‘Waarom verantwoord beleggen nooit populair gaat worden’. · portfolio of sin stocks was...
Transcript of ‘Waarom verantwoord beleggen nooit populair gaat worden’. · portfolio of sin stocks was...
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‘Waarom verantwoord beleggen nooit populair gaat worden’.
Dennis van der Putten
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PRI in Person
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Titel van de presentatie in de voettekst 3
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Koersontwikkeling
Vraag Aanbod Koers
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In werkelijkheid…
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13 november: aanslagen Parijs
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‘Does it pay to be bad’?
The recession-proof portfolioOf Booze, Bets, Bombs and Butts
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‘Does it pay to be good’?
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Allebei extra rendement?? Wie heeft gelijk?
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Welke sector leverde het meeste op?
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Meeste rendement: Tabak: een ‘zonde’-sector
Tabak Markt11
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Zelfde voor Groot Brittanië
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Meeste rendement: Alcohol: een ‘zonde’- sector
Alcohol Markt13
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Hebben we een winnaar?
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Tegenonderzoek
Andere onderzoekers Andere ‘kijk’
Andere uitkomsten
• Many stocks included in
the sample would not
have been investable in
the real world..
• An equal-weighted
portfolio of sin stocks
was compared against a
value weighted
benchmark
The value-weighted alcohol and tobacco
portfolios no longer showed any significant
outperformance.
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Hoe zit het met verantwoord beleggen?
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The study combines the findings of about 2200 individual studies. Hence, this
study is by far the most exhaustive overview of academic research on this
topic and allows for generalizable statements.
The results show that the business case for ESG investing is empirically very
well founded. Roughly 90% of studies find a nonnegative ESG–CFP (corporate
financial performance) relation. More importantly, the large majority of
studies reports positive findings. We highlight that the positive ESG impact on CFP appears stable over time.
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Studie van Deutsche bank…
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Hebben we een winnaar?
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Hoe ziet de wereld er dan uit over 30 jaar?
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Trends die ons leven gaan beïnvloeden
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Trends die ons leven gaan beïnvloeden
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Wat doen we er tegen?: (wereld) leiders staan op
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Klimaattop Parijs (2015): de beloften
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ESG ontwikkelingen: gevolg van de oproepen
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In Nederland
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Maar er is meer nodig …
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Klimaatverandering: gevolgen voor rendement
Uit rapport van Mercer:
1. Climate change, under the scenarios modelled, will inevitablyhave an impact on investment returns..
2. Industry sector impacts will be the most meaningful. For
example, the average annual returns from the coal sub-sector could fall by anywhere between 18% and 74% over the next 35
years.
Conversely, the renewables sub-sector could see average annual
returns increase by between 6% and 54% over a 35 year time
horizon.
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Waarom verantwoord beleggen: risico-reductie
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Waarom verantwoord beleggen
Bron: Morgan Stanley: Here come the Millennials
0% 10% 20% 30% 40% 50%
Wil alleen werken voor eenduurzaam bedrijf
Koopt een duurzaam merk
checkt productverpakking opduurzaamheid
millennials
huidige beleggers
Millennials integreren duurzaamheid in hun gedrag
40%
22%
15%
7%
14%
5%
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Waarom verantwoord beleggen
Bron: Morgan Stanley: Here come the Millennials
0% 10% 20% 30%
Stopt met investeren bijbedrijven die normen
overtreden
Investeert alleen inbedrijven met hoge
kwaliteit ESG criteria
Investeert enkel inbedrijven met
verantwoorde doelen
millennials
huidige beleggers
15%
Millennials beleggen meer op basis van duurzame factoren
22%
12%
17%
9%
7%
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Voedsel
Water
Energie
Wereldwijd tekort aan:
Meer kansen
50%
35%
40%
1.000.000
700.000Hilton
AirBnB
disruptiefNieuw ontwikkelingen:
Aantal kamers
in 6 jaar
Aantal kamers in
ca 100 jaar
1.000.000
700.000
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Waarom verantwoord beleggen nooit populair gaat worden
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Zekerheid
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Ongelijkheid
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DANK U WEL!