A poll performed by Amundi, Europe's top asset manager with 100 million clients and €1,950 billion in assets under management, found that Italian respondents place a high value on "ethical" investing. 58% of investors have sustainable or ESG funds in their portfolios (an acronym that refers to companies' strategies that focus on environmental impact, social inclusion, and good governance rules to reduce the risk of accidents and scandals), which is five points higher than the international average. The driving force behind this trend is young people, which gives hope for future growth in ESG investments, though the topic is now less popular on the supply side, to the point where a Morningstar study revealed a collapse in the commitment of large American asset managers to push companies to adopt sustainable business practices. With global wars escalating and anti-ESG sentiment growing in many US states, sustainability is no longer fashionable on Wall Street. However, there is an increasing demand in this direction among young savers.
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