A top-down engagement style most likely:
A. aligns more closely with active rather than passive portfolios.
B. involves discussions with the boards of individual companies.
C. focuses on environmental and social issues rather than governance issues.
这是2023年的mock题，答案是C，说自上而下一般包括E和S，一般用于被动型投资策略，自下而上一般用于治理(G)为主导的公司，用于主动型投资策略。
我无法理解B选项，说B不对的原因是"teams tend to focus on individual environmental and social issues and to pursue those vigorously across sectors or markets as a whole...[while] firms with governance heritage tend to focus on individual companies, starting with the chair...and working through the board...these are generalisations but they illustrate the distinction between top-down and bottom-up activity."
为什么关注单个公司就是自下而上了呢？
