Investors’ Perspectives on Sustainability

  • Benoit Leleux
  • Jan van der Kaaij


In the previous chapters, we noted how the financial industry in general, and institutional investors in particular, have started to imbed environmental, social and governance (ESG) factors and UN Sustainable Development Goals (SDGs) into their valuation and portfolio management methodologies. In effect, the industry is acknowledging the fact that companies actively managing relevant ESG parameters are not only controlling their risk exposure better but also constructing more sustainable futures, with both dimensions leveraging each other to increase valuations. In this chapter, we elaborate on this rationale by looking at how major financial investors have adopted sustainability, either by incorporating the principles in their practices or by developing investment schemes around it. For this, we have sequentially reviewed the worlds of venture capital, private equity, hedge fund and mutual fund managers, with examples in each. We successively document how the various investor classes incorporated ESG metrics into their value creation arsenals, dedicating investments and personnel to the pursuit of higher goals.


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    This case is an abridged version of TUMI and the Doughty Hanson Value Enhancement Group (IMD-3-2299) Copyright © 2018 by IMD—International Institute for Management Development, Lausanne, Switzerland ( No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means without the prior written permission of IMD.
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    This case is an abridged and edited version of the eMBA case assignment by Claudio Mellace, Etienne Zeller and Laurent Gaye (IMD eMBA June 2018) conducted with CADMOS and its engagements funds under the supervision of Professor Benoit Leleux. Copyright © 2018 by IMD—International Institute for Management Development, Lausanne, Switzerland ( No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means without the prior written permission of IMD.
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Copyright information

© The Author(s) 2019

Authors and Affiliations

  • Benoit Leleux
    • 1
  • Jan van der Kaaij
    • 2
  1. 1.International Institute for Management DevelopmentLausanneSwitzerland
  2. 2.Finch & BeakBredaThe Netherlands

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