Oddo Securities

a. brief industry overview of ESG-priorities for global telecommunications based on the SASB standard, describing at least 6 specific metrics to measure the ESG-priorities.

b. Complement the SASB ESG-priority analysis with brief info from (European) telecommunications bodies e.g. the European Telecommunications Network Operators' Association (https://www.etno.eu/home/working-groups/overview), the Global e-Sustainability Initiative (http://gesi.org).

c. Include a listing of the ESG-priorities as stated by British Telecom OR France Telecom (info from the latest annual reports and websites).

d. Include issues which are being reported by non-profit stakeholders.

e. Critically evaluate variances between the ESG-priorities listed in the case and those listed above (part of the variance is due to the fact that the case was written several years ago).

f. Do you require further information to make a decision? If so, what information and why is it required?

g. Assume that you must make a decision based on the available data - explain your recommendation.

2. Argue against the use of ESG to value companies

Provide 2 well-founded arguments - including citations from at least three academic papers per argument - to support the case against the use of ESG criteria in the company valuation process.

3. Sustainable soft commodities

Choose one of the following soft commodities and briefly explore the key ESG-priorities, as well as measures being taken to address these priorities. Cite challenges to implement ESG-priorities - operational and investor-related. Information should include insights from industry associations, companies, non-profit associations, and financial institutions.

Wild caught seafood

Soy

Beef

4. Green Real Estate Investment Trusts

Critically evaluate a green REIT, briefly describing its activity, its financing model, government programs and/or regulations it uses to complement its financial performance, the metrics used to measure its environmental/social impact, the expected impact of environmental/social criteria on the financial performance, and information on the actual financial performance of the REIT.

5. Impact Investing

Critically analyze an Asian impact investing fund, briefly describing its operating model, the financial model (below-market and/or market-based returns), the metrics used to measure environmental/social impact, and the financial performance of the fund against benchmarks.