ESG Analysis Under researched companies Environmental Investment Services Asia Limited Keith Olson, CFA EISAL 27 th  May 2...
<ul><ul><li>First and only company in Hong Kong  specialising  in environmental investing </li></ul></ul><ul><ul><li>Well-...
TBLI: ESG Analysis Under researched EISAL
TBLI: ESG Analysis Under researched <ul><li>“ Normal”  research is difficult enough </li></ul>EISAL Webpages: 111 million ...
TBLI: ESG Analysis Managing expectations for Proprietary Research EISAL <ul><li>What information do we really need? </li><...
TBLI: ESG Analysis Managing expectations for Proprietary Research EISAL <ul><li>What information do we really need? </li><...
TBLI: ESG Analysis Managing expectations for Proprietary Research <ul><li>What information do we really need? </li></ul><u...
TBLI: ESG Analysis Engagement with Management EISAL <ul><li>Few minority shareholders will ask ESG questions </li></ul><ul...
TBLI: ESG Analysis Engagement with Management EISAL <ul><li>Few minority shareholders will ask ESG questions </li></ul><ul...
TBLI: ESG Analysis Balancing factors EISAL Taj Mahal – front view
TBLI: ESG Analysis Balancing factors EISAL Taj Mahal – back view
TBLI: ESG Analysis Balancing factors EISAL <ul><li>Disclosure of financial and ESG information </li></ul><ul><li>Transpare...
TBLI: ESG Analysis Other sources & Key messages EISAL The global NGO sector now has an annual income of US$8 tr Source:  O...
Green Dragon Fund The EISAL Advantage   Keith Olson, CFA [email_address] Tel.: +852 2877 0088 www.eisal.com   Thank you! Q&A
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ESG Analysis - Under Researched Companies

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Keith Olson, Director - Environmental Investment Services Asia Ltd. - People's Republic of China

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ESG Analysis - Under Researched Companies

  1. 1. ESG Analysis Under researched companies Environmental Investment Services Asia Limited Keith Olson, CFA EISAL 27 th May 2010
  2. 2. <ul><ul><li>First and only company in Hong Kong specialising in environmental investing </li></ul></ul><ul><ul><li>Well-managed value and growth companies in Asia with significant exposure to the environmental sector and the development of the low carbon economy </li></ul></ul><ul><ul><li>Green Dragon Fund >3 year track record </li></ul></ul>TBLI: ESG Analysis About EISAL Long/Short Equity – Thematic Long Bias EISAL Advantage EISAL PERFORMANCE Primary Focus PIONEERING Just in Asia PROFILE Preferred Investor PROPRIETARY In-House Research PROFESSIONAL Experienced Team PASSIONATE This is important
  3. 3. TBLI: ESG Analysis Under researched EISAL
  4. 4. TBLI: ESG Analysis Under researched <ul><li>“ Normal” research is difficult enough </li></ul>EISAL Webpages: 111 million 1 million Analysts: 39 1 <ul><li>Not as used to dealing with investors </li></ul><ul><li>Corporate disclosure </li></ul><ul><li>“ ESG” analysis is even more difficult </li></ul><ul><li>Not used to answering ESG questions </li></ul>
  5. 5. TBLI: ESG Analysis Managing expectations for Proprietary Research EISAL <ul><li>What information do we really need? </li></ul><ul><li>Electricity/water usage, CO 2 emissions... </li></ul>
  6. 6. TBLI: ESG Analysis Managing expectations for Proprietary Research EISAL <ul><li>What information do we really need? </li></ul><ul><li>Electricity/water usage, CO 2 emissions... </li></ul><ul><li>What questions should we ask? </li></ul><ul><li>Targets, reports, officers, verification </li></ul>
  7. 7. TBLI: ESG Analysis Managing expectations for Proprietary Research <ul><li>What information do we really need? </li></ul><ul><li>Electricity/water usage, CO 2 emissions... </li></ul><ul><li>What questions should we ask? </li></ul><ul><li>Targets, reports, officers, verification </li></ul><ul><li>What key information is more practical to looking for? </li></ul><ul><li>Commitment, best practice, momentum </li></ul><ul><li>Time & manpower intensive </li></ul><ul><li>Costly & not often at board level </li></ul>
  8. 8. TBLI: ESG Analysis Engagement with Management EISAL <ul><li>Few minority shareholders will ask ESG questions </li></ul><ul><li>Discuss where we’re coming from... </li></ul><ul><li>Discuss why it’s good for the company </li></ul>
  9. 9. TBLI: ESG Analysis Engagement with Management EISAL <ul><li>Few minority shareholders will ask ESG questions </li></ul><ul><li>Discuss where we’re coming from... </li></ul><ul><li>Discuss why it’s good for the company </li></ul><ul><li>Questions relevant to the company </li></ul><ul><li>Too small for major international surveys </li></ul><ul><li>ESG vs “environment” </li></ul><ul><li>Preferred investor & friendly shareholder </li></ul><ul><li>Information exchange </li></ul><ul><li>Stakeholder wealth </li></ul>
  10. 10. TBLI: ESG Analysis Balancing factors EISAL Taj Mahal – front view
  11. 11. TBLI: ESG Analysis Balancing factors EISAL Taj Mahal – back view
  12. 12. TBLI: ESG Analysis Balancing factors EISAL <ul><li>Disclosure of financial and ESG information </li></ul><ul><li>Transparency is good for reputation </li></ul><ul><li>Sensitivity to cultural differences </li></ul><ul><li>Momentum is fundamental </li></ul><ul><li>Management needs to be engaged </li></ul><ul><li>Changes need to be visible </li></ul><ul><li>Financials are very important </li></ul><ul><li>Qualitative & quantitative </li></ul><ul><li>Checks & balances </li></ul>
  13. 13. TBLI: ESG Analysis Other sources & Key messages EISAL The global NGO sector now has an annual income of US$8 tr Source: Oxford Development Abroad – making it the world’s 8th largest economy.... <ul><li>Under researched companies are very different </li></ul><ul><li>ESG disclosure is difficult for small companies </li></ul><ul><li>It's the momentum & direction that counts </li></ul>
  14. 14. Green Dragon Fund The EISAL Advantage Keith Olson, CFA [email_address] Tel.: +852 2877 0088 www.eisal.com Thank you! Q&A

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