WHEB: Indecisive Dave and the backlash against ESG
We’ve all met indecisive Dave. He is the one who reverses his opinion to echo whichever of his mates spoke last. Dave’s opinions are infinitely malleable, driven by his desire to avoid conflict and consequently he ends up offering no point of view at all.
Until recently, ESG advocates had enjoyed a wonderful couple of years. The past few months though have offered more of a test. Like indecisive Dave, asset managers that had previously proclaimed their commitment to ESG, are now wavering.
BlackRock, HSBC and Vanguard have all seemed to row-back from previous climate change commitments for example. Should they now disavow their previous allegiance?
