Global interest in ESG, particularly the environmental "strand", continues to accelerate. The US has seemingly set on a clean break from the policies of the previous administration, rejoining the Paris Agreement and setting out ambitious plans at the Biden climate summit in April.
In Europe, regulations around ESG disclosure in funds came into force in March, applying to funds that are used by non-European investors as well. We are seeing an increasing convergence of direction globally and, at the same time, an increasing divergence of what that direction might mean in each region. Now that can happen in any global enterprise, but in terms of ESG and climate, divergence risks undermining the goals of what clients, asset managers and regulators are trying to achieve. To start to shine a light on the challenges, it is helpful to consider what clients who are a...
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