Member Affiliates' News
>>New Member Affiliates
Altedia IC joins Eurosif
Altedia Investment Consulting (AIC) assists companies, institutional investors, associations or management companies in the operational implementation of transactions related to financial investments. Altedia’s areas of assistance include: Asset management for institutional investors, Investment of excess cash for companies and associations, Employee savings & Collective retirement schemes, Corporate liabilities of major companies and Fund Advisory. www.altedia-ic.com
FEBEA joins Eurosif
Created in 2001, the European Federation of Ethical and Alternative Banks (FEBEA – Fédération Européenne des banques Ethiques et Alternatives) is a non profit organisation based in Brussels, governed by Belgian law. On the 31 December 2008 FEBEA had 25 members from 13 different member countries of the European Union as well as applicant countries, cooperative banks and other financial institutions whose aim is to finance social and solidarity-based economy in their countries. The entrepreneurs of a solidarity-based economy often have difficulty in obtaining financing from the traditional banking system. This is where the FEBEA can help: its members can offer these business managers their expertise and financing. www.febea.org
OFI Asset Management joins Eurosif
OFI Asset Management, a leading independent player in the asset management industry, offers French and European investors a broad spectrum of investment solutions built using a unique, methodical open-architecture approach. A group with expertise in a number of areas across a range of asset classes experienced in putting together multi-manager portfolios, OFI AM enjoys, today, a solid reputation as a firm noticed for its creativity and its resolute focus on absolute performance. www.ofi-am.fr
>>SRI News from Member Affiliates
ASSET4 Carbon Data & Estimates
Now you can monitor the carbon exposure of reporting and non-reporting companies by using the ASSET4 Carbon Data & Estimates. We have developed three transparent models to estimate total CO2 emissions enabling you to identify the carbon leaders and laggards of your portfolio and their risk profile sooner rather than later. The models work with historical carbon and energy data normalised by the number of employees and revenue, and are based on ASSET4's industry-leading extra-financial database, which covers over 2,600 global companies. The data and estimates are available in a variety of formats and prices. More information
BankInvest and Leuphana University Lüneburg SRI Study Now Available in English
BankInvest just released an English version of its SRI-study entitled ‘Socially Responsible Investments - Motives Aspects and Trends from the Perspective of Institutional Investors’. BankInvest worked with Leuphana University Lüneburg to conduct the study. A 360 page book on SRI, in German, will be published shortly. Download English or German version
BlueOrchard: Significant Disbursements of Loans to Microfinance Institutions
In May and June 2009, BlueOrchard Finance disbursed close to the equivalent amount of USD 34 million in loans to 16 microfinance institutions (MFIs) in 13 different countries. The equivalent of USD 20.5 million were lent through the Dexia Micro-Credit Fund and USD 1.5 million through the BBVA Codespa Microfinance Fund. Blue Orchard also acted as advisor for four loans of the Microfinance Enhancement Facility, launched by the International Finance Corporation and KfW Entwicklungsbank, for a total of USD 12 million. Five of the loans were offered to new clients in Cameroon, Tajikistan, Mongolia and Moldova. Since its inception in 2001, BlueOrchard Finance has disbursed almost USD 1 billion in nearly 800 loans to microfinance institutions throughout the world. www.blueorchard.com
CAAM supports Forest Footprint Disclosure Project (FFDP)
The Forest Footprint Disclosure Project is an initiative on a global scale aiming to fight deforestation, a theme which is still very little factored in by the financial community. The FFDP currently groups together investors representing over USD1,300 billion in assets under management. The FFDP initiative targets companies in the wood, energy and agri-food sectors. FFDP will send questionnaires to 200 companies to assess their behaviour in with respect to forest destruction. The results will be published in early 2010, giving the names of the most progressive companies and of those who declined to respond. This new initiative is part of the scope of CAAM’s policy of shareholder dialogue. It is covered by one of IDEAM’s extra-financial analysts. www.forestdisclosure.com
Carbon Disclosure Project and Markit to Launch Climate Change Investment Indices
Markit, a financial information services company, and the Carbon Disclosure Project (CDP), the leading independent global climate change reporting system, are developing a family of investment indices reflecting the financial performance of companies with strong carbon management strategies. By combining CDP’s benchmark climate change data and Markit’s index expertise, Markit will create a family of high quality equity indices that will help investors gain exposure to companies that actively manage their impact on the environment. The stock selection and weighting will be based on CDP’s annual corporate Carbon Disclosure Leadership Index (CDLI) data. This is scored based on the quality of information disclosed and provides a deep insight into companies’ greenhouse gas emissions and climate change management strategies. www.cdproject.net or www.markit.com
DB Climate Change Advisors Releases Report: "Investing in Agriculture: Far-Reaching Challenge, Significant Opportunity"
DB Climate Change Advisors (DBCCA), Deutsche Asset Management's (DeAM’s) institutional climate change investment and research business, published a new report, which explores the question of how to sustainably meet the growing energy and food demands of a global population approaching nine billion people in 2050 in a sector affected by climate change. DBCCA estimates that the caloric needs of the planet will soar 50% by 2050, driven by population growth, increased wealth, dietary changes, as well as demand for biofuel (e.g., ethanol-production growth). The focus of the report is how to meet the challenge of boosting agricultural productivity to satisfy the needs of the Earth’s population. Read full white paper
Dexia Asset Management Conducts Research on Greenhouse Gas Intensity of European Oil & Gas Companies
Dexia Asset Management has conducted research into the life cycle greenhouse gas (GHG) intensity of some European companies’ upstream portfolios. Natural gas life cycle GHG emissions are the lowest (23% lower than oil). Heavy oil emissions are 18% higher than light/medium crude oil and 53% higher than natural gas. Companies in the oil & gas sector need to take this into account as tighter carbon regulations are expected. Long-term investors should factor the carbon constraint into their energy investment decisions. Full copy of the study
Domini Selected for SEC Investor Advisory Committee
Domini Social Investments’ Managing Director and General Counsel, Adam Kanzer, has been selected to join the Securities and Exchange Commission’s newly formed Investor Advisory Committee. The 18-member committee was established to provide the SEC with the views of a broad spectrum of investors on the Commission’s regulatory agenda. Committee members will serve for a term of two years. www.domini.com
EIRIS Increases Market Share in France
Following the opening of its Paris office in October 2008, EIRIS has further increased its market share in France by entering into a new partnership with one of France’s largest asset management houses Crédit Agricole Asset Management (CAAM) and its Sustainable and Responsible Investment skillcentre, IDEAM. www.eiris.org
Ethos Foundation Receives 2009 International Corporate Governance Network Award
The Ethos Foundation is the 2009 recipient of the International Corporate Governance Network (ICGN) Award. The award is considered the highest distinction in the field of corporate governance and is given annually for exceptional achievement in that connection. For the Awards Committee, Ethos has helped bring about significant improvements in corporate governance and has had a major positive impact in its region. Read more
FEE Roundtable on Enhancing Sustainability in the Public Sector
FEE (Fédération des Experts comptables Européens - Federation of European Accountants) organised a Roundtable discussion on "Accounting, Sustainability and the Public Sector - policy and accountability, a route map" with a keynote speech provided by MEP Richard Howitt, European Parliament Rapporteur on Corporate Social Responsibility, and a Roundtable panel with high level experts. Read more
FTSE Creates New Investment Tools Supporting Global Shift Towards a Low Carbon Economy
FTSE Group (“FTSE”), the global index provider announces the launch of new capital investment tools to help investors identify and gain exposure to the rapidly growing environmental technology sector. The pioneering move comes at a time when climate change and environmental concerns are at a global high and clean technology opportunities are of increasing interest to investors worldwide. The introduction of the classification system allows those companies who provide essential environmental products, activities and services, to be identified more easily, facilitating a peer to peer comparison on a global, regional and pan-regional basis. The system also provides a basis for the creation of sector based investment products such as ETFs, mutual funds and derivatives products. Read more Classification brochure
GES Joins CRN as Founding Member
GES Investment Services has on 16 June 2009 joined the recently established Conflict Risk Network (CRN). By joining an effective engagement process and accessing in-depth research, GES Investment Services will further ensure that its clients base their investment strategies and address global conflict risk, without having to commit significant financial resources or even changing investment policies. www.ges-invest.com
Henderson Publishes 2008 Responsible Property Investment report
Henderson Global Investors’ property investment team has recently published a report detailing the sustainability performance and risk exposure of eight of its funds during 2008. This is the first annual report produced by the team, and further illustrates. Access the report
Insight Investment Publishes PRI Report
Insight investment has just published its third annual PRI implementation report – Putting Principles into Practice – describing how it implements each of the six UNPRI Principles. The report highlights corporate governance, climate change, access to water, and poverty alleviation and development as the key research and engagement priorities for Insight. Read more
Limestone Claims Best Quarter for Emerging Europe
Emerging Europe equity markets had their best quarter ever as investors switched to riskier assets on rising hopes that the world economy is stabilising. Limestone New Europe SRI fund posted a second quarter return of 42.2% vs. the benchmark 33% gain. The most remarkable positive news from corporate government and shareholder rights’ area came from Romania, where it was made official that the annulment of the ex-privatisation funds’ (SIFs) ownership threshold will finally be debated in Parliament in September. This development is of particular significance to Limestone New Europe SRI fund, as SIF1 was their first engagement target in October 2008, whereby the ownership threshold was one of the main issues discussed with the management of SIF1. Read more
MACIF Gestion Releases Study Asking“Does Sustainable Development Lead to the Emergence of a New Business Model?”
The study has two main objectives: 1. Understand the role and the place that CSR holds in the strategy of CAC40 companies. 2. Identify the organization methods and management tools used by these companies to implement their CSR policy and clarify the motivations of these choices. Download the study
oekom’s Commodities Screening: Checking the Sustainability of Raw Materials
Companies and investors concerned about sustainability face the challenge of avoiding risks to their reputation which they might incur by procuring raw materials from dubious sources or with a poor sustainability record. oekom’s Commodities ESG Screening (OCES) provides a well-founded basis for assessing and selecting raw materials in a way that takes social and environmental aspects into account. The OCES screening process firstly evaluates the companies which mine or produce the raw materials concerned and secondly analyses the social and environmental situation in the principal countries of origin of the raw material concerned. The corporate and country analysis is complemented by background information on the specific social and environmental challenges faced in extracting the raw materials. Please contact rolf.haessler@oekom-research.com.
Oikocredit: Profit for Good Use
In a time when most financial institutions look back on a very weak year, Oikocredit has succeeded in growing its field investments by 32% to € 365 million. Total assets increased with 15% to € 449 million. Despite the drop of all stock markets, the Oikocredit share has retained its value. Based on good results and expectations for the coming year, Oikocredit's board of directors will propose to its members to continue paying out 2% dividend to its investors. Our prudent investment strategy, strong relationship with project partners and straightforward financial products allow us to continue investing in the working poor. In 2008, the ratio of our microfinance projects at risk dropped to the lowest level in our history: 1.5%. This proves poor borrowers with little collateral can be successful entrepreneurs and repay their microloans. Evidence shows that investing in them brings significant social and economic change. www.oikocredit.org
responsAbility Becomes a Member of Microfinance Social Performance Task Force (SPTF) Steering Committee
The purpose of the SPTF is to define and propagate standardized social performance indicators and management methods for microfinance institutions (MFI) and microfinance investors. The objective is to measure and promote the social orientation of microfinance institutions throughout the industry. Standardized indicators support a relevant and transparent illustration of the social achievements through microfinance. www.responsability.com
Trucost & Mercer Research Identifies Large Scope to Reduce Carbon Risk in Investment Portfolios
New research published by Trucost and Mercer has exposed a seven-fold difference in the carbon footprints of UK-based institutional equity portfolios. Pension funds that invest in portfolios with large carbon footprints could be most exposed to carbon risks. The report outlines how fund manager complacency on corporate carbon performance in financial analysis and decision-making could put pension fund assets at risk as carbon-intensive portfolio companies face rising carbon costs and company valuations fall in anticipation of future carbon exposure. www.trucost.com
Vigeo and Novaster Sign Partnership Agreement Directed at Institutional Investors on Iberian Market
Vigeo and Novaster, a Spanish retirement and investment consultancy firm and a major player in its market, have just signed a partnership agreement aimed at institutional investors (pension funds, insurance companies and benefit organisations) on the Iberian market. This partnership will allow investors in these countries to benefit from a complete analysis of their portfolios, combining, on the one hand, an analysis of the financial performance of their assets provided by Novaster and, on the other, an ESG-related analysis of the same assets delivered by Vigeo. www.vigeo.com
