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cynthia · 2024年03月24日

为什么不是3

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

3的信用评级高,但esg评分低,当esg暴雷的时候3的损失是更大的。

1的信用评级低,esg评分也低,减少投入就好啊。

2 个答案
已采纳答案

Carol文_品职助教 · 2024年03月26日

嗨,从没放弃的小努力你好:


要注意的是engagement是投资后的行为,且持有的三种债券金额是一样的,这意味着我们的投资组合是多样化的,旨在平衡风险和回报。在这种多元化的框架下,在投资之前,很可能不是简单地基于单一指标(如信用评级或ESG评分)做出投资决策。但是投资之后,想要撤资或者调整投资比例是不太可能的,因为会受到投资合同的约束。此时,积极参与和沟通成为我们风险管理策略的核心部分,通过与这类发行方的积极参与,我们仍然可以寻求促进其在ESG方面的改进,旨在实现长期的、可持续的回报,同时促进我们投资的公司在财务和非财务方面的整体健康和表现。



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虽然现在很辛苦,但努力过的感觉真的很好,加油!

Carol文_品职助教 · 2024年03月25日

嗨,从没放弃的小努力你好:


学员,你好。

这道题的意思是哪个债务最需要engagement,也就是最需要投资者关注、介入和接触。

指南建议优先与ESG得分较低、信用质量较低的发行人接触。债券1的信用评分最低,1和3的ESG评分最低。那些信贷质量较低的人被优先考虑,因为他们吸收ESG负面影响的能力较弱;ESG得分较低的发行人被优先考虑,因为有更大的改进空间。

具体内容在第六章讲义的第64页。

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努力的时光都是限量版,加油!

cynthia · 2024年03月26日

理解但感觉不是特别认可

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