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JPMorgan Wealth Unit Nutmeg Calls Out ‘Astonishing’ ESG Gaps

  • U.K.-based digital wealth manager warns of ESG disconnect
  • Criticism comes as ESG industry finds itself at a crossroads
JPMorgan Chase & Co. Bank Headquarters Expand in Paris One Year After Brexit
Photographer: Nathan Laine/Bloomberg

Nutmeg, the digital wealth manager owned by JPMorgan Chase & Co., said the finance industry has done a “poor job” of translating its environmental, social and governance claims into terms that make sense to investment clients. 

As a result, there now seems to be a disconnect between what the industry says it’s doing and real-world evidence to support those claims, said James McManus, Nutmeg’s London-based chief investment officer.