NO.PZ2022120703000005
问题如下：
Which of the following statements about ESG integration is most accurate?选项：
A.Good ESG standards lower a company's cost of capital B.ESG performance and fund performance are positively correlated C.ESG performance and a company's stock price are negatively correlated解释：
A is correct because "the University of Oxford and asset manager Arabesque in 2014 reviewed the academic literature on sustainability and corporate performance, and found that out of the 200 studies analyzed:… 90% conclude that good ESG standards lower the cost of capital…"
B is incorrect because "in most research papers, there was a positive correlation between ESG performance and corporate financial performance, including stock prices. This provides academic evidence for the financial materiality of ESG factors. This correlation, however, does not hold for fund performance, suggesting that the asset management industry in general has not been consistently able to translate ESG analysis into alpha."
C is incorrect because "in summary, these meta studies suggest that in most research papers, there was a positive correlation between ESG performance and corporate financial performance, including stock prices."
ESG performance and fund performance are positively correlated
