Food processingsectorESG analysis for investmentMay 28th, 2010 Presented by Carole Crozat<br />
2<br />Table of contents<br />SRI funds : a comprehensive approach<br />Mainstream funds : key ESG criteria<br />
3<br />Protection of the citizen/consumer & his environment<br />Allianz Citizen Care SRI<br />1. SRI funds : a comprehens...
AGF Valeurs Durables
Equity market SRI product (best-in-class)
Allianz Euro Credit SRI
Bond Market SRI product
Allianz Securicash SRI
Money Market SRI product</li></ul>Thematic funds:<br /><ul><li>AGF Euréco
Thematic fund: Environment
Allianz Citizen Care SRI
Thematic fund: Protection of the citizen/consumer and his environment</li></ul>Global SRI Approach<br />AGF Valeurs Durabl...
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The Future of Sustainability Reporting in the Food Processing Sector, Presented by Crozat

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The Future of Sustainability Reporting in the Food Processing Sector, Presented by Crozat

  1. 1. Food processingsectorESG analysis for investmentMay 28th, 2010 Presented by Carole Crozat<br />
  2. 2. 2<br />Table of contents<br />SRI funds : a comprehensive approach<br />Mainstream funds : key ESG criteria<br />
  3. 3. 3<br />Protection of the citizen/consumer & his environment<br />Allianz Citizen Care SRI<br />1. SRI funds : a comprehensive approach<br />A SRI range present in all asset classes<br /><ul><li>A wide range of mutual funds managed in accordance to the SRI process: 4.0 bn € (31/12/09)
  4. 4. AGF Valeurs Durables
  5. 5. Equity market SRI product (best-in-class)
  6. 6. Allianz Euro Credit SRI
  7. 7. Bond Market SRI product
  8. 8. Allianz Securicash SRI
  9. 9. Money Market SRI product</li></ul>Thematic funds:<br /><ul><li>AGF Euréco
  10. 10. Thematic fund: Environment
  11. 11. Allianz Citizen Care SRI
  12. 12. Thematic fund: Protection of the citizen/consumer and his environment</li></ul>Global SRI Approach<br />AGF Valeurs Durables<br />Allianz Euro Crédit SRI<br />Allianz Sécuricash SRI<br />New<br />Environment<br />AGF Euréco<br />New<br />
  13. 13. 4<br />1. SRI funds : a comprehensive approach<br />SRI resources<br />Internal resources : 10 managers and analysts<br />Extra financial rating agencies : Vigeo, Eiris, Innovest, Oekom<br />SRI Orientation Committee composed of 14 members, 10 of whom are independent<br />SRI Internal Committee : coordination of SRI equity / fixed income research<br />Brokers’ SRI analysis (SG, Cheuvreux, Oddo...)<br />Management and CSR supervisors (corporate social responsibility) / Sustainable development firms<br />Stakeholders (NGOs, unions…)<br />Authorities and multi-stakeholders initiatives (eg. Global Reporting Initiative or Responsible Investment Forum, Initiative for the Transparency in the Mining Industries)<br />
  14. 14. 5<br />1. SRI funds : a comprehensive approach<br />Investment process, overview<br />Implementation<br />In portfolio<br />Specific <br />APT<br />risk<br />constraints<br />adjustment<br />SIMULATION<br />4<br />Portfolio Construction <br />≈50-70 stocks<br />Ex-ante risk <br />Construction<br />monitoring<br />3<br />Eligible SRI stocks<br />Stocks selection<br />universe<br />≈160-180 stocks<br />ESG rating<br />Steps<br />Analysis of financial and extra financial criteria<br />Management team + SRI analyst / PM<br />External financial analysis<br />Selected rating agency<br />2<br />Stocks analysis<br />-<br />’<br />≈230-250 stocks<br />’<br />SCREENED INVESTMENT UNIVERSE<br />HR filter<br /><ul><li>HUMAN RIGHTS</li></ul>- LIQUIDITY (>€1bn)<br /> Definition of the investment universe<br />1<br />INVESTMENT UNIVERSE : EUROLAND<br />≈300 stocks<br />
  15. 15. 6<br />1. SRI funds : a comprehensive approach<br />Analysis of the companies’ ESG positioning<br />External research (NGO, media)<br />Internal Research<br />(company meetings)<br />Extra-financial rating agencies (Vigeo, EIRIS, Innovest)<br />Specific sources of information<br />Corporate governance<br />Environment <br />Social development<br />Business behavior<br />Humans right respectDiscriminating criteria<br />20 %<br />30 % on average (from 20 % to 40 %)<br />Evaluation of 5 ESG criteria on a scale from 0 to 4 with a sector approach<br />30 % on average (from 20 % to 40 %)<br />20% on average (from 10 % to 30%)<br />AllianzGI France ESG<br />database<br />AllianzGI France ESG Rating<br />(0 to 4)<br />
  16. 16. 7<br />1. SRI funds : a comprehensive approach<br />The extra-financial criteria in detail : the Food Processing sector<br />
  17. 17. 8<br />Material ESG issues in the Food sector<br />2. Mainstream funds : key ESG criteria<br />Environment<br />Social<br />Governance<br />Protection of biodiversity <br />(sustainable agriculture and fishing, GMOs)<br />Human Rights issues in the supply chain<br />Food safety<br />Product waste management <br />(packaging disposal)<br />Management of restructurings<br />Promotion of healthy products / information and marketing<br />Impacts of transportation <br />Access to food<br />Protection of water resources <br />Key areas addressed by the Food Producers Sector Supplement<br />
  18. 18. 9<br />Company screening on major ESG issues<br />Company 1<br />Company 2<br />Company 3<br />Company 4<br />Company 5<br />Company 6<br />Company 7<br />Company 8<br />Company 9<br />Company 10<br />Company 11<br />Protection of biodiversity <br />Product waste management <br />Impacts of transportation <br />Protection of water resources <br />Environment<br />Human Rights issues in the supply chain<br />Management of restructurings<br />Food safety<br />Social<br />Promotion of healthy products / information and marketing<br />Access to food<br />Governance<br />
  19. 19. 10<br />FPSS : how does it fit the investor’s needs ?<br />2. Mainstream funds : key ESG criteria<br />Environment<br />Social<br />Governance<br />Protection of biodiversity <br />(sustainable agriculture and fishing, GMOs)<br />Human Rights issues in the supply chain<br />Food safety<br />Product waste management <br />(packaging disposal)<br />Management of restructurings<br />Promotion of healthy products / information and marketing<br />Impacts of transportation <br />Access to food<br />Protection of water resources <br />Key areas addressed by the Food Producers Sector Supplement<br />
  20. 20. 11<br />Food Producers Sector Supplement : some key inputs<br />Protection of biodiversity <br />Product waste management <br />Impacts of transportation <br />Protection of water resources <br />Environment<br />Human Rights issues in the supply chain<br />Management of restructurings<br />Food safety<br />Social<br />Promotion of healthy products / information and marketing<br />Access to food<br />Governance<br />FP 1<br />EN 11<br />FP 2<br />EN 13<br />FP 7<br />FP 7<br />FP 3<br />FP 6<br />FP 5<br />FP 4<br />FP 8<br />
  21. 21. 12<br />

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