Finance
‘Wild West’ of ESG Ripe for a Crackdown, Veteran Investor Says
- Patsky says managers are ‘slapping ESG labels on anything’
- ESG asset managers increasingly policed for greenwashing
Construction of a solar array.
Photographer: Bloomberg/BloombergThis article is for subscribers only.
There’s a veteran of ESG investing who can’t wait for tougher regulations to stamp out the false claims by fund managers in the $35 trillion industry he helped champion.
Matt Patsky, who runs Trillium Asset Management, first started hunting for environmental, social and governance investments back in the 1990s, long before most money managers were even thinking about ESG. He now estimates that only a fraction of today’s ESG assets are bona fide sustainable investing.