Lessons in Legacy, Chapter One: The Legacy landscape - Flipbook - Page 18
Whilst often seen as the preserve and concern of next gens, the reality is that
growing discussions and challenge within a family are causing current gens to
assess how ESG considerations should further shape their legacy. In turn, they are
placing pressure on investment managers and corporates to develop ambitious
and profitable sustainable investment programs to meet demand. It is increasingly
recognised that ESG can contribute to long-term financial performance, whilst
mitigating against broader societal risks, and every business needs to assess
their success against the ESG metrics.
In addition, often families with a longer-term outlook are really well placed to
think beyond the short-term return, particularly in respect of the leadership of
their businesses. Aside from the financial returns that can be delivered with an
ESG focus, there are the additional benefits of increasing alignment across the
generations as to how wealth is being managed, and helping tackle societal issues
in every aspect of how you deploy your family’s capital, and not just in respect of
philanthropy.
“
We are seeing the lines between philanthropic and investment
aims blurring in places, with investment sometimes being seen
as a more effective tool than philanthropy to
bring about change.
E L E A N O R S E PA N S K I , P R I VAT E W E A LT H PA R T N E R
HE
BOODLE HATFIELD