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1. FT SUSTAINABILITY BANKING AWARDS 2006 — OPPORTUNITY FOR ASIAN BANKS
The Financial Times announced on November 21, 2005 the launch of the first global awards dedicated to recognising banks that have actively integrated social and environmental objectives into their operations, while still maximising financial gain for their shareholders. ASrIA Chair, Tessa Tennant will be one of the judges of the Awards.
http://www.asria.org/news/press/1134011412
2. EAPF EMERGING MARKETS MANDATE: AN OPPORTUNITY FOR EMERGING MARKETS FUND MANAGERS
The £1bn Environment Agency Pension Fund is expected to shortly announce a tender for a 3 year emerging market mandate. The amount will be £50m with a 3% above benchmark target. The capacity of fund managers to understand how environment and sustainability impacts on investment will form part of the assessment of tenders. Thus any professional emerging market fund managers with expertise and understanding of environment issues are particularly encouraged to respond.
http://www.asria.org/news/press/1135134442

3. GRI STAKEHOLDER COUNCIL ROTATION OF MEMBERS
The GRI Stakeholder Council is holding its first rotation of membership and a number of seats are opening up on the Council. A process has been initiated to solicit nominations for new members until January 31 and candidates from Asia would be particularly welcome.
http://www.asria.org/news/press/1137465694

4. SRI UP 70% TO AU$7.67 BILLION IN AUSTRALIA
The Ethical Investment Association (EIA) 5th Annual Benchmarking Survey has revealed that sustainable responsible investment (SRI) funds under management in Australia grew from $4.5 billion to $7.67 billion in the year to June 30, 2005, with wholesale portfolios representing 64.2% ($4.92 billion) of this amount. Over the last twelve months total SRI assets have grown at a rate of 70%, while cumulatively over the last five years they have increased by 2360%.
http://www.asria.org/news/press/1131337747

5. PROTECTING OVERSEAS WORKERS — A VERITÉ REPORT
Verité's s research report finds a pattern of worker exploitation among migrant contract workers in Asia and the Middle East. Based on interviews with 600 foreign contract workers from Indonesia, the Philippines, Thailand and Vietnam, the report suggests that illegal and exploitative fees can take as much as one-third of the wages that workers expect to make over the life of their contracts. Unexpected in-country charges like 'runaway insurance' further constrain workers' ability to escape poverty.
http://www.asria.org/news/press/1134636330

6. DIALOGUE ON ILLEGAL LOGGING PUBLISHED
The Forests Dialogue recently published a summary of its March 7-10, 2005 Dialogue on Illegal Logging held in Hong Kong, entitled, "Practical Actions to Combat Illegal Logging: A summary of a multi-stakeholder dialogue on best practice for business and civil society." The publication includes brief summaries of all dialogue presentations, including a presentation by Melissa Brown ED of ASrIA on 'Legal Wood: Links to the Asian Investment Community', as well as summaries of key issues raised by participants, and action steps for moving forward together.
http://www.asria.org/news/press/1137466044

7. SGX, FTSE GROUP AND YASAAR RESEARCH JOINTLY SIGN SHARIAH INDEX SERIES AGREEMENT
Singapore Exchange (SGX) in partnership with ASrIA member FTSE Group (FTSE) and Yasaar Research recently signed a Shariah Index Series agreement. The tripartite agreement allows for the development of a series of Shariah-compliant indices under the FTSE SGX Shariah Index Series.
http://www.asria.org/news/press/1137466669

8. ACCA HONG KONG AWARDS FOR SUSTAINABILITY REPORTING 2005
ASrIA is an official endorser of the ACCA Hong Kong Sustainability Reporting Awards (HKSRA) 2005. The deadline for entry of submissions is February 10, 2006 with the Awards ceremony in May.
http://www.asria.org/news/press/1137385034

9. CNOOC AND INVESTOR ADVOCACY IN HONG KONG
In a move subsequently rejected by shareholders, CNOOC Ltd, China's leading offshore oil company, sought minority shareholders' approval to amend its parent's non-compete undertaking, which currently gives CNOOC an exclusive right to participate in production sharing contracts on discoveries made by foreign partners. Webb-site.com drew attention to this as a value-destroying proposal in a recent report. This provides a useful example of how Asian relevant CG issues can be raised to public, media and investor attention.
http://www.asria.org/news/press/1137467149

10. FINANCIAL EDUCATION — THE LAUNCH OF FINEDX AND THE FINEDX NEWSLETTER
FinEdx announces the release of the very first FinEdx Newsletter, providing teaching, resource, and community information to financial educators around the Asia Pacific Region.
http://www.asria.org/news/press/1137467514

11. ASrIA PUBLICATION, AN SRI PERSPECTIVE ON THE IMPACTT OVERTIME PROJECT
Supply chain labour problems have emerged as a key risk factor for China-based companies and global companies which rely on Chinese suppliers. Chinese and Japanese versions of the Impactt report summary are freely available on the ASrIA website. The Japanese translation was sponsored by ASrIA member Daiwa Securities.
http://www.asria.org/publications#impactt

12. ASrIA AGM
Tessa Tennant stepped down as the Executive Chair of ASrIA at the ASrIA AGM on November 8th and became the non-executive Chair. Robert Sherriff, one of the founding board members, has become the Vice-Chair of ASrIA, and Julie Craddock has taken on Robert's previous role of Treasurer.
http://www.asria.org/news/press/1133929655

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Best wishes for the New Year and the upcoming Chinese New Year of the Dog from the ASrIA Team. Strong signs have emerged in the last year that SRI criteria are being adopted globally by a wide range of investors and investment institutions. Furthermore a new acronym ESG, or environmental, social and governance, is being increasingly adopted by the finance industry. Here in Asia there are promising signs that investors and financial institutions are starting to integrate ESG criteria in a more focused way into investment decision making and it is likely that we will see the launch of more SRI and/or ESG related financial products onto the market. A first sign of this is the investment management opportunity offered to Asian emerging markets investors by EAPF Emerging Markets Pension Fund (Asian News 2) and the launch of a €70m public-private SRI fund by the Danes which will invest in developing countries such as Vietnam (Global News 1). Events such as the FT Sustainability Banking Awards 2006 (Asian News 1) as well as an ever increasing number of conferences aimed at the finance industry are also raising the profile of these issues among financial institutions in the region. Upcoming conferences of note which ASrIA is also supporting or engaged in include: Ethical Corporation's 3rd conference on how to manage corporate responsibility in Asia, Hong Kong, February (Conferences News 10) The Asian Bankers Summit, Bangkok, March (Conferences News 8) The Renewable Energy Finance Forum, Beijing, March (Conferences News 6) The Asia Pacific Pension & Investment Funds Summit, Thailand, April (Conferences News 4) The TBLI Conference Asia, Bangkok, May (Conferences News 3) The Investor Asset Allocation event, Japan, May (Conferences News 2) The 2nd Annual China Power & Alternative Energy Summit 2006, Beijing,June (Conferences News 1) ASrIA Chair Tessa Tennant will be a judge at the Banking Awards event and ASrIA will be moderating a panel at the Ethical Corporation event in February and running a panel at the TBLI event in May. It is notable that TBLI's annual conference in Europe is the biggest SRI focused event globally. Another related conference is the Islamic Finance Singapore 2006 conference (Conferences News 12), and it is also notable that SGX, FTSE group and Yasaar research have jointly sign an agreement to launch a Shariah index in Singapore (Asian News 7).
IN THIS ISSUE:
Asian SRI News & Activities Global SRI News & Activities Conferences & Events
ASIAN SRI NEWS & ACTIVITIES
FT Sustainability Banking Awards 2006 — opportunity for Asian banks EAPF emerging markets mandate: an opportunity for emerging markets fund managers GRI stakeholder council rotation of members SRI up 70% to AU$7.67 billion in Australia Protecting overseas workers — a Verité report Dialogue on illegal logging published SGX, FTSE group and Yasaar research jointly sign Shariah index series agreement ACCA Hong Kong Awards for Sustainability Reporting 2005 CNOOC and investor advocacy in Hong Kong Financial education — the launch of FinEdx and the FinEdx newsletter ASrIA publication, an SRI perspective on the Impactt overtime project ASrIA AGM
GLOBAL SRI NEWS & ACTIVITIES
Danes launch €70m public-private SRI fund Norway petroleum fund pursues ethical investment Winners announced in annual environmental finance magazine market survey UN reports on finance, institutional investment and capital markets point to future sustainability business worth USD trillions Fiduciary duty redefined to allow (and sometimes require) ESG considerations Only 9% of UK companies are aware that their environmental reporting obligations continue despite the OFR being abandoned Conservation economy net pattern map
CONFERENCES & EVENTS
The 2nd Annual China Power & Alternative Energy Summit 2006 Investor Asset Allocation, Japan 2006 TBLI Asia Conference Bangkok 2006 Asia Pacific Pension & Investment Funds Summit 2nd International Solar Cities Congress Renewable Energy Finance Forum, China Globe 2006 Trade Fair The Asian Bankers Summit 2006 Corporate Social Responsibility Forum 2006 Ethical Corporation's 3rd Asia conference focusing on how to manage corporate responsibility in Asia Global Corporate Social Responsibility Forum, China Islamic Finance Singapore 2006 Responsibly made in China? Chinese Development & Corporate Social Responsibility (CSR) CSRI conference: Reward, Risk and Reputation, in NZ ASrIA conference: Supply Chain Risks and Opportunities in Asia ASrIA briefing: Oikocredit — Microfinance Investment Opportunities and Best Practice in Asia ASrIA briefing: Leveraging the Triple Bottom Line — Investing in the Stewardship of China's Heritage
	ASIAN SRI NEWS & ACTIVITIES
	1. FT SUSTAINABILITY BANKING AWARDS 2006 — OPPORTUNITY FOR ASIAN BANKS The Financial Times announced on November 21, 2005 the launch of the first global awards dedicated to recognising banks that have actively integrated social and environmental objectives into their operations, while still maximising financial gain for their shareholders. ASrIA Chair, Tessa Tennant will be one of the judges of the Awards. http://www.asria.org/news/press/1134011412 2. EAPF EMERGING MARKETS MANDATE: AN OPPORTUNITY FOR EMERGING MARKETS FUND MANAGERS The £1bn Environment Agency Pension Fund is expected to shortly announce a tender for a 3 year emerging market mandate. The amount will be £50m with a 3% above benchmark target. The capacity of fund managers to understand how environment and sustainability impacts on investment will form part of the assessment of tenders. Thus any professional emerging market fund managers with expertise and understanding of environment issues are particularly encouraged to respond. http://www.asria.org/news/press/1135134442 3. GRI STAKEHOLDER COUNCIL ROTATION OF MEMBERS The GRI Stakeholder Council is holding its first rotation of membership and a number of seats are opening up on the Council. A process has been initiated to solicit nominations for new members until January 31 and candidates from Asia would be particularly welcome. http://www.asria.org/news/press/1137465694 4. SRI UP 70% TO AU$7.67 BILLION IN AUSTRALIA The Ethical Investment Association (EIA) 5th Annual Benchmarking Survey has revealed that sustainable responsible investment (SRI) funds under management in Australia grew from $4.5 billion to $7.67 billion in the year to June 30, 2005, with wholesale portfolios representing 64.2% ($4.92 billion) of this amount. Over the last twelve months total SRI assets have grown at a rate of 70%, while cumulatively over the last five years they have increased by 2360%. http://www.asria.org/news/press/1131337747 5. PROTECTING OVERSEAS WORKERS — A VERITÉ REPORT Verité's s research report finds a pattern of worker exploitation among migrant contract workers in Asia and the Middle East. Based on interviews with 600 foreign contract workers from Indonesia, the Philippines, Thailand and Vietnam, the report suggests that illegal and exploitative fees can take as much as one-third of the wages that workers expect to make over the life of their contracts. Unexpected in-country charges like 'runaway insurance' further constrain workers' ability to escape poverty. http://www.asria.org/news/press/1134636330 6. DIALOGUE ON ILLEGAL LOGGING PUBLISHED The Forests Dialogue recently published a summary of its March 7-10, 2005 Dialogue on Illegal Logging held in Hong Kong, entitled, "Practical Actions to Combat Illegal Logging: A summary of a multi-stakeholder dialogue on best practice for business and civil society." The publication includes brief summaries of all dialogue presentations, including a presentation by Melissa Brown ED of ASrIA on 'Legal Wood: Links to the Asian Investment Community', as well as summaries of key issues raised by participants, and action steps for moving forward together. http://www.asria.org/news/press/1137466044 7. SGX, FTSE GROUP AND YASAAR RESEARCH JOINTLY SIGN SHARIAH INDEX SERIES AGREEMENT Singapore Exchange (SGX) in partnership with ASrIA member FTSE Group (FTSE) and Yasaar Research recently signed a Shariah Index Series agreement. The tripartite agreement allows for the development of a series of Shariah-compliant indices under the FTSE SGX Shariah Index Series. http://www.asria.org/news/press/1137466669 8. ACCA HONG KONG AWARDS FOR SUSTAINABILITY REPORTING 2005 ASrIA is an official endorser of the ACCA Hong Kong Sustainability Reporting Awards (HKSRA) 2005. The deadline for entry of submissions is February 10, 2006 with the Awards ceremony in May. http://www.asria.org/news/press/1137385034 9. CNOOC AND INVESTOR ADVOCACY IN HONG KONG In a move subsequently rejected by shareholders, CNOOC Ltd, China's leading offshore oil company, sought minority shareholders' approval to amend its parent's non-compete undertaking, which currently gives CNOOC an exclusive right to participate in production sharing contracts on discoveries made by foreign partners. Webb-site.com drew attention to this as a value-destroying proposal in a recent report. This provides a useful example of how Asian relevant CG issues can be raised to public, media and investor attention. http://www.asria.org/news/press/1137467149 10. FINANCIAL EDUCATION — THE LAUNCH OF FINEDX AND THE FINEDX NEWSLETTER FinEdx announces the release of the very first FinEdx Newsletter, providing teaching, resource, and community information to financial educators around the Asia Pacific Region. http://www.asria.org/news/press/1137467514 11. ASrIA PUBLICATION, AN SRI PERSPECTIVE ON THE IMPACTT OVERTIME PROJECT Supply chain labour problems have emerged as a key risk factor for China-based companies and global companies which rely on Chinese suppliers. Chinese and Japanese versions of the Impactt report summary are freely available on the ASrIA website. The Japanese translation was sponsored by ASrIA member Daiwa Securities. http://www.asria.org/publications#impactt 12. ASrIA AGM Tessa Tennant stepped down as the Executive Chair of ASrIA at the ASrIA AGM on November 8th and became the non-executive Chair. Robert Sherriff, one of the founding board members, has become the Vice-Chair of ASrIA, and Julie Craddock has taken on Robert's previous role of Treasurer. http://www.asria.org/news/press/1133929655 Back to Index
	GLOBAL SRI NEWS & ACTIVITIES
	1. DANES LAUNCH €70M PUBLIC-PRIVATE SRI FUND Nine Danish pension funds are to invest some €63m in non-listed companies in less developed countries in a public-private initiative under which the Danish government will share many of the preparatory costs. http://www.asria.org/news/press/1130812645 2. NORWAY PETROLEUM FUND PURSUES ETHICAL INVESTMENT A committee set up by the government spent months last year drafting a set of rules to try to ensure "moral" investment of petrodollars. With relatively small holdings in approximately 3200 companies the fund managers are focusing on how to most effectively communicate their mandate and press ESG issues to their investees. http://www.asria.org/news/press/1137378951 3. WINNERS ANNOUNCED IN ANNUAL ENVIRONMENTAL FINANCE MAGAZINE MARKET SURVEY The launch of the EU Emissions Trading Scheme this year has brought the reality of reducing carbon emissions to more than 4,000 companies across Europe and, more importantly, has put a financial value on emissions reductions. This year has seen environmental markets enter the mainstream, as evidenced by the major investment banks which won categories in the survey. http://www.asria.org/news/press/1135921133 4. UN REPORTS ON FINANCE, INSTITUTIONAL INVESTMENT AND CAPITAL MARKETS POINT TO FUTURE SUSTAINABILITY BUSINESS WORTH USD TRILLIONS A powerful alignment of legal, financial and investment interests will see USD trillions directed in the next decade to evolving markets linked to climate change, clean technology and sustainable use of natural resources, a report being prepared for the UN predicts. "The Working Capital Report", to be published for the first time in March 2006 by the United Nations Environment Programme Finance Initiative (UNEP FI), is the culmination of a series of landmark studies undertaken during 2004-5. http://www.asria.org/news/press/1133764052 5. FIDUCIARY DUTY REDEFINED TO ALLOW (AND SOMETIMES REQUIRE) ESG CONSIDERATIONS A report commissioned by UNEP FI dispels the persistent myth that laws prevent fiduciaries from considering environmental, social, and governance (ESG) issues. The longstanding conventional wisdom that fiduciary duty precludes ESG considerations in institutional investment decisions was overturned by a report released at the UNEP FI Global Roundtable, entitled "A Legal Framework For The Integration Of Environmental, Social And Governance Issues Into Institutional Investment". Within Asia the report provides analysis of the situation in Japan and Australia. http://www.asria.org/news/press/1131423563 6. ONLY 9% OF UK COMPANIES ARE AWARE THAT THEIR ENVIRONMENTAL REPORTING OBLIGATIONS CONTINUE DESPITE THE OFR BEING ABANDONED Despite the Government recently abandoning the OFR, many companies in the UK and throughout the EU will still need to meet broadly similar environmental reporting requirements under the EU Accounts Modernisation Directive (AMD). http://www.asria.org/news/press/1134375201 7. CONSERVATION ECONOMY NET PATTERN MAP An interesting link to an interactive map displaying the distinctions between social capital, natural capital and economic capital. http://www.conservationeconomy.net/PATTERN_MAP/flash/index.htm Back to Index
	CONFERENCES & EVENTS
	1. THE 2ND ANNUAL CHINA POWER & ALTERNATIVE ENERGY SUMMIT 2006 Beijing, China, June 8-9 2006: The conference builds on the 2005 inaugural China Power & Alternative Energy Summit which attracted about 300 participants. The conference will aim to deliver valuable insights and practical techniques for China's power sector. ASrIA is an Official Partner of the Event and ASrIA members can get a 20% fee discount. http://www.asria.org/news/events/1137036082 2. INVESTOR ASSET ALLOCATION JAPAN 2006 Tokyo, Japan, May 29-31, 2006: This event aims to educate investors and fund managers in the best practice principals of using asset allocation strategies to achieve superior returns and reduce volatility. The event focuses on providing the most cutting edge and up-to-the-moment intelligence and information in Japan — to equip investors to make the best possible asset allocation strategy decisions. ASrIA is an official Endorser of the event and Melissa Brown, ASrIA Executive Director will be one of the speakers. ASrIA Members are entitled to 15% discount off the delegate price. http://www.asria.org/news/events/1136531767 3. TBLI ASIA CONFERENCE BANGKOK 2006 Bangkok, Thailand, May 25-26, 2006: Brooklyn Bridge is currently accepting proposals for presenters at the 2006 TBLI Asia Conference. TBLI organizes the largest regular global event on Socially Responsible Investment each year in Europe. http://www.asria.org/news/press/1137552031 4. ASIA PACIFIC PENSION & INVESTMENT FUNDS SUMMIT Phuket, Thailand, April 26-28 2006: The Pension Funds Summit aims to bring together senior level pension and investment executives from leading Asian organisations with senior pension providers. ASrIA is one of the Endorsers of the event. http://www.asria.org/news/events/1137653219 5. 2ND INTERNATIONAL SOLAR CITIES CONGRESS Oxford, United Kingdom, April 3-6, 2006: It is the follow-up congress after the first event two years ago in Daegu, South Korea. There will be delegates and speakers from several Asia Universities and businesses addressing the Congress. http://www.asria.org/news/events/1137379949 6. RENEWABLE ENERGY FINANCE FORUM, CHINA Beijing, China, Kerry Centre Hotel, March 30-31, 2006: the emergence of the renewable energy market in China will require an overall investment of approximately $200 billion by 2020, creating tremendous opportunities as well as challenges for international and domestic investors, developers, financiers and manufacturers. ASrIA is a supporter of Euromoney's event, which will include inputs from 40+ international and Chinese energy and investment experts. ASrIA Members can get 10% off the ticket price. http://www.asria.org/news/events/1136774248 7. GLOBE 2006 TRADE FAIR Vancouver, Canada, March 29-31, 2006: Business leaders, policy makers, and solutions providers from around the world will come together at GLOBE 2006 to discuss the most recent developments in the business of the environment and find innovative solutions to global environmental challenges. http://www.asria.org/news/events/1101713021 8. THE ASIAN BANKER SUMMIT 2006 Bangkok, Thailand, March 15-17, 2006: Unlocking the value of the institution in a global marketplace. The Asian Banker Summit will feature a one-day town hall forum for CEOs and board members of leading banks in the Asia Pacific region, followed by two days of conferences on three of the most important areas driving the industry today. ASrIA is a Supporting Organisation. http://www.asria.org/news/events/1137574398 9. CORPORATE SOCIAL RESPONSIBILITY FORUM 2006 Sydney, Australia, March 2-3, 2006: The themes are communicating, auditing and reporting CSR, entrepreneurship, lifelong learning / employability. This interactive two day event will address strategic issues confronting organisations dealing with the latest developments and challenge. http://csrwire.com/asria/press_releases/article.cgi/4643.html 10. ETHICAL CORPORATION'S 3RD ASIA CONFERENCE FOCUSING ON HOW TO MANAGE CORPORATE RESPONSIBILITY IN ASIA Hong Kong, February 22-23, 2006: Ethical Corporation's 3rd Asia conference is focusing on how to manage corporate responsibility in Asia. ASrIA is one of the Supporting Partners of the event. http://www.asria.org/news/events/1132726288 11. GLOBAL CORPORATE SOCIAL RESPONSIBILITY FORUM, CHINA Beijing, China, February 22, 2006: the Global Corporate Social Responsibility Forum — Global Responsibility, Harmonious Society, is co-organised by the Chinese Embassy, China News Agency and China Newsweek. ASrIA will participate in a forum on 'the Opportunity of Social Responsible Investment in China.' http://www.asria.org/news/events/1137999486 12. ISLAMIC FINANCE SINGAPORE 2006 Singapore, February 21-22, 2006: The aim of this event, which is supported by the Singapore Government is to establish Singapore as an Islamic financial hub and to evaluate where the best opportunities lie for conventional banks and finance companies to enter this growing market. ASrIA is an Endorser of this event. http://www.asria.org/news/events/1137551011 13. RESPONSIBLY MADE IN CHINA? CHINESE DEVELOPMENT & CORPORATE SOCIAL RESPONSIBILITY (CSR) Copenhagen Business School (CBS), Denmark, January 26-27, 2006: This is a conference bringing together CSR experts and scholars focusing on China's internal developments and integration with the global economy. http://www.asria.org/news/events/1131424000 14. CSRI CONFERENCE: REWARD, RISK AND REPUTATION, IN NZ New Zealand, December 2, 2005: A Summary of the conference, with selected presentations and the report 'Rethinking the Investment Role of Crown Financial Institutions in New Zealand's Growth' is available. http://www.asria.org/news/press/1134975357 15. ASrIA CONFERENCE: SUPPLY CHAIN RISKS AND OPPORTUNITIES IN ASIA Tokyo, Japan, November 10, 2005: ASrIA partnered with Keizai Doyukai, Japan's leading association of business leaders, to present a very well attended conference on supply chain risks and opportunities in Asia. The conference was sponsored by ASrIA member Daiwa Securities Group. Guest speakers included Dr. Stephen Frost of CSR Asia and Dr. Liu Kaiming of the Institute of Contemporary Observation in Shenzhen, China. Parallel events included round-table meetings with the Keizai Doyukai CSR Committee, with the Keidanren CSR committee and with the Caux Round Table. http://www.asria.org/conf05 16. ASrIA BRIEFING: OIKOCREDIT — MICROFINANCE INVESTMENT OPPORTUNITIES AND BEST PRACTICE IN ASIA Ben Simmes, Oikocredit's Director Membership and Investments led a discussion on microfinance. This briefing covered current best practice in microfinance and the potential of microfinance from an investment perspective. The presentation and CSFB's introduction to microfinance are also available for download. http://www.asria.org/events/hongkong/05nov 17. ASrIA BRIEFING: LEVERAGING THE TRIPLE BOTTOM LINE — INVESTING IN THE STEWARDSHIP OF CHINA'S HERITAGE Marc Brody, President and founder of the U.S.-China Environmental Fund (USCEF) discussed how political and economic reforms has created green investment and CSR opportunities in China's national parks and nature reserves. With thanks to Rabobank International Hong Kong for organizing the location. http://www.asria.org/events/hongkong/05oct Back to Index
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	ASrIA E-Bulletin January 23, 2006 The Association for Sustainable & Responsible Investment in Asia