RIO DE JANEIRO, BRAZIL - Managers of large Brazilian fortunes are expanding the supply of funds focused on sustainability. Driven by the increased demand in the global market for investments in "green causes", asset managers are migrating their business portfolios and structuring new products guided by environmental, social, and governance (ESG) criteria.
With some R$30 billion (US$6 billion) under green fund management, Brazil is still crawling compared to the global market, which manages almost US$1 trillion in sustainable funds.
With resources in the hands of only three exclusively green managers in Brazil (Fama, JGP, and Constellation, all of . . .