transition to gics basic facts & industry mapping€¦ · • gics transition basic facts ......

Transition to GICS Basic Facts & Industry Mapping February 2013

Content of Presentation

• GICS Transition Basic Facts 3

• Overview of RobecoSAM GICS Structure 7

• Mapping per Sector: RobecoSAM ICB RobecoSAM GICS 10

• FAQ 74

GICS Transition Basic Facts I

3

10 sectors

24 industry groups

68 industries

154 sub-industries

into which all major public companies have been classified (see GICS methodology as well as GICS maps)

The industry taxonomy for the annual RobecoSAM Corporate Sustainability Assessment (CSA) and thus for the DJSI is being aligned with RobecoSAM’s partner S&P Dow Jones Indices and will be based on GICS going forward. What is GICS? GICS stands for Global Industry Classification Standard and is an industry taxonomy developed by MSCI and S&P for the global financial community. According to its creators, GICS was developed “in response to the global financial community’s need for one complete, consistent set of global sector and industry definitions, thereby enabling asset owners, asset managers and investment research specialists to make seamless company, sector and industry comparisons across countries, regions, and globally.”

It consists of:

http://us.spindices.com/documents/index-policies/methodology-gics.pdf?force_download=true

http://us.spindices.com/search/?ContentType=GICSMaps

4 2/6/2013 RobecoSAM

GICS Transition Basic Facts II

• The RobecoSAM GICS industries will be derived from the standard GICS classification and will determine in which peer group and according to which questionnaire companies are assessed.

• RobecoSAM GICS will be less granular than GICS and concentrate on the industry group and industry level (as highlighted in green).

• The 59 RobecoSAM GICS industries are the result of combining sets of the 154 sub-industries into industry clusters that face similar sustainability challenges.

10 sectors

68 industries

154 sub-industries

24 industry groups

154 sub-industries

59 RobecoSAM industries


GICS Transition Basic Facts III

This means….

• During 2013 we are implementing the following changes:

RobecoSAM ICB

19 supersectors

58 sectors

58 questionnaires

RobecoSAM GICS

24 industry groups

59 industries

59 questionnaires


GICS Transition Basic Facts IV

Benefits

• GICS was developed by the two largest index providers S&P Dow Jones Indices and MSCI and hence is widely used and recognised by both companies and the financial community.

• When classifying companies, GICS utilizes more determining variables than the Dow Jones Sector Classification, which is based on revenue streams only. In addition to revenue streams, earnings and market perception are also recognized as important and relevant information for classification purposes and are taken into account during the classification process.

• The lower granularity of RobecoSAM GICS will ensure the most accurate company to industry fit for the sustainability assessment purpose.


Overview of RobecoSAM GICS Structure

24 GICS Industry Groups 59 RobecoSAM GICS Industries

Automobiles & Components ATX Auto Components

AUT Automobiles

Banks BNK Banks

Capital Goods ARO Aerospace & Defense

BLD Building Products

CON Construction & Engineering

ELQ Electrical Components & Equipment

IDD Industrial Conglomerates

IEQ Machinery and Electrical Equipment

TCD Trading Companies & Distributors

Commercial & Professional Services ICS Commercial Services & Supplies

PRO Professional Services

Consumer Durables & Apparel DHP Household Durables

HOM Homebuilding

LEG Leisure Equipment & Products &

Consumer Electronics

TEX Textiles, Apparel & Luxury Goods

Consumer Services CNO Casinos & Gaming

CSV Diversified Consumer Services

REX Restaurants & Leisure Facilities

TRT Hotels, Resorts & Cruise Lines

Diversified Financials

FBN Diversified Financial Services and

Capital Markets

From this year on the 24 industry groups and 59 industries are structured as follows:




Energy COL Coal & Consumable Fuels

OIE Energy Equipment & Services

OIX Oil & Gas

PIP Oil & Gas Storage & Transportation

Food & Staples Retailing FDR Food & Staples Retailing

Food, Beverage & Tobacco BVG Beverages

FOA Food Products

TOB Tobacco

Health Care Equipment & Services HEA Health Care Providers & Services

MTC Health Care Equipment & Supplies

Household & Personal Products COS Personal Products

HOU Household Products

Insurance INS Insurance

Materials ALU Aluminum

CHM Chemicals

COM Construction Materials

CTR Containers & Packaging

FRP Paper & Forest Products

MNX Metals & Mining

STL Steel

Media PUB Media




Pharmaceuticals, Biotechnology & Life

Sciences BTC Biotechnology

DRG Pharmaceuticals

LIF Life Sciences Tools & Services

Real Estate REA Real Estate

Retailing RTS Retailing

Semiconductors & Semiconductor

Equipment

SEM Semiconductors & Semiconductor

Equipment

Software & Services SOF Software

TSV IT Services & Internet Software &

Services

Technology Hardware & Equipment CMT Communications Equipment

ITC Electronic Equipment, Instruments &

Components

THQ Computers & Peripherals & Office

Electronics

Telecommunication Services TLS Telecommunication Services

Transportation AIR Airlines

TRA Transportation and Transportation

Infrastructure

Utilities ELC Electric Utilities

GAS Gas Utilities

MUW Multi & Water Utilities


Former AIR Airlines Sector

Translates to AIR Airlines Industry

Part of Transportation Industry Group Applicable Questionnaire: AIR

AIR Airlines

AIR

AIR Airlines

AIR

Tra

vel &

Leis

ure

Tra

nsport

ation

INDUSTRY DESCRIPTION S&P Companies providing primarily passenger air transportation.

Change Status: New Industry Group

2012 2013


Former ALT Alternative Energy Sector

DELETED

DELETED Applicable Questionnaire: NONE

ALT Alternative Energy

ALT

DELETED

Oil &

Gas

DELETION RATIONALE: The Alternative Energy Sector, which included producers of industrial equipment earmarked for alternative energy generation such as windmills or solar panels, does not exist in the GICS classification and is hence deleted.

Change Status: DELETED

Former ALT companies move to e.g. ELC, CON, IEQ, SEM,…

2012 2013


Former ALU Aluminum Sector

Translates to ALU Aluminum Industry

Part of Materials Industry Group Applicable Questionnaire: ALU

ALU Aluminum

ALU

ALU Aluminum

ALU

Basic

Resourc

es

Mate

rials

INDUSTRY DESCRIPTION S&P Producers of aluminum and related products, including companies that mine or process bauxite, and companies that recycle aluminum to produce finished or semi-finished products. Excluded are companies that primarily produce aluminum building materials (classified under BLD).


2012 2013


Former ARO Aerospace & Defense Sector

Translates to ARO Aerospace & Defense Industry

Part of Capital Goods Industry Group Applicable Questionnaire: ARO

ARO Aerospace & Defense

ARO

ARO Aerospace & Defense

ARO

Industr

ial G

oods

& S

erv

ices

Capital G

oods

INDUSTRY DESCRIPTION S&P

Manufacturers of civil or military aerospace and defense equipment, parts or products.

Change Status: Name Change of Industry Group

2012 2013


Former ATX Auto Parts & Tires Sector

Translates to ATX Auto Components Industry

Part of Automobiles & Components Industry Group

Applicable Questionnaire: ATX

ATX Auto Parts & Tires

ATX

ATX Auto Components

ATX

Auto

mobiles &

Part

s

Auto

mobiles

& C

om

ponents

INDUSTRY DESCRIPTION S&P Manufacturers of parts, accessories, tires and rubber for automobiles and motorcycles.

Change Status: Name Change of Industry & Industry Group

2012 2013


Former AUT Automobiles Sector

Translates to AUT Automobiles Industry

Part of Automobiles & Components Industry Group

Applicable Questionnaire: AUT

AUT Automobiles

AUT

AUT Automobiles

AUT

Auto

mobiles &

Part

s

Auto

mobiles

& C

om

ponents

INDUSTRY DESCRIPTION S&P Companies that mainly produce passenger automobiles and light trucks, as well as motorcycles, scooters or three-wheelers. Excluded are bicycles, which are classified under LEG, and heavy duty trucks classified as industrial machinery (IEQ). Change Status: Name Change of Industry Group

2012 2013


Former BLD Building Materials & Fixtures Sector (SPLIT)

Translates to BLD Building Products Industry

Part of Capital Goods Industry Group Applicable Questionnaire: BLD

BLD Building Materials & Fixtures

BLD


BLD


BLD

Constr

uction

& M

ate

rials

Capital

Goods

INDUSTRY DESCRIPTION S&P Manufacturers of building components, as well as home improvement products & equipment. It excludes lumber and plywood (FRP) as well as cement and other materials classified under construction materials (COM).

Mate

rials

Change Status: Name Change of Industry; New Industry Group

2012

2013


Former BLD Building Materials & Fixtures Sector (SPLIT)

Translates to COM Construction Materials Industry

Part of Materials Industry Group Applicable Questionnaire: BLD

BLD Building Materials & Fixtures

BLD


BLD


BLD

Constr

uction

& M

ate

rials

Capital

Goods

INDUSTRY DESCRIPTION S&P Manufacturers of construction materials including sand, clay, gypsum, lime, aggregates, cement, concrete and bricks. Other finished or semi-finished building materials are also classified as BLD.

Mate

rials

Change Status: New Industry & Industry Group

2012 2012 2013


Former BNK Banks Sector

Translates to BNK Banks Industry

Part of Banks Industry Group Applicable Questionnaire: BNK

BNK Bank

BNK

BNK Bank

BNK

Banks

Banks

INDUSTRY DESCRIPTION S&P Commercial global & regional banks whose businesses are derived primarily from commercial lending operations with significant business activity in retail banking, small and medium corporate lending. It also encompasses providers of mortgage and mortgage related services. Excluded are investment banks, which are classified under FBN.

Change Status: NONE

2012 2013


Former BTC Biotechnology Sector

Translates to BTC Biotechnology Industry

Part of Pharmaceuticals, Biotechnology & Life Sciences Industry Group

Applicable Questionnaire: BTC

BTC Biotechnology

BTC

BTC Biotechnology

BTC Healthcare

Pharm

aceuticals

, Bio

technolo

gy &

Life S

cie

nces

INDUSTRY DESCRIPTION S&P Companies primarily engaged in the research, development, manufacturing and/or marketing of products based on genetic analysis and genetic engineering. It includes companies specializing in protein-based therapeutics to treat human diseases.


2012 2013


Former BVG Beverages Sector

Translates to BVG Beverages Industry

Part of Food, Beverage & Tobacco Industry Group

Applicable Questionnaire: BVG

BVG Beverages

BVG

BVG Beverages

BVG

Food &

Bevera

ge

Food,

Bevera

ge

& T

obacco

INDUSTRY DESCRIPTION S&P Producers of beer and malt liquors, distillers, vintners and producers of other alcoholic beverages as well as producers of soft drinks, including mineral waters. Excluded are producers of milk, who are classified in the food producers industry (FOA).


2012 2013


Former CHM Chemicals Sector

Translates to CHM Chemicals Industry

Part of Materials Industry Group Applicable Questionnaire: CHM

CHM Chemicals

CHM

CHM Chemicals

CHM Chem

icals

Mate

rials

INDUSTRY DESCRIPTION S&P Companies that primarily produce industrial and basic chemicals, such as plastics, synthetic fibers, films, commodity-based paints & pigments, explosives and petrochemicals, diversified chemicals, fertilizers, pesticides, potash or other agriculture-related chemicals, industrial gases, as well as producers of specialty chemicals such as additives, advanced polymers, adhesives, sealants, specialty paints, pigments and coatings.


2012 2013


Former CMT Communications Technology Sector

Translates to CMT Communications Equipment Industry

Part of Technology Hardware & Equipment Industry Group

Applicable Questionnaire: CMT

CMT Communications Technology

CMT

CMT Communications Equipment

CMT Technolo

gy

Technolo

gy H

ard

ware

&

Equip

ment

INDUSTRY DESCRIPTION S&P Manufacturers of communication equipment and products, including LANs, WANs, routers, telephones, switchboards and exchanges.


2012 2013


Former CNO Gambling Sector

Translates to CNO Casinos & Gaming Industry

Part of Consumer Services Industry Group

Applicable Questionnaire: CNO

CNO Gambling

CNO

CNO Casinos & Gaming

CNO

Tra

vel &

Leis

ure

Consum

er

Serv

ices

INDUSTRY DESCRIPTION S&P Owners and operators of casinos and gaming facilities, including companies that provide lottery and betting services.


2012 2013


Former CON Heavy Construction Sector

Translates to CON Construction & Engineering Industry

Part of Capital Goods Industry Group

Applicable Questionnaire: CON

CON Heavy Construction

CON

CON Construction & Engineering

CON

Constr

uction

& M

ate

rials

Capital G

oods

INDUSTRY DESCRIPTION S&P Companies with a focus on non-residential construction. This includes civil engineering companies and large-scale contractors. Excluded are residential construction companies (HOM).


2012 2013


Former COS Personal Products Sector

Translates to COS Personal Products Industry

Part of Household & Personal Products Industry Group

Applicable Questionnaire: COS

COS Personal Products

COS

COS Personal Products

COS

Pers

onal &

Household

G

oods

Household

& P

ers

onal

Pro

ducts

INDUSTRY DESCRIPTION S&P Manufacturers of personal and beauty care products, such as cosmetics and perfumes.


2012 2013


Former CSV Specialized Consumer Services Sector

Translates to CSV Diversified Consumer Services Industry


Applicable Questionnaire: CSV

CSV Specialized Consumer Services

CSV

CSV Diversified Consumer Services

CSV

Reta

il

Consum

er

Serv

ices

INDUSTRY DESCRIPTION S&P Companies providing educational services such as private universities, correspondence teaching, educational seminars, educational materials and technical education, as well as providers of residential services, home security, legal services, personal services, renovation & interior design services, consumer auctions and wedding & funeral services. Excluded are companies providing human resources & employment services (PRO).


2012 2013


Former CTR Containers & Packaging Sector

Translates to CTR Containers & Packaging Industry

Part of Materials Industry Group Applicable Questionnaire: CTR


CTR


CTR

Industr

ial G

oods

& S

erv

ices

Mate

rials

INDUSTRY DESCRIPTION S&P Manufacturers of paper, cardboard, metal, glass or plastic containers as well as paper and cardboard packaging. Included here are also corks and caps producers.


2012 2013


Former CTS Mobile Telecommunications (MERGED)

Translates to TLS Telecommunication Services Industry

Part of Telecommunication Services Industry Group

Applicable Questionnaire: CTS

TLS Telecommunication

Services

CTS

CTS Mobile Telecommunications

CTS

FTS Fixed Line Communications

FTS Tele

com

munic

ation

Serv

ices

Tele

com

munic

ations

INDUSTRY DESCRIPTION S&P Providers of communications and high-density data transmission services through fixed-line telecommunication networks and/or high bandwidth/fiber-optic cable networks, as well as providers of cellular and wireless telecommunication services, including paging.

Change Status: New Industry; Name Change of Industry Group

2012 2013


Former DHP Durable Household Products Sector

Translates to DHP Household Durables Industry

Part of Consumer Durables & Apparel Industry Group

Applicable Questionnaire: DHP

DHP Durable Household Products

DHP

DHP Household Durables

DHP

Pers

onal &

Household

G

oods

Consum

er

Dura

ble

s

& A

ppare

l

INDUSTRY DESCRIPTION S&P Manufacturers of consumer electronics products including TVs, VCRs, hi-fi equipment, game consoles and related products; manufacturers of soft home furnishings or furniture, including upholstery, carpets and wall-coverings; and manufacturers of durable household products, such as cutlery, cookware, glassware, crystal, silverware, utensils and kitchenware.


2012 2013


Former DRG Pharmaceuticals Sector

Translates to DRG Pharmaceuticals Industry

Part of Pharmaceuticals, Biotechnology & Life Sciences Industry Group

Applicable Questionnaire: DRG

DRG Pharmaceuticals

DRG

DRG Pharmaceuticals

DRG Healthcare

Pharm

aceuticals

,

Bio

technolo

gy &

Life S

cie

nces

INDUSTRY DESCRIPTION S&P Companies engaged in the research, development or production of pharmaceuticals, including veterinary drugs.


2012 2013


Former ELC Electricity Sector (SPLIT)

Translates to ELC Electric Utilities Industry

Part of Utilities Industry Group Applicable Questionnaire: ELC

ELC Electricity

ELC

ELC Electric Utilities

ELC


ELC-WAT

Utilities

Utilities

INDUSTRY DESCRIPTION S&P Companies that produce electricity in both nuclear and non-nuclear facilities or distribute

electricity.

Utilities

Change Status: Name Change of Industry

2012 2013


Former ELC Electricity Sector (SPLIT)

Translates to MUW Multi & Water Utilities Industry

Part of Utilities Industry Group Applicable Questionnaire:

ELC & WAT (merged version)

ELC Electricity

ELC

ELC Electric Utilities

ELC


ELC-WAT

Utilities

Utilities

INDUSTRY DESCRIPTION S&P Water utility operations, as well as multi-utility companies with significantly diversified activities in addition to core electric utility or gas utility operations. Included are companies that purchase and redistribute water to the end-consumer as well as large-scale water treatment systems.

Utilities

Change Status: New Industry

2012

2013


Former ELQ Electric Components & Equipment Sector

Translates to ELQ Electric Components & Equipment Industry

Part of Capital Goods Industry Group Applicable Questionnaire: ELQ

ELQ Electric Components & Equipment

ELQ

ELQ Electric Components & Equipment

ELQ

Industr

ial G

oods

& S

erv

ices

Capital G

oods

INDUSTRY DESCRIPTION S&P Companies that produce electric cables and wires, electrical components or equipment not classified in the Machinery Sub-Industry (IEQ).


2012 2013


Former FBN Financial Services Sector

Translates to FBN Diversified Financial Services and Capital Markets Industry

Part of Diversified Financials Industry Group

Applicable Questionnaire: FBN

FBN Financial Services

FBN

FBN Diversified Financial Services

and Capital Markets

FBN

Fin

ancia

l Serv

ices

Div

ers

ifie

d F

inancia

ls

INDUSTRY DESCRIPTION S&P Multi-sector holding companies, credit agencies, stock exchanges and specialty boutiques, asset managers, custody banks, investment banking & brokerage; as well as providers of a diverse range of financial services including banking, insurance and capital markets, with no dominant business line and other diversified capital market companies not classified elsewhere. Excluded are pure banks (BNK), insurance companies (INS) as well as diversified companies classified in the Industrials Conglomerates Sub-Industry (IDD).


2012 2013


Former FDR Food & Drug Retailers Sector

Translates to FDR Food & Staples Retailing Industry

Part of Food & Staples Retailing Industry Group

Applicable Questionnaire: FDR

FDR Food & Drug Retailers

FDR

FDR Food & Staples Retailing

FDR

Reta

il

Food &

Sta

ple

s

Reta

ilin

g

INDUSTRY DESCRIPTION S&P Owners and operators of drug and food retailing stores, pharmacies, hypermarkets and super centers selling food and a wide-range of consumer staple products; as well as wholesale food distributors.


2012 2013


Former FOA Food Producers Sector

Translates to FOA Food Products Industry


Applicable Questionnaire: FOA

FOA Food Producers

FOA

FOA Food Products

FOA

Food &

Bevera

ge

Food,

Bevera

ge

& T

obacco

INDUSTRY DESCRIPTION S&P Producers of agricultural products, such as crop growers, owners of plantations, companies that raise livestock or poultry, fishing companies and other producers of meat, poultry or fish products; as well as producers of packaged foods including dairy products, fruit juices, meats, poultry, fish and pet foods.


2012 2013


Former FRP Forestry & Paper Sector

Translates to FRP Paper & Forest Products Industry

Part of Materials Industry Group

Applicable Questionnaire: FRP

FRP Forestry & Paper

FRP

FRP Paper & Forest Products

FRP

Basic

Resourc

es

Mate

rials

INDUSTRY DESCRIPTION S&P Manufacturers of timber and related wood products, including lumber for the building industry; as well as manufacturers of all grades of paper (apart from paper/cardboard packaging companies classified under CTR).


2012 2013


Former FTR Furnishing Sector

DELETED


FTR Furnishing

FTR

DELETED

Pers

onal &

Household

G

oods

DELETION RATIONALE: FTR has traditionally been a sector with few eligible companies. Based on this, and the fact that furnishing companies are facing many sustainability challenges similar to those of other durable household goods companies, the decision has been taken to discontinue the use of the sector and instead include the GICS sub-industry „Home Furnishings“ in RobecoSAM GICS DHP Household Durables industry.


Former FTR companies mainly move to DHP & ICS

2012 2013


Former FTS Fixed Line Communications Sector (MERGED)

Translates to TLS Telecommunication Services Industry

Part of Telecommunication Services Industry Group

Applicable Questionnaire: CTS

TLS Tele-

communication Services

CTS

CTS Mobile Telecommunications

CTS

FTS Fixed Line Communications

FTS Tele

com

munic

ation

Serv

ices

Tele

com

munic

ations

INDUSTRY DESCRIPTION S&P The industry includes providers of communications and high-density data transmission services through fixed-line telecommunication networks and/or high bandwidth/fiber-optic cable networks; as well as providers of cellular and wireless telecommunication services,

including paging.

Change Status: Minor Questionnaire Change; New Industry; Name Change of Industry Group

2012 2013


Former GAS Gas Distribution Sector

Translates to GAS Gas Utilities Industry

Part of Utilities Industry Group Applicable Questionnaire: GAS

GAS Gas Distribution

GAS

GAS Gas Utilities

GAS

Utilities

Utilities

INDUSTRY DESCRIPTION S&P Companies whose main charter is to distribute and transmit natural and manufactured gas. Excluded are companies primarily involved in gas exploration or production (OIX), as well as diversified midstream natural gas companies classified in PIP.

Change Status: Name Change of Industry

2012 2013


Former HEA Healthcare Providers Sector

Translates to Healthcare Providers & Services Industry

Part of Health Care Equipment & Services Industry Group

Applicable Questionnaire: HEA

HEA Healthcare Providers

HEA

HEA Healthcare Providers & Services

HEA Healthcare

Health C

are

Equip

ment

&

Serv

ices

INDUSTRY DESCRIPTION S&P Providers of patient health care services such as dialysis centers, lab testing services, and pharmacy management services as well as providers of business support services to health care providers. Owners and operators of health care facilities, including hospitals, nursing homes, rehabilitation centers and animal hospitals, Health Maintenance Organizations (HMOs) and other managed plans. Distributors and wholesalers of health care products not classified elsewhere.


2012 2013


Former HOM Home Construction Sector

Translates to HOM Homebuilding Industry


Applicable Questionnaire: HOM

HOM Home Construction

HOM

HOM Homebuilding

HOM

Pers

onal &

Household

G

oods

Consum

er

Dura

ble

s

& A

ppare

l

INDUSTRY DESCRIPTION S&P Residential construction companies, including manufacturers of prefabricated houses and semi-fixed manufactured homes.


2012 2013


Former HOU Nondurable Household Products Sector

Translates to HOU Household Products Industry

Part of Household & Personal Products Industry Group

Applicable Questionnaire: HOU

HOU Nondurable Household Products

HOU

HOU Household Products

HOU

Pers

onal &

Household

G

oods

Household

& P

ers

onal

Pro

ducts

INDUSTRY DESCRIPTION S&P Producers of non-durable household products, including detergents, soaps, diapers and other tissue and household paper products not classified in FRP.


2012 2013


Former ICS Support Services Sector (SPLIT)

Translates to ICS Commercial Services & Supplies Industry

Part of Commercial & Professional Services Industry Group

Applicable Questionnaire: ICS

ICS Support Services

ICS

ICS Commercial Services & Supplies

ICS


ICS

Industr

ial G

oods

& S

erv

ices

Com

merc

ial &

Pro

fessio

nal

Serv

ices

INDUSTRY DESCRIPTION S&P Companies providing commercial printing services, environmental & facility maintenance services including waste management (excluding water treatment plants, classified under MUW), providers of office services, manufacturers of office supplies, companies providing labor oriented support such as cleaning, catering, repair or equipment maintenance, storage, warehousing or general rental services as well as security & alarm services. Excludes providers of security software (SOF).

Com

merc

ial &

Pro

fessio

nal

Serv

ices


2012

2013

TCD Trading Companies

& Distributors

ICS Capital

Goods



Translates to PRO Professional Services Industry

Part of Commercial & Professional Services Industry Group

Applicable Questionnaire: ICS


ICS


ICS


ICS

Industr

ial G

oods

& S

erv

ices

Com

merc

ial &

Pro

fessio

nal

Serv

ices INDUSTRY

DESCRIPTION S&P Companies providing business support services relating to human capital management, such as employment agencies, employee training, payroll & benefit support services, retirement support services and temporary agencies. Companies involved in management consulting services, architectural design, business information or scientific research, marketing, and testing & certification services. Excluded are IT consulting companies (TSV).

Com

merc

ial &

Pro

fessio

nal

Serv

ices

Change Status: New Industry & New Industry Group

2012

2013


& Distributors

ICS Capital

Goods



Translates to TCD Trading Companies & Distributors Industry

Part of Capital Goods Industry Group Applicable Questionnaire: ICS


ICS


ICS


ICS

Industr

ial G

oods

& S

erv

ices

Com

merc

ial &

Pro

fessio

nal

Serv

ices INDUSTRY

DESCRIPTION S&P Trading companies and other distributors of industrial equipment and products.

Com

merc

ial &

Pro

fessio

nal

Serv

ices

Change Status: New Industry; Name Change of Industry Group

2012

2013


& Distributors

ICS Capital

Goods


Former IDD Diversified Industrials Sector

Translates to IDD Industrial Conglomerates Industry


Applicable Questionnaire: IDD

IDD Diversified Industrials

IDD

IDD Industrial Conglomerates

IDD

Industr

ial G

oods

& S

erv

ices

Capital G

oods

INDUSTRY DESCRIPTION S&P Diversified industrial companies with business activities in three or more sectors, none of which contribute a majority of revenues. Stakes held are predominantly of a controlling nature and stakeholders maintain an operational interest in the running of the subsidiaries.


2012 2013


Former IEQ Industrial Engineering Sector

Translates to IEQ Machinery & Electrical Equipment Industry


Applicable Questionnaire: IEQ

IEQ Industrial Engineering

IEQ

IEQ Machinery & Electrical Equipment

IEQ

Industr

ial G

oods

& S

erv

ices

Capital G

oods

INDUSTRY DESCRIPTION S&P Manufacturers of heavy machinery such as power-generating equipment and other heavy electrical equipment, heavy duty trucks, rolling machinery, earth-moving and construction equipment, heavy farm machinery, non-military ships; industrial machinery and industrial components, such as manufacture presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings and other metal fabrications.


2012 2013


Former INS Insurance Sector

Translates to INS Insurance Industry

Part of Insurance Industry Group Applicable Questionnaire: INS

INS Insurance

INS

INS Insurance

INS Insura

nce

Insura

nce

INDUSTRY DESCRIPTION S&P The insurance industry includes insurance and reinsurance brokers, life & health insurance companies, multi-line insurance companies, property & casualty insurance as well as reinsurance companies.

Change Status: NONE

2012 2013


Former ITC Electronic Equipment Sector

Translates to ITC Electronic Equipment, Instruments & Components Industry


Applicable Questionnaire: ITC

ITC Electronic Equipment

ITC

ITC Electronic Equipment, Instruments

& Components

ITC

Industr

ial G

oods

& S

erv

ices

Technolo

gy H

ard

ware

&

Equip

ment

INDUSTRY DESCRIPTION S&P Manufacturers and wholesale distributors of electronic equipment, instruments and components, such as analytical, electronic test and measurement instruments, scanner/barcode products, lasers, display screens, point-of-sales machines, security system equipment, electronic components, connection devices, electron tubes, electronic capacitors and resistors, electronic coil, printed circuit board, transformer and other inductors, signal processing technology/components.


2012 2013


Former LEG Leisure Goods Sector

Translates to LEG Leisure Equipment & Products & Consumer Electronics Industry


Applicable Questionnaire: LEG

LEG Leisure Goods

LEG

LEG Leisure Equipment & Products &

Consumer Electronics

LEG

Pers

onal &

Household

G

oods

Consum

er

Dura

ble

s

& A

ppare

l

INDUSTRY DESCRIPTION S&P Manufacturers of consumer electronics products including TVs, VCRs, hi-fi equipment, game consoles and related products (excluding PCs classified in THQ and electric household appliances classified in HOU), as well as manufacturers of leisure products and equipment such as sports equipment, bicycles, toys, photographic equipment and related products.


2012 2013


Former MNX Mining Sector (SPLIT)

Translates to MNX Metals & Mining Industry

Part of Materials Industry Group Applicable Questionnaire: MNX

MNX Mining

MNX

MNX Metals & Mining

MNX

COL Coal & Consumable Fuels

MNX

Basic

Resourc

es

Mate

rials

INDUSTRY DESCRIPTION S&P Companies engaged in the diversified production or extraction of metals and minerals including precious metals, nonferrous metal mining (except aluminum, classified in ALU), salt and borate mining, phosphate rock mining, metallurgical (coking) coal mining used for steel production and diversified mining operations. Excludes iron ore mining, classified in the Steel (STL), as well as bituminous (thermal) coal-mining companies classified in the Coal & Consumable Fuels Industry (COL).

Energ

y


2012

2013


Former MNX Mining Sector (SPLIT)

Translates to COL Coal & Consumable Fuels Industry

Part of Energy Industry Group Applicable Questionnaire: MNX

MNX Mining

MNX

MNX Metals & Mining

MNX

COL Coal & Consumable Fuels

MNX

Basic

Resourc

es

Mate

rials

INDUSTRY DESCRIPTION S&P Companies primarily involved in the production and mining of coal, related products and other consumable fuels related to the generation of energy. Excluded are companies primarily producing industrial gases (CHM) and companies primarily mining for metallurgical (coking) coal used for steel production (MNX).

Energ

y


2012

2013


Former MTC Medical Products Sector (SPLIT)

Translates to MTC Health Care Equipment & Supplies Industry

Part of Health Care Equipment & Services Industry Group

Applicable Questionnaire: MTC

MTC Medical Products

MTC


MTC


MTC

Healthcare

Health C

are

Equip

ment

& S

erv

ices

INDUSTRY DESCRIPTION S&P Manufacturers of health care equipment and devices, such as medical instruments, drug delivery systems, cardiovascular & orthopedic devices, and diagnostic equipment as well as manufacturers of health care supplies such as eye care products, hospital supplies, and safety needle & syringe devices.

Pharm

aceuticals

, Bio

technolo

gy &

Life S

cie

nces


2012

2013


Former MTC Medical Products Sector (SPLIT)

Translates to LIF Life Sciences Tools & Services Industry

Part of Pharmaceuticals Biotechnology & Life Sciences Industry Group

Applicable Questionnaire: MTC

MTC Medical Products

MTC


MTC


MTC

Healthcare

Health C

are

Equip

ment

& S

erv

ices

INDUSTRY DESCRIPTION S&P Companies enabling the drug discovery, development and production continuum by providing analytical tools, instruments, consumables & supplies, clinical trial services and contract research services. Included are firms primarily servicing the pharmaceutical and biotechnology industries.

Pharm

aceuticals

, Bio

technolo

gy &

Life S

cie

nces


2012

2013


Former OIE Oil Equipment & Services Sector

Translates to OIE Energy Equipment & Services Industry

Part of Energy Industry Group Applicable Questionnaire: OIE

OIE Oil Equipment & Services

OIE

OIE Energy Equipment & Services

OIE Oil &

Gas

Energ

y

INDUSTRY DESCRIPTION S&P Oil & gas drilling contractors or owners of drilling rigs that contract their services for drilling wells; manufacturers of equipment, including drilling rigs; and providers of supplies and services to companies involved in the drilling, evaluation and completion of oil and gas wells.


2012 2013


Former OIX Oil & Gas Producers Sector

Translates to OIX Oil & Gas Industry

Part of Energy Industry Group Applicable Questionnaire: OIX

OIX Oil & Gas Producers

OIX

OIX Oil & Gas

OIX Oil &

Gas

Energ

y

INDUSTRY DESCRIPTION S&P Companies engaged in the exploration & production of oil and gas, as well as refining and/or marketing of oil, gas or refined products.


2012 2013


Former PIP Pipelines Sector

Translates to PIP Oil & Gas Storage & Transportation Industry

Part of Energy Industry Group Applicable Questionnaire: PIP

PIP Pipelines

PIP

PIP Oil & Gas Storage &

Transportation

PIP Oil &

Gas

Energ

y

INDUSTRY DESCRIPTION S&P Companies engaged in the storage and/or transportation of oil, gas and/or refined products. Included are diversified midstream natural gas companies facing competitive markets, oil and refined product pipelines, coal slurry pipelines and oil & gas shipping companies.


2012 2013


Former POL Waste & Disposal Services Sector

DELETED


POL Waste & Disposal Services

POL

DELETED

Industr

ia G

oods

& S

erv

ices

DELETION RATIONALE: Due to the lack of an equivalent waste & disposal sub-industry in the GICS classification, as well as the low number of eligible companies in the sub-industry Environmental & Facilities Services, the former POL sector was deleted.


Former POL companies mainly move to ICS

2012 2013


Former PUB Media Sector

Translates to PUB Media Industry

Part of Media Industry Group Applicable Questionnaire: PUB

PUB Media

PUB

PUB Media

PUB

Media

Media

INDUSTRY DESCRIPTION S&P Companies providing advertising, marketing or public relations services, owners and operators of television or radio broadcasting systems; providers of cable or satellite television services, cable networks and program distribution channels; producers and vendors of entertainment products and services, such as movies, TV shows, music, entertainment theaters and sports teams; publishers of newspapers, magazines and books, and providers of information in print or electronic formats.

Change Status: NONE

2012 2013


Former REA Real Estate Sector

Translates to REA Real Estate Industry

Part of Real Estate Industry Group Applicable Questionnaire: REA

REA Real Estate

REA

REA Real Estate

REA Real Esta

te

Real Esta

te

INDUSTRY DESCRIPTION S&P Real estate developing, managing and operating companies, as well as real estate service providers such as agents, brokers and appraisers. The industry also includes several forms of real estate investment trusts (REITs).

Change Status: NONE

2012 2013


Former REX Hotels, Restaurants, Bars & Recreational Services Sector

Translates to REX Restaurants & Leisure Facilities Industry


Applicable Questionnaire: REX

REX Hotels, Restaurants, Bars & Recreational Services

REX

REX Restaurants & Leisure Facilities

REX

Tra

vel &

Leis

ure

Consum

er

Serv

ices

INDUSTRY DESCRIPTION S&P Owners and operators of leisure facilities, including sport and fitness centers, stadiums, golf courses and amusement parks not classified in the Movies & Entertainment Sub-Industry

(PUB). Owners and operators of restaurants, bars, pubs, fast-food or take-out facilities.


2012 2013


Former RTS General Retailers Sector

Translates to RTS Retailing Industry

Part of Retailing Industry Group Applicable Questionnaire: RTS

RTS General Retailers

RTS

RTS Retailing

RTS

Reta

il

Reta

ilin

g

INDUSTRY DESCRIPTION S&P Distributors and wholesalers of general merchandise not classified elsewhere. Catalog, Mail order and TV home shopping retailers, internet retailers, department stores, as well as specialized retailers in the areas of apparel & accessories, computer & electronics, home improvement, home furnishing, automotive, jewelry, toys, office supplies, books, entertainment, etc.


2012 2013


Former SEM Semiconductors Sector

Translates to SEM Semiconductors & Semiconductor Equipment Industry

Part of Semiconductors & Semiconductor Equipment Industry Group

Applicable Questionnaire: SEM

SEM Semiconductors

SEM

SEM Semiconductors & Semiconductor

Equipment

SEM Technolo

gy

Sem

iconducto

rs &

Sem

iconducto

r

Equip

ment

INDUSTRY DESCRIPTION S&P Manufacturers of semiconductors and related products, including manufacturers of solar modules and cells, as well as manufacturers of semiconductor equipment, including the raw

material and equipment used in the solar power industry.


2012 2013


Former SOF Software Sector

Translates to SOF Software Industry

Part of Software & Services Industry Group

Applicable Questionnaire: SOF

SOF Software

SOF

SOF Software

SOF Technolo

gy

Soft

ware

& S

erv

ices

INDUSTRY DESCRIPTION S&P Companies engaged in developing and producing software and software systems designed for specialized applications for the business or consumer market, including enterprise and technical software, database management software, home entertainment software and educational software used primarily in the home.


2012 2013


Former STL Steel Sector

Translates to STL Steel Industry

Part of Material Industry Group Applicable Questionnaire: STL

STL Steel

STL

STL Steel

STL

Basic

Resourc

es

Mate

rial

INDUSTRY DESCRIPTION S&P Producers of iron, steel and related products, as well as iron ore extractors.


2012 2013


Former TEX Clothing, Accessories & Footwear Sector

Translates to TEX Textiles, Apparel & Luxury Goods Industry


Applicable Questionnaire: TEX

TEX Clothing, Accessories & Footwear

TEX

TEX Textiles, Apparel

& Luxury Goods

TEX

Pers

onal &

Household

G

oods

Consum

er

Dura

ble

s

& A

ppare

l

INDUSTRY DESCRIPTION S&P Manufacturers of apparel, accessories & luxury goods, such as designer handbags, wallets, luggage, jewelry and watches, as well as manufacturers of footwear and other textiles (except home furnishing textiles, classified under DHP).


2012 2013


Former THQ Computer Hardware & Electronic Office Equipment Sector

Translates to THQ Computers & Peripherals & Office Electronics Industry


Applicable Questionnaire: THQ

THQ Computer Hardware &

Electronic Office Equipment

THQ

THQ Computers & Peripherals &

Office Electronics

THQ Technolo

gy

Technolo

gy H

ard

ware

&

Equip

ment

INDUSTRY DESCRIPTION S&P Manufacturers of personal computers, servers, mainframes and workstations, office electronic equipment including copiers and faxes, Automatic Teller Machines (ATMs), electronic computer components and peripherals, such as data storage components, motherboards, audio and video cards, monitors, keyboards, printers and other peripherals. Excluded are semiconductors (SEM).


2012 2013


Former TOB Tobacco Sector

Translates to TOB Tobacco Industry


Applicable Questionnaire: TOB

TOB Tobacco

TOB

TOB Tobacco

TOB

Pers

onal &

Household

G

oods

Food,

Bevera

ge

& T

obacco

INDUSTRY DESCRIPTION S&P Manufacturers of cigarettes and other tobacco products.


2012 2013


Former TRA Industrial Transportation Sector

Translates to TRA Transportation & Transportation Infrastructure Industry

Part of Transportation Industry Group Applicable Questionnaire: TRA

TRA Industrial Transportation

TRA

TRA Transportation & Transportation

Infrastructure

TRA

Industr

ial G

oods

& S

erv

ices

Tra

nsport

ation

INDUSTRY DESCRIPTION S&P Companies providing air freight transportation, courier and logistics services, including package and mail delivery and customs agents. Companies providing goods or passenger transportation as well as transportation infrastructure ownership & operation on road, rail, water or air, excluding airlines (AIR) and cruise-ships (TRT). Includes vehicle rental and taxi companies.


2012 2013


Former TRT Travel & Tourism Sector

Translates to TRT Hotels, Resorts & Cruise Lines Industry


Applicable Questionnaire: TRT

TRT Travel & Tourism

TRT

TRT Hotels, Resorts & Cruise Lines

TRT

Tra

vel &

Leis

ure

Consum

er

Serv

ices

INDUSTRY DESCRIPTION S&P Owners and operators of hotels, resorts and cruise-ships, travel agencies, tour operators and related services. Excluded are casino-hotels (CNO).


2012 2013


Former TSV Computer Services & Internet Sector

Translates to TSV IT Services & Internet Software & Services Industry

Part of Software & Services Industry Group

Applicable Questionnaire: TSV

TSV Computer Services & Internet

TSV

TSV IT Services & Internet Software

& Services

TSV Technolo

gy

Soft

ware

& S

erv

ices

INDUSTRY DESCRIPTION S&P Companies developing and marketing internet software and/or providing internet services including online databases and interactive services, web address registration services, database construction and internet design services, IT consulting and information management services; providers of commercial electronic data processing and/or business process outsourcing services, as well as companies that provide services for back-office automation.


2012 2013


Former WAT Water Sector

DELETED


WAT Water

WAT

DELETED

Industr

ial G

oods

& S

erv

ices

DELETION RATIONALE: WAT has traditionally been a sector with few eligible companies. Based on this, and the fact that water utility companies are facing many sustainability challenges similar to those of other utility companies, the decision has been taken to discontinue the use of the sector and instead include the GICS sub-industry „Water Utilities“ in RobecoSAM GICS MUW Multi- and Water Utilities Industry.


Former WAT companies mainly move to MUW

2012 2013

FAQ

74

Who classifies companies into industries? S&P Dow Jones Indices classifies companies according to GICS. Based on the GICS classification and a pre-determined mapping, companies are assigned to a RobecoSAM GICS sector, which determines the questionnaire handed out in the RobecoSAM Corporate Sustainability Assessment (CSA).

How often are the GICS sector classifications reviewed? Companies are reviewed at minimum annually by S&P Dow Jones Indices. Companies are also under constant surveillance for corporate actions. In general, a GICS code will change whenever there is a major corporate action that redefines a company's primary line of business. At a minimum, annual reviews are conducted to ensure that a company has not redefined its line of business through a series of smaller events.

What can I do if I feel that my company has been misclassified? GICS reviews will also occur upon client request. You should write an email immediately to the GICS identifier team at S&P Dow Jones Indices at: [email protected] or [email protected]. Once they have received additional documentation, S&P Dow Jones Indices will analyze the request with their GICS partner, MSCI. The timing will vary, depending on their current queue, but it should be within four weeks time. At the time of your request, they will not be able to give you a precise schedule for the review or the timing of their potential decision. You will hear from Customer Support only after a decision has been made.

mailto:[email protected]


FAQ

Along with your request, you are encouraged to provide the following information:

• Company name

• Country

• Commercial identifier (ticker, CUSIP, SEDOL, or ISIN)

• Reason for review

• Supporting evidence -- business description, peer/competitive analysis, revenue and earnings analysis

• Source of data

Please note that a request for a review does not guarantee a classification change since GICS is proprietary to S&P Dow Jones Indices and MSCI and they maintain the right to manage the classification standard as they believe is appropriate, including the classification for individual companies.

Deadlines for DJSI: Reclassification is only possible during quarterly index reviews and any changes are effective on the third Monday of March, June, September or December. In order for a company to be reclassified in time for the annual review, the re-classification must have happened by March 21st at the latest, because we can only take changes from the first quarter into account for the assessment (questionnaires are launched early April).

Impact: Reclassification means that the company will now be eligible in a different industry, hence will need to receive the appropriate questionnaire based on the new industry.

FAQ

76

What implication does a Change Status of “Name Change of Industry and/or Industry Group” have? Practically none. It indicates that GICS uses a different name for a former RobecoSAM ICB sector, which was based on the Dow Jones Industry Classification System (formerly ICB), but the industry and/or industry group peer groups as well as the questionnaire all stay more or less the same. What does “Applicable Questionnaire” on the sector slides mean? The applicable questionnaire indicates the base questionnaire from 2012, which will be applied to the new RobecoSAM GICS industries. In all industries that have not changed (apart from indicated name changes), this means that you can expect the same questionnaire, taking into account the usual 10-15% of annual change due to RobecoSAM’s methodology revision. My company’s former sector was split. All of the new industries still indicate the old base questionnaire. What is the implication of this? In all the cases of sector splits (ELC, ICS, BLD, MNX, MTC) the main content and structure of the base questionnaire from 2012 will still apply to the spin-off industries. This is why the old base questionnaire is indicated also as base for the new industries. In practice, member companies of the spin-off industries will receive a questionnaire in April with the new industry’s name (for example PRO Professional Services as ICS spin-off). However, as the spin-off questionnaires are based strongly on the old questionnaire, the change will not exceed the standard annual 10-15% change from methodology revision. From 2013 on the new industry questionnaires will develop independently.

FAQ

77

My company used to be a FTS Fixed Line Communications company, and is now part of the newly merged TLS Telecommunication Services Industry. The slide indicates a questionnaire change. What is the implication of this? Due to the fact that most telecommunication companies are active in both fixed line and mobile telecommunications, the CTS and FTS sectors have been merged to one telecommunication industry. The former CTS questionnaire will be applied to the new TLS industry (renamed to TLS Telecommunication Services questionnaire, going forward), which implies a minor change to the base questionnaire for former FTS companies. They will receive separate information by email regarding all implications of this questionnaire change. Can I see in this presentation if my company will switch sectors? Not necessarily. This presentation explains and visualizes how former RobecoSAM ICB sectors translate into the new RobecoSAM GICS industry taxonomy, highlights name changes, as well as more significant actions such as mergers, splits, deletions of sectors or the switch of industry groups (former supersector). You can see in the invitation list in which new RobecoSAM GICS industry your company is classified in 2013. What implication does a “New Industry” have? Several former sectors have been split or merged in order to correspond to the GICS taxonomy. This led to the creation of seven new industries, where no equivalent existed in the former Dow Jones Industry Classification System (formerly ICB) methodology. Since in most cases the questionnaires are still strongly based on the former sector’s questionnaire, the only tangible implication is a new industry peer group.

http://www.sustainability-index.com/review/timeline-2013.jsp


FAQ

78

How can I find out who my company’s new industry peer group is? The invitation list can be filtered by industry. You can filter on your company’s assigned industry to see which other companies of this industry are eligible for DJSI and hence invited. What does “New Industry Group” mean? What are the implications? The change status “New Industry Group” highlights that an industry (former sector) belongs to a different industry group (former supersector) according to the GICS taxonomy than it used to belong to in the Dow Jones Industry Classification System (formerly ICB) classification. It implies that the new industry group consists of significantly different industries (sectors) than the old supersector used to. The implication for industry leaders is that they will have to compete against a different set of industry leaders for the industry group leader position (former supersector leader). My company’s former sector has been deleted (ALT, FTR, POL, WAT) – what is the implication of this? All companies of a deleted former RobecoSAM ICB sector are re-classified under GICS. This always implies an industry and usually also base questionnaire change. Sometimes the industry group will also change. Companies affected by such changes triggered by sector deletion will be contacted and informed by RobecoSAM. My company was supersector leader of a supersector that has been deleted. What will happen? Depending on your former sector, you have been classified to a new RobecoSAM GICS industry as well as a new GICS industry group. You will hence compete against the industry leaders of the other industries contained in your new industry group in the future.


FAQ

Why is the switch from “Personal & Household Goods” to “Household & Personal Products” indicated as an industry group switch? Is this not only a name change?

In this case indeed the names of the former supersector and new industry group are very similar and would classify as a name change. However, the underlying industries change significantly: from DHP, HOM, LEG, TEX, FTR, COS & TOB in the former supersector to only COS and HOU in the new industry group – which is why this case qualifies as a “New Industry Group”.

If you have any further questions please contact:

80

RobecoSAM DJSI Helpline Josefstrasse 218

CH-8005 Zürich

Switzerland

[email protected]

Tel: +41 44 653 10 30

Fax: +41 44 653 10 50


Disclaimer

No Warranty This publication is derived from sources believed to be accurate and reliable, but neither its accuracy nor completeness is guaranteed. The material and information in this publication are provided "as is" and without warranties of any kind, either expressed or implied. RobecoSAM AG and its related, affiliated and subsidiary companies disclaim all warranties, expressed or implied, including, but not limited to, implied warranties of merchantability and fitness for a particular purpose. Any opinions and views in this publication reflect the current judgment of the authors and may change without notice. It is each reader's responsibility to evaluate the accuracy, completeness and usefulness of any opinions, advice, services or other information provided in this publication.

Limitation of Liability All information contained in this publication is distributed with the understanding that the authors, publishers and distributors are not rendering legal, accounting or other professional advice or opinions on specific facts or matters and accordingly assume no liability whatsoever in connection with its use. In no event shall RobecoSAM AG and its related, affiliated and subsidiary companies be liable for any direct, indirect, special, incidental or consequential damages arising out of the use of any opinion or information expressly or implicitly contained in this publication.

Copyright Unless otherwise noted, text, images and layout of this publication are the exclusive property of RobecoSAM AG and/or its related, affiliated and subsidiary companies and may not be copied or distributed, in whole or in part, without the express written consent of RobecoSAM AG or its related, affiliated and subsidiary companies.

No Offer The information and opinions contained in this publication constitute neither a solicitation, nor a recommendation, nor an offer to buy or sell investment instruments or other services, or to engage in any other kind of transaction. The information described in this publication is not directed to persons in any jurisdiction where the provision of such information would run counter to local laws and regulation.

Copyright © 2013 RobecoSAM - all rights reserved.

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