MSCI CEO says that investors should ignore ESG factors at their 'peril.'
Fernandez said that the pace of adoption is not happening fast enough, and that the need for guidelines outlining how to approach ESG considerations has "never been greater."in assets under management worldwide and is set to keep growing as consumers call for greater action and transparency from companies. But there are issues with this type of investing, including that there's no standard way to evaluate how a company performs on these metrics.
By the end of April the company plans to make its ESG ratings available for all of its equity indicies, as well as the largest mutual funds. About half of the data that MSCI analyzes for each company comes from company reported data and filings, while the rest is from a mix of third party sources including lawsuits.
His comments come as world leaders and business executives gathered at the World Economic Forum in Davos, Switzerland. Salesforce CEO Marc Benioff, Bank of America CEO Brian Moynihan and IBM CEO Ginni Rometty were among those calling for companies to focus more heavily on sustainable finance, rather than just shareholder returns.
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