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Despite markets still lifting their overall assets under management, ESG funds are suffering severe outflows for the first time in their history. Underperformance of a lot of mainstream ESG indices has been blamed for the outflows, and an ‘overhaul’ of the strategy has been called for. The Financial Times covers the story.

After last month’s announcement from the Science Based Targets initiative (SBTi) that indicated it would allow companies to offset Scope 3 emissions, the climate group remains at the centre of a fierce debate over carbon offsets that is set to have major implications for corporate climate action. Bloomberg covers the story.

‘Climate risk is financial risk’: a ubiquitous incantation that is frequently invoked in discussions about shareholder proposals, transition plans, and banks’ financing of fossil fuel projects. While climate risk can certainly pose financial risk, climate risk is not always financial risk and conflating the two is not useful when looking to manage climate impact. Forbes covers the debate.