Amid a spate of corporate governance issues coming to the fore in recent months and growing focus on climate change and sustainability, many fund managers are pushing schemes centred around the environment, social and governance (ESG) theme to investors.
Avendus and Quantum Advisors recently announced plans to launch ESG funds, and they aim to garner about $1 billion each over time. SBI MF had converted one of its schemes SBI Magnum Equity into an ESG fund in May last year. SBI Magnum Equity ESG Fund currently manages Rs 2,126 crore.
ESG investing contributes over $20 trillion, or a quarter of