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Ba Chelor Thesis Bachelor Programme in Energy and Business Administration, 180 credits BACHELOR BACHELOR Responsible Investment in Asia and the Pacific Ocean A study on fund companies portfolio selections THESIS Emma Stenberg, Elin Östling Bachelor Thesis in Business, 15 credits Varberg 2016-05-26 ! Acknowledgements! We would like to start by thanking our supervisor Urban Österlund and opponents that have been great supporters and critics that enabled big improvements of this study. We would also like to give a huge thank to our respondents that took their time and shared significant information to make this study possible. We are proud to present this study and hope that it will bring more awareness to investors’ demands of SRI factors in the Asia and Pacific Ocean. Varberg May 2016 Emma Stenberg Elin Östling Table1of1Contents11 Acknowledgements ................................................................................................................... 1! Abstract ..................................................................................................................................... 4! Key terms: ................................................................................................................................. 5! 1. Introduction .......................................................................................................................... 6! 1.1!Problem!discussion!and!problem!research!questions!...........................................................!7! 1.2!Purpose!and!delimitations!..............................................................................................................!8! 1.3!Research!Approach!............................................................................................................................!9! 1.4!Frame!of!Reference!Configuration!................................................................................................!9! 1.5!Disposition!.........................................................................................................................................!10! 2. Frame of Reference ............................................................................................................ 11! 2.1!Funds!...................................................................................................................................................!11! 2.1.1!Fund!Companies!..........................................................................................................................................!11! 2.2!Asia!and!Pacific!Ocean!Economy!................................................................................................!12! 2.2.1!Asia!and!Pacific!Ocean!Funds!................................................................................................................!13! 2.3!SRI!definition!and!processes!........................................................................................................!14! 2.3.1!SRI!.....................................................................................................................................................................!14! 2.3.2!ESG!....................................................................................................................................................................!15! 2.4!Organisations!for!SRI!application!..............................................................................................!16! 2.4.1!OECD!................................................................................................................................................................!16! 2.4.2!GRI!.....................................................................................................................................................................!16! 2.4.3!PRI!.....................................................................................................................................................................!16! 2.4.4!SWESIF!............................................................................................................................................................!17! 2.5!Guidelines!for!SRI!Application!....................................................................................................!18! 2.5.1!UN!Global!Compact!....................................................................................................................................!18! 2.5.2!Hållbarhetsprofilen!....................................................................................................................................!19! 2.6!Methods!for!SRI!Application!........................................................................................................!19! 2.6.1!Screening!........................................................................................................................................................!19! 2.6.2!Carbon!Footprint!in!Fund!Portfolios!..................................................................................................!20! 2.7!Morningstar!Sustainability!Rating!.............................................................................................!21! 2.8!Frame!of!Reference!Resume!........................................................................................................!22! 3. Method ................................................................................................................................. 23! 3.1!Research!strategy!............................................................................................................................!23! 3.2!Empirical!Framework!Configuration!........................................................................................!23! 3.3!Interviews!..........................................................................................................................................!25! 3.4!Configuration!of!Interview!Form!...............................................................................................!26! 3.5!Validity!and!Reliability!..................................................................................................................!26! 4. Empirical Framework ........................................................................................................ 28! 4.1!Interview!basis!.................................................................................................................................!28! 4.2!Interview!respondents!..................................................................................................................!30! 4.3!Historical!development!.................................................................................................................!31! 4.4!Short!description!of!the!Equity!Funds!......................................................................................!31! 4.5!Interview!results!..............................................................................................................................!33! 4.5.1!Adaption!to!SRI!applications!.................................................................................................................!33! 4.5.2!Methods!for!SRI!...........................................................................................................................................!35! 4.5.3!SRI!in!Asia!and!Pacific!Ocean!Region!.................................................................................................!37! 5. Analysis ............................................................................................................................... 42! 5.1!Adaption!to!SRI!Applications!.......................................................................................................!42! 5.2!Methods!for!SRI!Applications!......................................................................................................!44! ! 2! 5.3!SRI!in!Asia!&!Pacific!Ocean!region!.............................................................................................!45! 6. Conclusion & Discussion ................................................................................................... 48! 6.1!Conclusion!..........................................................................................................................................!48! 6.2!Discussion!..........................................................................................................................................!49! 6.3!Suggestions!for!Further!Research!..............................................................................................!50! 7. Sources ................................................................................................................................. 51! Table1of1Contents1over1Figures1and1Tables1 Figure 1. Sustainable investment in different regions between 2012 and 2014 ........................ 7 Figure 2. Disposition ............................................................................................................... 10 Figure 3. Structure for the relationship between fund companies, investors and portfolios ... 12 Figure 4. Responsible and sustainable investment is usually referred to as ESG ................... 15 Table 1. PRI Six Principles ...................................................................................................... 17 Table 2. Short description of SRI applications .......................................................................
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