MSCI ESG Ratings

MSCI ESG Rating
MSCI的ESG評比

A large and increasing number of the world's investors are integrating environmental social and governance or ESG to understand risks and opportunities.
大量提升的全球投資方都正在運用環境、社會與公司治理又稱為ESG來了解風險與機會

Can you spot the difference in the financials of these two companies. 
你可以看出這兩家公司在財務上有什麼差別嗎?

They seem identical but an ESG lens can help investors identify risks not picked up by conventional financial analysis.
它們看起來完全相同，但是透過ESG可以幫助投資者發現傳統財務分析所遺漏的風險

Risks that could impact financial performance because of operational costs or costs of litigation.
那些風險有可能影響到財務績效因為自家營業成本或是訴訟費

Different ESG risks can impact different industries.
不同的ESG風險對不同產業帶來不一樣的影響

However corporate governance due to its universal importance is examined for all industries. 
儘管如此，對於公司治理的普遍重要性因此所有產業都會受到審查

ESG ratings focuses in on what's significant to a company's bottom line and comparable with its peer group.
ESG 評比著重於影響一家公司盈虧的重大因素並與同行比對

So what are significant ESG risks? 
所以什麼算重大的ESG風險?

Here's an example.
舉例來說

Water is important to everyone but it only poses a significant risk to certain industries.
水份對於每個人都很重要，但是它只會對某些產業造成嚴重風險

Water could determine whether a mining company remains profitable or even afloat.
水本身可以決定一家採礦公司的盈虧或是擁有足夠的周轉資金

But it's less important to the consumer finance industry.
但對於消費金融產業來說就沒那麼重要

So water risk would not determine their MSCI ESG rating, but cybersecurity may.
所以水風險不會影響它們的MSCI ESG評比，但是網絡安全就有可能

We look at the company's exposure to industry specific risks based on its business activities, size of its operations and where it operates.
我們依據商業活動、活動規模以及活動地點來評閱公司所接觸到的產業特殊風險

Then we look at how a company is managing their risks. 
然後我們去檢查公司的風險管理策略

It's a balancing act.
維持兩邊平衡

Companies that fail to manage ESG risks have historically experienced higher costs of capital.
根據以往的經歷，無法控管ESG 風險的公司通常需要較高的資本成本

More volatility and accounting irregularities.
更多波動性以及會計違規操作

How do we collect the data.
我們如何蒐集數據

MSCI ESG ratings is not about hammering companies for all of their data.
MSCI ESG評比不在於強迫公司提供訊息

Nor is it about asking for their opinion.
也不是在詢問他們的意見

We collect the most relevant publicly available data and use a precision approach designed to ensure that MSCI ESG ratings pinpoints the most significant risks a company faces.
我們在網路公開處蒐集最有關聯的資訊並且使用專門設計的精確方式來確保MSCI ESG評比能準確指出公司所面臨的巨大風險

We collect data from thousands of sources.
我們的數據來自成千上萬個出處

We also consider controversies, that may indicate performance failures.
我們也會考量造成公司表現不佳的爭議點

How do we calculate the MSCI ESG rating.
我們如何計算 MSCI ESG評比

We assign percentage weights to each ESG risk according to our assessment of their time horizon and impact. 
我們依據投資期限和影響來評估每個ESG風險所佔的比例

The ESG scores are then combined and normalized relative to industry peers to achieve
the overall ESG rating. 
將ESG得分加總後並標準化並對比於同業所達到的整體ESG評比

So what does a poor ESG rating look like. 
所以糟糕的ESG評分看起來如何

For example, a mining company that fails to manage ESG risks may
假設，一家無法控管ESG風險的採礦公司可能

One, miss manage water resources waste and emissions. 
第一，無法有效地管理水、資源、廢棄物和排放量

Two demonstrate severe lapses and safety.
第二，顯示嚴重安全失策

And three have a self-serving board with evidence of corruption. 
再來，握有證據顯示董事會受到貪汙腐敗

ESG ratings helps investors identify companies that are leading or lagging within their industry which may flag opportunities or risks not captured by conventional financial
analysis.
ESG評分可以幫助投資方辨別目前公司正超前還是落後該產業，同時標註傳統財務分析報告所遺漏的機會或風險

Investors can use ESG ratings for, fundamental or quant analysis. 
投資方可以使用ESG評比來做基本面分析或是數量分析

Portfolio construction and risk management, engagement and thought leadership.
投資組合建構、風險管理以及思想領袖

And benchmarking and for index based products 
幫助指數產品設立標桿
 
To find out more about MSCI ESG research and ESG ratings.
想知道更多有關MSCI ESG研究和評比

Visit our website
請上我們的官網

Copyright Announcement: The above videos are  from the official Youtube channel of the organization. MSCI ESG Ratings https://www.youtube.com/user/MSCIChannel . The videos we selected are all publicly available on the official channel, and we do not own the copyright of these videos. Our work on Chinese translation for this film is free for the 1.2 billion audiences in Mandarin Chinese around the world to watch and learn SDGs and SROI advertising campaigns.