SHIMIZU Kazuyuki    Department   Undergraduate School  , School of Business Administration    Position   Professor
Date	2023/02/17
Presentation Theme	The dilemma between ‘comply or explain’ and SRI, ESG methodology; transitional terminology
Conference	spring 2023 semester mathematical finance， seminar series at Texas Tech University
Promoters	Texas Tech University
Conference Type	Workshop/Symposium
Presentation Type	Speech (General)
Contribution Type	Individual
Invited	Invited
Country	United States
Venue	Texas
Details	This paper tries to find out what the difference is between ESG and SRI. ESG developed from the SRI concept with “comply and explain” which was introduced in 1992, and it creates difficulties between their concepts and also can make difficulties for their methodological development. ESG and SRI had different concepts from each other before, but they mix their methodologies after this introduction. Both concepts need to be rechecked against the pure (principle) model. ESG and SRI have different investment strategy which tries to capture both financial returns and societal good. The fundamental question of this dilemma between SRI and ESG is analysed with three steps.