GEMs ESG Materiality, H2 2025 |Federated Hermes Limited

Sustainability. We mean it.

Insight

6 January 2026 |

Active ESG

In the latest issue of Global Emerging Markets (GEMs) ESG Materiality, we provide an update on our voting and engagement activity over the last 12 months, and shine a spotlight on our approach to climate-adjusted valuations.

GEMs ESG Materiality, H2 2025

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To illustrate our approach to climate-adjusted valuations in more detail, we share our assessment on TSMC, the Taiwanese semiconductor group facing climate-related cost pressures from carbon taxes increasing electricity and raw material costs.
We also provide our reflections from COP30, having been on the ground in Brazil, attending COP Finance events and engaging with our Brazilian holdings.