Mark Andrich

Let's say you might be a producer of something that is hurting people or harming the planet, but maybe you're doing it in an efficient way.

ESG tends to give you a good mark for that.

So maybe some types of weapons manufacturers, let's say, I don't know, tobacco companies.

So they might say they might, you know, produce their cigarettes year on year with lower emissions.

Maybe they've got good workforce policies.

I'll give you a good example.

ESG tends to be a lot about disclosure and a lot about providing data.

So, you know, I might...

disclose to you, Nathan, that I'm going to punch you in the face, right?

And I might also tell you I've got a policy to not punch you in the face.

Now, the impact is that I still punch you in the face, even though I've got a great policy and I guess the impact is the same.

So what we're looking at is, okay, is, say, Tesla providing a product that's helping people or harming people?

How much is it helping people?

How much is it harming people?

And then how does that compare to the other car manufacturers, for example?

So, you know, we had VW as high risk because it produced diesel cars.

Yeah.

So we take companies' publicly available information.

So

know their annual reports and their websites and things like that and what we do is we actually translate that information we take out the text but we put it through a sustainability lens so it's really the lens on a company's data that then allows us to create the risk metrics why can't somebody else do that though i mean why can't someone else build something to parse an annual transcript and get the same thing you're getting