• Amanda Young appointed Senior Advisor at GEFI after departing Abrdn.
• Departure followed cost-cutting and overhaul of Abrdn’s sustainability team.
• Young aims to advance sustainable finance through GEFI’s mission.

Amanda Young, former Chief Sustainability Officer at Abrdn, has joined the Global Ethical Finance Initiative (GEFI) as a Senior Advisor. With over a decade of experience in sustainability and responsible investment, she will contribute to GEFI’s efforts in promoting sustainable finance alongside governments and financial institutions.

“GEFI is an organisation which has placed values and governance at the heart of its work. GEFI’s mission aligns with my own—to work in partnership to promote and develop a strong and principled sustainable investment ecosystem, recognising the power finance has to deliver positive societal change,” Young said.

Young’s departure from Abrdn in May occurred amid significant changes within the firm’s sustainability team, including the exit of other senior leaders like Eva Cairns, Head of Sustainability Insight and Climate Strategy. Former employees indicated that Abrdn struggled to keep pace with competitors in ESG investments, citing “relentless” cost-cutting that impacted morale and created a challenging work environment.

Financial News calculations show that Abrdn launched six ESG funds but closed seven since 2022, whereas rival Schroders launched 14 and closed four in the same period. Abrdn stated it has launched 23 funds and closed nine globally since 2022, including ETFs, model portfolios, and segregated mandates.

GEFI announced Young’s appointment in a LinkedIn post, stating she “brings invaluable experience in sustainability and responsible investment.” They highlighted her previous role on the Scottish Taskforce for Green and Sustainable Financial Services, where she contributed to shaping Scotland’s role in sustainable finance.

Young will participate in GEFI’s Festive Fireside event on 19 December at Martin Currie’s offices, where the organization will reflect on the past year and look ahead to 2025.

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