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Asset Owners Highly Committed to ESG As Implementation Challenges Persist; Morningstar Survey

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8 months ago

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As stakes rise, institutional investors address an increasingly complex and challenging sustainable investment environment.

CHICAGO, Oct. 4, 2023 /PRNewswire/ — Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment insights, today published findings from its second annual Voice of the Asset Owner survey, revealing that two of three asset owners (67%) believe ESG has become more material to investment policy in the past five years, with the environment and issues around net-zero emissions cited as key ESG materiality drivers. And while implementation challenges continue to persist, this global cohort reported increasing their allocation to ESG strategies.

The global quantitative survey, conducted by Morningstar Indexes and Morningstar Sustainalytics, included 500 asset owners across 11 countries in North America, Europe and APAC with combined assets of approximately $10.7 trillion.  Survey questions were based on direct interviews conducted with 10 asset owners earlier this year.

Those surveyed included pension funds, insurance general accounts, outsourced CIOs and family offices, with six in 10 managing more than $1 billion and over a quarter managing $10 billion or more. Questions covered investment approach, the materiality of ESG considerations, perspectives on regulation and implementation and the relative quality of ESG data, ratings and indexes.

Thomas Kuh – Head of ESG Strategy, Morningstar Indexes, said: “The second Morningstar Voice of the Asset Owner survey confirms that institutional investors remain highly committed to integrating ESG factors into their global investments, but challenges related to lack of regulatory clarity and the need for better data and resources continue to persist.” 

Growing Challenges to Implementation. Asset owners identified a range of growing ESG implementation challenges this year, ranking market data, the market environment, and regulation highest. Tellingly, participants did not rate any ESG challenges as having decreased:

  • ESG market data is hindered by lack of standardization (30%) as well as reliability and timeliness (29%), according to those surveyed, both up from 15% last year.
  • Impact on returns was again the leading ESG implementation issue, cited by nearly four in 10 (38%), as sustainable investment strategies had a challenging year in 2022 amid the strong performance of the carbon-intensive energy and utilities sectors and the downturn of more ESG-friendly technology stocks.
  • Three in 10 surveyed cited ESG regulation as an implementation challenge, up 10 percentage points from 2022. 

Regulatory Confusion Another Growing Challenge. While asset owners participating in Morningstar’s qualitative discussions earlier this year expressed optimism about the usefulness of ESG regulation, they also expressed growing frustration echoed in the quantitative survey: 

  • Those surveyed saying regulations and related reporting requirements are a help fell by 11 percentage points from 60% in 2022 to 49%. The drop is especially pronounced in APAC nations, falling from 59% last year to 46% this year and those with AUM of $10 billion or more (63% last year, 49% this year). Those working for pension funds (46%) and insurance general accounts (45%) were more likely to find ESG regulations less helpful.
  • Lack of clarity and rising costs are ESG regulation pain points. Among the 28% of those surveyed saying ESG regulations have been a hindrance, more than four in 10 (42%) see them as confusing or unclear (up from 29% last year). This rises to 46% in Asia. And only 18% of the 49% globally who say ESG regulations have helped this year believe they have minimal costs, down 20 percentage points from 38% in 2022 and dropping to 15% among European asset owners.

Asset Owners a Catalyst for Change. While survey respondents still see a marked improvement in the quality of ESG data, ratings, indexes and tools in the past five years, asset owners’ needs continue to evolve:

  • Nearly half (48%) would benefit from more accuracy, with more accurate ratings a growing priority for those with AUM of $10 billion or greater (53% this year from 42% in 2022).
  • When asked which elements of ESG ratings, indexes and data need to be improved most over the next five years, quality and relevance won out for the second consecutive year.

Asset owners are engaging with a range of stakeholders to close gaps around the quality of ESG data, ratings and tools, holding international standard setting bodies (38%), rating agencies (36%) and politicians (34%) most responsible. 

Artificial intelligence is expected to have a growing impact. The majority predict that AI adoption will increase in five years, most likely in data collection (70%) and ESG analysis (66%), which jumps to 75% and 71%, respectively, in Europe. 

“As stewards of some of the largest pools of global capital, asset owners have stayed anchored to their fiduciary duty despite a range of challenges related to ESG market data, regulatory confusion and market performance,” added Arnold Gast, ESG Research Director at Morningstar Sustainalytics. “As their job becomes increasingly complex, asset owners continue to raise their expectations of a range of key stakeholders to provide better insight, research, data and tools to address the evolving sustainable investment landscape.” 

About Morningstar Indexes and Morningstar Sustainalytics
Morningstar Indexes and Morningstar Sustainalytics have recently formed a strategic alignment to provide a more holistic and robust ESG offering to Morningstar clients. This growing collaboration includes ESG-related products, insights and research. 

As the fastest-growing global index provider for the last two years according to Burton-Taylor International Consulting, Morningstar Indexes was built to keep up with the evolving needs of investors—and to be a leading-edge advocate for them. Morningstar’s rich heritage as a transparent, investor-focused leader in data and research uniquely equips Morningstar Indexes to support individuals, institutions, wealth managers and advisors in navigating investment opportunities across all major asset classes, styles, and strategies. From assessing risk and return with traditional benchmarks to helping investors effectively incorporate ESG objectives into their investment process, our range of index solutions spans an investment landscape as diverse as investors themselves. We help investors answer today’s increasingly complex questions so that they can more easily reach tomorrow’s goals. Please visit indexes.morningstar.com for more information. 

Morningstar Sustainalytics is a leading ESG data, research, and ratings firm that supports investors around the world with the development and implementation of responsible investment strategies. For more than 30 years, the firm has been at the forefront of developing high-quality, innovative solutions to meet the evolving needs of global investors. Today, Morningstar Sustainalytics works with hundreds of the world’s leading asset managers and pension funds who incorporate ESG information and assessments into their investment processes. The firm also works with hundreds of companies and their financial intermediaries to help them consider material sustainability factors in policies, practices, and capital projects. Morningstar Sustainalytics has analysts around the world with varied multidisciplinary expertise across more than 40 industry groups. For more information, visit www.sustainalytics.com.

About Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent investment insights in North America, Europe, Australia, and Asia. The Company offers an extensive line of products and services for individual investors, financial advisors, asset managers and owners, retirement plan providers and sponsors, and institutional investors in the debt and private capital markets. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, debt securities, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with approximately $264 billion in assets under advisement and management as of June 30, 2023. The Company operates through wholly- or majority-owned subsidiaries in 32 countries. For more information, visit www.morningstar.com/company.  Follow Morningstar on Twitter @MorningstarInc.

©2023 Morningstar, Inc. All Rights Reserved.

MORN-P

Morningstar Media Contacts:
Tim Benedict, +1 203 339-1912 or [email protected]
Orion Sang, Edelman Smithfield, + 734 678-2187 or [email protected]

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Invitation to presentation of EQT AB’s Q1 Announcement 2024

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1 month ago

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April 5, 2024

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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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https://mb.cision.com/Main/87/3956826/2712771.pdf

Invitation to presentation of EQT AB’s Q1 Announcement 2024

https://news.cision.com/eqt/i/eqt-ab-group,c3285895

EQT AB Group

 

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Kia presents roadmap to lead global electrification era through EVs, HEVs and PBVs

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1 month ago

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April 5, 2024

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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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BioVaxys Technology Corp. Provides Bi-Weekly MCTO Status Update

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April 5, 2024

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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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