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ESG Impact investing

Environnement Social et Gouvernance (ESG).
Je pense que souvent @Sophie nous parle indirectement de ESG investing, mais j'ai récemment écouté un podcast intéressant qui m'a fait réfléchir sur ce sujet.

J'aime la plus part des podcast de Invest-Like-the-Best, mais celui-ci était particulier.


  • 9 Réponses trié par Votes Date
  • Merci! J'ai hâte d'écouter ça! Je n'ai pas l'internet sauf au bureau ces temps-ci, longue histoire. Beaucoup de route à faire bientôt, je vais écouter ça en conduisant dans quelques semaines. 

    Je me suis relue un peu et c'est vrai que je parle souvent d'éléments de ESG investing ou qui s'en rapprochent. Ce n'est pas par pur altruisme, je pense que c'est WIN-WIN, qu'à long terme il y a du profit à faire et que ça diminue le risque. 

    L'année où j'ai acheté mes premières actions c'était Valeant la grosse mode, ils parlaient du prix du titre qui montait à chaque jour dans les nouvelles financières. J'ai jamais été tentée d'en acheter ou de lire leurs États Financiers! 
  • When "Power Vests" Fight Back

    Midtown uniform vest

    Picture, if you will, a millennial man about town. He's wearing a buttoned-up shirt, a pair of chinos, casual loafers, and socks. And the final piece to finish off his outfit is a fleece Patagonia vest with his employer's — probably a financial firm — logo embroidered on it.

    The vest — the Patagonia vest — is the thing. It's such a ubiquitous piece of clothing for men in business and finance that the Instagram account @midtownuniform was created — and it has over 100,000 followers — to make fun of the herds of Brads and Chads roaming the sidewalks, hunting for Starbucks and sweet stocks.

    On a recent episode of our Motley Fool Answers podcast, host Alison Southwick told the tale of the Patagonia vest, purpose-driven decisions, and profitable investing. Read on for the full story — along with a link to tools you can use.

    But why a vest, and why is it everywhere? Well, like with most bad things, we can blame 2008 and millennials. The midtown uniform came into fashion during 2008, when people who worked on Wall Street were suddenly not getting awesome bonuses. Instead, like any other industry that can't pay more money, they tried to satisfy employees in another easy, cheap way by letting them dress down a bit. So the traditional sports coats and wool slacks became vests and chinos.

    And thus the cult of the Patagonia vest was born — but gasp! Oh, no! Bad news for bros everywhere. A few weeks ago, the Wall Street Journalreported, "Patagonia Triggers a Market Panic Over New Rules on Its Power Vests."

    Patagonia, a company known for its environmental responsibility, announced that it won't let companies custom-brand their vests — basically, embroider their logos on them and buy tons of them for their employees — unless the firm is mission driven and prioritizes the planet.

    The Wall Street Journal reports that Patagonia's new rule surfaced when the financial communications firm Vested placed an order for vests with the name of a private equity firm, which was a Vested client. The request was denied, which caught Vested by surprise, and then they complained about it on Twitter. So, yes, a company named Vested was denied vests.

    One certified Patagonia seller said the decision was not meant to leave any bros out in the cold; however, being a mission-driven organization that's nice to the environment means that oil companies, mine operators, and other outfits deemed ecologically damaging are going to have to find another way to stay warm in iffy spring weather.

    Are purpose-driven decisions good for business?

    Let's look back at a purpose-led decision that received a ton of criticism in 2014, when CVS decided to stop selling tobacco products. At the time, tobacco accounted for $2 billion in sales at CVS. It's out of $139 billion, but it's still a decent chunk of change. So they banned tobacco, and what happened?

    Well, a lot for the greater good:

    • Ad Age reported that 40% more influencers saw CVS as a leader in helping to improve overall health after they made the ban.
    • The company was listed as one of the most innovative and admired in various publications.
    • More than 500,000 people visited CVS's Smoking Cessation Hub website, and 26,000 smokers sought advice from its pharmacy on quitting.
    • Cigarette sales dropped by 1% — or 95 million packs — in 13 states in the eight months after they took tobacco off the shelves in the states where CVS had a large amount of market share.

    So what about the "sweet Benjamins" for CVS? What was the impact there?

    While prescription sales continued to rise, general merchandise sales tumbled 8% on a same-store basis after the ban. But the stock actually rose from 2014, peaking in mid-2015. It's been on the decline ever since. That's probably Amazon's fault? I mean, if you can't blame 2008 or millennials, then you have to blame Amazon, right?

    So CVS is kind of a muddy example, considering that a lot of factors affect a company's growth. Then, again, the general research on whether being purpose driven and making purpose-driven decisions has a positive or negative impact on your business is sort of muddy.

    We know that being purpose driven has a few benefits. If your employees find the purpose motivating, they're going to work harder. And if your customers find that purpose motivating, they're going to shop harder.

    Survey says ...

    A 2015 Harvard Business School study of more than 2,300 firms found that companies that commit to and invest in strategic sustainability efforts have higher risk-adjusted stock performance sales growth and margins, and that these sustainability activities drive business value.But there are also studies that say being purpose driven really doesn't have that much of an impact on your financials. George Serafeim, a professor at Harvard Business School who covers ESG investing, said, "Even if you do not believe that ESG factors will improve your performance, I don't see any recent evidence that integrating material information about ESG will hurt performance."

    So, Patagonia, go ahead and decide which bros are worthy enough to don your vest and, more importantly, keep making great in-vest-ments in the business to create the must-have gear for the most purpose-driven business-y people who business in the future.

    How to put your money where your mouth is

    Here at the Fool, John Rotonti and Alyce Lomax are heading up a new initiative focused on ESG investing — which stands for environmental, social, and governance issues.

    So far, they’ve shared a primer on ESG investing as well as their framework for finding great companies — a "compounder checklist" to help you build a strategy to buy ethical companies that can also deliver strong returns. Next, they’re analyzing specific companies to see whether they pass the test — they’ve already put Accenture through the framework, and more companies are coming soon. See for yourself at our new ESG hub:

  • Très intéressant ce podcast GroupePretoria! Je me reconnais dans bien des choses mentionnées. Merci!
  • Elle donne une formation bientôt à Chicago, Katherine Collins. J'irais bien, mais a 2500 USD j'hésite un peu!
  • Je pense que je vais me contenter d'acheter son livre
  • Triste situation à mon avis personnel:

    Je trouve que l’idée d’une version alternative des états financiers avec un coût carbone interne était bonne. Et j’ai toujours pensé qu’il y avait un biais sur les CA en ayant juste des gens financiers, qui ne sont pas représentatifs du monde multi-dimensionnels dans lequel on vit. Je suis une  bibitte étrange qui pense aussi que faire du profit uniquement ce n’est pas une fin en soi...
  • D’accord avec toi. Je suis d’avis que ça prends une balance entre les deux qui sera atteinte quand tous les coûts découlant de l’exploitation des ressources seront facturés partout sur la planète. Les profits sont nécessaires car sans argent on ne peut innover. Toutefois si on engrange des profits en refilant les coûts environnementaux aux autres c’est néfaste pour la société.

    Je suis partisans de l’utilisateur payeur. Si tu achète quelque chose tu dois assumer tout les coûts engendrés par la production de cette chose. 
  • C'est une des raisons pourquoi je me suis tourné vers le stockpicking (Pas la seule bien sûre...). Mon impact est nulle vu la grosseur de mon portefeuille, mais j'essaie le moins possible d'investir dans des compagnies qui polluent la planète. Ce n'est pas toujours facile d'avoir les informations, mais je fais toujours des recherches à ce sujet.

    Je sais qu'il est important pour les entreprises de croître, mais l'impact des entreprises sur la santé de la planète et des droits humains est énorme. Il faudra trouver un équilibre dans tout ça.

    Si l'être humain peut utiliser son intelligence pour innover tout en ne détruisant pas les ressources comme présentement, on va aller dans la bonne direction...
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