We do not believe that short-term financial performance currently accurately reflects the benefits of considering ESG issues, so we do not measure it separately from other investment factors. ESG research adds value from the perspective of gaining a greater appreciation of the risks, which may materialise in the medium- to long-term and the key question is how to apply this to gain the greatest value for our clients.
For some clients we do work on providing ESG profile of their portfolios. This can include exposure to our ESG 8-factor trend scores, carbon intensity of portfolio and other metrics tailored to client requirements. It is still at an early stage and we will seek to expand and fine tune our ESG reporting over time.