2022年经济学人 ESG的韧性（2）（在线收听）

Sustainable-fund managers point out that their investors are not overly bothered by short-term returns.

可持续基金经理指出，他们的投资者并不过分担心短期回报。

People putting money into ESG believe the energy transition is not something that will happen over a couple of years, but a long-term trend that will mean their investments inevitably pay off.

投资ESG的人认为，能源转型不是几年内就会实现的事情，而是一种长期趋势，而这意味着他们的投资必然会获得回报。

Oil majors may have been a good investment this year, they admit, but that will cease as deadlines for hitting net-zero emissions near.

他们承认，石油巨头今年可能是一笔不错的投资，但随着实现净零排放的最后期限临近，这种投资的优势将会逐渐消失。

Sustainably minded investors tend to be young and have decades-long investment horizons.

具有可持续思维的投资者往往很年轻，拥有长达几十年的投资视野。

They do not fret about a few years of poor performance.

他们不会为几年的糟糕表现而烦恼。

Social values give investors a non-pecuniary reason for allocating money and sticking with their choice, a rare advantage for funds in an industry where a competitive edge normally means lower fees.

社会价值观为投资者配置资金和坚持自己的选择提供了与金钱无关的理由，在一个竞争优势通常意味着费用更低的行业中，这对基金来说是一种罕见的优势。

Indeed, Morningstar’s data show that the greener the fund, the more likely it is to have enticed investors to stick around.

事实上，晨星的数据显示，基金越环保，就越有可能吸引投资者继续投资。

The EU’s Sustainable Finance Disclosure Regulation, a rule on climate-investment standards, splits funds into three categories.

欧盟关于气候投资标准的《可持续金融披露条例》将基金分成了三类。

Those in the greener bucket, known as Article 9 funds, enjoyed the biggest net inflows in the third quarter of the year.

那些更环保的基金，即“第9条产品”基金，在今年第三季度获得了最大的净流入。

Article 8 funds, sometimes called “light green” in the industry, have seen net outflows—but not as big as those from Article 6 funds, which have no sustainability focus at all.

在业内有时被称为“浅绿色”基金的“第8条产品”基金出现了净流出--但没有“第6条产品”基金那么大，后者完全不关注可持续发展。

There are notably fewer bankers and asset managers at this year’s COP27 convention in Sharm el-Sheikh than there were in Glasgow.

今年在沙姆沙伊赫举行的COP27大会上，银行家和资产经理的人数明显少于出席格拉斯哥COP26大会的人数。

Perhaps that is because they have one eye on American politics, where Republicans are rallying against “woke capitalism”, none more volubly than Ron DeSantis, Florida’s governor and a potential presidential candidate.

也许这是因为他们同时还在关注美国政治，此时的共和党人正在联合起来反对“觉醒资本主义”，没有人比佛罗里达州州长、潜在总统候选人罗恩·德桑蒂斯更滔滔不绝。

Allies of Mr DeSantis may have to grit their teeth, however.

然而，德桑蒂斯的盟友可能不得不咬紧牙关。

This year’s greenwashing scandals, and investors’ relaxed attitude towards them, have demonstrated an important truth: that there is money to be made from environmental investing.

今年的漂绿丑闻，以及投资者对这些丑闻的放松态度，证实了一个重要的事实：环境投资是可以赚钱的。

So long as that is true, businesses claiming to provide investors with the genuine, truly green article will not be going anywhere.

只要能赚到钱，那些声称向投资者提供真正绿色产品的企业就会一直存在。