Asset Managers Found to Have ‘Blind Spot’ Around New ESG Risk (1)

The asset management industry is overlooking what promises to be a major new ESG risk: biodiversity.

A fresh analysis by nonprofit ShareAction found that only 10% of the asset managers it surveyed say they have a dedicated biodiversity policy covering all their portfolios.

“Even the top-performing asset managers in the survey have a biodiversity blind spot, often failing to take into account the protection of important habitats such as forests, rivers and oceans when managing their investments,” said Claudia Gray, head of financial sector research at ShareAction.

The study, which looked at firms representing a combined $77 trillion in ...