INTRODUCTION

Initiated in the seventies, SRI research gradually focused on an ethical approach to corporate activity. In the nineties, it changed its approach to assessing the interaction between a company and its “stakeholders”, a more or less commonly accepted concept. More recently, major financial intermediaries have set up teams specialized in risk analysis, covering economic, social and environmental risks that a company faces in its development. What prospects does this industrialization of SRI research offer? This is what the Workshop proposes to tackle through a panel of experts representing all the players involved in the investment process.

THE DRIVERS OF THIS NEW DEVELOPMENT

1. Development of methodologies for use by SRI research:
Management of external factors, stakeholder-management model, shareholder value-management model…

2. Corporate communication related to sustainability issues
Number of sustainability reports published, quality of data disclosed…

3. Investors’ requests for more “market-related” recommendations
Number of sustainability funds, performance of sustainability funds…

4. Raising the awareness of financial analysts to sustainability issues
Amount of funding dedicated to SRI issues, training programs for financial analysts…

CONDITIONS FOR ITS SUCCESS, TO BE DISCUSSED AT SMIA’05

• Under what conditions are the models used to assess the impacts of environmental and social issues on companies’ ability to generate cash in the long term relevant?
• How can brokers make Investor Relations Officers aware of these current developments in the financial market? What are the implications for corporate communication?
• What is the impact of SRI research on the stock-selection process? Which SRI research model should a sustainability fund manager choose: primary research or secondary research?
• How should SRI research be financed? By whom?

OBJECTIVES OF THE SESSION

• Present an overview of main achievements, actions, leadership changes, benefits and future trends in SRI research
• Promote networking between the main players
• Encourage research and management institutes to work on this subject

TARGET GROUPS

• Funds managers and institutional investors
• Multinational and other companies (
• National and international institutions
• Universities, management schools and research institutes
• National and international press.

Moderator François Perrin, SRI Analyst, Lombard Odier Darier Hentsch & Cie, Geneva, Switzerland

Introduction

Internationally applied rating systems for the evaluation of CSR results of an explorative study
Henry Schäfer, Institute of Business Management, Corporate Finance, University of Stuttgart, Germany

Investment decision and sustainability issues, corporate perspective of SRI research
Nicolas Piau, Social Relations Department, SUEZ, Paris, France

Brokerage and SRI research
Valery Lucas Leclin, Head of SRI Research, CM CIC Securities, Paris, France

Investor expectations on SRI research
Jean Laville, Ethos Fund, Geneva, Switzerland

Future challenges of SRI-research related to new business models of companies in developing countries
Cécile Churet, World Business Council for Sustainable Development, Geneva, Switzerland

Questions / answers


Information: www.smia.info et
Organising Committee: Hubert Klun: Phone. +41 21 646 59 80, E-mail: hklun@(ch)smia.info