Member Affiliates' News
New Member Affiliates
KBC joins Eurosif
KBC Asset Management is the leading asset manager in Belgium and has been able to expand in other markets around the world successfully. Its Socially Responsible Investments (SRI) Funds have experienced an increasing popularity. Thereby KBC Asset Management can rely on sixteen years of experience in this niche, as in 1992 the first SRI fund (KBC Eco Fund Word) was launched. Since then, the SRI department has constantly enlarged its product line and has become the largest provider of socially responsible investments in Europe. KBC Asset Management has developed two SRI strategies: one for investing in global CSR-leaders, using best-in-class methodology; and the focus approach, targeting sustainable theme-specific companies (water, alternative energy, agriculture, climate change, etc.). The SRI strategies are implemented in SRI funds, life insurance investments and institutional mandates for investors, located in Belgium, Central and Eastern Europe but also the US, Korea, Japan, Australia and Taiwan. All together, these portfolio’s represent a volume of about € 7 billion.
KPMG joins Eurosif
KPMG operates as an international network of member firms offering audit, tax and advisory services. We work closely with our clients, helping them to mitigate risks and grasp opportunities. Our firms' clients include business corporations, governments and public sector agencies and not-for-profit organizations. They look to KPMG for a consistent standard of service based on high order professional capabilities, industry insight and local knowledge. KPMG member firms can be found in over 140 countries. Collectively they employ more than 123,000 people across a range of disciplines.
KPMG's GSS (Global Sustainability Services) Network is a network of 250-300 practitioners working in more than 40 countries, who work together to help better understand, control, measure and improve our clients business performance in the area of corporate responsibility.
Manifest joins Eurosif
Manifest is a global proxy voting and corporate governance research agency offering trustworthy independent advice and support to institutional investors, (fund managers and pension funds), brokers, corporate advisors, academics and regulators in the UK, continental Europe and the US. Based in the UK and with over 12 years experience, we have been offering thorough, tailored research and analysis for some of the most demanding investors in the field of responsible and engaged investment, integrated with an award-winning straight-through electronic proxy voting platform designed and built for purpose.
Morley FM joins Eurosif
Morley Fund Management Limited (“Morley”) is a London-based asset management business wholly owned by Aviva plc. Morley is one of the UK’s largest active fund managers. In Europe, it is one of the biggest property investment managers with £32 billion / €42 billion of property assets under management. Morley group companies have assets of £164.8 billion / €215.0 billion under management. (As at 31 December 2007).
Natixis AM joins Eurosif
Natixis Asset Management is the European centre of Natixis Global Asset Management. Based in Paris, Natixis Asset Management takes place in very first ranks of the European asset managers with around €373 billion assets under management as of 03/31/2008 and employs around 600 people. Natixis Asset Management offers a wide range of products and investment solutions on all asset classes to institutional investors, companies, distributors and banking networks. Natixis Asset Management is n°1 of SRI in France (source: Novethic as of 12/31/2007).
Member Affiliate News
ASSET4 Makes ESG Monitoring Easy and Dynamic
ASSET4 AG announces the release of its new one-click ESG and ESG news tracking capabilities. The new one-click ESG functionality allows users to generate easy-to-read analysis and benchmarking reports on the ESG performance of a company against its peers based on 90 customisable Key Performance Indicators. The MyNews functionality enables users to dynamically monitor the news flow for any or all of the eighteen data categories within the system, such as emission reduction, human rights and health & safety. These criteria can be monitored for a single company, portfolio, sector or geographic region.
Bank Sarasin finds sustainable hidden capital in energy efficiency
According to a new report published by Bank Sarasin, improving energy efficiency can play an important role to solve the looming problem of a rising global energy demand. Although measures to increase energy efficiency may pay for themselves purely through energy cost savings, they take time to implement. Greater energy efficiency is most appealing in areas where energy prices are high and state incentives favourable. According to Sarasin, improved energy efficiency could satisfy the soaring demand in a direct and sustainable manner without any corresponding increase in resource usage. The potential is enormous: on average, only about one third of the primary energy contained in the original energy source is used. In the case of electrical equipment, as much as 80% of the primary energy is lost. For physical reasons, this theoretical potential cannot be realised in practice, but the achievable energy savings still come to over 20% for the period up to 2020.
Caisse des Dépôts chosen as one of 4 institutions to run Voluntary Carbon Standard registries
Four registries for the voluntary carbon market will be launched in September with the aim of boosting confidence in a sector that has been derided by environmental groups and policymakers. The Voluntary Carbon Standard Association, a collaboration of companies that source and trade emissions reductions for buyers outside the compliance market for carbon credits, said in a statement that it had selected four financial institutions to run the registries. Bank of New York Mellon of the US, Caisse des Dépôts of France, TZ1, a venture founded by the New Zealand Stock Exchange and APX, a US-based infrastructure provider will all run registries on a 24-hour basis. The registries will issue, hold, trade and retire voluntary carbon units, representing one ton of greenhouse gas reduced
Centre Info releases report on C02 labelling
Centre Info, in collaboration with Utopies and Groupe Caisse d'Epargne, publishes a report on the first CO2 labelling experience of banking products in France. The report analyses the grades of Caisse d'Epargne's financial products and the practical implications of the evaluation system for the bank and customers. The project was carried out by Groupe Caisse d'Epargne with the support of Utopies who have co-developed the labelling methodology while Centre Info provided the data on the carbon footprint of the companies analyzed. A panel of stakeholders composed of ADEME, Friends of the Earth, WWF and "Testé pour Vous" have provided their contribution in terms of methodological developments.
Dexia Asset Management Receives Altedia AAA Investment Consulting Award
Dexia Asset Management, one of the leading pan-European SRI managers, is pleased to announce that Altedia Investment Consulting (AIC), has recently assessed its expertise in SRI, and has granted it the highest AAA rating. AIC particularly lauds Dexia Asset Management's large SRI team, its thorough internally developed research, well structured investment process and vast fund range spanning all asset classes. Dexia Asset Management will further endeavour to enhance its investment process in the foreseeable future. A recent example of such an enhancement can be seen in the latest version of Looking Ahead, Dexia Asset Management's quarterly newsletter on SRI and sustainable development, which deals, among other items, with country sustainability analysis.
http://www.dexia-am.com/content/investment_process/sri/Looking_Ahead%20nr.8%20(UK).pdf
ECPI launches Global Longevity Winners Equity Index
ECPI Global Longevity Winners Equity Index is designed to select 36 companies that operate in those sectors that will benefit from the demographic trends that are leading to a sharp increase in life expectancy in developed countries. Demographic trends, caused by the global transition to higher life expectancy and lower fertility, will significantly influence the world’s economy over the next 5 to 50 years. Systematic changes in the economy and new consumption trends will therefore constitute new sources of competitive advantage for companies. ECPI has selected 6 sectors that are better positioned to benefit from an increase in life expectancy and in the number of elderly population.
EIRIS releases global study highlighting investors’ role in tackling climate change
Focussing on the 300 largest cap global companies listed on the FTSE All World Index, “ The state we’re in: global corporate response to climate change and the implications for investors” analyses the current state of corporate response to climate change, highlights the key challenges this presents and examines the implications for investors. In the report EIRIS includes suggestions of how investors can assess their portfolios and design investment strategies in response to the challenge of a carbon-constrained economy.
Ethos Demands Advisory Vote on Remuneration Report
A new issue of the Ethos Discussion Papers, on the pending revision of the Swiss Company Law, has been recently published, coinciding with the beginning of the relevant parliamentary discussions. The revision represents an ideal opportunity to amend the corporate governance of listed companies and simultaneously strengthen shareholder's rights. While Ethos approves the Swiss Federal Council's proposals on the whole, Ethos reiterates its demand for a shareholder advisory vote on the remuneration report.
F&C testifies for transparency
F&C Chairman Bob Jenkins testified in Washington before the US Congress in favour of the Extractive Industries Transparency Disclosure Act, a bill that would require all US-registered oil and mining companies to publish their tax, royalty and bonus payments to governments. The aim of the Act is to enable grassroots civil society groups in highly corrupt resource-rich countries to hold their governments accountable for the revenues they collect from extractive companies. The testimony illustrates the commitment by F&C senior management to championing responsible investment: more recently, F&C CEO Alain Grisay endorsed F&C’s report on how it complies with the ClimateWise: a set of principles committing insurance companies to take action on climate change.
FTSE Launches Environmental Opportunities All Share Index
The FTSE Environmental All-Share Index is made up of over 450 companies involved in alternative energy, water and waste management. It is available for investors to use as the basis of structured products, exchange traded funds (ETF) and index funds. Research on the Index’s constituents is provided by Impax.
Good Bankers celebrate 10 years and launch new website
Established in 1998, the Good Bankers is an independent investment-advisory company devoted to social investment research in Japan. The company is a pioneer in implementing the first SRI product "Eco-fund" into the Japanese market. Good Bankers recently held a prestigious 10 year anniversary celebration and launched a new website to further their communications efforts.
Greenpeace China examines government's moves to tackle pollution caused by industrial wastewater
Water pollution is one of the biggest environmental challenges that China currently faces. In their recent newsletter Greenpeace China claims proactive investors need to consider taking more aggressive action to urge the firms in their emerging market portfolios to release their emissions data voluntarily, and to make their pollution control policies available for public scrutiny.
Henderson undertakes sustainability assessment of eight property funds within its UK portfolio
In addition to investments in equities, private equity and fixed interest, Henderson Global Investors has investments in European real estate totalling £11.8 billion (as of December 2007). Henderson's property team adopted a Responsible Property Investment policy in January 2008. In early July, Henderson announced that it had completed a six-month independent review of the sustainability risks and opportunities within its £6 billion UK portfolio. Henderson believes this is the most comprehensive property-by-property sustainability, environmental and risk survey undertaken by a UK fund manager or property owner to date. Henderson will now execute a programme to address the issues raised in the assessment to improve the investment performance and returns of individual assets and manage identified risks, such as those resulting from climate change.
Insight Investment wins European Pensions award
Insight Investment has won the European Pensions SRI Provider of the Year Award, for the manner in which it incorporates social, environmental and governance issues into its equity and fixed income investment processes, and for its leadership role in encouraging high standards of corporate performance on climate change, corporate governance, public health and environmental issues.
KBC AM has drawn up a policy on investing in companies that are active in ‘controversial countries’
KBC AM uses a decision-making matrix to judge which companies with operations in controversial countries may be included in a sustainable selection. The matrix sets the controversial character of a regime against the relevant commercial activity. Nations are rated using a model based on a combination of human rights indicators. Using this method, KBC AM has arrived at a group of 18 controversial countries. Application of the matrix in the spring of 2008 resulted in the additional exclusion of 33 companies from the sustainable investment universe. KBC AM will apply this procedure annually to the equity universe on which sustainable investment funds of the best-in-class type are permitted to draw.
KLD Global Climate 100 Index Marks Three Year Anniversary
KLD Research & Analytics, Inc. has marked the third anniversary of its Global Climate 100SM Index (GC100) – the first global index focused on solutions to climate change. The GC100 has returned 53% (15.24% annualized) from its launch on July 1, 2005 through June 30, 2008. The index holds a diversified group of companies that are leaders in renewable energy, clean technology & efficiency, and future fuels. KLD created the GC100 in partnership with the Global Energy Network Institute, a research organization that seeks to build connections among the world’s energy systems, with an emphasis on renewable energy resources.
KLP blacklisted Group 4 Securicor
Group 4 Securicor (G4S), a security services company listed in the UK and in Denmark, has been excluded from the investment portfolios of KLP, the Norwegian life insurance company. G4S is accused of breaching labour rights in twelve countries. In at least five countries, the violations have been confirmed by official sources such as ILO and national courts, namely Indonesia, Israel, Mozambique, Malawi and the US. The reported practices can be associated with for instance freedom of association, systematic violations of labour laws, unlawful dismissal of workers, harassment of trade unionists and breaches of binding collective agreements.
MACIF Gestion introduces innovative SRI funds of funds
MACIF Gestion has recently launched: MACIF SELECTION DEVELOPPEMENT DURABLE. Since 1998, MACIF Gestion is dedicated to managing SRI funds invested in all asset classes. MACIF Gestion has decided at the end of 2007 to apply its long term expertise of fund selection to SRI funds. MACIF SELECTION DEVELOPPEMENT DURABLE is structured according to a core-satellite approach. Therefore, 65% of the portfolio is invested in “Best-in-class” European funds, bringing a performance in line with the European Equity indices. The satellite part is composed of “themes” funds seeking out-performance through investment in companies dealing with sustainability issues (climate change, water treatment, waste recycling, renewable energy, etc.).
http://macifgestion.fr/doc/doc-4_fr.pdf
Manifest asks “When is an AGM resolution not as routine as it first appears?”
Proposals to discharge directors of liabilities routinely appear on shareholder meetings’ agendas in many European markets. But what do they mean? What are the implications for shareholders? A report by Manifest addresses these questions and takes an in-depth look at 13 markets to highlight the key issues for concerned investors.
oekom research offers climate check for funds and indexes
The “Climate Risk Portfolio Check” is a tool developed by oekom research for illustrating the nature and scale of the climate risks which particular investment products entail. The risk check is designed for investors who want to analyze and actively manage the risks which their portfolio presents in terms of climate change. At the heart of the new portfolio check is a climate-risk index developed by oekom research which maps the potential impact of six climate-dependent risks on various sectors of the economy. These include physical risks such as storm damage or droughts, for example, regulatory risks, market risks, such as changes in demand from consumers, market price risks, caused, for example, by rises in the cost of energy, legal risks which accrue as a result of lawsuits relating to climate-related circumstances, and finally reputational risks.
Oikocredit holding photo competition “How fair is your world?”
Oikocredit, one of the leading financiers of microfinance worldwide is currently holding a photo competition until 31 October 2008. Take a photograph of yourself or someone else to show them what fair financing and being a fair trade consumer means. The winner of the Oikocredit photo competition will visit one of Oikocredit's fair trade project partners to see and hear firsthand stories on how Oikocredit's fair financing empowers people.
SAM publishes study on global sporting goods sector with focus on China
In conjunction with 2008 summer Olympics in Beijing a new study by SAM (Sustainable Asset Management) analyses the growth potential of the sporting goods industry. One key finding is that attractive opportunities are to be found especially in the Chinese market and local Chinese sports brands, but there are also considerable risks due to the still pronounced need to catch up in the area of sustainability. The analysis of the sustainability scores, share price volatility and growth rates of the 14 sporting goods manufacturers represented at the Olympics enables investors to assess the leading market participants and their growth prospects.
http://www.sam-group.com/downloads/studies/SAM-Insights_Sporting_Goods_e_July.pdf
Trucost finds investors are exposed to carbon intensity of vehicles in use
Vehicle manufacturers’ exposure to planned EU policies to limit carbon emissions from vehicles in use varies significantly. That was one of the key findings of analysis by Trucost. The environmental research company examined seven European carmakers’ risk exposure to proposed carbon performance standards. Draft EU legislation aims to set targets for average CO2 emissions from new cars. Manufacturers which fail to meet their targets could face hefty fines. Trucost research showed that Porsche has the highest weighted average of CO2/km per passenger car, and is therefore most exposed to the draft standards. Further analysis of production emissions found that Daimler AG is most exposed to indirect carbon costs during production. The analyses uses Trucost’s updated model, which includes the latest industry economic data and emission factors.
UBS launches UBS Emerging Markets Innovators fund
This is one of the first Emerging Markets SRI theme funds. Its investment universe includes water, climate change and sustainable development. Innovators are usually young, small-scale companies whose products and services offer clear environmental benefits and a high degree of resource efficiency.
VINIS launches first SRI equity fund with focus on Central and Eastern Europe
The ESPA VINIS STOCK EUROPE EMERGING invests in 75 companies in Central and Eastern Europe, which show above average socially and environmentally awareness. The fund is managed by ERSTE-SPARINVEST, the asset management company of Erste Bank. Experts in the field of socially responsible investment use a multi-layer process to select the portfolio holdings for the ESPA VINIS STOCK EUROPE EMERGING. There are strict criteria used for the selection process (avoidance of environmental pollution, child labour, nuclear energy etc.). The target portfolio for the fund is based upon a well-diversified regional mix, consisting in particular of the countries Turkey, Russia, Poland, Czech Republic and Hungary. For details see http://int.sparinvest.com/sparinvest/faces/portal/factsheets/fondsblatt.jsp?fid=106201
