Anti-ESG Movement in U.S. Feeds Anxiety Among UK Investors
Investors in the UK are starting to worry that the anti-ESG movement may spread from the US and get a foothold on the other side of the Atlantic.
The UK Sustainable Investment and Finance Association (UKSIF), whose members oversee more than £19 trillion ($24 trillion) and include JPMorgan Chase & Co. and Barclays Plc, wants Britain’s government to provide clear guidelines that spell out whether it’s part of an asset manager’s fiduciary duty to worry about risks stemming from environmental damage, social unrest and bad corporate governance.
James Alexander, chief executive officer of the association, said he expects that UKSIF and other investor associations will soon “need to make the stronger public case that actively incorporating ESG considerations — including material social factors — isn’t in direct pursuit of an overt political agenda, but necessary for investors to fulfill their fiduciary duty.” Read More
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