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Morningstar ESG Chief Asks Herself: What Do Those Trillions Do?

  • Investors have bumper year as ESG brand turbo-charges flows
  • Top researcher says it’s not clear where all the money’s going
Hortense Bioy
Hortense BioySource: Morningstar Inc.

Fund managers are about to close their books on another bumper year of ESG flows. What that means for the environment, social justice and good governance is unclear.

Hortense Bioy, the global head of sustainability research at Morningstar Inc., says she’s struck by the persistent lack of clarity around investing strategies marketed as ways to protect the planet.