Environmental, social and governance (ESG) is a term heard frequently throughout the alternative assets world, and nowhere more so than in the real assets space: more than three-quarters of infrastructure and natural resources fund managers that Preqin surveyed have an active ESG investment policy. At the other end of the ESG spectrum, two-thirds of hedge fund managers do not have a policy in place and have no plans to implement one in the near future. Here, we take a closer look at the importance of ESG to each alternative asset class.