ESG becoming even greater focus for money managers, survey finds Pensions & Investments
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According to Russell Investments’ seventh annual ESG Survey, global asset managers are increasing their investment resources for ESG. Increasing numbers of firms are adding ESG metrics into their investment processes, according Russell Investments’ seventh annual ESG Survey.
According to the latest survey, 82% of asset managers have included qualitative or quantitative ESG factors into their investment process. This is compared to 78% of last year’s survey. The U.K. saw the most growth, with 100% of managers reporting that they will incorporate these factors in 2021, as opposed to 87% in the 2020 survey.
Companies are investing more than ever before. There is also a significant increase in the number investment professionals who specialize in responsible and sustainable investing.
The latest survey found that 55% of respondents employ dedicated ESG professionals, as opposed to 43% in 2020.
Asia ex-Japan saw the most growth, with 60% of respondents saying they employ ESG professionals. This compares with 33% in 2020. Canada also saw a significant increase in respondents, with 52% saying they have ESG professionals on their staff, compared to 26% in 2020.
The U.S. saw 47% of asset managers say they employ ESG staff, compared to 36% in 2020.
Respondents to the survey said 52% of them offer ESG-specific reporting, 49% in 2020, as more asset owners are pushing for transparency in ESG factors in investment processes.
“ESG integration in asset management investment and business practices continues to evolve at a rapid pace with forward-looking materiality assessment being the key consideration,” Yoshie Phillips (Russell’s director for investment research-global fixed-income), stated in a news release announcing survey results.
Phillips stated that asset managers are now applying more rigorous ESG analysis to their portfolios and seeking greater transparency. “There is still much to be done, especially with respect to climate change which is becoming a key focus of ESG agendas and is the No.1 concern among underlying clients.” “The number one concern among underlying clients”
The survey also revealed that corporate engagement was once again the most common source of ESG-related data, with 81% choosing the category, up 76% from 2020. 78% of respondents said their information is primarily obtained from company reports and regulatory filings (up 70% from 2020).
Asset managers are now using external ESG research vendors at 65%. This is up from 62% in 2020.