Disclaimer

Important Legal Disclaimer 

All rights reserved. The Standard Ethics Rating (SER) is assigned by Standard Ethics Ltd in accordance with its established methodology on Corporate Social Responsibility and Corporate Governance based on the principles laid down by the European Union, the OECD and the United Nations. More information is provided on www.standardethics.eu.

Solicited Ratings are assigned on a Client’s request through a direct and regulated bilateral relationship.
Unsolicited Ratings are issued through official press releases only and for statistical or scientific purposes. Currently, to update Indices, as well as OECD countries ranking (including Brazil, China, Russia, India, South Africa, Egypt, Romania, Argentina, Bulgaria and Vatican City).

By issuing a solicited or unsolicited Ratings, or publishing Indices, Standard Ethics Ltd does not supply financial, legal, tax or investment consultancy. The opinions and analyses by Standard Ethics Ltd are not, even indirectly, invitations or solicitations to purchase or sell securities or to make investment decisions. Under no circumstances will Standard Ethics Ltd be liable for damages to, loss, or reduction in the value of shares of companies following or as a result of its analyses, its Indices or Ratings.

Standard Ethics Ltd will be held harmless against any responsibility arising from the use by costumers and/or its assignees of the information and data related to its Standard Ethics Rating. In particular, Standard Ethics Ltd is not answerable in any way whatsoever for any decisions and/or assessments made by companies on the basis of the above-mentioned data related to the Rating service. The Standard Ethics Rating is for information purposes only and companies under Rating will be wholly responsible for any decision made on the basis of the information arising from the Rating itself.
In no event shall Standard Ethics be liable to any party for any direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees, or losses (including, without limitation, lost income or lost profits and opportunity costs or losses caused by negligence) in connection with any use of its opinions, analyses and ratings.

The Standard Ethics Rating, if there are no others indications, is valid for twelve months from the date of issue. Standard Ethics reserves the right to modify, suspend or revoke at any time and irrevocably a previously assigned Rating.

The SER can be renewed by requesting annual visits by Standard Ethics’ analysts without having to start the entire assignment procedure again. Unless updated, the Rating’s validity ends on its natural expiry date, at which point the Client loses the right to use and publicise the Rating.
The final decision on changes to, or suspension or revocation of, the Rating will be communicated to the Client in writing and in a confidential manner. There will also be a request to bear the changes, suspension or revocation in mind in related company communications if the SER had been made public. If the Client does not adequately publicise the changes to the public SER, Standard Ethics reserves the right to make the changes, suspension or revocation known.