Pertinent retreat: Pedestrians walk past the JP Morgan Chase headquarters in New York. Its asset management unit has withdrawn from the world’s largest climate alliance for investors this year. — AFP
NEW YORK: Sustainable investments in emerging markets are facing a reckoning as environmental, social and governance (ESG) strategies crumble under the weight of ongoing capital outflows and the appeal of higher-yielding energy bonds.
ESG investments in developing nations have floundered over the course of the past year, with emerging markets recording a third year of consecutive outflows, largely due to tighter global monetary policies in both developed and emerging economies.
