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Laxman Pai, Opalesque Asia: Global money managers with a combined $77 trillion of assets under management are failing to protect biodiversity, said a report.
According to a report released by ShareAction, asset managers continue to drag their feet in the adoption and implementation of measures to combat the "most dangerous human and natural crises of our time".
Investment strategies that consider environmental, social, and governance (ESG) risks, or invest in companies that look to have a positive impact on climate, people, and the natural world, have raised trillions of dollars globally.
Yet, two-thirds of 77 asset managers surveyed, which control $60 trillion of assets, had "serious gaps in their responsible investment policies and practices," the group found based on an analysis of their policies.
The four biggest asset managers in the world - Blackrock, Vanguard, Fidelity Investments, and State Street Global Advisors - all scored poorly, receiving either D or E grades, meaning those managers with the greatest influence are coming worst in class.
Claudia Gray, Head of Financial Sector Research at ShareAction, said: "A majority of the world's largest asset managers are failing to meet even basic criteria, let alone take the steps needed to help protect people and the planet for generations to come.
"The impact of the decisions these asset managers make cannot be understated. As managers of tens of trillions of dollars, and investors in ...................... To view our full article Click here
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