シミズ　カズユキ   SHIMIZU Kazuyuki   清水　一之    所属   明治大学  経営学部    職種   専任教授
発表年月日	2023/02/17
発表テーマ	The dilemma between ‘comply or explain’ and SRI, ESG methodology; transitional terminology
会議名	spring 2023 semester mathematical finance， seminar series at Texas Tech University
主催者	Texas Tech University
学会区分	研究会・シンポジウム等
発表形式	口頭（一般）
単独共同区分	単独
招待講演	招待講演
国名	アメリカ合衆国
開催地名	Texas
概要	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.