Different interpretations and conflicting advice can result in some investments that sound good but might not do much good for the environment or returns
. Get exclusive investment industry news and insights, the week’s top headlines, and what you and your clients need to know.As more fund companies have launched clean energy and RI funds, there has been a lot said about the theme, but no clear definition of what’s involved.
Globe Advisor spoke with two veterans of the responsible investing space for their perspective: John Cook, senior vice president, portfolio manager and team co-lead with the Mackenzie Greenchip Team at Mackenzie Investments, and Adelaide Chiu, vice president of responsible investing and ESG services at Northwest & Ethical Investments LP in Toronto. They offer some rules of thumb to help advisors and investors.
“ESG and thematic investing are two very different approaches. They’re both necessary, but the challenge for investors is to realize the difference between them,” he says. “If you see Microsoft Corp., Apple Inc., Bank of America Corp., you know, you’re looking at an ESG portfolio. If you see Canadian Solar Inc., Siemens AG and utilities like Brookfield Renewable Partners LP, you’re looking at a thematic portfolio.”A dedicated ESG team is Ms.
“There’s no such thing as a single ESG fund,” says Ms. Chiu. “I prefer to think of it as a broad spectrum of ESG offerings.”Mr. Cook says words like “climate,” “low carbon” or “sustainable” are commonly found in fund names.
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