NO.PZ2024010507000008
问题如下：
Which of the following best describes the relationship between ESG ratings and credit ratings?选项：
A.ESG ratings and credit ratings are positively correlated.
B.The link between ESG ratings and credit ratings is still hotly debated among credit investors.
C.Surveys from credit investors suggest that the S factor remains more important than E and G factors.
解释：
B is correct. The link between ESG ratings and credit ratings is still hotly de[1]bated among investors. Proponents might point to a Barclays study looking at a high-ESG portfolio versus a low-ESG portfolio using two different ESG datasets (MSCI and Sustainalytics). The case for sustainable bond investing strengthens, but critics would point out the flaws of correlational studies and the short 2009–18 time period of the Barclays study. Critics further point out that the factor attributions after 2008–2009 (i.e., after the Global Financial Crisis) and some ESG ratings correlate with quality factors (though not all). The governance factor allows for a more obvious and direct assessment. This explains why surveys suggest that G remains a more important factor for credit investors.barclays study是什么东东
