{"id":46488,"date":"2022-12-13T14:28:41","date_gmt":"2022-12-13T19:28:41","guid":{"rendered":"https:\/\/www.bloomberg.com\/professional\/insights\/sustainable-finance\/esgs-real-problem-is-a-lack-of-data-fixed-income-pros-say\/"},"modified":"2024-04-24T15:19:08","modified_gmt":"2024-04-24T19:19:08","slug":"esgs-real-problem-is-a-lack-of-data-fixed-income-pros-say","status":"publish","type":[3762],"link":"https:\/\/www.bloomberg.com\/professional\/insights\/sustainable-finance\/esgs-real-problem-is-a-lack-of-data-fixed-income-pros-say\/","title":{"rendered":"ESG\u2019s real problem is a lack of data, fixed-income pros say"},"content":{"rendered":"<div  class=\"bbg-row-container\">\n    <style>section[data-anchor=row-6a071719adea5]::before {\n\t\t\t\tbackground-color: #eeeeee;\n\t\t\t}<\/style>\n    <section class=\"bbg-row bg--custom-color  bg--eeeeee text--black bbg-row--full-bg-bleed\" data-anchor='row-6a071719adea5'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8 bbg-column--valign-bottom\"\n    style=\"\"\n    >\n    <p>    <ul class=\"bbg-categories_list\">\n                    <li>\n                <a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/category\/data\/\" rel=\"category tag\">\n                    Data\n                <\/a>\n            <\/li>\n                    <li>\n                <a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/category\/sustainable-finance\/\" rel=\"category tag\">\n                    Sustainable Finance\n                <\/a>\n            <\/li>\n            <\/ul>\n<div\n    class=\"bbg-spacer\"\n        style=\"height: 24px !important\"\n    >\n<\/div>    <h1 class=\"bbg-metadata bbg-metadata--title\">ESG\u2019s real problem is a lack of data, fixed-income pros say<\/h1>\n<\/p>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-compact row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6a071719b32e7'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <p><div\n    class=\"bbg-spacer\"\n        style=\"height: 40px !important\"\n    >\n<\/div><div\n\tclass=\"bb-wysiwyg byline\"\n\t\t>\n\t<p><strong>Bloomberg News <\/strong><\/p>\n\n<\/div>\n    <p class=\"bbg-metadata bbg-metadata--date\">December 13, 2022<\/p>\n<\/p>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none bbg-row--full-bg-bleed\" data-anchor='row-6a071719b4f3b'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <p><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><i><span style=\"font-weight: 400\">This article was written by Allison Nicole Smith. It appeared first on the Bloomberg Terminal.<\/span><\/i><\/p>\n<p>As the debate heats up over ESG investing, fixed-income professionals say they need more data than what\u2019s currently out there.<\/p>\n<p>A survey of 111 senior buy-side fixed-income investors, conducted by analytics firm Coalition Greenwich, found that 90% believe the popular strategy, which prices in environmental, social and governance risks, is important to decision making. Yet only about a third of investors have fully integrated ESG into their risk-analysis. The reason? Not enough data.<\/p>\n\n<\/div>\n<div class=\"bbg-interstitial\" aria-label=\"interstitial\" tabindex=\"0\">\n\t<style>\n\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\tbackground:rgba(0,0,0,0);\n\t\t\tpadding: 104px;\n\t\t\t\n\t\t\t\n\t\t}\n\t\t.bbg-interstitial #card_1.bbg-card_hasCta .bbg-card__content, .bbg-interstitial #card_1.bbg-card_hasCta .bbg-card__content p{\n\t\t\tcolor:inherit;\n\t\t}\n\t\t@media (max-width: 768px) {\n\t\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 32px;\n\t\t\t}\n\t\t}\n\t\t@media (max-width: 480px) {\n\t\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 18px;\n\t\t\t}\n\t\t}\n\t<\/style>\n\t<div class=\"wpb_content_element bbg-card  bbg-card-dark bbg-card_hasCta has_interstitial\" id=\"card_1\" data-card_type=\"no_image\">\n  \n  \n  <div class=\"bbg-card__innerwrapper\">\n    <div class=\"bbg-card__content\">\n      \n      \n                      <h3 class=\"bbg-card__title\">Gain instant access to 500+ enterprise datasets that can give you a competitive advantage.<\/h3>\n      \n              <div class=\"bbg-card__wysiwyg bb-wysiwyg\"><p>Access the data. <\/p>\n<\/div>\n          <\/div>\n\n          \n<div\n  id=\"cta_7899347592344027532\"\n  class=\"wpb_content_element bbg-cta icon icon-arrow\">\n  <style>\n    \n    \n    \n  <\/style>\n  <div\n    class=\"bbg-cta-link link-holder\"\n    data-links-type=\"cta-links\">\n    <p class=\"bbg-cta-p right\">\n      <a\n        class=\"bbg-cta-link link interstitial_cta\"\n        href=\"https:\/\/www.bloomberg.com\/professional\/products\/data\/enterprise-catalog\/reference\/\"\n        target=\"_blank\"\n        rel=\"\"\n        data-section-name=\"\"\n                role=\"button\"\n        aria-label=\"Learn more\"\n        >\n                <\/a>\n    <\/p>\n  <\/div>\n<\/div>\n\n      <\/div>\n\n  <\/div>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p>\u201cIt boils down to risk-management,\u201d said Coalition Greenwich\u2019s senior analyst Stephen Bruel. \u201cIf you don\u2019t have reliable ESG data about an issuer or issuance, then it\u2019s harder to calculate what the negative consequences might be.\u201d<\/p>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:1024px\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"697\" height=\"426\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/10\/sustainable-investment-gap.png\" class=\"bbg-single-image__image attachment-large\" alt=\"\" title=\"sustainable-investment-gap\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/10\/sustainable-investment-gap.png 697w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/10\/sustainable-investment-gap.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/10\/sustainable-investment-gap.png 100w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/10\/sustainable-investment-gap.png 600w\" sizes=\"auto, (max-width: 697px) 100vw, 697px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p>The report\u2019s findings come just as Republicans are escalating attacks against Wall Street\u2019s ESG investment practices. States including Florida have\u00a0pulled money\u00a0from firms like\u00a0BlackRock Inc., sustainable investing\u2019s biggest champion.\u00a0Tesla Inc.\u00a0founder Elon Musk and former Vice President\u00a0Mike Pence\u00a0have also\u00a0piled on with public attacks\u00a0against ESG. Meanwhile, regulators are cracking down on the mislabeling of sustainability-linked funds and bonds, and some say the acronym\u00a0should just be dropped\u00a0altogether.<\/p>\n<p>Even though ESG has morphed into a \u201cwoke\u201d bogeyman for US conservatives, demand for sustainable investing continues to grow. Global ESG assets will\u00a0exceed $40 trillion\u00a0this year, and $50 trillion by 2025, according to Bloomberg Intelligence. The forecast suggests ESG is here to stay.<\/p>\n<p>More than half of respondents to the survey said it was important to incorporate ESG in fixed-income portfolios to perpetuate corporate values, while another 35% flagged risk management as an appealing factor.<\/p>\n<p>But there\u2019s a gap between where survey participants want the industry to be and where it actually is, with data challenges named as the biggest obstacle to achieving ESG goals. Those include concerns about data quality, such as greenwashing and inconsistent ratings. If there\u2019s a dearth of reliable ESG data, then quantifying risk becomes risky in and of itself, making it harder to follow the ESG boom \u2013 and opening investors up to considerable losses.<\/p>\n<p>That\u2019s to be expected to some degree given the nascent nature of the field, said Bruel. Once technology advances and regulations are finalized, they should help firms and their clients spot and measure risks and opportunities, but a whopping 49% of respondents said there\u2019s still a ton of room for improvement.<\/p>\n<p>\u201cThe tools need to improve to ensure investors who are interested in allocating their capital to ESG-friendly investments are able to form a complete picture of the issuer and issuance,\u201d said Bruel.<\/p>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:1024px\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"707\" height=\"428\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/10\/investors-seek.png\" class=\"bbg-single-image__image attachment-large\" alt=\"\" title=\"investors-seek\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/10\/investors-seek.png 707w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/10\/investors-seek.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/10\/investors-seek.png 100w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/10\/investors-seek.png 600w\" sizes=\"auto, (max-width: 707px) 100vw, 707px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p>Not all ESG investments are created equal, either. Calculating climate risk, for example, is a tricky area that would especially benefit from increased data. How will a hotter planet impact municipal-issued debt in areas of the country that are increasingly vulnerable to wildfires and hurricanes, for example?<\/p>\n<p>\u201cIt\u2019s OK if there\u2019s climate risk on the issuer, as long as you can quantify that and incorporate that into the price,\u201d said Bruel. \u201cBut that\u2019s something that many have difficulty doing right now.\u201d<\/p>\n<p>In the near-term, more than half of survey respondents called on improved ESG reporting to stakeholders, while some 47% said ESG should be extended to the entire investment lifestyle.<\/p>\n\n<\/div>\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <style>section[data-anchor=row-6a071719bea53]::before {\n\t\t\t\tbackground-color: #eeeeee;\n\t\t\t}<\/style>\n    <section class=\"bbg-row bg--custom-color  bg--eeeeee text--black 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Now, let us do that for you.<\/p>\n<\/div>\n          <\/div>\n\n          \n<div\n  id=\"cta_1498654695350156348\"\n  class=\"wpb_content_element bbg-cta icon icon-arrow\">\n  <style>\n    \n    \n    \n  <\/style>\n  <div\n    class=\"bbg-cta-link link-holder\"\n    data-links-type=\"cta-links\">\n    <p class=\"bbg-cta-p right\">\n      <a\n        class=\"bbg-cta-link link interstitial_cta\"\n        href=\"https:\/\/www.bloomberg.com\/professional\/request-demo\/\"\n        target=\"\"\n        rel=\"\"\n        data-section-name=\"\"\n                role=\"button\"\n        aria-label=\"Learn more\"\n        >\n                <\/a>\n    <\/p>\n  <\/div>\n<\/div>\n\n      <\/div>\n\n  <\/div>\n\n<\/div>\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>As the debate heats up over ESG investing, fixed-income professionals say they need more data than what\u2019s currently out 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