ESG投资的内涵、分类及标准研究｜资本市场

Core Viewpoint - The article emphasizes the urgent challenges of global sustainable development and the increasing need for investment in ESG (Environmental, Social, and Governance) strategies, highlighting the necessity for deeper research into the definitions and classifications of ESG investments [1]. ESG Investment Definition - ESG investment is defined globally as an investment approach that incorporates social, environmental, and governance factors into decision-making processes, with various organizations providing similar yet distinct definitions [3][4]. - In China, ESG investment is recognized as a long-term investment philosophy that considers not only financial performance but also social responsibility and ESG performance [3]. ESG Investment Characteristics - ESG investment is characterized by its long-term focus, non-negative impact, purpose-driven nature, and the expectation of financial returns while balancing social and environmental benefits [8][9][10]. ESG Investment Classification - There are three main classifications of ESG investments: strategy-based classification, third-party institutional classification, and regulatory-driven classification [12]. - As of the end of 2021, the total ESG investment scale in six countries reached $16.27 trillion, with various strategies like impact investing and negative screening being prominent [13]. ESG Investment Standards - The establishment of ESG investment certification systems in various countries aims to promote ESG investments by providing clear standards and labels for compliant products [22]. - The French Socially Responsible Investment label serves as an example, requiring funds to meet specific ESG criteria and demonstrate their ESG performance [22][23]. Issues and Recommendations - The article identifies several issues in ESG investment, including the lack of standardized terminology, the risk of "greenwashing," insufficient positive impacts, and the comparability of international standards [28]. - Recommendations include enhancing understanding of ESG concepts, optimizing ESG investment classifications and standards, and strengthening the effectiveness of ESG investments through better alignment with sustainable development goals [29][30].