-Bonds/June-2018/Social- Bond-Principles---June-2018-140618-WEB.pdf 4 ASEAN SOCIAL BOND STANDARDS 2018 Key additional features of the ASEAN SBS The ASEAN SBS are aligned and guided by the four core

of fixed effects may influence the results. I therefore add industry fixed effects. 16 Third, unlike Barth et al. (1999), I cluster standard errors by firm and year in order to mitigate the effects of

according to a client’s order which is not guided or solicited by the securities underwriter (unsolicited purchase or sale); (3) purchase or sale for its own proprietary portfolio resulted from an error in

) purchase from securities offeror or sale to investor under securities underwriting agreement; (2) purchase or sale according to a client’s order which is not guided or solicited by the securities underwriter

securities underwriting agreement; (2) purchase or sale according to a client’s order which is not guided or solicited by the securities underwriter (unsolicited purchase or sale); (3) purchase or sale for its

) a purchase or sale according to a client’s order which is not guided or solicited by the securities underwriter (unsolicited purchase or sale); (3) a purchase for its own proprietary portfolio

guided or solicited by the securities underwriter (unsolicited purchase or sale); (3) a purchase for its own proprietary portfolio resulted from an error in making trading orders for clients; (4) a

Telefónica and the UK’s largest Mobile Virtual Network Operator; and dunnhumby, a wholly owned data science subsidiary. The business is guided by our purpose to serve shoppers a little better every day

and communities, help restore natural resources rather than exploit them, and enable nature to regenerate and replenish itself. CHANEL’s vision of how it seeks to operate in society is guided by two

SLBS The ASEAN SLBS are aligned and guided by the five core components of the SLBP, i.e. selection of KPIs, calibration of SPTs, bond characteristics, reporting, and verification. Key additional features