CA Cheuvreux receives the Farsight Award 2012/13 for their outstanding report “Luxury Goods: Sustainability Sector Profile”

London, 19 March 2013

This evening, the Farsight Award 2012/13 was presented to Stephane Voisin and his Sustainability Research & ESG team at CA Cheuvreux during the Sustainable City Awards ceremony at Mansion House.

The Farsight Award honours the best individual piece of analysis by an investment research institution that integrates traditional financial analysis with longer-term environmental social and governance (ESG) issues such as climate change, resource scarcity, corporate governance and human capital. The award rewards excellence and innovation in financial research integrating ESG aspects. The Farsight Award is one of 12 award categories in the Sustainable City Awards organised by the City of London.

The judges convened in January 2013 to discuss 95 investment research reports. They were extremely pleased by the high quality of the research submitted and by the wide range of ESG issues explored. After a robust discussion, the judges reached the following decision:
Winner of The Farsight Award 2012/13: CA Cheuvreux for their report “Luxury Goods: Sustainability Sector Profile”

“Luxury Goods: Sustainability Sector Profile” (March 2012) finds that the Luxury Goods sector’s endorsement of sustainability is mainly triggered by reputational risk mitigation. The report explores how 130 major brands are managing the challenge of controlling reputational risk while seeking to meet growing demand. In particular, it analyses the implications and potential risks presented by key ESG issues such as raw materials, brand stretching, subcontracting, purchasing and producing in Asia.

The judges found that CA Cheuvreux winning report addressed an original topic and provided a useful analysis. Pierre Stiennon, one of the judges, said: “The Cheuvreux luxury report is innovative in that it sheds light on a number of specific sustainability issues that have generally been left in the dark so far. The report is compact in size, wide in the topics addressed and it is specific in assessing stock implications. It is a good example of a well-integrated report where one sector falls under the microscope of a sell side research team. The report will be of interest to long-term investors as well as to those who want to learn more about the sustainability drivers in the luxury sector.”
CA Cheuvreux wins the Farsight Award for the second time, after winning with their report “Utilities vs Carbon: Phase II” in 2008. CA Cheuvreux receives a trophy and will also be given a lecture opportunity with Gresham College as well as receiving recognition from the Long Finance and London Accord communities – http://www.longfinance.net/programmes/london-accord.html
The judging panel decided to commend highly two additional reports:
Bank of America Merrill Lynch for their report “Less Is More: Global Energy Efficiency”
Deutsche Bank for their report “Foreign Investment In Farmland: No Low-Hanging Fruit”

The criteria for the Farsight Award are originality; quality; readability and clarity; sophistication and depth; and financial usefulness. This year, the judges evaluated 95 reports exploring a range of topics including climate change, water, energy and energy efficiency, environmental regulation and policy, education, healthcare, demographics, SRI, microfinance and impact investing. These reports are all accessible free of charge on the London Accord section of the Long Finance website - http://www.longfinance.net/programmes/london-accord.html
Four other reports were also shortlisted out of the 95:
Bank of America Merrill Lynch – “The Global Water Sector”
CA Cheuvreux – “Bribery & Corruption”
Deutsche Bank – “LT Asset Return Study: A Journey Into The Unknown”
HSBC – “No Water, No Power: Is There Enough Water To Fuel China’s Power Expansion?”

The judging panel for the Farsight Award 2012/13 comprised: The judging panel for the Farsight Award 2012/13 comprised:
Alice Chapple, Director, ImpactValue;
Professor Gwen Griffith-Dickson, Director, The Lokahi Foundation;
Jan-Peter Onstwedder, Managing Director, Risk Management, Institutional Clients Group, Citi;
Melissa Brown, Partner, Daobridge Capital Limited;
Pierre Stiennon, Senior Financial Analyst - Responsible Investment, AXA Investment Managers;
Ouafaa Karim, Director, Responsible Investment Association Australasia;
Simon Mills, Principal Policy Officer for Sustainable Development, City of London Corporation;
Professor Michael Mainelli, Executive Chairman of Z/Yen Group Limited, who also chaired the panel of judges.

Professor Michael Mainelli said: “Long Finance and the London Accord are impressed with the way the investment research community continues to develop environmental, social and governance issues in both breadth and depth. We hope the financial community’s 2013 viewpoint, contained in nearly 100 high quality reports

About Kepler Cheuvreux

Kepler Cheuvreux is a leading independent European financial services company specialised in advisory services and intermediation. The company has four business lines: Equities, Debt & Derivatives, Investment Solutions and Corporate Finance. Headquartered in Paris, the group employs around 500 staff. This multi-local company is also present in Amsterdam, Boston, Frankfurt, Geneva, London, Madrid, Milan, New York, San Francisco, Stockholm, Vienna and Zurich.


For further details, please go to: www.keplercheuvreux.com


About Crédit Agricole Corporate and Investment Bank

Crédit Agricole CIB is the Corporate and Investment Banking arm of the Crédit Agricole Group, the world’s sixth largest bank by total assets (The Banker, July 2012).

Crédit Agricole CIB offers its clients a comprehensive range of products and services in capital markets, investment banking, structured finance and corporate banking.

The Corporate and Investment Bank is structured around four major divisions:

  • Client Coverage & International Network and Global Investment Banking
  • Structured Finance
  • Global Markets Division
  • Debt Optimisation & Distribution

The Bank provides support to clients in large international markets through its network with a presence in major countries in Europe, America, Asia and the Middle East.

For more information, please visit its website at www.ca-cib.com

About UniCredit

UniCredit is one of Europe's leading commercial bank with strong roots in 22 European countries. Our network, which is present in roughly 50 markets, includes about 9,400 branches and more than 157,000 employees as of 30 September 2012.

In the CEE region, UniCredit operates the largest international banking network with nearly 3,800 branches.

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