Some people were a bit surprised by those kind of headlines... Well, let me explain. Another ESG thread, not the most cheerful one.
reuters.com/business/susta…
reuters.com/business/susta…
True story, on a no name basis for obv reason.
1. Big asset manager has very successful equity fund.
2. Marketing want to add an ESG label to it, to raise even more money.
3. ESG manager says "no, it would change investment process too much, no go."
1. Big asset manager has very successful equity fund.
2. Marketing want to add an ESG label to it, to raise even more money.
3. ESG manager says "no, it would change investment process too much, no go."
4. Marketing has none of it. Let's hire a big 4 consultant.
5. Big 4 looks at fund. Produces a report : if u change universe and use this one instead & if you take this data vendor and not the other one, then your fund is ESG compatible Art 8 SFDR with no investment change
5. Big 4 looks at fund. Produces a report : if u change universe and use this one instead & if you take this data vendor and not the other one, then your fund is ESG compatible Art 8 SFDR with no investment change
6. Asset manager pays big 4, big 4 produces a nice "compliance report", everybody happy.
7. Clients can now claim they invested in an ESG fund.
Beautiful.
7. Clients can now claim they invested in an ESG fund.
Beautiful.
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