Eugenia Smerkis – a Monaco Star of Finance – giving insights on ESG Framework and Investing

The 2023 Monaco Financial Summit organised by the Finance Society of the International University of Monaco held in the prestigious and luxurious Fairmont Hotel Monaco brought together a carefully curated line-up of expert voices of the financial sector in Monaco.

The aim of the 2023 International University of Monaco Financial Summit was to present the valuable insights and dynamic discussions on investment developments, global market conditions and the latest trends in the global financial sector and to examine and reflect on the latest developments in sustainable finance.

Eugenia SMERKIS, an experienced British financier and entrepreneur, a Monaco resident privilégié and a Monaco star in the world of finance. She was one of the key speakers during the 2023 International University of Monaco Financial Summit.

An experienced financier an established figure in the Monaco world of finance, she is an inspiring millennial generation to follow in her footsteps.

Eugenia holds a Master’s Degree in the International Accounting and Finance from the London School of Economics and Political Science and Bachelor’s with honours from the Moscow State University. She has over 20 years of professional experience behind her working in the leading international financial and banking institutions in London and Monaco. She currently works as the VIP Commercial Advisor for one of the world’s largest global insurance and asset management companies GENERALI in Monaco. GENERALI Insurance provides personalised insurance solutions, life insurance, investments, corporate and personal insurance products, including health, car, property, boat, airplane, and art insurance.

The commitment to sustainability is the core of Generali’s strategy, and its ambition is to be the lifetime partner to customers, offering innovative and personalized solutions thanks to an unmatched distribution network. Generali believes sustainability is a necessary strategic way to approach business and not just a nice-to-have.

Eugenia also acts as the Business Development Executive for the Europe’s leading arranger of the short-term residential property finance, Interbridge.

In addition, Eugenia is an ambitious entrepreneur, who set up her own Monaco boutique advisory company for luxury and ESG products and services.

To close this note, we asked Eugenia if she can dispense invaluable wisdom regarding ESG:

 

Eugenia, would You please give us a rundown of ESG framework in a nutshell?  

In essence, ESG framework refers to a corporate strategy focused on Environmental, Social and Governance (ESG) aspects of the business.

Environmental criteria consider how a company safeguards the environment and complies with environmental regulations including corporate policies addressing climate change, pollution, carbon neutrality, and waste management, for example.

Social criteria examine how a company manages relationships with employees, suppliers, customers, and the communities where it operates and addresses issues such as equality, diversity, human rights, and consumer protection, for example.

Governance deals with a company’s values, transparency, ethics, tax strategy, executive pay, audits, internal controls, and shareholder rights.

With the development of ESG framework, there’s now a more reliable and transparent way to gain an understanding of how a company is prioritizing and managing the ESG pillars of business.

Consequently, this means that regulators, investors, and customers can better evaluate companies ESG aspects.

When the ESG framework was introduced and please tell us why it’s so important?

Environmental, social, and corporate governance (ESG) framework was first introduced in 2004 in a landmark study entitled “Who Cares Wins” conducted by the leading global financial institutions in joint initiative with the United Nations.

This landmark study explains that increased consideration of environmental, social and governance issues will ultimately lead to better investment decisions, create stronger and more resilient financial markets, contribute to the sustainable development of societies, while companies that improve their ESG criteria win in the long run.

What has been the dynamic in implementing ESG framework?

Since its introduction, ESG movement transformed into a truly global phenomenon, and it continues to grow globally with the increasing number of companies implementing ESG strategies and improving their ESG scoring.

ESG considerations have become increasingly important for the regulators, corporates, investors, and consumers.

Why have many companies decided to improve their ESG profile?

Firstly, in many countries, reporting ESG corporate elements is either mandatory or under active consideration.

Secondly, implementing ESG improvements correlates to long-term financial returns of companies and thirdly, consumers are increasingly looking to engage with companies that they believe have better ESG criteria.

What is ESG investing and why insurance companies can make a difference in implementation of ESG framework?

Environmental, social, and governance (ESG) investing refers to a set of principals used by investors to select potential investments.

Because of their vital economic role as underwriters and investors, insurance companies such as Generali, for example, are expected to play a critical part in the transition to a greener economy.

Not only can they drive change through responsible operations and asset allocation, but they can also incentivize other businesses and individuals by considering ESG factors in underwriting.

 

Enjoy even more @ Eugenia Smerkis

 

Edit by @ Nancy Caburnay

 

Editor @ Monaco Woman