(Bloomberg) -- Hedge fund boss Chris Hohn slammed ESG fund managers who claim they’re forcing companies to pollute less through so-called engagement strategies. 

Speaking at the Bloomberg Intelligence ESG Investment Forum in London, the chief executive of TCI Fund Management said “there’s obviously a collective failure happening” in the ESG investing world, where engagement strategies are rising in popularity.

“We should stop pretending and just be honest,” Hohn said. “The acid test is actual emissions, are they falling or are they rising? And they’re rising. And that’s where the rubber hits the road.”

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