Sustainable Investment in China 1
About me • Studied Business – but no interest in finance • In China for 8 years – started in NGOs • Now working at BSR and leading our work on sustainable investment in China • Co-Authored Sustainable Investment in China 2009 for IFC • A variety of projects across industries and Sustainability/CSR issues • Also involved in philanthropy/social entrepreneurship/impact investment 2
BSR’s Mission and Strategy Our mission: We work with business to create a just and sustainable world. Our strategy: We develop sustainable business strategies and solutions through consulting, research, and cross-sector collaboration with our global network of nearly 300 member companies. Our presence: 117 staff in 8 offices across and south America, Europe and Asia. • Insights gained from our research and collaborative partnerships feed our consulting work. • Our real-world experience working closely with member companies informs our research. • Our cross-sector efforts build on our extensive network of members and stakeholders. Research Consulting Services north Membership Network Cross. Sector Collaborati on & Partnership Developme nt 3
China Peculiarities • Major Environmental, Social and Governance Issues for the country. • Heavy Government hand over the country including the financial markets limiting IPOs, regulations etc • Limited Pension fund/institutional investors—much of stock market is individual investors investing on their own or through mutual funds. • Restrictions on foreign investors, SSF and others. • Very large PE and cleantech sector—still heavily influenced by government/policy. 4
Investment Supply Chain Voluntary principles & learning network Pension funds Insurance company reserve funds Stock ownership services e. g. proxy voting Mutual funds Endowments & foundations High Net Worth Individuals Asset Managers Buy-side research Independent research Sell-analysts (broker/dealers) Rating agencies & sustainable indexes Financial market regulators Securities exchanges Alternatives (Private equity, real estate, etc. ) Listed equities COMPANIES 5
Investment Supply Chain Mapping China Reinsurance Civil Society Industrial Fund NSSF Pension funds CCB-Principal Insurance company reserve funds Mutual funds QFIIs STB Stock ownership services e. g. proxy voting Asset Managers Buy-side research Independent research Sell-analysts (broker/dealers) Financial market regulators Tsing Capital Securities exchanges Alternatives (PE) Listed equities Norwegian Pension Fund Rating agencies SSESRI Green IPO Policy & CSR Reporting COMPANIES 6
Key Findings • Sustainable Investment (SI) is a nascent market in China. – SI is still a niche rather than mainstream strategy – SI supply chain is still developing, and the market currently remains undeveloped • Chinese SI approach primarily focuses on governance and compliance. • The current SI development are early signs of a growing market in China. 7
Thank you! • • • Sustainable Investment in China Newsletter online covering disclosure, media, engagement, ESG challenges, conflict minerals, foundations’ investing, investor activism, water and more Sustainable Investment in China 2009 report online Comments are welcome at alane@bsr. org. 8
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