净净_品职助教 · 2025年06月16日
嗨，努力学习的PZer你好：
When applying an exclusionaryEsG investing strategy,investorsare most likely to
这道题选的是B选项，A和C均为错误选项
在题干中，“exclusionary ESGinvesting strategy”（排除性ESG 投资策略）指的是基于某些特定标准（通常是道德、伦理
或环境原因），将不符合这些标准的公司或行业排除在投资组合之外。这种策略往往不是仅基于财务上的物质性（financial
materiality），而是基于价值观或信仰立场（如反对烟草、武器、化石燃料等）。
A错：排除性策略往往正是基于意识形态（ideologicalcriteria），例如宗教、伦理、环境信仰等，而不是排除这些标准。所以排除性策略并不是“排除意识形态标准”，而是依赖这些标准来做出排除决策。
C错：这种说法更符合ESG 整合（ESG integration）策略的特征，即把“财务上重要”的 ESG 因素融入到投资分析中。
而排除性策略不需要 ESG 因素具有财务重要性，它关注的是某些行为是否符合投资者的价值观，而不一定是对风险和回报的影响。
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NO.PZ2024021801000033 问题如下 When applying exclusionary ESG investing strategy, investors are most likely to: A.exclu iologiccriteria when selecting ESG factors. B.consir ESG factors thare not necessarily financially material. C.focus exclusively on ESG factors thare materiin terms of likelihooanimpact. Incorrebecause the criteria usefor selecting ESG factors are subjective ancrefleiologicor politicviewpoints. Furthermore, some exclusionary investing strategies must also consir factors thare not necessarily financially materi(e.g., exclusion of companies thsell pork-baseprocts certain religious investors even if those procts account for a small percentage of revenues).Correbecause some exclusionary investing strategies must also consir factors thare not necessarily financially materi(e.g., exclusion of companies thsell pork-baseprocts certain religious investors even if those procts account for a small percentage of revenues).Incorrebecause materiality is typically measurein terms of both the likelihooanmagnitu of impact. Note thwhile many practitioners focus exclusively on materiESG factors, some exclusionary investing strategies must also consir factors thare not necessarily financially materi(e.g., exclusion of companies thsell pork-baseprocts certain religious investors even if those procts account for a small percentage of revenues). 不太理解这道题，能否通俗易懂的一下各个和题干的联系？
NO.PZ2024021801000033问题如下When applying exclusionary ESG investing strategy, investors are most likely to:A.exclu iologiccriteria when selecting ESG factors.B.consir ESG factors thare not necessarily financially material.C.focus exclusively on ESG factors thare materiin terms of likelihooanimpact. Incorrebecause the criteria usefor selecting ESG factors are subjective ancrefleiologicor politicviewpoints. Furthermore, some exclusionary investing strategies must also consir factors thare not necessarily financially materi(e.g., exclusion of companies thsell pork-baseprocts certain religious investors even if those procts account for a small percentage of revenues).Correbecause some exclusionary investing strategies must also consir factors thare not necessarily financially materi(e.g., exclusion of companies thsell pork-baseprocts certain religious investors even if those procts account for a small percentage of revenues).Incorrebecause materiality is typically measurein terms of both the likelihooanmagnitu of impact. Note thwhile many practitioners focus exclusively on materiESG factors, some exclusionary investing strategies must also consir factors thare not necessarily financially materi(e.g., exclusion of companies thsell pork-baseprocts certain religious investors even if those procts account for a small percentage of revenues). B是可能发生，C是不是更有可能发生，为什么不选C？
NO.PZ2024021801000033问题如下When applying exclusionary ESG investing strategy, investors are most likely to:A.exclu iologiccriteria when selecting ESG factors.B.consir ESG factors thare not necessarily financially material.C.focus exclusively on ESG factors thare materiin terms of likelihooanimpact. Incorrebecause the criteria usefor selecting ESG factors are subjective ancrefleiologicor politicviewpoints. Furthermore, some exclusionary investing strategies must also consir factors thare not necessarily financially materi(e.g., exclusion of companies thsell pork-baseprocts certain religious investors even if those procts account for a small percentage of revenues).Correbecause some exclusionary investing strategies must also consir factors thare not necessarily financially materi(e.g., exclusion of companies thsell pork-baseprocts certain religious investors even if those procts account for a small percentage of revenues).Incorrebecause materiality is typically measurein terms of both the likelihooanmagnitu of impact. Note thwhile many practitioners focus exclusively on materiESG factors, some exclusionary investing strategies must also consir factors thare not necessarily financially materi(e.g., exclusion of companies thsell pork-baseprocts certain religious investors even if those procts account for a small percentage of revenues). C 解析是错的吧？c提到财务性了？没有吧
NO.PZ2024021801000033问题如下When applying exclusionary ESG investing strategy, investors are most likely to:A.exclu iologiccriteria when selecting ESG factors.B.consir ESG factors thare not necessarily financially material.C.focus exclusively on ESG factors thare materiin terms of likelihooanimpact. Incorrebecause the criteria usefor selecting ESG factors are subjective ancrefleiologicor politicviewpoints. Furthermore, some exclusionary investing strategies must also consir factors thare not necessarily financially materi(e.g., exclusion of companies thsell pork-baseprocts certain religious investors even if those procts account for a small percentage of revenues).Correbecause some exclusionary investing strategies must also consir factors thare not necessarily financially materi(e.g., exclusion of companies thsell pork-baseprocts certain religious investors even if those procts account for a small percentage of revenues).Incorrebecause materiality is typically measurein terms of both the likelihooanmagnitu of impact. Note thwhile many practitioners focus exclusively on materiESG factors, some exclusionary investing strategies must also consir factors thare not necessarily financially materi(e.g., exclusion of companies thsell pork-baseprocts certain religious investors even if those procts account for a small percentage of revenues). 针对题干，想理解下A和C详细错误点
