to overturn the board's policy as approved by our shareholders has no merit," a spokesperson said. London CIV said its Shell stake was a "primary hotspot of risk and exposure within our portfolio". The case comes two years after Shell was ordered to slash carbon emissions in a landmark Dutch climate case.
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