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  • 2023
  • Working Paper
  • HBS Working Paper Series

ESG: From Process to Product

By: George Serafeim
  • Format:Print
  • | Language:English
  • | Pages:22
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Abstract

ESG measurement, analysis, management, and communication is a process that the financial industry has turned into a product, resulting in many investment funds using the ESG label. This has caused confusion, generating demand for a framework that defines the objectives and characteristics of ESG investment products. The main objective is to intentionally allocate capital and influence investees with measurable financial, environmental and/or social outcomes. The key characteristics are those of intentionality and measurability with the additional characteristics of materiality and additionality serving to enhance their overall significance.

Keywords

ESG; ESG (Environmental, Social, Governance) Performance; ESG Ratings; ESG Reporting; Investment Fund; Investment; Corporate Social Responsibility and Impact; Financial Services Industry

Citation

Serafeim, George. "ESG: From Process to Product." Harvard Business School Working Paper, No. 23-069, May 2023.
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About The Author

George Serafeim

Accounting and Management
→More Publications

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    Climate Solutions, Transition Risk, and Stock Returns

    By: Shirley Lu, Edward J. Riedl, Simon Xu and George Serafeim
More from the Author
  • Vytal: Packaging-as-a-Service By: George Serafeim, Michael W. Toffel and Stacy Straaberg
  • Northvolt: Building Batteries to Fight Climate Change (B) By: George Serafeim, Debora L. Spar, Peter Tufano, Hugo Etchegoyhen and Emilie Billaud
  • Climate Solutions, Transition Risk, and Stock Returns By: Shirley Lu, Edward J. Riedl, Simon Xu and George Serafeim
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