continued to decline according to industry trend and a change in advertisers’ behavior that favored migration to cheaper online media. Thus, CSL Group had restructured YellowPages Business by focusing and

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