different approaches to governance practices. National codes reflect local standards and explanation is encouraged where there is divergence from the Principles against this framework. Members of the ICGN

as integrated a manner as possible. Divergence of Materiality Approaches: Financial materiality, Double materiality, Multi-stakeholder interpretation of materiality, or Dynamic materiality. https

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