定義 / Definition
將重要的環境、社會和治理 (ESG) 因素明確且系統地納入攸關投資績效的分析和決策中，意即降低風險和/或產生（財務）回報。ESG 因素的選擇基準為其對投資或投資組合財務績效的重要性，較少以與資產擁有者相關的其它因素為基準。因此，ESG 整合或 ESG 投資的焦點通常是 ESG 議題如何影響投資或實體的績效，而非投資或實體如何影響利害關係人或永續發展成果。
The explicit and systematic inclusion of material environmental, social and governance (ESG) factors in investment analysis and investment decisions that are material to investment performance, i.e. with a view to lowering risk and/or generating (financial) returns. Typically, ESG factors are selected based on their materiality to financial performance of the investment or portfolio, and less typically based on other factors that are relevant to the asset owners. Therefore, the primary focus of ESG integration or ESG investing is typically on how ESG issues impact the performance of the investment or entity, rather than on how the investment or entity impacts Stakeholders or sustainable development outcomes.
出處 / Source
IFC. (2021). The difference between ESG and impact investing and why it matters. Medium. https://ifc-org.medium.com/the-difference-between-esg-and-impact-investing-and-why-it-matters-8bf459b3ccb6