Thought-leadership: ESG & Impact Investing firsthand from first movers in EuropeSign up here for our free Roundtable Scripts - get this unique intelligence by email as Opalesque publishes them: The emerging consensus is that ESG may have a slight plus when it comes to financial performance. But even assuming it's zero, the integration of ESG externalities is still worth doing. And so, as a consequence, the fundamental question is then actually changing from "Why?" to "Why not?". However, apart from any debate, investors globally demand to invest according this new investment paradigm. In the Netherlands, half of ABN AMRO Bank's private clients already invest sustainably, however admittedly in many cases not for their entire investment portfolio. It's really the asset owners who are leading the way to responsible investment, with more and more institutional investors taking ESG seriously as they are starting to feel the pain and recognize the risks of "business as usual". 85% of PGGM's beneficiaries claim they want ESG (less 'bad') and impact (more 'good'), but at what cost is the question that is often left open (however discussed in this Roundtable). Admittedly, a lot is hidden under container notions like ESG or SRI, and you can easily fake it pretending that you took all of that into account and then you do the usual thing anyway. This is why this Roundtable also discusses in detail the need to quantify and measure impact and how to go about the shortcomings of third party ESG data and scores. One of the strongest drivers are millennials, who by definition make up the pool where any ambitious company is competing for the best talent. Increasingly, clients and employees want purpose: "If you can't deliver that in the talent war, you're out of the game," says PGGM's CEO. The reality is that for asset managers and advisors, ESG/Impact/Sustainable investing is a fantastic opportunity to differentiate yourself and to start again with new products, in an industry that is completely mature and increasingly becoming automated. It's an opportunity to reinvent the whole industry at a perfect timing, as the opportunity set keeps unfolding. "Clients want this, that's not the problem. The challenge is finding asset managers truly investing in a sustainable way," says ABN AMRO Bank. Financial advisors have found that they can completely transform their relationship with clients by engaging with them on ESG and impact investments (page 24).
The inaugural Opalesque ESG & Impact Investing Roundtable, sponsored by ABN AMRO Clearing, took place in Amsterdam with:
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