Environmental, Social, and Governance (ESG) Investing: A Balanced Analysis of the Theory and Practice of a Sustainable Portfolio presents a balanced, thorough analysis of ESG factors as they are incorporated into the investment process. An estimated 25% of all new investments are in ESG funds, with a global total of $23 trillion and the U.S. accounting for almost $9 trillion. Many advocate the sustainability goals promoted by ESG, while others prefer to maximize returns and spend their earnings on social causes. The core problem facing those who want to promote sustainability goals is to define sustainability investing and measure its returns.
This book examines theories and their practical implications, illuminating issues that other books leave in the shadows.
- Provides a dispassionate examination of ESG investing
- Presents the historical arguments for maximizing returns and competing theories to support an ESG approach
- Reviews case studies of empirical evidence about relative returns of both traditional and ESG investment approaches
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1. Introduction: Environmental, Social and Governance (ESG) Investing 2. Socially Responsible Investing, Impact Investing, Religious Values Investing: Defining and Contrasting the Alternative Investing Styles 3. ESG at a Firm Level: Theories of the Firm 4. Fiduciaries: Making Investment Decisions for Beneficiaries 5. Overview of Financial Markets 6. Financial Markets: Equities 7. Financial Markets: Bonds 8. Shareholder Activism 9. Defining and Measuring ESG Performance 10. ESG in Managing Institutional Investor Funds 11. ESG in Managing University Endowments 12. ESG in Managing Sovereign Wealth and Government Sponsored Funds 13. ESG in Managing Family Offices 14. ESG in Religious Values Investing 15. ESG in Impact Investing 16. Conclusions and Outlook for the Future
John Hill is President and CEO of Derivatives Strategy Group. He previously served as Co-Head of Global Energy Futures at Merrill Lynch and at ABN AMRO bank and as President and CEO of Broadway Futures Group, a small independent broker. He was Senior Vice President of North American Sales for Intercontinental Exchange (ICE), one of the first electronic platforms and was a model to many more recent start-ups. During his tenure at ICE, the company grew from a small, Atlanta-headquartered private company to a public company with an IPO valued at $12 billion. It now owns and operates the NYSE, among other businesses. Mr. Hill was also Senior Vice President at ICAP, the largest interdealer broker, where his focus was developing electronic businesses and planning compliance with Dodd Frank regulations.