NO.PZ2022120703000096
问题如下：
According to CFA Institute, ESG integration:选项：
A.uses rights and position of ownership to influence issuers’ activities. B.excludes issuers from the investment product based on certain ESG-related activities. C.explicitly considers ESG-related factors that are material to the investment risk and return.解释：
C is correct because according to the CFA Institute Proposed ESG Product Features, “ESG integration” is described as a feature function that “explicitly considers ESG-related factors that are material to the risk and return of the investment, alongside traditional financial factors, when making investment decisions."
A is incorrect because according to the CFA Institute Proposed ESG Product Features, “Proxy voting, engagement and stewardship”, not ESG integration, is described as a feature function that “uses rights and position of ownership to influence issuers’ or companies’ activities or behaviours."
B is incorrect because according to the CFA Institute Proposed ESG Product Features, “ESG-related exclusions”, not ESG integration, is described as a feature function that “excludes securities, issuers or companies from the investment product based on certain ESG-related activities, business practices or business segments."
这道题中说ESG integration，A选项的意思是整合ESG要做Engagement，也没有错吧？C选项我觉得“consider ESG related factors are material”不代表所有的ESG factors都是重大的，所以不准确。因为我认为这题问的是广义的“ESG integration”而不是狭义的具体的策略之一“ESG integration ”，实际考试碰到这种情况该怎么选择？
