38 out of 75 of the world’s largest asset managers, with greater assets under management than the GDP of the US and China combined, are stalling on taking action on environmental, social and governance issues, according to new research released today.
The latest ranking by responsible investment organisation ShareAction raises doubts about whether 38 asset managers globally – managing assets worth more than $36 trillion – are taking responsibility for their footprint on society and the environment.
The research finds these asset managers, which fall in the bottom two categories of the ranking (D and E), have weak or non-existent policy commitments and fail to account for their real-world impacts across their mainstream assets. They also often lack appropriate engagement and escalation processes on climate change, human rights, and biodiversity.
