In the first four months of 2020, investors poured a record US$12.2 billion into ESG funds. The steady inflow is explained by the profitability of ESG investments, which have turned out to be remarkably resilient to disruption. For instance, more than 70 percent of ESG funds for all asset classes outperformed their competitors. And at the end of the second quarter there were 534 index funds focused on sustainability, overseeing a combined US$250 billion in Europe and the United States.
COVID-19 AND ITS IMPACT ON SUSTAINABILITY
The onset of COVID-19 caused an immediate shift in global priorities. Many thought that the pandemic would cause companies to relegate ESG down the list of priorities, but so far the opposite has happened. Major corporations across industries — including Barclays, Biogen, General Mills, Google, Intel and Tetra Pak, to name a few — announced bold sustainability commitments amidst COVID-19.
So, what caused this influx of commitments? COVID-19 has highlighted the need for strategic disaster preparedness plans — which in turn increased the urgency behind preparing for climate change, resulting in minimizing COVID-19’s impact on climate change.
This story is from the Issue 17, 2021 edition of SME Magazine Singapore.
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This story is from the Issue 17, 2021 edition of SME Magazine Singapore.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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