Member affiliate news
Newsletter June 2006
New Member Affiliate
Caisse des Dépôts joins Eurosif
Caisse des Dépôts is a long-term investor. It holds strategic assets directly or indirectly through designated companies, finances public interest programs and invests its resources to promote economic development. These investments total €38 billion. Through its subsidiaries and strategic equity interests, Caisse des Dépôts is a leading player in private equity, public transportation and transportation infrastructure, the leisure industry and real estate businesses. Caisse des Dépôts is the leading shareholder in CNP Assurances.
http://www.caissedesdepots.fr/GB/index.php
Member Affiliate News
Bank Sarasin publishes new study on the Trading, Distribution and Retailing industry
Bank Sarasin published a report about the sustainability of the environmental and social challenges in Trading, Distribution and Retailing. Some key findings: Sustainability pays in the medium to long run and disregarding the issue can be detrimental. Companies begin to notice purchasing power leverage they have on supply chains, and even develop cooperative strategies to produce win-win improvements. These are credible, while code auditing only is in contradiction with the cost pressure they exert. Companies surprisingly appear hardly conscious of the share of eco-improved and fair-trade merchandise in their business. The full report can be ordered by email: sustainability@sarasin.ch
F&C warns of the climate impacts on the insurance sector
In anticipation of the 2006 hurricane season, which officially began on June 1st, leading investor F&C Asset Management has turned its attention to climate change and its implications for the world’s leading insurance companies.
http://www.fandc.com/newsDetail.asp?newsID=521
FEE calls for a specific international standard on sustainability assurance
The European Federation of Accountants (FEE) recently published a paper in the Sustainability Assurance series. In publishing this work, FEE has concluded that there is a need for a more specific international standard for assurance on corporate social responsibility reports. FEE has called on the International Federation of Accountants (IFAC) to build on the current national standards in this area and to develop an international standard for sustainability assurance. FEE recognises the overall importance of, and strongly supports, the current major project to clarify the International Auditing and Assurance Standards Board (IAASB) Engagement Standards, which requires considerable resources and priority.
http://www.fee.be/
HSBC Investments new “Sustainability Leader” fund signs up to Eurosif’s Transparency Guidelines
HSBC Investments launches the “HSBC GIF Sustainability Leader”, a new equity SRI fund of European multinational companies. The portfolio of this truly innovative investment product is composed of around 40 stocks that are selected from the reduced SRI universe, according to strictly financial criteria. These stocks are considered by HSBC as the leaders in the sustainable development. The objective of this actively managed fund is to gear towards outperforming the European equity markets performances. HSBC Group donates a significant portion of the management fees to LEAD, an international non-profit organisation focused on leadership and sustainable development.
Read their response to the Transparency Guidelines.
Insight releases report on Climate change and Utilities
In June 2006, Insight Investment released a report entitled "The Climate Change Disclosures of European Electricity Utilities", prepared by Rory Sullivan and Jennifer Kozak. The report highlights the issues with the climate change related information provided by electricity generation companies, noting that it is, as a result, extremely difficult to assess the investment implications of climate change for this sector. The report sets out Insight's expectations for electricity utilities' disclosures in this area and highlights examples of good practice in reporting.
http://www.insightinvestment.com/Documents/responsibility/Climate_Change_Disclosures_Report.pdf
SAM & Société Générale: Invest in bioenergy with BIOX
SAM Group, Société Générale and Dow Jones Indexes are launching the World Bioenergy Index (BIOX). This new index comprises the world's biggest companies in the field of bioenergy and gives investors the chance to benefit from this rapidly growing market.
http://www.sam-group.com/htmle/main.cfm
SiRi deals with responsibilities of banks to mitigate climate change: a study into climate change best practices amongst banks
SiRi Company network partner Dutch Sustainability Research (DSR) recently published a report with best practice guidelines for commercial banks to mitigate climate change. The guidelines aim to provide a reference framework for banks in order to reduce direct CO2 emissions from operations and, more importantly to reduce their indirect CO2 emission caused by their clients’ operations. The report was commissioned by Milieudefensie - Friends of the Earth Netherlands.
To download the full report, please visit www.siricompany.com/news.shtml
Vigeo integrates Avanzi SRI Research into Vigeo Group
On 21 June 2006, Vigeo’s Board of Directors approved the principle of the joining of forces of the two companies, which should be finalised by the end of 2006, subject to the results of due diligence. The integration of Avanzi SRI Research into Vigeo would take place via a share swap. Joining Paris, Brussels and Casablanca, Milan would become the fourth office of Vigeo Group.
www.vigeogroup.com
