Center for Sustainable Finance and Private Wealth Singapore (CSP SG) FAQ Download the FAQ (PDF) here. 1. What makes CSP SG different? a) CSP SG is a non-profit organization and does not act as a consultant, deal platform, or fund manager. b) By providing a trusted, no-pitching environment, CSP SG runs training programs for wealth owners and wealth managers backed by rigorous academic research as well as applied research in sustainable finance. c) Because CSP’s origins come from its expertise in running training programs for wealth owners, CSP has a unique, wealth-owner perspective. d) CSP’s vision is that the portfolio of every wealth holder supports the UN SDGs.   2. Who is CSP SG’s target audience? a) CSP SG primarily focuses on wealth owners themselves. We believe that empowering and enabling wealth owners is a key to drive demand and advance the impact space. b) Our secondary audience is intermediaries – we enable intermediaries (finance professionals) in wealth management to speak the same language and understand the motivations of (ultra) high-net-worth individuals.   3. What is impact investing (from CSP’s perspective)? a) Sustainable Finance/Investing is commonly used as an umbrella term for different approaches: (i) Exclusions/Best-In-Class; (ii) ESG Integration; (iii) Active Ownership (Voting & Engagement); (iv) Thematic Investing; and (v) Impact Investing. b) Sustainability-themed funds offer investors exposure to sustainable sectors or companies providing solutions to global challenges often in public markets, such as SDG funds. c) Impact investing intentionally aims to solve global challenges, mainly with private market investments.   4. Does CSP SG deploy capital or recommend products/funds? a) No, CSP SG does not deploy capital nor recommend any products/funds. b) CSP SG maintains its data-driven approach and unbiased perspective by focusing on training and research; it does not seek to promote deals nor fund advisory or management; it does not provide consulting services. c) Our focus is on providing a training and research platform free from conflict of interest.   5. What gap is CSP SG filling? a) A survey by Barclays in 2015 indicates that typically 60 percent of wealth owners are interested in sustainable investment (SI) but 91 percent have not invested. (See below “Interest vs Action” infographic.) b) CSP believes the reasons for this are:

• • • Investors are undereducated
    • Intermediaries are undereducated
    • Knowledge and independence is rare

CSP fills these gaps through research – scientific and applied – and audience-specific training programs.   6. Why wouldn’t HNWIs/Family Offices simply turn to their wealth managers/private banks? Or engage/employ a subject matter expert? a) With sustainable finance (SI) as a new field, expertise is still scarce. b) Many banks are still working on building the required product platforms, knowledge, and training their staff. c) CSP SG provides the training and platform to facilitate the transfer of knowledge in SI to wealth managers/private banks and wealth owners.   7. Why does CSP SG think there is a need for education about SI and impact investing? a) There is a clear gap to be bridged: The combined wealth of the richest 1 percent of people is USD 173 trillion. It is estimated that the UN SDGs will cost approx. 5-7 trillion per annum until 2030 to fix.

• • • Sources: “Credit Suisse Global wealth report 2020“ and the “World Bank Understanding the Cost of Achieving the Sustainable Development Goals” (link).

  8. What are the research questions that CSP SG will work on? a) How do investors decide to implement impact in their investments? b) What is the role of (financial) intermediaries? c) What are the levers private investors and wealthy families can use to drive sustainable development, and how? d) How can investors maximize their investor impact? e) How to mobilize capital for positive and permanent change?   9. How much capital has CSP alumni mobilized? a) This is difficult to calculate with accuracy as private wealth owners do not disclose their wealth, and attributing the contribution of our work to investments made is not possible in a precise manner. b) By assuming the average wealth of program participants and a low percentage of that wealth being moved due to our programs, we estimate that about USD 7 billion has been allocated to SI since 2015 through our training of wealth owners alone. c) Additional impact has also been achieved by training and working with regulators as well as private banks.   10. How do we know that family offices and HNWI in Asia are thinking of deploying more capital towards impact? a) CSP at the University of Zurich ran pilot programs in Singapore, Thailand, and Bali that were well attended by wealth owners. CSP SG has seen increasing demand from the continuous stream of program participants and interest from the APAC region.   11. Isn’t this all greenwashing? Does it really matter? a) We see capital as a deciding driver for socio-economic development. Developments such as Engine No. 1, an American activist and impact-focused investment firm, placing three new, climate-change knowledgeable directors onto the Board of Exxon Mobile is only one of many examples highlighting the role of investors in sustainable development. b) In the long run, CSP’s vision is that the entire portfolio of every wealth owner fully advances sustainable development and that the decisions leading to these investments are supported by evidence to maximize positive impact.