Responsible investment (RI) is on the rise. RI refers to investments aiming to maximize risk-adjusted return while taking social, environmental, and moral concerns into account (Nilsson, 2008; Rivoli, 2003). In the United States, RI assets grew more than 1100% between 1995 and 2016 to US$8.72 trillion (Forum for Sustainable and Responsible Investment, 2016). In Europe, total RI assets under management reached approximately €10 trillion at the end of 2015 (Eurosif, 2016).