conflicts of interest and prioritise advancing the best interest of clients. Principle 3: Make informed investment decisions and engage in active ongoing monitoring of investee companies. Principle 4: Apply

our role and fiduciary responsibilities: Principle 1: Adopt a clear written Investment Governance Policy. Principle 2: Properly prevent and manage conflicts of interest and prioritise advancing the best

fiduciary responsibilities: 1. Adopt a clear written Investment Governance Policy 2. Properly prevent and manage conflicts of interest and prioritize advancing the best interest of clients. 3. Make informed

projects) as well as the ASEAN SBS (i.e. projects which involve activities that pose a negative social impact related to alcohol, gambling, tobacco and weaponry).

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 ...........................................................

a negative social impact related to alcohol, gambling, tobacco and weaponry are excluded CASE STUDIES 9 ICBC’s first green bond ▪ Industrial and Commercial Bank of China (ICBC), the largest bank in

, cardboard and specialty fibers (e.g., viscose). It also includes timber products used for biomass. - Tobacco: This includes all products derived from tobacco plants, including smoking tobacco, smokeless

independently and without bias, advancing beneficiary or client interests as their primary obligation. 1.3 Capacity and effective management Institutional investors should be led by boards and staff with the

activities that pose a negative social impact related to alcohol, gambling, tobacco and weaponry are excluded from the ASEAN SBS. Issuers are also encouraged to develop a list of additional ineligible projects

Prioritise Advancing the Best Interest of Clients 40 Principle 3 Make Informed Investment Decisions and Engage in Active Ongoing Monitoring of Investee Companies 42 Principle 4 Apply Enhanced Monitoring of and