Recent social events are leading to rebranding … the increasing connection between social/environmental causes and investing … a specific ESG play from Neil George

最近的社交活动正在导致品牌重塑……社会/环境原因与投资之间的联系日益紧密……尼尔·乔治（Neil George）的特定ESG作品

Quaker Oats will be retiring its 131-year old “Aunt Jemima” brand …

桂格燕麦片将淘汰其拥有131年历史的“杰米玛姨妈”品牌……

Mars’ Food will be “evolving” its Uncle Ben’s rice brand …

火星食品将“发展”本叔叔的大米品牌……

ConAgra Brands has begun a “complete brand and package review” of its Mrs. Butter-Worth’s syrup …

ConAgra Brands已开始对其Butter-Worth夫人的糖浆进行“完整的品牌和包装评价”……

And B&G Foods announced it will also conduct a review of its Cream of Wheat packaging. The image has been little changed since 1893 …

B＆G Foods宣布还将对其Cream of Wheat包装进行审查。自1893年以来，图像几乎没有变化。

These changes stem from the spotlight on racial inequality that has taken center stage in recent weeks following the tragic deaths of George Floyd, Breonna Taylor, and Ahmaud Arbery.

这些变化源于人们对种族不平等的关注，在乔治·弗洛伊德（George Floyd），布雷娜·泰勒（Breonna Taylor）和艾哈迈德·阿伯里（Ahmaud Arbery）不幸去世后的最近几周，种族不平等成为了焦点。

We’re living through a period of history in which social concerns are having an enormous impact on corporate America.

我们度过了一段历史时期，在这段时期中，社会关注对美国公司产生了巨大影响。

But we’re also seeing greater corporate consideration for environmental concerns … for shareholder transparency … for worker safety … for companies that serve a broader social purpose beyond just bottom-line growth.

但是，我们也看到公司越来越多地考虑到环境问题……为了股东的透明度……为了工人的安全……对于那些为实现更广泛的社会目标而不仅仅是底线增长的公司。

This wider consciousness is summed up by the acronym “ESG” — Environmental, Social, and Governance.

缩写词“ ESG”概括了这种广泛的意识，即环境，社会和治理。

Here’s how Neil George described it in his recent issue of Profitable Investing:

尼尔·乔治（Neil George）在最近的《获利投资》一书中是这样描述的：

Today, ESG is a both a category of companies as well as a scoring mechanism for companies.

如今，ESG既是公司类别，又是公司的评分机制。

The basic nature of ESG is that it is a means of investing that will not only provide growth and income, but it will do so in a manner that has a lighter environmental footprint, a greater positive contribution to society and is managed in a more transparent way while at the same time remaining focused on shareholders as well as other stakeholders.

ESG的基本性质是，它是一种投资手段，不仅可以提供增长和收入，而且还可以减少环境足迹，对社会产生更大的积极贡献并以更透明的方式进行管理同时保持关注股东和其他利益相关者的方式。

It turns out, ESG isn’t just good for our world in a broad sense. According to Neil, it’s also good for investors’ returns.

事实证明，ESG不仅在广义上对我们的世界有益。根据尼尔的说法，这也有利于投资者的回报。

So, in today’s Digest, let’s turn our attention to this interplay between investing and the greater good. Even better, given his usual generous manner, Neil has given me the greenlight to reveal specific ESG plays he likes today.

因此，在今天的摘要中，我们将注意力转移到投资与更大利益之间的这种相互作用。更好的是，由于尼尔平时的大方态度，他让我得以展示他今天喜欢的特定ESG游戏。

Let’s jump in …

让我们跳进去...

***A primer on ESG

*** ESG入门

Here’s Neil with deeper dive into the ESG acronym:

以下是Neil进一步深入探讨ESG的缩写：

Environmentally friendly means greater use or production of renewable or cleaner energy along with less impact in waste and material use. This is not a drag on most companies that continue to drive growth and more income from renewable and cleaner energy production.

环保意味着更多地使用或生产可再生或清洁能源，同时减少对废物和材料的使用。这对大多数继续推动增长并从可再生能源和清洁能源生产中获得更多收入的公司而言，并不构成拖累。

Social concerns bring in the practice of involving more stakeholders in the decisions of companies. It means that companies are more aware of their impacts on communities as well as consumers. It can be a grab bag for lots of other causes, but at its core social responsibility should result in more favorable views of companies and treatments by governments and customers.

社会关注促使公司让更多利益相关者参与公司决策。这意味着公司更加意识到其对社区以及消费者的影响。它可能是许多其他原因的抓包，但从根本上讲，社会责任应导致政府和客户对公司以及对公司的待遇更为满意。

Governance includes better recognition of shareholders’ rights. This means independent boards of directors, more transparency in executive compensation and greater disclosure of company activities and financial conditions.

治理包括更好地认识股东权利。这意味着要有独立的董事会，提高执行人员薪酬的透明度，并更好地披露公司活动和财务状况。

I’ve always been in favor of all of this, including separate CEO and Chairman of the Board positions, greater disclosure throughout the year and more information in the quarterly reports of business activities and finances, with less reliance on the very small print in the footnotes.

我一直都支持所有这些，包括独立的首席执行官和董事会主席的职位，全年更多的披露以及业务活动和财务状况的季度报告中的更多信息，而较少依赖脚注。

Even prior to the recent equality-oriented protests, ESG investing has been seeing a surge of interest.

甚至在最近以平等为导向的抗议活动之前，ESG投资一直在引起人们的兴趣。

For example, in February, Financial Times reported that ESG-focused equity funds had taken in nearly $70 billion of assets over the prior 12 months. Over the same period, traditional equity funds had suffered nearly $200 billion of outflows.

例如，2月，《金融时报》报道，以ESG为重点的股票基金在过去12个月中吸收了近700亿美元的资产。同期，传统股票基金的资金流出量接近2000亿美元。

It’s likely that events from the last several months will accelerate this flow.

最近几个月的事件很可能会加速这一流程。

From CNBC:

来自CNBC：

ESG investing is predicted to surge following the coronavirus pandemic and demonstrations over racial injustice. Consumers and Wall Street investors alike are increasingly holding companies accountable for their performance on environmental, social and governance benchmarks — or ESG, for short.

在冠状病毒大流行和种族不公正示威之后，预计ESG的投资将激增。消费者和华尔街投资者都越来越要求公司对其在环境，社会和治理基准（简称ESG）方面的表现负责。

***It’s one thing for individual investors to be behind ESG, but today, we’re seeing increased interest from institutions as well

***个人投资者落后于ESG是一回事，但今天，我们也看到了机构的兴趣在增加

In his issue, Neil explains that many institutions are run for the benefit of a variety of different cohorts, such as pension funds or endowments. And these beneficiaries are demanding that fund management invest more in ESG-compliant or ESG-focused companies. Given this, more fund managers are getting on board.

尼尔（Neil）在本期杂志中解释说，许多机构是为各种不同的群体而运行的，例如养老基金或捐赠基金。这些受益者要求基金管理对符合ESG或专注于ESG的公司进行更多投资。鉴于此，更多的基金经理将加入。

In fact, according to the 2019 RBC Global Asset Management Responsible Investing Survey released last fall, 70% of institutional investors in the U.S., Canada, and the U.K. now apply ESG principles to their investment decisions.

实际上，根据去年秋天发布的《 2019年RBC全球资产管理负责任调查》，美国，加拿大和英国的机构投资者中有70％现在将ESG原则应用于其投资决策。

So, how are these ESG-themed investments doing?

那么，这些以ESG为主题的投资表现如何？

A Morningstar study examining 54 sustainability-focused equity index funds found that 73% outperformed broader index funds.

晨星公司的一项研究调查了54只关注可持续发展的股票指数基金，发现73％的股票跑赢了更广泛的指数基金。

And according to the managing director of the Defined Contribution Institutional Investment Association, ESG investments provide for more stable portfolio returns on average, with 84% of funds exhibiting lower volatility compared to non-ESG funds.

而且，根据“固定供款机构投资协会”的常务理事，ESG投资平均可提供更稳定的投资组合收益，其中84％的基金的波动性低于非ESG基金。

Neil’s own research supports strong returns from ESG:

Neil自己的研究支持ESG的丰厚回报：

You might think that by imposing additional ESG rules and standards, these companies would be laggards in the stock market.

您可能会认为，通过施加附加的ESG规则和标准，这些公司将在股票市场上落后。

Nope. If you look at the S&P ESG Index compared to the S&P 500 Index over the trailing three years, you’ll see that ESG outperformed the general market 33.25% to 32.73%.

不。如果将过去三年中的标准普尔ESG指数与标准普尔500指数进行比较，您会发现ESG的表现优于一般市场33.25％至32.73％。

S&P ESG & S&P 500 Indexes Total Returns –Source: Bloomberg Finance, L.P.

标普ESG和标普500指数总回报–资料来源：彭博金融，L.P。

***Which stock does Neil like for an ESG investment?

***尼尔喜欢ESG投资哪种股票？

Turning toward specific ways to play ESG, Neil points toward the “poster child of the ESG utility market,” NextEra Energy (NEE).

在谈到玩ESG的特定方式时，Neil指出了“ ESG公用事业市场的雏形” NextEra Energy（NEE）。

From Neil:

来自尼尔：

NextEra is the largest wind and solar power company in the world. It has renewables deployed in its regulated South Florida utility business and has used its unregulated business to sell clean energy across the US.

NextEra是世界上最大的风能和太阳能公司。它在受监管的南佛罗里达州公用事业中部署了可再生能源，并利用其不受监管的业务在全美国销售清洁能源。

It turns out, NEE has been in the Profitable Investing portfolio since 2008. Since then, it’s up 541%, but Neil still believes more gains are coming.

事实证明，自2008年以来，NEE就进入了“获利投资”投资组合。自那以来，它已增长541％，但Neil仍然相信会有更多的收益。

For one reason why, NEE should be benefiting from a new IRS rule.

由于一个原因，NEE应该从新的IRS规则中受益。

Back to Neil:

返回尼尔：

One of the areas of ESG that is particularly attractive to me is environmentally friendly businesses, particularly in the utility and energy markets. And this is about to get a whole lot more profitable under new Internal Revenue Service (IRS) rules that are going to apply to a line item of the Bipartisan Budget Act of 2018 (BBA).

对我而言，ESG特别吸引人的领域之一是环境友好型企业，尤其是在公用事业和能源市场。根据新的国税局（IRS）规则，这将带来更大的利润，这些新规则将适用于2018年《两党预算法》（BBA）的订单项。

Specifically, it involves section 45Q, which was first put forward back in 2008 but never really got clarification. It involves Carbon Dioxide (CO2) capture, storage and use.

具体而言，它涉及第45Q条，该条最早于2008年提出，但从未真正得到澄清。它涉及二氧化碳（CO2）的捕获，存储和使用。

Neil explains that under the new IRS rules, companies can earn a tax credit that’s transferable and saleable to the tune of $35 per ton of CO2 captured. One of the major sources of CO2 industrial production is coal-fired power plants — which NextEra still operates. This means it is in line to collect or sell the credits.

Neil解释说，根据新的IRS规则，公司可以获得可转让和可出售的税收抵免，每吨捕获的CO2可达35美元。燃煤电厂是CO2工业生产的主要来源之一，NextEra仍在运行。这意味着可以收集或出售积分。

Keep in mind, NEE also yields almost 2.4%. So, while you wait for additional stock gains, you’re receiving a healthy income stream.

请记住，NEE的收益率也接近2.4％。因此，在等待其他股票收益的同时，您会获得可观的收入。

Neil likes NEE up to $264.50. As I write Wednesday morning, it trades at $243.48, so there’s plenty of room to get in. For more from Neil, click here.

尼尔（Neil）喜欢NEE最高$ 264.50。正如我在周三早上所写的那样，它的价格为243.48美元，因此还有很大的上涨空间。

Expect more spotlight — and more gains — from ESG investments in the coming quarters and years.

预计在接下来的几个季度和几年中，ESG投资将吸引更多关注，并获得更多收益。

The post Profitable Investing With a Cause appeared first on InvestorPlace.

获利的有原因的投资一文首先出现在InvestorPlace上。