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Investment Forum 投资论坛 加中金融

2.3 投资组合的回报 2.3 Portfolio returns
投资经理经常将长期出色的财务表现视为支持 ESG 投资的 Long-term financial outperformance is often cited by
主要动机之一。 investment managers as one of the primary motivators for
embracing ESG investing
学术和投资者研究表明，将 ESG 投资理念纳入投资决策过 Academic and investor research has demonstrated that
程可产生与其他投资方法一样有效的市场回报率，并且一 incorporating ESG factors in the investment decision-making
些研究还表明，它具有改善长期风险调整后回报的潜力 process produces market-rate returns as effectively as other
（请参阅绩效部分以获取有关此主题的更多详细信息）。 investment approaches and some research suggests that it has
以上的研究以及其他所描述的驱动因素，都为采用 ESG 投 the potential to improve long-term, risk adjusted returns (see the
资策略提供了强而有力的支持。 Performance section below for more detail on this topic). This
evidence, along with the other motivations described here, has
2.4 客户需求 provided a strong incentive to adopt ESG investment strategies.

人口结构的变化进一步推动了财富所有者的构成。 目前， 2.4 Client demand
女性和00后掌握着更多的财富。据调查数据表明，女性比 Demographic shifts are further driving the demand for as the
男性投资者，00 后比老年投资者更有可能将 ESG 理念视 profile of wealth-holders changes. More wealth is now in the
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为自身投资的重要组成部分 。 hands of women and millennials, and survey data suggest that
women are more likely than men and millennials are more
3. ESG 投资的市场空间
likely than older investors to view ESG as an essential
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3.1 ESG 市场的规模 component of their own investments .
3. Size of the ESG Market
ESG 越来越被接受的主要指标之一是查看联合国赞助的
《负责任投资原则》（PRI）的签署方数量。 签署人遵守 One of the main indicators of the increasing acceptance of ESG
PRI 责任投资的六项原则，并要求每年就其与每项原则相 is looking at the signatories to the UN sponsored Principles of
关的活动进行报告。 PRI 于 2016 年启动，有 63 个签署国 Responsible Investing (PRI). Signatories commit to the PRI’s
管理着6万亿美元的资产。 截至2019年底，PRI拥有2,372 six principles of responsible investing and are required to report
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个签署者，管理资产达 86.3 万亿美元 。 annually on their activities in relation to each principle. The PRI
was launched in 2016 with 63 signatories with $US 6 trillion in
assets under management. At the end of 2019, the PRI had
2,372 signatories with $US 86.3 trillion in assets under
management .
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PRI 签署者增长（图表）

1 《福布斯》(2018 年 7 月 5 日)。 人口趋势正在推动 ESG 3 Forbes (July 5, 2018). Demographic Trends Are Driving
投资的需求——行业也开始适应这一趋势。 Demand For Impact Investment - And The Industry Is Starting
2 PRI : 责任投资原则 To Adapt
4 Principles for Responsible Investment. About the PRI
CCFA JOURNAL OF FINANCE MARCH 2021
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