By Ross Kerber
Nov 5 (Reuters) - This is the weekly Reuters Sustainable Finance Newsletter, which you can sign up for here .
A slew of questions about whether fund firms will exit a key United Nations-based industry climate group makes this a good time to speak to its new U.S.-based leader.
You can find our interview below. It's also a big week for Norwegian investment policy questions, based on two of our stories about the country's sovereign wealth fund so I have included some copy Straight Out Of Oslo.
You'll also find a story about the risks of equity ownership by Uncle Sam, and one on how Exxon and Qatar are pushing back on the EU.
Please follow me on LinkedIn and/or Bluesky. You can reach me via ross.kerber@thomsonreuters.com
Meet the UN's new corporate voice at COP
With revenue of $55 million and the backing of the United Nations, the Principles for Responsible Investment group has become a key organizer helping big investment firms make use of environmental, social and governance investment tools and report on their progress.
But the efforts have faced setbacks, especially with President Donald Trump back in the White House since January.
New PRI interim CEO Cambria Allen-Ratzlaff takes over at a fraught time. From her Michigan base she needs to keep U.S. signatories inside the tent without frustrating European members looking to push companies harder on climate issues.
You can read my interview with Allen-Ratzlaff and David Atkin, PRI's current CEO who will step down next month, by clicking here.
Company news
Fast-fashion retailer Shein faces possible online suspension in France after weapons and childlike sex dolls were found for sale on its site, marring the opening of the Chinese company's first shop in a Paris department store.
A Trump administration deal to promote nuclear-power construction also shows the downside of U.S. equity ownership, since its incentives could cloud regulatory scrutiny aimed at preventing nuclear accidents, my colleagues' analysis shows.
The EU's Corporate Sustainability Due Diligence Directive could force Exxon XOM.N and QatarEnergy to stop doing business with Europe unless the law is loosened, company leaders warned on Monday.
Mixed messages from Norway's wealth fund
It's been a busy week in Oslo, where the mood toward sustainable investment practices from the world's largest sovereign wealth fund has run both hot and cold.
On one hand Norges Bank Investment Management said it would vote against the potential $1 trillion pay package of Tesla TSLA.O CEO Elon Musk, citing its size and dilution, and also against two of the electric vehicle maker's three directors up for election at the company's annual meeting on Thursday.
On the other hand the country's parliament voted to pause ethical divestments by the $2.1 trillion fund while it updates guidelines. The U.S. State Department had criticized the fund's decision to divest from Caterpillar CAT.N over Israel's use of its armored bulldozers and other machinery.
(Reporting by Ross Kerber; Editing by David Gregorio)
((ross.kerber@thomsonreuters.com; (617) 412 0093;))