Financial Services
March 2, 2023
Affluent investors are calling ESG frameworks into question, according to Knight Frank. Image credit: Knight Frank
By Emily Iris Degn
Ultra-wealthy investors are mitigating risk, making adjustments to their portfolio approach in the wake of a perceived economic "permacrisis."
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OFkn3eXkoUTj9tBOcDAlu34X5k759eN\/6f6QsH6onsIA4gx+tVyn\/m9Yjl4UITzAp2N6AMVHk2BMyyDtvvbfVWfor8K3BcF93ehMkJyJS\/OmEu2XTU9yP3AbXrOBKxnRjNvfWEp151ueyE9EIPIfErsdgn83y04CPUfPc6KX\/ZxnnRV5SNzpEppOuEHC\/gIpYHQ\/LuLKHhPCK27xC4v8Kwb2aUy+TdTiX8mZX7ytKeVlvKkztik+zdMjR233jXzsieDTIvcpqU5TodyILm0ccneQa6iLNbTA51KI28Kghdw6+wOov4g1DLzMMS3znJLs\/cWIrs2\/e7+xKoKCRHGaojvfDn5SxNGl5MHUuKRn1\/jwLwuF\/3m8Z6DceA72+iflnCcOSA2cex7Vbhylx+ct9owS\/IGFqPBWNp5eQkLYBNE9ijqEpKJVbBJGLxNDemKcB12CDzaxo83NOVtfSAS8adpIHmaTi8BLPJOO8yXZwdhJI464Jl0wHCnLL13+4slShMKHNRKU4wBNnGBXKDriP6AOCih2Z4deScRjgKBrtWctzx2n3R7jkOP9MEggyWyQoq373Fqy\/zVNq4ntkEibbwOk86PZgevY+1dX4iWqnsVD+ahyr5xEL2znsBupdzRFLACDLVX5ZynXw7euyMQ+odRJbmGsrtFv49DsOtnPc7KPf+yKsEatXaVdgOoIMVRws8M10rCi5kOro3H+QbMm53R64S9PDvFTnjlV0\/VROkLWvWQPHUzkfpo55leRgrO0t5u\/mnW+3rjktRz\/jEZcdTreA02bx19l7FFE6+c6m0H2GvxSpDk+It8c\/Jp9WeGzYcVwvCMu8OJjmhA\/o6ufn0MVi0Kssuh\/3V0tGu+1aapPNtBMFPeOe0vvci7JXu\/ltwJixXwgOwOZuTn3hkBw3cMNUM+U7x7uggq+AyJMteLe2oWoqzgz4d9zS2\/EuuXwsyoQ4CIC+MmabIj7Uvmc8wiPafkIoQoTl9EVFI+d55NgDpKKrh3fFuKmcE6Gn3BYBvTyJL\/dYO2DDOi5npkn85HPWsHNGyvlXpX1UEOrRH9KzUjW3IkRCazI\/QkZUkz3sWCvPty1Yi9Hu5alW0oBsGtRWjJQJrXKgENhrRBsufYPcyVY8OMxg\/cmc4vhwaNZP4CR1u2N8zBIdaRzWpWCRZCBAesKfl2hVb4Q3RM1pc1j8tB5fgEBY9Ud6Bz0m7Xv938Zp9GyrVvRiRmr1BRvUbPe9mybSOL94JTh0xtsJ9bIisBnMHsfwOaeft3UpPTpftwb9C8q2nbw6OnMQfcFGrKKWlfN3eQvgPVkjYEnjYdtyb+xAZFhdU6JcvSdlpbwcDFUDf\/nhJYy0aTFK9jaMe3sGnmDKbGpBNKcZG+XANa58In9rIAtJFEHsMFe9AkSCfLk15s25y\/AUtxjoZetQBqiC0RTyJsukZiFYDornAjzIzih6mcrFbmVLbjF1upDm2bt5uZBFlaeiwc7jy+1LroxrAqZwzbhqt1+b5sLUqHWATzzHunlL5ycf4fGuZiI9sjmQRpFHGd1\/vLZFupBGkxbHnee00ZSvMtnJEp2EGDo\/LnNTdVC6\/kLUr\/NuaXdDt9nE72Cpe8f7C7tCEXFlBbiUWleQoNihEelUb0i\/eozESimdOPz1zijAAteZXANoA4ujaGlcQFwhWkZEERksx4+frciudOpMkT5oBExnkngZKNNsvJkqu7OSuBmloVOhLJ40F1fdIqL2F23g9bFQSzih86aXTnzXHxer1GasSjqfSR3rFHEvjDFYmAtq2aCCqi+2vUB1XyBAvBd77Qwa4AZpmcyiE18afG1n4TiVCZhOJNjiSLW8QZIjUDaMzpZR0NeFHNi4gYMFZk0CG\/tSjl6YcBV9oR8TI5ZnM1mKFVX4PQAuDHix9VTN04Q3Ovqk+oYNGarYS6+xdENhP\/jT+powat+wHqYyqqrQnFWI96CQGhNXmwg4dPX5e43lDp8J6nG96TrFi4wXEZA\/ei\/H8F\/LRNMD8AmSb7kJd7vYuRvZZRpLm\/oMCsuCHg3VqSPbpbTRjmztWZ8BHYmBdIYriI3AnT5cYJ51D+U9j9cE\/6\/pwNkVYnpuynsOvb2TcW5mcV2lBWvvWvClHf6ghkAf4qrsrSF9sSQ5UYmi995czfkTGAjdyuhtAQKl649\/DZx2vHuqDsC\/d5\/IjygZJgsuMJqhiOxcevZ7GXIdv2vVEJHW4PEr8O1jdTcNjYI2Kgptk3yeM3wzN\/jS4\/\/Jbjaez+m6PhvPBmM4UTIrFL7WCmwmLhD1kWwGgWC8wl7EUVQeArxFZytVxL43Rq8Qaj+xOs+LKpbhdZnKQV67XP9n2pxelSjNu9yZTGAT\/aw1IjH2ox+vukU7PPV8zOWr1mp6qk76LE7oBAp6StxbXH3LutSPZEcXg9TCZAbotZXyT4BrqD3FdXUEM+8Gl2IEJbuyhoIFVg7GvTThmEmJYfHycFGU7ApjgvCXcnzzD+M1y+q29mxfmhJVuEM2ZC9aJWaemhrawT4mfYtmRFwmXm3+XgJHQge7JReB15ix9a7O6hAZo5dokh0SOGgLTd2iQmTk5tSRvkUGk7RKa6KdlckOpnenh63pKyBSSiMw8HzMPTBYeuE71kmH8KRb1Jh29tDEeGmvSXLyDrLMlAGd4J\/MK\/EINvN1egPj28n6dT5I22jlIoJlPpc7jtHH1M8RkxR+2lEBmR4XqoL\/agcAbPVZt3d8woHi4cTZfmRDWYvisV8aLfbCjEk3QKsYvp5EqsRD8Mssd1BrYP1GurtLKocY5cjaD3fqVOvID244nZild6\/C6Row7B1AwmaDKkHmUXCISY2T90J44xWlpehVBXM36oRhCpehUC3TItYA7QnAdGIunR6anomSGhijpiwFuwZJOZ0SoZ0JNUgpi0HG1cexDHITOP8R0WUncI97oG6Szk9YYoKdRyIL0Tl2awabo+1AJzPxd8f2IqhhGLvTN61PY0LZYLNiFwAVmgxWahxDt3\/DTrkdUWjx57upeSyJ8zyPJlxucclMD2AAuofoA39+6aJLTJBKjTpjw40WafwJOr\/B5+L5mwsH9a82EVMug4n7ZztHUmazhmVHZoSqfczSx4Gu6YM4pyRMzAD7qBd558hYSXDrZoTEDMuE5P6N8nHKnpiuRiV8XS\/GeYRYO\/HVAH2079aYdTyBUqSoGSvoi4HTpC81xusOha2pe1Dowj64\/5abjlN0kbvdRULiYl5POH\/i5uynKTFclV3YSLRUIEFOCzPdfVJ7WO+dhtjjfv4tsP9JINPyAdBrRFfzFUrIA0vqE+voTHvl1TXvaX04wiyKvnnDGnLmZ\/pmc8KPl75KSwJyMpEP\/sZ8QwHKkQs2rnke2i7M72dLovGOYUi1XBClqF3aU+yzyMpZSIamPoS+2ORUQFzkLIEiLRpwcgi+l2e3WecQrt8U4xLvhy8\/THeswf4RilF71pT9Z\/KxXSVdvrgjpnp3GgnyLDzCxQmmzqGJTRA\/cxhdr9mwKMq+UHcliTOV7yjKE5oDzQxC\/7spjBZ0hRWRlvvE6whzgNj480EjUMXeskAk6M1HpU3lm8km0TjV\/rXeGdgkshBNOckfoX8ExeTrJkZUr9dhU6FObL83\/W1Rs294noeixoljDw\/kYiQZr\/P11TGfCcJ8nkXBdcWjNas2L12DmJ4QaB3azSGHXxJbdNuLJB4C\/Pqw0qkO19n6sB1a7IPzlGdvG0uOb8+X\/uCU34EZ6NyPJXKTxpJocvNyIJb7THCPXnKL9sbQ6NTh1fuqPJouRT1SW5VL9pvBWLzzX+m3IkIPHhFsYyOa\/2GUWtof2RAY+BnEbqUZ0qSCcWJplzDfIYYCTjYb4qNDxhC7GKa9IFIlOCT512mXFPjceFiyVKIE879loSnMXFI8rmehrZXxc5xSU9PLI3qSxCaFguUkGktvd46fb16Hp22AiwBc9xXtm1AvK34lKftRoGS79\/0ACnicMw8yBaYVa0TcEd\/\/1EV2oUhusE2Yv3W6b7ffCVkIarUPp2r8LBX7+lylrvJSDHX4nX3xyCs+I6qFQqrhlBRf4+bvc6Vj7gmD7iiS25BsHYVgd6hu38p9xpnGZ7RmeziUkX8nSCJmy\/d5btKNDlaJHmL37+6T6UvAOKWruEKISYzIWURJyCBncRHEbGdfEvRTH3Z1Dqsu0yqGwFIlE6jVdMUCotlr76yefMjcq5SLYGfgXgAXUEaLeRI6yZs8dS+H+dqhmRz5wpr9LOflFotaYIGq3oOfEqcCVc3iuW2cwd0rPtuxJrGe6lcKQnt35VCZhc7xMIoogsfEv7fnxUsffBcF1RJA7m2\/JEuFb6iZhKa2DBmceWer8OTCnKYnmgyMXSYrhevboYi0u+sHY4vm8xzXqcPEA2iDF1hNhfVlJ2zv2xU\/q1KdZcN\/8Izh4EyEYu3fIa4o7lfeVsbBL0hl0BREhchBkVy9Plm+\/L8m52dFhyOISrcApAbJwnwTAOGf0ovaqju+0JYb\/o0Ws1z4HGzgbSxskROb0gHDEBzFWnl2o6VyGlAUYD86UshXh8u6KA3mc76VMjmf\/v4Vw8jxf0Q5HF907ew9hapECWVfbqWVQbv60esYMOqpvkuEMv5M2HzXTqe3Rvj1B2RFfjNmQtvqVIqryBizfZFFfAvPlioVGodXeyXY6sGtOYhC6m1GKXtLSTfpVK0LrjiyEwcjrvWuFhnvsaDeam\/rlE2t2CvFX5ZCOzJwETOXpH7GCwA17fIAofxfMChMPMOx5XTg3c9tFAa4ZMa1x+Oa29tizuEtcZOdz5tY6MdOrKayCH1\/AV9SwTB3lbUbzhiaCaFZpMd4x0zHRTAqzA+DIoGibjEYaE9i98hujYqLCUzKhkHjjlahUzNUKDbap+6R3BP0FT2fzgCqz+WQ7mHe2rMuNrst5Sa1H9DSTvaRXf+Es7nZUEDiy9qrf3ebXAKMWHcUL\/HTG0XlzpWpFVKxOJZzxeZwl7Hbzx4DhdEKaQuWwmJPNd2strPesJvCfWSeE7VWuKkq+lW2UzlBAnp+hOyRlLPtd5snMv7gTWMZJmt5bMTBcYfg5Cg32mSibggvR7Tu5UUSmhwBvkVVNoXcSO9r7xYkVaZUdw2h+LBD\/sb\/ebL58ix6K3j\/fpYxzCtdQQ\/2HMJc2YEZJoC4zGyoYOZN4qfjuFEhifKD5SKFuIoDZofrLc+kBlodjruThmHcVLj6jub82fvEKQ2AjqDMPrIrkmdn\/SCsFd3OADO1PP+nXDzOsC+wilvbK6JuK3iO45LjgsVDU2thNUsarpi3L1MuNFKhOOMOr1LaamveLiiEys1azFNf0f99fWq\/cde1zlI6pmLbhQ4b2i0yJCL3nYyx4JITJff0pOKlvvecbss6HlkEFgY0dV1zsWoV4ARTprvdxR\/YGp46MaMzlaZXDEDaSkeK36VdnIe2xnOjKgrNZEbCsCJGy58YJbWu2SQINVNth+12A47M1VlOscmQA5MzuG+JS1oY59tmh1tL\/x7yOso0LOrEEjrYeT6XTguGhHL7a1Ulh7vBwei1qVAapTGGlPUPk+8Z2+8jeDVDpZrqDJQnGV7yTgo5EJt49XPE4SbKJqEIpxtAynyD95tRIjmlCXVsZIqaLzrMCqi\/RG6X9yytbOoWOmYoaipY0E9AkcA0bUi5rjNcHnFcCvbnk4sy7pqnY1smBc4pHm9RAC3nMiGqeZmoMqQZHoTeLCmcGDU8n96v\/ZjUtdRCg4sGS4SogM9RI06ijLAeANjOA7RJnJlg89vycT3vZ6ZgVHGC\/CjFETmkFibW9qTc0408iZp5saoEeXvXwU9oRxc6bX5qqridriP9mnT0zb+BtRs4lpDs25RhxLtgE4uw0X01s1dZCCLiIrBQSzvodo+o430wE9EaRrjATIVqoi6jx+eS8M3uWxLcn2owNQ8lu4oLh7PWIgDOXeUvnZPJ3YcPwNmAkad1v522utMWsB\/liM11JEIq2YE9QUxVeKPxJpvUh5BG2t+vr1p9LNBJjIUAMx9fYyMqJlsmeeFwJBTJtTWHaNrFr+KdwixFd4Ao10NgcttnA5CWmloQZCVzO6PYGU+uCCGSGGPsUhaXIYxI5uwv8wupDtnx0hvZQeLbsB8DlJxolTtK1oSnd4cBbvkT+TZo0dK6XiTGvJRgJshWcboA1YsG\/w4e5qVsmJdFx0Sn+Z06fIvslPgsYyEtUgL\/LNWOWOaTektjCJkDehiBel98eCemHL0qjBt5xXIkpISzTL36Fpi+3uEUdlIj7B+f1YGltXDIkqDODJgziylgZAmlr50zxPEFIb8lFOXRZA8+dz4wg9e3pNO6DfWTpwa3NE9J3EsSLpCkbm1t6pm1OG1kJdqNN1a1lej16i5ObFOAYXoS5DnhXBJp6nYfpGaV+HyB5Zm6sKYOIrWusvcYw8ZvodDuhIK4vjeBHpMWeT5KnMq9TOB3LHPea7r2R5yd4C8sUZnUERKgTpf2EuJb\/xt0NYEVQaN5cdEPmtfQz2A8h32NO2HXm6T50ryBSUa1ElR5AODQ8m6Q6YFMagpxIpqSW6nD8tl87Fq36DdiMVyiW8EelqC8cWER04FQZ2UDQ5rJxLYpyG3mCpxSK++177ZN\/bSHu1OQHBXxXH7ktcMUgeeUsr0R3AGbtjy01GdCzZr4z+tE2\/vVH9DZWm1\/mWvD4+PtVCvsu519V7ZilNYH9IUZeUCTlxrSOt3dMm27vvLgx3Tro4eNjUQsAyogev3IMLz7URINVMvlYbPYgTUxWxgi72I3QXRnPHNiz\/SHOS6W6nsXO3aXB3MNgX1KKUh7squWyMMcvjGUqPN\/rb\/oZRtgYxqEwRsCkHbiEi\/uWG5cQ2ilcaM1GGes35jtxjvKu3y4GV8VttpcjjDK6bNJ08jqqOqkDXjx7XQocbrg+rDgD0LcneI2xmTMw\/YWD3B80OgJG\/KU9GibBv3NICgx0noQcEpyHd8KYH1mY9vyJWfCWjPzYwsdljfZ+CbPbO4e86XAgAlnQvocdMdWDxl8juyqAVpn2cgKD2UCExjTHVh4LUCStWG2niG+ic4p4U0JOI351xuN9HlTgd+0ljBm9QURXkONWy4VtRNJifdLEA9crzvLscgvPbeQfMMsncn2Fo9Je78d0f\/S2x6RmkWOFkXAjHsbEaU1b8ZUp\/BZZ+gZ6wzlJyj\/rBUDbVyZ26IpRGnuqT2Jd4JqjKcjiMLrGjizdlUGQtraNDAMoXmEDvOwmgx+oGc86ZZFWRzbfCqXyyuDuTRYctqHPMIYfqhirkm3T1VSDZxpC\/W\/VOBpUv2JKwi1ac34uX2DJsB4XEP3X9ScG8ucZqd4sxKaLJiwJvz6Pxy8VcgiwgUiHZRlrwBqX2ifO\/+ZV\/9AoCrZP+lB6pty9J7G2\/Kil9YfA6kJ+GIUEL6px0QoSe4q0caPHVn8aZd0v5upyK9P2ZjU1DbpxbCEUVUTT6ifHStEnsvRZX+LFrK+BwMEK9OJtwVEXzbdutYn5OSockXMzSMZvH\/M7rFKhMMF70qcxyOOeUn8\/NkZ+\/Tmz7+0YBIDVJSnaxdo3ejhjzK7b\/3WIPhukog+2\/CbyAfwR7pnBCzOm+P5s8fMbK5wE58zMOJo79E3im1fnH3PgYgPqBM9zZw\/HkNLbaiZQro3QzSSLLzkOZm1wPU5FiUAb6YPeyP05b95lMxyacS5F5lqUBsxMlIcMHWPkzqxXjMIJsIfCECOKVW40T9q60JCT2e5lDqwap3B+UKDgo2kCYBt1SWj+QAaxwqm5ruJ7dNT71WZTnZGsQNt4yyXSt85mBzz\/NdjmjUbek58e83aHxj7H+E44n+fKTLOvYVpb2W5wYJApjjgOF0BLpOJEUEVzsUl1KHiYRtlEHYH\/QQG4mDAmb1CPtFV0syUw7Jj\/g==","iv":"73ddb628382af0b9a044f82e62a156c6","s":"59fd78d97a7548da"}
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