It was interesting to see two stories this morning of activity at different ends of the ESG spectrum.

At one end - where financers reduce exposure to certain activities which are seen as harmful, HSBC's board has tabled a special resolution to "commit HSBC to phasing out financing for coal-fired power and thermal coal mining across the EU and OECD by 2030, and across the world by 2040." 

Meanwhile at the other end - where investors actively seek out projects which will have a positive impact over and above the straight commercial return - Singapore's state-backed investment company Temasek has committed US$500m to the impact investment manager Leapfrog Investments. The FT reports that this is the largest ever single commitment to a specialist impact investment manager - see here.

I would encourage anyone wanting to learn more about the future of social impact investing - which increasingly looks like being a large part of the future of investing for us all - to visit Temasek's website. It makes for fascinating reading. There is much to learn here about how to create a vision and purpose, starting with the guiding values set out in Temasek's charter - see more here. Many a family constitution would do well to look like this.

For wealthy families and those who advise them on their affairs - family offices, bankers, investment managers, trustees, lawyers, accountants, and many others - it provides a valuable insight into where much of the world seems to be heading. 

But specifically for those advisers that help families on succession planning and inter-generational transfers of wealth, which require as much forward-looking as is possible, it should be at the top of any reading list.