We are pleased to invite you to a briefing on our latest research entitled ESG Disclosure : A Cat And Mouse Game For Investors.   As the global trend of outsourcing from Europe and the United States to low cost markets such as Asia looks set to continue, we are seeing an increasing trend of Asian supply chain companies listing on the Hong Kong Stock Exchange (HKEx). Through the issuance of initial public offering (IPO) documents, listings provide a rare opportunity for investors to assess the materiality of potential Environmental, Social and Governance (ESG) risks. Indeed, IPO documents such as the company prospectus, are often the only means by which ESG issues are publicly disclosed, making them an increasingly valuable resource for investors. In early 2006, ASrIA undertook a review of IPO documents as a means of assessing critical disclosure and operational trends on ESG issues from a representative cross section of supply chain companies operating in China and listing on the HKEx.  Our findings indicate that whilst the environment in which these companies operate in is rapidly changing, disclosure is generally at a standstill, both in terms of coverage and content. 

The briefing will provide the opportunity to hear about the findings in detail from ASrIA, in addition James Pearson, CEO of Pacific Risk Advisors (PRA), will also provide practical views on how these issues can be addressed through appropriate due diligence procedures, indeed what is actually happening on the ground. PRA advises on strategic and operational non financial risk management needs of investors in Asia.
 
Copies of the Report will be available free of charge. 
 
The briefing will be held at 4:00pm on Wednesday 30th August and will close at 6:00pm at the latest.  Attendance will be on a first come first serve basis, with priority registration being given to ASrIA members.  Please RSVP and let me know if you are able to attend.  Non-ASrIA members who wish to attend will be charged HK$200.