This document discusses how environmental, social, and governance (ESG) factors can impact investment portfolios if not properly managed. It uses two case studies of oil companies, BP and Petrobras, to illustrate how ESG risks materialized in major accidents and affected share prices. The document also summarizes Mercer's research on ESG integration among asset managers, finding that leading managers have dedicated resources, structured processes, and long-term investment horizons to systematically identify and address ESG risks. Effective stewardship of ESG factors is an important part of protecting shareholder value over the long run.
Een moeilijke groep werknemers om grip op te krijgen is de Short Term Assignees. Een kort project over de grens van een paar weken wordt zomaar als gevolg van het belang voor de business verlengd tot een paar maanden. Vaak zijn de short termers niet bekend bij HR dan wel de fiscale afdeling. In het buitenland is of zou wel de fiscale, juridische en immigratiewetgeving van het betreffende land van toepassing kunnen zijn.
Hoe zorgt u er voor dat uw organisatie ook voor deze groep werknemers compliant is op belasting, sociale zekerheid, immigratie en payroll gebied en aan alle formaliteiten voldoet zodat geen risico wordt gelopen? Wat zijn de trends op basis van de policies voor deze specifieke groep en wat zijn de uitdagingen en mogelijkheden? Hoe ga je om met onkosten en hogere kosten van levensonderhoud?
The Evolution of Aggregation and Reporting of ESG Data: Observations from a L...Sustainable Brands
Bloomberg is a rather unique player in the sustainability space – it is an aggregator and provider of ESG data, a media outlet following and analyzing key developments in the space, and a company with sustainability-minded leadership that just issued an impact report following both GRI and SASB reporting standards, all in one. In this presentation, Bloomberg LP’s Global Head of Sustainable Business & Finance Curtis Ravenel will share his latest observations on overall progress in aggregating and reporting ESG performance data.
Election results in the U.S. and U.K., and 2017 elections in several European countries, may fuel more of an inward focus, tamping down aggressive climate-change goals and other environmental, social and governance (ESG) efforts.
Etude PwC sur l'intégration de facteurs ESG dans les activités de fusions-acq...PwC France
http://pwc.to/15JdJxV
De juin à octobre 2012, PwC a mené une étude visant à mesurer les attitudes de sociétés acquéreuses envers l’évaluation des risques et opportunités environnementaux, sociaux et de gouvernance (ESG) dans leurs activités de fusions-acquisitions. Pour réaliser cette enquête de la part de l’initiative PRI, PwC s’est entretenu avec 16 acquéreurs dans divers secteurs en approfondissant le thème de l’intégration de facteurs ESG dans le processus de due diligence, le prix de l’acquisition, les accords d’achat et de vente, et la période suivant l’acquisition.
Een moeilijke groep werknemers om grip op te krijgen is de Short Term Assignees. Een kort project over de grens van een paar weken wordt zomaar als gevolg van het belang voor de business verlengd tot een paar maanden. Vaak zijn de short termers niet bekend bij HR dan wel de fiscale afdeling. In het buitenland is of zou wel de fiscale, juridische en immigratiewetgeving van het betreffende land van toepassing kunnen zijn.
Hoe zorgt u er voor dat uw organisatie ook voor deze groep werknemers compliant is op belasting, sociale zekerheid, immigratie en payroll gebied en aan alle formaliteiten voldoet zodat geen risico wordt gelopen? Wat zijn de trends op basis van de policies voor deze specifieke groep en wat zijn de uitdagingen en mogelijkheden? Hoe ga je om met onkosten en hogere kosten van levensonderhoud?
The Evolution of Aggregation and Reporting of ESG Data: Observations from a L...Sustainable Brands
Bloomberg is a rather unique player in the sustainability space – it is an aggregator and provider of ESG data, a media outlet following and analyzing key developments in the space, and a company with sustainability-minded leadership that just issued an impact report following both GRI and SASB reporting standards, all in one. In this presentation, Bloomberg LP’s Global Head of Sustainable Business & Finance Curtis Ravenel will share his latest observations on overall progress in aggregating and reporting ESG performance data.
Election results in the U.S. and U.K., and 2017 elections in several European countries, may fuel more of an inward focus, tamping down aggressive climate-change goals and other environmental, social and governance (ESG) efforts.
Etude PwC sur l'intégration de facteurs ESG dans les activités de fusions-acq...PwC France
http://pwc.to/15JdJxV
De juin à octobre 2012, PwC a mené une étude visant à mesurer les attitudes de sociétés acquéreuses envers l’évaluation des risques et opportunités environnementaux, sociaux et de gouvernance (ESG) dans leurs activités de fusions-acquisitions. Pour réaliser cette enquête de la part de l’initiative PRI, PwC s’est entretenu avec 16 acquéreurs dans divers secteurs en approfondissant le thème de l’intégration de facteurs ESG dans le processus de due diligence, le prix de l’acquisition, les accords d’achat et de vente, et la période suivant l’acquisition.
An emerging consensus
A consensus is developing around
these principles about what
ESG is, and the Global Reporting
Initiative’s guidelines further
formalise the process. Yet actual ESG
implementation and measurement
are far from uniform. Its subjective
nature leads to management issues,
with widespread outsourcing of stockfiltering
and ongoing monitoring.
Many asset owners are signing up
to existing ESG standards. US$59trn
in global assets are now covered by
the United Nation’s six Principles for
Responsible Investment (UNPRI).
There is some consultation beginning
around compliance, with the
potential to remove signatories that
have shown no practice change or
improvement outcomes with regard
to the UNPRI.
The world’s leading pension funds, superannuation funds and insurance companies are rethinking their strategies in order to help meet their long-term commitments, according to a report by BNP Paribas Securities Services and the Economist Intelligence Unit.
The GARP Buy Side Risk Managers Forum published Risk Principles for Asset Managers, a statement of best-practices guidelines prepared by senior risk management executives of leading investment firms. The Risk Principles document is updated and enhanced from a previous version published in 2008.
ESG Is No Longer Optional. What Every Private Equity Manager Should KnowNavatar
Recording: https://www.youtube.com/watch?v=K5NBmZs84gY&feature=youtu.be
Responsible investment (or ESG), once a do-good sideshow, is becoming mainstream. Private equity managers must consider a host of issues, from gender diversity to carbon emissions, or risk losing investor capital and deals. The trend is only growing.
The challenge today is formalizing ESG policies to meet heightened standards. In this webinar, Navatar in conjunction with Invest Europe, brought together leading ESG thinkers from the industry to discuss how GPs should present their ESG framework to investors, what to consider during pre-investment due diligence, and ultimately portfolio monitoring and exit.
We address:
- Why your ESG strategy can make or break a deal
- What LPs want to see in your policies/practices
- Bringing your ESG DDQ to the next level
-Automation, plastics and other emerging ESG risks
Speakers:
- Maaike van der Schoot, Responsible Investment Officer, AlpInvest Partners
- James Holley, Head of ESG, Bridgepoint
- Graeme Ardus, Head of ESG, Triton Partners
- Jaideep Das, Partner, ERM
The “Navigating Muddy Waters” report series represents a collaboration of work between WWF, Trucost, Carbon Tracker and SinCo that looks at the issues of carbon and water risks to investors as well as sustainable investment opportunities. Climate change and water scarcity are two of the main drivers that governments, civil society and business need to seriously address. As a significant provider of financial capital, institutional investors play an important role in our ability to shape this transformation. On the other hand, these same investors face material financial risks if this transformation does not take place. The aim of the reports is to provide empirical research to investors in and regulators of the securities markets that can guide policy and investment strategies to support the transition to a resource efficient, low-carbon, resilient and equitable global economy.
URL for reports
http://www.wwf.org.za/?7180/Investors-highly-exposed-to-climate-change-and-freshwater-risks
http://www.sincosinco.com/portfolio-climate-risks.php
Informe completo realizado por la UNEP FI donde se definen y analizan las métricas a tener en cuenta para categorizar una edificación como construcción sostenible.
Corporate Governance Trends, Regulatory Changes & their Impact on Investment ...OTC Markets Group Inc.
This webinar focuses on a discussion regarding how changes in corporate governance approached by the institutional investor communities can impact international investor relations strategies for global companies. Learn practical advice on how the corporate governance approach of institutional investors can impact your investor targeting goals. You can view a recording of the webinar here: https://youtu.be/bkC2Wb3lo5Y
Er zijn volop ontwikkelingen op het gebied van eigenrisicodragen WGA.
De grote verzekeraars hebben aangekondigd de premies te moeten gaan verhogen, omdat de aanvankelijke schadelast grof is onderschat.
De polissen die binnenkort expireren krijgen zeer waarschijnlijk te maken met de aangekondigde verhoging.
Herkeuringen door het UWV vinden niet of nauwelijks plaats, waardoor uw WGA schade onnodig lang doorloopt.
Ook ligt er een concept wetsvoorstel in de eerste kamer dat u als werkgever verantwoordelijk maakt voor arbeidsongeschiktheidsuitkeringen van zogenaamde vangnetters (werknemers met een tijdelijk dienstverband).
Heeft u als Eigen Risico Drager wel genoeg grip op (ex)werknemers die een WGA uitkering ontvangen? U hoeft als Eigen Risco Drager niet af te wachten op het UWV of uw verzekeraar maar u kunt uw re-integratie en daarmee uw financiële verplichtingen positief beïnvloeden en onder controle krijgen.
An emerging consensus
A consensus is developing around
these principles about what
ESG is, and the Global Reporting
Initiative’s guidelines further
formalise the process. Yet actual ESG
implementation and measurement
are far from uniform. Its subjective
nature leads to management issues,
with widespread outsourcing of stockfiltering
and ongoing monitoring.
Many asset owners are signing up
to existing ESG standards. US$59trn
in global assets are now covered by
the United Nation’s six Principles for
Responsible Investment (UNPRI).
There is some consultation beginning
around compliance, with the
potential to remove signatories that
have shown no practice change or
improvement outcomes with regard
to the UNPRI.
The world’s leading pension funds, superannuation funds and insurance companies are rethinking their strategies in order to help meet their long-term commitments, according to a report by BNP Paribas Securities Services and the Economist Intelligence Unit.
The GARP Buy Side Risk Managers Forum published Risk Principles for Asset Managers, a statement of best-practices guidelines prepared by senior risk management executives of leading investment firms. The Risk Principles document is updated and enhanced from a previous version published in 2008.
ESG Is No Longer Optional. What Every Private Equity Manager Should KnowNavatar
Recording: https://www.youtube.com/watch?v=K5NBmZs84gY&feature=youtu.be
Responsible investment (or ESG), once a do-good sideshow, is becoming mainstream. Private equity managers must consider a host of issues, from gender diversity to carbon emissions, or risk losing investor capital and deals. The trend is only growing.
The challenge today is formalizing ESG policies to meet heightened standards. In this webinar, Navatar in conjunction with Invest Europe, brought together leading ESG thinkers from the industry to discuss how GPs should present their ESG framework to investors, what to consider during pre-investment due diligence, and ultimately portfolio monitoring and exit.
We address:
- Why your ESG strategy can make or break a deal
- What LPs want to see in your policies/practices
- Bringing your ESG DDQ to the next level
-Automation, plastics and other emerging ESG risks
Speakers:
- Maaike van der Schoot, Responsible Investment Officer, AlpInvest Partners
- James Holley, Head of ESG, Bridgepoint
- Graeme Ardus, Head of ESG, Triton Partners
- Jaideep Das, Partner, ERM
The “Navigating Muddy Waters” report series represents a collaboration of work between WWF, Trucost, Carbon Tracker and SinCo that looks at the issues of carbon and water risks to investors as well as sustainable investment opportunities. Climate change and water scarcity are two of the main drivers that governments, civil society and business need to seriously address. As a significant provider of financial capital, institutional investors play an important role in our ability to shape this transformation. On the other hand, these same investors face material financial risks if this transformation does not take place. The aim of the reports is to provide empirical research to investors in and regulators of the securities markets that can guide policy and investment strategies to support the transition to a resource efficient, low-carbon, resilient and equitable global economy.
URL for reports
http://www.wwf.org.za/?7180/Investors-highly-exposed-to-climate-change-and-freshwater-risks
http://www.sincosinco.com/portfolio-climate-risks.php
Informe completo realizado por la UNEP FI donde se definen y analizan las métricas a tener en cuenta para categorizar una edificación como construcción sostenible.
Corporate Governance Trends, Regulatory Changes & their Impact on Investment ...OTC Markets Group Inc.
This webinar focuses on a discussion regarding how changes in corporate governance approached by the institutional investor communities can impact international investor relations strategies for global companies. Learn practical advice on how the corporate governance approach of institutional investors can impact your investor targeting goals. You can view a recording of the webinar here: https://youtu.be/bkC2Wb3lo5Y
Er zijn volop ontwikkelingen op het gebied van eigenrisicodragen WGA.
De grote verzekeraars hebben aangekondigd de premies te moeten gaan verhogen, omdat de aanvankelijke schadelast grof is onderschat.
De polissen die binnenkort expireren krijgen zeer waarschijnlijk te maken met de aangekondigde verhoging.
Herkeuringen door het UWV vinden niet of nauwelijks plaats, waardoor uw WGA schade onnodig lang doorloopt.
Ook ligt er een concept wetsvoorstel in de eerste kamer dat u als werkgever verantwoordelijk maakt voor arbeidsongeschiktheidsuitkeringen van zogenaamde vangnetters (werknemers met een tijdelijk dienstverband).
Heeft u als Eigen Risico Drager wel genoeg grip op (ex)werknemers die een WGA uitkering ontvangen? U hoeft als Eigen Risco Drager niet af te wachten op het UWV of uw verzekeraar maar u kunt uw re-integratie en daarmee uw financiële verplichtingen positief beïnvloeden en onder controle krijgen.
Ook behoefte aan achtergrondinformatie op HR-gebied? Mercer Signaal is een (hardcopy) magazine dat een verhelderende visie op de meest uiteenlopende HR-zaken geeft.
Heeft u beleidsmatig of uitvoerend te maken met pensioenen? Wordt u als lid van een Ondernemingsraad gevraagd om instemming met het aanpassen van pensioenen? Of ziet u door de bomen het bos niet meer?
Dan brengt Mercer u via de cursus pensioenen de basiskennis van pensioenen bij. U krijgt tijdens de cursus pensioenen in één dag een goed zicht op de vaak ingewikkelde, ondoorzichtige structuur van ons pensioenstelsel en uw pensioenregeling.
Ook behoefte aan achtergrondinformatie op HR-gebied? Mercer Signaal is een (hardcopy) magazine dat een verhelderende visie op de meest uiteenlopende HR-zaken geeft.
Eigen risicodragen is de WGA-risico’s op een andere manier verzekeren. In veel gevallen kan het fors goedkoper en de premie is stabiel gedurende contractperiode. Maar het vereist wel gedegen onderzoek naar alle risicofactoren op korte en middellange termijn om tot een gewogen en gefundeerd besluit te komen
Presentatie: Strategische Workforce Planning; Nu anticiperen op de uitdagingen van morgen van Raymond Brood en Marcel van de Pol. De presentatie is gegeven op 6 september 2011 tijdens de 5e editie van het Mercer Werkgeversseminar.
Presentatie: Het Pensioenakkoord; Gevolgen voor uw pensioenregeling van Kristel Kusters. De presentatie is gegeven op 6 september 2011 tijdens de 5e editie van het Mercer Werkgeversseminar.
Presentatie: PPI, DC, etc.; Opties buiten de traditionele pensioenregeling van Tim Burggraaf. De presentatie is gegeven op 6 september 2011 tijdens de 5e editie van het Mercer Werkgeversseminar.
Ook behoefte aan achtergrondinformatie op HR-gebied? Mercer Signaal is een (hardcopy) magazine dat een verhelderende visie op de meest uiteenlopende HR-zaken geeft.
Op dinsdag 17 mei 2011 vond het seminar 'Scenario's voor klimaatverandering - implicaties voor strategische asset allocatie' plaats in het Drijvend Paviljoen in Rotterdam. Deze dag stond in het teken van de invloed van klimaatverandering op beleggingen van pensioenfondsen.
Jelle Beenen was de dagvoorzitter en gaf tevens samen met Will Oulton (UK office) een presentatie over het rapport 'Scenario's voor klimaatverandering' dat onlangs is verschenen.
Ook behoefte aan achtergrondinformatie op HR-gebied? Mercer Signaal is een (hardcopy) magazine dat een verhelderende visie op de meest uiteenlopende HR-zaken geeft.
Presentatie: “Te klein of ongewenst” - Mogelijkheden voor pensioenfondsen van Tim Burggraaf. De presentatie is gegeven op 28 september 2010 op het Mercer Pensioenfondsenseminar.
Presentatie:Met uitsterven bedreigd? Hoe te overleven met behulp van beleggingen van Jelle Beenen. De presentatie is gegeven op 28 september 2010 op het Mercer Pensioenfondsenseminar.
Presentatie: Risk Management – Stabiele mix of stabiel risico? van Ridzert van der Zee. De presentatie is gegeven op 25 november 2010 op het Mercer Investment Consulting seminar.
Presentatie: Non-Financial Risks: A focus on Operational Risk van Ben Gunnee. De presentatie is gegeven op 25 november 2010 op het Mercer Investment Consulting seminar.
More from Mercer (Nederland) B.V. - Talent - Health - Retirement - Investments (20)
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
NO1 Uk Black Magic Specialist Expert In Sahiwal, Okara, Hafizabad, Mandi Bah...Amil Baba Dawood bangali
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
#vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore#blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #blackmagicforlove #blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #Amilbabainuk #amilbabainspain #amilbabaindubai #Amilbabainnorway #amilbabainkrachi #amilbabainlahore #amilbabaingujranwalan #amilbabainislamabad
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
NO1 Uk Divorce problem uk all amil baba in karachi,lahore,pakistan talaq ka m...Amil Baba Dawood bangali
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
#vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore#blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #blackmagicforlove #blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #Amilbabainuk #amilbabainspain #amilbabaindubai #Amilbabainnorway #amilbabainkrachi #amilbabainlahore #amilbabaingujranwalan #amilbabainislamabad
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
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1. 25th November 2010
Managing ESG Risks in
Portfolios
Will Oulton,
Head of RI - EMEA
Mercer Limited is authorised and regulated by the Financial Services Authority
Registered in England No. 984275 Registered Office: 1 Tower Place West, Tower Place, London
EC3R 5BU
2. Agenda
Introduction
ESG Risks – Case Study, Oil & Gas
ESG & Regulatory Risks - Stewardship
Manager ESG Integration – Case Studies
Summary
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9. Petrobras – P36 Platform – May 2000
“Petrobras has established new global benchmarks for the generation
of exceptional shareholder wealth through an aggressive and
innovative programme of cost cutting on its P36 production facility.
Through an integrated network of facilitated workshops, the project
successfully rejected the established constricting and negative
influences of prescriptive engineering, onerous quality requirements,
and outdated concepts of inspection and client control.
The P36 platform shows the shape of things to come in unregulated
global market economy of the 21st Century.”
(Petrobras, P36 Inauguration)
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11. Safety compromised - sound familiar?
11 people died on the P-36 rig.
“Family members of oil workers on the P-36 say they believe pressure
by the company for increased production may have led to corners
being cut on safety procedures.”
Source: BBC News March 2001
In 2009, Petrobras announced a market capitalization plan to finance its future
investments in ultra-deep oil exploration. The share offering in the Brazilian
Stock Exchange took place in September 2010, becoming the largest market
capitalization in history, with US$ 69,97 billion in shares issued.
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12. Forecasting
"We don't like their sound, and guitar music is on the way out."
Decca Recording Co. rejecting the Beatles, 1962.
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14. Mapping Key Industry Codes – expect further developments
What codes relate to who?
Name of Industry Code Sponsor Aimed At
UK Stewardship Code FRC Asset managers*
Dutch Stewardship Code Eumedion ?
UK Corporate Governance Code FRC Corporates
Corporate Governance Policy and Voting NAPF Corporates and investors**
Guidelines (UK)
ABI Remuneration Guidelines (UK) ABI Corporates and investors
UN Global Compact United Nations Corporates
UN Principles for Responsible United Nations Investors
Investment
Global Corporate Governance Principles ICGN Corporates and investors
OECD Corporate Governance Principles OECD Corporates
* Note all institutional investors are encouraged to comply with the Code
** Investors refers to both investment managers and asset owners
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15. Why is Stewardship Relevant to our Clients?
Mercer supported the introduction of the UK Stewardship Code.
Protect and enhance shareholder value.
Consistent with application of fiduciary duties.
Helps “typical” schemes strengthen their investment policies.
Meet the expectations of beneficiaries and other stakeholders.
Demonstrate investor responsibility and leadership.
Useful additional information for manager selection and monitoring.
Enhance transparency and accountability from managers.
Enhance the wider investment system.
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16. Mercer’s ESG ratings – Proxy for a View on Current Practice
Equity strategies by ESG rating
ESG4
ESG3
ESG2
ESG1
Number of rated strategies
0 200 400 600 800 1000 1200
ESG manager research has been integrated into Mercer’s
manager research capabilities since April 2008.
Over 4,000 strategies rated ESG1 (the highest rating).
Extensive coverage of all asset classes.
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17. ESG integration in action
BP oil spill – case studies
Asset manager 1
– Resources: In-house team dedicated to identifying ESG factors that impact
particular sectors.
Analysis undertaken on all equity holdings and assign scores for use in fundamental
analysis.
– Prior to oil spill: ESG analyst responsible for oil and gas assigned BP a score
slightly above average. The ESG analyst discussed this rating and concern over
company health & safety statistics with the financial analyst counterpart, and
determined the concern was ‘valuation-neutral’ (i.e. it was not significant enough to
impact the valuation) although there was additional concern about BP’s past five
years of remuneration reports. As a result, in March 2010, the manager continued to
underweight shares of BP compared to the index.
– Immediately after oil spill: Following the Gulf of Mexico spill, the ESG analyst
downgraded BP to reflect reduced confidence in the company’s health and safety
management, which resulted in an adjustment to the weighted average cost of
capital and, thereby, a reduction in the target valuation. At this point, the manager
began to close its historically underweight positions.
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18. ESG integration in action (2)
BP oil spill – case studies
Asset manager 2
– Resources: Combination of in-house specialists and third party research to gather
information about companies’ ESG performance. Information available across the
firm for integration into the stock selection and valuation process. The manager also
uses an engagement process as an input into the investment decision-making
process.
– Prior to oil spill: Historically, had “minimal or zero exposure to BP across all funds
in our group” partly due to ESG-related concerns. Based on fundamental research
and engagement activities, including conversations with other companies involved
with offshore drilling and conversations with BP’s management, the manager
determined that the level of risk associated with execution of health and safety
management was not reflected in the company’s stock price.
– Immediately after oil spill: No change
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19. Mercer’s ESG Ratings
Common characteristics among leaders
A policy stating a firm-wide commitment to ESG integration
Dedicated resources or expertise to facilitate ESG integration
Structured process for voting and engagement
Process for building ESG factors into valuation metrics
Willingness to collaborate with other investors
Long-term investment horizon
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20. Summary
ESG factors can comprise risks to long term value protection and
therefore overall portfolio performance
“Conventional” investment analysis is not sufficient
We are not good at forecasting systemic risks
Understand differences between manager approaches
Monitor managers over time and be clear in investment policy
Better informed managers should be “better” investors
Effective stewardship is an integral aspect of investor responsibility
and can be an important element in both protecting and enhancing
long term shareholder value.
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21. Mercer Limited is authorised and regulated by the Financial Services Authority
Registered in England No. 984275 Registered Office: 1 Tower Place West, Tower Place, London
EC3R 5BU