duties and liabilities on “shadow” board members as a way to discourage their existence.  Sanctions for violations of directors‟ duties should be sufficiently severe and likely to deter wrongdoing

risk, corruption risk, severe epidemic risk, etc.; 2.2.2 Investment risk imposed on the securities holders. Identify and clarify the risks of losing returns or rights or investment money, in whole or in

corporate governance. For example, climate change risk, biohygienic and safety risk, disputes with the community risk, corruption risk, severe epidemic risk, etc.; 2.2.2 Investment risk imposed on the

in 2000-07, strong by international standards, but somewhat below its growth rate in previous decades and that of other ASEAN members. The global economic crisis led to a sharp slowdown, with a 2.3

severe flooding or heavy monsoon rains also deals a serious blow to households’ properties and quality of life. These extreme events would inevitably hurt demand for financial services as well as borrowers

Investor Strategies for Incorporating ESG Considerations into Corporate Interactions www.blackrock.com www.ceres.org Century21st Engagement Investor Strategies for Incorporating ESG Considerations into Corporate Interactions [ 5 ] FOREWORD The Value of Our Voice ......................................................................................................................................... 1 How ESG Megatrends Are Shaping Valuation ...........................................................