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Almost half (49%) of asset managers and other top investors worldwide are willing to divest of companies that fail to sufficiently follow environmental, social and governance (ESG) best practices, according to a survey by PwC. “ESG has now become a make-or-break consideration for leading investors globally,” PwC said.
Fifty-nine percent of the survey respondents said they would likely vote against a pay agreement for an executive who fails to address ESG issues, and 79% said the way a company handles ESG risks and opportunities is an important factor in their decision-making. PwC surveyed 325 asset managers and analysts at investment firms or brokerages and conducted interviews with investors and analysts managing more than $11.6 trillion in assets.
“It is clear that investors expect ESG to be an integral part of corporate strategy,” according to James Chalmers, global assurance leader at PwC U.K. “That includes making expenditures to address ESG issues, while clearly communicating the rationale and benefits to the business strategy.”
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