TED演讲:可持续性的投资逻辑(5)

 But it does illustrate¹ that environmental leadership is compatible with good returns. 但它确实说明注重环境问题和高效益并不矛盾。

So if the returns are the same or better and the planet benefits, wouldn't this be the norm? 如果效益相同或更好，而我们的星球还能受益，难道这不应该成为常规吗？

Are investors², particularly institutional investors,engaged?  那么投资者们，尤其是机构投资者们，参与进来了吗？

Well, some are, and a few are really at the vanguard.  有些已经参与进来了，有几个还是先锋。

Hesta is a retirement³ fund for health and community services employees in Australia, Hesta是澳大利亚的一家退休基金，服务于医疗和社区服务人员。他们的资产为220亿。

They believe that ESG has the potential to impact risks and returns, 他们相信ESG有潜力影响风险和回报，

so incorporating it into the investment process is core to their duty to act in the best interest of fund members,core to their duty.  所以他们把将ESG纳入投资过程作为他们的核心职责，以达到为基金成员谋取最佳利益的目的，他们的核心职责！

You gotta love the Aussies, right?  澳大利亚人是不是很可爱？

CalPERS is another example. CalPERS is the pension fund for public employees in California, 是另一个例子。是加州公务员的养老基金,

they are the second largest in the U.S. and the sixth largest in the world.  排在美国第二大，世界第六大。

Now, they're moving toward 100 percent sustainable investment by systematically⁴ integrated ESG across the entire fund. 现在，他们正朝着 100%可持续性投资的方向转变，他们要通过系统地将ESG整合到整个基金中来实现。

Why? They believe it's critical to superior long-term returns, full stop. 为什么呢？他们相信这是获得长期高效益的关键。就这样。

In their own words, long-term value creation requires the effective management of three forms of capital: 用他们自己的话来说： 创造长期的价值，需要有效地管理三种形式的资本：

financial, human, and physical. This is why we are concerned with ESG.  财务、人力和物理。这就是我们为什么关心ESG。

Now, I do speak to a lot of investors as part of my job, and not all of them see it this way.  我跟很多投资者交谈过，因为这是我工作的一部分，并不是所有人都这样看问题。

Often I hear, We are required to maximize returns, so we don't do that here,  我经常听到的是，我们需要将回报最大化，所以我们这儿不做这些。

or, We don't want to use the portfolio⁵ to make policy statements.  或者，我们不想用公司的投资组合做政策方面的声明。

The one that just really gets under my skin is, If you want to do something about that,  最让我受不了的是，如果你想在这方面做点儿什么，

just make money, give the profits to charities. Eyes rolling, eyes rolling.  就去赚钱，然后把收益捐给慈善机构。气得我直翻白眼。

I mean, let me clarify something right here Companies and investors are not singularly responsible for the fate of the planet.  让我来澄清一下我的意思 公司和投资者都不能靠他们单独的力量来负责地球的命运。

They don't have indefinite social obligations,  他们没有无限的社会义务，

and prudent⁶ investing and finance theory aren't subordinate to sustainability. 而且审慎的投资和金融理论并不是要让位给可持续性，

They're compatible. So I'm not talking about tradeoffs here.  他们是相容的。所以我不是说要作某种牺牲。

But institutional investors are the x-factor in sustainability. Why do they hold the key?  但机构投资者是可持续发展中最重要的因素。他们为什么这么关键呢？

1 illustrate   

v.举例说明，阐明；图解，加插图

参考例句：

• The company's bank statements illustrate its success.这家公司的银行报表说明了它的成功。
• This diagram will illustrate what I mean.这个图表可说明我的意思。

2 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

3 retirement   

n.退休，退职

参考例句：

• She wanted to enjoy her retirement without being beset by financial worries.她想享受退休生活而不必为金钱担忧。
• I have to put everything away for my retirement.我必须把一切都积蓄起来以便退休后用。

4 systematically   

adv.有系统地

参考例句：

• This government has systematically run down public services since it took office.这一屆政府自上台以来系统地削减了公共服务。
• The rainforest is being systematically destroyed.雨林正被系统地毀灭。

5 portfolio   

n.公事包；文件夹；大臣及部长职位

参考例句：

• He remembered her because she was carrying a large portfolio.他因为她带着一个大公文包而记住了她。
• He resigned his portfolio.他辞去了大臣职务。

6 prudent   

adj.谨慎的，有远见的，精打细算的

参考例句：

• A prudent traveller never disparages his own country.聪明的旅行者从不贬低自己的国家。
• You must school yourself to be modest and prudent.你要学会谦虚谨慎。