Former U.S. climate envoy Kerry says 'ESG' needs to rebrand

LONDON, Sept 30 (Reuters) – Money managers' approach to environmental, social and governance (ESG) investing in the United States has been discredited and needs to shift its focus from morality to economic impact, John Kerry, former U.S. Secretary of State and climate envoy under President Joe Biden said on Tuesday. Kerry, speaking at the Building Bridges conference in Geneva, said that the sustainable finance industry needed to emphasise the material impact of climate change on companies. Kerry last year joined energy transition-focused investment firm Galvanize Climate Solutions as co-executive chair. He was addressing a gathering of finance professionals, governments, NGOs and philanthropists to discuss sustainable finance. (Reporting by Virginia Furness, Editing by Iain Withers)

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