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oapen-20.500.12657-640562023-07-25T02:49:32Z Pension Funds and Sustainable Investment Hammond, Brett Maurer, Raimond Mitchell, Olivia pensions, sustainable investment, ESG, environmental risk, transition risk, political risk, institutional investors bic Book Industry Communication::K Economics, finance, business & management::KF Finance & accounting::KFF Finance::KFFP Pensions bic Book Industry Communication::K Economics, finance, business & management::KN Industry & industrial studies::KNS Service industries::KNST Financial services industry bic Book Industry Communication::K Economics, finance, business & management::KF Finance & accounting::KFF Finance::KFFM Investment & securities Since its green shoots first emerged around 50 years ago, acceptance of environmental, social, and governance (ESG) considerations in institutional investing—especially in pension funds—has evolved with distinct shifts in investor preferences. This Pension Research Council volume traces these shifts and their implications, leading up to the present day. The book notes that investors have diverse reasons for devoting attention to ESG criteria when deciding where to invest their money. Some had religious motives, such as Quakers, who focused on values; this approach can offer some risk mitigation. Nevertheless, studies that look at whether divestment actually changes behaviors of companies show that this rarely occurs. Accordingly, this book offers a variety of distinct viewpoints from numerous countries, on whether, how, and when ESG criteria should, and should not, drive pension fund investments. Authors also find that policymakers should consider fund consolidation in private sector retirement systems, along with whether service provider incentives could be better aligned with sustainability incentives. For instance, boosting transparency in these markets would help generate better-informed policies, while providing beneficiaries with information relevant to their savings choices. 2023-07-24T08:41:21Z 2023-07-24T08:41:21Z 2023 book https://library.oapen.org/handle/20.500.12657/64056 eng application/pdf Attribution-NonCommercial-NoDerivatives 4.0 International 9780192889195.pdf https://global.oup.com/academic/product/pension-funds-and-sustainable-investment-9780192889195 Oxford University Press 10.1093/oso/9780192889195.001.0001 10.1093/oso/9780192889195.001.0001 b9501915-cdee-4f2a-8030-9c0b187854b2 340b1eee-06cc-49a8-87c2-822e1d60083b 272 Oxford Wharton School, University of Pennsylvania Wharton School open access
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Since its green shoots first emerged around 50 years ago, acceptance of environmental, social, and governance (ESG) considerations in institutional investing—especially in pension funds—has evolved with distinct shifts in investor preferences. This Pension Research Council volume traces these shifts and their implications, leading up to the present day. The book notes that investors have diverse reasons for devoting attention to ESG criteria when deciding where to invest their money. Some had religious motives, such as Quakers, who focused on values; this approach can offer some risk mitigation. Nevertheless, studies that look at whether divestment actually changes behaviors of companies show that this rarely occurs. Accordingly, this book offers a variety of distinct viewpoints from numerous countries, on whether, how, and when ESG criteria should, and should not, drive pension fund investments. Authors also find that policymakers should consider fund consolidation in private sector retirement systems, along with whether service provider incentives could be better aligned with sustainability incentives. For instance, boosting transparency in these markets would help generate better-informed policies, while providing beneficiaries with information relevant to their savings choices.
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