Members of the ESG industry investing in companies transitioning to a greener business plan and outcomes have faced criticism for backing some of the highest emitters.

But for Ninety One Asset Management CEO Hendrik du Toit, ‘brown’ companies are the “low-hanging fruit”, where fund managers can make a real difference in the move to a more sustainable world.

As a result, the company will be lobbying for a ‘transition finance’ category to be considered at COP27 for investors to park their money.

“This category is not just green but essentially brown,” Du Toit tells ESG Clarity in the London Ninety One office. “It’s not dirty: it’s changing, it’s getting towards green – it’s just not brand new green.

Read the full comment in ESG Clarity’s May 2022 digital magazine.