In Charles Dickens’ classic novella, A Christmas Carol, elderly miser Ebenezer Scrooge is visited by the spirits of Christmas Past, Christmas Present and Christmas Yet to Come and, after this journey of self-realisation, he rediscovers the true meaning of Christmas and becomes a happier man.
It is very easy to recast this story as an allegory for ESG (or sustainable finance). The ghost of ESG Past is one of optimism, such as when mission- and faith-driven investors, many from the Christian faith, sought to align their money with their values and use their investments to drive change. ESG was moulded in the context of pushing for change against challenges such as apartheid and the Vietnam war. This is, in many ways, the ESG that our clients desire today. Divergence set to define regulation in 2024 following passing of UK financial services act Indeed, as we look ...
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