25% of money managers took steps to reduce carbon emissions

25% of money managers took steps to reduce carbon emissions

Source: https://www.pionline.com/esg/25-money-managers-took-steps-reduce-carbon-emissions-pwc

Author:  Paulina Pielichata

A fourth of CEOs at global money and wealth management firms completed initiatives to reduce the carbon emissions of their businesses, according to a survey conducted by PricewaterhouseCoopers Luxembourg. The survey provided to Pensions&Investments also showed that 23% of global CEOs are planning to adopt alternative energy sources in their business operations and 28% are planning to decarbonize their business models. PwC said that when it comes to innovating new climate-friendly products or processes, global investment firms are laggards. Only 36% of CEOs said they are currently in the process of designing such innovations, PwC said. The survey of 217 asset and wealth management firms based worldwide also looked at the outlook for money management businesses. In the short term, about a third (31%) of CEOs, said they were "very confident" about short-term growth over the next 12 months, and 36% said they were "moderately confident." In the medium term, 38% of global CEOs were "very confident" about their revenue growth prospects, whereas only 5% of global CEOs were "not confident." Top executives said they are aware of their exposure to macroeconomic volatility and to inflation. Some 40% and 41% of CEOs, believe their business will be exposed over the next 12 months to market impacts and inflationary pressure, respectively.