This benchmark series examines investor perceptions of ESG ratings and data. It evaluates provider quality and usefulness, exploring how investment professionals integrate sustainability information into decision-making processes. The research analyses shifting trends in the ESG ratings landscape, considering the impact of regulation and artificial intelligence on the industry.

This ESMA report provides guidance on avoiding greenwashing in sustainability impact claims. It outlines four key principles—accuracy, accessibility, substantiation, and timeliness—while defining theoretical concepts like intentionality and additionality. Practical do’s and don’ts for funds and bonds help market participants ensure communications are clear, fair, and not misleading.

This report evaluates the 2025 blended finance market, noting its resilience despite record official development assistance contractions. It highlights a shift towards middle-income markets and the rising role of financial intermediaries. The analysis introduces risk-mitigation models and examines country platforms in Brazil, Indonesia, and Lesotho to scale private investment.

This research examines how central bank climate communication affects 10-year sovereign bond yields. Using a dataset of over 17,000 speeches, it finds that climate-related discourse increases yields by making risks more salient. This effect is stronger in countries with independent central banks, reflecting the role of institutional credibility.

This research examines mutual fund ESG disclosures in shareholder letters. It finds that only 'opportunistic' disclosures focused on financial value attract significant investor flows. While aggregate data suggests greenwashing, granular analysis reveals 'impact' disclosures result in genuine portfolio improvements. However, opportunistic claims increase outflow risks if performance disappoints.

This report analyses the impact of the US anti-ESG movement on Canadian institutional investors. It examines governance challenges in integrated markets, shifts in proxy voting, and regulatory changes. Despite political spillover, the analysis highlights the resilience of Canadian legal frameworks and the ongoing commitment to climate-risk oversight.

This research examines the global expansion of index-based ownership from 2004 to 2023. Using a benchmark-free classification model, the study finds global index ownership reached 16.9% by 2023. It highlights significant regional variations, noting that US ownership is highest in mid-caps, whereas European and Asian indexing remains concentrated in large-cap firms.

This research examines the rapid expansion of international credit to Africa since the Global Financial Crisis. It highlights the rise of Chinese lending under the Belt and Road Initiative, the dramatic growth of international bond issuance, and the continued dominance of governments as borrowers in US dollar-denominated markets.

This research examines how investor patience influences venture capital strategies and startup outcomes. Using a 2014 Chinese reform and a survey experiment, it demonstrates that longer-horizon investors, such as insurers, lead funds to adopt longer holding periods and earlier-stage investments, significantly improving portfolio innovation and successful exit rates.

This benchmark series provides transparency on bank syndication fees, comparing income from sustainable and unsustainable activities. It tracks league tables for global and regional financial institutions, including the ASEAN and Japanese markets. The analysis enables investors to incentivise behavioural change by identifying banks that continue to prioritise fossil fuel financing.

This research examines "reverse capture", where government actors pressure large asset managers to advance political agendas. It analyses how expanding presidential power and market concentration enable this dynamic, using the ESG retreat as an illustration. The authors recommend narrowing fiduciary duties to insulate investment stewardship from political interference.

This report examines implicit and explicit LLM biases in investment management. Through a case study on framing bias across nine OpenAI models, it identifies significant sensitivities in drawdown and client retention scenarios. It concludes that manual prompt restructuring and human-in-the-loop protocols are the most effective mitigation strategies.

This benchmark series examines the climate-related investment policies and actions of institutional investors in Aotearoa New Zealand. It monitors progress in embedding climate risks into financial decision-making, target setting, and investment in climate solutions, providing transparency and accountability across the local investment sector.

This research outlines foundations for a scalable First Nations investment market in Australia. It identifies systemic barriers and proposes a theory of change focused on representation, systems alignment, and capital flows. The report recommends embedding cultural authority into governance and utilising blended finance to support First Nations economic self-determination.

This report outlines a multi-stakeholder framework to accelerate funding for a sustainable ocean economy. It provides specific recommendations for financial institutions, insurers, and governments to manage systemic risks and mobilise the estimated one trillion dollars in additional finance required by 2030 to meet global climate and biodiversity targets.

Lead generation in Australia's digital economy has become a significant source of consumer harm, involving the harvesting of contact details for sales pitches. This report examines manipulative practices that manufacture consent to avoid consumer protections, highlighting the $1 billion loss from the First Guardian and Shield Master Funds collapse.