Saturday 5th September 2015
NEWS TICKER, THURSDAY, September 3rd: The Straits Times Index (STI) ended 28.3 points or 0.98% higher to 2906.43, taking the year-to-date performance to -13.63%. The top active stocks today were SingTel, which gained 0.82%, DBS, which gained 0.80%, UOB, which gained 1.40%, OCBC Bank, which gained1.13% and CapitaLand, with a 0.36%advance. The FTSE ST Mid Cap Index gained 0.55%, while the FTSE ST Small Cap Index rose 0.24% - Madrid City Hall announced it would dedicate €10m out of its 2016 budget to a "welcome plan for refugees" to include housing, integration, psychological support and legal aid, City Hall spokeswoman Rita Maestre (Ahora Madrid) said during a press conference on Thursday. Maestre said a budget had been decided upon but that specific numbers had not: "We want to welcome all those who are fleeing from war", adding that given their situation "a permanent housing solution" would be needed in the city. The Mayor of the Spanish capital, Manuela Carmena, said on Wednesday that a decision would be taken at the city government meeting today: "The city of the hug must, of course, be ready to welcome refugees" - The European Bank for Reconstruction and Development (EBRD) is joining international efforts to clean up Tunisia’s Lake Bizerte with a €20m loan and technical assistance to support the expansion and rehabilitation of the sewerage network of the Bizerte region and the rehabilitation of three wastewater treatment plants located near the lake. The EBRD’s investment is part of an integrated environmental programme aimed at de-polluting Lake Bizerte and reducing sources of pollution through investments in wastewater, solid waste and industrial effluents. This programme is labelled by the Union for the Mediterranean and is part of the Horizon 2020 Initiative, which aims to de-pollute the Mediterranean by the year 2020. The European Investment Bank is providing a €40 million sovereign loan to the programme while the European Union Neighbourhood Investment Facility is contributing a €15m grant for both capital expenditure and technical cooperation - Analysis of illicit financial flows (IFFs) by Global Financial Integrity (GFI) shows that over the period 2003-2012 the global volume of IFFs grew by more than 9% annually (. In 2012 (the most recent year for which data are available), illicit flows were estimated at close to $1trn. In response to this unfettered surge in illicit capital leaving developing nations, the UN has endorsed target 16.4 in the Sustainable Development Goals (SDGs), which commits the global community to “significantly reduce” IFFs by 2030. This UN action “represents an historic moment in development policy given that it is the first time the international community has recognized the illicit flows problem and pledged to address it,” says GFI President Raymond Baker - US Secretary of Commerce Penny Pritzker named Eduardo Leite, Chairman of the Executive Committee of Baker & McKenzie LLP, as the new chair of the US section of the US-Brazil CEO Forum. “Mr. Leite has served on the U.S. section of the CEO Forum for several years, and I am pleased that he has agreed to serve as Chairman,” said Secretary Pritzker. The new US section chair was named after the former chair, Ms. Patricia Woertz, Chairman of the Board of Directors of Archer Daniels Midland Company, submitted her resignation from the role. However, Woertz will remain a member of the U.S.-Brazil CEO Forum, and Leite will complete the current three-year term, which ends on August 13th 2016 - MarketAxess Holdings Inc. (Nasdaq:MKTX), the operator of a leading electronic trading platform for fixed-income securities, and the provider of market data and post-trade services for the global fixed-income markets, today announced total monthly trading volume for August 2015 of $75.5 billion, consisting of $43.7 billion in U.S. high-grade volume, $26.7bn in other credit volume, and $5.1 billion in liquid products volume. MarketAxess is providing both the reported and adjusted estimated US high-grade TRACE volumes on its website. The Company believes that the adjusted estimated volumes provide a more accurate comparison to prior period reporting.

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Actis launches Energy Impact Model

Tuesday, 07 February 2012
Actis launches Energy Impact Model Actis, the pan-emerging markets private equity investor, has today announced the launch of the Actis Energy Impact Model, a tool for assessing progress over the life of its energy investments. The Impact Model reportedly captures in a systematic way the key drivers that build value, and helps pinpoint where action is required. http://www.ftseglobalmarkets.com/

Actis, the pan-emerging markets private equity investor, has today announced the launch of the Actis Energy Impact Model, a tool for assessing progress over the life of its energy investments. The Impact Model reportedly captures in a systematic way the key drivers that build value, and helps pinpoint where action is required.

The model has been under development since mid-2010 and is based on the Five Capitals model developed by Forum for the Future, a leading sustainability NGO that works with the business community. The five capitals are finance, people, social/community, infrastructure and environment, to which Actis has added a sixth, namely governance. The firm has also worked with Forum and Imperial College to test and improve the model.

“Actis believes the capital it invests in the emerging markets should be transformational for society. This model enables that wider impact to be properly measured and adjusted, and helps us to measure the non-financial drivers of market value. The Impact Model will help to build value in our portfolio companies that is meaningful and increases the financial worth of each company,” explains Torbjorn Caesar, co-head Energy at the firm.



The Impact Model requires Actis and the management of its investee companies to score each investment twice a year on up to 63 criteria, both quantitative and qualitative. For example, under the category of Environment, a quantitative criterion would be GHG Emission, which is assessed by measuring distribution losses as a percentage of energy dispatched, while a qualitative criterion would be the Impact on Land rated on a scale of 1 to 5. The results can then used for benchmarking, annual planning, target setting and review by both Actis and the investee company’s executive team. The model can also be used as part of the initial investment decision.

“From our work with leading companies, we know that hardwiring sustainability into management processes (such as impact indicators) is a critical element in making that part of everything the business does,” notes Jonathon Porritt at Forum for the Future.

Initially, Actis will apply the model to all its energy investments, which may well result in further refinement of the metrics. The Impact Model is structured so that individual indicators can be changed and improved over time without disrupting the core of the model. The firm is confident that measuring the impact of its investments will drive long-term sustainable value, and has developed a similar framework to assess the non financial value drivers of its other investments, but the ultimate ambition is for the private equity industry more widely to take it up.

“Offering the Impact Model to other private equity firms to adopt is a brilliant act of leadership. Pioneering companies realise that their success relies on many others,” says orritt. “Actis can help the private equity industry shed some of its negative reputation, and open up the prospect of a private equity sector that directs its undoubted dynamism at generating returns from sustainable activities.”

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