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Home Economy

ESG (Environment, Social and Governance) Funds

December 25, 2021
in Economy
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ESG (Environment, Social and Governance) Funds
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In news- The asset size of ESG funds has ballooned nearly five times to Rs 12,300 crore over the last couple of years.

About ESG funds-

  • ESG funds are those funds whose asset allocation mostly includes shares and bonds of companies that are evaluated based on the factors of environmental, social, and governance.
  • ESG funds are suitable for those that are looking to invest in companies that are sustainable and conscious about the environment. 
  • The term ESG investing is used synonymously with sustainable and socially responsible investing. 
  • While selecting a stock for investment, an ESG fund shortlists companies that score high on environment, social responsibility, and corporate governance, and then looks at financial factors.
  • Recently, the National Stock Exchange (NSE) launched NSE Prime, a framework that allows companies to submit to standards of corporate governance that are higher than those required by existing regulations. 
  • Most top fund houses, including SBI Magnum Equity, Aditya Birla Sun Life, ICICI Prudential, Quantum India, Kotak Mutual Fund, and Axis Mutual Fund offer ESG investment opportunities. Because this is a niche area, the fund houses have set the expense ratio of their ESG funds in the higher range.
  • ESG funds use parameters such as greenhouse gas and carbon emissions, and employment generated to assess the ESG impact of the companies. 
  • Thus, companies with higher carbon outputs such as tobacco manufacturers, coal miners, oil and gas companies, and fossil fuel-based power generators typically do not feature in ESG fund portfolios. 
  • On the other hand, companies in the technology, renewable energy, healthcare, and FMCG space feature heavily in these portfolios.
  • However, the area of concern is “greenwashing”, understood as an act of conveying a “false impression or providing misleading information about how a company’s products are more environmentally sound”.
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Source: The Indian Express
Tags: News PaperPrelims

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