Globalance Footprint
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The Tax Strategy score of this Portfolio is 66
Tax Strategy
The Globalance Footprint® shows you the impacts of these assets around the world - individually and at a glance. Our framework is simple and objective. Using nine themes, we assess your contribution to sustainable foundations for economic prosperity, the future viability of society and the preservation of our natural resources.
66
Tax Strategy
5%
of this invested capital features an adverse footprint in Tax Strategy.
27%
of this invested capital features a balanced footprint in Tax Strategy.
68%
of this invested capital features a positive footprint in Tax Strategy.
What's at stake
Companies legitimately optimize their taxes worldwide. In some cases the pendulum has swung too far. In other words: tax avoidance strategies lead to certain companies paying no or almost no taxes. International organisations such as the OECD or the G-20 are looking for new international rules for a more sustainable corporate tax policy, such as global minimum tax rates for large corporations.
Tax Strategy Scores of your Assets
Portfolio Footprint Score
Data source: Globalance
What am I looking at?
The graph shows you the score for each asset. The shape of each asset is its stylized Footprint-Profile.
Asset Name | Tax Strategy | Economy | Total Footprint | % of portfolio | |
|---|---|---|---|---|---|
| Zions Bancorporation, N.A. | 100 | 54 | 48 | 0.0% | |
| Xcel Energy Inc. | 100 | 61 | 58 | 0.1% | |
| WEC Energy Group Inc | 100 | 55 | 52 | 0.1% | |
| Verizon Communications Inc. | 100 | 74 | 69 | 0.5% | |
| UnitedHealth Group Incorporated | 100 | 58 | 59 | 1.4% |
Why does it matter
Global Challenges
Too aggressive tax strategies lead to large tax losses for the countries concerned.
If fairer international rules of the game cannot be negotiated, globalization will be further challenged.
Political tensions in international organisations are increasing.
Global Goals
Appropriate tax payments by international corporations are accepted politically and socially as fairer.
An international consensus is emerging on how to treat digital business models with regard to taxes.
A consensus is emerging at international level on global minimum tax rates for companies.
Relevance for Investors
Tax optimization is not only a legal and economic but also a societal matter. From a sustainability perspective, it therefore makes more sense to lend a hand in a global reform of corporate taxation, also for reasons of global solidarity. Even Facebook boss Mark Zuckerberg announced during a visit to the EU that he would support the revision envisaged by the OECD and that in future he would pay more taxes in Europe. We are therefore only investing in companies that seek this balance and do not run the risk of becoming the target of controversy by acting too aggressively. In principle, we obtain data that document the regional distribution of taxes paid by all companies. This involves determining the size of the gap between the current actual distribution and the theoretical target distribution (according to turnover distribution and OECD rules). The larger the gap, the greater the risk of (expensive) controversy ("court of law versus court of public opinion"), the lower our score for tax strategy.