"The direction of travel is that ESG matters more and more, so it’s fair to conclude that access will be very difficult for companies with poor ESG credentials," Amundi SA’s head of equities Kasper Elmgreen said in a telephone interview.
"The sequence is high cost of capital at first, and then in the worst cases there will be no access to markets," he said. Paris-based Amundi had EUR 1.59 trillion of assets under management as of July 30.
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