Oil and gas companies dominate the Russian economy, but investor efforts to encourage better corporate governance are beginning to yield results.
Russia and ethical investing are not typical bedfellows.
The top priority for President Vladimir Putin’s government is improving the economy, ramping up productivity and streamlining the bureaucracy.
Environmental protection and social issues are a long way down the list.
According to Elio Manca, managing director at ITI Funds: “The big companies in Russia are involved in oil and mining”.
“Russia and environmental, social and governance (ESG) do not typically go together,” he said.
But this may be beginning to change.
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