If fund managers are serious about clean investments, they need to get their hands dirty.
), where allegations of accounting fraud and factory labour abuses, respectively, erased years - and in Boohoo’s case, months - of returns in a matter of days.
Vontobel Asset Management’s head of ESG, Sudhir Roc-Sennet, employs three ex-investigative journalists to bolster his traditional team of analysts. A central element of their job is kicking the tires on ESG scores. Nestle said the amount of freshwater used per bottle at the U.S. subsidiary was one of the lowest among beverages and its “team of engineers, hydrologists, biologists and geologists consistently monitors and cares for the springs and local environment in California”.“The water division is small and Nestle’s other business is sustainable,” he said.
Boohoo scored highly across some providers when the newspaper investigation lopped nearly 50% off its share price in three days. That was despite long-standing media allegations of issues in its supply chain. Many managers subscribe not just for headline scores but to access underlying research and data, ESG data providers say.But gaps and inconsistencies are spurring some fund managers to determine ESG credentials for themselves. This may involve investigating basic assumptions.
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