BlackRock CEO Larry Fink may have found the will to move his firm forward in environmental, social and governance investing, but it appears, at least according to a Core Data Research study, that global fund buyers for the most part aren't following suit.
The online survey of 200 professional buyers done last November found only 7% of these firms state that ESG/sustainability factors are among their most important selection drivers. Track record was the most important criteria to 60%, followed by investment philosophy (53%) and investment selection process (51%).
North America and the United Kingdom were most likely — 9% and 10% respectively — to put ESG factors higher in the selection process. No Asian or Latin American fund advisors listed ESG as one of their top three criteria.