ESG Considerations for Fund Managers: The U.S. Landscape (Part One of Two)

Demand for investments that take into account environmental, social and governance (ESG) factors continues to grow. A recent Dechert program took a deep dive into the most pressing issues that fund managers interested in pursuing ESG strategies are likely to face. The program featured partners Julien Bourgeois; Anthony S. Kelly, who was the former Co‑Chief of the Asset Management Unit of the SEC’s Division of Enforcement; Andrew L. Oringer; Mark D. Perlow; and Mikhaelle Schiappacasse. This article, the first in a two-part series, explores the key insights from the program on ESG in the U.S. regulatory landscape, including issues unique to ERISA fiduciaries, private funds, managed accounts and registered funds; SEC examination and enforcement focus; and strategies for ensuring compliance when embracing ESG. The second article will address E.U and global ESG developments, including E.U. and global leadership; disclosure, taxonomy and low-carbon benchmarks regulations; and other E.U. initiatives. See “IFI Global Panel: ESG Will Fundamentally Transform Investing in the Coming Decade” (Mar. 12, 2020).

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