Standard Ethics Aei

Standard Ethics
Industry Ratings
Founded 2001
Headquarters London and Brussels, Belgium, UK and Italy
Key people
 Mrs.Blanche Ullens de Schooten (Chairman)
Products Solicited Sustainability Ratings
Services Sustainability Rating
Website Standard Ethics

Standard Ethics is a sustainability reporting and rating agency based in London and Brussels which aims at promoting corporate ethics, Corporate Social Responsibility (CSR), Socially responsible investing (SRI) and corporate governance according to the principles and guidelines of the United Nations (UN), the Organisation for Economic Co-operation and Development (OECD), and the European Union (EU).[1] Standard Ethics in March 2013 becomes the first independent European Sustainability rating agency (Corporate social responsibility and Corporate Governance) following the decision to issue only rating on request ("solicited"), with a standard methodology.[2]

Standard Ethics Rating

The Standard Ethics Rating is a Solicited Sustainability Rating (SSR). It is a rating that intends to deliver an opinion on the level of compliance by companies and sovereign nations in the field of sustainability and corporate social responsibility (CSR) on the basis of documents and guidelines published by the United Nations (UN), the Organisation for Economic Co-operation and Development (OECD), The European Union (EU).[3] The methodological approach of Standard Ethics dates back to 2001, as a research department of the Agenzia Europea d’Investimenti (AEI) SpA, an Italian holding company active in the sustainable investments. It becomes a separate entity after a spin-off in 2003.[4][5][6][7]

Assessment System

Since 2002, the final assessments by Standard Ethics on the level of conformity of companies and nations to the baseline ethical values are expressed with nine different Ratings: EEE; EEE-; EE+; EE; EE-; E+; E; E-; F.[8]

  • "EEE" stands for ‘above average’;
  • "EE" for ‘average’;
  • "E" for ‘below average’.

“EE-” level or above, indicates a full investment grade. Whenever an entity is downgraded to “F” holding its securities may have a strong negative impact. A Security Segregation Impact Notice (SSIN) will disclose details. Any single Rating class could have a positive or negative Outlook. Those nations and companies which do not comply with the values expressed by the United Nations, OECD and EU, or that do not release enough information, or are facing major changes, do not receive ratings and are included amongst the “pending” issuers.[9] Those nations and companies that do not comply with the values expressed by the United Nations do not receive ratings and are included amongst the "suspended" issuers. Standard Ethics uses an analyst-driven rating process, so the work to be carried out does not require applicants to fill out forms and questionnaires or draft other documentation in addition to existing information.

Standard Ethics indices

Publication of SERs grants access to one or more Standard Ethics indices according to company’s type and size. For Europe, Standard Ethics has created the following Indices:

  • British Index (Composed of the 40 largest British listed companies with a Standard Ethics Rating).
  • French Index (Composed of the 40 largest French listed companies with a Standard Ethics Rating).
  • Belgium Index (Composed of the 20 largest Belgium listed companies with a Standard Ethics Rating).
  • Swiss Index – Composed of the 30 largest Swiss listed companies with a Standard Ethics Rating.
  • US Index (Composed of the 20 largest US listed companies with a Standard Ethics Rating).
  • Italian Index (40 companies within the FTSE-MIB index of the Italian Stock Exchange that have been assigned a Standard Ethics Rating).
  • EU Banks Index (Composed of the 40 largest European listed banks with a Standard Ethics Rating).
  • Spanish Index (Composed of the 30 largest Spanish listed companies with a Standard Ethics Rating).
  • Dutch Index (Composed of the 30 largest Dutch listed companies with a Standard Ethics Rating).
  • European Green Bonds Index (Composed of all major Euro Green Bonds issue; Italian Banks Index. This is a governance Index with banks listed in the Italian Stock Exchange).

The way Standard Ethics reports on its indices is based on full disclosure.

National Ratings

The following 44 listings (in 2013, Standard Ethics for the first time assigns the rating to the Vatican City State):[10]

CountryRatingOutlookDate
 ArgentinaEOctober 2015
 AustraliaEE+October 2015
 AustriaEEE-October 2015
 BelgiumEE-October 2015
 BrazilEE-April 2014
 BulgariaEE-April 2014
 CanadaEE+October 2015
 ChileE+October 2015
 ChinaE-April 2014
 Czech RepublicEENegativeFebruary 2016
 DenmarkEEEApril 2014
 EgyptE-April 2014
 EstoniaEE-April 2014
 FinlandEEEOctober 2015
 FranceEEE-April 2014
 GermanyEE+April 2014
 United KingdomEEE-April 2014
 GreeceEEUnder monitoringJanuary 2015
 HungaryEFebruary 2016
 IcelandEEEApril 2014
 IndiaEUnder monitoringApril 2014
 IrelandEEE-April 2014
 IsraelE+April 2014
 ItalyEE+April 2014
 JapanEEApril 2014
 LuxembourgEE+October 2015
 MexicoEE-April 2014
 NetherlandsEEE-April 2014
 New ZealandEEE-October 2015
 NorwayEEEOctober 2015
 PolandE+February 2016
 PortugalEEApril 2014
 RomaniaEE-April 2014
 RussiaEUnder monitoringApril 2014
 SloveniaEE+October 2015
 SlovakiaEENegativeFebruary 2016
 South AfricaEE-October 2015
 South KoreaE+April 2014
 SpainEEE-April 2014
 SwedenEEEApril 2014
  SwitzerlandEE+April 2014
 TurkeyE+April 2014
 USAEEE-April 2014
  Vatican CityEE[11]April 2014

References

  1. ↑ "Archived copy" (PDF). Archived from the original (PDF) on 25 January 2011. Retrieved 4 July 2011.
  2. ↑ http://www.thenational.scot/business/fresh-blow-for-rbs-as-ethics-agency-gives-them-an-e--rating.17688
  3. ↑ Standard Ethics - differently from other agencies – did not define the concept of ethics, in 2003, Standard Ethics inherited developing a non-subjective and pre-determined system of values, called sustainability or "institutional" approach."Finanza Etica", la Nazione del 24 luglio 2003, Articolo di Jacopo Schettini Gherardini
  4. ↑ "E le società quotate faranno i conti con il rating Etico", Corriere della Sera del 18-05-2002, Articolo di Massimo Sideri.
  5. ↑ "E’ arrivato ETIF, il fondo fatto ad ONU. L’Agenzia Europea degli Investimenti scende in campo con un bilanciato internazionale. E con emissione di rating per i paesi OCSE." Vita del 15 novembre 2002, Articolo di Francesco Maggio.
  6. ↑ "Fondi etici, perché non sono tutti uguali". Repubblica, Affari e Finanza del 25 novembre 2002. Articolo di Mariano Mangia.
  7. ↑ "l’Agenzia Europea degli Investimenti cambia pelle, trasformandosi da holding ad agenzia di Rating", MF, 23 maggio 2002.
  8. ↑ CSR Magazine, October 2002, p. 35 Archived 26 December 2010 at the Wayback Machine.
  9. ↑
  10. ↑ Vatican City State receives elevated Standard Ethics Rating. 2013-10-28 Vatican Radio.http://www.news.va/en/news/vatican-city-state-receives-elevated-standard-ethi
  11. ↑ http://en.radiovaticana.va/news/2013/10/28/vatican_city_state_receives_elevated_standard_ethics_rating/en1-741479
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