最新
热门
根据dealroom的数据，气候科技初创企业在2021年在全球筹集了创纪录的320亿美元，是五年前签署《巴黎气候协议》以来的4.9倍。
嗨，我是莫莉。我想与大家分享有关资产配置的信息，尤其是专业投资者的持股和观点，以及适合初学者的书籍。
![]()
![]()
谢谢你关注我！
您是否投资过 ESG 股票或基金？你觉得这个怎么样？
$TSLA.US$ $RIVN.US$ $NIO.US$ $比亚迪股份.HK$
嗨，我是莫莉。我想与大家分享有关资产配置的信息，尤其是专业投资者的持股和观点，以及适合初学者的书籍。
您是否投资过 ESG 股票或基金？你觉得这个怎么样？
$TSLA.US$ $RIVN.US$ $NIO.US$ $比亚迪股份.HK$
已翻译
18
2
$.DJI.US$ $SPY.US$ $.IXIC.US$ 随着从低估值到完全定价的转变，下一阶段ESG投资的一些经验教训正在浮出水面。对于处在第二个责任投资时代的机构投资者而言，在ESG视角下产生卓越的风险调整后回报的途径将是识别主题、阻碍其可能的轨迹并成功地将影响映射到资产类别、行业、行业和公司动态的能力。没有人需要再怀疑这些广泛现象（其中许多是金融体系的外部现象）能否对金融资产产生强大影响。焦点将不可避免地从宏观转向微观，远离情况会改变吗？这种变化将如何影响社会？
在过去十年初，要确定其股价将受到大规模向替代能源过渡影响的公司并不难。例如，大型石油公司很容易脱颖而出，尤其是在深水地平线灾难之后。同样，具有ESG意识的投资者可以相对容易地举报在社会和治理问题上表现不佳的企业，而且许多企业仍然没有悔改。但近年来，情况发生了巨大变化，ESG问题已成为全球公司董事会的重中之重。现在，10年前设定简单目标的石油和天然气巨头已经将对替代燃料的投资翻了一番，在某些情况下，他们成为了绿色能源的重要投资者。3 必和必拓等传统矿业公司现在是支持清洁技术的稀土金属的最大投资者之一。同时，当今许多知名的科技巨头过去经常因治理不善和对社会问题缺乏关注而受到批评，他们正在努力改善其运营结构，并加大了对当今紧迫社会事务的承诺。
所有这一切的长短在于，出于各种重要原因，ESG因素在投资中至关重要的倡导者赢得了这场战斗。只要看本文顶部的图表就可以看到证据。忽视这些因素不再是一种选择——几乎所有公司都必须寻求降低ESG风险范围。从ESG价值观的角度来看，这显然是件好事，但从寻求回报的角度来看，这可能意味着获得巨额回报的机会减少了。换句话说，对广泛扩散的ESG评分系统给予高评分的公司的风险可能低于同行，但是通过提高对问题的认识而获得的任何巨大收益都可能背后。为什么？因为关于这些公司在环境、社会和治理风险方面如何为未来进行定位的知识现已得到认可，换句话说，是广为人知的。例如，这意味着一家公司实现碳中和或提高其高管团队多样性的计划已经被纳入其股价——当然，这可能会导致估值上升，但也可能减少上行意外惊喜。我们称之为高效的信息市场的运作——如果每个人都知道并且每个人都重视它，那么就不会有非凡的回报可以获得。
随着从低估值到完全定价的转变发生，下一阶段ESG投资的一些经验教训正在浮出水面。对于处在第二个责任投资时代的机构投资者而言，在ESG视角下产生卓越的风险调整后回报的途径将是识别主题、阻碍其可能的轨迹并成功地将影响映射到资产类别、行业、行业和公司动态的能力。没有人需要再怀疑这些广泛现象（其中许多是金融体系的外部现象）能否对金融资产产生强大影响。焦点将不可避免地从宏观转向微观，远离情况会改变吗？这种变化将如何影响社会和企业？
那么，在ESG投资的第二个时代，那些仍然希望在保持对ESG事务的关注的同时仍想获得丰厚回报的投资者会走向何方？
在过去十年初，要确定其股价将受到大规模向替代能源过渡影响的公司并不难。例如，大型石油公司很容易脱颖而出，尤其是在深水地平线灾难之后。同样，具有ESG意识的投资者可以相对容易地举报在社会和治理问题上表现不佳的企业，而且许多企业仍然没有悔改。但近年来，情况发生了巨大变化，ESG问题已成为全球公司董事会的重中之重。现在，10年前设定简单目标的石油和天然气巨头已经将对替代燃料的投资翻了一番，在某些情况下，他们成为了绿色能源的重要投资者。3 必和必拓等传统矿业公司现在是支持清洁技术的稀土金属的最大投资者之一。同时，当今许多知名的科技巨头过去经常因治理不善和对社会问题缺乏关注而受到批评，他们正在努力改善其运营结构，并加大了对当今紧迫社会事务的承诺。
所有这一切的长短在于，出于各种重要原因，ESG因素在投资中至关重要的倡导者赢得了这场战斗。只要看本文顶部的图表就可以看到证据。忽视这些因素不再是一种选择——几乎所有公司都必须寻求降低ESG风险范围。从ESG价值观的角度来看，这显然是件好事，但从寻求回报的角度来看，这可能意味着获得巨额回报的机会减少了。换句话说，对广泛扩散的ESG评分系统给予高评分的公司的风险可能低于同行，但是通过提高对问题的认识而获得的任何巨大收益都可能背后。为什么？因为关于这些公司在环境、社会和治理风险方面如何为未来进行定位的知识现已得到认可，换句话说，是广为人知的。例如，这意味着一家公司实现碳中和或提高其高管团队多样性的计划已经被纳入其股价——当然，这可能会导致估值上升，但也可能减少上行意外惊喜。我们称之为高效的信息市场的运作——如果每个人都知道并且每个人都重视它，那么就不会有非凡的回报可以获得。
随着从低估值到完全定价的转变发生，下一阶段ESG投资的一些经验教训正在浮出水面。对于处在第二个责任投资时代的机构投资者而言，在ESG视角下产生卓越的风险调整后回报的途径将是识别主题、阻碍其可能的轨迹并成功地将影响映射到资产类别、行业、行业和公司动态的能力。没有人需要再怀疑这些广泛现象（其中许多是金融体系的外部现象）能否对金融资产产生强大影响。焦点将不可避免地从宏观转向微观，远离情况会改变吗？这种变化将如何影响社会和企业？
那么，在ESG投资的第二个时代，那些仍然希望在保持对ESG事务的关注的同时仍想获得丰厚回报的投资者会走向何方？
已翻译
31
6
In part, that’s because environmental, social and governance (ESG) pressures are stifling investment in oil and gas.
Investment in oil, gas and coal has been subdued for several years (Display, below). Companies are under pressure to return cash to shareholders and invest in energy transition businesses rather than fossil fuels. What’s more, hydrocarbon energy investments have a long lead time and capex has been insufficient to maintain medium-term production, further complicating transition planning efforts.
Global Investment in Exploration and Production Capex to Remain Subdued
Capex peaked in 2014, bottomed in 2016, but then fell further in 2020 and is expected to be flat over the next five years.
Effectively the world is living off major investment decisions in oil and gas that were made before the oil price fall in 2015. If nothing changes, hydrocarbons markets could tighten even more, triggering even higher-than-expected price hikes.
Investors have been deterred from the energy sector for two reasons. First, perceived ESG concerns may lead to further derating. In fact, deteriorating support for the sector has pushed oil stocks to extremely low valuations with a price/free cashflow ratio near 25-year lows (Display, below). Second, a collapse in demand for hydrocarbons may leave unused reserves “stranded” and effectively worthless.
In our view, stranded asset fears are misplaced. We think energy stock prices are predominantly valued on a discounted cash flow analysis based on existing projects; that means no value is placed on fields that aren’t yet producing or will produce soon. Most oil and gas companies have about a 10-year reserve life - a period in which fossil fuels will be critical for a smooth energy transition and short enough for investors in select oil and gas stocks to receive satisfactory returns. And if investor aversion continues to act as an additional brake on investment, energy prices will remain high, buoying cash returns to shareholders.
$.DJI.US$ $.SPX.US$
Investment in oil, gas and coal has been subdued for several years (Display, below). Companies are under pressure to return cash to shareholders and invest in energy transition businesses rather than fossil fuels. What’s more, hydrocarbon energy investments have a long lead time and capex has been insufficient to maintain medium-term production, further complicating transition planning efforts.
Global Investment in Exploration and Production Capex to Remain Subdued
Capex peaked in 2014, bottomed in 2016, but then fell further in 2020 and is expected to be flat over the next five years.
Effectively the world is living off major investment decisions in oil and gas that were made before the oil price fall in 2015. If nothing changes, hydrocarbons markets could tighten even more, triggering even higher-than-expected price hikes.
Investors have been deterred from the energy sector for two reasons. First, perceived ESG concerns may lead to further derating. In fact, deteriorating support for the sector has pushed oil stocks to extremely low valuations with a price/free cashflow ratio near 25-year lows (Display, below). Second, a collapse in demand for hydrocarbons may leave unused reserves “stranded” and effectively worthless.
In our view, stranded asset fears are misplaced. We think energy stock prices are predominantly valued on a discounted cash flow analysis based on existing projects; that means no value is placed on fields that aren’t yet producing or will produce soon. Most oil and gas companies have about a 10-year reserve life - a period in which fossil fuels will be critical for a smooth energy transition and short enough for investors in select oil and gas stocks to receive satisfactory returns. And if investor aversion continues to act as an additional brake on investment, energy prices will remain high, buoying cash returns to shareholders.
$.DJI.US$ $.SPX.US$
15
4
$.DJI.US$ 如今，能源行业产生的温室气体排放量约占四分之三。显然，可再生能源是世界上唯一有效的全球变暖长期解决方案。但与此同时，能源价格的飙升（如下图所示）给企业和消费者带来了压力。
如果目前的趋势继续下去，我们认为类似的价格飙升将再次出现。而且，如果政策制定者和投资者未能从战略上规划通往可再生世界的旅程，那么将很难达到《巴黎协定》的最终目的地——到2050年实现净零碳排放，并将全球气温的升高限制在1.5摄氏度以内——来阻止气候灾难。
当前和历史分析并不能保证未来的结果。
截至2021年11月8日，数据已正常化至2020年。欧洲天然气以 TTFG1MON OECM 指数（美元）为代表，澳大利亚出口煤炭以 API31MON 指数（美元）为代表，布伦特原油以 CO1 Comdty（美元）为代表，美国天然气以 NG1 Comdty 为代表。
是什么推动了当前的能源紧缩？在一场完美的风暴中，随着世界在 COVID-19 之后恢复工作，需求猛增。但是不寻常的天气模式意味着可再生能源无法按预期运行，而全球碳氢化合物供应受到干扰。投资者对石油和煤炭等化石燃料的厌恶只是当今价格紧缩的次要因素，我们预计，随着一些临时因素的逆转，明年价格紧缩将有所缓和。尽管如此，随着股东和其他利益相关者敦促能源公司限制石油和天然气投资，今天的问题很可能预示着更多的紧缩即将到来。
如果目前的趋势继续下去，我们认为类似的价格飙升将再次出现。而且，如果政策制定者和投资者未能从战略上规划通往可再生世界的旅程，那么将很难达到《巴黎协定》的最终目的地——到2050年实现净零碳排放，并将全球气温的升高限制在1.5摄氏度以内——来阻止气候灾难。
当前和历史分析并不能保证未来的结果。
截至2021年11月8日，数据已正常化至2020年。欧洲天然气以 TTFG1MON OECM 指数（美元）为代表，澳大利亚出口煤炭以 API31MON 指数（美元）为代表，布伦特原油以 CO1 Comdty（美元）为代表，美国天然气以 NG1 Comdty 为代表。
是什么推动了当前的能源紧缩？在一场完美的风暴中，随着世界在 COVID-19 之后恢复工作，需求猛增。但是不寻常的天气模式意味着可再生能源无法按预期运行，而全球碳氢化合物供应受到干扰。投资者对石油和煤炭等化石燃料的厌恶只是当今价格紧缩的次要因素，我们预计，随着一些临时因素的逆转，明年价格紧缩将有所缓和。尽管如此，随着股东和其他利益相关者敦促能源公司限制石油和天然气投资，今天的问题很可能预示着更多的紧缩即将到来。
已翻译
10
3
$.DJI.US$ 在短期内，气候变化事件的市场影响可能更多地集中在当地；例如，与飓风破坏相关的供应链中断或企业根据发生恶劣天气事件的可能性考虑将业务设在哪里。但是，随着我们看到事件的数量、规模或严重程度的增加，随着投资者努力应对天气相关事件的不确定性增加的问题，很可能会产生乘数效应，从而加剧市场波动。从中长期来看，我们认为，将投资者资本分配给寻求解决眼前问题的公司，进而将其资本分配到通过新的创新产品或更清洁、更高效的制造等提供解决方案的投资上，会对市场产生影响。
已翻译
12
4
已翻译
12
3
已翻译
13
9
$NUE.US$ Nue definitely has a premium over the other steel companies because it has had a solid record of paying dividends without cutting them and a stronger balance sheet. It is the JNJ of the steel world as you pay for the quality, balance sheet safety and history. I think all of the steel companies are cheap given their cash flow and growing revenues/earnings.
The caution by many analysts and investors is whether high steel prices are the new norm and if steel companies are now at the top of their cyclical pattern. The 4th quarter is going to be another blowout in earnings by all of the steel entities and likely the 1Q of 2022. The CEO of CLF has said that 2022 will be stronger than 2021. Whether steel prices drop next year or in the future, the balance sheets are drastically improving in real time for all of the companies. They will return more capital to shareholders in the future with increased dividends and buybacks. They will also be able to whether a downturn better in the future with better credit ratings and less debt to deal with.
The writing is on the wall if investors are following the quarterly reports. The industry has consolidated in the last decade and tariffs will keep U.S. steel companies protected from foreign steel. These are high beta stocks so it doesn't surprise me to see huge swings in share prices but the important thing is to keep your eye on the quarterly reports and balance sheets as each quarter is getting stronger with time.
$SPY.US$ $.DJI.US$
The caution by many analysts and investors is whether high steel prices are the new norm and if steel companies are now at the top of their cyclical pattern. The 4th quarter is going to be another blowout in earnings by all of the steel entities and likely the 1Q of 2022. The CEO of CLF has said that 2022 will be stronger than 2021. Whether steel prices drop next year or in the future, the balance sheets are drastically improving in real time for all of the companies. They will return more capital to shareholders in the future with increased dividends and buybacks. They will also be able to whether a downturn better in the future with better credit ratings and less debt to deal with.
The writing is on the wall if investors are following the quarterly reports. The industry has consolidated in the last decade and tariffs will keep U.S. steel companies protected from foreign steel. These are high beta stocks so it doesn't surprise me to see huge swings in share prices but the important thing is to keep your eye on the quarterly reports and balance sheets as each quarter is getting stronger with time.
$SPY.US$ $.DJI.US$
11
4
$.DJI.US$ ESG - sounds like a good way to not make as much as of a return as you could.
6
1
lusy bubb : ESG 投资哪些股票？
Molly wealth talk 楼主 lusy bubb : ESG just means Environment,Society and Governance.Sometimes,you could think it is Sustainable Investing.
I guess, many people's answers are TSLA、BYD and so on.