Environmental, social and governance risk exposures of mutual funds

Christine Helliar (), Barbara Petracci and Nongnuch Tantisantiwong
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Christine Helliar: University of South Australia
Barbara Petracci: Bologna University

Journal of Asset Management, 2025, vol. 26, issue 3, No 5, 316-332

Abstract: Abstract Frequent natural disasters caused by climate change and the COVID-19 pandemic have increased global awareness of sustainability issues with a consequent focus on sustainable finance. This study disaggregates the exposures of mutual funds to environmental, social, and governance risks using data from 18,648 investment funds. We find that investment in technology and financial firms and herding behavior support an environmental strategy but not necessarily governance or social responsibility. Further, funds with longer-tenured managers are less sustainability-focused, possibly entrenched from an era before ESG became a societal concern.

Keywords: Sustainability; ESG risk management; Inequality in environmental; social; and governance impacts; Fund management (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1057/s41260-025-00401-7

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