Points of View

ESG finance is finally entering the mainstream. This became crystal clear at COP26 when a group of financial institutions representing $130 trillion pledged to use its assets to decarbonize the economy.

After many months of back-to-back gains, global stock markets faltered in September and ended the third quarter on a slightly down note, marking a pause in the remarkable rally since the COVID lows 18 months ago. The lull may be ascribed generally to the pandemic. Renewed lockdowns caused by the Delta variant this summer forced factories in many countries to keep workers home and cut back production, even as demand for goods swelled. Meanwhile, shortages of raw materials and labor tangled supply chains, throwing global trade into disarray and exposing the vulnerability of just-in- time inventory management.

The global economy is experiencing one of the strongest synchronized expansions since the 1980’s as vaccination campaigns reach a growing percentage of the population, governments ease COVID mobility restrictions, and demand for goods and services surges. This has been especially true in the US, which posted an annualized growth rate of 6.4% in the first quarter.

In the first part of this article, we discussed how women have challenges that are different from men when it comes to building wealth. The following strategies may also be helpful: Creating a spousal IRA, setting up health savings accounts, and claiming Social Security to maximize your benefits.

As investors, women have to deal with challenges that are different from those facing most men. Unequal pay, limited employment opportunities, and glass ceilings often reduce their lifetime earnings. The demands of pregnancy and childcare, most recently evident during COVID when women sacrificed work opportunities to care for homebound children in far greater numbers than their male partners, further widen the economic gap. Womens’ healthcare costs also tend to be higher, and because of a longer life expectancy, their assets need to last longer.

The rapid growth in ESG products makes them increasingly easier to deploy in investment portfolios. It also helps ensure that your values can be expressed in a way that helps you meet your financial goals. Along the way, these strategies are creating change and can make your money a force for good.

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The first quarter of 2021 was marked by a sea change in financial markets around the world. Equities continued to power higher on the back of a recovering global economy, and the MSCI All-Country World Index gained +4.57%. Conversely, improving growth expectations contributed to a significant increase in interest rates, pushing the broad bond market down by over 3%.

2020 was a year of loss, upheaval, and adaptation with few parallels in recent history. For investors, it was a year of radical uncertainty and extreme volatility, including the steepest market decline and the swiftest recovery ever, a global economic shutdown, and monetary and fiscal stimulus programs that dwarfed all precedents. In the US, we lost 22 million jobs and regained 12 million, impeached one president, elected his successor, and marched by the millions to protest racism and police violence.

Despite 2020’s volatile mix of ingredients, the third quarter was a period of relative calm for investors.

The COVID-19 pandemic has delivered a historic shock from which the global economy continues to reel.

The market convulsions of the past two months have been unusual by any standard. Only twice before, in 1929 and 1987, have investors experienced comparable volatility.