Daily Brief ESG: Millicom – ESG Report – Lucror Analytics and more

Lucror Analytics’ ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable).
We view Millicom’s ESG as “Adequate”, with a “Strong” score for Governance, but “Adequate” scores for the Social and Environmental pillars. Controversies are “Immaterial” and Disclosure is “Strong”.

• TSE, which receives listing fees from listed companies, has no choice but to take a negative attitude toward raising listing criteria that would reduce the number of listed companies.
• Behind many companies with stagnant P/Bs is the fact that managers lack stock price consciousness and companies with stock price stagnation for years eliminated and continue to be listing.
• In Japan, it is expected that industry restructuring, dissolution of parent-subsidiary listings, and going private will further increase through M&As, leading to a shakeout in the Japanese market.

• Lucror Analytics’ ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable).
• We view Braskem Idesa’s ESG as “Adequate”, in line with its scores for the Environmental, Social and Governance pillars. Controversies are “Material” and Disclosure is “Strong”.
• Braskem Idesa (Bakide), a single-asset 75%/25% JV between Braskem and Idesa, is Mexico’s largest polyethylene (PE) producer.

• Lucror Analytics’ ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable).
• We view Globo’s ESG as “Weak”, despite its “Adequate” score in quantitative terms. The Social and Governance scores are “Weak”, while the Environmental score is “Adequate”. Controversies are “Immaterial” and Disclosure is “Weak”.
• Globo Comunicacao e Participacoes SA (Globo), privately owned and controlled by the Marinho family, is the largest media group in Brazil. It controls the country’s leading broadcast TV network and its pay-TV programmer, as well as a diversified group of publishing companies and Internet content providers.

Lucror Analytics’ ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable).
We assess Pemex’s ESG as “Weak”, in line with the “Weak” Environmental, Governance and Social scores. Controversies are “Material”, but Disclosure is “Adequate”.