Newsletter May 2006

FIR (Forum pour l’Investissement Responsable) – France

FAIRE: Annual Forum for European Responsible Investment to be held on June 22 & 23 in Paris

The French SIF is proud to announce the fourth edition of the FAIRE (Annual Forum for European Responsible Investment), a Meeting of Socially Responsible Companies and Investors.

• 1.5 days (June 22 ^nd & 23 ^rd 2006),
• 3 theme based round tables (human rights, mobility challenges, scenarios & implications and environmental liabilities),
• 11 company presentations, of which 7 are European companies ( Anglo American, Arcelor, Arcelor Real State, Areva, Castorama France, CIBA, Deutche Post, Kingfisher, PSA Peugeot Citroën, Renault, Toyota Motor Europe) ,
• More “one-to-one” sessions than in previous years.

The FAIRE is an event that is reserved for professionals in finance, socially responsible investment and institutional investors. Due to a limited number of spots available, it is imperative to register: email or call +33 (0)872 164 065.

FIR European Research Award 2006

In order to support and give value to research in France and in Europe, the French Social Investment Forum (FIR), supported by Eurosif, has decided that each year it would reward research projects that contribute to the development of knowledge in the field of “Finance and Sustainability”.

The best PhD, the best Master's thesis and the best article will each be granted €5000 prizes. In addition this year, two research grants of €3000 each will be awarded in two fields : “Financial instruments as a response to sustainable development challenges” and “Finance and social issues”.

Submissions will be expected over the summer (deadline October 1 ^st, 2006) and the award ceremony will take place on December 4th, 2006 in Paris.

For more information: French SIF web site / For submissions: award@frenchsif.org

The FIR welcomes new corporate members as well as its first permanent staff member

In less than a year, the FIR has grown its corporate membership to 18; our corporate members represent the most important players in the French SRI community:

AGF Asset Management, AXA Investment Managers, BNPParibas Asset Management, Crédit Agricole Asset Management, Crédit Mutuel - CIC Asset Management, Ethifinance, Fortis Investments, HSBC Halbis, Innovest Strategic Value Advisors, Macif Gestion, Meeschaert, Mercer, Sarasin Expertise, SGAM, Vigeo, WestLb

Since December 2005, the FIR has on board a part time permanent staff, Sergio Gurevich. A lawyer by education, Sergio, who is 54, holds also a Doctorate degree in Development Law as well as in CSR Management. His Master’s thesis reviews the state of effective implementation of the Equator Principles among its signatories.

FNG (Forum Nachhaltige Geldanlagen) – Germany

The German version of Eurosif’s Pension Fund Toolkit has been released. You may download it from Eurosif’s web site .

VBDO (Vereniging van Beleggers voor Duurzame Ontwikkeling) – Netherlands

Sustainable Voting Advice by VBDO

For the second consecutive year, VBDO has provided its members with a sustainable voting advice. Amongst the companies that were included in the advice are Philips, ING, Unilever and Shell. This year, VBDO has extended its sustainable voting policy, which now covers all topics that are normally covered on a general shareholder meeting. The project turned out to be a highly interesting learning experience and VBDO is pleased with the results.

Every member of VBDO can use this voting advice according to their own interpretation but of course VBDO hopes that its members followed the advice as it was provided. Some private members authorised VBDO to vote according to the VBDO voting advice on their behalf. More information (in Dutch) is available at http://www.duurzaamstemmen.nl/

Quick Scan SRI Dutch Pensionfunds

VBDO has conducted a SRI Quick Scan for the Dutch Pensionfunds. This Quick Scan shows the results of a study conducted on the 2004 annual reports of Dutch pension funds. The primary goal of the research was to determine the status of pension funds transparency regarding SRI in 2004 and whether it has improved compared to 2003. The second goal was to make an estimate (if possible) of the volume of SRI investments by Dutch pension funds. The third goal was to highlight the frontrunners and to explain why they can be regarded as such. Download the report.

UKSIF (UK Social Investment Forum) - United Kingdom

UKSIF awarded Carbon Trust funding for feasibility study on low carbon asset finance

UKSIF has been awarded funding from the Carbon Trust Networks Programme for the project “Accelerating the financing of low carbon assets”. This will deliver a feasibility report on accelerating the acquisition and use of low carbon assets (business equipment and energy-related assets) by mainstream businesses and the voluntary sector, working with providers of lending, asset finance and project finance and associated securitisation. UKSIF is delighted to be the first investment sector body funded by this Carbon Trust programme. Contact penny.shepherd@uksif.org.

Universal Ownership conference papers by UKSIF members and associates now available

In April 2006 a conference entitled “Universal Ownership: Exploring Challenges & Opportunities" was hosted by the Centre of Fiduciary Capitalism at St Mary's College of California in partnership with Mercer Investment Consulting. Conference papers available include those authored by Matthew Kiernan (Innovest), Simon Thomas (Trucost), Raj Thamotheram (USS), Helen Wildsmith (ex-UKSIF) and Robert Monks (UKSIF Annual Lecturer 2002). They can be found at http://www.fidcap.org/.

Steve Waygood appointed as new UKSIF chair

The UKSIF Board has appointed Steve Waygood to take over from Emma Howard Boyd as UKSIF’s Chair from Monday 3 April. Steve was previously UKSIF Vice-Chair. He is Director, Investor Responsibility with Insight Investment and has worked at Friends, Ivory & Sime (now F&C) and WWF. For further details contact penny.shepherd@uksif.org.

Anne Desgagniers appointed as UKSIF’s Sustainable Pensions Procurement Adviser

Anne is joining UKSIF from 3 April to deliver UKSIF’s new work programme, which encourages occupations pension funds to support the delivery of the low carbon economy and sustainable development by using their supply chain pressure to encourage more environmentally responsible corporate behaviour. Anne’s professional background is in the private sector having worked in business development and corporate and commercial law. She also recently completed a project for USS. She can be contacted at anne.desgagniers@uksif.org.

US SIF – United States

2006 Shareholder Resolutions Emphasize Climate, Toxics, and Donations

Social, environmental and corporate governance shareholder resolutions are seeing another robust year in 2006, according to the Social Investment Forum.

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