课后思考如下，请问这道思考题提出的一系列问题需要从什么方面思考呢？
Place yourself in the position of a large UK pension fund that is re-evaluating its pension strategy and looking to better integrate ESG investing.
For UK defined contribution plans, annual manager fees are capped at 75 bps, which pays for
► management,
► performance, and
► administration costs.
This fee is often too low to attract alternative active fund managers or alternative managers in such areas as real estate, hedge funds, and infrastructure.
Considering these problems, how would you begin integrating ESG analysis into the pension fund’s process, given the fee limitations?
► What ESG strategies discussed in this chapter will likely not be suitable?
► What ESG analytics can be embedded in the pension fund’s overall risk management process?
► What is the best way for the pension fund to build a comprehensive understanding of manager ESG capabilities?
► What area of ESG risk should the pension fund focus on developing?
► What ambitions should the pension set for engagement and stewardship by its underlying managers?