November 19, 2019

The Wealthy Discover Climate Change

“Family offices are where the rich throw their wealth around. These discrete companies are tasked with managing the money of the wealthiest families, acting more like small governments or global banks in their investment clout.

Now, however, over half of them “consider climate change to represent the single greatest threat to the world,” according to a new study released on Tuesday (September 24) by UBS, a Swiss bank.

In a survey of family offices conducted by Campden Wealth, a market research firm, 19% of the average portfolio was found to be invested sustainably, which is defined as “an investment approach that involves the consideration of environmental, social, and governance (ESG) factors in the investment process.”

But this figure is expected to jump up to 32% in the next five years as “8 in 10 family offices believe that the world’s wealthiest families will play an increasingly active role in helping to address global challenges historically reserved for governments,” says the report.”

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