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CSR Forum 2015 Responsible Investment Banking, Positive Impacts und
CSR Forum 2015 Responsible Investment Banking, Positive Impacts und
The crisis is parked in government debt, which is a global (not a
The crisis is parked in government debt, which is a global (not a
?
?
The global debt crisis is a global crisis Gross public debt and fiscal
The global debt crisis is a global crisis Gross public debt and fiscal
G
G
What is ESG
What is ESG
ESG What are the benefits of ESG
ESG What are the benefits of ESG
EFFAS KPIs for ESG How to measure ESG
EFFAS KPIs for ESG How to measure ESG
EFFAS Non Financial Reporting KPIs
EFFAS Non Financial Reporting KPIs
The Crisis and Economic Responsibility
The Crisis and Economic Responsibility
www
www
Thank you for your attention
Thank you for your attention
EFFAS Non Financial Reporting KPIs
EFFAS Non Financial Reporting KPIs
e.g. Possible Internal Investment process How to measure ESG
e.g. Possible Internal Investment process How to measure ESG
ESG Advantages of the capital market
ESG Advantages of the capital market

: Apple 09 03 2015 . : RNG Management. : Apple 09 03 2015 .ppt. zip-: 2854 .

Apple 09 03 2015

Apple 09 03 2015 .ppt
1 CSR Forum 2015 Responsible Investment Banking, Positive Impacts und

CSR Forum 2015 Responsible Investment Banking, Positive Impacts und

SRI

Fritz Mostboeck, CEFA Deputy Chairman, EFFAS Co-Chairman, EFFAS CESG Head of Research, Erste Group (Austria)

Ludwigsburg 21 April, 2015

EFFAS - The European Federation of Financial Analysts Societies

2 The crisis is parked in government debt, which is a global (not a

The crisis is parked in government debt, which is a global (not a

regional) problem...

(1.) Financial crisis 2007/08

(2.) Economic crisis 2009/10

(3.) Debt crisis until now

Sources: Erste Group Research, The Banker

3 ?

?

The global crisis has caught up with us again, holding us in a tight lock

(4.)

(3.) Debt crisis

(2.) Economic crisis Loss of trust in the financial system Lack of liquidity Sectors and real economy negatively affected Bail-out packages by central banks and governments

(1.) Financial crisis

(4.)

Deficit

Austerity measures

Debt

Uncertainty

Volatility

Loss of confidence

Panic and fear on the financial markets Debt crisis will be a sustainable challenge for us

Source: Erste Group Research

4 The global debt crisis is a global crisis Gross public debt and fiscal

The global debt crisis is a global crisis Gross public debt and fiscal

deficit to GDP

Source: Erste Group Research, European Commission, ratings by S&P

5 G

G

E

S

We do have a lot of unsolved problems worldwide

Climate change, storms

Human offenses

War, crises

Governance

Pollution

Trust

On a global scale, the discussion is still at the beginning!

etc.,..

Source: Fritz Mostboeck for EFFAS

6 What is ESG

What is ESG

Its not a communist approach

not a religion

not a pseudo-moralistic view

not a green policy concept

not a bill of goods

not an I-know-it-better approach

Tool that seeks to respond to the failures of the past and prevent those of the future. ESG should be understood as everyones responsibility (extensive stakeholder approach).

Source: Fritz Mostboeck for EFFAS

7 ESG What are the benefits of ESG

ESG What are the benefits of ESG

ESG is not a marketing gag. Differentiation effectively creates: 1. Competitive advantage, 2. Higher reputation, 3. Confidence.

These ingredients are the basis for the sustainable success of a company. Therefore, applied ESG increases a companys value.

8 EFFAS KPIs for ESG How to measure ESG

EFFAS KPIs for ESG How to measure ESG

Environmental

Social

Governance

Stakeholder

Facility certification

Energy efficiency

Emissions

CapEx

Leakages & remediation

Waste scope

Environmental compatibility

Staff turnover

Internal procedures

Risks

Training & qualification

Maturity workforce

Corruption

Remuneration policy

Fatalities, injuries & safety

Innovation

Revenues new products

Production shortfall

Customer retention

Costumer satisfaction

Source: Fritz Mostboeck for EFFAS

9 EFFAS Non Financial Reporting KPIs

EFFAS Non Financial Reporting KPIs

EFFAS/ DVFA Report on Sector KPIs for ESG

Setting of ESG standards in the financial industry

Translation of different E, S & G areas into characteristics Setting of defined KPIs Hard & soft facts can be evaluated by concrete ratios Additional qualitative approach through non financial indicators

10 The Crisis and Economic Responsibility

The Crisis and Economic Responsibility

?VFA/ EFFAS Publication Series

?VFA Reports Economic Responsibility

(1.) www.ovfa.at, (2.) www.dvfa.de, (3.) www.effas.net, (4.) www.effas-esg.com, (5.) www.aciia.org, (6.) www.sustainablefinancialmarkets.net, (7.) www.hksi.org.

Source: Fritz Mostboeck for EFFAS

11 www

www

effas.com

Thank you for your attention!

EFFAS The European Federation of Financial Analysts Societies Frankfurt am Main Mainzer Landstrasse 47a 60329 Frankfurt am Main Germany Tel. +49 69 26 4848 300 Fax. +49 69 26 4848 335 Email: office@effas.com Internet: www.effas.com

12 Thank you for your attention

Thank you for your attention

and think on a sustainable base.

13 EFFAS Non Financial Reporting KPIs

EFFAS Non Financial Reporting KPIs

EFFAS/DVFA KPIs as backbone of STOXX ESG Global Leader index family

Base for the calculation of international ESG indices

Done together with - the globally recognized index service provider - STOXX Index Group Ltd. Overall STOXX Global ESG Leader Index Individual E, S & G specialized STOXX indices Benchmark allowing investors to fine tune their sustainable investments

Source: STOXX Ltd.

14 e.g. Possible Internal Investment process How to measure ESG

e.g. Possible Internal Investment process How to measure ESG

Conventional financial analysis (research)

Alcohol, Tobacco, Gambling, Defense/weapons, Animal testing, Nuclear energy, Gene technology, Environment, Human rights, Labor relations, Employment equality, Governance (varies from approach to approach)

Additional criteria for exclusion

Analysis of criteria

Own databases, Annual & sustainable reporting, Websites, Surveys, etc. (hard fact & soft fact analysis)

under a sustainable long-term stakeholder perspective: Clients & products, Employees, Society, Suppliers & partners, Investors

ESG Ratings, investment recommendations or portfolio/ index weightings

Source: Fritz Mostboeck for EFFAS

15 ESG Advantages of the capital market

ESG Advantages of the capital market

> Wide transparency is honoured, lacking is sanctioned, > Soft facts are measured by the share price as well, > ESG and the capital market stands for performance orientation, > Generation of a common good, > Efficient allocation of financial resources, > Capital markets are the best-suited medium for a comprehensive evaluation (including soft facts) because: > Stocklisted companies => represent the bulk of global GDP (~85%, bonds are ~140%/ government- and corporate bonds). Major disadvantage for the moment: Investor awareness, but: -> public pressure is - from different sides - increasing.

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