As investors continue to connect their desire for a better planet with their investment decisions, fund managers say there is a lot financiers can do about climate change, but governments need to act too.
The financial industry has responded to the looming planetary crisis by creating a $35trn ESG market. And money keeps pouring in. The Climate Policy Initiative (CPI) estimates that total climate-related flows reached between $608bn and $622bn in 2019. According to Morningstar, in the first quarter of 2021, global sustainable funds attracted $185.3bn and ESG assets are on track to exceed $53trn globally by 2025, representing more than a third of the expected $140.5trn of global assets under management. Clean energy progress 'far too slow to put global emissions into sustained decline'...
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