Bankers, money managers and other financial market participants are starting to loathe the label ¡°ESG¡± ¡ª but they¡¯re also sticking with the strategy, according to a Bloomberg survey.
About two-thirds of respondents in a survey of roughly 300 Bloomberg terminal users said the anti-ESG movement that started in the U.S. last year will force firms to stop using those three letters in conversations with clients. However, they¡¯ll continue to incorporate environmental, social and governance metrics in their business, they also said.
When it comes to ¡°the three-letter acronym ¡®ESG¡¯ ¡ª people don¡¯t want to talk about it as much because of the news flow from the U.S.,¡± said Alex Bibani, a senior portfolio manager at Allianz Global Investors in London. ¡°But from an investment perspective and what we do internally, it has never been more important.¡±
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.