Environmental, social and governance (ESG) principles are key to family office investment priorities — and family office professionals expect an increasing focus in this area, according to a report by Ocorian.
Ocorian’s survey of over 130 single- and multi-family offices, Family Offices and the role of third party service providers, found that 94% of respondents said ESG principles are a key consideration in family office investment priorities (40% strongly agreed and 54% slightly agreed with this idea). Similarly, 91% said they see ESG as part of their fiduciary duty.
Looking to the future, almost all respondents expect an increased focus on ESG principles from a fiduciary perspective over the next three years: 37% foresee a dramatic increase and 51% a slight increase.
The survey also asked about philanthropy. Almost all respondents (91%) predict an increase in the level of philanthropy from family offices and ultra high net worth families over the next three years, with 29% expecting a dramatic increase and 62% a slight increase.