Exclusionary ESG: 'The tree that fell in the forest that no one heard'
PineBridge exec blasts 'weakest form of ESG'
Mike Kelly of PineBridge Investments
An ESG policy defined by excluding companies is "the weakest form of ESG", according to Mike Kelly, global head of multi-asset at PineBridge Investments, who said the investment principle was "never supposed to be all about how you select securities", but rather "how you engage with those securities once you are an owner".
"If you are a university student in your 20s without any financial assets, making speeches [about environmental concerns] out on the campus, then good for you. Keep doing what you can," Kelly said...
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