Bankers, money managers and other financial market participants are starting to loathe the label "ESG” — but they’re also sticking with the strategy, according to a Bloomberg survey.
About two-thirds of respondents in a survey of roughly 300 Bloomberg terminal users said the anti-ESG movement that started in the U.S. last year will force firms to stop using those three letters in conversations with clients. However, they’ll continue to incorporate environmental, social and governance metrics in their business, they also said.
When it comes to "the three-letter acronym ‘ESG’ — people don’t want to talk about it as much because of the news flow from the U.S.,” said Alex Bibani, a senior portfolio manager at Allianz Global Investors in London. "But from an investment perspective and what we do internally, it has never been more important.”