Q1 2020 7 Contributors Letter From the Editor 8 Letter From the Board What's Ahead for ESG 6 Dispatches Phillips Curve 10 From Shareholders to Stakeholders Ivory Towers 11 In Good Company 13 Policy EU Prioritizes Sustainable Investing Global Briefs 17 21 23 Americas Greater Europe Asia Spotlight Seeing the Light Companies focus on their ESG risks to build profitable businesses for the long term. 25 32 34 Why We Incorporated ESG Into Our Practice Risk at Heart of Improved Sustainability Rating 3