Piyush Gupta, group chief executive of Singapore’s DBS bank, has said a tsunami of money is flowing into ESG assets.

Speaking at CNBC’s Evolve Global Summit, Gupta said that whether ESG is just a trend or a long-term strategy, it is still likely to see good returns and that a tsunami of money is flowing into ESG related assets. This is because a basket of ESG stocks includes many high performing companies and because so much money is going into them.

He added that private and institutional investors are now starting to be intentional about choosing investments that are socially responsible or that promote environmental sustainability.