Panel: "ESG: One size fits all?"
Environmental, social and governance factors have become important considerations in the investment policies of all responsible asset owners. Once a niche investment theme, now ESG investment has become mainstream.
In 2019, 24 institutional investors have registered to the United Nations Principles for Responsible Investing (UN PRI) in Italy. So far, the figure amounts to 49 in the country.
In this context, four leading Italian fund selectors provided the event's audience with their thoughts and first-hand experience regarding responsible trends.
Manuela Cedarmas, senior PM & fund selector, and head of Emerging Strategies and Markets at Tages Capital, was the panel's moderator while Linda Andreoletti, portfolio manager at the Quantitative team of Pramerica SGR; Luca Anzola, head of fund research and due diligence at Fideuram's multimanager division; and Angelo Meda, head of equities and ESG research at Banor SIM were the panellists.
They all agreed in the difficulties of assessing and selecting sustainable and responsible investment strategies partly due to the still lack of standardisation around the subject.
Anzola cited culture as part of the problem while considered communication key to raise awareness within the industry and the society as a whole.
Meda by his part said that "at the beginning all was based on exclusion, which was mainly imposed by the Catholic Church. According to him, this exclusionary policies were a bit subjective since clients should also be having their say. Lack of standardisation was also making it difficult for fund professionals, according to Meda.
Regulation and standardisation seem to be key to overcome greenwashing and scepticism, so believesAndreoletti, who stressed the importance of the EU Taxonomy, the draft list of economic activities that is currently being drawn up at European level in order to channel private investments into clean technologies.