Daily Brief ESG: The Rift Between Managers and Shareholders of Standard Market-Listed Companies Is Likely to Deepen and more

• Many of the companies that didn’t meet the listing criteria for the prime market still failed to gain market recognition over an 18-month period and moved to the standard market.
• It is believed that TSE expects more companies to gradually drop out of Prime Market by raising the hurdle for effort targets that aren’t explicitly stated in the listing criteria.
• As quality differences gradually emerge between the Prime and Standard markets, the rift between management awareness and shareholders of Standard market-listed companies is likely to deepen in the future.

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