Notes from investment and stewardship teams who commissioned ESG factor comparisons and related reviews.
“The peer table on auditor tenure and related-party leases forced a longer discussion than our rating snapshot ever did. I still wished they had included a fifth issuer we added late — that was on us for changing scope midstream.”
“For AGM season we needed controversy timelines, not scores. The chronology on labour disputes matched what IR later confirmed in the meeting.”
“Materiality briefing for SET-listed food producers was plain language. Our junior analyst used the reading list the same week.”
“Carbon disclosure gaps across our cement peers were laid out with page citations. We disagreed with one weighting suggestion, but the underlying filing extracts were solid.”
Case note — four SET banks, board independence factors
A Bangkok-based long-only desk asked for an ESG peer comparison limited to board independence, committee attendance disclosures, and related-party credit exposure language across four listed banks. Kickoff locked definitions for “independent director” using each bank’s own annual-report criteria plus exchange rules, then mapped divergences. The memo flagged one issuer whose independence narrative relied on tenure exceptions that peers disclosed more plainly. The desk used the one-page brief in IC the following Tuesday; they did not change position size solely on the note, but scheduled an IR call on committee attendance reporting.
Case note — controversy timeline ahead of a contested vote
A stewardship team preparing engagement questions on a listed industrial issuer needed a six-year controversy timeline spanning environmental fines and contractor safety incidents. Our review separated settled cases from open proceedings and cited exchange filings where provisions appeared. Two questions from the pack were asked verbatim in the pre-AGM call; management pointed to a newer safety programme that had not yet appeared in the sustainability report — a gap the team logged for follow-up.
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