SRI News
FRR launches tender for extra-financial risk analysis provider
The provider will be in charge of identifying serious and unacceptable risks due to breaches in the universally accepted principles by listed companies. The service provision should cover large and mid capitalisations in developed and emerging markets in the following areas: Portfolio analysis of extra-financial risks with regards to the set of principles chosen by FRR, with an evaluation of the gravity and seriousness of the breaches; Provision of an alert system on extra-financial risks; As an option, the provider can also put forward a proposal concerning assistance in the domain of engagement with companies, that will be developed by FRR. The deadline for submitting applications and proposals under the conditions described in the RFP documents is Monday September 15, 2008 at 4 pm Paris Time.
New ESG Manual from CFA Institute Centre Helps Investors Evaluate Environmental, Social, and Governance Factors
The CFA Institute Centre for Financial Market Integrity, the global policy authority on professional and performance standards, financial reporting, and capital markets, recently launched “Environmental, Social, and Governance Factors at Listed Companies: A Manual for Investors” to assist investors in understanding how a company deals with environmental, social and governance (ESG) issues.
Update on Emerging Market Disclosure Initiative
The Emerging Markets Disclosure (EMD) Initiative is an international initiative to improve sustainability disclosure in emerging markets. Shortly after the idea was proposed by Calvert Asset Management Company, Inc. at the ‘PRI in Person’ Conference in July 2007, the project quickly became a collaborative effort by the Sustainable Investment Research Analyst Network (SIRAN) of the US Social Investment Forum (SIF), Calvert, KLD Research & Analytics, Inc. (KLD), ASrIA, the Global Reporting Initiative (GRI), PRI, and the General Board of Pension and Health Benefits of the United Methodist Church. Phase 3 of the EMD Initiative officially began in May and will run through August 2009. This phase is focused on outreach and engagement in order to promote disclosure by corporations operating in Brazil, China, India, Russia, South Africa, South Korea, and Taiwan. This work is being coordinated by SIF, with Calvert, IWG, and the IFC acting as advisory co-chairs. In addition, ASrIA, PRI, GRI, and HSBC continue to play active roles.
Robin Cosgrove Prize for Ethics in Finance is now open
The global prize aims to promote greater awareness among young people with an interest in the banking and related financial industries of the benefits of ethics in finance. The Robin Cosgrove Prize for Innovative Ideas for Ethics in Finance is open to young people, aged 35 years or younger, from throughout the world. The goal is to promote the vision of Robin, an investment banker who died tragically young at aged 31. The competition invites creative papers setting out analyses, projects or proposals for innovative ways to promote ethics in finance and banking, especially in emerging markets.
Novethic & Altedia IC present survey on SRI employee savings
With the support of AXA, Novethic and Altedia IC present the findings of the first survey of French companies and employee savings invested in SRI assets. While they are globally interested in the prospect, companies do not fully comprehend SRI. However, they identify it as a factor in employee-employer relations. The results show that SRI will experience strong development in the next five to ten years, and could become widespread or even mandatory according to two-thirds of those surveyed.
LuxFLAG awards Microfinance Label to Rural Impulse Fund
LuxFLAG, the Luxembourg Fund Labelling Agency, is an independent organization that aims to promote Microfinance by awarding a distinctive Label to eligible Microfinance Investment Vehicles (MIVs). The LuxFLAG Microfinance Label ensures that a fund is predominantly invested in Microfinance and meets international standards in the field of Microfinance. LuxFLAG is pleased to announce that it has just granted a Label to Rural Impulse Fund SA SICAV-FIS. Rural Impulse Fund is the sixth MIV to obtain a Label from LuxFLAG. The other LuxFLAG labelled funds are Dexia Micro-Credit Fund; Dual Return Fund – Vision Microfinance; European Fund for Southeast Europe; as well as responsAbility Global Microfinance Fund; responsAbility SICAV (Lux) with its two sub funds responsAbility Mikrofinanz-Fonds and responsAbility Microfinance Leaders Fund.
GRI launches Global Action Network for Transparency in the Supply Chain
The global Reporting Initiative is calling on multinational firms to promote sustainability in their supply chains through greater transparency in disclosing their economic, environmental and social performance. One of the key benefits for global network members will be the opportunity to take part in GRI-certified training in disclosure on key sustainability indicators for multinational firms’ suppliers.
BSR Moves to Help Business Protect International Labour Migrants
Business for Social Responsibility (BSR) has launched a two-year initiative to help protect the rights of international labour migrants along global supply chains in South and Southeast Asia, the Middle East, the Gulf States and Africa. The program, made possible with generous support from the John D. and Catherine T. MacArthur Foundation, will respond to the increasing needs of people seeking economic opportunities outside of their home countries. BSR’s work will leverage primary and secondary research, pilot projects and multi-stakeholder strategy sessions with multinational companies, their suppliers in developing countries, policymakers, labour representatives and migrant workers.
Access to Medicine Index lets Investors Select Most Socially Responsible Corporations
The world's largest pharmaceutical companies differ strongly in their efforts to provide millions of people in low-income countries with better access to affordable drugs and vaccines. The Access to Medicine Index measures and rates efforts by individual drug companies to increase the number of people that have access to effective and affordable medicine. The Index ranks twenty of the world's largest drug companies, offering investors and other stakeholders a new and powerful tool with which to take pharmaceutical companies' social responsibility record into account.
