Global Hedge Fund Industry Takes On ESG Rules Across Europe (1)

The hedge fund industry is lobbying hard to ensure the UK excludes it from new climate regulations, after prevailing in a similar campaign in the European Union.

The London-based Alternative Investment Management Association, whose members include Bridgewater Associates, Millennium Management and Man Group, says its main objection to the proposed rule — under which firms must provide climate transition plans — is that it would force funds focused on short-term bets to link those positions to decades-long emissions scenarios.

If a fund’s “investment horizon is relatively near term, then it might not be meaningful to have a plan ...