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Environment, Social and Governance Risks Are Financial Risks (Russell Investments, 8 min read) Selecting securities without considering ESG is risky. For example, the BP spill was predictable because it had a poor historical safety record; after the spill, BP lost 51% of its market value in 40 days and had to pay $28 billion in clean-up efforts.
Alphabet Borrowing $5.75 Billion in Largest Corporate ESG Bond (Washington Post, 2 min read) ‘Alphabet Inc. is selling $5.75 billion of bonds with rock bottom yields, in the largest corporate bond sale dedicated to environmental, social and governance purposes. The parent company of Google is looking to fund organizations that support black entrepreneurs, small and medium businesses impacted by Covid-19, as well as affordable housing.’