Finance
Avocados Are the New Coal for Hedge Funds Chasing Sustainable Cash
Clients are increasingly willing to hold their asset managers to account on climate issues—and the managers are beginning to listen.
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Some of the world’s most cynical investors may finally be coming around to climate change.
As clients prepare to reward and punish managers on their green credentials, more hedge funds are taking note and taking action—from planting avocado trees to dumping coal assets. It’s been a rapid change of heart: just over a year ago, fewer than 4 in 10 hedge funds felt environmental, social and governance factors were becoming more important.