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“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.”
JJ Editor's Picks
"The top brass of China’s Communist Party (CCP) – its 370-strong Central Committee – recently emerged from the Fourth Plenum of the 2017 Party Congress. Such meetings, usually one a year, are key forums for policy discussion. At the previous..."
"Mayor Pete is having his moment — for the second time in the campaign. Surging to the head of the pack in a recent Iowa poll, and edging out Vice President Joe Biden in last quarter's money race, Buttigieg is staking his claim to being the..."
"careful reading of Walden; or, Life in the Woods makes it clear that Thoreau never intended his cabin to be a solitary hermitage, although fans and detractors alike often misunderstand this. It was more an author’s workshop than a fortress of..."
"In the fall of 2015, a rash of posters appeared around Copenhagen. One, in pink letters laid over an image of chicken eggs, asked, “Have you counted your eggs today?” A second — a blue-tinted close-up of human sperm — inquired, “Do they swim too..."
"While there’s plenty of disagreement about how the money should be used, almost everyone involved in public-policy debates agrees that it would be good if the federal government could collect more revenue without raising tax rates or reducing..."
"On a brisk November night, a solitary man wandered around the plaza outside the Duke Energy Center for the Performing Arts on the edge of downtown. He had just flown alone from New York to see his favorite comic, Louis C.K., and he had an extra..."
"Judaism has been described as many things: a culture, a people, a religion, a nationality, and more (including, according to answers given to the 2013 Pew survey of American Jews, a culinary disposition for bagels and smoked salmon or the..."
"US sex education is decades behind other countries. Right now, it isn’t even mandatory in every state. Add to that the awkwardness people feel about sex and bodies in general, top it with the idea of having to have these discussions in public..."