Private Equity $($PE$)$ and Venture Capital $($VC$)$ investors are often seen as better positioned to drive ESG strategies than traditional public market investors. Which of the following statements correctly explain why PE and VC investors have an ESG advantage? I. Ownership and Control $$ PE firms often have controlling stakes in portfolio companies, but due to their passive investment approach, they have limited influence over ESG decisions. II$.$ Long$-$Term Investment Horizon $$ PE firms typically hold investments for extended periods, allowing them to focus on sustainable value creation and long$-$term ESG improvements. III. Active Management and Resources $$ PE investors primarily provide capital to their portfolio companies but rarely offer strategic guidance or ESG implementation support. IV$.$ Direct Access to Company Data $$ PE firms maintain a close relationship with their portfolio companies, which allows them to collect detailed operational data and enhance ESG transparency. Question $2$Answer a$.$ II and IV b$.$ I, II$,$ III, and IV c$.$ I, III, and IV d$.$ II$,$ III, and IV