Is it time to say RIP to ESG?

"It's time to say RIP to ESG," declared one of its key proponents at a dinner hosted by OMFIF at the House of Lords. Anne Simpson, formerly managing investment director for board governance and sustainability, CalPERS, and newly appointed global head of sustainability at Franklin Templeton, explained that the environmental, social and governance movement had come of age and would be integrated into the "visible hand of stewardship" for all companies and investors.

Other voices at the table pointed to a contradictory and potentially irreconcilable debate on standards and a misguided focus on transport. This is now being further complicated by the risk that the Ukraine crisis will shunt climate considerations down the priority list as well as make East-West co-operation on these issues much harder.

The dinner was attended by key influencers across sustainable finance, with the heads of sustainability and ESG investment at leading banks and asset managers including BNY Mellon, State Street Global Advisors and DZ BANK in attendance, as well as environmental groups and academics from the London School of Economics and London Business School.