EASEYX

Status

completed

Summary

Objectives

1. Establishment of the sustainability index EASEYX at the Vienna stock exchange until early 2004.
2. Development of perspectives for and/or securing of the financial backing of the running costs of the index calculation and the index research.

Content

Within the framework of the research promotion program 'factory of the future' the BMVIT has financed the scientific basic study ‘EASEY- creation of sustainability indicators and model' (10/2001 - 07/2002). We have presented the results of this first project phase on July 4th 2002 at the Vienna stock exchange. The reactions of the public and the media were ex-tremely positive. Not without reason: 'Sustainability is a chance for the stimulation of the Austrian financial market' as Richard Schenz, commissioner of the Federal Government for the capital market, has put it on July 4th. According to a recent market research in the context of the project there are 650,000 private investors in Austria that would invest in 'sustainable' (environmentally friendly and social responsible) enterprises.

Together these potential investors are in funds of approximately € 351 millions per year. On the other hand the enterprises quoted in the Prime Market of the Vienna stock exchange are have an immense interest in sustainable management: 21 out of 30 surveyed emitters would be prepared to let their enterprise be analysed according to the EASEY concept if the chance existed to realise at least a part this investment potential.

'EASEY X' uses the evaluation method developed in the first project phase in order to ana-lyse the 40 enterprises listed in Prime Market of the Vienna stock exchange. The task of set-ting up the index is being accomplished in three steps: (1) Tool and source development, (2) analysis of the enterprises, (3) evaluation.

To discuss and/or reach decisions regarding the financial backing and the continuation of the EASEYX (break even prognosis for the Vienna stock exchange and the rating activities) as well as the sustainable development of the Austrian financial market, a "working group" of economists, politicians, scientists and representatives of NGO's will be invited on July 4th.

Methods

In order to calibrate the EASEY evaluation model three case studies will be carried out. Sub-sequently a standard questionnaire will be prepared, pre-tested and sent to the Prime Market enterprises. Parallel to this secondary data sources (emission data, ÖSTAT, immission reg-ister, etc.) for the 40 enterprises will be opened up and analysed. Finally by application of three different evaluation methods (statistics, shareholder value, multi criteria analysis) a maximum of scientificness and transparency is guaranteed.

Outcomes

• A list of the Prime Market enterprises ranked according to their sustainable performance (depending on the height of the auxiliary financing from the economy also a benchmarking of the first-ranked within the three prime Market sectors - industry, financial service pro-viders, other service providers with the first-ranked of different index universes .
• A handbook 'Sustainability analysis of a company" (procedures for the data search and evaluation, documentation, report formats, etc.).
• Perspectives and conclusion of the finical backing of the running costs from index calcula-tion to breaking even.

EASEY project plan