RI must be integrated into investment process and is not outsources to 3d parties providers. ESG scores become more and more important. But at the same time, we acknowledge the fact that today’s quality of data is not good enough for decision-making, but can be used carefully as a monitoring tool. The data is typically static and backward-looking, without the capacity to monitor future change, which must be the purpose of responsible investments. ESG scores from different ratings providers are poorly correlated with each other. There is no common standard in ESG rating. We are concerned that there is a a lot of "greenwashing" and marketing investment producst as "sustainable", instead of focusing on developing robust analysis and risk management. F.eks. standard analysis includes carbon footprints and fossil fuel exposure, but these measures are too simplistic to analyze the complexities of climate change properly.
The most important for us is that managers are truly future-oriented, where we have to fullfill Paris agreement. ESG factors are one of many factors to consider in asset management, and the most important challenges will vary and change over time.ESG scores should be used as discussion themes, but not as steering tools.