The Experts below are selected from a list of 65199 Experts worldwide ranked by ideXlab platform
Tobias Hahn - One of the best experts on this subject based on the ideXlab platform.
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Net Present Sustainable Value: A Value-Based Approach to Sustainable Investment Appraisal
2013Co-Authors: Andrea Liesen, Frank Figge, Tobias HahnAbstract:The concept of ‘net present Sustainable value’ is introduced as a new strategic tool for Sustainable Investment appraisal, which extends the traditional net present value approach to include resources other than capital. The proposed approach examines if the present value of the future returns which can be anticipated from using environmental and social resources are in line with a company’s strategic targets. The application of the new tool is described in detail and illustrated through various practical examples.
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net present Sustainable value a new approach to Sustainable Investment appraisal
Strategic Change, 2013Co-Authors: Andrea Liesen, Frank Figge, Tobias HahnAbstract:Net present Sustainable value is introduced here as a new strategic tool for managerial decision-making in the context of Sustainable Investment appraisal.
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Sustainable Investment analysis with the Sustainable value approach a plea and a methodology to overcome the instrumental bias in socially responsible Investment research
Progress in Industrial Ecology An International Journal, 2008Co-Authors: Frank Figge, Tobias HahnAbstract:The increased demand for Sustainable Investments has resulted in an increased interest in Sustainable Investment analysis. Existing Sustainable Investment analysis assesses environmental and social performance in isolation and/or subordinates environmental and social performance under economic performance. Neither is in-line with the demands of Sustainable development. This article shows how the Sustainable value approach can be used for Sustainable Investment analysis. Sustainable value is the first value-oriented sustainability assessment. In contrast to existing approaches it is fully integrated and it does not subordinate environmental and social aspects under economic aspects. Using the example of Danone we demonstrate the applicability of the Sustainable value approach for Sustainable Investment analysis.
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Sustainable Investment analysis with the Sustainable value approach ? a plea and a methodology to overcome the instrumental bias in socially responsible Investment research
Progress in Industrial Ecology An International Journal, 2008Co-Authors: Frank Figge, Tobias HahnAbstract:The increased demand for Sustainable Investments has resulted in an increased interest in Sustainable Investment analysis. Existing Sustainable Investment analysis assesses environmental and social performance in isolation and/or subordinates environmental and social performance under economic performance. Neither is in-line with the demands of Sustainable development. This article shows how the Sustainable value approach can be used for Sustainable Investment analysis. Sustainable value is the first value-oriented sustainability assessment. In contrast to existing approaches it is fully integrated and it does not subordinate environmental and social aspects under economic aspects. Using the example of Danone we demonstrate the applicability of the Sustainable value approach for Sustainable Investment analysis.
Roland W. Scholz - One of the best experts on this subject based on the ideXlab platform.
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Environmental Impacts of Conventional and Sustainable Investment Funds Compared Using Input‐Output Life‐Cycle Assessment
Journal of Industrial Ecology, 2008Co-Authors: Thomas Koellner, Sangwon Suh, Olaf Weber, Corinne Moser, Roland W. ScholzAbstract:This study compares equity funds that are managed according to sustainability goals with conventionally managed funds with respect to their environmental impacts. Overlap in the portfolios of Sustainable equity funds and conventional equity funds can be very large. Further, the sector allocation of both types of funds is generally very similar, because portfolio managers follow a chosen benchmark to minimize risk. These two effects may result in no difference existing between the two types of funds in terms of their environmental impact and damage (null hypothesis of this research). This study comparatively assesses the environmental impact of portfolios of 26 Investment funds: 13 Sustainable Investment funds and 13 conventional funds, which are managed according to the benchmark MSCI World. The study applies input-output life-cycle assessment (IO-LCA) in combination with a simulation of company-specific environmental performance. The environmental impact is evaluated per functional unit for each fund, measured as the risk-adjusted financial performance. The statistical analysis showed that the analyzed Sustainable Investment funds performed better with respect to environmental impact assessment but worse in economic risk-adjusted performance (RAP) over the period 2000-2004. In 2004, however, the RAP of the selected Sustainable Investment funds showed better performance. Both samples considerably overlap for the environmental and economic parameters. The results suggest that the environmental impact of Sustainable Investment funds in the sample is slightly less than that of conventional funds.
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environmental impacts of conventional and Sustainable Investment funds compared using input output life cycle assessment
Journal of Industrial Ecology, 2008Co-Authors: Thomas Koellner, Sangwon Suh, Olaf Weber, Corinne Moser, Roland W. ScholzAbstract:This study compares equity funds that are managed according to sustainability goals with conventionally managed funds with respect to their environmental impacts. Overlap in the portfolios of Sustainable equity funds and conventional equity funds can be very large. Further, the sector allocation of both types of funds is generally very similar, because portfolio managers follow a chosen benchmark to minimize risk. These two effects may result in no difference existing between the two types of funds in terms of their environmental impact and damage (null hypothesis of this research). This study comparatively assesses the environmental impact of portfolios of 26 Investment funds: 13 Sustainable Investment funds and 13 conventional funds, which are managed according to the benchmark MSCI World. The study applies input-output life-cycle assessment (IO-LCA) in combination with a simulation of company-specific environmental performance. The environmental impact is evaluated per functional unit for each fund, measured as the risk-adjusted financial performance. The statistical analysis showed that the analyzed Sustainable Investment funds performed better with respect to environmental impact assessment but worse in economic risk-adjusted performance (RAP) over the period 2000-2004. In 2004, however, the RAP of the selected Sustainable Investment funds showed better performance. Both samples considerably overlap for the environmental and economic parameters. The results suggest that the environmental impact of Sustainable Investment funds in the sample is slightly less than that of conventional funds.
Frank Figge - One of the best experts on this subject based on the ideXlab platform.
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Net Present Sustainable Value: A Value-Based Approach to Sustainable Investment Appraisal
2013Co-Authors: Andrea Liesen, Frank Figge, Tobias HahnAbstract:The concept of ‘net present Sustainable value’ is introduced as a new strategic tool for Sustainable Investment appraisal, which extends the traditional net present value approach to include resources other than capital. The proposed approach examines if the present value of the future returns which can be anticipated from using environmental and social resources are in line with a company’s strategic targets. The application of the new tool is described in detail and illustrated through various practical examples.
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net present Sustainable value a new approach to Sustainable Investment appraisal
Strategic Change, 2013Co-Authors: Andrea Liesen, Frank Figge, Tobias HahnAbstract:Net present Sustainable value is introduced here as a new strategic tool for managerial decision-making in the context of Sustainable Investment appraisal.
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Sustainable Investment analysis with the Sustainable value approach a plea and a methodology to overcome the instrumental bias in socially responsible Investment research
Progress in Industrial Ecology An International Journal, 2008Co-Authors: Frank Figge, Tobias HahnAbstract:The increased demand for Sustainable Investments has resulted in an increased interest in Sustainable Investment analysis. Existing Sustainable Investment analysis assesses environmental and social performance in isolation and/or subordinates environmental and social performance under economic performance. Neither is in-line with the demands of Sustainable development. This article shows how the Sustainable value approach can be used for Sustainable Investment analysis. Sustainable value is the first value-oriented sustainability assessment. In contrast to existing approaches it is fully integrated and it does not subordinate environmental and social aspects under economic aspects. Using the example of Danone we demonstrate the applicability of the Sustainable value approach for Sustainable Investment analysis.
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Sustainable Investment analysis with the Sustainable value approach ? a plea and a methodology to overcome the instrumental bias in socially responsible Investment research
Progress in Industrial Ecology An International Journal, 2008Co-Authors: Frank Figge, Tobias HahnAbstract:The increased demand for Sustainable Investments has resulted in an increased interest in Sustainable Investment analysis. Existing Sustainable Investment analysis assesses environmental and social performance in isolation and/or subordinates environmental and social performance under economic performance. Neither is in-line with the demands of Sustainable development. This article shows how the Sustainable value approach can be used for Sustainable Investment analysis. Sustainable value is the first value-oriented sustainability assessment. In contrast to existing approaches it is fully integrated and it does not subordinate environmental and social aspects under economic aspects. Using the example of Danone we demonstrate the applicability of the Sustainable value approach for Sustainable Investment analysis.
Thomas Koellner - One of the best experts on this subject based on the ideXlab platform.
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Environmental Impacts of Conventional and Sustainable Investment Funds Compared Using Input‐Output Life‐Cycle Assessment
Journal of Industrial Ecology, 2008Co-Authors: Thomas Koellner, Sangwon Suh, Olaf Weber, Corinne Moser, Roland W. ScholzAbstract:This study compares equity funds that are managed according to sustainability goals with conventionally managed funds with respect to their environmental impacts. Overlap in the portfolios of Sustainable equity funds and conventional equity funds can be very large. Further, the sector allocation of both types of funds is generally very similar, because portfolio managers follow a chosen benchmark to minimize risk. These two effects may result in no difference existing between the two types of funds in terms of their environmental impact and damage (null hypothesis of this research). This study comparatively assesses the environmental impact of portfolios of 26 Investment funds: 13 Sustainable Investment funds and 13 conventional funds, which are managed according to the benchmark MSCI World. The study applies input-output life-cycle assessment (IO-LCA) in combination with a simulation of company-specific environmental performance. The environmental impact is evaluated per functional unit for each fund, measured as the risk-adjusted financial performance. The statistical analysis showed that the analyzed Sustainable Investment funds performed better with respect to environmental impact assessment but worse in economic risk-adjusted performance (RAP) over the period 2000-2004. In 2004, however, the RAP of the selected Sustainable Investment funds showed better performance. Both samples considerably overlap for the environmental and economic parameters. The results suggest that the environmental impact of Sustainable Investment funds in the sample is slightly less than that of conventional funds.
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environmental impacts of conventional and Sustainable Investment funds compared using input output life cycle assessment
Journal of Industrial Ecology, 2008Co-Authors: Thomas Koellner, Sangwon Suh, Olaf Weber, Corinne Moser, Roland W. ScholzAbstract:This study compares equity funds that are managed according to sustainability goals with conventionally managed funds with respect to their environmental impacts. Overlap in the portfolios of Sustainable equity funds and conventional equity funds can be very large. Further, the sector allocation of both types of funds is generally very similar, because portfolio managers follow a chosen benchmark to minimize risk. These two effects may result in no difference existing between the two types of funds in terms of their environmental impact and damage (null hypothesis of this research). This study comparatively assesses the environmental impact of portfolios of 26 Investment funds: 13 Sustainable Investment funds and 13 conventional funds, which are managed according to the benchmark MSCI World. The study applies input-output life-cycle assessment (IO-LCA) in combination with a simulation of company-specific environmental performance. The environmental impact is evaluated per functional unit for each fund, measured as the risk-adjusted financial performance. The statistical analysis showed that the analyzed Sustainable Investment funds performed better with respect to environmental impact assessment but worse in economic risk-adjusted performance (RAP) over the period 2000-2004. In 2004, however, the RAP of the selected Sustainable Investment funds showed better performance. Both samples considerably overlap for the environmental and economic parameters. The results suggest that the environmental impact of Sustainable Investment funds in the sample is slightly less than that of conventional funds.
Melsa Ararat - One of the best experts on this subject based on the ideXlab platform.
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Sustainable Investment in Turkey: The Case in Context - An Update
SSRN Electronic Journal, 2014Co-Authors: Melsa Ararat, Esra Suel, Burçin B. YurtoğluAbstract:This paper is a sequel to the “Sustainable Investment in Turkey, 2010” report (IFC, 2011). The original report provided a review of the then current state of the Sustainable Investment (SI) in Turkey and analysed the institutional prerequisites and interventions that would encourage better allocation of financial capital to Sustainable firms. This update seeks to study Turkey as a case to analyse SI challenges and prospects in emerging markets with a focus on equity Investments through stock exchanges and sustainability indices.The focus on stock markets is motivated by the emerging emphasis on the role of stock exchanges in promoting SI as articulated in the objectives of the United Nations (UN) Sustainable Stock Exchanges (SSE) Initiative. Although this paper provides an update to the relevant sections of the original report, its ultimate objective is to reflect on Turkey’s experience as a case study to assess the feasibility of sustainability indices in promoting SI in emerging markets.
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The state of Sustainable Investment in key emerging markets : synthesis report
2011Co-Authors: Melsa Ararat, Euan MarshallAbstract:Since 2009 International Finance Corporation (IFC) has produced a series of Sustainable Investment country reports covering major emerging capital markets attracting global portfolio investors: Brazil, India, China, Sub-Saharan Africa, the Middle East and North Africa (MENA), and Turkey. This report provides a snapshot of the findings of these country reports and seeks to identify common themes and trends across and highlight crucial differences among these markets. To support the growth of Sustainable capital flows, IFC Advisory Services team seeks to influence, support, and enable capital allocation and portfolio management processes, using IFC's own Investment practices as a model. IFC is playing its part in supporting the growth of the market by funding the development of enhanced stock market indices and financial instruments and through targeted market research. While this report seeks to capture the findings from the individual reports it does not reflect specific input from the authors themselves. Equally the synthesis and analysis reflects the thoughts of the author of this report not of the individual country reports. The report also consider the supply of financial capital in various classes and forms to listed and privately held firms with a consideration of the Investment's impact on economic and social development or on investors' values.
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Sustainable Investment in Turkey: issue brief
2011Co-Authors: Melsa Ararat, Burçin B. Yurtoğlu, Esra SuelAbstract:IFC launched a series of Sustainable Investment country reports initially covering the largest emerging capital markets attracting global portfolio investors: Brazil, India, and China. Further reports have been added to the series covering Sub-Saharan Africa, the Middle East and North Africa, and Turkey. This Issue Brief 's the summary version of the report, “Sustainable Investment in Turkey,”
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The State of Sustainable Investment in Key Emerging Markets
SSRN Electronic Journal, 2011Co-Authors: Melsa Ararat, Esra SuelAbstract:IFC launched a series of Sustainable Investment country reports covering major emerging capital markets attracting global portfolio investors: Brazil, India, China, Sub-Saharan Africa, the Middle East and North Africa (MENA), and Turkey. “The State of Sustainable Investment in Key Emerging Markets” provides a snapshot of the findings of these country reports and seeks to identify common themes and trends across and highlight crucial differences among these markets.
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Sustainable Investments in Turkey 2010
SSRN Electronic Journal, 2011Co-Authors: Melsa Ararat, Esra Suel, B. Burcin Yurtoglu, Deniz TuraAbstract:The Turkish market is relatively small when compared with Brazil, Russia, India and China (BRIC) countries; Turkey is growing and is the largest emerging market (EM) in the process of accession to the European Union (EU). With prospective EU membership as an anchor and support from the International Monetary Fund (IMF) standby agreement, Turkey has made significant improvements in overcoming macroeconomic instability since 2001. Turkey is now a functioning open market economy with an ongoing democratic consolidation process. With its solid banking system, robust public finances, and strong growth prospects, Turkey has become a market that investors can no longer ignore. The nation still faces structural problems. Low savings rates and a current account deficit contribute to a persistent reliance on external finance. Turkey's economy remains vulnerable to changes in external financing conditions. The main objectives of this report are 1) to understand and provide a review of the current state of the Sustainable Investment (SI) market in Turkey; 2) to identify the drivers and obstacles for Sustainable Investments and assess the commercial feasibility of different approaches and initiatives that may stimulate the SI market in Turkey; and 3) to analyze the institutional prerequisites and interventions that will fuel the development of Investments, which would, in turn, encourage a better allocation of local and international capital to Sustainable enterprises and hence support Sustainable development of the Turkish economy.
