November 2006

New Member Affiliates

Forética joins Eurosif

Forética is a non profit multistakeholder organization working on promoting ethical and socially responsible policies. They work with companies and institutions at the core of their corporate values. Based in Spain, their seven years of experience advising businesses have produced solid frameworks for auditable management systems. More info.

The Good Bankers joins Eurosif

The Good Bankers Co., Ltd. was established in 1998 by Ms. Mizue Tsukushi and her highly motivated female friends who wanted to apply their experiences in the financial service industry to solve the environmental and social problems. It was the first and only independent investment advisory company in Japanese history, fully devoted to social investment research, and has always been in the leading position in Japanese SRI industry ever since. More info.

Member Affiliate News

Dexia Asset Management publishes “Looking Ahead”

This quarterly newsletter focuses on SRI and sustainability analysis. To access it, click here . To subscribe, please contact: investor.support@dexia-am.com

EIRIS report highlights new opportunities for SRI in emerging markets

EIRIS published in late September “Broadening horizons for responsible investment: an analysis of 50 emerging market companies” which reveals significant potential opportunities for responsible investment in some emerging markets. A clear majority of companies included in the study show some evidence of addressing environmental, social and governance issues with certain companies giving significant consideration to ESG issues. http://www.eiris.org/

Ethix publishes their thoughts on responsible investment and nuclear weapons

According to the document, even though nuclear weapons have not been outlawed, there is a clear ethical imperative for avoiding investments in companies involved in production and maintenance of nuclear weapons. http://www.ethix.se/

Ethos publishes a study on Executive Pay

Ethos conducted an in-depth study of executive pay among Switzerland’s 100 largest listed companies. The study has three complementary parts. The first examines remuneration policy in the perspective of international best practice, the second part analyses actual remuneration on the Swiss market in 2005 and the third part assesses the state of executive pay in the main listed companies in Switzerland. More info

FEE welcomes the publication by the European Commission of a study on auditors’ liability undertaken by London Economics.

Based on an analysis of the audit market and the insurance market for audit services, the London Economics report identifies consequences of the current regime which could raise serious problems for capital markets and the availability of capital generally. The European Accountancy profession expresses confidence that the London Economics study will highlight the necessity for each EU Member State to address urgently the problem of auditors’ liability. www.fee.be

Fortis Investments to create an SRI team in Frankfurt

Fortis Investments has set up a dedicated SRI team as an independent investment center in Frankfurt. Stewart Armer, product CIO has moved from Paris to Frankfurt together with an international team of colleagues from Germany, Bulgaria and France. The team is expected to extend to eight to ten people during 2007. The strong market potential for SRI in Germany motivated the move. www.fortisinvestments.com

FTSE engagement with Novartis pays off

The FTSE4Good Breast Milk Substitutes Marketing Criteria were developed three years ago and are based on the WHO Code. FTSE has been engaging with the companies in the infant food and formulae sector to encourage them to meet these criteria. Gerber, the infant food division of Novartis, has made year-on-year improvements and the independent FTSE4Good Committee has now brought them into the FTSE4Good Index Series. They are the first company to meet the Breast Milk Substitutes Marketing Criteria. www.ftse.com

The Global Exchange for Social Investment (GEXSI) and VantagePoint Global publish the final report “SIRIF Investment Risk Study”

The SIRIF study – an analysis of development investment risks and risk mitigation mechanisms – identified and tested risk mitigation mechanisms that could catalyze an increase in private sector capital in small and medium size enterprises and social enterprises (SMEs) in emerging markets. To download the report click here.

KLD and Mergent Partner launched new KLD Dividend Achievers Social Index

The Dividend Achievers Social Index (DASI) is the first benchmark for US equity portfolios meeting investor demand for both environment, social and governance performance and dividend growth. Back tests of the DASI show increased performance and lower volatility compared to an appropriate market benchmark and provides at the same time an above market yield and greater small and mid cap diversification than most socially responsible indexes. www.KLD.com

SAM and Julius Baer launch first Climate Certificate

To tie in with the SAM roadshow «Climate Change – Opportunity or Risk for Investors?», Julius Baer and SAM are launching the first climate certificate on the JB SAM Climate Change Basket. www.sam-group.com

Schiffrin & Barroway and USS publish “US Shareholder Litigation: A Primer for European Institutional Investors”

The primer is designed to help investors in developing an understanding of class and other legal actions and to help investors consider a system to monitor and evaluate them. More info

TUAC and other Trade Unions publish “Trade Union Climate Change Strategies”

A report from trade unions for the 12th world climate change conference in Nairobi calls on Governments to entrench green production and sustainable workplaces at the centre of their negotiations. Their joint report “Trade Union Climate Change Strategies” was issued by the International Trade Union Confederation (ITUC), European Trade Union Confederation (ETUC) and Trade Union Advisory Committee to the OECD (TUAC). More info

VIGEO and OEKOM selected by ERAFP to support its SRI investment policy

Following a European-wide tender, the organization that manages the supplementary pension scheme for 4.6 million French civil servants, has selected VIGEO and OEKOM Research to support its socially responsible investment (SRI) policy. ERAFP has decided to implement an ambitious SRI policy for 100% of its assets. Assets under management will amount to €8 billion by 2010, starting at €1.5 billion. www.vigeogroup.com

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