SRI News in Europe & Elsewhere
July 2007
ABP and PGGM focused on returns in sustainable investment
ABP and PGGM, the largest pension funds in the Netherlands, say they expect to see real returns on investments in sustainability and social causes. They have both increased their stake in Dutch bank Triodos to over 5%, as part of the bank’s recent release of over one million new shares. The bank currently finances companies and projects in organic farming, sustainable energy, healthcare, microfinance, culture and fair trade.
PRI Report on Progress 2007 released at Geneva event
According to a report released on July 3rd by the Principles for Responsible Investment (PRI), a comprehensive survey of the world’s largest institutional investors shows that the global giants of investing are now actively integrating environmental, social and governance (ESG) issues into their investment policies and engagement strategies. 88% of investment manager signatories to the PRI are conducting at least some shareholder engagement on ESG issues, while 82% of asset owners are doing so.
The 2007 SB20: World’s Top Sustainable Stocks announced
The SB20 list, now in its sixth year, is comprised of the 20 most innovative companies, large and small, that are having an important impact on creating an environmentally sustainable society. To choose the 20 companies that make up the list, SustainableBusiness.com partnered with KLD Research & Analytics. KLD provided a preliminary universe of 50 global companies with strong “green” initiatives and solid financials. KLD also served as a judge along with five leading green investment analysts to decide on the final list.
Read full press release and list of 20 companies
Mercer Investment Consulting expands its global Responsible Investment team in UK
Mercer Investment Consulting has added three people to its global Responsible Investment business in London, bringing the team to nine professionals. Danyelle Guyatt will focus on intellectual capital development, consulting and research. Rachel Whittaker joins as a manager researcher dedicated to responsible investment. And Rebecca Dixon joins Mercer’s European responsible investment team as an associate.
Responsible Investor: new SRI web site launched
On July 12th Responsible Investor was launched marking the first environmental, social and corporate governance web site focusing exclusively on the information requirements of institutional investors. It aims to inform a global investment community that is increasingly aware of the need to balance investment returns with environmental sustainability, social concerns and best practice in corporate governance.
http://www.responsible-investor.com/
China Cleantech Venture Capital Investment Report™’ notes Cleantech boom in China
The Cleantech Network™, announced that Chinese cleantech venture capital investment is expected to rise dramatically in 2007 to US $580 million and will surpass $720 million in 2008. Additionally, the company’s China Cleantech Venture Capital Investment Report states that cleantech investment in China increased 147% from 2005 ($170 million) to 2006 ($420 million) and that Q1 2007 cleantech investment in China totaled $154 million.
GreenMoney Journal's special 15th Anniversary issue (Summer 2007) now available
GreenMoney Journal has produced a special summer 2007 edition with interviews of several visionary leaders in the SRI world who discuss their views on SRI and business over the next fifteen years. According to some, the next 15 years will see the full integration of Environmental, Social and Governance (ESG) issues into financial analysis and corporate decisions to reflect a triple bottom line.
Finnish church adds SRI
Following its new guidelines for responsible investing, the €700 million fund, which is the pension fund for the Evangelical Lutheran Church of Finland, is aiming to build SRI into the portfolio. They are requiring fund managers to incorporate SRI principles into the investment process.
SRI Market: SRI Mystery shopping
Test Aankoop/Test Achats, the Belgian consumer organisation, conducted a practical test on the supply of SRI products and on the way these products are being marketed by Belgian financial institutions. In February 2007 the organisation sent anonymous pollsters to 29 financial agencies, to do some mystery shopping, looking for sustainable investment that suited the shoppers demand. The shoppers mentioned a budget of approximately 20,000 EUR, with an investment horizon of 5 years. The investment advisors almost never provided information on the sustainability content of the investments. They focused on the financial aspects. The investment advisers of 13 of the 38 bank offices did not know who did the ethical/sustainability management of the portfolio, nor did they know how (external) control could contribute to the investment. Forum ETHIBEL and Vigeo are now trying to tackle this lack of knowledge.
