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ESG strategy is attracting fund bosses in Europe

An ESG strategy that’s too controversial for US regulators and some major ratings companies has been embraced by Fidelity International and other European financial firms as a way to safeguard long-term returns.
Photo: BERNADETT SZABO/REUTERS / X02784
Photo: BERNADETT SZABO/REUTERS / X02784
By Frances Schwartzkopff and Gautam Naik

Double materiality, whereby an investor doesn’t just screen for the environmental, social or governance risks facing their portfolio, but also measures its ESG impact on the world, isn’t incorporated in Securities and Exchange Commission rules or proposals.

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