Environment, social and governance (ESG), the flavour of the season from Tokyo to Toronto, has caught the fancy of the local mutual fund industry. At least half a dozen asset management companies – Aditya Birla, ICICI Prudential, Kotak, Invesco India, Quantum India and Mirae Asset – have introduced ESG-based fund plans since October last year and have garnered about Rs 4,900 crore assets under management (AUM). The extended Covid-19 crisis has