1、2022 SURVEY OF INVESTORS,RETIREMENT SAVINGS,AND ESG TA BLE OF CONTENTSExecutive Summary and Key Findings 3Review of Findings 8Environmental 15Social 18Governance 21Average Market Return Expectations 26Demographics 27Methodology 30About the Authors 31About Us 33Contact Information 343EXECUTIVE SUMMAR

2、Y AND KEY FINDINGSOLDER INVESTORS WHO RELY ON RETIREMENT SAVINGS TO PAY FOR LIVING EXPENSES ARE LARGELY OPPOSED TO ESG INITIATIVES AND UNWILLING TO SUFFER FINANCIAL LOSS TO ADVANCE ENVIRONMENTAL AND SOCIAL GOALS.ESG IS OVERWHELMINGLY SUPPORTED BY YOUNG INVESTORS WHO WANT INVESTMENT MANAGERS TO TAKE

3、AN ACTIVE STANCE ON CLIMATE CHANGE,DIVERSITY,AND OTHER STAKEHOLDER INITIATIVES.THE STARK DIFFERENCE ACROSS AGE GROUPS UNDERSCORES THE CHALLENGE INVESTMENT MANAGERS FACE IN BALANCING THE GOALS OF INVESTORS WITH DIFFERENT VIEWS AND FINANCIAL NEEDS.“We see extreme differences in investor support for ES

4、G driven largely by age and stage of life,”says Professor David F.Larcker,Stanford Graduate School of Business and Rock Center for Corporate Governance.“Older investors who are living off their retirement savings are much less concerned with environmental and social issues and much more concerned wi

5、th making sure fund managers focus on generating financial returns to support their spending needs.Older investors oppose fund managers taking activist positions on ESG issues and are unwilling to see their investment balances decline to advance these objectives.”“ESG activism is clearly driven by y

6、ounger investors,”adds Professor Amit Seru,Stanford Graduate School of Business and the Hoover Working Group on Corporate Governance at Stanford University.“Investors under 40 want to see companies make progress across a broad range of environmental and social initiatives and claim to be willing to