Many investors are choosing to funnel their money into investments that address climate change and climate risk, a move that asset managers are rushing to meet the demand.
For fund managers, evaluating specific stocks based on the ESG criteria can be difficult. Nuveen managing director Steve Liberatore, who manages securities on an active total return basis, said that he looks for securities that have direct and measurable social and environmental outcomes, with help from third-party data providers.
Bank of America's CEO Brian Moynihan argued this week that interest in ESG among investors will continue to grow, and dismissed concerns that the push towards sustainable investing was a public relations tool. 88% of studies show that firms with social and environmental criteria had better operational performance,"Across different benchmarks of ESG, companies that take it seriously are financially stronger and get higher financial returns in marketplace," Sarda said. "If anyone argues that this is a drain on financial performance, the data says otherwise."
Peirce said that ESG factors are amorphous and subjective, and therefore the process of determining which companies count as socially or environmentally conscious is "pointless."
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