Why ESG is Becoming a 'Business Imperative' for Asset Managers

Goldman Sachs Exchanges

Goldman Sachs

Business

4.4 • 1K Ratings

🗓️ 25 March 2019

⏱️ 42 minutes

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Summary

Integrating ESG - environmental and social governance - into asset managers' portfolios is becoming a "business imperative," says Richard Manley, head of Environmental Social Governance Research in Goldman Sachs Research. In this episode, Manley explains the business case for ESG, why Europe is leading other regions and what households can do to lower their carbon footprint. This podcast was recorded on February 1, 2019. All price references and market forecasts correspond to the date of this recording. This podcast should not be copied, distributed, published or reproduced, in whole or in part. The information contained in this podcast does not constitute research or a recommendation from any Goldman Sachs entity to the listener. Neither Goldman Sachs nor any of its affiliates makes any representation or warranty, as to the accuracy or completeness of the statements or any information contained in this podcast and any liability therefor (including in respect of direct, indirect or consequential loss or damage) is expressly disclaimed. The views expressed in this podcast are not necessarily those of Goldman Sachs, and Goldman Sachs is not providing any financial, economic, legal, accounting or tax advice or recommendations in this podcast. In addition, the receipt of this podcast by any listener is not to be taken as constituting the giving of investment advice by Goldman Sachs to that listener, nor to constitute such person a client of any Goldman Sachs entity. Copyright 2019 Goldman Sachs & Co. LLC. All rights reserved.

Transcript

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0:00.0	This is Exchanges at Goldman Sachs, where we discuss developments currently shaping markets, industries, and the global economy.
0:14.4	I'm Jake Seward, global head of corporate communications here at the firm.
0:17.4	Today we're talking about a phenomenon in investing that's gained a ton of momentum in recent years,
0:21.5	ESG, environmental, social governance are the E,
0:26.7	N, S, and G. The terms evolved quite a bit in terms of what it means to talk
0:31.9	through that evolution, including how companies all around the world
0:34.8	are focusing on sustainability, the growth of renewable energy, and much, much more.
0:39.0	We're joined by Richard Manley, head of global thematic stock and environmental social governance research in Goldman Sachs research.
0:46.0	Richard's based in London but here today in New York for the week.
0:49.0	Richard, welcome to the program.
0:50.0	Thank you for having me.
0:51.0	You've been involved in research for a long time, but how did you get focused on sustainability
0:57.8	and G.S. sustained particularly?
1:00.2	What's the evolution there?
1:02.0	It's a really interesting story.
1:03.5	I think it is often the case with some of our best ideas.
1:07.7	There was some outside influence.
1:09.2	And in this instance, it came as a result of a letter from the United Nations then Secretary General, Kofi Annan,
1:17.0	to ask whether we would be prepared to write a research report looking at whether good companies generated better returns.
1:23.4	And it ended up in the lap of our oil team
1:27.0	that I was a member of in Europe in 2003.
1:29.5	And look, I have to say, an oil analyst receiving a letter on do good companies generate better returns when we knew our industry had an unfortunate history of health and safety incidents, environmental impacts, community unrest, and at a moment in time when it was quickly becoming part of the global warming debate,
	...

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