ESG: a new dimension in portfolio allocation
Autor*in: |
De Spiegeleer, Jan [verfasserIn] Höcht, Stephan - 1981- [verfasserIn] Jakubowski, Daniel [verfasserIn] Reyners, Sofie [verfasserIn] Schoutens, Wim - 1972- [verfasserIn] |
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E-Artikel |
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Sprache: |
Englisch |
Erschienen: |
2023 |
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Übergeordnetes Werk: |
Enthalten in: Journal of sustainable finance & investment - Abingdon : Routledge, 2011, 13(2023), 2, Seite 827-867 |
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Übergeordnetes Werk: |
volume:13 ; year:2023 ; number:2 ; pages:827-867 |
Links: |
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DOI / URN: |
10.1080/20430795.2021.1923336 |
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Katalog-ID: |
1862646562 |
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10.1080/20430795.2021.1923336 doi (DE-627)1862646562 (DE-599)KXP1862646562 DE-627 ger DE-627 rda eng De Spiegeleer, Jan verfasserin (DE-588)1032786434 (DE-627)739328743 (DE-576)380286742 aut ESG: a new dimension in portfolio allocation Jan De Spiegeleer, Stephan Höcht, Daniel Jakubowski, Sofie Reyners and Wim Schoutens 2023 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier ESG (dpeaa)DE-206 ESG ratings (dpeaa)DE-206 greenhouse gas intensity (dpeaa)DE-206 investment strategies (dpeaa)DE-206 portfolio allocation (dpeaa)DE-206 Höcht, Stephan 1981- verfasserin (DE-588)140220216 (DE-627)616948530 (DE-576)315447362 aut Jakubowski, Daniel verfasserin aut Reyners, Sofie verfasserin aut Schoutens, Wim 1972- verfasserin (DE-588)117770871X (DE-627)1048864588 (DE-576)517435373 aut Enthalten in Journal of sustainable finance & investment Abingdon : Routledge, 2011 13(2023), 2, Seite 827-867 Online-Ressource (DE-627)666212783 (DE-600)2622381-8 (DE-576)427954665 2043-0809 nnns volume:13 year:2023 number:2 pages:827-867 https://www.tandfonline.com/doi/pdf/10.1080/20430795.2021.1923336 Verlag lizenzpflichtig https://doi.org/10.1080/20430795.2021.1923336 Resolving-System lizenzpflichtig GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_60 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_95 GBV_ILN_100 GBV_ILN_110 GBV_ILN_151 GBV_ILN_224 GBV_ILN_285 GBV_ILN_370 GBV_ILN_647 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2034 GBV_ILN_2055 GBV_ILN_2088 GBV_ILN_2093 GBV_ILN_2111 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_2548 GBV_ILN_4035 GBV_ILN_4046 GBV_ILN_4246 GBV_ILN_4249 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4313 GBV_ILN_4393 GBV_ILN_4700 AR 13 2023 2 827-867 26 01 0206 4385602263 x1z 12-10-23 26 00 DE-206 In this paper, we examine the impact of including environmental, social and governance (ESG) criteria in the allocation of equity portfolios. We focus on the risk and return characteristics of the resulting ESG portfolios and investment strategies. Two specific measures are considered to quantify the ESG performance of a company; the ESG rating and the greenhouse gas (GHG) emission intensity. For both measures, we carry out empirical portfolio analyses with assets in either the STOXX Europe 600 or the Russell 1000 index. The ESG rating data analysis does not provide clear-cut evidence for enhanced performance of portfolios with either high or low ESG scores. We moreover illustrate that the choice of rating agency has an impact on the performance of ESG-constrained portfolios. The analysis on GHG intensities shows that portfolios with reduced emissions do not necessarily have increased risk or diminished returns. |
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10.1080/20430795.2021.1923336 doi (DE-627)1862646562 (DE-599)KXP1862646562 DE-627 ger DE-627 rda eng De Spiegeleer, Jan verfasserin (DE-588)1032786434 (DE-627)739328743 (DE-576)380286742 aut ESG: a new dimension in portfolio allocation Jan De Spiegeleer, Stephan Höcht, Daniel Jakubowski, Sofie Reyners and Wim Schoutens 2023 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier ESG (dpeaa)DE-206 ESG ratings (dpeaa)DE-206 greenhouse gas intensity (dpeaa)DE-206 investment strategies (dpeaa)DE-206 portfolio allocation (dpeaa)DE-206 Höcht, Stephan 1981- verfasserin (DE-588)140220216 (DE-627)616948530 (DE-576)315447362 aut Jakubowski, Daniel verfasserin aut Reyners, Sofie verfasserin aut Schoutens, Wim 1972- verfasserin (DE-588)117770871X (DE-627)1048864588 (DE-576)517435373 aut Enthalten in Journal of sustainable finance & investment Abingdon : Routledge, 2011 13(2023), 2, Seite 827-867 Online-Ressource (DE-627)666212783 (DE-600)2622381-8 (DE-576)427954665 2043-0809 nnns volume:13 year:2023 number:2 pages:827-867 https://www.tandfonline.com/doi/pdf/10.1080/20430795.2021.1923336 Verlag lizenzpflichtig https://doi.org/10.1080/20430795.2021.1923336 Resolving-System lizenzpflichtig GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_60 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_95 GBV_ILN_100 GBV_ILN_110 GBV_ILN_151 GBV_ILN_224 GBV_ILN_285 GBV_ILN_370 GBV_ILN_647 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2034 GBV_ILN_2055 GBV_ILN_2088 GBV_ILN_2093 GBV_ILN_2111 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_2548 GBV_ILN_4035 GBV_ILN_4046 GBV_ILN_4246 GBV_ILN_4249 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4313 GBV_ILN_4393 GBV_ILN_4700 AR 13 2023 2 827-867 26 01 0206 4385602263 x1z 12-10-23 26 00 DE-206 In this paper, we examine the impact of including environmental, social and governance (ESG) criteria in the allocation of equity portfolios. We focus on the risk and return characteristics of the resulting ESG portfolios and investment strategies. Two specific measures are considered to quantify the ESG performance of a company; the ESG rating and the greenhouse gas (GHG) emission intensity. For both measures, we carry out empirical portfolio analyses with assets in either the STOXX Europe 600 or the Russell 1000 index. The ESG rating data analysis does not provide clear-cut evidence for enhanced performance of portfolios with either high or low ESG scores. We moreover illustrate that the choice of rating agency has an impact on the performance of ESG-constrained portfolios. The analysis on GHG intensities shows that portfolios with reduced emissions do not necessarily have increased risk or diminished returns. |
allfields_unstemmed |
10.1080/20430795.2021.1923336 doi (DE-627)1862646562 (DE-599)KXP1862646562 DE-627 ger DE-627 rda eng De Spiegeleer, Jan verfasserin (DE-588)1032786434 (DE-627)739328743 (DE-576)380286742 aut ESG: a new dimension in portfolio allocation Jan De Spiegeleer, Stephan Höcht, Daniel Jakubowski, Sofie Reyners and Wim Schoutens 2023 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier ESG (dpeaa)DE-206 ESG ratings (dpeaa)DE-206 greenhouse gas intensity (dpeaa)DE-206 investment strategies (dpeaa)DE-206 portfolio allocation (dpeaa)DE-206 Höcht, Stephan 1981- verfasserin (DE-588)140220216 (DE-627)616948530 (DE-576)315447362 aut Jakubowski, Daniel verfasserin aut Reyners, Sofie verfasserin aut Schoutens, Wim 1972- verfasserin (DE-588)117770871X (DE-627)1048864588 (DE-576)517435373 aut Enthalten in Journal of sustainable finance & investment Abingdon : Routledge, 2011 13(2023), 2, Seite 827-867 Online-Ressource (DE-627)666212783 (DE-600)2622381-8 (DE-576)427954665 2043-0809 nnns volume:13 year:2023 number:2 pages:827-867 https://www.tandfonline.com/doi/pdf/10.1080/20430795.2021.1923336 Verlag lizenzpflichtig https://doi.org/10.1080/20430795.2021.1923336 Resolving-System lizenzpflichtig GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_60 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_95 GBV_ILN_100 GBV_ILN_110 GBV_ILN_151 GBV_ILN_224 GBV_ILN_285 GBV_ILN_370 GBV_ILN_647 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2034 GBV_ILN_2055 GBV_ILN_2088 GBV_ILN_2093 GBV_ILN_2111 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_2548 GBV_ILN_4035 GBV_ILN_4046 GBV_ILN_4246 GBV_ILN_4249 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4313 GBV_ILN_4393 GBV_ILN_4700 AR 13 2023 2 827-867 26 01 0206 4385602263 x1z 12-10-23 26 00 DE-206 In this paper, we examine the impact of including environmental, social and governance (ESG) criteria in the allocation of equity portfolios. We focus on the risk and return characteristics of the resulting ESG portfolios and investment strategies. Two specific measures are considered to quantify the ESG performance of a company; the ESG rating and the greenhouse gas (GHG) emission intensity. For both measures, we carry out empirical portfolio analyses with assets in either the STOXX Europe 600 or the Russell 1000 index. The ESG rating data analysis does not provide clear-cut evidence for enhanced performance of portfolios with either high or low ESG scores. We moreover illustrate that the choice of rating agency has an impact on the performance of ESG-constrained portfolios. The analysis on GHG intensities shows that portfolios with reduced emissions do not necessarily have increased risk or diminished returns. |
allfieldsGer |
10.1080/20430795.2021.1923336 doi (DE-627)1862646562 (DE-599)KXP1862646562 DE-627 ger DE-627 rda eng De Spiegeleer, Jan verfasserin (DE-588)1032786434 (DE-627)739328743 (DE-576)380286742 aut ESG: a new dimension in portfolio allocation Jan De Spiegeleer, Stephan Höcht, Daniel Jakubowski, Sofie Reyners and Wim Schoutens 2023 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier ESG (dpeaa)DE-206 ESG ratings (dpeaa)DE-206 greenhouse gas intensity (dpeaa)DE-206 investment strategies (dpeaa)DE-206 portfolio allocation (dpeaa)DE-206 Höcht, Stephan 1981- verfasserin (DE-588)140220216 (DE-627)616948530 (DE-576)315447362 aut Jakubowski, Daniel verfasserin aut Reyners, Sofie verfasserin aut Schoutens, Wim 1972- verfasserin (DE-588)117770871X (DE-627)1048864588 (DE-576)517435373 aut Enthalten in Journal of sustainable finance & investment Abingdon : Routledge, 2011 13(2023), 2, Seite 827-867 Online-Ressource (DE-627)666212783 (DE-600)2622381-8 (DE-576)427954665 2043-0809 nnns volume:13 year:2023 number:2 pages:827-867 https://www.tandfonline.com/doi/pdf/10.1080/20430795.2021.1923336 Verlag lizenzpflichtig https://doi.org/10.1080/20430795.2021.1923336 Resolving-System lizenzpflichtig GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_60 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_95 GBV_ILN_100 GBV_ILN_110 GBV_ILN_151 GBV_ILN_224 GBV_ILN_285 GBV_ILN_370 GBV_ILN_647 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2034 GBV_ILN_2055 GBV_ILN_2088 GBV_ILN_2093 GBV_ILN_2111 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_2548 GBV_ILN_4035 GBV_ILN_4046 GBV_ILN_4246 GBV_ILN_4249 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4313 GBV_ILN_4393 GBV_ILN_4700 AR 13 2023 2 827-867 26 01 0206 4385602263 x1z 12-10-23 26 00 DE-206 In this paper, we examine the impact of including environmental, social and governance (ESG) criteria in the allocation of equity portfolios. We focus on the risk and return characteristics of the resulting ESG portfolios and investment strategies. Two specific measures are considered to quantify the ESG performance of a company; the ESG rating and the greenhouse gas (GHG) emission intensity. For both measures, we carry out empirical portfolio analyses with assets in either the STOXX Europe 600 or the Russell 1000 index. The ESG rating data analysis does not provide clear-cut evidence for enhanced performance of portfolios with either high or low ESG scores. We moreover illustrate that the choice of rating agency has an impact on the performance of ESG-constrained portfolios. The analysis on GHG intensities shows that portfolios with reduced emissions do not necessarily have increased risk or diminished returns. |
allfieldsSound |
10.1080/20430795.2021.1923336 doi (DE-627)1862646562 (DE-599)KXP1862646562 DE-627 ger DE-627 rda eng De Spiegeleer, Jan verfasserin (DE-588)1032786434 (DE-627)739328743 (DE-576)380286742 aut ESG: a new dimension in portfolio allocation Jan De Spiegeleer, Stephan Höcht, Daniel Jakubowski, Sofie Reyners and Wim Schoutens 2023 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier ESG (dpeaa)DE-206 ESG ratings (dpeaa)DE-206 greenhouse gas intensity (dpeaa)DE-206 investment strategies (dpeaa)DE-206 portfolio allocation (dpeaa)DE-206 Höcht, Stephan 1981- verfasserin (DE-588)140220216 (DE-627)616948530 (DE-576)315447362 aut Jakubowski, Daniel verfasserin aut Reyners, Sofie verfasserin aut Schoutens, Wim 1972- verfasserin (DE-588)117770871X (DE-627)1048864588 (DE-576)517435373 aut Enthalten in Journal of sustainable finance & investment Abingdon : Routledge, 2011 13(2023), 2, Seite 827-867 Online-Ressource (DE-627)666212783 (DE-600)2622381-8 (DE-576)427954665 2043-0809 nnns volume:13 year:2023 number:2 pages:827-867 https://www.tandfonline.com/doi/pdf/10.1080/20430795.2021.1923336 Verlag lizenzpflichtig https://doi.org/10.1080/20430795.2021.1923336 Resolving-System lizenzpflichtig GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_60 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_95 GBV_ILN_100 GBV_ILN_110 GBV_ILN_151 GBV_ILN_224 GBV_ILN_285 GBV_ILN_370 GBV_ILN_647 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2034 GBV_ILN_2055 GBV_ILN_2088 GBV_ILN_2093 GBV_ILN_2111 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_2548 GBV_ILN_4035 GBV_ILN_4046 GBV_ILN_4246 GBV_ILN_4249 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4313 GBV_ILN_4393 GBV_ILN_4700 AR 13 2023 2 827-867 26 01 0206 4385602263 x1z 12-10-23 26 00 DE-206 In this paper, we examine the impact of including environmental, social and governance (ESG) criteria in the allocation of equity portfolios. We focus on the risk and return characteristics of the resulting ESG portfolios and investment strategies. Two specific measures are considered to quantify the ESG performance of a company; the ESG rating and the greenhouse gas (GHG) emission intensity. For both measures, we carry out empirical portfolio analyses with assets in either the STOXX Europe 600 or the Russell 1000 index. The ESG rating data analysis does not provide clear-cut evidence for enhanced performance of portfolios with either high or low ESG scores. We moreover illustrate that the choice of rating agency has an impact on the performance of ESG-constrained portfolios. The analysis on GHG intensities shows that portfolios with reduced emissions do not necessarily have increased risk or diminished returns. |
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26 00 DE-206 In this paper, we examine the impact of including environmental, social and governance (ESG) criteria in the allocation of equity portfolios. We focus on the risk and return characteristics of the resulting ESG portfolios and investment strategies. Two specific measures are considered to quantify the ESG performance of a company; the ESG rating and the greenhouse gas (GHG) emission intensity. For both measures, we carry out empirical portfolio analyses with assets in either the STOXX Europe 600 or the Russell 1000 index. The ESG rating data analysis does not provide clear-cut evidence for enhanced performance of portfolios with either high or low ESG scores. We moreover illustrate that the choice of rating agency has an impact on the performance of ESG-constrained portfolios. The analysis on GHG intensities shows that portfolios with reduced emissions do not necessarily have increased risk or diminished returns ESG: a new dimension in portfolio allocation Jan De Spiegeleer, Stephan Höcht, Daniel Jakubowski, Sofie Reyners and Wim Schoutens ESG (dpeaa)DE-206 ESG ratings (dpeaa)DE-206 greenhouse gas intensity (dpeaa)DE-206 investment strategies (dpeaa)DE-206 portfolio allocation (dpeaa)DE-206 |
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code="u">https://doi.org/10.1080/20430795.2021.1923336</subfield><subfield code="x">Resolving-System</subfield><subfield code="z">lizenzpflichtig</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_USEFLAG_U</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_26</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ISIL_DE-206</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">SYSFLAG_1</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_KXP</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_11</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_20</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_22</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_60</subfield></datafield><datafield 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ind2=" "><subfield code="a">GBV_ILN_2093</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_2111</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_2336</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_2470</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_2507</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_2548</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4035</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4046</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4246</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4249</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4305</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4306</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4313</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4393</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4700</subfield></datafield><datafield tag="951" ind1=" " ind2=" "><subfield code="a">AR</subfield></datafield><datafield tag="952" ind1=" " ind2=" "><subfield code="d">13</subfield><subfield code="j">2023</subfield><subfield code="e">2</subfield><subfield code="h">827-867</subfield></datafield><datafield tag="980" ind1=" " ind2=" "><subfield code="2">26</subfield><subfield code="1">01</subfield><subfield code="x">0206</subfield><subfield code="b">4385602263</subfield><subfield code="y">x1z</subfield><subfield code="z">12-10-23</subfield></datafield><datafield tag="982" ind1=" " ind2=" "><subfield code="2">26</subfield><subfield code="1">00</subfield><subfield code="x">DE-206</subfield><subfield code="b">In this paper, we examine the impact of including environmental, social and governance (ESG) criteria in the allocation of equity portfolios. We focus on the risk and return characteristics of the resulting ESG portfolios and investment strategies. Two specific measures are considered to quantify the ESG performance of a company; the ESG rating and the greenhouse gas (GHG) emission intensity. For both measures, we carry out empirical portfolio analyses with assets in either the STOXX Europe 600 or the Russell 1000 index. The ESG rating data analysis does not provide clear-cut evidence for enhanced performance of portfolios with either high or low ESG scores. We moreover illustrate that the choice of rating agency has an impact on the performance of ESG-constrained portfolios. The analysis on GHG intensities shows that portfolios with reduced emissions do not necessarily have increased risk or diminished returns.</subfield></datafield></record></collection>
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7.397979 |