做緊ESG相關工作，你問我答

點解咁講

你點睇做green bond 個d?

Sustainable finance可以點入行

應該好伏
人地ibank, MBB consultant果啲50k-100k會唔會唔方便講

咁巴閉仲要networking先做得, 但又唔講得人工average

見好多人都係問緊點入職同幾錢，咁我講多少少 “工種” 問題。呢個post似乎已經引起行家留意，如有自身經驗分享，無任歡迎。

我係咁樣睇今日嘅行業生態：“ESG”今日上到檯面，其實係西方資本幾年間極大力吹捧嘅結果。其理論為：企業要創造長遠價值，就要清楚分析到有咩非財務因素會長期影響到佢地，加以管理。所以今天企業必須要表現出穩健嘅ESG表現，先會過到一條合格線。

以下係生態係入面嘅各種角色
企業
被投資對象，對世界產生直接影響嘅主體。大企業會有“可持續發展”部，負責管理ESG表現。最高可以做到Chief Sustainability Officer, Sustainability Director之類，不過香港公司純ESG 又做Director應該不出10人。除非老闆好知道你個部門做緊乜，否則in house升職機會係好有限，通常都係轉工升職。

ESG分析師
投資機構同評級機構請。我自己未做過，聽據聞幾好pay。投資機構大間少少幾乎都需要呢個skill set, 因為間間都有ESG Policy, 要向背後班投資者負責，要有條友up得出間公司響ESG因素下嘅前景，仲要將ESG概念普及化。

顧問
Consultant都好多種，響今日嘅生態系之下，企業嘅需求係五花百門，ESG Report其實真係好低層次。
我想強調，ESG顧問其實應該係Management consultant黎。真正嘅顧問工作係要有一個current state, desire state, gap analysis同recommendation 嘅過程，需要個市場未成熟到下下都要呢類service。
地產同金融業嘅ESG比較特別，地產方面要好多識工程嘅人研究Green buulding。金融就要有本身好銀行運作嘅人做建立green finance框架、做climate risk stress test 之類。

Solution provider
通常係指搞咗個product出黎賣，譬如ESG軟件、各種Sensor、節能科技、database、指數服務、whistleblowing platform、氣候變化模型、等等等等等

認證機構
認證對於企業同投資者都好重要。以前通常係指認證份ESG report, 今日就會需要認證green bond之類

監管機構
港交所、金管局、證監會。新手免問
留意其實係冇所謂ESG 學位，大家都係做做下接觸ESG, 學識咗再去監管市場。

NGO
有d NGO呢期專注推動商界實踐ESG, 例如地球之友、WWF、WGO。

講住咁多先，諗到繼續寫

睇公司value邊面多d, 如果注定係Zero sum
維他奶呢d係無解

有無睇過Jeff Goodell嘅The water will come? 商學院讀ESG成日有人提呢本書

我自己見in house見唔少但係未成功過。（我依家份工係有少少因緣）總結失敗經驗，我覺得佢地比較重視你有冇做過同行。

其實esg都係鬥9up
搵下啲service provider verify 下啲carbon emission rate 呀之類
達到標就吹到好撚環保咁
利申: consultant, 有幫大型藍籌吹嘅成儂esg session

同意，根本股權咁集中，又咁多冇實業嘅公司，WFC

即係地產商配返地產商

need to deal with buy side analyst?
do they ask u anything meaningful or just box ticking exercise?

many buy sides rely on msci esg, sustainalytics, eiris etc but they are absolutely awful

What buy side analyst do other than relying on rating agencies

Consultant 係咪幫間公司寫report 同搞好d個profile ?
Btw你個名

dont have a choice sometime, esp if you want to disclose the average rating of thr fund to clients then u have to use a third party rating rather than internal.

also esg doesn't generate much alpha, not many wanna waste the time on it

類似本身執operational 嘅嘢 近幾年輕ESG 個個客都話幫手吹下咁 打下飛機
Main board listing rule 有 recommended best practice 去加多esg detail 所以班友沖住寫扮好透明咁
但我做過得幾間大藍籌係真係有dum大類錢去invest 落個esg model到 其他都係hea 99 求其pass到幾個rate 同有啲濕9 policy就吹到自己好勁
不過講真 成本annual report 都係吹水成分多
盤數都係假啦

幫呢d公司出esg report簡直係正宗bullshit jobs比audit更多鳩餘不過應該幾好做又好搵

一般都係得大公司真係會出錢搞我諗

I see, what rating agencies do you guys prefer or it doesn’t matter

外國客就真係多 真係文化問題

香港都係實際為主 老闆覺得呢啲冇用掛

cant help it...many foreign investors need to green wash their funds, so they force companies to do some green washing as well. everyone happy

識beam啲嘢有冇用

seriously, one hk property firm is doing so much on esg, not just on annual report but their products as well.

not going into detail but some companies in hk do have management discount in valuation...