2009-07-29

           "Major emergig market investors want more disclosure on ESG issues, global survey finds"

                                                         News Release Abstract

                                                               June 22, 2009

The Emerging Markets Disclosure (EMD) Project by EIRIS and the sponsor, the International Working Group of the Social Investment Forum, cited the lack of environmental, social and corporate governance (ESG) disclosure as the key challenge to investing in emerging markets. The survey showed that the poor ESG disclosure by emerging markets costs investors’ confidences. The Brazil and South Africa were recognized for making the most progress toward greater ESG disclosure. While some investors get discouraged at still-seemingly insufficient amount of disclosures from the emerging markets, there are many who get encouraged at the result of the survey. Investors note that some, like Samsung Electronics and Posco, have taken initiatives for more disclosures. After all, Asian companies are building the structures, in which they will find needs for ESG reporting, especially to get more feedbacks from their stakeholders.