SRI News
EAI and PRI merge
The Enhanced Analytics Initiative (EAI) and the Principles for Responsible Investment (PRI) have announced on October 6 that they will join forces under the PRI name to internationalise the call for better investment research. A working group comprising of both EAI members and representatives from the PRI has been established and further detail regarding how the group will support research providers that diversify their approach to assessing the impact of long term intangibles on company performance is expected by the end of the December 2008.
Ethical Investment Association (EIA) rewards fund providers for transparency
Henderson Global Investors, Insight Investment, Jupiter Asset Management and Standard Life Investments achieved a Gold ranking in the first EIA Transparency Awards which were presented at the September EIA Training Day hosted by Henderson. These product providers were recognised for their adherence to the European SRI Transparency Guidelines, which were originally launched by Eurosif in 2004. The EIA is also publishing a report surveying the adoption of those guidelines by UK funds, entitled “All Clear: Current Practice and Future Drivers for Transparency by UK Green and Ethical Investment Funds using the European SRI Transparency Guidelines” which includes commentary by leaders in the financial services industry.
http://www.ethicalinvestment.org.uk/uploads/EIASRITransparencyGuidelinesReport.pdf
Swedish funds exclude cluster bomb companies
Sweden’s AP national pension buffer funds (AP1, AP2, AP3 and AP4) have sold shares worth tens of millions euros in nine companies that sell cluster bombs. The AP funds, which have excluded US companies Alliant Techsystems, GenCorp, General Dynamics, L-3 Communications, Lockheed Martin, Raytheon and Textron, as well as South Korean groups Hanwha Corporation and Poongsan from their investment portfolios. The blacklisting follows advice from the Ethical Council of the Swedish National Pension Funds. It recommended a ban after the endorsement by the Swedish government in May 2008 of the Dublin treaty on cluster bombs.
www.ap1.se, www.ap2.se, www.ap3.se, www.ap4.se
SRI Category in Institutional Investor (II) Survey
For the second time the Institutional Investor survey has included a section dedicated to SRI in their survey, which is one of the most important surveys for sell-side research management. In the past, this dedicated SRI section did not receive enough votes to count formally. Voting in the II Survey is now open and if you would like to vote and have not received an II form, please email AERTSurvey@iimagazine.com.
Launch of Sustainable Finance Geneva on October 28, 2008
The Sustainable Finance Geneva is an association of Geneva-based professionals and investors with a common interest in promoting sustainable finance and responsible investment.Sponsored by Genève Place Financière, SFG was founded by a diverse group of practitioners that are at the forefront of sustainable finance in Geneva and around the world.They have come together to accelerate progress, share their knowledge and form an international movement for action in sustainable finance and responsible investment.
For more information and/or to become a member, contact info@SFGeneva.org.
Carbon Trust report highlights the impact of a company’s climate change policy on its value
‘Climate Change: a business revolution?’ found that well positioned, proactive businesses could increase company value by up to 80%. The report argues that unprepared companies run the risk of destroying value by as much as 65% in some sectors.
UN Principles for Responsible Investment (UN PRI) launches RI Academic Network
The PRI Academic Network aims to connect academic research regarding ESG issues within investment and the RI practises of financial institutions. UN PRI now has over 400 global investment institution signatories representing over $15 trillion of assets under management.
Innovest and WWF publish report on sovereign wealth funds and sustainable investment
‘Fund Management in the 21st Century: The role of sovereign wealth funds in contributing to a low carbon future’ uses the Norwegian Global Pension Fund as a case study. The report also ranks key public investment funds in terms of their sustainable investment policies and actions.
Investing in Small and Medium Sized Enterprises in Uganda
The first in a series of guides on SME finance in new emerging markets, is now available. Investments in new emerging market SMEs are limited by a lack of information and a high perception of risk. This series aims to provide investors with practical information to make informed decisions, thereby stimulating investments in SMEs seeking finance between USD10,000 and USD1 million. In contrast to existing investment guides on the market, all the information in these guides is tailored for investors targeting the SME sector. Guides on investing in SMEs in Colombia and Tanzania will soon be available.
To order the guide please visit: www.bidnetwork.org/countryguides
