Pension funds worth more than $2,000bn will commit themselves on Thursday to the first global charter placing environmental, social and governance (ESG) standards at the core of their investment strategies.

The 32 funds from six continents include some of the world’s largest long-term investors and represent more money than all hedge funds and private equity groups combined. They will sign six “Principles for Responsible Investment”, founded on the belief that such standards are material to assets’ long-term value.