By Carlo Maximilian Funk, EMEA Head of ESG Investment Strategy; Suzanne Smetana, ESG Investment Strategy & Research In a year dominated by the COVID-19 pandemic, there has been a renewed focus from governments and companies on the need to address climate change and other sustainability challenges. For their part, many investors are integrating ESG and climate considerations across their portfolios in response to changing attitudes and regulations. Where will all this take us? Read on for our five ESG themes for 2021 and why we see ESG emerging as the new normal. 1 ESG outlook: Europe marches forward; US, China and emerging markets