3 Stocks Where Shareholders Have Improved ESG

If shareholders in a company discover it is polluting the environment or mistreating its staff, should they voice their concerns or simply exit the investment?

Aviva Investors 3 October, 2018 | 2:38PM

This article is part of Morningstar's "Perspectives" series, written by third-party contributors. Here, Steve Waygood, Aviva Investors’ chief responsible investment officer, argues it’s better to talk than walk to address poor corporate behaviour.

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The economist Albert Hirschman once argued people have two different ways of responding to disappointment: they either stay put and complain or vote with their feet. Hirschman called these options ‘voice’ and ‘exit’. An oppressed citizen may start a protest or emigrate to another country. Unhappy customers may return their goods for a refund or simply start shopping elsewhere.

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The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Enel SpA7.96 EUR0.00
Exxon Mobil Corp44.97 USD0.00
Samsung Electronics Co Ltd58,200.00 KRW0.00

About Author

Aviva Investors  is Aviva's global asset management business

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