computed using the Newey-West produced with one-month lag. 𝑟𝑖𝑡 𝑒 = 𝛼𝑖 + 𝛽𝑖 𝑀𝐾𝑇𝑀𝐾𝑇𝑅𝐹𝑡 + 𝛽𝑖 𝑆𝑀𝐵𝑆𝑀𝐵𝑡 + 𝛽𝑖 𝐻𝑀𝐿𝐻𝑀𝐿𝑡 + 𝛽𝑖 𝑈𝑀𝐷𝑈𝑀𝐷𝑡 + 𝜀𝑖𝑡 (2) The average alpha is also

, putting_sustainability_to_the_test_whitepaper_edition_vol_28.pdf (eumultisiteprod-live- b03cec4375574452b61bdc4e94e331e7-16cd684.s3-eu-west-1.amazonaws.com), 24 Dec 2020 3. Fiduciary Duty 21, Fiduciary Duty in the 21st Century, Fiduciary Duty - Fiduciary Duty

portfolio with market leadership in the West. We take this opportunity to highlight a distinctive aspect of IVL’s business model. Almost half of IVL’s commodity portfolio has the benefit of shale gas

project which will be located in the Taiwan Strait approximately 8 km west of coast of Yunlin Country in Taiwan. Yunneng has entered into power purchase agreement with Taiwan Power Company (Taipower

operations of the Salak and Darajat geothermal fields in West Java, Indonesia, with the aggregate capacity of 235 MW equivalent of steam and 413 MW of elelctricity. The project has secured the long-term Energy

South America, due to US refineries reactivating after having been affected by Hurricane Harvey. As well as, Diesel supplies from Asia could not be sent the west, due to high reserves level in Europe from

was the export arbitrage of Jet/Kerosene fuel from Asia to the West, in order to accommodate increased air travel during the summer.  Gasoil and Dubai crack spread (GO/DB) in Q2/2019 averaged at 12.37

for Gasoline from the west as a consequence of the fire incident and closure of the Philadelphia Energy Solutions refinery in late June 2019, combined with anxiety over major shortage after the attack

also appreciate helpful comments received from Ole-Kristian Hope, Sonia Konstantinidi, Peter Pope, and seminar participants at the University of Exeter and the University of the West of England. 2 1

E_1 Legal_FA_2015_12_29-c A WCorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2018 In 2018, the overall Thai economy maintained its growth due largely to healthier growth of exports and tourism, especially in the first half of the year. Meanwhile, the government continued to implement measures to promote and strengthen the domestic economy through support of investment and private spending as well as bolstering opportunities for other econo...