With more than 13,000 professionals comprised in 58 countries, Calyon specialises in the businesses of capital markets and investment and corporate banking.
CA Cheuvreux, a pioneer in socially responsible research
CA Cheuvreux is the first brokerage firm to have signed the Principles for Responsible Investment. In 2005, Calyon's equity brokerage and research subsidiary introduced a social responsibility dimension into its European financial research. By endowing itself with the resources to take into account a range of extra-financial aspects, it has strengthened the level of discipline and responsibility in its research.
A pioneer in sustainable investment
Ever since 2005, CA Cheuvreux has made SRI (Socially Responsible Investment) research part and parcel of its “traditional” financial analysis. All analysts are responsible for identifying SRI-related problems and challenges for each company and sector they follow. This extra-financial analysis produces security valuations that take into account aspects other than financial (in social, environmental and governance areas).
CA Cheuvreux’ positioning as a pioneer in this area has won it accolades on numerous occasions:
- Chosen in 2007 by the Institutional Investors Group on Climate Change (IIGCC) as a research partner on the Carbon Climate initiative,
- Thomson Extel / Agefi’s first prize for French SRI research in late 2007,
- Among the top three in Thomson Extel’s most recent Europe-wide SRI research rankings
- Farsight Award for best long-term economic and financial research, given by Gresham College (U.K. equivalent of the Collège de France) in January 2008.
True to its pioneering spirit, leading European equity broker CA Cheuvreux was the first broker to sign the Principles for Responsible Investment (PRI), a joint initiative of the United Nations and investors under the aegis of the United Nations Environment Program Finance Initiative (UNEP FI) and the Global Compact. The UN’s PRI provide a framework to integrate environmental, social and corporate governance questions (ESG) into investment decisions.
Cheuvreux’ research is regularly recognized for its quality and its independence. Over 100 analysts in seven European countries cover nearly 800 companies. It is organized by country and by sector in order to offer its institutional clients both local and Europe-wide views of investment opportunities.
Innovative research
- Environmental and Social Research: environmental and social performance analysis of more than 700 European companies in all sectors. The objective is to identify and evaluate the environmental and social questions that are likeliest to influence stock prices and have a potential impact on CA Cheuvreux’ valuation and opinion.
- Carbon Research: analysis of the global application of a carbon constraint with the goal of decreasing and adapting to climate change. It provides a method for evaluating economic change and the financial impact on all relevant European sectors and companies.
- Corporate Governance research: analysis of more than 700 corporate boards, as well as governance structures and performance of European companies. This analysis enables potential risks and opportunities for investors to be identified.
- Green Tech Research: this is the new official name for the "Sustainable Tech" product. Green Tech Research monitors a sample of 160 eligible European companies (of which the Cheuvreux team covers 80% in terms of market capitalization) whose technologies, products and services best correspond to major environmental imperatives at the global level.
Global outreach
CA Cheuvreux disseminates information about SRI research via two main communication tools: publications and conferences.
Regular thematic publications in a variety of formats
- Themed research reports present exhaustive analyses on important decision factors and trends in sustainable development within individual sectors.
- Weekly SRI notes, which may be thematic or focused on particular stocks, give insight into recent SRI developments and cover company news (especially initial public offerings).
- Daily SRI flashes, “Sustainability Flashes” and “Corporate Governance Flashes” analyze company news from these two particular angles.
- Cheuvreux’ Carbon research is one of the most exhaustive such products in Europe. It is highly sought-after by investors, particularly “Carbon Focus”. An educational report is issued on the functioning of the carbon market. “Carbon Impact” offers evaluation of carbon impact in seven sectors and on 28 stocks (electric power generation, energy, fuel, cement, oil, refineries and paper).
Conferences on major issues
All through the year, CA Cheuvreux organizes conferences and panel discussions on the major questions with participation by companies, experts and other involved parties. These meetings provide the opportunity for individual, face-to-face contact with French and European company executives.