LONDON: Vladimir Putin’s invasion of Ukraine is shining the spotlight on the largely unregulated business of environmental, social and governance (ESG) ratings, after investments billed as socially conscious bought into a regime that’s now being accused of war crimes.
On the eve of the invasion, about US$9.5bil (RM40.09bil) in funds meeting European ESG standards were in Russia, often on the basis of ratings from companies such as Sustainalytics and MSCI Inc.
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