Rating the Raters: Evaluating how ESG Rating Agencies Integrate Sustainability Principles

Environmental, social, and governance (ESG) rating agencies, acting as relevant financial market actors, should take a stand on working towards achieving a more sustainable development. In this context, the objective of this paper is, on the one hand, to understand how criteria used by ESG rating agencies in their assessment processes have evolved over the last ten years and, on the other hand, to analyze whether ESG rating agencies are contributing to fostering sustainable development by the inclusion of sustainability principles into their assessment processes and practices according to the ESG criteria. This research is based on a comparative descriptive analysis of the public information provided by the most representative ESG rating and information provider agencies in the financial market in two periods: 2008 and 2018. The findings show that ESG rating agencies have integrated new criteria into their assessment models to measure corporate performance more accurately and robustly in order to respond to new global challenges. However, a deep analysis of the criteria also shows that ESG rating agencies do not fully integrate sustainability principles into the corporate sustainability assessment process

Sustainability rating agencies as a driver of socially responsible investment

El conjunto de actores de los mercados financieros a nivel mundial están demandando de forma creciente que la información financiera de las empresas se vea integrada con información de carácter ambiental, social y de gobierno corporativo. Las agencias de calificación de la sostenibilidad surgen en los mercados como oferentes de dicha información, desarrollado sus propias herramientas de medición y evaluación de los criterios financieros, ambientales y de gobernanza (FASG). El objetivo de este artículo es poner de manifiesto la función impulsora y modeladora que están realizando estas agencias en el análisis de la sostenibilidad corporativa, sus metodologías de evaluación y los criterios que utilizan, constatando que están potenciando el desarrollo de la inversión socialmente responsable (o inversión sostenible, o inversión con criterios ASG), y de las finanzas sostenibles, tanto por ofertar bases de datos de criterios FASG, como por la elaboración de índices bursátiles de sostenibilidad que sirven de benchmarking para los fondos de inversión con criterios de sostenibilidad. Sin embargo, por ahora, este impulso no está impactando en la innovación hacia modelos de negocios sostenibles.The financial market actors worldwide are increasingly demanding that the financial information of companies should be integrated with information of an environmental, social and corporate governance nature. The sustainability rating agencies emerge in the markets as providers of such information, developing their own tools for measuring and evaluating the financial, environmental and governance criteria (FESG). The objective of this paper is to highlight the function that these sustainability agencies are fulfilling, their evaluation methodologies and the criteria they use, confirming that they are promoting the development of socially responsible investment (or sustainable investment, or ESG investment). Both for their offer of databases of FESG criteria, and for the elaboration of sustainable indexes that serve as benchmarking for investment funds with sustainability criteria. However, they are not influencing innovation towards sustainable business models

Sustainable supply chain management in a global context: a consistency analysis in the textile industry between environmental management practices at company level and sectoral and global environmental challenges.

In a global context, it is crucial to measure and report the corporate sustainability impacts taking into account what is happening along the whole supply chains. The objective of this study is to analyze whether environmental measurement and reporting practices, currently developed by companies under a global supply chain context, are aligned with global environmental challenges and the environmental hotspots at the sectoral level. To tackle this objective, this study has been focused on the textile sector, due to the relevance of its environmental impacts. A research was conducted based on the analysis of global environmental challenges: 1) at company level, on the measurement and reporting of specific environmental indicators connected with the impact categories of the European Organization Environmental Footprint (OEF); and 2) on the analysis of textile industry environmental hotspots, through the technical tool SimaPro that allows their quantification and identification along the life cycle phases using different scenarios. The results show a consistency between global environmental challenges and company environmental disclosure; however, a disconnection between the specific environmental indicators reported by textile companies and the main hotspots of the sector are observed. This implies that companies could be managing environmental issues related to global environmental concerns but ignoring those critical environmental issues truly relevant from a technical point of view, according to the nature of their activity. The paper argues that is not only necessary to consider the corporate awareness regarding global environmental challenges, but also to address the real environmental hotspots at the sectoral level. This paper represents a contribution in the discussion about what sustainability management implies along the supply chains, emphasizing the need to advance in a consistent and science-based integration of global environmental challenges, environmental hotspots at the sectoral level and environmental management practices at company level. The results obtained help global chain actors and other organizations to address this challenge

Materiality Analysis for CSR Reporting in Spanish SMEs

Most corporate social responsibility (CSR) standards have not been designed to be implemented in small and medium sized enterprises (SMEs). Given that 99% of Spanish companies are SMEs, this study aims to propose a selection of basic CSR material issues that, because of their usefulness and significance, should be adapted to Spanish SMEs and their stakeholders. This study provides a CSR model for SMEs that includes the most important social, environmental, and corporate governance issues. This model, which is based on expert knowledge, is useful for integrating sustainability in the management of SMEs and enhancing the management of stakeholders

A Conserved GPG-Motif in the HIV-1 Nef Core Is required for principal nef-activities

© 2015 Martínez-Bonet et al. This is an open access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are creditedTo find out new determinants required for Nef activity we performed a functional alanine scanning analysis along a discrete but highly conserved region at the core of HIV-1 Nef. We identified the GPG-motif, located at the 121–137 region of HIV-1 NL4.3 Nef, as a novel protein signature strictly required for the p56Lck dependent Nef-induced CD4-downregulation in T-cells. Since the Nef-GPG motif was dispensable for CD4-downregulation in HeLa-CD4 cells, Nef/AP-1 interaction and Nef-dependent effects on Tf-R trafficking, the observed effects on CD4 downregulation cannot be attributed to structure constraints or to alterations on general protein trafficking. Besides, we found that the GPG-motif was also required for Nef-dependent inhibition of ring actin re-organization upon TCR triggering and MHCI downregulation, suggesting that the GPG-motif could actively cooperate with the Nef PxxP motif for these HIV-1 Nef-related effects. Finally, we observed that the Nef-GPG motif was required for optimal infectivity of those viruses produced in T-cells. According to these findings, we propose the conserved GPG-motif in HIV-1 Nef as functional region required for HIV-1 infectivity and therefore with a potential interest for the interference of Nef activity during HIV-1 infection.This work was supported by the Ramon y Cajal research program (MICIIN-RYC-2005-002174; http://www.mineco.gob.es/portal/site/mineco/idi), Fondo de Investigación Sanitaria en España (FIS-PS09/01386; http://www.isciii.es/) to RM, and Comunidad de Madrid (S-2010/BMD-2332; http://www.madrimasd.org/) to MAM-F, and the Deutsche Forschungsgemeinschaft (TRR83, project 15 to OTF). MM-B, CP and VB hold a fellowship from the Fondo de Investigación Sanitaria en España (FIS, http://www.isciii.es/). The funders had no role in study design, data collection and analysis, decision to publish, or preparation of the manuscript.info:eu-repo/semantics/publishedVersio

A Conserved GPG-Motif in the HIV-1 Nef Core Is Required for Principal Nef-Activities.

To find out new determinants required for Nef activity we performed a functional alanine scanning analysis along a discrete but highly conserved region at the core of HIV-1 Nef. We identified the GPG-motif, located at the 121-137 region of HIV-1 NL4.3 Nef, as a novel protein signature strictly required for the p56Lck dependent Nef-induced CD4-downregulation in T-cells. Since the Nef-GPG motif was dispensable for CD4-downregulation in HeLa-CD4 cells, Nef/AP-1 interaction and Nef-dependent effects on Tf-R trafficking, the observed effects on CD4 downregulation cannot be attributed to structure constraints or to alterations on general protein trafficking. Besides, we found that the GPG-motif was also required for Nef-dependent inhibition of ring actin re-organization upon TCR triggering and MHCI downregulation, suggesting that the GPG-motif could actively cooperate with the Nef PxxP motif for these HIV-1 Nef-related effects. Finally, we observed that the Nef-GPG motif was required for optimal infectivity of those viruses produced in T-cells. According to these findings, we propose the conserved GPG-motif in HIV-1 Nef as functional region required for HIV-1 infectivity and therefore with a potential interest for the interference of Nef activity during HIV-1 infection.This work was supported by the Ramon y Cajal research program (MICIIN-RYC-2005-002174; http://www.mineco.gob.es/portal/site/mineco/idi), Fondo de Investigación Sanitaria en España (FIS-PS09/01386; http://www.isciii.es/) to RM, and Comunidad de Madrid (S-2010/BMD-2332; http://www.madrimasd.org/) to MAM-F, and the Deutsche Forschungsgemeinschaft (TRR83, project 15 to OTF). MM-B, CP and VB hold a fellowship from the Fondo de Investigación Sanitaria en España (FIS, http://www.isciii.es/). The funders had no role in study design, data collection and analysis, decision to publish, or preparation of the manuscript.S

Matemática de las operaciones financieras

Departamento de Finanzas y Contabilidad. Asignatura de Matemática de las Operaciones Financiera. Códigos de las asignaturas: FC1003, EC1003, AE1003, DA020

Prognostic factors of a lower CD4/CD8 ratio in long term viral suppression HIV infected children

CoRISpe (Cohorte Nacional de VIH pediátrica de la RED RIS).[Background] Combination antiretroviral therapy (cART) is associated with marked immune reconstitution. Although a long term viral suppression is achievable, not all children however, attain complete immunological recovery due to persistent immune activation. We use CD4/CD8 ratio like a marker of immune reconstitution.[Methods] Perinatal HIV-infected children who underwent a first-line cART, achieved viral suppression in the first year and maintained it for more than 5 years, with no viral rebound were included. Logistic models were applied to estimate the prognostic factors, clinical characteristics at cART start, of a lower CD4/CD8 ratio at the last visit.[Results] 146 HIV-infected children were included: 77% Caucasian, 45% male and 28% CDC C. Median age at cART initiation was 2.3 years (IQR: 0.5–6.2). 42 (30%) children received mono-dual therapy previously to cART. Time of undetectable viral load was 9.5 years (IQR: 7.8, 12.5). 33% of the children not achieved CD4/CD8 ratio >1. Univariate analysis showed an association between CD4/CD8 1 was not achieved in 33% of the children. Lower CD4 nadir and previous exposure to suboptimal therapy, before initiating cART, are factors showing independently association with a worse immune recovery (CD4/CD8 < 1).Peer reviewe

RICORS2040 : The need for collaborative research in chronic kidney disease

Chronic kidney disease (CKD) is a silent and poorly known killer. The current concept of CKD is relatively young and uptake by the public, physicians and health authorities is not widespread. Physicians still confuse CKD with chronic kidney insufficiency or failure. For the wider public and health authorities, CKD evokes kidney replacement therapy (KRT). In Spain, the prevalence of KRT is 0.13%. Thus health authorities may consider CKD a non-issue: very few persons eventually need KRT and, for those in whom kidneys fail, the problem is 'solved' by dialysis or kidney transplantation. However, KRT is the tip of the iceberg in the burden of CKD. The main burden of CKD is accelerated ageing and premature death. The cut-off points for kidney function and kidney damage indexes that define CKD also mark an increased risk for all-cause premature death. CKD is the most prevalent risk factor for lethal coronavirus disease 2019 (COVID-19) and the factor that most increases the risk of death in COVID-19, after old age. Men and women undergoing KRT still have an annual mortality that is 10- to 100-fold higher than similar-age peers, and life expectancy is shortened by ~40 years for young persons on dialysis and by 15 years for young persons with a functioning kidney graft. CKD is expected to become the fifth greatest global cause of death by 2040 and the second greatest cause of death in Spain before the end of the century, a time when one in four Spaniards will have CKD. However, by 2022, CKD will become the only top-15 global predicted cause of death that is not supported by a dedicated well-funded Centres for Biomedical Research (CIBER) network structure in Spain. Realizing the underestimation of the CKD burden of disease by health authorities, the Decade of the Kidney initiative for 2020-2030 was launched by the American Association of Kidney Patients and the European Kidney Health Alliance. Leading Spanish kidney researchers grouped in the kidney collaborative research network Red de Investigación Renal have now applied for the Redes de Investigación Cooperativa Orientadas a Resultados en Salud (RICORS) call for collaborative research in Spain with the support of the Spanish Society of Nephrology, Federación Nacional de Asociaciones para la Lucha Contra las Enfermedades del Riñón and ONT: RICORS2040 aims to prevent the dire predictions for the global 2040 burden of CKD from becoming true