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Measuring Businesses’ ESG Performance a Growing Challenge Standard Measures and Data Needed
The rapid growth of investment based on environmental, social and governance (ESG) criteria requires innovation and co-operation to create reliable risk disclosure systems, speakers said at the “Integration of ESG and Climate Risks in Investment Management” virtual conference hosted by Imperial College Business School, Brevan Howard Centre for Financial Analysis and Ping An Technology, a member of Ping An Insurance (Group) Company of China, Ltd. (hereafter “Ping An” or the “Group”, HKEX: 2318; SSE: 601318).
With increasing numbers of investment managers seeking to integrate ESG factors into their portfolio management decisions, the challenge of measuring and comparing companies’ ESG performance is growing in importance. Advances in technology are making more sophisticated analysis tools available, speakers said, but there are different views on what data is relevant and how disclosure frameworks should be standardized.
Ping An: Understand ourselves first
Ping An’s fintech arm, OneConnect Financial Technology, is developing intelligent tools for companies to gather their own ESG data for publication. “We need to understand ourselves first,” said Tan Bin Ru, OneConnect Southeast Asia CEO. “Our platform monitors 400 indicators across the 40 units of Ping An Group, then places us in a wider context by adding intelligence which benchmarks us against our industry peers.”
While such insight is invaluable to the company, regulations set out how companies report this data to the market. “The Hong Kong Stock Exchange has worked to standardize disclosure of ESG risks,” said Grace Hui, Head of Green and Sustainable Finance at Hong Kong Exchanges and Clearing Limited (HKEX). “As a regulator and exchange operator, we must supervise fair and orderly ESG markets – listed companies must comply and commit to conduct their business well.”
Balanced targets
A Singapore Exchange (SGX) survey on ESG disclosures by Singapore-listed companies showed issues are concerned about differing ESG risk criteria and frameworks. They called for more guidance on environmental standards, particularly regarding greenhouse gas emissions. “Companies tend to disclose their successes, so those reporting less favorable numbers are the minority,” said Herry Cho, Head of Sustainability and Sustainable Finance at SGX. “But providing detail on progress over time is essential, so we are encouraging more balanced target-setting.”
While regulators set the rules for companies to follow, the responsibility for implementing policies and setting objectives falls on company management. “ESG is more than a label – people need to look at what’s underneath,” said Christine Chow, Global Head of Strategic Governance, IHS Markit. “Companies shouldn’t see ESG as a compliance issue: it is a strategy option which over time should be embedded in all aspects of the business.”
Ping An’s OneConnect has partnered with the Singapore, Shanghai and Shenzhen stock exchanges to establish systems that enable listed companies to gather and analyze comprehensive ESG data in ways that are comparable and actionable. Companies can generate detailed reports with valuable insights at the peer group, sector and country levels.
Disclosure linked with performance
Companies that work to quantify and disclose their ESG risks can generate even greater value. Ping An’s research partnership with Imperial College Business School has used artificial intelligence (AI) to analyze how well listed companies are covering key ESG themes in their reports. “This work has also established a statistically significant relationship between disclosures and companies’ financial performance,” said Enrico Biffis, Associate Professor of Finance, Imperial College Business School. “NLP (natural language processing) analysis of climate indicators can flag which companies are objectively greener than others – essentially exposing greenwashing.”
For investors, a lack of a comprehensive ESG taxonomy, a classification system of environmentally sustainable economic activities, is the major stumbling block for assessing companies’ ESG credentials. Lise Renelleau, Head of Sustainability, Rosenberg Equities at AXA Investment Management, said investors are being proactive. “We need a new ecosystem to deliver a new ESG and climate taxonomy. Investors need to understand these elements even if it means spending time and resources,” she explains. “We recommend starting from broad principles – for example, how your portfolios support the Paris [Agreement] goals.”
Ian Simm, founder and CEO of Impax Asset Management, stressed that the three elements of ESG – environment, social and governance, “are less three separate terms but more a prompt for companies to do better – not a box-ticking exercise but a radar sweep to take in the whole picture of a company with a focus on materiality. And this will lead to better information and assessment of risks and opportunities, as well as cost of capital for the companies.”
Ocean of data
The question of how to apply ESG data to address real-world climate impacts through investment decisions concerned several speakers. “Actionable data can be the basis for creating a range of investment aids and products,” said Chex Yu, Deputy Director of Strategy at Ping An Technology. “These extend the usefulness of information to create long-term insights.”
The risk of being swamped by too much unfocused data can be managed with smart technology, said Vanessa Barnett, Global Head of ESG at FactSet. “Data integration makes the datasets work together to produce actionable insights,” she said. “Regulation can define what is disclosed and in what formats, but vendors enable companies and investors to share data and compare like with like.”
Helena Fung, Head of Sustainable Investment, Asia Pacific, at FTSE Russell, said that well-designed benchmarks can help embed sustainable practices at listed companies by directing investor funds to companies that are well-managed. “Newer benchmarks can help with transition pathways by setting standards for management quality and carbon performance,” she said. “We’re seeing more and more passive investing which dovetails well with sustainable benchmarks.”
The conference speakers representing corporations, investors, vendors and regulators were unanimous in acknowledging the importance of technology and data partnerships to ESG integration in investment management. “It takes an ecosystem approach to unite the many players engaged in ESG investing,” said Sohee Park, Chief Product Officer, Ping An Technology. “Data and technology are powerful tools, but working together to share our insights is what makes complex systems work.”
HAMILTON, Bermuda, Dec. 19, 2024 /PRNewswire/ — FXGiants has recently launched a series of exciting bonuses. Participants on the FXGiants‘ online trading platform can now amplify their trading potential with a broad spectrum of bonuses that are tailored to fit different trading needs. These bonuses not only add extra value but also act as a safety net for traders to explore the financial markets without risking too much.
“Our goal with these deposit bonus options is to empower traders of all levels,” said Christopher Oates, the spokesperson for FXGiants. “Under this scheme, we have diverse categories, including Bonus Maximiser, Booster Bonus, and the Bonus Advantage. These bonuses are designed to provide flexibility to clients as they trade on the FXGiants online trading platform.”
Exploring the FXGiants Bonus Options
The bonus options at FXGiants come with versatile advantages. The Bonus Maximiser provides a full 100% boost on all deposits without limit, whereas the Booster Bonus offers a 40% bonus on all deposits up to $4,000 for traders who want to moderately enhance their capital. On the other hand, the Bonus Advantage provides a 60% bonus on deposits up to $5,000, giving traders a better handle on risk. These bonuses enhance the trading experience on the FXGiants online trading platform.
“At FXGiants, we are committed to a trading environment that meets the evolving needs of our clients,” Oates added. “Our online trading platform is a robust ecosystem designed to support traders with advanced execution, extensive market insights, and continuous improvements. As we move forward, we will keep expanding our offerings to ensure that traders have access to the best resources and support.”
About FXGiants
FXGiants stands out as an international broker providing access to over 300 financial instruments across 6 asset classes. Traders can operate through the popular MetaTrader 4 platform, and benefit from exceptional trading conditions such as competitive spreads, flexible leverage, and fast execution. With deposit boosters, partnership programs, an educational blog, and account types tailored to both novice and experienced traders, FXGiants remains dedicated to delivering a one-stop trading solution.
Terms & Conditions apply. Bonus cannot be withdrawn.
All trading involves risk. It is possible to lose all your capital.
FXGiants is a trade name of Notesco Int Limited; a company incorporated in Anguilla with registration number A000001800 and registered address The Valley, AI2640, Cosely Drive, 1338, AI.
Website: https://www.fxgiants.com/
View original content:https://www.prnewswire.co.uk/news-releases/fxgiants-online-trading-platform-launches-bonus-initiative-to-reward-traders-302338463.html
BEIJING, Dec. 23, 2024 /PRNewswire/ — Cheung Kong Graduate School of Business (CKGSB) successfully hosted the Western China MBA Professor Training Program in collaboration with the China National MBA Education Supervisory Committee and Shantou University School of Business on December 17 and 18, 2024. 58 professors from over 40 universities in China nationwide, mostly western China, attended this training.
Since 2007, CKGSB has been aspiring to address the pressing disparities in management education between eastern and western China with its MBA professor training program. As of 2024, the program has trained 372 professors from 155 universities across 22 provinces, 4 autonomous regions, 3 direct-administered municipality in China, indirectly impacting tens of thousands of MBA students.
This year, the training focused on social innovation and business for good, a topic many participating professors found lacking in their day-to-day teaching and research. Professor ZHU Rui (Juliet), CKGSB Professor of Marketing and Director of the ESG and Social Innovation Center, led the training. She introduced how CKGSB has been innovating with the integration of business for good in management education, and how our relevant practice-based course has already helped 2,800+ students integrate ESG into their businesses. Professor Zhu also hosted an interactive workshop with the training’s participants on how they may build this idea into their teaching.
Participants shared in their post-program survey that Professor Zhu’s teaching and her ESG Assessment map gave them a new perspective on how to balance profits and social responsibilities. Many also felt inspired on how to bridge the gap between research and practice.
Recognized in CKGSB’s 2022 and 2024 ESG and Social Innovation Reports and honored as a finalist for the 2021 China Social Impact Award by the United Nations and British Chamber of Commerce, this program exemplifies CKGSB’s impact in this critical area. Through partnerships with the government, NGOs, and business schools, this initiative has made significant progress in promoting quality education and reducing inequalities.
For more information on CKGSB’s ESG and social innovation efforts, visit our ESG and social innovation website.
About CKGSB
Established in Beijing in November 2002, CKGSB is China’s first privately-funded and research-driven business school. The school aims to cultivate transformative business leaders with a global vision, sense of social responsibility, innovative mindset, and ability to lead with empathy and compassion (https://english.ckgsb.edu.cn).
View original content:https://www.prnewswire.co.uk/news-releases/ckgsb-successfully-hosts-2024-mba-professor-training-program-for-western-china-302338458.html
VADUZ, Liechtenstein, Dec. 23, 2024 /PRNewswire/ — Wirex, a global leader in bridging traditional and digital finance, has announced the addition of VNX Euro (VEUR) and VNX Swiss Franc (VCHF) to its platform. With this integration, Wirex users can now spend VEUR and VCHF directly through their Wirex cards, streamlining everyday transactions and enhancing convenience.
Wirex cards allow users to use VEUR and VCHF in various ways. Whether users receive payments in VEUR and/or VCHF, use them for remittances (including cross-border transactions), or sell digital assets for stablecoins instead of fiat, Wirex provides the simplest solution for spending in real life. Users can instantly convert their stablecoins into fiat currency and send them directly to their bank accounts, catering to those who prefer traditional banking options.
Pavel Matveev, Co-founder of Wirex, said: “We’re excited to welcome VNX Euro (VEUR) and VNX Swiss Franc (VCHF) to Wirex. This addition allows our users to effortlessly spend stablecoins in real life, whether for daily purchases, remittances, or managing their digital assets. At Wirex, our goal is to make digital currencies as convenient and versatile as traditional money, and VEUR and VCHF are another step toward achieving that vision.”
Future Features
Additional features will be rolled out later after the launch, complementing the immediate benefits of VEUR and VCHF. These include loans and high-yield X-Accounts, both of which are growing in popularity among Wirex users. Loans offer a smart and tax-efficient way to access liquidity without selling underlying digital assets. Users can leverage their BTC, ETH, SOL, and other digital assets, as collateral for loans in stablecoins, allowing them to benefit from potential appreciation while accessing funds without triggering taxable events.
X-Accounts provide an opportunity for users to earn industry-leading yields of up to 15% APY on their stablecoin balances, enhancing the overall value proposition of holding VEUR and VCHF within the Wirex ecosystem.
Upcoming Advanced Opportunities
VEUR and VCHF have the potential to become preferred options in Wirex’s advanced trading products, such as Wirex DUO and Wirex Multiply. Notably, Euro-backed stablecoins have already demonstrated significantly higher usage among Wirex users than larger USD alternatives, highlighting strong demand for Euro-denominated trading options.
As Wirex explores adding VEUR and VCHF to these products, it aims to further strengthen its position as a leader in digital finance by offering innovative solutions that bridge the gap between traditional finance and digital assets.
Disclaimer: The term “stablecoin” is used herein in relation to VEUR and VCHF for marketing purposes. The reader however shall understand that VEUR and VCHF are fiat-referenced tokens which are described in more detail in the VNX Gold based Fiat Referenced Tokens (FRT) Terms and Conditions which are available for review at www.vnx.li
About VEUR and VCHF
Both VEUR and VCHF are multichain tokens referencing the Euro and Swiss Franc, developed by VNX, generated by a licensed token generator under the Blockchain Act in Liechtenstein. VEUR and VCHF are supported by the reserves ensuring 1:1 parity and represent a reliable digital asset in the crypto world. These tokens combine the stability of fiat currencies with the convenience of crypto, enabling quick, low-cost, and 24/7 accessible cross-border payments while opening new opportunities in DeFi.
About Wirex
Wirex is a prominent UK-based digital payments platform with over 6 million customers spread across 130 countries. It offers secure accounts, making it easy for users to store, purchase, and exchange multiple currencies seamlessly. As a principal member of both Visa and Mastercard, Wirex goes beyond traditional services, embracing the evolving trends of Web3 to provide mainstream access to digital finance and wealth management. Having processed transactions totalling $20 billion, Wirex aims to contribute to the adoption of a cashless society by facilitating straightforward transactions in various currencies worldwide. Wirex is simplifying digital payments, making it more accessible and convenient for people across the globe.
Photo: https://mma.prnewswire.com/media/2586836/Wirex_VEUR_VCHF.jpg
Logo: https://mma.prnewswire.com/media/2031625/5077408/Wirex_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/wirex-adds-veur-and-vchf-stablecoins-to-its-platform-for-seamless-spending-302338369.html
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