November/December 2007

Improving Seed Financing for Eco-Innovation Businesses – EC Expert Meeting

On November 7th, Eurosif was invited to participate as a key expert for an important EC workshop titled “Seed and start up finance for high growth SMEs active in eco-innovation” sponsored by the European Commission, DG Enterprise & Industry.

Results of Eurosif’s Venture Capital for Sustainability study were included in the discussion document and presented during the workshop. Based on the conclusion of the workshop, a report identifying obstacles and outlining recommendations and solutions will be completed for January 2008. The main findings will serve as basis to formulate policy proposals with other Commission services.

EU Speeches at Eurosif’s annual Advisory Council meeting on November 14, 2007

Christine Dalby from DG Secretariat General presented the result of the first progress report on the EU Sustainable Development Strategy (EU SDS). Maciej Szymanowicz from DG Environment presented the EU Environmental Technologies and Action Plan (ETAP) progress and next steps. Orsola Mautone from the European Environmental Agency (EEA) discussed the agency’s eco-tax policy developments.

One Share One Vote: the Commission abandoned the idea of a reform

In a speech to Parliament's Legal Affairs Committee on October 3, 2007, Commissioner Charlie McCreevy said that he would let go of plans, put forward two years ago, to make shareholder voting more "democratic" with a "one share, one vote" reform. "The study found that there is no economic evidence of a causal link between deviations from the so-called 'proportionality principle' and the economic performance of companies… My conclusion is that there is no need for action at EU level on this issue," he said. Eurosif is planning a meeting with the Commissioner for 2008 to discuss this and other responsible investment areas.

Eurosif invited to attend high-level EU finance conference “Achieving the Integration of European Financial Markets in a Global Context”

3-4 December 2007, Brussels, European Parliament

This conference was attended by very high level representatives of the finance community (CEOs / Chairmen of Axa Group, Allianz, Groupe Caisse d’Epargne, Fortis, CNP Assurances, Crédit Agricole SA, etc.) and of EU institutions and Member States (Portuguese, Italian and French Ministers of Finance, Jean-Claude Trichet from the European Central Bank etc.).

Eurosif participated in “Ethics in Business – Innovation through Ethics?” conference

3 December 2007, Brussels, European Parliament

Through this symposium, the International Association for Human Values (IAHV) brought together business, academic and spiritual leaders to initiate a dialogue on new leadership styles that are sustainable and ensure profitability for businesses.

Replacement for GDP?

The European Commission is working on a new tool to measure the wealth and wellbeing of countries beyond the traditional Gross Domestic Product (GDP). The new tool will aim to measure 'true' progress, taking environmental and social indicators into consideration. The EU multi-stakeholder forum, of which Eurosif is a member, will be involved in the discussion.

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