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Emerging new themes in environmental, social and governance investing: a systematic literature review
Author(s) -
Daugaard Dan
Publication year - 2020
Publication title -
accounting and finance
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.645
H-Index - 49
eISSN - 1467-629X
pISSN - 0810-5391
DOI - 10.1111/acfi.12479
Subject(s) - corporate governance , socially responsible investing , element (criminal law) , business , environmental governance , systematic review , fixed income , emerging markets , accounting , climate finance , public relations , political science , economics , finance , developing country , economic growth , medline , law , bond
Environmental, social and governance ( ESG ) investing is a large and influential industry. Its activities could be illuminated, appraised and improved by academic research. Unfortunately, research to date has focused on measuring return performance. A wider range of topics is necessary before research can properly inform investors, companies and regulators. This paper contributes to the challenge by systematically exploring the literature to reveal a richer array of topics: the heterogeneous nature of ESG investing, its costs and motivations, and its management literature origins. In addition to these established topics, five emerging themes are identified: the human element, climate change, fund flows, fixed income and the rise of non‐Western players.