"Renaissance′s argument thereafter is that, even if emerging markets have far lower ESG scores, directing capital their way allows for the highest overall rate of improvement, and so the greatest ethical utility. This is, unsurprisingly, an argument for more investment in EM."

[COMMENTARY]The argument presented here is like the idea of investing in companies who are just beginning to engage in ESG seriously to take advantage of their possible rapid stock price as they’re identified as a potential ’high’ ESG company. It’s recognized by many investors that high ESG scoring companies also now have a premium to their stock prices.
Green finance: a contrarian take, by Thomas Hale, November 15, 2018, FT Advisor, UK.