NO.PZ2022120703000092
问题如下:
Which of the following statements is most accurate? Best-in-class ESG strategies:
选项:
A.demonstrate incremental gains via active ownership efforts.
B.use a similar investment approach to exclusionary screening.
C.exhibit inconsistent ESG scores across different ratings methodologies.
解释:
C is correct because "the diversity of ESG ratings methodologies and lack of ratings convergence are a key challenge these strategies positive alignment or best-in-class face. They may score highly based on the portfolio manager’s methodology but score more poorly on another set of ESG metrics used by the fund’s investor or, for instance, a fund distribution platform like Morningstar. Hence, best-in-class portfolios will be tested on transparency as well as consistency."
A is incorrect because "a common criticism for best-in-class ESG strategies is that their focus yields diminishing ESG returns with little opportunity to demonstrate incremental gains via active ownership efforts."
B is incorrect because "positive alignment or best-in-class represents, to some degree, the inverse of exclusionary screening."
active ownership effect是什么