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Universal Owners and ESG: leaving money on the table?

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  • Matthew J. Kiernan

Abstract

ESG (environmental, social and governance) issues represent both a "tragedy of the commons" and a golden opportunity for a positive system change. Universal Owners should recognise both their power and their responsibilities, and then to leverage their investment strategies to catalyse ESG improvements in their investee companies. This can be done through both stock selection and direct engagement with companies. To date, unfortunately, a myriad of largely cognitive barriers have prevented Universal Owners from mobilising their considerable investment power in this way to any significant extent. There is, however, some encouraging evidence that this is beginning to change. Copyright (c) 2007 The Author; Journal compilation (c) 2007 Blackwell Publishing Ltd.

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  • Matthew J. Kiernan, 2007. "Universal Owners and ESG: leaving money on the table?," Corporate Governance: An International Review, Wiley Blackwell, vol. 15(3), pages 478-485, May.
  • Handle: RePEc:bla:corgov:v:15:y:2007:i:3:p:478-485
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    Cited by:

    1. Justyna Przychodzen & Fernando Gómez-Bezares & Wojciech Przychodzen & Mikel Larreina, 2016. "ESG Issues among Fund Managers—Factors and Motives," Sustainability, MDPI, Open Access Journal, vol. 8(10), pages 1-19, October.
    2. Arleta A Majoch & Andreas G F Hoepner & Tessa Hebb, 2014. "Sources of Stakeholder Salience in the Responsible Investment Movement: Why Do Investors Sign the Principles for Responsible Investment?," ICMA Centre Discussion Papers in Finance icma-dp2014-13, Henley Business School, Reading University.

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