Investors love crypto but worry about its carbon footprint. Here's how asset managers like Fidelity and Invesco are addressing their concerns.07 May, 16:42, Business Insider • Développer
Summary List Placement US investors are hungry for cryptocurrency, evidenced by bitcoin's rapid rise to a market capitalization of more than $1 trillion and the crypto giant Coinbase's recent initial public offering , which blew investors' expectations away. In addition, the US Securities and Exchange Commission is reviewing at least nine applications for the first domestic crypto exchange-traded fund. As asset managers build new products to satisfy the growing demand for crypto, they could have to reckon with another trend popular among some investors — sustainability. Bitcoin notoriously consumes more energy than Argentina due to its onerous mining process, and its energy use is only going up, according to a study from Cambridge's Centre for Alternative Finance . Crypto's environmental impacts have been a "stumbling block" for many investors, One River Asset Management's head of sales Sebastian Bea told Insider . The conflict has become a concern to institutional investors, who are interested in the asset class but have also pledged to be more socially conscious about where they're putting their large sums of money.
BlackRock just hired a climate scientist from the World Wildlife Fund in a top research role according to a memo naming new ESG executives (BLK)06 May, 18:08, Business Insider • Développer
Summary List Placement BlackRock is continuing to double down on sustainability as it expands its environmental, social, and corporate governance-centric (ESG) leadership. The world's largest money manager has hired a climate scientist from the World Wildlife Fund into a top sustainability research position and appointed a new COO for its sustainability-focused division, according to a memo sent to all employees Thursday seen by Insider. BlackRock Vice Chairman Philipp Hildebrand, who also chairs BlackRock's sustainability initiatives, and Paul Bodnar, the firm's recently appointed global head of sustainable investing, said in the memo that Chris Weber has been named as head of climate and sustainability research. Weber was most recently the global climate and energy lead scientist at conservation organization World Wildlife Fund, the firm said in the memo Insider viewed. He will report to Bodnar in his newly created role and will start later this month. BlackRock, which oversees some $9 trillion in assets as of March 30, has set out to introduce new investment products and metrics that are so-called "temperature-aligned," or effectively measuring the change in global temperature against a portfolio's holdings.
VC firms are scrambling to get into crypto investing after Andreessen Horowitz reportedly plans a $1 billion fund05 May, 17:19, Business Insider • Développer
Summary List Placement "The coming years will be a period of great drama and excitement revolving around this new technology," Marc Andreessen wrote in 2014 about bitcoin. His piece aged well, to say the least. Yet another crypto-boom era has dawned in the venture world, with endless headlines boasting one wild fundraise after the other. Cryptocurrency exchange Coinbase had a monstrous IPO, non-fungible token startup Dapper Labs recently raised at a $7.5 billion valuation, and Andreessen's own storied firm, Andreessen Horowitz, is raising a crypto-focused $1 billion fund, t he Financial Times reported . For Andreessen Horowitz, which got into crypto early by investing in Coinbase and Ripple and other crypto-centric VCs, this latest frenzy is both long expected and much celebrated. But others aren't quite as lucky. With cryptocurrency prices skyrocketing ( bitcoin was valued at around $55,300 on Wednesday), several VCs told Insider that firms that haven't historically invested in crypto are scrambling to catch up, get into deals and make big investments. "It's a tsunami," Brian Fakhoury , an investment analyst at Underscore VC, told Insider.
Das Berliner Startup kauft profitable Amazon-Seller auf und vergrößert sie. Die Firma holte sich nun Millionen von Blackrock und Victory Park Capital.
Companies have issued $240 billion of debt with incentives tied to environmental and social targets over the last year (BUD, BLK)↳ 14:39, Business Insider Markets • Développer
Summary List Placement Over the past year companies like Anheuser-Busch InBev and BlackRock have taken a greater interest in a new type of debt that uses self-made targets for environmental, social, and governance (ESG) progress to incentivize or punish borrowers. Accroding to the Wall Street Journal , companies have issued nearly $240 billion of debt since last summer linked to ESG goals such as cutting carbon emissions or getting more women on boards. This carrot or stick approach to lending gives companies the opportunity to reduce their interest rate burdens for meeting specific targets, while also incentivizing ESG investment. BlackRock recently arranged a $4.4 billion loan linked to racial diversity, women in leadership, and sustainable assets under management, per Bloomberg. Anheuser-Busch InBev also took a step into ESG lending when it signed a $10.1 billion "Sustainability Linked Loan Revolving Credit Facility." The brewing company's loan "incorporates a pricing mechanism that incentivizes improvement" in key ESG areas like improving water usage efficiency, increasing recycled material use, using renewable energy, and reducing overall emissions, according to a press release from the company.
Meet the Brevan Howard-backed, ex-SEC chair Jay Clayton-advised asset manager hoping to gain SEC approval for the first sustainable crypto ETF03 May, 15:07, Business Insider • Développer
Summary List Placement As interest in cryptocurrency has surged, so, too, has its associated energy use. Bitcoin, which consumes more energy than Argentina, now uses 80% more energy than it did at the start of 2020, a Cambridge study found . Asset managers are scrambling to reconcile investor appetite for crypto and sustainability, two trends that are at odds because of the environmental harm associated with mining cryptocurrency. One River Asset Management, a $2.5 billion hedge fund backed by Brevan Howard, believes it has found a way to bridge the gap. As of April 30, One River manages $600 million of client assets in funds dedicated to bitcoin and ether — including capital from the billionaire Alan Howard, the founder of Brevan Howard. The firm has created a novel index to enable it to offer carbon-neutral versions of these same crypto funds, said Sebastian Bea , One River's head of sales and strategy. The index estimates the carbon expenditure per coin of its crypto holdings, which allows the fund to buy both crypto and the requisite amount of carbon offsets to cancel out any mining emissions.
Summary List Placement Fidelity cut Ant Group's implied valuation to $144 billion from $300 billion, according to regulatory filings. The decline in valuation comes after China imposed a regulatory crackdown on the fintech giant. Fidelity initially invested in Ant Group in June 2018 at a $150 billion valuation. Sign up here for our daily newsletter, 10 Things Before the Opening Bell . China's regulatory crackdown of Ant Group in recent months has led Fidelity to cut its implied valuation of the fintech giant in half, according to regulatory filings first seen by The Wall Street Journal. Fidelity's implied valuation of Ant Group fell to $144 billion from $295 billion, according to the filing. Fidelity first invested in Ant Group in June 2018 at a valuation of $150 billion. The implied valuation represents a massive drop from last year's expected IPO valuation of more than $310 billion. Fidelity isn't the only US money manager that invested in Ant Group prior to its IPO. BlackRock and T.
Self-driving truck startup Plus is reportedly seeking to raise up to $600 million via a SPAC merger with Hennessy Capital Investment Corp V (HCICU, GOEV, BLBD, DSKE)30 Apr, 13:33, Business Insider • Développer
Summary List Placement A self-driving truck startup called Plus is seeking to raise up to $600 million in a merger with the special purpose acquisition company (SPAC) Hennessy Capital Investment Corp. V, Bloomberg reported on Friday . The deal could go through as soon as next week, and the combined entity is set to have a valuation of over $3 billion, people familiar with the matter said. BlackRock, already an investor in Hennessey, is looking to put additional funds into the self-driving truck startup through a private investment in public equity (PIPE) as well, Bloomberg reported. The Hennessy V SPAC raised $345 million in a January IPO and has been looking for a partner ever since. It trades on the NASDAQ under the ticker "HCICU." Hennessy V is chief executive Daniel J. Hennessy's fifth special purpose investment vehicle. The CEO has raised more than $1.5 billion from SPAC IPOs thus far, completing deals with an electric vehicle company called Canoo , a school bus manufacturer called Blue Bird Corp. , and a transportation and logistics company called Daseke .
As part of the Adweek Sustainability Playbook, Frank Cooper, CMO at BlackRock, discusses the importance of building financial wellness and financial inclusion. Check out more plays from best-in-class brands and top leaders here. THE CHALLENGE Research shows that people's relationships with money are among the causes of stress and anxiety. In most parts of the…
Investors should steer the course ahead through strong growth and unchartered central-bank territory, says BlackRock.
Bloc has come under fire for hiring manager of oil shares to work on environmental controls for banks
CEO di BlackRock: le crypto 'potrebbero diventare un’ottima classe di asset' ma non sostituiranno le fiat16 Apr, 18:05, Investing.com Italy • Développer
Firma BlackRock podała swoje wyniki za I kwartał 2021 r. W raporcie w oczy rzuca się jedna, spektakularna liczba: 9 bilionów dolarów. Tyle wynoszą aktywa, którymi zarządza BlackRock na całym świecie. Nawet największe firmy technologiczne: Apple, Amazon, Microsoft, Facebook i Google, nie są łącznie tyle warte.
In the current session, BlackRock Inc. (NYSE:BLK) is trading at $821.62, after a 0.46% increase. Over the past month, the stock increased by …
Las criptomonedas "podrían convertirse en una gran clase de activos", pero no son un sustituto del dinero fiat, dice el CEO de Blackrock↳ 17:35, Investing.com Spain • Développer
Within the last quarter, BlackRock (NYSE: BLK ) has observed the following analyst ratings: Last 30 Days 1 Month Ago 2 Months Ago 3 Months Ago Bullish 0 0 0 1 Somewhat Bullish 0 2 0 1 Indifferent 0 0 0 1 Somewhat Bearish 0 0 0 0 Bearish 0 0 0 0 6 analysts offering 12-month price targets in the last 3 months for BlackRock evaluate the company at an average price target of $851.17 with a high of $924.00 and a low of $715.00. This current average has increased by 5.1% from the previous average price target of $809.83. What Are Analyst Ratings? Analysts are specialists within banking and financial systems that typically … Full story available on Benzinga.com
Net income rose to $1.2 billion, or $7.77 per share, in the three months ended March 31, from $1.03 billion, or $6.60 per share, a year earlier. The reading was above the Refinitiv IBES estimate of $7.64 per share.
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