As clients prepare to reward and punish managers on their green credentials, more hedge funds are taking note and taking action — from planting avocado trees to dumping coal assets. It’s been a rapid change of heart: Just over a year ago, fewer than 4 in 10 hedge funds felt that environmental, social and governance factors were becoming more important. It’s “something our investment process seeks to identify in a fund manager.”AdvertisementPutting hedge funds and climate in the same sentence often invites sarcasm in an industry known for its uncompromising profit motives. Some of the world’s largest hedge funds, such as Millennium Management, Renaissance Technologies and Marshall Wace, declined to comment when asked about their ESG initiatives. They’re looking to buy companies favored by green investors and short firms that don’t fall in line.

Source: Los Angeles Times February 05, 2020 18:56 UTC