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ADBI Series on Asian and Pacific Sustainable Development STRENGTHENING ENVIRONMENTAL, SOCIAL, AND GOVERNANCE INVESTMENT UNDER COVID-19 Edited by Naoko Nemoto and Lian Liu  ASIAN DEVELOPMENT BANK INSTITUTE ADBI Series on Asian and Pacific Sustainable Development Series Editors: Tetsushi Sonobe and Rohini Pande Economic growth, poverty reduction, and living standards in Asia and the Pacific have improved dramatically in recent decades, but the region now faces a diverse range of new and ongoing challenges. The ADBI Series on Asian and Pacific Sustainable Development highlights innovative research and policy guidance for enabling greater socioeconomic progress amid fast-changing conditions. The Series aims to be a forward-looking and impactful source of knowledge for policy makers and scholars interested in building a prosperous, inclusive, resilient, and sustainable Asia and the Pacific. Strengthening Environmental, Social, and Governance Investment under COVID-19 Edited by Naoko Nemoto and Lian Liu ASIAN DEVELOPMENT BANK INSTITUTE © 2022 Asian Development Bank Institute All rights reserved. ISBN 978-4-89974-253-1 (Print) ISBN 978-4-89974-254-8 (PDF) The views in this publication do not necessarily reflect the views and policies of the Asian Development Bank Institute (ADBI), its Advisory Council, ADB’s Board or Governors, or the governments of ADB members. ADBI does not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequence of their use. ADBI uses proper ADB member names and abbreviations throughout and any variation or inaccuracy, including in citations and references, should be read as referring