RT Journal Article
SR Electronic
T1 United Nations Principles for Responsible Investment Signatories: Evangelists or Hypocrites?
JF The Journal of Impact and ESG Investing
FD PMR
SP jesg.2022.1.050
DO 10.3905/jesg.2022.1.050
A1 Soohun Kim
A1 Aaron S. Yoon
YR 2022
UL https://pm-research.com/content/early/2022/05/30/jesg.2022.1.050.abstract
AB Kim and Yoon (2021) assess whether active US mutual funds exhibit ESG implementation, after they sign the United Nations Principles for Responsible Investment (PRI). In a stark contrast to the fact that PRI signatories attract a large fund inflow, we do not observe improvements in fund-level ESG scores or fund returns. Furthermore, PRI signatories are not likely to be superior in ESG issues prior to signing, relative to non-PRI funds. Given these findings, a reasonable reader may perceive PRI signatories as hypocrites rather than evangelists.