000101626 001__ 101626 000101626 005__ 20230519145428.0 000101626 0247_ $$2doi$$a10.1016/j.jclepro.2021.126812 000101626 0248_ $$2sideral$$a123964 000101626 037__ $$aART-2021-123964 000101626 041__ $$aeng 000101626 100__ $$0(orcid)0000-0002-2525-9049$$aAlda, Mercedes$$uUniversidad de Zaragoza 000101626 245__ $$aThe environmental, social, and governance (ESG) dimension of firms in which social responsible investment (SRI) and conventional pension funds invest: the mainstream SRI and the ESG inclusion 000101626 260__ $$c2021 000101626 5060_ $$aAccess copy available to the general public$$fUnrestricted 000101626 5203_ $$aThis study seeks to understand whether the mainstream SRI leads to similar investment decisions in conventional and SRI pension funds. The SRI is expanding beyond specialised SRI funds and increasingly conventional pension funds are integrating firms with certain ESG criteria, in line with legitimacy-theory premises. This phenomenon raises the questions whether SRI and conventional portfolios are converging and whether SRI funds preserve their ethical essence. Using fund holdings and ESG-stock scores, we examine the inclusion level of ESG firms by UK conventional and SRI domestic equity pension funds, taking into account the investment in controversial (socially-sensitive) firms (i.e. related to tobacco, alcohol, or gambling industries, among others). We find that conventional funds consider the firms in which SRI funds invest to integrate ESG criteria. Nonetheless, SRI funds maintain larger ESG-firm standards, preserving the ethical purpose, and larger ESG standards in SRI funds do not affect performance. Our results also show that the ESG integration into conventional funds evolves over time. 000101626 536__ $$9info:eu-repo/grantAgreement/ES/DGA/S38-17R$$9info:eu-repo/grantAgreement/ES/MCIU-AEI-FEDER/RTI2018-093483-B-I00$$9info:eu-repo/grantAgreement/ES/UZ/JIUZ-2020-SOC-02 000101626 540__ $$9info:eu-repo/semantics/openAccess$$aby-nc-nd$$uhttp://creativecommons.org/licenses/by-nc-nd/3.0/es/ 000101626 590__ $$a11.072$$b2021 000101626 592__ $$a1.921$$b2021 000101626 594__ $$a15.8$$b2021 000101626 591__ $$aGREEN & SUSTAINABLE SCIENCE & TECHNOLOGY$$b5 / 47 = 0.106$$c2021$$dQ1$$eT1 000101626 593__ $$aEnvironmental Science (miscellaneous)$$c2021$$dQ1 000101626 591__ $$aENVIRONMENTAL SCIENCES$$b24 / 279 = 0.086$$c2021$$dQ1$$eT1 000101626 593__ $$aStrategy and Management$$c2021$$dQ1 000101626 591__ $$aENGINEERING, ENVIRONMENTAL$$b9 / 55 = 0.164$$c2021$$dQ1$$eT1 000101626 593__ $$aIndustrial and Manufacturing Engineering$$c2021$$dQ1 000101626 655_4 $$ainfo:eu-repo/semantics/article$$vinfo:eu-repo/semantics/acceptedVersion 000101626 7102_ $$14002$$2230$$aUniversidad de Zaragoza$$bDpto. Contabilidad y Finanzas$$cÁrea Economía Finan. y Contab. 000101626 773__ $$g298 (2021), 126812 [11 pp.]$$pJ. clean. prod.$$tJournal of Cleaner Production$$x0959-6526 000101626 8564_ $$s944540$$uhttps://zaguan.unizar.es/record/101626/files/texto_completo.pdf$$yPostprint 000101626 8564_ $$s2565525$$uhttps://zaguan.unizar.es/record/101626/files/texto_completo.jpg?subformat=icon$$xicon$$yPostprint 000101626 909CO $$ooai:zaguan.unizar.es:101626$$particulos$$pdriver 000101626 951__ $$a2023-05-18-14:14:12 000101626 980__ $$aARTICLE