Forget talk about how the new US President could affect ethical investing, there is a bigger obstacle to environmental, social and governance policies and it existed long before Donald Trump.

Things are often not what they seem in the world of ESG. It is tough to find any financial institution that doesn't say it cares about the issues and they typically back up their claims by backing initiatives such as the Principles for Responsible Investment - a pledge to incorporate ethical concerns into investment and business management policies. Yet in many cases there are various reasons to doubt their commitment.