09.06.23
Firms Are Spending More on ESG Data, but It's Hard To Manage
by: Karen DeMasters
Most asset managers and other financial firm executives are increasing their spending on environmental, social and governance (ESG) data collection this year to stay competitive or differentiate themselves from competition, according to data from a Bloomberg survey. Over 90% of the 103 financial professionals surveyed said they plan to increase their ESG data collection spending by at least 10% this year, and 18% plan to increase their investments by 50% or more. However, the firm executives also said they are having difficulty obtaining usable data because of the fragmentation among data collection agencies, which is holding them back from ESG investing.
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