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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.”
STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.
The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.
To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.
The webcast can be followed live here and a recording will be available afterwards.
Information on EQT AB’s financial reporting
The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.
The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.
Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]
Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826
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- Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
- Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
- Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
- Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
- PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
- Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
- 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
- CEO reaffirms Kia’s commitment to ESG management
SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.
Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.
During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.
The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.
“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”
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VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.
As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.
The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.
Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.
About BioVaxys Technology Corp.
BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.
ON BEHALF OF THE BOARD
Signed “James Passin“
James Passin, Chief Executive Officer
Phone: +1 646 452 7054
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