| Sovereign wealth funds are increasingly screening their portfolios based on so-called social criteria. Does that hurt returns? Does it change corporate behavior? And does that matter? As sovereign wealth fund assets surge, more investments are being screened for so-called environmental, social and governance (ESG) criteria. Norges Bank Investment Management (NBIM), which oversees Norway’s $861 billion.
Government Pension Fund Global announced just last month that in 2014 it had divested stakes in 49 companies, which it did not name, based upon ESG considerations, bringing the number of companies it has dumped in the past three years to 114...............................................Full Article: Source
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