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Show Results For
- All HBS Web
(1,945)
- People (1)
- News (284)
- Research (1,458)
- Events (4)
- Multimedia (6)
- Faculty Publications (774)
- 16 Sep 2016
- News
The Morning Risk Report: Better Performance Follows ESG Proposals
- Forthcoming
- Article
Are ESG Improvements Recognized? Perspectives from the Public Sentiments
By: Shaolong Wu
While Environment, Social, and Governance (ESG) increasingly guides investment management and corporate agendas nowadays, public reactions to firms' ESG performance remain under-studied. This paper fills this gap by investigating whether the public picks up firms' ESG... View Details
Keywords: Corporate Social Responsibility and Impact; Public Opinion; Environmental Sustainability; Corporate Governance; Investment
Wu, Shaolong. "Are ESG Improvements Recognized? Perspectives from the Public Sentiments." Journal of Impact and ESG Investing (forthcoming).
- September–October 2020
- Article
Social-Impact Efforts That Create Real Value
By: George Serafeim
Until the mid-2010s few investors paid attention to environmental, social, and governance (ESG) data—information about companies’ carbon footprints, labor policies, board makeup, and so forth. Today the data is widely used by investors. How can organizations create... View Details
Keywords: Sustainability; Sustainability Management; ESG; ESG (Environmental, Social, Governance) Performance; ESG Disclosure; ESG Disclosure Metrics; ESG Ratings; ESG Reporting; Social Impact; Impact Measurement; Social Innovation; Purpose; Corporate Purpose; Corporate Social Responsibility; Strategy; Social Enterprise; Society; Accounting; Investment; Environmental Sustainability; Climate Change; Corporate Strategy; Mission and Purpose; Corporate Social Responsibility and Impact; Financial Services Industry; Chemical Industry; Technology Industry; Consumer Products Industry; Pharmaceutical Industry; North America; Europe; Japan; Australia
Serafeim, George. "Social-Impact Efforts That Create Real Value." Harvard Business Review 98, no. 5 (September–October 2020): 38–48.
- 10 May 2023
- Video
Driving Climate Performance Through Accountability and Governance
- 2020
- Working Paper
How ESG Issues Become Financially Material to Corporations and Their Investors
By: George Serafeim
Management and disclosure of environmental, social and governance (ESG) issues have received substantial interest over the last decade. In this paper, we outline a framework of how ESG issues become financially material, affecting corporate profitability and valuation.... View Details
Keywords: Materiality; ESG; Pharmaceutical Companies; Business Ethics; Sustainability; Environment; Disclosure; Disclosure And Access; Regulation; Social Impact; Environmental Sustainability; Social Issues; Corporate Governance; Ethics; Corporate Disclosure; Corporate Accountability; Resource Allocation; Finance; Accounting; Valuation
Freiberg, David, Jean Rogers, and George Serafeim. "How ESG Issues Become Financially Material to Corporations and Their Investors." Harvard Business School Working Paper, No. 20-056, November 2019. (Revised November 2020.)
- 2023
- Working Paper
ESG: From Process to Product
By: George Serafeim
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... View Details
Keywords: ESG; ESG (Environmental, Social, Governance) Performance; ESG Ratings; ESG Reporting; Investment Fund; Investment; Corporate Social Responsibility and Impact; Financial Services Industry
Serafeim, George. "ESG: From Process to Product." Harvard Business School Working Paper, No. 23-069, May 2023.
- 13 Mar 2017
- Working Paper Summaries
Why and How Investors Use ESG Information: Evidence from a Global Survey
Keywords: by Amir Amel-Zadeh and George Serafeim
- Article
Human Capital and the Future of Work: Implications for Investors and ESG Integration
By: Sakis Kotsantonis and George Serafeim
Human capital development (HCD) is a key consideration for most companies, but only recently have investors focused on understanding the risks and opportunities related to human capital with the emergence of environmental, social, and governance (ESG) investment... View Details
Keywords: Future Of Work; ESG; Employee Engagement; Employee Compensation; Human Capital; Human Resources; Employees; Compensation and Benefits; Wages
Kotsantonis, Sakis, and George Serafeim. "Human Capital and the Future of Work: Implications for Investors and ESG Integration." Journal of Financial Transformation 51 (April 2020): 115–130.
- 01 Mar 2019
- News
ESG Returns Eventually Will Win Over Critics
- September 7, 2020
- Article
Where ESG Ratings Fail: The Case for New Metrics
By: Mark R. Kramer, Nina Jais, Erin E. Sullivan, Carina Wendell, Kerry Rodriguez, Carlo Papa, Carlo Napoli and Filippo Forti
One agency’s A+ is another’s “laggard” — and neither links to financial performance. Hybrid metrics will change everything, argue Harvard Business School’s Mark Kramer and leaders in the shared-value movement. View Details
Keywords: ESG Ratings; Shared Value; Integrated Corporate Reporting; Performance; Measurement and Metrics
Kramer, Mark R., Nina Jais, Erin E. Sullivan, Carina Wendell, Kerry Rodriguez, Carlo Papa, Carlo Napoli, and Filippo Forti. "Where ESG Ratings Fail: The Case for New Metrics." Institutional Investor (September 7, 2020).
- October 2015
- Case
Transpower New Zealand: Evaluating Board Performance
By: Boris Groysberg, Paul M. Healy and Sarah L. Abbott
Mark Verbiest, Chairman of Transpower New Zealand, initiated a performance review of Transpower's board of directors. The review, which took four months to complete, provided board members with individualized feedback on their performance, as well as information on how... View Details
Keywords: Board Of Directors; Performance Evaluation; Governance; Leadership; Performance; Organizations; Human Resources; Decision Making; New Zealand
Groysberg, Boris, Paul M. Healy, and Sarah L. Abbott. "Transpower New Zealand: Evaluating Board Performance." Harvard Business School Case 416-024, October 2015.
- August 2020
- Background Note
US Private Equity Firms: ESG and Impact (A)
By: Lynn S. Paine and Holly Fetter
This Note has two parts. The first part (A) explores how U.S. private equity firms are incorporating ESG (Environmental, Social, & Governance) factors and impact objectives into their investment strategies and firm practices. It is based on publicly available... View Details
Keywords: Private Equity; Corporate Social Responsibility and Impact; Social Issues; Financial Services Industry; United States
Paine, Lynn S., and Holly Fetter. "U.S. Private Equity Firms: ESG and Impact (A)." Harvard Business School Background Note 321-036, August 2020.
- December 2011 (Revised May 2015)
- Case
Aviva Investors
By: George Serafeim
The Aviva Investors case describes the challenge of integrating sustainability considerations into the strategy and business practices of companies and into the decision making process of the investment community. Steve Waygood, Chief Responsible Investment Officer at... View Details
Keywords: Investing; Investment Management; Shareholder Activism; Disclosure; Stock Exchanges; Sustainability; Sustainable Development; Sustainability Reporting; ESG; ESG (Environmental, Social, Governance) Performance; Social Impact; Activism; Investment; Management; Business and Shareholder Relations; Environmental Sustainability; United Kingdom
Serafeim, George, Robert G. Eccles, and Kyle Armbrester. "Aviva Investors." Harvard Business School Case 112-047, December 2011. (Revised May 2015.)
- 13 Dec 2012
- News
Is ESG Information for Investors Losing its Competitive Edge?
- August 2020
- Background Note
US Private Equity Firms: ESG and Impact (B)
By: Lynn S. Paine and Holly Fetter
This is the second part of a two-part note. The first part (A) explores how US private equity firms are incorporating ESG (Environmental, Social, & Governance) factors and impact objectives into their investment strategies and firm practices. It is based on publicly... View Details
Keywords: Private Equity; Corporate Social Responsibility and Impact; Social Issues; Financial Services Industry; United States
Paine, Lynn S., and Holly Fetter. "U.S. Private Equity Firms: ESG and Impact (B)." Harvard Business School Background Note 321-037, August 2020.
- October 2017 (Revised October 2022)
- Case
JetBlue: Relevant Sustainability Leadership
By: George Serafeim and David Freiberg
In 2017, JetBlue, the airline founded on the mission to “bring humanity back to air travel,” was considering becoming one of the first companies to report its sustainability performance according to the Sustainability Accounting Standards Board (SASB) standards. SASB... View Details
Keywords: Sustainability; Metrics; Leadership And Change Management; Airlines; Innovation; Purpose; ESG; ESG (Environmental, Social, Governance) Performance; Sustainability Reporting; Change Management; Leadership; Financial Reporting; Environmental Sustainability; Mission and Purpose; Reports; Competitive Strategy; Measurement and Metrics; Corporate Social Responsibility and Impact; Air Transportation Industry; United States
Serafeim, George, and David Freiberg. "JetBlue: Relevant Sustainability Leadership (A)." Harvard Business School Case 118-030, October 2017. (Revised October 2022.)
- February 2024 (Revised February 2024)
- Case
CLSA: Integrating ESG in Stock Valuation
By: Shirley Lu, Aaron Yoon and Billy Chan
In 2023, a senior financial analyst at the Hong Kong-based stock brokerage firm CLSA was surprised to see that, based on his calculations, the financial impact from climate risks on a major Indian cement manufacturing company’s projected earnings could be massive.... View Details
- 2014
- Article
The Governance of Social Enterprises: Mission Drift and Accountability Challenges in Hybrid Organizations
By: Alnoor Ebrahim, Julie Battilana and Johanna Mair
We examine the challenges of governance facing organizations that pursue a social mission through the use of market mechanisms. These hybrid organizations, often referred to as social enterprises, combine aspects of both charity and business at their core. In this... View Details
Keywords: Governance; Hybrid Organizations; Nonprofit; Performance Measurement; Legal Form; Agency Theory; Stakeholder Management; Mission and Purpose; Social Enterprise; Corporate Accountability
Ebrahim, Alnoor, Julie Battilana, and Johanna Mair. "The Governance of Social Enterprises: Mission Drift and Accountability Challenges in Hybrid Organizations." Research in Organizational Behavior 34 (2014): 81–100.