Figure 2 ESG expands the relationship among asset owners, asset managers and corporations TRADITIONAL Maximize Invest based Maximize financial on financial shareholder performance attributes value ASSET OWNER ASSET MANAGER CORPORATION Align to values Consider ESG Adjust business model and attributes enhance governance Aim for sustainability of the world Aim for sustainability Enhance Corporate & of the investment Social Responsiblity (CSR) ESG Source: Barclays Research 11