ESG Ratings Scores ‘Very Rarely’ Help, Norway Wealth Fund Says
- $1.4 trillion fund uses underyling data, not ratings scores
- ESG raters have faced questions around their methodology
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The biggest owner of stocks in the world tends not to look at the headline numbers provided by ESG ratings firms, and says only by digging into the underlying data does it find the information needed to guide portfolio decisions.
“We very rarely, if ever, use the ratings numbers,” said Patrick du Plessis, the global head of risk monitoring at Norges Bank Investment Management.