"This has fundamental implications for how chief sustainability officers and business leaders work with the broader ecosystem. The higher price of corporate sustainability poses a challenge for ESG investors: they need to ask if they are getting good value for money. It is not only a matter of the value of corporate sustainability anymore, it is also a function of the price you are paying for it. Value for price is key."

[COMMENTARY]Harvard Business School professor George Serafeim continues his outstanding research on ESG investing. As we see in the above quote, in his latest paper,"Public sentiment and the price of corporate sustainability,” Professor Serafeim shows that the stock prices of companies with higher ESG scores frequently trade at premium prices–and therefore ESG-ethically oriented investors need to tread carefully to obtain alpha.
Big data, ESG ratings help find alpha, by George Serafeim, November 2, 2018, Top 1000 Funds, USA.