Ownership of ESG characteristics

被引：0

作者：

Mark E. Bateman

Lisa R. Goldberg

机构：

[1] Aperio Group,School of Public Service

[2] LLC,Consortium for Data Analytics in Risk and Department of Economics

[3] a wholly-owned,undefined

[4] indirect subsidiary of BlackRock,undefined

[5] Inc.,undefined

[6] Old Dominion University,undefined

[7] University of California,undefined

[8] Berkeley,undefined

来源：

Journal of Asset Management | 2023年 / 24卷

关键词：

ESG; Ownership; Impact; Responsibility; Portfolio characteristics; Ethical investing;

D O I：

暂无

中图分类号：

学科分类号：

摘要：

A portfolio can be viewed as the collection of the businesses, policies and practices of constituent companies. We measure investors’ Ownership of this collection. Ownership metrics aggregate an assortment of company specific Environmental, Social and Governance (ESG) characteristics to the portfolio level, and they can inform investment and engagement decisions. Relative to a benchmark, investor Ownership is active and satisfies a zero-sum property, which underscores the distinction between Ownership and impact. Ownership of ESG characteristics may be interpreted as ascribing ethical responsibility, but that conclusion and any decisions that result from it belong to the investor.

引用

页码：534 / 540

页数：6

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