News from Eurosif Member Affiliates
May/June 2007
New Member Affiliates
Deutsch Asset Management joins Eurosif
As a leading global asset manager with more than EUR 555 billion in assets under management (as of April 30, 2007), Deutsche Asset Management offers clients an unusual combination of services - a truly global network, a comprehensive product range, a service orientation and commitment to superior performance - together with the financial strength and resources of the Deutsche Bank Group.
Read more about Deutsche Asset Management
Living Planet Fund joins Eurosif
The Fund invests in companies that have a proactive commitment to environmental and social issues and which are leaders in their industry sector.
Read more about the Living Planet Fund
Member Affiliate News
Bank Sarasin launches a new thematic sustainability fund: Sarasin New Power Fund
Sarasin New Power Fund focuses exclusively on the theme of sustainable energy. A new addition to the thematic investment range, Sarasin New Power Fund invests in innovative companies active in the energy sector – either as suppliers, manufacturers or distributors within the value chain. In particular, the fund specialises in wind power, photovoltaics, hydroelectric power, fuel cells, as well as energy efficiency and energy management.
Calvert Launches Global Alternative Energy Fund
Calvert has launched the Calvert Global Alternative Energy Fund (Ticker: CGAEX) and is releasing the findings of a national survey that indicates a majority of U.S. investors are concerned about climate change and interested in alternative energy investments. Calvert has launched this fund to meet investor demand for alternative energy both as a global investment opportunity and as an essential response to the climate change crisis.
Crédit Agricole Asset Management forms a Scientific Think Tank Committee for Socially Responsible Finance
CAAM has reasserted its commitment to socially responsible finance by setting up a Scientific Think Tank Committee for Socially Responsible Finance. The committee is under the honorary chairmanship of René Carron and is headed by Pascal Blanqué, chief investment officer of CAAM. Its fifteen or so permanent members, selected for their widely recognised skills, include corporate executives, scientists and financiers as well as an economist, a philosopher and a sociologist. Personalities from the Crédit Agricole Group will also be part of this innovative body.
Economistas sin Fronteras releases study on SRI demand in Spain
According to the research conducted by ESF, the number of socially responsible investors in Spain, both individual and institutional, is expected to rise. In order to promote the growth of SRI market in Spain, it is necessary to improve communications on SRI and increase the role the financial institutions play in promoting SRI. Also, 92.5% of the respondents (800 people) consider that government and public authorities play a vital role in this process.
ECPI® E. Capital Indices launches Global Climate Change Equity Index
ECPI, European leader in Socially Responsible Investment Advisory, launches a Global Climate Change Equity Index. It is designed to select 40 companies that operate in sectors that will benefit from an environment that is increasingly affected by higher temperature volatility. Global Climate Change Equity Index will be a tool for investors who place the nexus of climate change policies and energy scarcity at the core of their asset allocation process by turning these issues into effective investment decisions.
Eiris (Ethical Investment Research Services) in conjunction with The Independent presents a guide to the greenest companies in the UK and the world
In the UK Kingfisher, BT Group and Biffa came out on top. On a global level Vestas Wind Systems, Svenska Cellulosa and (Eurosif Member Affiliate) ABN-Amro received the top three spots.
Ethix SRI Advisors selected for Scandinavian Carbon Disclosure Project
For the first time, Carbon Disclosure Project (CDP) will produce a Scandinavian report, with investment-relevant information concerning risks and opportunities facing companies due to climate change. Ethix has been selected Expertise Partner for the Scandinavian Report, which will be published in the autumn 2007. The report will include the largest listed companies in Denmark, Finland, Norway and Sweden.
Ethos launches discussion paper on “Sharing Competence in Setting Executive Remuneration”
Ethos launches a new series of publications «Ethos Discussion Paper» which will regularly feature in-depth articles on current issues in the fields of Socially Responsible Investment (SRI) and active shareholding. The first issue of Ethos Discussion Paper is dedicated to Executive Remuneration in listed companies, in particular sharing competence in setting Executive Remuneration between the Board of Directors and the shareholders.
FEE Warns that the Interest and Royalties Directive May Conflict with other Tax Rules
The European Federation of Accountants (FEE) publishes the results of a survey it undertook examining taxation rules of interest and royalties in EU Member States. The objective of the Paper, FEE Survey on the Interest and Royalties Directive and its Implementation, is to analyse the implementation of the Directive and its interaction with other rules existing at national and international level.
For more information contact Michael Sotiriou
Forética organises the first edition of the CSR Marketplace in Spain
As part of a pan European strategy on CSR, Forética is organising the first edition of the CSR Marketplace in Spain that will take place on October 4th in Madrid. The theme on this occasion will be silk and clothing with an estimated attendance of 400 people and about 75 solutions to be sold at the event.
For more information visit Forética’s marketplace web site
FTSE Launches New FTSE4Good Environmental Leaders Europe 40 Index
The index has been designed to be used as the basis of retail and institutional investment products for investors who are looking to: only invest in European companies that demonstrate best practice environmental management, minimise environmental risks within their portfolios, capitalise on the benefits of strong environmental management such as eco-efficiencies and an improved brand image and actively encourage companies to be more responsible. The index has already been licensed to the European Investment Bank (EIB) to be used as the basis for the Climate Protection Bond, the largest ever equity-linked bond, and the first bond to be syndicated via public offer in all 27 domestic markets of the EU.
Henderson hosts investor briefing on Sudan
With humanitarian concern rising ever higher about the situation in Darfur, Henderson hosted an UKSIF briefing on divesting from companies involved in Sudan. Starting in the USA, the Sudan Divestment Taskforce has targeted companies whose activities benefit the Sudanese government, notably those in the oil and gas sector. At the meeting, investors heard from Bennett Freeman from Calvert (Eurosif member affiliate) in the USA, which has been at the forefront of the campaign, as well as Hamish Falconer, director of Sudan Divestment UK.
www.henderson.com/sri and www.sudandivestment.org.uk and www.sudandivestment.org
HSBC Investments Launches Global Sustainable and Responsible Investment Platform
HSBC Investments has integrated its international Sustainable and Responsible Investment (SRI) capabilities into a global SRI platform to provide clients with in-depth SRI expertise and a broad set of investment solutions. The global SRI platform is designed to complement all the investment management capabilities of HSBC, and represents a further step in HSBC Investments’ commitment to becoming a major global provider of SRI products and solutions.
Insight Investment publishes first annual report on responsible investment entitled ‘Putting Principles into Practice’
The report provides a comprehensive account of how Insight embeds analysis of corporate governance and corporate responsibility issues into its day-to-day investment operations, and how it encourages companies to improve their performance in these areas through engagement.The report coincides with the first anniversary of the launch of the UN Principles for Responsible Investment (PRI). The sixth PRI principle is ‘to report on our activities and progress towards implementing the Principles’. By publishing its new report, Insight hopes to demonstrate its full compliance with the PRI and to extend its longstanding commitment to transparency and accountability.
KLD Announces Licensee for Global Climate 100 Index
KLD Research & Analytics, Inc., together with Fixed Income Securities, L.P., announced that it has licensed the KLD Global Climate 100 Index, the world's first global index focused on the climate solutions value chain, for a unit investment trust. The trust, which deposited on April 24, 2007, is the first investment product based on the GC100 Index available to U.S. investors.
SAM Group announces SH Asset Management becomes first licensee of Dow Jones Sustainability Indexes in South Korea
The new licensee will introduce a passive investment fund to track the DJSI World. SH Asset
Management’s new product will be the first DJSI-based investment vehicle managed in South
Korea. Its launch follows the recent publication of a Korea Chamber of Commerce report that
projects sustainability-driven investments to reach a 10 percent share of the country’s fund market
in the near future.
SiRi Company partner (Centre Info) is the first company to become "carbon neutral" in French-speaking Switzerland
Centre Info received a certificate from "myclimate - The Climate Protection Partnership" guaranteeing that Centre Info offsets all its carbon emissions through projects financed by "myclimate". "myclimate" is one of the leading providers of carbon offsetting measures.
Beyond this initiative, Centre Info provides climate change solutions for asset managers.
SNS Institutional Microfinance Fund collects record-breaking amount of €125 million
SNS Asset Management has closed its SNS Institutional Microfinance Fund with a record-breaking commitment of €125 million. This success has lead to the decision to reopen the fund until 1 October for a second tranche, to give more institutional investors the opportunity to participate. The SNS Institutional Microfinance Fund is an investment fund aimed at alleviating poverty and producing an attractive investment return by providing capital to microfinance institutions (MFIs) in developing countries.
WestLB Extra release report: "Corporate Ageing - demographic preparedness as a key driver for future competitiveness"
In all industrial nations, falling birth rates and rising life expectancies are leading not only to an ageing society but also to “ageing companies”. WestLB examines how companies can continue to create value in an environment of “corporate ageing” and possibly even gain competitive advantages. First findings of the report were presented at the French SIF FAIRE forum in Paris on June 11th, 2007.
WWF launches “Climate Solutions: WWF’s Vision for 2050”
Climate Solutions is the report of WWF’s Energy Task Force, which was set up in December 2005. More than 100 scientists and experts contributed their knowledge. The report identifies six key solutions to the problem of meeting global energy demand without damaging the global climate: improving energy efficiency, stopping forest loss, accelerating the development of low-emissions technologies, developing flexible fuels, replacing high-carbon coal with low-carbon gas, equipping fossil-fuel plants with carbon capture and storage technology.
