Feature Articles
'The customer is always right’ – not according to our financial institutions
by Brian Harrison Spence, economie
‘One would expect
ethical and Socially Responsible Investment (SRI) to be a mass market
phenomenon with incredible bargaining and influencing power at
the highest level. In reality the market share for ethical and socially
responsible investment rarely totals more than 9%. Why then is it that
even though every survey over the past decade indicates conclusively
that the majority of us would rather invest in a way which more
adequately reflects our own personal value system – as long as the
performance is at least as good as the mean for standard forms of
comparable investment - that so few funds are available and even fewer
investment companies are providers of these products?’
Click here to read the whole article.
Click here to read the whole article.
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Cleantech Private Equity Slows
posted at Red Herring
'Worldwide private equity investments in clean energy have slowed so far in 2006, while venture capital investments are up about 64 percent, according to a report released Tuesday. Private equity deals totaled $2.05 billion through the end of May, averaging about $409.8 million per month, according to a report from New Energy Finance, a London-based research firm. That compares with private equity volume of $5.69 billion for the full year of 2005, or an average of about $474 million per month.'
Click here to read the whole article.
Feature articles focus on current trends and investment opportunities in the field of SRI, TBLI and Corporate Governance, offering a source of new information and insights.
Do you have an idea for an article, or would like to submit an article for publication? Please send a letter to the editor.
Columns
Fox News is My Hero
by Robert Rubinstein
Often the task of getting financial
institutions to embrace and integrate sustainability into their
organizations seems hopeless. Rolling that stone up the hill seems, at
best, folly, and at worse,useless. We all have experienced challenges
that seem to drain us and leave us without any energy to carry on.
Recently, I discovered the best solution. When I feel drained or down
in the dumps because everything seems impossible, I turn on the
business show of Fox News for a challenge. It is a miracle worker.
After watching that for 5-10 minutes I am completely reinvigorated.
I look at the business programs and see financial clones who supposedly know all the answers, are always right, and show no interest, understanding, or any feeling for corporate goals other than short term profit. They openly advocate for maximum exploitation, no accountability for externalities, and display a blatant manipulation for the purposes of a reactionary political agenda. First, I become rather upset when everything is about the terrorist threat, not the global climate threat. Then my anger turns to energy, and then it turns to motivation to get back to the business at hand: creating an economy that is based upon well being.
Fox News provides an invaluable service. It reminds the sustainability community that we are in a ghetto. That in spite of all the success, money flows, commitment, research, regulation, and the growing financial herd embracing extrafinancial criteria, we are still working under highly segregated conditions. The messages of 'wealth generation at any cost' are the ones being communicated and heard by most people. Finally, the most important point is that the alternative messatge to the status quo corporate behavior, one that generates social, environmental and financial returns, never reaches most people. It is only the Fox News message being repeated and embraced. Frightening.
That thought is the greatest motivation. So, if you are feeling down, put on Fox News and get rejuvenated. Thanks Rupert! You made my day.
“I find television very educating. Every time somebody turns on the set, I go into the other room and read a book.”
- Groucho Marx
I look at the business programs and see financial clones who supposedly know all the answers, are always right, and show no interest, understanding, or any feeling for corporate goals other than short term profit. They openly advocate for maximum exploitation, no accountability for externalities, and display a blatant manipulation for the purposes of a reactionary political agenda. First, I become rather upset when everything is about the terrorist threat, not the global climate threat. Then my anger turns to energy, and then it turns to motivation to get back to the business at hand: creating an economy that is based upon well being.
Fox News provides an invaluable service. It reminds the sustainability community that we are in a ghetto. That in spite of all the success, money flows, commitment, research, regulation, and the growing financial herd embracing extrafinancial criteria, we are still working under highly segregated conditions. The messages of 'wealth generation at any cost' are the ones being communicated and heard by most people. Finally, the most important point is that the alternative messatge to the status quo corporate behavior, one that generates social, environmental and financial returns, never reaches most people. It is only the Fox News message being repeated and embraced. Frightening.
That thought is the greatest motivation. So, if you are feeling down, put on Fox News and get rejuvenated. Thanks Rupert! You made my day.
“I find television very educating. Every time somebody turns on the set, I go into the other room and read a book.”
- Groucho Marx
Angel of the Month
Our Angel of the Month is my closest friend. She has always been an angel for everyone, but this past month she surpassed herself. By jumping in at the last minute to help organize the first TBLI Asia Conference in Bangkok, she rose to the occasion and surpassed it. Rieki (pronounced as 'Ricky') was absolutely spectacular.
Her ability to work with everyone is due to her fundamental love and respect for humanity. Everything went so smoothly and effortlessly. We made many new friends in Asia and that was due to her warmth, grace, and her willingness to make people feel welcome. I remember one of the guests came up to her, someone she never met, and complimented her for doing such a marvelous job. Best event he ever attended. He added "your doing god's work". She always has.
I want to put her in the spotlight, finally. My better half and significant other and 'Angel of My Lifetime': Rieki Crins.
News
Socially Responsible Investment
Bank of China Launches First Chinese SRI FundSRI community ‘falling down on communications’
UK’s
First SRI Online Examination Course
Around Asia's Markets: New fund in Hong Kong to go green
GE Ecomagination Revenues Cross $10 Billion
Screening & Reporting
Norwegian government fund excludes Wal-Mart
Investors blend ethics with experience
New Funds Offer Charitable Donations, Fewer Restrictions
Investing on Faith
Corporate Social Responsibility
Corporate Social Responsibility: What the Smart CEO Needs to Know
Investors Seek Meeting with ExxonMobil Execs over Climate Policy
Corporate Governance
UCLA's Olian lauds corporate governanceCorporate governance: drawing foreign capital to emerging economies
Corporate Governance on the Minds of Investors Worldwide
Climate Change
Adaptive Capacity to Climate Change May be Overestimated
Alternate energy' increasingly mainstream
Europe
urged to help save climate
The
Pursuit of Energy Security and Diversity
Study: Clean Air, Global Warming Mean More Hurricanes
Dutch Flower Growers Get Greener
Miscellaneous
It's
Nearly Lights Out for PG&E's Solar Power Buybacks
Corporate Social Responsibility Cuts Both Ways
When Vice is Nice: Sin-vestments are on a Joyride
We select a variety of current news items hosted at third-party websites that cover a broad range of issues from different perspectives around sustainable finance and asset management, corporate social responsibility, climate change, and corporate governance. Some sites require registration and links may go stale over time. Please let us know if there is a story we should include in next month's newsletter.
Do you have a comment or reaction on any of the material presented in the Newsletter? Send a letter to the editor.
Publications
ADVANCE Survey: Sustainable Value of European Industry
by the ADVANCE Project Team (click here for team listing)“This study provides an essential tool for investment analysts and policy-makers to evaluate the relative financial returns on the use of environmental capital between sectors and companies. ADVANCE (Application and Dissemination of Value-Based Eco-Ratings in Financial Markets) is an international project supported by the LIFE Environment programme. (Full information available at http://www.advance-project.org) ADVANCE applies the Sustainable Value-concept on a large European scale for the first time. The Sustainable Value-concept allows to assess and to manage sustainable performance similar to economic performance. For this purpose it makes use of the tools and techniques used in the financial markets to assess and manage economic capital.”
Quarter 1, 2006 NEX Review, New Energy Finance Public Market’s Briefing (PDF Download)
by New Energy Finance (http://www.newenergyfinance.com)In the last few trading days of the first quarter, the WilderHill New Energy Global Innovation Index (NEX) broke through the 270 mark to close at 270.63 on 29 March 2006. Overall, the NEX gained 25.3% or 54.62 points in the first quarter of 2006. Increased investor appetite for clean energy stocks, rising oil and gas prices, and a series of high-profile public policy announcements all contributed to the positive performance.
The Conservative Nanny State: How the Wealthy Use the Government to Stay Rich and Get Richer (PDF Download)
by Dean Baker“This book debunks the myth that conservatives favor the market over government intervention. The book examines a variety of "nanny state" policies that make the rich richer while leaving most Americans worse off. Baker, co-director of the Center for Economic and Policy Research, candidly rejects current political truisms, proposes alternatives, and encourages readers to openly debate the way forward.”
Small and Medium-Sized Enterprises (SMEs) and Corporate Social Responsibility: A Discussion Paper (PDF Download)
by Tom Fox, International Institute for Environment and Development (IIED).“The concept of corporate social responsibility (CSR), broadly defined as the overall contribution of a business to sustainable development (SD), should therefore be equally valid for large and small enterprises. But the focus in discussions on CSR tends to be on the largest companies; small- and medium-sized enterprises (SMEs) are often overlooked.”
Does
Globalization Benefit the Poor? (PDF Download)
by NEF
This bold and controversial report argues that globalization is
failing the world's poorest as their share of the benefits of growth
plummets, and that accelerating climate change hurts the poorest most.Women & MBAs (PDF Download)
by The Aspen Institute, Business & Society ProgramDespite concerted efforts by business schools to attract women to their MBA programs, women are underrepresented in these degree programs. Enrollment of women rarely exceeds 30% - compared with over 40% in medical and law schools..
The MBA's Climate Change Primer (PDF Download)
by Stanford Graduate School of BusinessCleantech Venture Capital Report 2006
by CleanTech Venture Network, USD $495.00A comprehensive review and analysis of cleantech venture investment activity. Covers $7.3bn of North American cleantech venture investments between Q1 1999 and Q2 2005.
Responsible Investment
Edited by Rory Sullivan and Craig MackenzieFebruary 2006, 382pp, ISBN 1 874719 03 9,GBP45.00/USD85.00
Most investment today is conducted by a relatively small number of institutional investors — pension funds and investment managers — who manage the pensions and saving funds of millions of ordinary people. The manner in which these institutional investors invest and discharge their responsibilities as the owners of companies is, therefore, of critical importance to society as a whole.
