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DJSI 2012
Review Results
A cooperation of S&P Dow Jones Indices and SAM
1
Content
• Key Facts
• Assessment 2012
• Overview of global and regional review results
• Additional Resources
2
Key Facts – SAM Indexes
• Cooperation between SAM and S&P Dow Jones Indices for the publication and
licensing of the Dow Jones Sustainability Indexes (DJSI).
• Launched in 1999, the DJSI are the first global indexes tracking the financial
performance of the leading sustainability-driven companies worldwide.
• Broad family of global, regional and country DJSI benchmarks.
• 6 billion USD in DJSI-based investment vehicles including mutual funds,
separate accounts, notes, as well as exchange traded funds (ETF), in 15
countries worldwide.
• Local partnership with Korea Productivity Centre (KPC).
3
Key Facts – Dow Jones Sustainability Indexes (DJSI)
• Integrated assessment of economic, environmental and social criteria with a
strong focus on long-term shareholder value.
• Consistent rules-based methodology, primary research (direct contact to
companies).
• Focus on best-in-class companies. Yearly review and continuous monitoring of
companies.
• Assurance of the assessment process by Deloitte.
Overview
4
Key Facts – DJSI Licensees
as of August 31, 2012
Aegon (NL) Invesco (DE)
Ahorro Corporacion Gestion (ES) JP Morgan Asset Management (UK)
Amundi Asset Management (FR) Lombard Odier Asset Management (CH)
Anima SGR (IT) MEAG Munich Ergo (DE)
Aviva (ES) Metzler Asset Management (DE)
Barclays Capital (UK) SAM Sustainable Asset Management (CH)
BlackRock Asset Management (UK) Seligson & Co Fund Management (FI)
BNP Paribas Asset Management (IT) Sella Gestioni (IT)
BT Financial Group (AU) Shinhan BNP Paribas Asset Management (KR)
Credit Suisse Asset Management (CH) Sparinvest (DK)
Danske Capital, Sampo Bank (FI) State Street Global Advisors (US)
Deutsche Postbank (DE) Storebrand Kapitalforvaltning (NO)
Eurizon Capital (IT) Theodoor Gilissen Bankiers (NL)
Folksam Sak (SE) Transcap Investments (AU)
Generali Investments Italy SpA (IT) Yurie Asset Managment (KR)
Groupama (FR)
5
Assessment 2012 – DJSI Assessment Universe 2012
Number of invited companies
• Total number of invited companies = 3,208
• DJSI World Universe = 2,500
• DJSI Europe Universe = 600
• DJSI North America Universe = 600
• DJSI Asia Pacific = 600
• DJSI Korea = 200
Number of assessed companies
• Total number of companies analyzed = 1,544
• Completed questionnaires = 790
• Completed assessments based exclusively on public information = 754
6
In 2012, for the first time, SAM has opened up part of the reporting criteria for company input in order to be able to assess reporting on materiality analysis as well as links between companies’ sustainability initiatives and their financial performance in a more comprehensive manner. At the same time, the focus on integrated reporting remains, as the questions are looking for reporting both in the Annual Report and in the Sustainability Report.
Specifically, the new questions focus on reporting on frameworks for materiality analysis as well as specific examples relating to sustainability initiatives leading to cost savings and revenue generation for the company.
Social / EnvironmentalReporting
For the 2012 assessment, SAM made a complete review of the criterion ‘Standards for Suppliers’ and based on this review the new criterion ‘Supply Chain Management’ was developed. The rationale for the new criteria is that companies are not only outsourcing production, services and business processes but also corporate responsibilities and reputational risks. This means that the risks and opportunities associated with the supply chain need to be managed carefully. The new framework consists of four major parts: supply chain awareness and risk exposure, risk management, sustainability strategy and opportunities in the supply chain and transparency with regards to supply chain risks and performance.
Supply Chain Management
Criteria Key changes compared to 2011
Assessment 2012 - Criteria Changes (1)
7
SAM believes that companies that have a long-term commitment to equal gender opportunities reap the benefits by turning the resulting senior management diversity into a competitive advantage. In this year’s assessment, the approach was refined and updated by looking at two main indicators for gender equality: retention of female talent and equal remuneration.
Labor Practice Indicators & Human Rights
In addition to the changes to the general criteria described above, a set of sector specific and cross-industry criteria were introduced or significantly improved. These criteria include Strategy for Emerging Markets (for selected industrial sectors), Antitrust Policy (across several sectors), Fleet Management (airlines), Online Risks & Opportunities (media), Human Rights – freedom of expression & privacy (selected technology sectors) and Innovation Management (healthcare).
Various sector specificcriteria
In light of the “UN Framework and Guiding Principles on Business and Human Rights” (“the Ruggie framework”) which was endorsed by the UN Human Rights’Council in June 2011, SAM introduced a new question on the topic. The question assesses the degree of awareness and adoption of the “Ruggie Framework”.
Labor Practice Indicators & Human Rights
Criteria Key changes compared to 2011
Assessment 2012 - Criteria Changes (2)
8
Assessment 2012 - Global Supersector Leaders (1)
Effective as of September 24, 2012
Industrial Goods & ServicesGermanySiemens AG
HealthcareSwitzerlandRoche Holding AG
Food & BeverageNetherlandsUnilever NV
Financial ServicesBrazilItausa - Investimentos Itau SA
Construction & MaterialsSouth KoreaGS Engineering & Construction Corp
ChemicalsNetherlandsAkzo Nobel NV
Basic ResourcesFinlandUPM-Kymmene OYJ
BanksAustraliaAustralia & New Zealand Banking Group Ltd
Automobiles & PartsGermanyBayerische Motoren Werke AG
SUPERSECTORCOUNTRYNAME
9
Assessment 2012 - Global Supersector Leaders (2)
Effective as of September 24, 2012
Travel & LeisureFranceAir France-KLM
UtilitiesSpainIberdrola SA
TelecommunicationsSouth KoreaKT Corp
TechnologyFranceAlcatel-Lucent SA
RetailSouth KoreaLotte Shopping Co Ltd
Real EstateAustraliaGPT Group
Personal & HouseholdNetherlandsKoninklijke Philips Electronics NV
Oil & GasSpainRepsol SA
MediaNetherlandsTelenet Group Holding NV
InsuranceSwitzerlandSwiss Re AG
SUPERSECTORCOUNTRYNAME
10
Assessment 2012 – DJSI Index Range
Effective as of September 24, 2012
Index Components
Free-float market cap Sustainability Score
DJSI World 340 ����
DJSI World Enlarged 592 ����
DJSI World ex US 278 ����
DJSI World 80 80 ����
DJSI World ex US 80 80 ����
DJSI Europe 166 ����
DJSI Eurozone 96 ����
DJSI Europe 40 40 ����
DJSI Eurozone 40 40 ����
DJSI North America 140 ����
DJSI United States 117 ����
DJSI North America 40 40 ����
DJSI United States 40 40 ����
DJSI Asia Pacific 154 ����
DJSI Asia Pacific 40 40 ����
DJSI Japan 40 40 ����
DJSI Korea 52 ����
DJSI Korea 20 20 ����
Weighted by
11
DJSI World – Index Range
338 ComponentsDJSI World ex Tobacco
325 ComponentsDJSI World ex Gambling
305 ComponentsDJSI World ex Alcohol, Tobacco, Gambling, Armaments & Firearms
296 ComponentsDJSI World ex Alcohol, Tobacco, Gambling, Armaments & Firearms, Adult
Entertainment
80 ComponentsDJSI World 80
80 ComponentsDJSI World ex US 80
340 ComponentsDJSI World
Effective as of September 24, 2012
12
DJSI World – Largest Additions & Deletions
TechnologyUnited StatesDell Inc
BanksFranceSociete Generale SA
Industrial Goods/SvcJapanMitsubishi Corp
InsuranceNetherlandsING Groep NV
BanksSwitzerlandUBS AG
UtilitiesUnited StatesDuke Energy Corp
TelecommunicationsSpainTelefonica SA
Industrial Goods/SvcUnited StatesUnited Technologies Corp
Health CareUnited KingdomGlaxoSmithKline PLC
TechnologyUnited StatesInternational Business
Machines Corp
SUPERSECTORCOUNTRYNAME
Industrial Goods/SvcUnited StatesEcolab Inc
Oil & GasUnited StatesBaker Hughes Inc
Oil & GasCanadaCenovus Energy Inc
ChemicalsGermanyLinde AG
Oil & GasCanadaEnbridge Inc
TechnologyUnited StatesHewlett-Packard Co
RetailSwedenHennes & Mauritz AB
RetailUnited StatesTarget Corp
Industrial Goods/SvcCanadaCanadian National Railway Co
TechnologyUnited StatesMicrosoft Corp
SUPERSECTORCOUNTRYNAME
Largest 10 Additions (Listed by descending Free Float Market Capitalization)
Largest 10 Deletions (Listed by descending Free Float Market Capitalization)
Values as of August 31, 2012
13
DJSI World – Selection
2,500 largest companies of theDow Jones Total Global Stock Market Index58 DJSI Sectors52 Countries
Selection of top 10% in terms of Sustainability in each sector
15% target marketcap coverage ineach supersector
340 Components58 DJSI Sectors30 CountriesReview 2012: 41 ADD / 41 DEL
DJSI World
Effective as of September 24, 2012
14
DJSI World – Performance
Since Launch, 08/99 – 08/12 (EUR, Total Return)
40
60
80
100
120
140
Aug-99 Oct-01 Dec-03 Feb-06 Apr-08 Jun-10 Aug-12
Dow Jones Sustainability World Index (in EUR, TR)
MSCI World (in EUR, TR)
15
DJSI Europe – Index Range
145 ComponentsDJSI Europe ex Alcohol, Tobacco, Gambling, Armaments & Firearms
139 ComponentsDJSI Europe ex Alcohol, Tobacco, Gambling, Armaments & Firearms, Adult Entertainment
40 ComponentsDJSI Europe 40
96 ComponentsDow Jones Sustainability Eurozone Index (DJSI Eurozone)
84 ComponentsDJSI Eurozone ex Alcohol, Tobacco, Gambling, Armaments & Firearms
80 ComponentsDJSI Eurozone ex Alcohol, Tobacco, Gambling, Armaments & Firearms, Adult Entert.
40 ComponentsDJSI Eurozone 40
166 ComponentsDow Jones Sustainability Europe Index (DJSI Europe)
Effective as of September 24, 2012
16
DJSI Europe – Largest Additions & Deletions
Basic ResourcesFinlandUPM-Kymmene OYJ
Industrial Goods/SvcSpainAmadeus IT Holding SA
InsuranceNetherlandsAegon NV
TelecommunicationsSwitzerlandSwisscom AG
TelecommunicationsNorwayTelenor ASA
RetailNetherlandsKoninklijke Ahold NV
Basic ResourcesLuxembourgArcelorMittal
Industrial Goods/SvcUnited KingdomBAE Systems PLC
ChemicalsGermanyLinde AG
Oil & GasUnited KingdomBG Group PLC
SUPERSECTORCOUNTRYNAME
Industrial Goods/SvcSwedenSandvik AB
Industrial Goods/SvcGermanyDeutsche Post AG
UtilitiesGermanyRWE AG
BanksFranceSociete Generale SA
Personal &
Household GoodsFranceL'Oreal SA
ChemicalsSwitzerlandSyngenta AG
RetailUnited KingdomTESCO PLC
Personal &
Household GoodsFrance
LVMH Moet Hennessy Louis
Vuitton SA
UtilitiesGermanyE.ON AG
BanksUnited KingdomHSBC Holdings PLC
SUPERSECTORCOUNTRYNAME
Largest 10 Additions (Listed by descending Free Float Market Capitalization)
Largest 10 Deletions (Listed by descending Free Float Market Capitalization)
Values as of August 31, 2012
17
DJSI Europe – Selection
600 largest European companies of theDow Jones Total Global Stock Market Index54 DJSI Sectors16 Countries
Selection of top 20% in terms of Sustainability in each sector
45% target marketcap coverage ineach supersector
166 Components50 DJSI Sectors16 CountriesReview 2012: 17 ADD / 23 DEL
DJSI Europe
Effective as of September 24, 2012
18
DJSI Europe - Performance
01/06 – 08/12 (EUR, Total Return)*
40
60
80
100
120
140
Jan-06 Feb-07 Mar-08 Apr-09 May-10 Jun-11 Jul-12
Dow Jones Sustainability Europe Index (EUR, TR)
DJ STOXX 600 (EUR, TR)
* Based on backtracking data
19
DJSI Asia/Pacific – Index Range
40 ComponentsDJSI Japan 40
40 ComponentsDJSI Asia Pacific 40
138 ComponentsDJSI Asia Pacific ex Alcohol, Tobacco, Gambling, Armaments & Firearms
154 ComponentsDJSI Asia Pacific
Effective as of September 24, 2012
20
DJSI Asia/Pacific – Largest Additions & Deletions
Real EstateJapanTokyu Land Corp
Construction & MaterialsJapanKajima Corp
ChemicalsJapanJSR Corp
Health CareJapanSysmex Corp
ChemicalsAustraliaIncitec Pivot Ltd
InsuranceSouth Korea
Samsung Life Insurance
Co Ltd
ChemicalsJapanNitto Denko Corp
Basic ResourcesTaiwanChina Steel Corp
UtilitiesHong KongPower Assets Holdings Ltd
Food & BeverageJapanKirin Holdings Co Ltd
SUPERSECTORCOUNTRYNAME
Personal & Household
GoodsJapanSekisui Chemical Co Ltd
ChemicalsJapanKuraray Co Ltd
InsuranceJapanT&D Holdings Inc
Automobiles & PartsJapan
Sumitomo Electric
Industries Ltd
Basic ResourcesJapanNippon Steel Corp
InsuranceAustraliaAMP Ltd
Industrial Goods/SvcJapanITOCHU Corp
Basic ResourcesAustraliaNewcrest Mining Ltd
Health CareAustraliaCSL Ltd
Industrial Goods/SvcJapanMitsubishi Corp
SUPERSECTORCOUNTRYNAME
Largest 10 Additions (Listed by descending Free Float Market Capitalization)
Largest 10 Deletions (Listed by descending Free Float Market Capitalization)
Values as of August 31, 2012
21
DJSI Asia/Pacific – Selection
600 largest companies from the developed Asia Pacific* countries56 DJSI Sectors7 Countries
Selection of top 20% in terms of Sustainability in each sector
45% target marketcap coverage ineach supersector
154 ComponentsDJSI Sectors
44 CountriesReview 2012: 14 ADD / 15 DEL
DJSI Asia
Pacific
* 600 largest companies from Australia, Hong Kong, Japan, New Zealand, Singapore, South Korea and TaiwanEffective as of September 24, 2012
22
DJSI Asia/Pacific – Performance
Since Launch, 01/09 – 08/12 (USD, Total Return)
80
100
120
140
160
180
Jan-09 Mar-10 May-11 Jul-12
DJSI Asia/Pacif ic Total Return (USD)
MSCI Asia Pacif ic
23
DJSI North America – Index Range
117 ComponentsDJSI United States
40 ComponentsDJSI United States 40
40 ComponentsDJSI North America 40
107 ComponentsDJSI United States ex Alcohol, Tobacco, Gambling, Armaments & Firearms
130 ComponentsDJSI North America ex Alcohol, Tobacco, Gambling, Armaments & Firearms
140 ComponentsDJSI North America
Effective as of September 24, 2012
24
DJSI North America – Largest Additions & Deletions
TechnologyUnited StatesIntuit Inc
TechnologyUnited StatesDell Inc
UtilitiesUnited StatesConsolidated Edison Inc
Health CareUnited StatesAllergan Inc
Financial ServicesUnited States
Bank of New York Mellon
Corp
Oil & GasCanadaTransCanada Corp
Basic ResourcesUnited States
Freeport-McMoRan Copper
& Gold Inc
ChemicalsCanada
Potash Corp of
Saskatchewan Inc
MediaUnited StatesTime Warner Inc
TelecommunicationsUnited StatesVerizon Communications Inc
SUPERSECTORCOUNTRYNAME
MediaUnited StatesLiberty Global Inc
Industrial Goods/SvcUnited StatesWaste Management Inc
Industrial Goods/SvcUnited StatesTE Connectivity Ltd
Industrial Goods/SvcUnited StatesEcolab Inc
Oil & GasCanadaEnbridge Inc
Basic ResourcesCanadaGoldcorp Inc
ChemicalsUnited States
EI du Pont de Nemours &
Co
Personal &
Household GoodsUnited StatesAltria Group Inc
TechnologyUnited StatesMicrosoft Corp
Oil & GasUnited StatesExxonMobil Corp
SUPERSECTORCOUNTRYNAME
Largest 10 Additions (Listed by descending Free Float Market Capitalization)
Largest 10 Deletions (Listed by descending Free Float Market Capitalization)
Values as of August 31, 2012
25
DJSI North America – Selection
600 largest North American companies* of the Dow Jones Total Global Stock Market Index55 Sectors2 Countries
Selection of top 20% in terms of Sustainability in each sector
45% target marketcap coverage ineach supersector
140 Components49 DJSI Sectors
Review 2012: 17 ADD / 16 DEL
DJSI North
America
* 600 largest companies from Canada and the United StatesEffective as of September 24, 2012
26
DJSI North America – Performance
Since Launch, 09/05 – 08/12 (USD, Total Return)
40
60
80
100
120
140
Sep-05 Jun-06 Mar-07 Dec-07 Sep-08 Jun-09 Mar-10 Dec-10 Sep-11 Jun-12
DJSI North America (TR, USD)
DJTSM US LrgTr (TR, USD)
27
DJSI Korea – Index Range
20 ComponentsDJSI Korea 20
52 ComponentsDJSI Korea
Effective as of September 24, 2012
28
DJSI Korea – Largest Additions & Deletions
Construction &
MaterialsSouth KoreaAsia Cement Co Ltd
MediaSouth KoreaWoongjin Thinkbig Co Ltd
Financial ServicesSouth KoreaDaishin Securities Co Ltd
SUPERSECTORCOUNTRYNAME
Industrial Goods/SvcSouth KoreaHanjin Shipping Co Ltd
Construction &
MaterialsSouth KoreaKCC Corp
InsuranceSouth Korea
Samsung Life Insurance Co
Ltd
SUPERSECTORCOUNTRYNAME
Largest 3 Additions (Listed by descending Free Float Market Capitalization)
Largest 3 Deletions (Listed by descending Free Float Market Capitalization)
*Market Capitalization taken as of August 31, 2012
29
DJSI Korea – Selection
200 largest Korean companies of the Dow Jones Total Global Stock Market Index44 DJSI Sectors
Selection of top 30% in terms of Sustainability in each sector
50% target marketcap coverage ineach supersector
52 Components27 DJSI Sectors
Review 2012: 3 ADD / 3 DEL
DJSI Korea
Effective as of September 24, 2012
30
DJSI Korea – Performance
Since Launch, 10/09 – 08/12 (KRW, Total Return)
60
80
100
120
140
160
180
200
Dec-05 Jan-07 Feb-08 Mar-09 Apr-10 May-11 Jun-12
DJSI Korea Total Return (KRW)
DJ Korea TSM Total Return (KRW)
31
Australian SAM Sustainability Index (AuSSI)Largest Additions & Deletions
Health CareAustraliaCochlear Ltd
Oil & GasAustraliaWorleyParsons Ltd
BanksAustralia
National Australia
Bank Ltd
SUPERSECTORCOUNTRYNAME
Basic ResourcesAustraliaPanAust Ltd
RetailAustraliaMetcash Ltd
Basic ResourcesAustraliaIluka Resources Ltd
SUPERSECTORCOUNTRYNAME
Largest 3 Additions (Listed by descending Free Float Market Capitalization)
Largest 3 Deletions (Listed by descending Free Float Market Capitalization)
Values as of August 31, 2012
32
AuSSI – Selection
200 largest Australian companies of the Dow Jones Total Global Stock Market Index20 AuSSI Sectors
Selection of top 30% in terms of Sustainability in each sector
50% target marketcap coverage ineach supersector
59 Components19 AuSSI Sectors
Review 2012: 4 ADD / 15 DEL
AuSSI
Effective as of September 24, 2012
33
AuSSI – Performance
Since Launch, 17/02/05 – 08/12 (AUD, Total Return)
80
100
120
140
160
180
200
Feb-
05
Sep-
05
Apr-
06
Nov-
06
Jun-
07
Jan-
08
Aug-
08
Mar-
09
Oct-
09
May-
10
Dec-
10
Jul-
11
Feb-
12
Sep-
12
AuSSI Total Return (AUD)
ASX 200 Total Return (AUD)
34
Additional Resources – DJSI 2012
DJSI Licensees can access a full component list at:
• http://www.sustainability-indexes.com/index/index.jsp
Companies who would like further information on the Corporate Sustainability
Assessment (CSA) can find more details at:
• https://assessments.sam-group.com/
Further information about the 2012 DJSI Review:
• http://www.sustainability-indexes.com/review/annual-review-2012.jsp
35
SAM Sustainable Asset Management AG
Josefstrasse 218
8005 Zurich
Switzerland
Phone: +41 44 653 1800
Fax: +41 44 653 1810
E-Mail: indexes@sam-group.com
www.sam-group.com,
www.sustainability-indexes.com
Additional Resources – Contact Details
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