Newsletter May 2006

ABN AMRO Asset Management launched two new SRI funds in April

The Sustainable Global Credit Fund and the Brazil Equity Fund. Both funds are currently only available to institutional investors but will be available to retail investors across Europe as local registrations become available. https://www.asset.abnamro.com/portal/index.jsp

ABN AMRO Asset Management also became founding signatories to the UN Principles for Responsible Investment

For more information, contact David Morrow, Global SRI Product Specialist at +44-0207-678-7617.

Bank Sarasin publishes new study on the textiles industry

The report examines sustainability in major sporting goods manufacture, looking at both supply chain and environmental impact issues. Visit: http://www.banksarasin.com/sarasin/show/news/news_main/1,1066,201-0-1,00.html.

Calvert Announces New Senior Vice President for Social Research and Policy

Calvert, the nation's largest family of socially responsible mutual funds, announced today that Bennett Freeman, formerly head of the Global Corporate Responsibility practice at Burson-Marsteller, and Deputy Assistant Secretary of State for Democracy, Human Rights and Labor, joined the firm as Senior Vice President for Social Research and Policy. http://www.calvert.com/

Dexia appoints new member to Executive Committee

Wim Vermeir, presently Global Head of Equity Management and responsible for Sustainable Investments, has been appointed member of the Executive Committee of Dexia Asset Management in which he has taken responsibility for Traditional Investment Management with effect from 30 April 2006.

EIRIS says: Most chemical firms making only limited progress on managing chemical safety and sustainability risks

Global sustainable investment specialists EIRIS have released a report analysing the challenges posed to chemical companies by chemical safety and sustainability. The report comes at a time of mounting concern over the increasing presence of chemicals in every-day products and as the European Union prepares to implement the Registration, Evaluation and Authorisation of Chemicals (REACH) regulatory framework. For a full copy of the report visit: http://www.eiris.org/Files/Research/beyondreachmay06.pdf

Sam Collin appointed to EIRIS/UKSIF Charity Project post

Sam has been appointed to run this project, which works with the charity sector to build SRI understanding and expertise. She is based at EIRIS with UKSIF providing her Advisory Group. Sam worked for seven years at the New Economics Foundation as a researcher and project manager in areas including ethical consumerism, community finance and social enterprise. More recently she worked for Volunteer Centre Greenwich to encourage greater involvement in employer supported volunteering. Contact sam.collin@eiris.org .

Ethos-Pictet process selected for French retirement fund (FRR) SRI mandate

Pictet Asset Management was selected to manage one of the 5 SRI mandates for FRR. Ethos and Pictet Asset Management jointly developed the investment process for this mandate. Ethos is the advisor for Pictet for social and environmental analysis as well as shareholder voting.
http://www.ethosfund.ch/f/news-publications/news.asp?code=143

Ethix has signed the Principles for Responsible Investment at the launch in Paris

As of May 2,2006 Ethix is a signatory to the Principles for Responsible Investment. As such, they acknowledge the relevance of Environmental, Social and Governance (ESG) issues to investment management. They are also committed to providing services that support the implementation of the Principles by clients, and to improving such services over time. For more information, contact Ulrika Hasselgren or Tord Carnlöf.
For more information about the principles, visit http://www.unpri.org./

Ethix Advisor to New SRI Emerging Markets Fund

The Danish asset manager BankInvest has set up a global emerging markets fund "BI Global Emerging Markets Equities SRI". The fund applies positive criteria based on Norm Based Screening - advised by Ethix SRI Advisors. The Swedish research foundation Mistra is the first investor in the new SRI Emerging Markets Fund. Read more at http://www.ethix.se/

Al Gore launches movie on climate change

Generation IM’s Chairman Al Gore is featured in a recent film he helped bring to life entitled An Inconvenient Truth . It has just been released in the US and is due out in theaters around the world later this summer.

Henderson publishes its findings on overindebtedness and responsible lending

Since March 2005, Henderson has been investigating UK banks’ approach to responsible lending and bad debt. It wrote to the Chief Executives of high street banks and met with the banks to explore issues in depth. Its findings are available at www.henderson.com/home/uk/governance/corporate_responsibility/responsible_lending.asp.

Insight Investment publishes new set of briefings on its website

The new briefings cover topics including; corporate governance and financial performance, health and safety, the role of the board in governing corporate responsibility, climate change, voting disclosure, obesity, pesticides and environmental technology. They are available at www.insightinvestment.com/responsibility/articles/articles.asp.

KLD (USA) and SHINKO ITM (Japan) Announce the First Environmental Index Fund in Japan

SHINKO ITM's new Chikyu Ondanka Boushi Kanrenkabu Fund is indexed to KLD's Global Climate 100 Index, the first global index focused on solutions to climate change. The Chinkyu Ondanka Boushi Kanrenkabu Fund – nicknamed "Chikyuryoku" (and whose full Japanese name is translated as "Global Warming Prevention Equity Fund"), maximizes investors' exposure to global companies taking steps to commercialize renewable energies such as solar and wind, future fuels such as natural gas and hydrogen, and innovations or applications of new technologies that help reduce emissions of greenhouse gases. http://www.kld.com/

First ETF to track the Dow Jones EURO STOXX Sustainability 40 Index

A new licensing agreement between Indexchange, Dow Jones Indexes, STOXX Ltd. and SAM Group means financial products on the Dow Jones Asia/Pacific Select Dividend 30 Index, the Dow Jones China Offshore 50 Index, and the Dow Jones Euro STOXX 40 Index will serve – for the first time - as underlying for exchange traded funds. Download the press release

Schiffrin & Barroway LLP discuss European investors winning corporate governance reforms through shareholder litigation

Schiffrin & Barroway advocate that as leaders of the active ownership movement, European institutional investors should continue and expand their use of the tools available to them in order to achieve their goals. Download the article

WWF launches SRI fund

WWF this month launches an umbrella fund with PhiTrust Finance, investing in companies that have a proactive commitment to environmental and social issues. Living Planet Fund - Equity is the first mutual umbrella fund invested on the international share market. http://www.phitrust.com/article/article_seul.asp?NumArticle=227

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