BlackRock, Fidelity, Legal & General, M&G and abrdn are among 125 firms endorsed under Britain's tougher best practice code to stop "greenwashing" by asset managers, though 64 peers failed to make the grade, the Financial Reporting Council said on Monday. Asset managers are under greater scrutiny from securities regulators globally to prevent "greenwashing" or exaggerating the climate-friendly credentials of their products to investors. The FRC beefed up its decade-old stewardship code in 2020 to stop "boiler plate" statements about investment decision-making that it said did little to show if investors were getting value for money.
The roll-out of COVID-19 vaccinations is making life insurers more enthusiastic about offering cover to those with underlying health conditions - some without even knowing whether customers have been vaccinated. Life insurers were imposing waiting periods to buy cover in the early stages of the pandemic for certain age groups, as well as for those who had been infected, saying the long-term health consequences of coronavirus were not fully understood. But now that vaccines are prevalent in major economies such as Britain and the United States, life insurers see fewer risks.
Half of all over-50s will still be in the workforce by 2030 as older workers increasingly delay retirement.