The principles are designed to focus on long-term outcomes as opposed to short-term gains for business, with the goal of improving the balance between society's present needs and shrinking natural resources. Indeed, the wealth management industry has been making more noise about ESG factors in recent years - particularly in the wake of the financial crisis - with many firms making key hires to emphasise their dedication.

Most recently, Pictet Asset Management brought in Eric Borremans as sustainability expert, a role in which he will be attached to the firm’s quantitative socially responsible investment team. Meanwhile, in May, Aviva Investors appointed Adeline Diab as head of integration for its global responsible investment team.

Mellon Capital manages $30.4 billion in socially responsible investing and ESG mandates on behalf of its clients.