IA to launch consultation on ESG fund classification

The consultation follows the creation of an ESG committee, set up by the IA earlier this year. Will Oulton, director of responsible investment at First State Investments, is chair of the working group that is looking into whether the European Union's definition of ESG is "fit for purpose". He said the IA is looking at whether the UK needs a different definition due to the evolution of the market over the past decade. "The IA is doing work on this, taking the definition from Brussels that has been used for the past decade and seeing if it is still fit for purpose," he said. "There i...