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A panel of experts at the Fortune Most Powerful Women International conference in Montreal, Canada recently discussed the challenges in investing in environmentally and socially responsible companies.
One of the panelists, Amy Oldenberg, COO of Emerging Market Equity for Morgan Stanley, stated that there is little data standardization in the fast-growing field and that more than half of companies currently lack ESG (Environment, Social and Governance) factors.
Nili Gilbert, co-founder of New York-based investment firm Matarin Capital, pointed out that the lack of standardization of ESG ratings and data sets overwhelm investors and companies, adding that the "cacophony of measurement" has become a main reason many dismiss it.
Many longtime investors even consider ESG as a marketing scam, Oldenberg added.
Heather Loomis Tighe, managing director at BlackRock, uses the term "sustainable investing" instead of ESG. According to Tighe, companies that are environmentally and socially responsible perform better in the long term.
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