SRI News in Europe & elsewhere
March/April 2007
European Centre for Corporate Engagement (ECCE) releases ESG report
The ECCE has completed the first pilot study of the use of extra-financial information by European research analysts and investment managers. With more than 850 respondents from 88 sell-side and 240 buy-side institutions, it is one of the largest ever attempts at analysing how information relating to environmental, social and governance (ESG) issues is used in valuation and investment decisions.
New study on sustainability performance of German companies
A survey entitled “Sustainably successful? Analysing, measuring and managing corporate sustainability with the Sustainable Value approach”, funded by the German Federal Ministry of Education and Research, analyses the sustainability performance of 28 German companies. The results of the study show which companies use their resources most efficiently.
Download the short version of the study results (in English)
Leading Croatian companies improve their public disclosures on corporate governance and Corporate Social Responsibility (CSR)
Research conducted by the Zagreb School of Economics and Management (ZSEM) and the Partners for Financial Stability (PFS) Program showed leading Croatian firms provide more of the information that is useful to investors. For instance, more than half of all surveyed firms provide financial statements online, and 74% of firms provide at least the names of their management board members.
To read the results please visit either the ZSEM web site or the PFS web site.
The UK government creates unique blueprint for tackling climate change
The draft Climate Change Bill, the first of its kind in any country, and accompanying strategy, set out a framework for moving the UK to a low-carbon economy. It demonstrates the UK’s leadership as progress continues towards establishing a post-Kyoto global emissions agreement. The draft bill will be subject to a full public consultation alongside pre-legislative scrutiny in Parliament.
For more information please visit the DEFRA web site.
The Local Authority Pension Fund Forum (LAPF) monitors engagement in China
Pension funds will be able to assess their investment managers’ engagement with companies over labour standards in China using a new guide produced by the Local Authority Pension Fund Forum. The LAPFF Trustee Guide, entitled “Labour Standards In China: Best Practice Guidelines”, covers a range of issues relevant to companies doing business in China, including labour laws and human rights, trade unions, health and safety, diversity and the use of disciplinary measures, and wages and working hours.
For more information please visit the LAPFF web site.
Belgium bans investments in cluster munitions
The Belgian Parliament has recently approved a law forbidding investments in cluster munitions. Belgium is now the first country to prevent the flow of money to producers of cluster munitions. The law forbids banks and investment funds operating on the Belgian market from offering credit to producers of cluster munitions. The purchase of shares and bonds issued by these companies is also prohibited. This law will have far reaching implications for financial institutions in Belgium.
For more information please see the Netwerk Vlaanderen web site.
Online Disclosure of the Largest Listed Companies in Eleven Central and Eastern European (CEE) Countries Improves
The PFS Program (Partners for Financial Stability) publishes its 12th semi-annual survey of online investor relations of the ten largest listed companies (by market capitalization) in eleven Central and Eastern European (CEE) countries. For the second time, the survey provides comparisons with BRIC (Brazil, Russia, India and China) and Ukraine in order to compare online disclosure practices with peers in other emerging markets. This survey analyzes the English-language websites and annual reports of the 10 largest listed companies in the aforementioned CEE countries in order to document the current disclosure practices of this ‘blue-chip’ peer group.
Complete survey results and report are now available online at:
http://www.pfsprogram.org/capitalmarkets_research.php
New Sustainable Investment Research Platform is launched
SIRP aims to help institutional investors cope with barriers to successful implementation of sustainable investment strategies. It is a web portal and a platform to bridge the gap between academics and practitioners; a joint project of Umeå School of Business - USBE, at Umeå University, the European Centre for Corporate Engagement (ECCE) at RSM - Erasmus University, the University of Maastricht.
Novethic updates its evaluation of French SRI funds distributed in France
Novethic, a subsidiary of the Caisse des Dépôts and centre for SRI research has dedicated a section of their web site to analysing and comparing SRI funds that are sold on the French market.
