SIF 2022: Consumers do not trust industry 'marking own ESG homework'

People want to see 'proof points'

Consumers do not trust the investment industry ‘marking its own homework’ on sustainable investment and want independent third-party ratings to bolster their confidence, Boring Money founder Holly Mackay told delegates.

Mackay said consumer confidence in sustainable investing was low and people wanted "third-party validation" to ensure they are making the right calls. Speaking at the Sustainable Investment Festival today (12 July), she said metrics were important and would boost credibility. "People do not trust us. People want to see the proof points. They want to see the metrics. But there are loads of metrics out there without benchmarks. "The vast majority of investors want to be a bit better than they were last year, they do not expect perfection in the next year but they want to see proof po...