78: How ESG rule changes will make investors happier | Lee Coates of ESG Accord

11 Jul 2023 / Podcast Tax Advantaged

By Dr Brian Moretta

ESG Accord

There have been two recent changes that will affect how ESG is applied in practice to fund managers, advisers and, most importantly, investors. Lee Coates of ESG Accord has been advising on ethical investment for three decades, runs a consultancy to help others implement ESG and and is on a relevant FCA committee. We had such a great discussion that we are giving it to you in two parts: this is the first.

We start by discussing the background and how sustainable issues have evolved. Lee has strong views on where things are going and sets out an interesting perspective on what this means.

He follows this by discussing Consumer Duty and how it will affect ESG. We initially focus on advisers and the changes they will have to make. Lee outlines the new requirements and how they fit into what advisers are already doing. He also talks about how the changes will be good for advisers’ businesses and lead to more involved clients.

Fund managers and investors do not get ignored though and we discuss them all further in the second part which will come out next week.

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Visit the ESG Accord website here.

Suggested books

Shadow of the Wind by Carlos Ruiz Zafon

Nomad Century: How to Survive the Climate Upheaval by Gaia Vince

Brian also mentioned:
Lying for Money by Dan Davies

Lee Coates, Director of ESG Accord, launched the IFA firm Ethical Investors in 1989, which dealt exclusively in ethical and responsible investment advice. In 1998 Lee launched the independent ethical research company Ethical Screening. In 2010 he launched Australia’s first animal-friendly superannuation fund ‘Cruelty Free Super’ and was awarded an OBE for Services to Ethical Business and Finance in 2011. In October 2020 Lee co-founded the ESG Accord, supporting advice firms to implement robust compliance procedures to meet client investment preferences and objectives, including ESG and sustainability. Lee is part of the FCA’s Disclosures and Labels Advisory Group.