Some active wealth managers are shunning the electric car maker Tesla. They see failings in the area of governance and consider the evaluation of the titles to be exaggerated.
(Photo: dpa)
Frankfurt Götz Albert is a man who likes to swim against the current. The chief investment strategist at the Lupus Alpha fund house is resisting the zeitgeist in the financial sector to reduce the issue of sustainability primarily to ecology. “With the ESG criteria, too much attention is paid to the environmental aspect, many analysts and investors have tunnel vision here,” says the manager in an interview with the Handelsblatt. Other experts agree with the stock connoisseur.
ESG stands for Environmental, Social and Governance (good corporate governance) – the acronym has become an integral part of the world of finance. According to an analysis by Broadridge Financial Solutions, the share of ESG investments worldwide will increase from eight trillion dollars today to up to 30 trillion dollars by the end of the decade.
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