PwC Luxembourg has launched an interactive ESG dashboard dedicated to supporting European asset managers to expand their ESG operations, and help them to gain an accurate view of investor demand and market developments.
The dashboard consists of an interactive data tool, interactive report and raw data files to provide comprehensive insights into the ESG investing landscape as well as sentiment among European institutional investors.
The launch of the ESG dashboard comes after PwC conducted a survey of 3,354 respondents which found that 72 percent of European asset managers are willing to halt all non-ESG product launches – most of which by 2024. The survey also found 71.9 per cent are willing to pay a premium for ESG products.
European-domiciled ESG assets are poised to reach between €7.4 trillion and €9.0 trillion by 2025, by which time they will account for between 46 per cent and 56 per cent of total European mutual fund assets, cites PwC.
The respondents for PwC’s survey were situated across the UK, Switzerland, France, Netherlands, Germany, the Nordics, Spain and Italy.
Olivier Carré, financial services market leader, comments: “This report highlights a historic asset and sentiment shift within Europe’s investor bases, one which has seen ESG evolve from a ‘nice to have’ for the most sustainability conscious investors to an all-encompassing paradigm shift across Europe’s traditional investment landscape.
“Regulatory developments are a primary driver behind this growth and have led to the foundation for ESG standards to become increasingly extra-territorial. We are already seeing likely international regulation following the EU’s example in this regard, particularly in light of mounting global political commitments towards tackling ESG and sustainability issues.
Carré concludes: “As regional regulations become increasingly stringent and as efforts towards the development of global ESG standards intensify, managers – especially those willing to compete at a global level – will be pushed towards an all-encompassing alignment of their products and operations with ESG.”
