With more than 40 trillion dollars of funds under sustainable management, environmental, social, and governance (ESG) investing is no longer niche investing, including in emerging market (EM) sovereign debt markets. A recent J.P. Morgan survey of EM sovereign debt investors indicates that ESG factors are increasingly being used as an input into investment decisions. This is not only true for investments in sovereign debt markets but also other investments on the national and subnational level. In contrast, the ESG as output view considers an investment’s impact on broader, nonfinancial issues, such as environmental and social systems. This report argues that both views are not mutually exclusive and that investors can balance both to achieve a sweet spot. Sovereign ESG assessments should make it easier for investors to pursue traditional investment goals, while also contributing to measurable sustainable outcomes.
Details
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Author
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Document Date
2021/06/30
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Document Type
Report
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Report Number
161243
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Volume No
1
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Total Volume(s)
1
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Country
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Region
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Disclosure Date
2021/06/30
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Disclosure Status
Disclosed
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Doc Name
A New Dawn : Rethinking Sovereign ESG - Headline Messages
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Keywords
sovereign debt market; Equitable Growth, Finance & Institutions; income bias; risk management decision; privileges and immunity; capital market development; multilateral development bank; governance issue; financial system; investment goals; sustainable management; survey questions; capital flow; investment impact; traditional investment; investment objective; private institution; Financial Sector; regulatory change; Learning and Innovation Credit; financial issue; advanced economy; guiding principles; market practice; transparent framework; financial industry; social system; research department; original work; commercial purpose; sole responsibility; environmental data; copyright owner
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Citation
Gratcheva,Ekaterina M. O'Reilly Gurhy,Bryan Wang,Dieter
A New Dawn : Rethinking Sovereign ESG - Headline Messages (English). Equitable Growth, Finance and Institutions Note Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/352121625037616857/A-New-Dawn-Rethinking-Sovereign-ESG-Headline-Messages