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Legitimacy and the extraordinary growth of ESG measures and metrics in the global investment management industry.

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Title: Legitimacy and the extraordinary growth of ESG measures and metrics in the global investment management industry.
Authors: Clark, Gordon L1 (AUTHOR), Dixon, Adam D2 (AUTHOR) a.dixon@hw.ac.uk
Source: Environment & Planning A. Mar2024, Vol. 56 Issue 2, p645-661. 17p.
Subjects: Standard & Poor's Financial Services LLC, Investment management, Asset management, Value creation, Sustainable investing
Abstract: ESG metrics are increasingly important in the global investment management industry. Why this came to pass given the limited appetite for responsible investing in the industry is the subject of this paper. Although the business case for ESG provides an explanation for its increasing uptake whereby market actors are increasingly convinced of the merits of ESG as a profit centre, this explanation is insufficient. By contrast, the adoption the ESG programme offers a means of rewriting the terms of risk management and value creation that while grounded in the business case also serve to address challenges to the legitimacy of the global asset management industry. These developments are illustrated in a case study of the establishment and growth of TruCost and its purchase by S&P Global in 2016. [ABSTRACT FROM AUTHOR]
Copyright of Environment & Planning A is the property of Sage Publications Inc. and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
Database: Engineering Source
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  Data: Legitimacy and the extraordinary growth of ESG measures and metrics in the global investment management industry.
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  Data: ESG metrics are increasingly important in the global investment management industry. Why this came to pass given the limited appetite for responsible investing in the industry is the subject of this paper. Although the business case for ESG provides an explanation for its increasing uptake whereby market actors are increasingly convinced of the merits of ESG as a profit centre, this explanation is insufficient. By contrast, the adoption the ESG programme offers a means of rewriting the terms of risk management and value creation that while grounded in the business case also serve to address challenges to the legitimacy of the global asset management industry. These developments are illustrated in a case study of the establishment and growth of TruCost and its purchase by S&P Global in 2016. [ABSTRACT FROM AUTHOR]
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  Data: <i>Copyright of Environment & Planning A is the property of Sage Publications Inc. and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract.</i> (Copyright applies to all Abstracts.)
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        Value: 10.1177/0308518X231155484
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        Text: English
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      – SubjectFull: Investment management
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      – SubjectFull: Value creation
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      – TitleFull: Legitimacy and the extraordinary growth of ESG measures and metrics in the global investment management industry.
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              Text: Mar2024
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