The Case for Integrating ESG into Fixed-Income Portfolios
研究了将ESG因素纳入固定收益投资组合的潜在好处，发现对回报影响不大，但可能降低尾部风险。
In this article we investigate the possible benefits of integrating ESG considerations into fixed-income portfolios. Our initial results indicated that such considerations could have a significant impact on portfolio returns. Our more formal use of regression analysis demonstrated that the impact on returns was negligible. The authors did find tentative evidence, however, to suggest that enhancing the ESG credentials of a portfolio can lead to a reduction in a portfolio’s tail risk.