For Quintin Rayer, head of research and ethical investing at wealth manager P1, issues around fast fashion retailer Boohoo highlight yet again that wealth managers need to ensure fund providers are doing their own due diligence, rather than tilting portfolios in line with ESG criteria and with a heavy reliance on ratings agencies. “Looking down supply chains is not easy, but in the case of Boohoo there have been red flags for some time, with journalists and other sources pointing towards possible irregularities.”
Q G Rayer (2020), Interview on boohoo for Citywire Wealth Manager ESG Review. In chapter 1, ESG Comes of Age, p5-6. https://citywire.co.uk/wealth-manager/ezine/citywire-esg-review-2020?p=1&utm_campaign=ESG-suppl&utm_source=ezine&utm_medium=email&utm_content=1310-ESG-suppl-WM. 8th October 2020.