salient. Following the introduction of Morningstar’s sustainability ratings (the “globe” ratings), mutual funds increased … their holdings of sustainable stocks in an attempt to improve their globe ratings. This trading behavior created buying … pressure, decreasing the returns of stocks with high sustainability ratings. Consequently, a tradeoff between sustainability …

, supervisors and supervised entities are increasingly focusing on the consequences of environmental, social, and governance (ESG … Governance Implications: The Challenge Of Disclosure. … within the broader theme of ESG risks, this book analyzes the evolving overall regulatory framework, the climate risk …