ESG Takes Center Stage

“If there’s an environmental problem or labor and governance issues in the past, the lawyers and accountants always focused on the downside. What we’re trying to do is find the upside opportunity,” says Morgan, adding that one of his portfolio companies is one of the few competitors in its sector that recycles materials. While most believe in that particular industry that recycling is a disadvantage because of the cost, the investment has “turned out to be a fabulous business and investment for Argand,” says Morgan. “Putting an optimistic view on what can be done with the business, that’s where private equity should go.”