JPMorgan Wealth Unit Nutmeg Calls Out ‘Astonishing’ ESG Gaps

Nutmeg, the digital wealth manager owned by JPMorgan Chase & Co., said the finance industry has done a “poor job” of translating its environmental, social and governance claims into terms that make sense to investment clients.

As a result, there now seems to be a disconnect between what the industry says it’s doing and real-world evidence to support those claims, said James McManus, Nutmeg’s London-based chief investment officer.

“Even as a professional investor looking at this for the first time, it was quite astonishing to see so many strategies that are outlining how they’re going to do something, ...