Held earlier this year, the ‘ESG investing olympics’ was a first of its kind open tender with the key instruction for would-be managers to “impress us” on social and environmental integration and impact.
60 proposals were received from a wide range of managers, with five invited to present to an auditorium of mission-led investors, including charities and religious organisations, at the Royal Institution in London in March. The five ranged from boutique impact managers purposely seeking to invest in solutions, to large managers integrating ESG and seeking to move markets and transnational companies via their stewardship.
By taking this approach to selecting a new manager, the charities hoped to:
- Bring investment management out of the shadows
- Draw on the expertise of like-minded investors
- Share learning on emerging best practice in the market, and
- Send a market signal regarding asset owner demand for investment with purpose and expectations for ESG integration and impact.
The proposals were assessed for intentional social and environmental impact, high standards of ESG integration covering exclusion, engagement and its escalation, voting record, in-house expertise, and impact reporting.