News from Eurosif Member Affiliates
March/April 2007
New Member Affiliates
Groupama Asset Management joins Eurosif
Groupama AM uses a dynamic approach to identify companies using sustainable development best practices, but also companies that will become the main actors in this area in the future. For Groupama AM, socially responsible investment means including the idea of long-term durability, with financially attractive performances, in their portfolio management process.
Trucost Plc joins Eurosif
Trucost Plc is an environmental research organisation, which helps companies and investors understand the environmental impacts of business activities. Trucost provides data and analysis on company emissions and natural resource usage. It presents these in financial, as well as quantity terms, providing the basis for an improved dialogue between companies, investors and other stakeholders. Trucost offers expert advice and research to major corporations, both public and private, institutional investors and to Government departments and associated agencies.
Visit the Trucost web site for more information.
Member Affiliate News
ABN AMRO Asset Management launches the world’s first climate change and environmental equity index as part of its eco-markets business platform
ABN AMRO launched a new equity index that tracks the performance of listed companies involved in addressing climate change and environmental issues. The Climate Change & Environment Index is the world’s first dynamic, rules-based index that tracks the performance of stocks directly related to businesses that are involved in tackling the adverse effects of climate change and mitigating environmental degradation.
For more information please see the ABN AMRO web site.
Bank Sarasin expands sustainability investing activities
Bank Sarasin & Co. Ltd, a Swiss Private Bank known as one of Europe’s leading sustainable investment products developers, and ASSET4 Ltd, a leading provider of environmental, social and corporate governance (ESG) data on global corporations, jointly announced that Bank Sarasin is to acquire a global license to use ASSET4’s ESG data and framework for its investment research, product structuring and portfolio management processes.
For more information please see the Bank Sarasin web site.
Calvert Social Investment Bond Fund Class I Shares Receives 2007 Lipper Fund Award
The Calvert Social Investment Fund Bond Portfolio Class I Shares (CBDIX) is among the winners of the 2007 Lipper Fund Awards. The Fund is in the Corporate Debt A-Rated category and is managed by an investment team led by Gregory Habeeb since 1997. This is the third time, in the last four years that the Calvert Social Investment Fund Bond Portfolio Class I Shares has won the Lipper Award for the three-year period. Lipper, a leading global mutual fund research firm, presented an award to the fund in each Lipper classification that achieved the highest Consistent Return scores.
For more information please see the Calvert web site.
Dexia AM has started its 4th SRI campaign in Europe
March 20th was the starting date of Dexia AM’s European-wide "SRI campaign 2007". A series of seminars focusing on sustainability analysis and SRI management for institutional investors is organised by Dexia AM in the following eleven European cities: Helsinki, Geneva, Zurich, Brussels, Amsterdam, Frankfurt, Luxembourg, Paris, Madrid, Vienna and Stockholm. For more information, please contact investor.support@dexia-am.com.
EIRIS takes new stride in Italian market
Global sustainable investment specialist EIRIS has recently acquired Italy’s leading ethical bank - Etica Sgr - as a client. EIRIS is providing Etica Sgr with screening services according to the bank’s ethical criteria and a sectoral analysis service. This recent acquisition comes as EIRIS’ client base continues to grow in continental Europe.
For more information please contact: Mark Robertson (+44 (0) 20 7840 5741).
Ethos fights for transparency concerning remuneration policies in Swiss companies
Ethos has recently opposed the re-election of various members of remuneration committees in Swiss companies. Several companies disclose very high salaries and remuneration plans that are not in line with international best practice standards. Because shareholders in Switzerland do not have the possibility to vote on the remuneration policy, it is very difficult for them to express their disapproval. As a long-term institutional investor, Ethos cannot accept that the Board of Directors of certain companies unilaterally establishes pay packages that are not in line with international standards of best practice. This is why Ethos calls on the Swiss Parliament to amend Swiss company law in order to allow shareholders to vote on the remuneration policy for executives of listed companies.
For more information please see the Ethos web site.
F&C Management Limited (F&C), Europe’s largest ethical investor, to expand in the US
F&C is introducing a sustainable international equity strategy to the US market for institutional investors and high-net worth individuals.
For more information please contact an F&C communications manager: Sergei Cristo (+44 (0) 20 7011 4402) or Karolina Adamkiewicz (+44 (0) 20 7011 5011).
FTSE4Good Index releases March results
The FTSE4Good Policy Committee has approved 17 deletions, and 25 company additions to the index series. Regionally, the US had the largest number of deletes with 12, and the UK the most additions with 11.
Download a summary of the results
Henderson publishes “New Industries of the Future” Review
Henderson recently published Time for Acceleration, which contains a review of the key sustainability trends in 2006, examines the performance of the Industries of the Future fund, and finally explores the prospects ahead in 2007.
KLD, UBS and Mergent partner to create new unit investment trust
UBS AG announced that it has launched the KLD Dividend Achievers Social Investing Series 2007A, a unique unit investment trust ["UIT"] designed to meet the needs of UBS Wealth Management US clients who are seeking socially responsible investments with a track record of increasing dividends.
To read the full release, please see the KLD web site.
Meeschaert Asset Management broadens ethical fund offer
A forerunner in ethical asset management in France, Meeschaert Asset Management has enriched their offer with a new mutual fund: “MAM Obligations Éthique”. This fund allows Meeschaert’s private management clients to make investments that are in line with their personal convictions.
For more information please see the Meeschaert AM web site (in French).
Pictet Asset Management is named SRI Provider of the Year 2007 by Global Pensions magazine
Pictet Asset Management was chosen from among a shortlist of six leading SRI managers. This accolade is a public recognition of the success of Pictet's SRI business, which has expanded rapidly, especially during the past two years, both in institutional mandates and fund products. It is the culmination of almost a decade of commitment to this investment field. Pictet's strategic cooperation with Ethos to develop sustainable investments has been instrumental in this achievement.
For more information please see the Pictet web site.
SiRi Company partner (Centre Info) has recently issued a report analysing the carbon intensity of carmakers
This report, based on the innovative envIMPACT® analysis tool, measures for the first time the exposure of car manufacturers to carbon constraints over their entire value chain.
Vigeo’s extra-financial research is chosen by ABP Investments, one of the largest pensions funds in the world
ABP Investments has decided to use EQUI-SECTOR, Vigeo’s extra-financial benchmark of over 550 European companies in more than 30 different sectors to complement its SRI analysis. EQUI-SECTOR is a set of sector benchmarks, which identifies extra-financial factors relevant to more than 30 industry sectors, and highlights the extra-financial performance of the companies in each sector.
For more information please contact thomas.gerard@vigeo.com.
WestLB publishes "What really counts": the materiality of extra-financial factors from a financial markets perspective
WestLB provides an extensive look at how environmental, social and governance (ESG) considerations are taken into account. Even though they do not yet form part of mainstream investment decision-making, things have started to change - not least because of the issue of global warming. They have tested for the materiality of extra-financial factors based on a sample of 540 European companies. Standard econometric methods have been used to define the test criteria. Overall, more than 3,000 relationships have been checked.
