WHEB AM's Seb Beloe: Tackling climate change should not be a gimmick

'Already impacting asset valuations'

The past few weeks have not been auspicious for those of us in the financial sector who want aggressive action to tackle climate change.

Several large banks, asset managers and pension funds have left industry groups such as the Net Zero Banking Alliance and the Net Zero Asset Managers (NZAM) initiative, which are aimed at tackling climate change. Colloquially known as the ‘ESG tourists', these groups launched sustainability products and signed up to industry initiatives when the sun was shining. Now, just a few short years later, as the storm clouds gather, they are retreating from those commitments. BlackRock becomes latest firm to leave global net-zero alliance A dramatic shift in the political zeitgeist mean...