ESG is a new trend that will become important and cannot be under-estimated at the macro, corporate and market levels. While ESG is not totally new to the country, we believe some policies need sharpening and better implementation. For this report, we have formed an ESG-friendly portfolio where we incorporate ESG scores, supported by leading ESG research firm Sustainalytics, in selecting stocks.
We believe ESG will become important for the market over the medium to long term. The positives are: 1) the market has been adjusting to the changes, as shown by underperformance of environmentally unfriendly sectors; and 2) regulators are also proactive towards the ESG trend. However, over the next 6-9 months we think the market will focus more on the Covid situation (cases and vaccinations) and economic recovery. Download Report
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