Citywire Professional Buyer, July 2020:  “While not dismissing the importance of investing with a strong ESG lens in developed markets, I’d argue that strong ESG credentials are extremely important criteria when considering investments in emerging markets,” said Jennifer Leonard, [executive] director of asset manager due diligence at Cornerstone’s New York City office on Fifth Avenue.

“Given lower levels of transparency, sometimes weaker regulatory environments with respect to environmental and labor standards, and less of a focus on strong corporate governance in many markets, there is an increased capacity for corruption, environmental and social issues and fraud at the corporate level than is typically seen in more developed markets. Investments rooted in strong ESG criteria help guard against exposure to these risks.”