“Thanks, but I don’t believe in that stuff…”
While traveling the country this fall, that was the response we received from some financial advisors after the introduction of an investment that focuses on sustainability. When pressed to explain, the common refrain was “ESG or SRI investments underperform, and I want my clients invested in the best companies”.
Unfortunately, thirty seconds in an elevator or hallway is not enough time to build the case for sustainability. But here on AlphaBaskets, we’re afforded the space and time to better explain why Sustainability should matter to them, and you. And rather than start from scratch, let us lead you to a recent piece from Fast Company: http://www.fastcoexist.com/3036010/why-is-goldman-sachs-advocating-for-sustainability
If “Accenture, Deloitte, Goldman Sachs, Harvard Business School, McKinsey & Company, and PricewaterhouseCoopers have released data-driven case studies, global surveys, and exhaustive reports offering compelling proof that using business as a force for good is also good for business”, then how could a financial professional ignore the facts and say “thanks, but I don’t believe in that stuff”? Willful ignorance or a deep-seeded bias? Maybe. Whatever the reason, this cognitive dissonance is present when the facts conflict with preconceived notions.