The document provides guidance on an engagement process called "Material Engagement" to advance sustainability issues. It recommends focusing engagements on the UN Sustainable Development Goals (SDGs) and issues identified as material by the Sustainability Accounting Standards Board (SASB). The 8-step process involves identifying SDG priorities, scanning SASB's materiality map, selecting laggard companies, defining the engagement scope, setting milestones and timelines, selecting an engagement approach, communication methods, and an escalation strategy if needed. Appendices provide more details on the initial steps of selecting SDG priorities, identifying laggards using ESG ratings, and defining the engagement scope. The goal is to make sustainability issues real
NL:
ESG Routekaart.
De dwingende uitdaging waarvoor wij staan op het gebied van milieu is, om met zijn allen de beweging in gang te zetten om de gemiddelde opwarming van de aarde tot 1,5 graden te beperken. Sommige belanghebbenden, gouvernementele organisaties en banken, vragen regelmatig om verbetering en het aanscherpen van de Europese wetgeving met betrekking tot het klimaat. De EU zou tegen 2050 een totale reductie van de binnenlandse emissies van 80% moeten realiseren. Door een eenduidig stappenplan te borgen, is een concrete stap naar verduurzamen. Denk daarbij aan de interne- en externe belanghebbenden te betrekken voor de implementatie van initiatieven om CO2-emissies te verminderen, of een stap verder zou zijn, om de emissies te compenseren. De Routekaart beschrijft aan de hand van analyses, en sector specifieke KPI’s, modellen hoe dit beleid goed zou kunnen worden geborgd in een Environmental Socio-Economic Governance beleid. De Routekaart biedt op de lange termijn een kosten efficiënt pad naar een schonere, klimaatvriendelijke bedrijf.
Short biography of the presenter; Ginio Franker, September 1966, Suriname.
Position Learning and Development NLP-trainer & Transpersoonlijke coach + Climate Leader trained by Al Gore. "A Moral Call to Climate Change" + "Environmental Justice".
Website www.greandream.com.
EN:
ESG-ROADMAP
With the effects of climate change already upon us, the need to cut global greenhouse gas emissions is nothing less than urgent. It’s a daunting challenge, but the technologies and strategies to meet it exist today. A small set of ESG policies, designed and implemented well, can put us on the path to a low carbon future. ESG Key Performance Indicators are complex, so they must be sector specific, focused and cost-effective. One-size-fits-all approaches simply won’t get the job done. Sustainability managers need a clear, comprehensive resource that outlines the ESG policies that will have the biggest impact on our climate future, and describes how to implement these policies well within their own organisations.
We don’t need to wait for new technologies or strategies to create a low carbon future—and we can’t afford to. ESG-ROADMAP gives professionals the tools they need to select, design, and implement the policies that can put us on the path to a livable climate future.
The Environmental Social Governance challenges e.g: on regulatory and reputational risks, market scandals and new market opportunities makes ESG information a data source of growing importance. With ESG in company seminars, round table discussions, scholarships and online association programs, we leave no one behind. Sign up today. Zentrepreneur Environmental Social Governance Associates Training. (ZESGA).
contact@esgwatch.eu
+32485773608 BE
+31630092220 NL
This white paper was the culmination of a series of webinars and in-person conversations with corporate practitioners in the sustainability field. It provides the end user with an understanding of the ESG ratings and rankings field and helps prioritize engagement with the most influential organizations in the field.
Environmental, Social and Governance (ESG) investing is bringing a new lens to the world of traditional investment management. ESG is increasingly becoming a key decision criterion within the institutional and retail channels as investors seek to ensure that their investments align with their values. In this webinar, we will provide a unique understanding of distribution trends driven by ESG criteria vital to product development and sales strategies for Asset Managers.
Broadridge has partnered with MSCI ESG Research to provide Asset Managers with access to ESG factors for funds. On this webinar, we will provide a detailed overview of ESG investment trends as well as present an overview of a unique set of data that provides ESG transparency on more than 27,000 funds.
NL:
ESG Routekaart.
De dwingende uitdaging waarvoor wij staan op het gebied van milieu is, om met zijn allen de beweging in gang te zetten om de gemiddelde opwarming van de aarde tot 1,5 graden te beperken. Sommige belanghebbenden, gouvernementele organisaties en banken, vragen regelmatig om verbetering en het aanscherpen van de Europese wetgeving met betrekking tot het klimaat. De EU zou tegen 2050 een totale reductie van de binnenlandse emissies van 80% moeten realiseren. Door een eenduidig stappenplan te borgen, is een concrete stap naar verduurzamen. Denk daarbij aan de interne- en externe belanghebbenden te betrekken voor de implementatie van initiatieven om CO2-emissies te verminderen, of een stap verder zou zijn, om de emissies te compenseren. De Routekaart beschrijft aan de hand van analyses, en sector specifieke KPI’s, modellen hoe dit beleid goed zou kunnen worden geborgd in een Environmental Socio-Economic Governance beleid. De Routekaart biedt op de lange termijn een kosten efficiënt pad naar een schonere, klimaatvriendelijke bedrijf.
Short biography of the presenter; Ginio Franker, September 1966, Suriname.
Position Learning and Development NLP-trainer & Transpersoonlijke coach + Climate Leader trained by Al Gore. "A Moral Call to Climate Change" + "Environmental Justice".
Website www.greandream.com.
EN:
ESG-ROADMAP
With the effects of climate change already upon us, the need to cut global greenhouse gas emissions is nothing less than urgent. It’s a daunting challenge, but the technologies and strategies to meet it exist today. A small set of ESG policies, designed and implemented well, can put us on the path to a low carbon future. ESG Key Performance Indicators are complex, so they must be sector specific, focused and cost-effective. One-size-fits-all approaches simply won’t get the job done. Sustainability managers need a clear, comprehensive resource that outlines the ESG policies that will have the biggest impact on our climate future, and describes how to implement these policies well within their own organisations.
We don’t need to wait for new technologies or strategies to create a low carbon future—and we can’t afford to. ESG-ROADMAP gives professionals the tools they need to select, design, and implement the policies that can put us on the path to a livable climate future.
The Environmental Social Governance challenges e.g: on regulatory and reputational risks, market scandals and new market opportunities makes ESG information a data source of growing importance. With ESG in company seminars, round table discussions, scholarships and online association programs, we leave no one behind. Sign up today. Zentrepreneur Environmental Social Governance Associates Training. (ZESGA).
contact@esgwatch.eu
+32485773608 BE
+31630092220 NL
This white paper was the culmination of a series of webinars and in-person conversations with corporate practitioners in the sustainability field. It provides the end user with an understanding of the ESG ratings and rankings field and helps prioritize engagement with the most influential organizations in the field.
Environmental, Social and Governance (ESG) investing is bringing a new lens to the world of traditional investment management. ESG is increasingly becoming a key decision criterion within the institutional and retail channels as investors seek to ensure that their investments align with their values. In this webinar, we will provide a unique understanding of distribution trends driven by ESG criteria vital to product development and sales strategies for Asset Managers.
Broadridge has partnered with MSCI ESG Research to provide Asset Managers with access to ESG factors for funds. On this webinar, we will provide a detailed overview of ESG investment trends as well as present an overview of a unique set of data that provides ESG transparency on more than 27,000 funds.
ESG Engagement Insights, a presentation by Nawar Alsaadi of best engagement practices of 30 asset managers, owners, pension funds, and non-profits around the world. (The work is derived from BlackRock & Ceres’ paper entitled Engagement in the 21st Century).
An introduction to ESG (Environmental, Social and Governance) Investing from Artifex Financial Group, a leader in ESG portfolio research and management.
When we conducted our inaugural environmental, social and governance (ESG) survey of private equity (PE) professionals last year, it was startling to see that nearly half (49%) of our general partner (GP) respondents did not have an ESG program at their firm and had no plans to create one, despite heightened concern from limited partners (LPs) on ESG issues. What a difference a year makes—not to mention the fact that we had a higher proportion of European respondents this year, who are much more progressive when it comes to ESG issues. In our second edition of the ESG survey, a majority of GP respondents (60%) now work at a firm with an established ESG program and another 26% either have an ESG program in development or plan to create one in the near future. However, there are still some PE firms that see little value in ESG programs. As one GP respondent put it: “we think [ESG] is the most asinine initiative ever to come out in the business world.”
While some PE firms eschew ESG issues and think that strong fund performance is enough to attract LP commitments, the LPs themselves are telling a different story. Eighty-four percent of LP respondents say that ESG issues are at least somewhat important when deciding whether or not to commit to a PE fund, with 18% claiming they are essential. Furthermore, 24% said they would they would commit to a fund with slightly lower historical performance if the firm had a strong ESG program. Remember, many of the largest contributors to PE funds are public pension plans, endowments, foundations and sovereign wealth funds—institutions which not only are interested in returns but also have an image to maintain. “GPs have to be more aware of investors’ desire for knowledge of their investments beyond just the financial return,” commented one LP respondent, while adding that the responsibility ultimately falls on the investors: “GPs will only change if the LPs push them to.”
One of the big takeaways from this year’s survey is that more PE firms are taking the necessary steps to make ESG a fundamental part of their investment approach. For example, 28% of GP respondents indicated that their firm produces a corporate social responsibility (CSR) report, up from 18% in 2012. And while finding effective metrics to monitor ESG performance continues to be the largest hurdle for ESG efforts, PE firms continue to find new ways to measure their ESG initiatives and have increasingly utilized forums, case studies and industry events and guidelines to fill the knowledge gap.
We hope that this survey serves as a lens into the current state of ESG issues in the PE industry and provides a starting point for developing a set of best practices that can be adopted by firms of all sizes. If you are interested in participating in future editions of the survey, or have any comments or suggestions for how we can improve this report, please contact us at research@pitchbook.com.
Etude PwC "Bridging the gap" sur les investisseurs institutionnels (mai 2015)PwC France
Selon la dernière étude du cabinet d’audit et de conseil PwC, intitulée « Bridging the gap », sept investisseurs institutionnels sur dix (70 %) – parmi les 60 qui ont été interrogés par PwC au plan mondial – affirment qu’ils refuseraient de participer à une levée de fonds de private equity ou à un co-investissement si ceux-ci présentaient un risque environnemental, social ou de gouvernance.
Méthodologie :
Pour réaliser cette étude, PwC a mené des entretiens individuels avec 60 commanditaires de 14 pays, totalisant quelque 500 milliards USD d’allocation aux gérants ou general partners (GP) de fonds de private equity. Les participants à l’enquête ont répondu sur la base du volontariat, d’où une surreprésentation probable des investisseurs relativement avancés dans leur approche de l’investissement responsable. Le panel était composé à 30 % de fonds de pension, à 20 % de gestionnaires d’actifs et à 7 % de fonds souverains ou publics. Parmi les répondants figuraient de grands fonds de pension du monde entier, comme le CalSTRS (caisse de retraite de l’enseignement public de Californie), l’USS (caisse de retraite de l’enseignement supérieur britannique), la caisse de retraite de BT, le West Midlands Pension Fund, le Wellcome Trust, un fonds de pension suédois et des fonds confessionnels aux États-Unis et en Finlande. Parmi les principaux gestionnaires d’actifs figuraient les sociétés Aberdeen, Hermes GPE, F&C et BlackRock. 7 investisseurs français ont aussi participé à cette étude comme par exemple BPI France, Ardian ou OFI Asset Management (devenu depuis SWEN Capital Partners).
Responsible investment is rapidly becoming a mainstream concern within the investment industry. The dramatic growth in the number of investors who have adopted the Principles for Responsible Investment (PRI) is only the latest indicator of the increased attention the sector is paying to the integration of environmental, social and governance (ESG) factors into investment management.
Balanced Rock Investment Advisors educational presentation on alternative investment strategies that reflect personal values.
Presented @ Brookline Library - 10.15.2015
Too often environmental, social and governance (ESG) initiatives are simply looked at through a compliance and risk management prism. But this ignores the real opportunity that embracing and managing ESG issues presents - that of enhancing business value. This presentation lays out the service value chain and brand value linkages while illustrating how strong ESG performance translates to superior market performance.
These slides discusses on the environmental, social and governance (ESG) factors for responsible investment. It briefly covers the ongoing crisis our world economy is dealing with today, which adversely affects business owners and investors alike.
ESG integration in Equities and Fixed IncomeNawar Alsaadi
ESG Integration Case Studies, a presentation by Nawar Alsaadi of more than 30 ESG integration case studies (Equities and Fixed Income) by a host of asset managers and asset owners around the world. (The work is derived from a CFA Institute and UN-PRI paper entitled Guidance and Case Studies for ESG Integration: Equities and Fixed Income).
Redefining Value, Moving Markets: The Future of Sustainability RatingsSustainable Brands
Allen White, Founder, Global Initiative for Sustainability Ratings (GISR)
With over 100 organizations working on some kind of sustainability performance rating or ranking, how can companies decide which one(s) to focus on, or manage against? What key underlying principles should high-quality assessment criteria follow, and how is 'rating the raters' likely to affect the perceived value of existing ratings and rankings? What else could be done to bring about further clarity and trustworthiness to said assessments?
Material Engagement (with suppliment included)Nawar Alsaadi
Material Engagement is the missing link between the sharp growth in ESG aligned assets, and the lack of progress on many of the pressing environmental, social and governance issues facing humanity today. The sustainability priorities of Material Engagement are grounded in human rights by virtue of its focus on the 2030 UN Sustainable Development Goals (SDGs). Furthermore, by linking the SDGs to SASB’s Materiality Map, the Material Engagement approach provides the legal, commercial, and strategic impetus for companies to make the SDGs a reality. Said another way, Material Engagement is an approach that combines the heart (SDGs) with the brain (SASB) thus birthing a new sustainable business reality, one that’s rooted in human rights, and guided by the power and genius of private enterprise. In addition to its powerful intellectual and moral foundation, Material Engagement offers a turn-key sustainability engagement solution, with relevant KPIs, scope and milestones blueprints, clear timelines, escalation pathways, and communication methods. Material Engagement is the missing link between the world we have, and the world humanity deserves.
ESG Engagement Insights, a presentation by Nawar Alsaadi of best engagement practices of 30 asset managers, owners, pension funds, and non-profits around the world. (The work is derived from BlackRock & Ceres’ paper entitled Engagement in the 21st Century).
An introduction to ESG (Environmental, Social and Governance) Investing from Artifex Financial Group, a leader in ESG portfolio research and management.
When we conducted our inaugural environmental, social and governance (ESG) survey of private equity (PE) professionals last year, it was startling to see that nearly half (49%) of our general partner (GP) respondents did not have an ESG program at their firm and had no plans to create one, despite heightened concern from limited partners (LPs) on ESG issues. What a difference a year makes—not to mention the fact that we had a higher proportion of European respondents this year, who are much more progressive when it comes to ESG issues. In our second edition of the ESG survey, a majority of GP respondents (60%) now work at a firm with an established ESG program and another 26% either have an ESG program in development or plan to create one in the near future. However, there are still some PE firms that see little value in ESG programs. As one GP respondent put it: “we think [ESG] is the most asinine initiative ever to come out in the business world.”
While some PE firms eschew ESG issues and think that strong fund performance is enough to attract LP commitments, the LPs themselves are telling a different story. Eighty-four percent of LP respondents say that ESG issues are at least somewhat important when deciding whether or not to commit to a PE fund, with 18% claiming they are essential. Furthermore, 24% said they would they would commit to a fund with slightly lower historical performance if the firm had a strong ESG program. Remember, many of the largest contributors to PE funds are public pension plans, endowments, foundations and sovereign wealth funds—institutions which not only are interested in returns but also have an image to maintain. “GPs have to be more aware of investors’ desire for knowledge of their investments beyond just the financial return,” commented one LP respondent, while adding that the responsibility ultimately falls on the investors: “GPs will only change if the LPs push them to.”
One of the big takeaways from this year’s survey is that more PE firms are taking the necessary steps to make ESG a fundamental part of their investment approach. For example, 28% of GP respondents indicated that their firm produces a corporate social responsibility (CSR) report, up from 18% in 2012. And while finding effective metrics to monitor ESG performance continues to be the largest hurdle for ESG efforts, PE firms continue to find new ways to measure their ESG initiatives and have increasingly utilized forums, case studies and industry events and guidelines to fill the knowledge gap.
We hope that this survey serves as a lens into the current state of ESG issues in the PE industry and provides a starting point for developing a set of best practices that can be adopted by firms of all sizes. If you are interested in participating in future editions of the survey, or have any comments or suggestions for how we can improve this report, please contact us at research@pitchbook.com.
Etude PwC "Bridging the gap" sur les investisseurs institutionnels (mai 2015)PwC France
Selon la dernière étude du cabinet d’audit et de conseil PwC, intitulée « Bridging the gap », sept investisseurs institutionnels sur dix (70 %) – parmi les 60 qui ont été interrogés par PwC au plan mondial – affirment qu’ils refuseraient de participer à une levée de fonds de private equity ou à un co-investissement si ceux-ci présentaient un risque environnemental, social ou de gouvernance.
Méthodologie :
Pour réaliser cette étude, PwC a mené des entretiens individuels avec 60 commanditaires de 14 pays, totalisant quelque 500 milliards USD d’allocation aux gérants ou general partners (GP) de fonds de private equity. Les participants à l’enquête ont répondu sur la base du volontariat, d’où une surreprésentation probable des investisseurs relativement avancés dans leur approche de l’investissement responsable. Le panel était composé à 30 % de fonds de pension, à 20 % de gestionnaires d’actifs et à 7 % de fonds souverains ou publics. Parmi les répondants figuraient de grands fonds de pension du monde entier, comme le CalSTRS (caisse de retraite de l’enseignement public de Californie), l’USS (caisse de retraite de l’enseignement supérieur britannique), la caisse de retraite de BT, le West Midlands Pension Fund, le Wellcome Trust, un fonds de pension suédois et des fonds confessionnels aux États-Unis et en Finlande. Parmi les principaux gestionnaires d’actifs figuraient les sociétés Aberdeen, Hermes GPE, F&C et BlackRock. 7 investisseurs français ont aussi participé à cette étude comme par exemple BPI France, Ardian ou OFI Asset Management (devenu depuis SWEN Capital Partners).
Responsible investment is rapidly becoming a mainstream concern within the investment industry. The dramatic growth in the number of investors who have adopted the Principles for Responsible Investment (PRI) is only the latest indicator of the increased attention the sector is paying to the integration of environmental, social and governance (ESG) factors into investment management.
Balanced Rock Investment Advisors educational presentation on alternative investment strategies that reflect personal values.
Presented @ Brookline Library - 10.15.2015
Too often environmental, social and governance (ESG) initiatives are simply looked at through a compliance and risk management prism. But this ignores the real opportunity that embracing and managing ESG issues presents - that of enhancing business value. This presentation lays out the service value chain and brand value linkages while illustrating how strong ESG performance translates to superior market performance.
These slides discusses on the environmental, social and governance (ESG) factors for responsible investment. It briefly covers the ongoing crisis our world economy is dealing with today, which adversely affects business owners and investors alike.
ESG integration in Equities and Fixed IncomeNawar Alsaadi
ESG Integration Case Studies, a presentation by Nawar Alsaadi of more than 30 ESG integration case studies (Equities and Fixed Income) by a host of asset managers and asset owners around the world. (The work is derived from a CFA Institute and UN-PRI paper entitled Guidance and Case Studies for ESG Integration: Equities and Fixed Income).
Redefining Value, Moving Markets: The Future of Sustainability RatingsSustainable Brands
Allen White, Founder, Global Initiative for Sustainability Ratings (GISR)
With over 100 organizations working on some kind of sustainability performance rating or ranking, how can companies decide which one(s) to focus on, or manage against? What key underlying principles should high-quality assessment criteria follow, and how is 'rating the raters' likely to affect the perceived value of existing ratings and rankings? What else could be done to bring about further clarity and trustworthiness to said assessments?
Material Engagement (with suppliment included)Nawar Alsaadi
Material Engagement is the missing link between the sharp growth in ESG aligned assets, and the lack of progress on many of the pressing environmental, social and governance issues facing humanity today. The sustainability priorities of Material Engagement are grounded in human rights by virtue of its focus on the 2030 UN Sustainable Development Goals (SDGs). Furthermore, by linking the SDGs to SASB’s Materiality Map, the Material Engagement approach provides the legal, commercial, and strategic impetus for companies to make the SDGs a reality. Said another way, Material Engagement is an approach that combines the heart (SDGs) with the brain (SASB) thus birthing a new sustainable business reality, one that’s rooted in human rights, and guided by the power and genius of private enterprise. In addition to its powerful intellectual and moral foundation, Material Engagement offers a turn-key sustainability engagement solution, with relevant KPIs, scope and milestones blueprints, clear timelines, escalation pathways, and communication methods. Material Engagement is the missing link between the world we have, and the world humanity deserves.
This document offers a brief review of the content from the 2012 and 2013 Environmental, Social and Governance (ES&G) Forums that informed the topics and speakers for CBSR’s September 23, 2014 ES&G Forum. Last year, a post-forum report was prepared to provide a summary of the discussions and to suggest opportunities for further research. The report can be accessed on www.cbsr.ca and our SlideShare account.
Business Responsibility and Sustainability .pdfaakash malhotra
Read Deloitte India’s Business Responsibility and Sustainability Report and what it means for the top 1,000 listed entities in India. The Securities and Exchange Board of India (SEBI) introduced new requirements for sustainability reporting by listed companies. It aims to establish links between the financial results of a business with its ESG performance.
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.
Ομιλία: “ESG in Corporate Governance and public enterprises (SOEs)”
Χριστίνα Κολιάτση, Chief Legal Counsel, Ελληνική εταιρεία Συμμετοχών και Περιουσίας ΑΕ (ΕΕΣΥΠ)
Good Measures: The Case for Quantification in Impact InvestmentPabloVerra
The impact investment sector has duly recognized that impact measurement is central to legitimizing the practice of impact investing. Increasingly, investors want to have more detailed social and environmental performance data so they can scrutinize it as they do with financial data. This enables investors to have a better understanding of social returns on investment and re-allocate investment capital accordingly.
More than Green Initiatives: Developing the Future of Sustainability Accounti...Ken Witt
Discusses new accounting and reporting frameworks and guidelines including Climate Disclosure Standards Board (CDSB), Global Reporting Initiative (GRI), International Integrated Reporting Committee (IIRC), and Sustainability Accounting Standards Board (SASB). Presentation at Beta Alpha Psi Regional Event in Dallas.
Aligning ESG with Corporate Strategy to Gain a Competitive Advantage - SG Ana...SG Analytics
From the sudden surge in the popularity of green finance to the pervasive impact of ESG factors on consumers and their purchasing decisions
Visit: https://us.sganalytics.com/blog/aligning-esg-with-corporate-strategy-to-gain-a-competitive-advantage/
The market for sustainable investments has grown to over $12 trillion in the U.S. and the movement of investable assets into sustainable strategies is expected to accelerate. The update reviews the growth of sustainable investing over the last decade and considers the valuation implications for your RIA.
COVID-19 may prove to be a significant turning point for ESG investments. Dubai Financial Market launched the first ESG Index in the region, in an effort to accelerate Sustainability performance of listed companies and enhance transparency.
Material Engagement with SDG Compass Integration Nawar Alsaadi
This is a supplementary presentation to the original Material Engagement presentation demonstrating the process to integrate SDG Compass within Material Engagement.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
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.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
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Material Engagement
1. Material Engagement
Make it Real (SDGs). Make it Matter
(SASB). Make it Heard (Process).
Nawar Alsaadi
2020
The Missing Link
2. Nawar Alsaadi - 2020 2
Nawar Alsaadi is a sustainable investment professional with 10+
years capital markets and corporate engagement experience. He
has been involved with a number of high-profile activist battles with
TSX and NYSE listed companies on issues pertaining to corporate
governance and corporate strategy. In 2014, he founded Semper
Augustus Capital, an activist investing firm with a focus on corporate
governance and strategy. In 2018, he expanded his investing focus to
the full spectrum of ESG investing through the development and
application of the Material Engagement concept. Nawar holds a
Sustainable Investment professional certification from Concordia
University, an ESG Investing certification from the CFA institute (UK),
and an FSB Credential from the Sustainability Accounting Standards
Board (SASB).
3. There has been Little Progress on CO2 emissions, income inequality,
and excessive CEO Pay despite significant growth UN-PRI aligned
assets
Nawar Alsaadi - 2020 3
4. What’s missing?
The strong growth in ESG committed assets (UN-PRI, USSIF), and the proliferation of ESG disclosure and
integration requirements (EU SRD2, UK Stewardship Code, Japan Stewardship Code) have not been
accompanied by an analogous increase in active ownership. Shareholder voting - which is a good proxy of
investor engagement (passive and active) – signal continued investor passivity:
Voting dissent in the UK largest 350 companies has hardly changed over the last decade
(Source: Minerva Analytics)
Nawar Alsaadi - 2020 4
5. ESG Evidence
Nawar Alsaadi - 2020
Multiple studies affirm a positive correlation between ESG
integration/Engagement and market & corporate financial
performance, to cite a few…:
Flammer, C. (2013). “Does corporate social responsibility lead to superior financial performance? A regression
discontinuity approach”. Journal of Economic Literature, 27 Oct. 2013. Available at:
https://ssrn.com/abstract=2146282
Bassen, A., Busch, T. and Friede, G. (2015). “ESG and Financial Performance: Aggregated Evidence from More
than 2,000 Empirical Studies”. Journal of Sustainable Finance & Investment, 5(4), pp. 210–233. Available at:
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2699610
Principles for Responsible Investment (2018). ESG engagement for fixed income investors: Managing risks,
enhancing returns. Available at: www.unpri.org/download?ac=4449
Mooney, A. (2018). “Unilever U-turn shows how angry shareholders are securing change”. Financial Times, 14
Oct. 2018. Available at: www.ft.com/content/d7211dba-ce21-11e8-9fe5-24ad351828ab
Hoepner, A.G.F., Oikonomou, I., Sautner, Z. et al. (2018). “ESG shareholder engagement and downside risk”.
AFA 2018 paper. Available at: https://ssrn.com/abstract=2874252
Dimson, E., Karakaş, O. and Li, X. (2015). “Active ownership”. Review of Financial Studies (RFS), 28(12), pp.
3225–3268. Available at: https://ssrn.com/abstract=2154724
Becht, M., and Franks, J.R., Mayer, C. and Rossi, S. (2006). “Returns to shareholder activism: evidence from a
clinical study of the Hermes UK Focus Fund”. ECGI – Finance Working Paper No 138/2006. Available at:
https://ssrn.com/abstract=934712
Kölbel, Julian F., Florian Heeb, Falko Paetzold, and Timo Busch. in press. ‘Can Sustainable Investing Save the
World? Reviewing the Mechanisms of Investor Impact’. Organization & Environment. Available at:
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3289544
“The study combines the findings of about 2,200
individual studies…The results show that the
business case for ESG investing is empirically
very well-founded. Roughly 90% of studies find a
non-negative ESG-CFP relation. More
importantly, the large majority of studies reports
positive findings.” Journal of Sustainable Finance &
Investment
5
…. shareholder engagement emerges as
the most reliable mechanism for investors
seeking impact, in the sense that it has
been clearly demonstrated empirically ….
Organization & Environment
After successful engagements,
particularly on environmental/social
issues, companies experience
improved accounting performance
and governance and increased
institutional ownership.
Review of Financial Studies
6. What needs to happen?
1. Mindset: ESG is not a mean to
gather assets, gathered assets are a
mean to advance ESG issues.
2. Take Responsibility: Asset owners
& managers need to drive the
sustainability agenda within their
invested universe.
3. Prioritize: Focus engagements on
the most pressing issues.
4. Target: Target engagements on
sectors/industries and companies that
provide the most impact.
5. Deliver: Engagements are not an
end in themselves, Engagements
must lead to tangible, measurable,
verifiable outcomes.
Nawar Alsaadi - 2020
Make it Real (SDGs).
Make it Matter (SASB).
Make it Heard
(Process).
Material
Engagement
6
7. Identify SDGs priorities Scan against SASB’s
materiality map
Identify laggards (internal
analysis, ESG ratings, NGOs ..
Etc.)
Define
Engagement
Scope:
What the target
company needs to
do? What
resources should
they commit?
Over what
timeframe? Why
should they do
what you are
asking?
Set KPIs &
Milestones, and
Timelines:
What defines
success? What
are the key
millstones?
Over what
timeline?
Select
Engagement
Approach:
Go it alone? Co-
ordinate with
fellow
shareholders?
Soft or
aggressive?
Urgent or
prolonged?
Private or public?
Select
Communicatio
n Method:
Letter, email,
phone, video
call, in person
meeting?
Establish Escalation
Strategy:
Submit shareholder
proposal? Go public?
(if private approach)
Involve other
shareholders (if
started alone) Vote
Strategically? Seek
board seat? Exit
investment?
4. 5. 6. 7. 8.
1. 2. 3.
The 8-STEPs Material Engagement Process
Nawar Alsaadi - 2020 7
A detailed breakdown of all steps is
available in Appendix 1 & 2.
8. Why the UN 17 Sustainable Development
Goals?
Nawar Alsaadi - 2020
• The SDGs provide a universal sustainability
blueprint.
• The SDGs are well defined, actionable, and
chart a clear path to a better and sustainable
future.
• The SDGs have been designed with the
participation of the private sector in mind.
• The SDGs are timebound, planned to be
achieved by 2030.
• The SDGs have widespread governmental
and private sector backing.
• Focusing the ‘firepower’ of trillions of dollars in
ESG aligned assets on a single set of goals
increases the chance of their achievement.
• With 17 goals to choose from, asset owners
and asset managers can focus on the issues
that matter most to them.
Make it Real
8
9. Why SASB?
Nawar Alsaadi - 2020
• Sector Specific (79 industries, 11 sectors).
• SASB Materiality definition is in alignment with
the US Supreme court materiality definition, and
the SEC Regulation S-K disclosure requirements.
• Shareholder engagement on material issues as
defined by SASB leads to increase in corporate
valuations*.
• Failure to disclose or act on material risks as
defined by SASB exposes issuers to legal and
regulatory risks.
• SASB Standards are rigorously reviewed and
updated every three years, thus ensuring
continued relevancy.
• SASB is endorsed by prominent asset managers
such as Blackrock, State Street and Vanguard.
Make it Matter
*Grewal, Serafeim,Yoon. 2016. Shareholder Activism on
Sustainability Issues. Harvard Business School.
9
10. Why not other frameworks?
Nawar Alsaadi - 2020
Other standards/frameworks are either all-stakeholder focused, general in scope
or focused on a single sustainability issue such as climate change. SASB is the
only standard focused on a large sustainability spectrum, and on what matters for
participants in financial markets (investors and issuers).
Make it Matter
10
11. Process
Nawar Alsaadi - 2020
Make it Heard
Define
Engagement
Scope:
What the target
company needs to
do? What
resources should
they commit?
Over what
timeframe? Why
should they do
what you are
asking?
Set KPIs &
Milestones, and
Timelines:
What defines
success? What
are the key
millstones? Over
what timeline?
Select
Engagement
Approach:
Go it alone? Co-
ordinate with
fellow
shareholders?
Soft or
aggressive?
Urgent or
prolonged?
Private or public?
Select
Communicatio
n Method:
Letter, email,
phone, video
call, in person
meeting?
Establish Escalation
Strategy:
Submit shareholder
proposal? Go public?
(if private approach)
Involve other
shareholders (if
started alone) Vote
Strategically? Seek
board seat? Exit
investment?
11
Desired Outcome Actual Outcome
Outcome AlignmentOutcome Alignment
12. Material Engagement
Make it Real (SDGs). Make it Matter
(SASB).
Nawar Alsaadi
2020
The Missing Link
Appendix 1 – Step 1 to 3
13. Select Your SDG Priority
Nawar Alsaadi - 2020 13
“Ensure availability and
sustainable management of
water and sanitation for all”
Make it Real
14. Scan Against SASB Materiality Map
Nawar Alsaadi - 2020 14
Sectors where Water
Management is MOST
Material:
Extractives & Minerals
Processing
Food & Beverage*
Renewable Resources &
Alternative Energy
*Chosen for the presentation
example at the next slide
Make it Matter
15. Scan Against SASB sub-sector
Nawar Alsaadi - 2020 15
Food & Beverage sub-industries with most exposure to Water
Management:
Agriculture Products, Alcoholic Beverages, Meat, Poultry & Dairy
Non-Alcoholic Beverages, Processed Foods – Restaurants
Identify laggards
within these sectors
(next step)
Make it Matter
16. Identify Sector Laggards
Identifying sector laggards involves a number of steps that may include one
or a combination of the following:
- Company by company water management performance analysis* (time
consuming – most accurate )
- Consulting an ESG ratings database (Ceres, CDP, Sustainalytics, MSCI,
Virgo Eiris, RipRisk… etc.) (Good starting point, cross check against company data )
- Scanning the news/social media for water management failures and
deficiencies for companies in the Food & Beverages industry. (Good starting
point, cross check against company data )
Nawar Alsaadi - 2020 16
For this example, we will use Ceres’ Water Risks & Food Sector database
to identify lagging companies in water management/stewardship.
Make it Matter
*SASB Industry Briefs (slide 20) provides relevant assessment indictors to assess company performance on
a given sustainability issue.
17. Nawar Alsaadi - 2020 17
Ceres Company Scorecard
For this example, we will choose Dean Foods
which scores 17/100 on its water stewardship
according to Ceres rating methodology.
18. How to choose an engagement area?
Nawar Alsaadi - 2020 18
Dean Foods Water Stewardship
deficiency by category (worse to
best):
• Agriculture Supply Chain
• Manufacturing Supply Chain
• Governance & Management
• Direct Operations
Although Governance & Management is the 3rd worst sustainability performance area for Dean Foods,
it is best to start your engagement here since without a proper governance structure no sustainability
improvement can be sustained. You may choose to engage on multiple sustainability areas
simultaneously as you define your engagement scope (step 4). Nonetheless, you need to make sure that
engaging on sustainability Governance & Management is part of your engagement process in case of an
identified deficiency in this area.
Make it Matter
19. Engaging on Governance
Nawar Alsaadi - 2020 19
Source: Ceres detailed Company Score (Dean Foods)
Potential Governance
Engagement Topics
based on Ceres’
Methodology :
• Board Water
Management
Oversight
• Senior Executive
Water Management
Oversight
• Executive
Compensation &
Water Management
• Water Management
integration in
Business Strategy &
Risk Management
Make it Matter
20. SASB Industry Briefs
SASB provides industry briefs on the most relevant sustainability
accounting metrics for a given industry.
SASB’s Water Related Metrics for the Meat, Poultry and Dairy Industry
Nawar Alsaadi - 2020
20
A governance
engagement with Dean
Foods would need to
include a discussion
around the
disclosure/governance
and management of these
water sustainability issues
within the company. For
example,
Board/Management,
Executive Pay, needs to
be tied to these water
sustainability metrics.
Make it Matter
21. Summary
• Choose an SDG priority or priorities
• Scan against SASB’s Materiality Map
• Scan against SASB’s sub-sector Materiality Map
• Identify laggard(s) within impact sectors
• Company Analysis
• ESG Ratings Databases
• Media, other.
• Choose engagement area/areas within identified
company/companies.
• Always start with sustainability governance if the investee company is
deficient in this area.
• Consult SASB’s industry briefs to identify the relevant sustainability metrics to
include in your engagement.
Nawar Alsaadi - 2020 21
23. Define Engagement Scope (1/2)
What sustainability improvement(s) the investee company needs to undertake?
How fast should they act? What resources should they commit?
• The answer to the above is a function of your chosen SDG priority(s), the urgency
to act, the deficiency exhibited by the investee company in this particular
sustainability area(s), your available engagement resources, and the time you are
welling to allocate to a given engagement.
• The engagement scope is also a function of the size of your investment in the
investee company, your stewardship policy, your investment mandate, the nature
of your relationship with the investee company, the extent of change you would
like to see, and the solidity of your theory of change in the engagement area.
• The engagement scope is equally a function of the internal buy-in within your firm.
It is vital that the engagement scope has the backing and approval of the relevant
teams, departments and officers within your institution.
Nawar Alsaadi - 2020 23
Make it Heard
24. Define Engagement Scope (2/2)
• When outlining your engagement scope, you need to be aware of the inverse
relationship between the complexity of the ask and the time required to see it
through. Asking a coal company to become a renewable energy company is far
more complex than asking a coal company to disclose its scope 1 emissions.
• When defining the scope of your engagement you have to be clear about your
final goal. An engagement scope can’t be defined without an established final
engagement objective. Establishing scope is a function of the final engagement
objective (Step 1 to 3).
• When defining the engagement scope you need to decide on whether you will
engage on a single sustainability issue, or multiple issues at once (function of final
objective).
• When addressing multiple sustainability deficiencies at a given company, make
sure to align your engagement scope with your sustainability deficiency priorities.
(priority areas get more coverage/attention)
• Who will you engage with at the investee company? (Head of IR, CFO, CEO,
Chairman, Lead Director, Head of Sustainability … etc.). The person or persons to
approach is a function of the scope of your engagement.
Nawar Alsaadi - 2020 24
Make it Heard
25. Set KPIs & Milestones, and Timelines (1/2)
• Your engagement timeline is a function of the complexity of the identified
sustainability deficiency, its urgency. The timeline is also a function of the
investment horizon and available engagement resources.
• Milestones are set along your engagement timeline, they are your
guideposts as to whether you are moving in the right direction, and within
your projected timeframe. Missed milestones, might signal a need for a
change of engagement approach, escalation.
• Key Performance Indicators (KPIs) are the indicators you use to gauge a
company performance in relation to your chosen SDG area of
engagement. SASB Industry briefs provide relevant performance
indicators (sustainability accounting metrics) for a given industry (slide 20).
A Material Engagement must incorporates SASB’s sustainability
accounting metrics as part of its KPIs setting process. Engagers who wish
to include additional indicators may do so as long as they can make a solid
case as to why the KPI is relevant to the sustainability issue, and to the
engaged company.
Nawar Alsaadi - 2020 25
Make it Heard
26. Set KPIs & Milestones, and Timelines (2/2)
Nawar Alsaadi - 2020
26
TimeLine
Request Complexity
• Sustainability
Disclosure
• Product Sustainability
Certification
• Total Change of
Corporate Strategy
• Change of Leadership
• Sustainability
Scenario Analysis
• Board Composition
• Forming Sustainability
Committee
• Embedding Sustainability in
Risk Assessment and
Corporate Decision Making
Make it Heard
27. Engagement Example (Static)
Nawar Alsaadi - 2020 27
Objective: Board
composition
(increase female
directors to at least
50% of board
members).
Company agrees in
principal to increase
women directors.
Company
nominates two new
women to the
board. Bringing total
women directors to
5 from 3, in a 9
members board.
Engagement
Starts
New nominees are
voted to the board.
1st Milestone 2nd Milestone Engagement
Ends
Engagement KPI
Milestones
6 months 12 months 18 months0 months
Timeline
Make it Heard
28. Engagement Example (Dynamic 1/2)
Nawar Alsaadi - 2020 28
Objectives:
1. Improve Hotel Group
labour practices
disclosure. (SASB -
SV0201-07). (Phase 1)
2. Improve Hotel Group
performance on
disclosed metric.
(Dependant on the
content of the disclosed
data – Phase 2.)
Hotel Group agrees to
disclose SASB SV0201-
07 (the amount of legal
and regulatory fines and
settlements associated
with labor law violations.)
Hotel Group discloses the
amount of legal and
regulatory fines and
settlements associated
with labor law violations.
Engagement Starts
(Phase 1)
Hotel Group refuses to
commit to improving
labour standards, cuts
off discussions.
1st Milestone
2nd Milestone
(Phase 1 completed)
Engagement KPIs
Phase 1
Milestones
4 months 8months 15 months0 months
Timeline
Make it Heard
11 months
Engagement resumes
with the goal to improve
performance on the
disclosed metric.
Engagement Resumes
(Phase 2 Starts)
3rd Milestone missed
• Escalation options
contemplated.
• Milestones, timelines
reset.
A Dynamic Material Engagement has
multiple KPIs with phased
implementation characteristics.
29. Engagement Example (Dynamic 2/2)
Nawar Alsaadi - 2020 29
The engager forms a
coalition with other
shareholders. They send a
strong worded letter
demanding action on labour
standards.
Hotel Group agrees to
resume discussions on
improving labour
standards.
Hotel Group agrees to
improve labour standards.
Engagement Escalates 1st Collective
Milestone
2nd Collective Milestone
(Active Engagement Ends)
Escalation from individual
engagement to collective.
22 months 26 months18 months
Make it Heard
Active Monitoring Phase
Active Monitoring Phase
Post Engagement follow-up.
Discuss progress to date,
review implementation
challenges, and assess
potential for active
reengagement if must be.
34months
Escalation Phase
Milestones
30. Select Engagement Approach (1/2)
Nawar Alsaadi - 2020 30
• The engagement approach is a function of the engagement final objective, the scope
and complexity of the SDG sustainability request, the desired/available timeline, the
urgency of the sustainability matter, the culture and prevailing regulatory environment,
the engager available resources.
• A long-term engagement approach is proper for a fundamental long-term sustainability
improvement (such as profound corporate strategy change at the investee company),
and vice versa, a short term engagement approach is appropriate for a simple
sustainability improvement (such as improving the investee company sustainability
disclosure).
• Individual engagements are best suited for an initial engagement, although in certain
circumstances, a collective engagement might be appropriate as an initial approach. An
individual engagement can evolve into a collective one as part of an escalation strategy.
• Private engagements are generally perceived to be less hostile than public
engagements. Public engagements are often the product of a failed private
engagement. In certain cultures, where saving face is important, its best to focus on a
private approach.
• Meeting company officials in person or individually, is best taken as a second step, after
an initial written letter has been submitted. Although in an extreme situation, a meeting
might be initiated without prior communication.
Make it Heard
31. Select Engagement Approach (2/2)
Nawar Alsaadi - 2020 31
• Collective engagements generally have a bigger impact, however collective engagements
are much harder to organize than individual engagements. Accordingly, one should be aware
of the trade off between impact and efficiency when deciding on an individual or collective
engagement approach. ‘Acting in concert’ regulation in certain jurisdictions can further
complicate a collective engagement approach.
• Which officer to engage at a given company is a function of the sustainability factor subject to
engagement. The Chairman or Lead Director might be the right person to approach in a
governance focused engagement, while the Head of the Sustainability Committee or Chief
Sustainability Officer might be the best person to approach when discussing an issue such
as sustainability disclosure. Certain officers might be more readily available for a meeting or
a phone call than others.
• An individual or a collective engagement meeting may commence informally, as a side
discussion during an annual shareholders’ meeting, investors’ meeting, or other
formal/informal event. An investor may choose an informal engagement approach by design.
• Choosing the right engagement approach is essential to the success of a given engagement.
Engagers should choose their engagement approach carefully, and bespoke their approach
to the specifics of the sustainability issue and the particulars of the engaged company. One-
size fits all is not an effective engagement approach.
Make it Heard
32. Communication Method
Nawar Alsaadi - 2020
32
The chosen communication method must be consistent with the nature/seriousness of the
engagement, its urgency, the culture of the engaged company, and the person or persons you are
engaging with. In this table we will use the boiled egg analogy to characterize the harshness
classification of the various communication methods:
Individual Engagement Collective Engagement
Generic Letter
(Soft)
Generic Letter
(Soft)
Tailored Letter/Conference Call
(Soft/Medium)
Tailored Letter/Conf. Call
(Medium)
Periodic/Informal Meeting (in
person, virtual)
(Soft/Medium)
Periodic/Informal Meeting (in
person, virtual)
(Medium-Soft/Medium)
Special Meeting (in person,
virtual)
(Medium/Hard)
Special Meeting (in person,
virtual)
(Hard)
Private
(Soft/Medium/Hard)
Private
(Medium/Hard)
Public
(Hard)
Public
(Hard/Very Hard)
In most cases, the
‘hardness’ of the
communication
method is amplified
when employed in a
collective setting.
In certain cultures
(such as in Asia/Mid-
East) public
communications are
perceived far more
harshly and must be
used with care.
UrgentCompatible
33. Engagement Letter writing tips!
For this slide, we will refer to the excellent advice* of Anita Green at Wespath Investment Management on
ways to write an effective engagement letter:
1. Demonstrate your knowledge of the company. Show that you have done your homework and understand the
company’s business model and how a particular risk or issue relates to the company’s operations. Use
language that will resonate with the company, avoiding jargon or acronyms.
2. Be clear. Early in the letter, communicate the action you are requesting. Many letters build the case first,
which pushes the “ask” to near the end where it may be overlooked. Executives are busy people. Say what
you want up front, followed by your supporting arguments.
3. Be brief. Shareholders tend to lay out the full business case and all supporting details in every letter, resulting
in a document that is so long it loses impact. Collaborative letters are particularly challenging because
signatories want their individual perspectives to be represented. Compromises may be required to achieve
the shared end-goal. Use the body of the letter to introduce your points, and use footnotes, web links and
appendices to elaborate. the credibility of the sponsor. Remember, your organization’s reputation is at stake
with every letter you send and every engagement action you pursue. Following these simple steps will send
the message that you are a serious, thoughtful investor who deserves to be listened to.
4. Write to the highest professional standards. Unfortunately, an alarming number of poorly written letters are
circulated for sign-on. A clear, concise, high-quality letter establishes the credibility of both the argument and
the author(s). Research your sources to ensure that they are reputable. Always ask someone else to review
and edit. Read it aloud, sleep on it, and read it again.
*21st Century Engagement – 2017 -Blackrock & Ceres joint publication
Nawar Alsaadi - 2020 33
Make it Heard
34. Engagement Escalation
According to Macmillan, the verb ‘escalate’ was coined in the 1920s, it meant
to ‘use an escalator’. In the late 1950s, it was expanded to mean ‘increase
rapidly’ mostly in reference to a nuclear threat.
In an engagement context we should refer back to the original meaning,
because when it comes to engagement the last thing you want to do is to
escalate rapidly (unless it’s a truly urgent matter).
While Engagement should be rooted in a definable and clear objective, the
engagement process itself is more of an art rather than a science.
Engagement is about getting people in power (C-Suite, Board members) to
do things that they might not necessarily agree with, or wish to be involved
in. Your job as the engager is to get them to buy into your sustainable vision,
and this requires a careful balance between offering a carrot and wielding a
stick.
Escalation is expensive and time consuming, your goal should be to win your
engagement without resorting to escalation. “The supreme art of war is to
subdue the enemy without fighting.” Sun Tzu, The Art of War.
Nawar Alsaadi - 2020 34
Make it Heard
35. When/and if to escalate?
• The decision to and how far to escalate an engagement (in case of no or slow
progress) should be taken prior to the start of the engagement. The importance of
the sustainability matter you are engaging on, its urgency, and your internal
stewardship/engagement policy, are vital factors in determining when and if to
escalate.
• An escalation could take place at any phase during the engagement process, and
it’s a function of the progress, or lack thereof, with the investee company. Missed
deadlines, and failure to reach key milestones are indicators of a potential need to
escalate.
• An escalation could be followed by a de-escalation or vice versa, depending on
the progress of the negotiations.
• You should only escalate if you are able and willing to manage the
consequences. Escalate when you are ready to do so. Internal backing, buy-in,
for your escalation strategy must be fully secured prior to escalation.
• Don’t jump the gun, a hasty escalation can weaken your position rather than
strengthen it, escalate strategically.
Nawar Alsaadi - 2020 35
Make it Heard
36. How to escalate? (1/2)
• How to escalate an engagement is highly depended on where you are in the
engagement process, how far you are from your objective, and on what
engagement approach you are pursuing (private or public, individual or collective
… etc.).
• The manner in which you escalate is equally a function of the engagement
context, existing regulation, prevailing stewardship code, the culture of the
investee company and country where it is located, the depth of and trust in the
relationship between you and the investee company management and board, the
size of your investment, the nature and urgency of your final objective.
• How to escalate is also a function of your ability to de-escalate post escalation,
certain escalation strategies (i.e. turning a private engagement in a public one
can’t be dialed back easily). Don’t paint yourself or the investee company into a
corner.
• Make sure the chosen escalation method is consistent with your ultimate
objective. For example, long term material sustainability objectives require a
patient engagement approach, and thus require a carefully dosed escalation
mechanism.
Nawar Alsaadi - 2020 36
Make it Heard
37. How to escalate? (2/2)
Nawar Alsaadi - 2020
*Some of these options may not be
readily available in certain markets.
The Investor Forum in the UK identifies five
methods for individual investor-company
engagement. We will use those as basis for our
escalation options:
Send a tailored letter, if not enough
Request an in person meeting
Request an unscheduled meeting,
involve other directors/executives,
threaten use of proxy vote
Involve other shareholders, make
the engagement public, threaten
use of proxy vote, rebuke company
at the annual shareholder meeting.
or a combination thereof
Submit a shareholder resolution*,
call a shareholder meeting*, seek
board seat*, reduce investment, or
exit investment
Color Coded Escalation
Options:
Please note the highlighted escalation approach applies to individual engagements
only. Collective engagements have different dynamics, and thus different
escalation options.
Escalation
Depending on the engagement progress, the five color
coded escalation options can be dialed back, and/or
re-initiated.
Make it Heard
38. Key Points to Remember
• Always keep in mind your final objective when choosing to escalate, don’t make
the process about ‘ego’, focus on the outcome.
• Don’t jump the gun, a hasty escalation can weaken your position rather than
strengthen it, escalate strategically.
• Don’t be too rigid, be open to a compromise as long as the proposed compromise
meets the core of your objective. A sure partial outcome is better than a zero-
sustainability outcome.
• Use the ‘zeitgeist’ to your advantage, if a given topic is gaining a lot of media
coverage use the momentum to your advantage.
• Be persistent, keep pushing for your desired outcome. Be dynamic with your
escalation choice, push and pull, be creative, be diplomatic, yet firm, know when
to give ground, and when to stand your ground.
• Monitor the agreed upon outcome, make sure the investee company is delivering
on what was promised, be ready to re-engage if must be.
Nawar Alsaadi - 2020 38
“Many are stubborn in pursuit of the path they have chosen, few in pursuit of the goal.”
Friedrich Nietzsche
Make it Heard
39. Conclusion
Nawar Alsaadi - 2020 39
Material Engagement is the missing link between the sharp growth in ESG aligned assets,
and the lack of progress on many of the pressing environmental, social and governance
issues facing humanity today. The sustainability priorities of Material Engagement are
grounded in human rights by virtue of its focus on the 2030 UN Sustainable Development
Goals (SDGs). Furthermore, by linking the SDGs to SASB’s Materiality Map, the Material
Engagement approach provides the legal, commercial and strategic impetus for
companies to make the SDGs a reality. Said another way, Material Engagement is an
approach that combines the heart (SDGs) with the brain (SASB) thus birthing a new
sustainable business reality, one that’s rooted in human rights, and guided by the power
and genius of private enterprise.
In addition to its powerful intellectual and moral foundation, Material Engagement offers a
turn-key sustainability engagement solution, with relevant KPIs, scope and milestones
blueprints, clear timelines, escalation pathways, and communication methods. Material
Engagement is the missing link between the world we have, and the world humanity
deserves.
40. Nawar Alsaadi - 2020 40
Make it Matter
(SASB).
Make it Heard
(Process).
Make it Real
(SDGs).
Thank you!