Even after years of championing ethical and impact investing, Wayne Bishop finds himself having the same conversations about environmental, social, and corporate governance (ESG) from two decades ago.

“I meet a bunch of cynical advisors somewhere in the country and they say, ‘Oh, but [we already avoid] tobacco…,’” says the CEO of King & Shaxson Asset Management, part of the PhillipCapital Group of companies, in an interview with The Edge Singapore.

Avoiding tobacco companies is a modern-day example of negative screening, where investors actively exclude companies that do not align with their values. The practice started in the 18th century with the Quakers’ refusal to invest in the slave trade, says Bishop, giving an early example of ESG investing.

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