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Buttonwood: Profit and dross

The Economist (London), 2021-09, Vol.440 (9261), p.61-61

Copyright The Economist Intelligence Unit N.A., Incorporated Sep 4, 2021 ;ISSN: 0013-0613 ;EISSN: 1476-8860

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  • Title:
    Buttonwood: Profit and dross
  • Subjects: Investments
  • Is Part Of: The Economist (London), 2021-09, Vol.440 (9261), p.61-61
  • Description: What if their cash could be used both to generate a pension, and improve the state of the world? "Sustainable" investment funds in the broadest sense managed $35trn of assets in 2020, reckons the Global Sustainable Investment Alliance, an industry group, up from $23trn in 2016. Mr Fancy points out that for all its trumpeting of virtue, the investment industry is self-interested: keeping tabs on companies' pledges to be better corporate citizens gives asset managers an opportunity to charge fatter fees. Even if the new approach does tweak firms' cost of capital (by funnelling more investment to solar firms, say, and less to oil giants) this merely promotes the dangerous illusion that business can lead the way on fighting, say, climate change or racism.
  • Publisher: London: The Economist Intelligence Unit N.A., Incorporated
  • Language: English
  • Identifier: ISSN: 0013-0613
    EISSN: 1476-8860
  • Source: AUTh Library subscriptions: ProQuest Central
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