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Have a great week ahead! We are starting the week with bits of worldwide news.

Global: Martin Currie launches first social impact fund.  Investment week

Columbia Threadneedle launches Global Social Bond Fund. Launched on 28 June 2023, the CT Global Social Bond Fund complements firm's existing UK and European strategies, providing their clients with a wider choice of geographical remit for their social bond exposure.<o:p></o:p>

North America: BlackRock's Fink says he's stopped using 'weaponised' term ESG. "I don't use the word ESG any more, because it's been entirely weaponised ... by the far left and weaponised by the far right," Fink said. Reuters<o:p></o:p>

<o:p> </o:p>Glencore boss hits out at ESG-obsessed investors. 'Pragmatic' US investors focus on yield while Europeans put returns 'second or third on the list', Gary Nagle says. Investors Chronicle

Europe: Scottish Widows gets tougher on investment manager voting on ESG issues. The financial services giant, which manages some £170bn of assets, has this week pledged to "take a harder line with investment managers" that may be casting votes that undermine its sustainability commitments. Edie<o:p></o:p>

Financial models on climate risk 'implausible', say actuaries. Financial institutions often did not understand the models they were using to predict the economic cost of climate change and were underestimating the risks of temperature rises, research led by a professional body of actuaries shows. Many of the results emerging from the models were "implausible," with a serious "disconnect" between climate scientists, economists, the people building the models and the financial institutions using them, a report by the Institute and Faculty of Actuaries and the University of Exeter finds. Financial Times<o:p></o:p>

UK: Eden tree launches Green Infrastructure Fund