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Article | Investments Quarterly ideas Exchange

The Ukraine crisis and what it might mean for ESG and sustainable investing

April 28, 2022

Will this ultimately increase or reduce the focus on ESG in the future? We try to answer some questions from investors.
Investments|ESG and Sustainability
Ukraine war|ESG In Sight

Firstly, our thoughts are with those impacted directly and indirectly by the events in Ukraine. The human tragedy outweighs everything else. However, we are understandably being asked by investors what the implications might be for ESG and sustainable investing as a whole. Questions are being asked such as:

  • Will this ultimately increase or reduce the focus on ESG in the future?
  • What does this mean for investment into Russia, Ukraine and other countries?
  • Will these events accelerate or slow down the push into green energy?
  • Has the focus on ‘Net Zero’ led to the cost-of-living crisis, in other words has a focus on improving the E in ESG come at the cost of the S?
  • Do these events highlight that there also needs to be more focus on the G within ESG as it pertains to governmental risk?

In this note we look to address some of these questions at a very high level. However, this is an incredibly complex topic that requires in-depth analysis, and ultimately there will be different views held by different investors and stakeholders. That has always been the case, but it is likely that views will become more extreme on either side of each argument, and there will be greater division between those that believe wholeheartedly in ESG and those that believe that the ESG movement is causing more issues than it is solving.


Chief Investment Officer
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Stephen Miles
Head of Sustainable Investments
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