MIND THE GAP
Sea change in commitment to sustainability among funds
Momentum is building in environmental stewardship. MAS has alerted the industry that guidelines are imminent on environmental risk management for asset managers
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IN the space of two to three years, a sea change in commitment to sustainability and stewardship has engulfed the asset management industry - and that is a good thing.
As recently as 2018, a column by this author found a divide in the stance towards sustainability and ESG (environmental, social and governance) investing between larger firms with a global presence and smaller firms.
At that time, giants such as BlackRock and Amundi had a few years' headstart embedding ESG into the portfolio management process. Smaller firms were only starting, if at all, citing a dearth in demand.
