Responsible Investment

The ECGI Responsible Investment Programme builds on the fact that responsible investment is transforming the international asset management industry. It explores whether and how investors can influence the ESG conduct of firms and what the specific challenges are for them to do so. Recent studies explore topics such as the motivations of responsible investors, the real impact of responsible investing strategies on firms’ ESG policies, ESG disclosure, and investors’ engagement, among others.

In 2005, the then United Nations Secretary-General Kofi Annan initiated the development of Principles for Responsible Investment. Since the Principles were published in 2006 the number of signatories has grown from 63 to 3038 in 2020, representing a combined 103 $US trillion under management. Responsible investment comprises the incorporation of ESG issues into portfolios and active ownership (stewardship) that seeks to improve portfolio companies’ ESG performance.[1] The ECGI Responsible Investment Programme will tackle questions such as: what are the motivations of investors to adopt responsible investment strategies? Are certain investment strategies more efficient than others at delivering sustainable impact and/or financial performance? Finally, do investors really walk the ESG talk? If not, how can we identify those that engage in greenwashing and assess and mitigate greenwashing related externalities for our economies, societies, and the natural environment?

This programme is directed by Caroline Flammer (Professor of International and Public Affairs, Columbia University) and chaired by Rajna Gibson Brandon (Professor of Finance at the University of Geneva; Founder, Geneva Finance Research Institute). Caroline Flammer also serves as the Chair of the Academic Advisory Committee of the United Nations’ Principles for Responsible Investment.

[1] https://www.unpri.org/an-introduction-to-responsible-investment/what-is…;