"On Tuesday, Harry and Meghan announced they are joining Ethic – a fintech firm that makes asset-management technology for sustainable investing – as “impact partners”.
“We believe it’s time for more people to have a seat at the table when decisions are made that impact everyone,” Harry and Meghan wrote on their website, Archwell. “We want to rethink the nature of investing to help solve the global issues we all face.”
".....ESG benchmarks can vary widely, as can penalties for missing promised goals – all of which leaves the space wide open for a form of abuse known as “greenwashing”.
Europe has gone further than the United States and Asia in trying to create a regulatory framework to weed out greenwashing. Europe’s market for ESG products shrank by $2 trillion between 2018 and 2020, after regulators there enacted significant changes in what exactly defines a sustainable investment.
Risks could also be clouding the outlook for the space. Last month, the Bank for International Settlements – which is like the central bank of the world’s central banks – warned that the growing popularity of green investing could trigger an asset bubble."
In other words, would I invest in Ethic? Nope.
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