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jecy8818 · 2024年03月04日

这句话怎么理解

NO.PZ2022120701000063

问题如下:

A portfolio has equal holdings of the following investments:


According to PRI’s guide to ESG Engagement for Fixed Income Investors, which investment is most likely to be highest priority for engagement?

选项:

A.Bond 1 B.Bond 2 C.Bond 3

解释:

The guide recommends prioritizing engagement with issuers that have weak ESG scores and lower credit quality Bond 1 has the lowest credit score and along with Bond 3, the lowest ESG score Issuers with low ESG scores are prioritized because there is greater scope for improvement; those with lower credit quality are prioritized because they are less able to absorb negative ESG impacts

those with lower credit quality are prioritized because they are less able to absorb negative ESG impacts

1 个答案

Carol文_品职助教 · 2024年03月05日

嗨,爱思考的PZer你好:


这句话的意思是,在环境、社会和治理(ESG)投资考量中,对那些信用质量较低的发行人进行参与和交流是更优先的事项。原因在于,相比于信用质量较高的发行人,信用质量较低的发行人更难以吸收因ESG问题带来的负面影响。换句话说,如果一个公司的环境表现不佳、社会责任感差或治理结构弱,那么它可能面临更多的风险和挑战,如罚款、法律诉讼或声誉损失等,这些都可能对其财务状况产生负面影响。对于信用评级较高的公司,它们可能有更强的财务缓冲能力来应对这些风险。而对于信用评级较低的公司,即使是小幅度的负面影响也可能加剧其财务困境,增加违约风险。因此,对这些信用质量较低的发行人进行ESG方面的参与和改善,被认为是更高优先级的活动,旨在帮助它们提高对ESG风险的抵御能力,从而改善它们的信用状况和投资吸引力。

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