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- Presenting author:<\/strong> Dr Sebastian Gehricke<\/strong><\/a><\/li>\n
- Co-authors:<\/strong> Mr Lachie McLean<\/strong><\/a>, Professor Ivan Diaz-Rainey<\/a><\/strong>, Dr Quyen Nguyen<\/a><\/strong>, and Dr Renzhu Zhang<\/strong><\/a><\/li>\n
- Link to the working paper:<\/strong> HERE<\/strong><\/a><\/li>\n
- 2022 NZFM event page:<\/strong> HERE<\/strong><\/a><\/li>\n<\/ul>\n
MORE ABOUT THE PAPER<\/u><\/strong><\/p>\n
The authors surveyed asset managers of global equity funds available to Australasian investors to understand how they integrate sustainable practices within the investment decision-making process. Then, the authors compared survey responses to portfolio holdings data to evaluate whether fund managers were as environmentally responsible as they claimed to be. Some highlights:<\/p>\n
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- Responsible investing was primarily driven by performance and fund flow focused value, rather than ethical values.<\/li>\n
- Climate change was the most important ESG sub-theme, followed by corporate behaviour. Interestingly, funds that placed higher importance on climate change, on average, had higher portfolio carbon intensity.<\/li>\n
- Lack of understanding of portfolio carbon intensities among fund managers: Only about half of survey respondents were able to provide portfolio-level Scope 1 & 2 emissions intensity. For those that did, there was large underreporting of emissions by some funds.<\/li>\n
- Natural capital (including biodiversity) was given low priority by managers.<\/li>\n
- Portfolio carbon intensity was significantly higher for respondents that were members of a climate initiative, and not significantly different for those that prioritised climate change themes or engaged in a decarbonisation strategy. Results were not explained by engagement or active engagement.<\/li>\n<\/ul>\n
- Co-authors:<\/strong> Mr Lachie McLean<\/strong><\/a>, Professor Ivan Diaz-Rainey<\/a><\/strong>, Dr Quyen Nguyen<\/a><\/strong>, and Dr Renzhu Zhang<\/strong><\/a><\/li>\n
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