ESG: from process to product

George Serafeim

Chapter 2 in Handbook of ESG Investing, 2026, pp 15-31 from Edward Elgar Publishing

Abstract: ESG measurement, analysis, management, and communication is a process that the financial industry has turned into a product, resulting in many investment funds using the ESG label. This has caused confusion, generating demand for a framework that defines the objectives and characteristics of ESG investment products. The main objective is to intentionally allocate capital and influence investees with measurable financial, environmental, and/or social outcomes. The key characteristics are those of intentionality and measurability with the additional characteristics of materiality and additionality serving to enhance their overall significance.

Keywords: ESG; Conceptual framework; Information; Materiality; Measurement (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035322770
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