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The Signal in the Noise

Florian Berg, Jason Jay, Julian Kölbel, Roberto Rigobon
CESifo, Munich, 2023

EconPol Forum 24 (1), 23-27
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  • The information that ESG raters produce is valuable
  • Assessing ESG performance is conceptually challenging because we need to measure contextuality, additionality, and preferences
  • ESG raters, specialized ESG data providers, and aggrega- tors can harness economies of scale
  • Regulators should enforce transparency of measurement and aggregation practices to increase competition between ESG raters to incentivize improvement

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