A recent BNP Paribas Corporate and Investment Banking (CIB) ESG survey covered 53 hedge funds managing US$500 billion, which is approximately 20% of industry assets. It found that 40% of the group were already integrating ESG, and 57% will be by 2022. Yet 56% of those not currently integrating ESG viewed it as irrelevant, particularly for macro strategies: only 10% of macro managers polled are integrating ESG.
Equally, some managers have been running “sustainable global macro” or “ESG global macro” strategies for at least two years. Some institutional investors apply ESG policies across all asset classes and strategies including macro, and there are various ways in which ESG can be applied to macro investing in markets such as government bonds and currencies.
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