Posted on 10/18/2022 3:31:05 AM PDT by EBH
What is the Purpose of an ESG Score for Individuals?
A few different things will determine your personal ESG score, many of which can be discovered via your regular credit report and other public records. Your purchase history and also your sales history will have a dramatic effect on your ESG rating as a person.
The charities that you support will also increase or even decrease your ESG score. The platform will track your personal impact in the environment around you through various means, which will also be used to calculate your individual ESG score.
The purpose behind each person being assigned an individual ESG score is to help reward actions that will help move the world towards sustainability. While there are not currently any downsides to having an ESG score, regardless of how high or how low, there will come a time where too low of a score can result in denials for loans or services similar to the way credit scores currently function.
For now, ESG scores for individuals are used as a tracking tool for companies to monitor behavior. For those who have already started using ESG scores as part of their business model, some people with good scores may notice lucrative offers, easier loan terms, and even targeted packages designed to reward green or sustainable behaviors.
Now that you know a little more about the basics and principles behind an individual ESG score, you may be wondering where to find your rating.
There are a few different places you can check to find your score. If you hold an account at a major financial firm such as Merrill Lynch, your personal ESG score will be listed on your account with your other personal details. You can also check any of the main ESG monitoring companies’ websites.
(Excerpt) Read more at theimpactinvestor.com ...
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