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results for esg in
Working Knowledge
- 09 Mar 2021
- Working Paper Summaries
- Working Knowledge
Stock Price Reactions to ESG News: The Role of ESG Ratings and Disagreement
by George Serafeim and Aaron Yoon
Company performance evaluations have included sell-side analyst forecasts, recommendations, and credit ratings, but a newer set has emerged: environmental, social, and governance (ESG) ratings. This study finds that ESG ratings are useful for predicting future ESG news, but their predictive ability diminishes for firms with large disagreement between raters.
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- 13 Mar 2017
- Working Paper Summaries
- Working Knowledge
Why and How Investors Use ESG Information: Evidence from a Global Survey
by Amir Amel-Zadeh and George Serafeim
Survey data from more than 400 senior investment professionals provides insights into why and how investors use environmental, social, and governance (ESG) information as well as the challenges in using this information. This study also documents what investors believe will be important ESG styles in the future.
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- 21 Jul 2021
- Research & Ideas
- Working Knowledge
What Does an ESG Score Really Say About a Company?
by Kristen Senz
A key gauge in the $30 trillion sustainable investment market provides a murky picture of corporate social responsibility. Research by Anywhere Sikochi and George Serafeim probes the underlying factors.
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- 16 Feb 2023
- HBS Case
- Working Knowledge
ESG Activists Met the Moment at ExxonMobil, But Did They Succeed?
by Lane Lambert
Engine No. 1, a small hedge fund on a mission to confront climate change, managed to do the impossible: Get dissident members on ExxonMobil's board. But lasting social impact has proved more elusive. Case studies by Mark Kramer, Shawn Cole, and Vikram Gandhi look at...
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- 13 Jan 2023
- Research & Ideas
- Working Knowledge
Are Companies Actually Greener—or Are They All Talk?
by Rachel Layne
More companies than ever use ESG reports to showcase their social consciousness. But are these disclosures meaningful or just marketing? Research by Ethan Rouen delves into the murky world of voluntary reporting and offers advice for investors.
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- 23 Mar 2023
- Research & Ideas
- Working Knowledge
As Climate Fears Mount, More Investors Turn to 'ESG' Funds Despite Few Rules
by Rachel Layne
Regulations and ratings remain murky, but that's not deterring climate-conscious investors from paying more for funds with an ESG label. Research by Mark Egan and Malcolm Baker sizes up the premium these funds command. Is it time for more standards in impact investing?
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- 09 Aug 2016
- Working Paper Summaries
- Working Knowledge
Shareholder Activism on Sustainability Issues
by Jody Grewal, George Serafeim, and Aaron Yoon
Shareholder proposals on environmental, social, and governance (ESG) topics have more than doubled in the last two decades. Testing the effect that ESG proposals have on firms’ subsequent ESG performance and market valuation, the authors find a considerable portion (42 percent) of ESG proposals to...
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- 20 Sep 2022
- Cold Call Podcast
- Working Knowledge
Larry Fink at BlackRock: Linking Purpose to Profit
Re: George Serafeim
...investors play in urging business leaders to take environmental, social, and governance issues more seriously and enforcing compliance? Harvard Business School professor George Serafeim discusses the merits of Fink’s approach, the importance of corporate investments in ESG themes, and how to lead a company driven by purpose and profit in his case, “BlackRock: Linking Purpose to Profit,” and his new book Purpose and Profit: How Business Can Lift Up The World.
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- 23 Aug 2016
- First Look
- Working Knowledge
August 23, 2016
Sean Silverthorne
...co-authors set the record straight on this and other misconceptions around sustainable investing in the paper ESG Integration in Investment Management: Myths and Realities. Can a great customer service company clone itself? The case study Hillside Beach Club: Delivering the Ultimate Family Vacation in...
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- 23 Jan 2023
- Research & Ideas
- Working Knowledge
After High-Profile Failures, Can Investors Still Trust Credit Ratings?
by Ben Rand
rating agencies’ strategic behavior incentivized by the issuer-pay model,” the study concludes. You Might Also Like: What Does an ESG Score Really Say About a Company? Stock Price Reactions to ESG News: The Role of ESG Ratings and Disagreement Corporate Leadership and Creditor Recovery Rates: Evidence from Executive Gender Feedback or ideas to share? Email the Working Knowledge team at hbswk@hbs.edu. Image: iStockphoto/CHUNYIP WONG
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- 20 Mar 2012
- First Look
- Working Knowledge
First Look: March 20
Sean Silverthorne
Pakistan's largest city. The learning objective is to introduce the challenges of dealing with private equity in emerging markets and of integrating ESG (environmental, social, and governance) goals into an investment program. "Is this the direction for private equity in the future?" ask authors Josh...
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- 12 Mar 2024
- HBS Case
- Working Knowledge
How Used Products Can Unlock New Markets: Lessons from Apple's Refurbished iPhones
by Rachel Layne
The idea of reselling old smartphones might have seemed risky for a company known for high-end devices, but refurbished products have become a major profit stream for Apple and an environmental victory. George Serafeim examines Apple's circular model in a case study,...
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- 17 Jan 2024
- Research & Ideas
- Working Knowledge
Are Companies Getting Away with 'Cheap Talk' on Climate Goals?
by Tim Gray
Many companies set emissions targets with great fanfare—and never meet them, says research by Shirley Lu and colleagues. But what if investors held businesses accountable for achieving their climate plans?
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- 21 Oct 2011
- Working Paper Summaries
- Working Knowledge
Market Interest in Nonfinancial Information
by Robert G. Eccles, Michael P. Krzus & George Serafeim
...insights into market interest in nonfinancial information at a level of granularity not available until now. They identify exactly what information is of greatest interest, contrasting both the global and U.S. market across the full spectrum of ESG information and for each component of ESG, as well as...
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- 12 Sep 2023
- What Do You Think?
- Working Knowledge
Who Gets the Loudest Voice in DEI Decisions?
by James Heskett
social, and governance issues at the heart of so-called “stakeholder capitalism.” Corporations that become too visible in support of stakeholder capitalism run the risk of losing public investors, such as pension funds in states in which ESG runs afoul of current political thinking. Within the S and G
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- 04 Apr 2023
- Book
- Working Knowledge
Two Centuries of Business Leaders Who Took a Stand on Social Issues
by Lane Lambert
Executives going back to George Cadbury and J. N. Tata have been trying to improve life for their workers and communities, according to the book Deeply Responsible Business: A Global History of Values-Driven Leadership by Geoffrey Jones. He highlights three practices...
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- 09 Jan 2024
- Research & Ideas
- Working Knowledge
Could Clean Hydrogen Become Affordable at Scale by 2030?
by Desmond Dodd
The cost to produce hydrogen could approach the $1-per-kilogram target set by US regulators by 2030, helping this cleaner energy source compete with fossil fuels, says research by Gunther Glenk and colleagues. But planned global investments in hydrogen production would...
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- 01 Mar 2023
- What Do You Think?
- Working Knowledge
How Much Does 'Deep Purpose' Matter to the Bottom Line?
by James Heskett
importance for a concept that inevitably will become confused with other developments in management. For example, how will answers to that question be clouded by the political debate surrounding the importance of ESG (environment, social, and governance) and investments in organizations professing
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- 03 Dec 2018
- Research & Ideas
- Working Knowledge
How Companies Can Increase Market Rewards for Sustainability Efforts
by Rachel Layne
There is a connection between public sentiment about a company and how the market rewards its corporate social performance, according to George Serafeim. Is your company undervalued?
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- 16 Feb 2021
- Research & Ideas
- Working Knowledge
To Fight Climate Change, Should Green Investors Reconsider Big Oil?
by Kristen Senz
allocated to sustainable funds that invest in companies with specific environmental, social, and governance (ESG) factors and goals. Since 2015, when the US Department of Labor began allowing pension fund managers to incorporate ESG scores into their investment decisions, the volume of assets under
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