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Denmark’s PFA says sustainable investment does not harm returns

first_imgChoi Danielsen said since index provider MSCI launched the ESG Leaders version of its All-Country World Index, the return difference between the ESG-filtered and standard indices had grown to around 20 percentage points in favour of the ESG Leaders.However, stripping out emerging markets from both indices would trim that return premium to just 0.5 percentage points, she said.In emerging markets, Choi Danielsen explained, a high ESG score resulted in a wider return advantage than it did in developed markets, partly because of the greater variation in ESG development which existed in the corporate scenes of emerging markets.The PFA chief strategist said the coronavirus crisis had shifted some of the focus within ESG to social and governance factors, as opposed to the environment factor – which had received most attention before the outbreak.“This is because in times of adversity and when future prospects are uncertain – which has been the case in recent months – the gaze increasingly falls on executive management,” she said.“In this way, the spread of the coronavirus may have contributed to an even greater interest in sustainable investments,” she said.Since COVID-19 hit Italy in late February, Choi Danielsen said the Europe ESG Leaders index had fallen 11.5%, while the standard MSCI Europe index was down 17%.“Companies’ ability to deal with environmental concerns, social responsibility and management must be regarded as important parameters when it comes to achieving success in times of crisis,” she said.This development had also been supported by the fact that the EU’s upcoming recovery fund was expected to have a climate focus, she said.PFA has recently launched its new PFA Climate Plus pension product, which is based on climate-friendly investments. The chief strategist of DKK688bn (€92bn) Danish pension fund PFA has set out a series of arguments to show that investing sustainably does not jeopardise returns, and said firms with top environmental, social, and governance (ESG) credentials outperformed in the worst of the COVID-19 crisis.Tine Choi Danielsen, chief strategist at the Nordic country’s second-biggest pension provider, said:  “If you look at the development, there is no doubt that sustainable and responsible companies have performed at least as well as the remaining in the stock market – and in some periods even noticeably better.”She said history, the fund’s own experience and societal trends showed returns on investments were not compromised when investing responsibly and sustainably.In the coronavirus crisis, companies with high environmental, social and governance (ESG) standards outperformed the overall market, and in emerging markets in particular, sustainable companies had returned more than the index over the last few years, she said in a commentary on the commercial mutual provider’s website.last_img read more


Corey Knebel injury update: Brewers reliever’s elbow woes could open door for Craig Kimbrel

first_imgThe Brewers are worried about Corey Knebel’s elbow.That is known for two reasons: for one, manager Craig Counsell told reporters “there is reason for concern,” and second, Milwaukee has “serious interest” in free agent reliever Craig Kimbrel, according to Fancred Sports. Corey Knebel will have his elbow examined by Dr. William Raasch today in Arizona.“There is reason for concern,” manager Craig Counsell said.— Robert Murray (@ByRobertMurray) March 21, 2019Brewers talks with Craig Kimbrel are pretty serious I hear. They already had the best pen last year, so this would be strengthening a strength @ken_rand @ByRobertMurray 1st mentioned— Jon Heyman (@JonHeyman) March 20, 2019Knebel has not pitched since March 17 and will have his elbow examined by Dr. William Raasch in Arizona on Thursday. The Brewers’ interest in Kimbrel has become apparent in recent days, but it didn’t make a ton of sense considering Milwaukee ranked in the top five in almost every category that mattered last year in bullpen numbers.But if Knebel is out for an extended period of time, Kimbrel would not only provide a great replacement this year, but he would also be good for a couple or three years down the road if Knebel doesn’t recover quickly or even sufficiently. MLB hot stove: Brewers seriously interested in Craig Kimbrel, report says Kimbrel remains available on the open market despite ranking 14th all time with 333 career saves. The righty reportedly was asking for a six-year, $100 million deal this offseason, but that has not been confirmed. Related Newslast_img read more