News from Eurosif Member Affiliates
November/December 2007
New Member Affiliates
ASSET4 joins Eurosif
ASSET4 provides a new generation of investment research information to professional investors allowing them to incorporate objective and measurable ESG (environmental, social, governance) information into their decision-making processes. The ASSET4 information and tools enable clients to improve investment performance, reduce risk, develop innovative products, drive down research costs and monitor the ESG aspects of their portfolios. ASSET4 has more than 200 employees and is headquartered in Zug, Switzerland with locations in London, New York and Mauritius.
Carbon Disclosure Project joins Eurosif
The Carbon Disclosure Project (CDP) is an independent not-for-profit organisation aiming to create a lasting relationship between shareholders and corporations regarding the implications for shareholder value and commercial operations presented by climate change. Its goal is to facilitate a dialogue, supported by quality information, from which a rational response to climate change will emerge.
Domini Social Investments joins Eurosif
Domini Social Investments is an investment firm specialising exclusively in socially responsible investing. They offer mutual funds to individual and institutional investors who wish to integrate social and environmental standards into their investment decisions.
Member Affiliate News
ABP part of project to invest half a billion euros in sustainable energy projects
Dutch pension funds ABP and PGGM are setting an example through their participation in the new Ampère Equity Fund. The projects include wind parks on land and at sea and biomass power stations in various Western European countries. The development, construction and operation of these projects will be financed by the fund. Evelop, the sustainable project developer of Econcern, will realise the vast majority of these projects.
ASSET4 announces strategic relationship with Merrill Lynch
ASSET4 Ltd, a leading provider of corporate ESG (environmental, social and corporate governance) information recently announced that Merrill Lynch has entered into a strategic marketing relationship with them and has acquired a global license to incorporate ASSET4’s integrated ESG investment information into its investment research and product structuring.
Bank Sarasin published its latest annual update on the solar industry
The fifth report in the series: "Solar Energy 2007 - The industry continues to boom". The specialists for renewable energy of Bank Sarasin examine the current market situation and give an outlook for solar energy, focusing on three key applications: PV, solar thermal energy and solar thermal power stations. One of the key findings is that solar energy's CO2 abatement costs will sink to almost zero by 2018, making it cheaper than conventional forms of electricity or heat.
To provide investors with a convenient, diversified investment in solar companies, Bank Sarasin is launching the "Sarasin European Solar Power Index".
Carbon Disclosure Project launches operations in the Netherlands
The Carbon Disclosure Project, which represents a collaboration of 315 institutional investors with a combined $41 trillion of assets under management, has recently announced they will now be working with the 50 largest Dutch listed companies to gather key information on climate data. This initiative is co-funded by ABP and the Dutch ministry for environment (VROM).
Deutsche Bank Asset Management launches climate change investment initiative
Deutsche Bank's Asset Management division (DeAM) appointed Mark Fulton to the new role of Climate Change Strategist and has published a white paper on the impact of climate change on investing. Fulton's new responsibilities include creating a coordinated strategic plan to address investment opportunities presented by climate change, working with each of DeAM's businesses to develop specific products and coordinating the firm's Climate Change Investment Committee.
EIRIS works with Johannesburg Stock Exchange to develop enhanced SRI Index
Now in its fourth year, the Index assesses the environmental, social and economic sustainability and corporate governance practices of South African listed companies. JSE has worked with EIRIS on a review of Index criteria and construction, to ensure that the Index maintains its leading role in both encouraging broad based sustainability practice by companies and fostering consensus on what this means in the context of South Africa.
Economistas sin Fronteras releases “How to promote SRI in Spain” study
In December 2007, Economistas sin Fronteras(EsF) will publish research on SRI issues in order to raise awareness in this area in Spain. “Cómo fomentar la Inversión Socialmente Responsable en España” will also analyse whether or not Spanish SRI products are adapted to the expectations of retail and institutional demand and proposes some improvement measures. EsF and Universidad Pontificia de Salamanca are holding a seminar on this topic on December 14th, 2007.
For more information please contact Johanna Hariri or Beatriz Fernández Olit
Ethos releases second study of executive remuneration: “Say on Pay”
Ethos presents its second study of executive remuneration in the 100 largest Swiss listed companies. Ethos analysed three key aspects of executive remuneration: disclosure, structure and competencies. While the study confirms the rising trend of executive remuneration, it also finds little progress in terms of disclosure and structure of executive remuneration compared to last year. Concerning competencies, the companies now face the challenge to make the shareholders participate in the debate on executive remuneration.
F&C wins award for best ESG asset manager
F&C’s unrivalled expertise in the environmental, social and governance (ESG) arena has once again been recognised by the industry as the firm picked up the Best Asset Manager Investing in ESG award at the IPE/TBLI ESG Leaders Awards ceremony in Paris in November 2007. F&C’s track record in this sector dates back to 1984 when the company launched Europe’s first-ever socially responsible equities fund, the Stewardship Growth Fund. F&C has also led the industry’s move into responsible shareholder engagement through the introduction of its Responsible Engagement Overlay (reo®) programme, which, since its launch in 2000, has grown to represent €115 billion in assets for pension funds, insurers and banks.
GES increases pressure on investors in Burma
In order to complement the new EU business sanctions towards Burma, GES Investment Services increases the pressure on companies operating there by initiating a new cooperation between investors. Companies exposed to the highest risks of becoming complicit in violations of human rights will be directly addressed by GES and clients like the Church of Sweden, Swedish insurance company Folksam and Norwegian life insurance company KLP.
Henderson Global Investors appoints new Head of SRI Research
Henderson has appointed Seb Beloe to its Sustainable & Responsible Investment (SRI) business as Head of SRI Research. Part of a seven-strong team he will report to George Latham, Head of SRI funds. Seb will lead on the identification and analysis of critical sustainability and responsibility issues with investment relevance for the SRI funds. In addition, he will guide and oversee the research team's engagement activities in these areas. Seb joins from SustainAbility LTD UK where he was Vice President, Research & Advocacy. Seb has expertise in helping businesses develop strategic responses and practical solutions to social and environmental issues and has a background in environmental technology and environmental science. He will start at Henderson in January 2008.
KLD releases its first report for Electric and Natural Gas Utilities Sector
KLD Research & Analytics, Inc., has released its first Electric and Natural Gas Utilities Sector Report. The report analyses and rates how 14 of some of the largest U.S. and European utilities are responding to social and environmental challenges, including global climate change, local air pollution, nuclear power safety, and increased energy demands on electricity grids and pipelines.
Mercer and IFC launch first sustainability survey in emerging markets
IFC has appointed Mercer to undertake the first in-depth research on how prevalent environmental, social, and corporate governance (ESG) factors are in emerging market investments. Specifically, Mercer will survey fund managers operating in emerging markets to identify and highlight those that integrate ESG factors in their investment processes. The research aims to facilitate investments in sustainability-conscious emerging market funds and to signal to fund managers the growing worldwide demand for sustainable investment products. The survey will include a list of identified fund managers, with information on their capacity to integrate ESG factors. The results will be made publicly available and communicated to investment communities throughout major developed and emerging markets.
www.mercer.com/ri & www.ifc.org
SAM expands into the US market
SAM (Sustainable Asset Management), a leading investment group in the field of sustainability investments, now offers its investment strategies to institutional and private US investors. Since its establishment more than 12 years ago, SAM has successfully focused its activities on the development and management of sustainability investment strategies. Based on its highly successful track record and expertise, SAM is uniquely qualified and positioned to meet the increasing world-wide demand.
SiRi company partner Centre info updated survey on auto carbon emissions
Centre Info recently issued an updated report analysing the carbon intensity of 18 carmakers. This report, based on the innovative envIMPACT® analysis tool, measures the exposure of car manufacturers to carbon constraints over their entire value chain. The report found that the carbon intensity of car makers is highly dependent on their product portfolio, where car size and engine type play a crucial role.
Standard Life Investments confirms environmental issues are key for their ethical investors
Leading investment house, Standard Life Investments has confirmed that environmental issues continue to top the list of concerns of its ethical investors. The only ethical fund provider to survey its investors on an annual basis and to be guided by investor views in the development of ethical fund criteria, Standard Life Investments found that eight of the top ten issues of concern relate to the environment. Clearing tropical forests (unless the company has a policy on reforestation and mitigation) and using high volumes of timber (without complying with internationally recognised standards) were the two related environmental criteria that emerged as joint number one key concerns.
http://uk.standardlifeinvestments.com/content/press/press_index.html
Sustainable World Capital lead sponsor for Bioplastics Conference
“Emerging Markets for Biobased Plastics”, was sponsored by Sustainable World Capital from November 29 – 30, 2007 in Atlanta, Georgia. The event provided a forum to explore growth opportunities for corn, soy, starch, and cellulose-based resins in industrial applications. Conference participants explored the outlook for bioplastics markets; cost factors and comparisons to the petrochemical value chain; adoption of biomaterials in electronics and automotive applications; and selling strategies for bioresins.
www.sustainableworldcapital.com
Trucost & Merrill Lynch announce the launch the ML Carbon Leaders Europe index
Merrill Lynch has introduced a new index, which, using Trucost data, focuses on best in class carbon footprint companies with favourable valuation characteristics. The ‘Carbon Leaders’ investment product enables investors to choose between otherwise successful companies on the basis of how environmental factors will affect their future business earnings.
UBS launches alternative energy fund in Taiwan
UBS AG, Europe's largest bank by assets, plans to start a Taiwan-based fund that will invest in companies seeking to tap the growing global appetite for clean energy and water. UBS' Taiwan branch will raise as much as NT$6.5 billion for its Global Innovators Fund. 50 to 70 stocks will be picked worldwide using research by UBS' Socially Responsible Investments team, which manages $2 billion in assets globally. The Taipei-based Global Innovators Fund plans to invest about three-quarters of its assets in companies with products and services that help address climate change. About a quarter of the money is earmarked for Germany, primarily shares of companies involved in solar energy.
www.ubs.com & www.chinapost.com
Vigeo Italia / Morningstar release figures for green, social and ethical funds in Europe
Vigeo Italia, in partnership with Morningstar - the global leading provider of mutual funds data/analysis – recently presented its report “Green Social and Ethical Funds in Europe 2007” in Milan. The report, enhanced with a US comparison for the 2007 edition, provides a general overview of SRI mutual funds in Europe, in terms of number and size of funds, type of SRI approaches, top performing funds, specific costs, and companies held in portfolio and asset allocation. The research is powered by the SRI Funds Service, which is a comprehensive database featuring all existing socially responsible retail funds in Europe. This service is supported by Eurosif and can be accessed from the Eurosif web site. It is a web platform-initiative launched by Vigeo Italia in cooperation with Morningstar and makes information available to SRI investors, managers, intermediaries and companies on a per fund basis.
