By Michael Hasenstab, Ph.D., Executive Vice President, Portfolio Manager, Chief Investment Officer, Templeton Global Macro and Calvin Ho, Ph.D., Senior Vice President, Portfolio Manager, Director of Research, Templeton Global Macro
In early 2018, Templeton Global Macro ((TGM)) published Global Macro Shifts issue 9-Environmental, Social and Governance Factors in Global Macro Investing [GMS-9]. The paper explored how we evaluate environmental, social and governance ((ESG)) factors in our macroeconomic research process and described the process of codifying the team's research discussions into quantifiable scores. GMS-9 formally introduced our proprietary ESG scoring system, the Templeton Global