Hosking Partners is a London boutique founded in 2013 by Jeremy Hosking, a portfolio manager at Marathon Asset Management for over 25 years. It runs a single global equity strategy built on the capital-cycle, supply-side approach — contrarian, long-term, and unusually diversified (350+ holdings) under a multi-counsellor model, managing around $5.5bn.
This report says ESG investing is moving from hype to substance, stressing the need to separate impact-driven from profit-driven investments to avoid greenwashing. The author believes ESG is here to stay but needs clearer rules. It highlights UK defense firm Babcock International as a portfolio holding, using it to argue that its ESG engagement (using shareholder power to push for change) works. Readers should note this is a self-defense perspective, not a buy or sell signal.
Hosking Partners notes that the ESG consensus is shifting from "ESG 1.0" to "ESG 2.0," with the core argument being that new academic research and regulatory developments indicate ESG will persist, but a clearer distinction must be made between impact-driven and financially-driven investment to avoi
The article points out that ESG investing is undergoing a consensus shift from "ESG 1.0" to "ESG 2.0", with the core distinction lying between impact-driven and financially driven investments. The author updates a report from two years ago, emphasizing that new academic research and regulatory developments indicate ESG will persist, but clearer distinctions between impact-focused and financially driven investments are needed to avoid greenwashing and capital misallocation. The author states, "clearer distinctions between impact-focused and financially driven investments are increasingly necessary to avoid greenwashing and capital misallocation."
The institution reaffirms two long-term recommendations for best integrating ESG into investment markets, though the article does not elaborate on the specific content of these recommendations. The article notes that the author assesses recent developments and reaffirms two long-term recommendations on how to most beneficially integrate ESG into investment markets. Readers should be aware that this is from the perspective of a position holder, and the specific content of the recommendations requires reference to the earlier original text.
The article uses UK defense company Babcock International as a position example and provides voting and engagement data. The report includes routine voting and engagement data and cases, specifically mentioning UK defense company Babcock International as a portfolio holding. The author's stance on Babcock is to hold and observe, but the original text does not explicitly indicate the direction of specific actions or valuation data.
The article is essentially a reaffirmation of the ESG investment framework's stance, rather than a specific trading signal. Institutional perspective bias: As a position holder, the author uses the Babcock case to argue for the effectiveness of its ESG engagement. Readers should recognize this as a self-justifying perspective.