Kids skipping school may not be able to change the world, but the climate-change school strikes started by Swedish teenager Greta Thunberg in November 2018 show how the sustainability debate is heating up. By the end of May this year, student protests had affected 131 countries, and politicians worldwide have been snapping selfies with the young activists. It’s not just kids. Everyone’s expectations are changing: 62% of 30,000 consumers in 35 countries surveyed by an IT company in late 2018 want companies to take a stand on issues such as sustainability, transparency and ethical employment practices. Today, 90% of CEOs state that sustainability is important to their company’s success, according to the University of Michigan’s Erb Institute. Companies, investors and banks are committing to sustainability. In May, German auto manufacturer Mercedes-Benz made a promise to go carbon neutral by 2039—no mean feat for an automaker. From 2012 to October 2018, assets managed in accordance with environmental, social and governance (ESG) principles increased 60%, to reach $1.05 trillion, according to Morningstar. “Momentum is building,” says Eoin Murray, head of investment at London-based Hermes Investment Management, which has $44.4 billion of assets under management. “It’s not a style.”
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