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ESG Investing Is Heading for a Reckoning, Says One Veteran Manager

  • TAM CIO says period ahead ‘could be like a baptism of fire’
  • He said some companies won’t survive higher interest rates

The ESG investment industry may be headed for a reckoning and many companies won’t survive this period of higher interest rates. 

That’s according to James Penny, who’s been running ethically focused funds for about a decade and is currently the London-based chief investment officer at TAM Asset Management. He predicted that several companies owned by ethically focused funds will struggle to refinance their debt, without naming any specific firms.