International wealth manager deVere is offering free advice to clients on socially responsible investing as it seeks to move more clients towards ESG investments.

The firm said it aims to have $1bn (£740m) of client money invested in environment, social and governance (ESG) investments within five years.

It said the move is "the first ESG campaign of many to come throughout 2021."

deVere Group CEO Nigel Green is a "long-time ESG advocate" and believes that "their core values are ones to which we should all be showing commitment".

Last June deVere said that 26% of its clients around the world were either looking at exposure to or were already invested in ESG investments. The firm said it expects the move towards ESG to continue as research suggested millennials were more likely to seek responsible investment options.

The firm said 56% of investors already engaged in ESG did so believing they were a safe-haven in times of volatility in traditional markets.

Mr Green said: “ESG is one of the megatrends of this decade. It was heading slowly this way before, but the pandemic has acted as a catalyst. The health of our planet and how it affects human health which, in turn, affects the way we all live and work, has come dramatically into the fore.

“Whilst ESG highlights values, it’s also about profits, with environmentally and socially responsible funds continuing to out-perform the market and offer lower volatility.

“We believe this is an especially important initiative right now as ESG moves ever more into the mainstream. However, there are still investors who regard such investments as a ‘quirk’ or ‘nice to have’ rather than a legitimate portfolio diversification tool that delivers profits with purpose.

“Data underscores the financial reward-making abilities of ESG investments and their core values are ones to which we should all be showing commitment.

“By offering free advice we will be removing any potential barrier in considering ESG by potential investors and we aim to position $1bn in environmental, social and governance investments within five years.

“We hope we’ll be able to assist our clients in fulfilling their environmental goals by investing in companies that will reduce carbon, and investing in those that prioritise employees' rights, consumer protections, board diversity and corporate transparency and stakeholder accountability, whilst simultaneously receiving good returns.”