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INTERVIEW:
SUSTAINABLE INVESTMENT
Interview: Cary Krosinsky, Editor of Evolutions in Sustainable Investment
SocialFunds.com talks with Krosinsky about the challenges to as well as the inevitability of a mainstream uptake of sustainable investing strategies.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CORPORATE REPORTING | CARBON MANAGEMENT | INSURANCE INDUSTRY
States Require Insurers to Respond to Climate Risk Survey
California joins New York and Washington in requiring insurers that that write in excess of $300 million in premiums to respond to the National Association of Insurance Commissioners' Climate Risk Survey.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | INSTITUTIONAL INVESTORS
A 30% Reduction in EU Emissions by 2020 will be Cheaper than Expected
Noting that emissions reductions reached 14% by 2010, the European Commission concludes that a 30% cut will cost less than anticipated, and the Institutional Investors Group on Climate Change calls for incentives to stimulate private investment.
NEWS STORY:
SHAREOWNER ACTION | HUMAN RIGHTS | HUMAN TRAFFICKING
Investors Team with Law Enforcement Professionals to Combat Sex Trafficking at Super Bowl
Interfaith Center on Corporate Responsibility members warn that child sex trafficking increases during large sporting events, and engage with Indianapolis hotels to raise awareness of the risk at this year's Super Bowl.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | ENVIRONMENTAL ISSUES
UN Adaptation Database Highlights Corporate Sustainability Efforts
The UN Framework Convention on Climate Change publishes an online database featuring case studies of climate change adaptation activities undertaken by private companies.
BOOK REVIEW:
BOOK REVIEW | SUSTAINABLE INVESTMENT
Book Review: Evolutions in Sustainable Investing: Strategies, Funds and Thought Leadership
Trucost executive Cary Krosinsky edits a book of essays demonstrating that sustainable investment in an era of growing resource scarcity yields significant opportunities for portfolio outperformance.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING | POLITICAL EXPENDITURES
Shareowners File 40 Resolutions on Lobbying Expenditures by Corporations
Walden Asset Management leads a coalition of investors calling on companies to disclose both direct lobbying expenditures and indirect funding of lobbying through trade associations.
NEWS BRIEF:
CORPORATE REPORTING | EVENT ORGANIZERS INDUSTRY
GRI Publishes Sustainability Guidance for Event Organizers
Site selection and community impact are among the key issues for which reporting can enhance the accountability of event organizers, the Global Reporting Initiative says.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | CORPORATE REPORTING
Corporate Knights Publishes Eighth Annual Ranking of Sustainable Companies
Danish pharmaceutical firm Novo Nordisk tops the 2012 Global 100 and the United Kingdom leads countries with 16 companies on list.
NEWS STORY:
ENVIRONMENTAL ISSUES | WATER SCARCITY | INSTITUTIONAL INVESTORS
Ceres Aqua Gauge Helps Investors and Companies Manage Water Risk
As population growth and climate change make water risk management an issue for investors and companies to address without delay, the Ceres Aqua Gauge provides a framework for evaluating corporate strategies.
NEWS BRIEF:
SHAREOWNER ACTION | CHEMICAL INDUSTRY | FOOD SAFETY
Harrington Investments Requests that Monsanto Report on GMOs
The chemical giant refuses to allow a proxy to speak on behalf of the shareowner resolution at tomorrow's annual general meeting, and Harrington joins in call for demonstrations.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING | POLITICAL EXPENDITURES
On Second Anniversary of Citizens United, Coalition Calls on SEC to Mandate Disclosure
The Corporate Reform Coalition holds a press conference in which members express support for a petition requesting that the Securities and Exchange Commission establish rules mandating that public corporations disclose their political spending activities.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | HUMAN RIGHTS | BRIBERY & CORRUPTION
Shareowner Activists Urge Siemens to Quit Chamber of Commerce
CtW Investment Group writes to the German industrial conglomerate, stating that its position on the Chamber's board is at odds with the trade association's efforts to weaken the Foreign Corrupt Practices Act.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | POLITICAL EXPENDITURES
Shareowners to Corporations: Say No to Political Expenditures
Trillium Asset Management and Green Century Capital Management file resolutions with Bank of America, 3M, and Target, requesting that they refrain from making political donations.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | POLITICAL EXPENDITURES | OIL AND GAS INDUSTRY
Congressional Recipients of Oil Industry Money Overwhelmingly Support Controversial Pipeline
An analysis by MapLight reveals that of the 118 House members who report the oil and gas industry among their top ten contributors, only two voted against legislation calling for construction of the Keystone XL pipeline.
NEWS STORY:
SUSTAINABLE INVESTMENT | ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | INSTITUTIONAL INVESTORS
Investors Vow to Address Climate Change even as Congress Fails to Act
At the Investor Summit on Climate Risk & Energy Solutions, hosted by Ceres, institutional investors note progress in managing climate change in their portfolios, but warn that further action must be taken now.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CORPORATE REPORTING | CARBON MANAGEMENT
EPA Launches Database of High Emitters
2010 greenhouse gas emissions data reveals that power plants were the largest stationary sources of direct emissions, with 96 of them among the 100 facilities reporting the highest levels of emissions.
NEWS STORY:
SUSTAINABLE INVESTMENT | ENVIRONMENTAL ISSUES | EMERGING MARKETS
Emerging Markets Investors Advised to Factor for Cost of Carbon
SinCo and Trucost produce a report that identifies risks of a carbon tax to high-emitting companies, while analyzing the carbon footprints of South African equity funds.
NEWS BRIEF:
SOCIAL ISSUES | HUMAN RIGHTS | SUPPLY CHAINS | ELECTRONICS INDUSTRY
Microsoft Says Worker Dispute at Foxconn Plant Resolved
Suicide threats by protesting workers at Chinese manufacturing plant recalls 2010 deaths of workers at another Foxconn plant in China.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | INSTITUTIONAL INVESTORS
Investors Advised to Increase Climate-Sensitive Allocations and Engage with Companies and Policymakers on Climate Change
Mercer follows up groundbreaking 2011 study of the economic costs of climate change with a survey of the climate change-related investment strategies of institutional investors.
NEWS BRIEF:
CORPORATE GOVERNANCE | BOARD DIVERSITY | MUTUAL FUNDS
Pax World Appoints New Portfolio Manager for Global Women's Equality Fund
Ivka Kalus-Bystricky will lead Pax World's Global Women's Equality Fund, which invests primarily in large-cap companies that promote gender equality and women's advancement.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
The Pros and Cons of COP17
Nations agree to agree on a binding emissions reduction treaty, and the Green Climate Fund is established, but details on both are lacking and may not prevent warming of more than two degrees Celsius.
NEWS BRIEF:
CORPORATE REPORTING | EMERGING MARKETS | STOCK EXCHANGES
Brazilian Stock Exchange Recommends that Companies Report or Explain
BM&FBOVESPA, the Brazilian Stock Exchange, adopts report-or-explain position to encourage sustainability reporting by listing companies in advance of the Rio+20 conference in July.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Ecuadorian Court Upholds $18 Billion Judgment Against Chevron
In addition to upholding the judgment for environmental damages in Ecuador's Amazon rainforest, the court also criticized Chevron's efforts to undermine the trial.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | CORPORATE POLITICAL SPENDING
States, Cities Call for End of Corporate Personhood
California joins Vermont in calling for a constitutional amendment overturning Citizens United, and the New York City Council joins Los Angeles in unanimously supporting an amendment.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | CORPORATE POLITICAL SPENDING
Ban on Corporate Political Spending Upheld in Montana
The Montana Supreme Court rules in favor of reinstating the state's century-old ban on direct political spending by corporations.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Climate Change and COP17 from an African Perspective
SocialFunds.com talks with Graham Sinclair, President of AfricaSIF, about his impressions of the recently concluded climate change conference held in South Africa.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | COAL INDUSTRY
Appeals Court Blocks Cross-State Air Pollution Rule
Power producers argued that the Environmental Protection Agency's (EPA) January 1 deadline gave them too little time to install required pollution control equipment.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CORPORATE GOVERNANCE
Top Sustainable Investment Stories of 2011
Many sustainable investors see affinities between their concerns and those of the Occupy Movement, and global emissions from the burning of fossil fuels in 2010 were the highest in human history.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Scientists Urge GOP Candidates to Accept Climate Science
In advance of early primaries, scientists in Iowa and New Hampshire urge Republican presidential candidates to accept climate science and support efforts to reduce greenhouse gas emissions.
NEWS BRIEF:
SHAREOWNER ACTION | HUMAN RIGHTS | CONFLICT MINERALS
Shareowner Engagement Leads to Adoption of Human Rights Policy at OM Group
The company operates a cobalt smelter in the Democratic Republic of the Congo, where a 2007 workplace accident at a joint venture partner killed three children.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | INFORMATION TECHNOLOGY
Greenpeace Ends Unfriend Coal Campaign Targeting Facebook
The social media giant agrees to reduce its reliance on coal-powered electricity by siting its data centers where renewable energy sources are available.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Shareowners Press Chevron to Acknowledge Environmental Liabilities in Ecuador
Even as Chevron's liability for a November oil spill in Brazil reaches billions of dollars, the company still refuses to disclose to shareowners the risks associated with an $18 billion court judgment against it in Ecuador. Second of a two-part series.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | UTILITIES
EPA Issues Rule on Mercury Emissions from Power Plants
The rule requiring power plants to install pollution control equipment to reduce emissions will improve the nation's health and create almost 1.5 million jobs in the next five years.
NEWS STORY:
SHAREOWNER ACTION | HUMAN RIGHTS | OIL AND GAS INDUSTRY
Shareowner Activists Pressure Chevron for Transparency Over Payments to Burmese Regime
Amid news of a possible normalization of relations between the US and Burma, sustainable investors and other activists argue that most of Chevron's payments line the pockets of the military. First of a two-part series.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING | CORPORATE POLITICAL SPENDING | MUTUAL FUNDS
Mutual Fund Support for Political Spending Disclosure Inches Upward
An analysis prepared for the Center for Political Accountability by Jackie Cook of Fund Votes reveals that mutual fund support for corporate political spending disclosure increased in 2011 for eighth year in a row.
NEWS BRIEF:
COMMUNITY INVESTMENT | WATER RESOURCES AND SCARCITY
Shortfall in Water Infrastructure Investment Could Reach $84 Billion by 2020
The American Society of Civil Engineers warns of environmental and public health consequences of a failing water infrastructure, and maintains that private investment is crucial to reversing current investment trends.
NEWS BRIEF:
SHAREOWNER ACTION | PROXY ACCESS | PROXY ADVISORY FIRMS
Schapiro Remarks Suggest Regulation of Proxy Advisors
The SEC Chairman cites corporate concerns over quality of information used for recommendations, and potential conflicts of interest, as reasons for regulation of proxy advisory firms.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | EXECUTIVE COMPENSATION
CEO Pay at S&P 500 Companies Up 37% in 2010
Increases in CEO pay are far greater than those of share prices, GovernanceMetrics International finds, and three of the highest paid executives are with companies whose shareowners have expressed dissatisfaction over pay packages.
NEWS STORY:
COMMUNITY INVESTMENT | IMPACT INVESTORS
New Report Surveys Current State of Impact Investing
The Global Impact Investing Network finds that impact investors often provide debt investments to microfinance institutions in emerging markets, but provides little to distinguish the practice from sustainable investing.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING | OIL AND GAS INDUSTRY | HYDRAULIC FRACTURING
Investors Provide Guidance for Companies Engaged in Hydraulic Fracturing
SocialFunds.com talks with Richard Liroff of the Investor Environmental Health Network about a collaborative effort with the Interfaith Center on Corporate Responsibility to minimize risks associated with fracking through key performance indicators and best practices.
NEWS BRIEF:
COMMUNITY INVESTMENT | FIXED INCOME INVESTING
Community Capital Management's Flagship Fund Surpasses $1 Billion in Assets
The Community Reinvestment Act (CRA) Qualified Investment CRA Shares fund, which helps banks meet the credit needs of the communities in which they operate, now has over 300 bank shareowners.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY | HYDRAULIC FRACTURING
EPA Finds Drinking Water Tainted by Fracking
An analysis by the Environmental Protection Agency finds that hydraulic fracturing is responsible for polluting the drinking water in Pavilion, Wyoming.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
What Happened at COP17?
Negotiators leave Durban without a plan to stop climate change but with an agreement to pursue a binding pact, and investors look for signs that support increased investment in climate change mitigation and adaptation.
NEWS STORY:
ENVIRONMENTAL ISSUES | COMMUNITY INVESTMENT | ENERGY EFFICIENCY
Green Retrofits Outpace New Construction for First Time
The US Green Building Council says that LEED-certified square footage of existing buildings now exceeds that of new construction.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | EXECUTIVE COMPENSATION
Shareowners Support Annual Say-on-Pay Votes
An analysis by GovernanceMetrics International finds that while 42% of companies recommended a shareowner vote on executive compensation every three years, 72% of shareowners voted in favor of annual votes.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | STOCK EXCHANGES
Mexican Stock Exchange Launches Sustainability Index
Bolsa Mexicana de Valores selects EIRIS and Ecovalores to develop framework for an Index assessing the environmental, social, and corporate governance performance of Mexican companies.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CORPORATE REPORTING | CARBON MANAGEMENT
Unilever Tops Scorecard of Companies Addressing Climate Change
In the fifth annual Scorecard produced by Climate Counts, Unilever supplants Nike for the first time as the leader in corporate emissions reduction, public policy, and reporting.
NEWS BRIEF:
CORPORATE GOVERNANCE | HEALTH AND SAFETY | COAL INDUSTRY
Massey Energy Parent Fined $209 Million for Fatal Mine Disaster
The Mine Safety and Health Administration says that corporate culture at Massey was the root cause of the Upper Big Branch mine explosion in West Virginia that killed 29 workers.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CORPORATE REPORTING | STOCK EXCHANGES
Largest South African Companies are Responding to Climate Change but Need to do More
With the COP17 climate change conference occurring in South Africa, EIRIS analyzes the climate change performance of the 40 largest companies listed on the Johannesburg Stock Exchange.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Global Emissions Break Records in 2010
Scientists at the Global Carbon Project find that despite a persistent economic downturn, emissions from burning fossil fuels increased 5.9% in 2010 and reached highest level recorded in at least the last 800,000 years
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | EXECUTIVE COMPENSATION
42 S&P500 Companies at Risk for Failed Say-on-Pay in 2012
An analysis by GovernanceMetrics International finds that 157 companies in the Russell 3000 also failed to gain 70% of shareowner support, and recommends that those companies engage with shareowners on executive compensation.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | FINANCIAL INDUSTRIES
BankTrack Names Banks Funding Dirty Coal Power Plants
Four US banks top the list of those spending the most on financing the construction of new coal-fired power plants.
NEWS STORY:
SOCIAL ISSUES | HUMAN RIGHTS | PHARMACEUTICAL INDUSTRY
ICCR Calls on Drug Companies to Join Medicines Patent Pool
On World AIDS Day, members of the Interfaith Center on Corporate Responsibility reiterate their support for providing medicine to HIV-positive people in developing countries, and call on drug companies to do their part by joining the Medicines Patent Pool.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | RENEWABLE ENERGY TECHNOLOGIES | INFORMATION TECHNOLOGY
Google Abandons Renewable Energy Initiative
The IT giant says it will maintain its efforts to improve energy efficiency in its data centers and continue to invest in renewable energy.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | STOCK INDEXES
NYSE Euronext and Bloomberg New Energy Finance Launch New Clean Energy Stock Indexes
The indexes, which will track clean energy stocks in three regions globally, will soon be joined by industry-specific indexes; in the US, new sources of investment must be found to maintain the growth spurred by stimulus funds.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING | POLITICAL EXPENDITURES
Grassroots Support Grows for Constitutional Amendment on Corporate Personhood
The founders of Ben and Jerry's Ice Cream help launch Business for Democracy, and Move to Amend supports a constitutional amendment ending "legal fiction" of corporate personhood.
NEWS STORY:
FILM REVIEW | CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
Film Review: Margin Call
First-time director J.C. Chandor's film provides a fictionalized version of Lehman Brothers awakening to the fact that inadequate risk management had launched the financial crisis.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | PROXY ACCESS
Two Shareowner Proposals Request Proxy Access
The proposals are based on a Model Shareowner Proposal for Proxy Access, developed by the United States Proxy Exchange, which requests shareowner votes under SEC Rule 14a-8.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING | CORPORATE POLITICAL EXPENDITURES
Wall Street Journal Op-ed Attacks Corporate Disclosure of Political Spending
Bruce Freed of the Center for Political Accountability talks with SocialFunds.com about the mischaracterizations in the Journal's op-ed piece, and describes the widespread support for greater disclosure.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
IPCC Links Extreme Weather Events to Climate Change
In a summary released for policymakers in advance of its full report, the Intergovernmental Panel on Climate Change considers it highly likely that the increase in extreme weather events and disasters is due to man-made climate change.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | AUTOMOBILE INDUSTRY
Investors Support Administration's New Fuel Efficiency Standards
Ceres says that 54.5 mpg by 2025 will add jobs to the economy, increase auto industry competitiveness, and reduce greenhouse gas emissions.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE REPORTING | HUMNA RIGHTS
Investors Provide Guidance for Compliance with California Transparency in Supply Chains Act
Companies are encouraged to go beyond compliance with law and enact policies that commit them to addressing human trafficking in their supply chains.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES | HUMAN RIGHTS | MUTUAL FUNDS
Praxis Targets Cell Service Providers in Conflict Minerals Campaign
SocialFunds.com talks with Mark Regier of Praxis Mutual Funds about the launch of campaign to bring cell service providers into the conversation about conflict minerals.
NEWS STORY:
SHAREOWNER ACTION | MUTUAL FUNDS
Support by Mutual Funds for Sustainability Proposals Increases, but is it Happening Quickly Enough?
SocialFunds.com talks with Jackie Cook of Fund Votes about the results of voting by mutual funds on shareowner proposals in 2011 relating to sustainability.
NEWS BRIEF:
SHAREOWNER ACTION | SOCIAL ISSUES | FINANCIAL INDUSTRIES
Zuccotti Park Cleared of Occupy Protesters
Police action to remove activists from original Occupy Movement encampment occurs two days before planned rally to shut down Wall Street.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING | CORPORATE POLITICAL SPENDING
Corporate Political Spending: More Disclosure but a Billion Dollars Spent in 2010
The IRRC Institute confirms that more boards oversee political expenditures but that more money is being spent as well.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Window of Opportunity for Acting on Climate Change Closing Fast
The International Energy Agency warns that without a binding international agreement within five years, global temperatures could increase by 6°C.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Administration Punts on Controversial Oil Pipeline
The State Department's decision to review planned route through Nebraska is likely to put off a final decision until 2013.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | EXECUTIVE COMPENSATION
Executive Compensation Policies Slightly Better After Say on Pay Regulation
GMI analyzes executive compensation packages at S&P 500 companies, and finds incremental improvement as well as a correlation between ratings and proxy votes.
NEWS STORY:
CORPORATE REPORTING | INTEGRATED REPORTS
CR Reporting on Upswing, but Improvements in Implementation and Assurance are Needed
KPMG surveys the state of Corporate Responsibility reporting among the world's largest companies, and helps the Global Reporting Initiative produce a database of corporate sustainability disclosures.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
I Was Never a Climate Change Skeptic, Physicist Richard Muller Now Says
In a study partly funded by the Koch brothers, a team of Berkeley physicists conclude that climate change is real and that studies debunked by skeptics were in fact accurate.
NEWS BRIEF:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
Crowdfunding to Help Small Business Development in Underserved Communities
Opportunity Finance Network and Starbucks collaborate on Create Jobs for USA, which will leverage donations to fund small business job creation in communities hit hardest by the recession.
NEWS BRIEF:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
Populist Outrage Takes on Big Banks
Today is Bank Transfer Day, and consumers are encouraged to move their accounts from megabanks to credit unions and community development banks.
NEWS STORY:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
New SJF Ventures Fund Is Designated a SBIC Impact Fund
The North Carolina-based venture capital partnership receives green light to capitalize a $75 million fund that will invest in cleantech startups in low-to-middle income communities.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING | POLITICAL EXPENDITURES
Investors Call on SEC to Regulate Corporate Political Spending
SocialFunds.com talks with Adam Kanzer of Domini Social Investments about the investor effort to persuade the Securities and Exchange Commission to consider regulation of corporate political spending. Second of a two-part series.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING | CORPORATE POLITICAL SPENDING
Democrats Seek to Limit Corporate Political Spending
A group of Senators introduces a constitutional amendment that would authorize Congress to regulate political spending and allow states to do so. First of a two-part series.
NEWS BRIEF:
SHAREOWNER ACTION | PROXY ADVISORY SERVICES
ISS Seeks Investor Input for Revised Proxy Voting Policies
Institutional Shareholder Services says the comment period for the 2012 update of its proxy voting policies will run through November 7th.
NEWS BRIEF:
ENVIRONMENTAL ISSUES
Business Partnership Supports Administration's Goals for Climate Change Adaptation
Calvert Investments and other companies form the Partnership for Resilience and Environmental Preparedness to support business cooperation in developing a national strategy for adapting to climate change.
NEWS BRIEF:
SOCIAL ISSUES | HUMAN RIGHTS | FORCED LABOR
Will California Law Help Eradicate Human Trafficking?
A white paper from Verite argues that companies need to go beyond compliance with the law to effectively address forced labor and human trafficking throughout their supply chains.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | POLITICAL SPENDING
Index Ranks Companies on Political Spending Disclosure
The Center for Political Accountability collaborates with the Zicklin Center for Business Ethics Research in the Index of Corporate Political Disclosure and Accountability, which ranks companies in the S&P 100 according to their disclosure and board oversight of political spending.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | ALTERNATIVE INVESTMENTS | INSTITUTIONAL INVESTORS
More Alternative Investment Funds are Embracing ESG
US SIF and Tellus Institute report that sustainable investment strategies by alternative investment funds increased to $80.9 billion in assets under management by 2011.
NEWS BRIEF:
SHAREOWNER ACTION | SOCIAL ISSUES | FINANCIAL INDUSTRIES
More Fodder for Uprising Against Economic Inequality
The Congressional Budget Office reports that household income of the top one percent grew by 275% between 1979 and 2007.
NEWS BRIEF:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
CDFIs from Maine and Pennsylvania are 2011 NEXT Awardees
Coastal Enterprises will expand its Working Partner Initiative, while The Progress Fund will expand and support replication of its Trail Town Program.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | MEDIA COMPANIES
Murdoch to Shareowner Activists: the Polls are now Closed
Julie Tanner of Christian Brothers Investment Services describes the frustration of advocating for governance reforms at the annual meeting of scandal-plagued News Corp.
NEWS BRIEF:
SUSTAINABLE DEVELOPMENT | FINANCIAL INDUSTRIES
Time to Improve the Equator Principles, BankTrack Says
As the Equator Principles Association prepares a draft of new principles, BankTrack calls for increased transparency and more attention to climate change and human rights.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | ENERGY EFFICIENCY
Ignoring Stalemate in Congress, States Still Embrace Energy Efficiency
Massachusetts displaces California in the American Council for an Energy-Efficient Economy's fifth study of states' energy efficiency efforts.
INTERVIEW:
SHAREOWNER ACTION | SOCIAL ISSUES | FINANCIAL INDUSTRIES
How Occupy Wall Street and Sustainable Investment are Aligned
SocialFunds.com talks with Sonia Kowal of Zevin Asset Management about social unrest and its impact on the prospects for long-term sustainable investment.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | CARBON MANAGEMENT | FIXED-INCOME INVESTING
New Green Bonds Product Will Support Climate Protection
State Street Global Advisors says its High Quality Green Bond product will invest in green bonds issued by supranational or multilateral development banks.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | INSTITUTIONAL INVESTORS
Investors Managing $20 Trillion in Assets Call for Climate Change Policies
A coalition of 285 institutional investors say that effective domestic policies and a binding international agreement are needed to spur private investment in clean technologies.
INTERVIEW:
ENVIRONMENTAL ISSUES | CORPORATE REPORTING
Why the Newsweek Green Rankings are Important
SocialFunds.com talks with Cary Krosinsky of Trucost about the methodology and the significance of the findings of this year's results.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CORPORATE REPORTING
Munich Re and IBM Lead Companies in Newsweek's 2011 Green Rankings
IBM moves up from third place finish last year to first in US, and HP ranks second for second year in row; Dell drops from first to fifth, and Munich Re tops list of global companies.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | EDUCATIONAL INSTITUTIONS
Billion Dollar Green Challenge to Universities: $1 Billion in Green Energy Investments
32 universities already commit $65 million to self-managed green revolving funds.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE
News Corp, Nine Other Firms Singled out for Poor Governance
GMI Risk List highlights ten companies with poor governance issues and other ESG-related concerns.
NEWS BRIEF:
CORPORATE REPORTING | CARBON MANAGEMENT | SUPPLY CHAINS
Greenhouse Gas Protocol Sets Standards for Scope 3 Reporting
A new report provides guidance to companies for reporting on indirect emissions in their supply chains.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CORPORATE REPORTING
GRI Proposes Reporting Guidelines for Ecosystem Impacts
With health of global ecosystems at risk, the Global Reporting Initiative proposes reporting on ecosystems impacts that go beyond general environmental reporting.
NEWS STORY:
SUSTAINABLE INVESTMENT | CORPORATE REPORTING
SRI in the Rockies: Moskowitz Prize Winner Presents Paper
Co-author Sadok El Ghoul explains how corporate social responsibility lowers cost of equity.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE
Proxy Firm Tells US Investors to Oust News Corp Directors
Citing concerns about objectivity and independence, Glass Lewis advises shareowners to vote against six of the media giant's directors.
NEWS STORY:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
SRI in the Rockies: CDFI Fund Director Donna Gambrell Delivers Keynote Address
Gambrell challenges sustainable investors to help "realize the tremendous potential that exists for a partnership" with the CDFI industry.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING
SRI in the Rockies: Public Policy as a Strategic Tool for Sustainable Investment
Leading voices for shareowner action discuss public policy engagement at this year's SRI in the Rockies conference.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES
Mainstream Support for Environmental Resolutions Grows
A resolution calling for a report on social and environmental risks to Smuckers coffee business, filed by sustainable investors, gains wide support from mainstream shareholders as well.
NEWS BRIEF:
CORPORATE REPORTING | EMERGING MARKETS
Asian Companies Show Improvement in ESG Reporting
As sustainable investors increasingly turn their attention to emerging markets, EIRIS finds that environmental, social, and governance (ESG) performance by Asian companies needs improvement.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE REPORTING | CORPORATE POLITICAL SPENDING
Almost 500 Firms Asked to Disclose Political Spending
Citing the risks posed to corporations by Citizens United, the Center for Political Accountability asks companies to adopt disclosure on political spending in advance of 2012 proxy season.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | CORPORATE GOVERNANCE
Winner of 2011 Moskowitz Prize for Socially Responsible Investing is Announced
The winning paper, announced tonight at SRI in the Rockies, finds that cost of equity capital is lowered for companies with good corporate social responsibility practices.
NEWS STORY:
SUSTAINABLE INVESTMENT | INSTITUTIONAL INVESTORS
Pension Funds in US Slow to Add Sustainable Investment Options
US SIF survey of ESG uptake by defined contribution plans reveals that while most respondents have little or not understanding of sustainable investment, most expect an increase in interest in next five years.
NEWS BRIEF:
COMMUNITY INVESTMENT | EMERGING MARKETS
New Equity Fund to Invest $25 Million in East African Agribusiness
Members of the Global Impact Investing Network will invest $25 million to grow small and medium-sized enterprises in the agricultural sector of the region.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | EXECUTIVE COMPENSATION
Council of Institutional Investors Analyzes Say-on-Pay Proposals
A report from the CII finds that pay for performance issues were cited most often by institutional investors as the reason for voting against management proposals.
NEWS STORY:
SHAREOWNER ACTION | INSTITUTIONAL INVESTORS
ICCR Celebrates Forty Years of Shareowner Activism
More than 300 attend event that included a panel discussion on corporate responsibility and an eloquent address by Paul Neuhauser on shareowner action to end apartheid in South Africa.
NEWS BRIEF:
CORPORATE REPORTING | INTEGRATED REPORTS
Investors Call for Mandatory Integrated Reporting
The Corporate Sustainability Reporting Coalition, led by Aviva Investors, urges United Nations member states to require companies to include sustainability issues in annual financial reporting.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CORPORATE REPORTING | FOOD AND BEVERAGE
Sysco Agrees to Report to CDP Water
CalSTRS withdraws shareowner resolution after foodservice giant agrees to transparent sustainability management strategies.
NEWS BRIEF:
COMMUNITY INVESTMENT | INSTITUTIONAL INVESTORS
Clinton Praises $10 Billion Green Infrastructure Investment
The Investment and Training for American Infrastructure, launched by the AFL-CIO and the American Federations of Teachers, commits $10 billion in investment in energy-efficient infrastructure improvement and will train 140,000 workers.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOV ERNANCE
Despite Court Ruling, Opportunity for Proxy Access Remains
SocialFunds.com talks with corporate governance advocate James McRitchie about the challenges and potential benefits provided by SEC Rule 14a-8, which was left standing when Rule 14a-11 was struck down.
NEWS BRIEF:
SHAREOWNER ACTION | INSTITUTIONAL INVESTORS
Ceres Issues Proxy Voting Guidance
A new report argues that institutional investors without clear guidelines on sustainability issues run the risk of breaching their fiduciary duty.
NEWS STORY:
ENVIRONMENTAL ISSUES | CORPORATE REPORTING | CARBON MANAGEMENT
US Companies Don't Wait for Regulation, Address Climate Change to Compete
The Carbon Disclosure Project's survey of S&P 500 companies finds that the number integrating climate change into business strategies nearly doubles.
NEWS BRIEF:
SUSTAINABLE DEVELOPMENT | ENVIRONMENTAL ISSUES
Sustainability Issues Persist but Urgency to Address them Declines
A survey of sustainability experts finds that while issues such as energy, climate change, and water scarcity remain critical, a sense of urgency in dealing with them is declining.
NEWS BRIEF:
SHAREOWNER ACTION | INSTITUTIONAL INVESTORS
Trillium Wraps Up 2011 Proxy Season
Asset management firm's resolutions led to successful engagement on environmental reporting, political spending, and Internet privacy.
NEWS BRIEF:
COMMUNITY INVESTMENT | INSTITUTIONAL INVESTORS
CalPERS to Quadruple Investment in California Infrastructure
Pension fund earmarks $800 million for investments of at least $150 million in infrastructure projects that support essential community services.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | INSTITUTIONAL INVESTORS
More Large Companies Have Climate Change Strategies
In its most recent annual report, the Carbon Disclosure Project finds that for the first time a majority of Global 500 companies integrate climate change into business strategies.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | ENERGY EFFICIENCY | INFORMATION TECHNOLOGY
CDP Explains Benefits of Cloud Computing
The Carbon Disclosure Project finds that the transition to cloud computing could lead to energy cost savings of $12.3 billion by 2020, and carbon reductions of 85.7 million metric tons.
NEWS BRIEF:
CORPORATE REPORTING | INTEGRATED REPORTING
International Integrated Reporting Committee Proposes Integrated Reporting Framework
With input from investors and other key stakeholders, the IIRC publishes a discussion paper for the convergence of financial and sustainability reporting.
NEWS BRIEF:
SHAREOWNER ACTION | PROXY ACCESS | INSTITUTIONAL INVESTORS
Investors Continue to Press SEC on Proxy Access
Institutional investors with $2 trillion in assets urge the Securities and Exchange Commission to issue regulations allowing proxy access.
NEWS STORY:
ENVIRONMENTAL ISSUES | RENEWABLE ENERGY
Scoreboard Details Increased Investment in Green Economy
The Green Transition Scoreboard of Ethical Markets Media finds that private sector investment in green companies and technologies is likely to reach $10 trillion by 2020.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CORPORATE REPORTING | TECHNOLOGY
Google Finally Comes Clean on Energy Usage
The IT giant's energy consumption continues to grow, but with the help of renewable energy sources and the purchase of carbon offset credits the company claims to have been carbon neutral since 2007.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | STOCK MARKET INDEXES
Dow Jones Sustainability Indexes Completes Annual Update
Medtronic and Goldman Sachs are added, while Coca-Cola, Hewlett-Packard, and Microsoft are dropped.
NEWS STORY:
SUSTAINABLE INVESTMENT | CORPORATE REPORTING | INSTITUTIONAL INVESTORS
PRI Issues 2011 Report on Progress
While integration of environmental, social, and corporate governance factors remains limited as a proportion of the global market, the report indicates that such integration is growing across asset classes.
NEWS BRIEF:
COMMUNITY INVESTMENT | FIXED INCOME ASSETS
Sustainable Initiatives Supported by Fixed Income Investing
A white paper from Community Capital Management describes five categories of fixed income investments that can support environmental and social goals while providing competitive returns.
BOOK REVIEW:
ENVIRONMENTAL ISSUES | HUMAN RIGHTS
Book Review: Tropic of Chaos, by Christian Parenti
Author Christian Parenti writes of how the catastrophic convergence of poverty, violence, and climate change is already destabilizing regions of the world, and of the worldwide conflagration that is likely to occur if climate change remains unchecked.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | AGRICULTURE | INSTITUTIONAL INVESTORS
PRI Launches Farmland Initiative
Eight institutional investors join to develop the Principles for Responsible Investment in Farmland, to ensure that investment in farmland is sustainable and transparent.
NEWS BRIEF:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
Report Surveys Ten-Year Performance of Community Development Banking Institutions
The National Community Investment Fund reports that community development banking institutions have risks and returns comparable to mainstream banks, while offering far greater social impact.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | REAL ESTATE INDUSTRY | INSTITUTIONAL INVESTORS
Real Estate Industry Demonstrates Benefits of Energy Efficiency
The findings of a report by the Global Real Estate Sustainability Benchmark Foundation suggest that real estate funds and companies have improved their environmental performance since 2009.
NEWS STORY:
ENVIRONMENTAL ISSUES | CORPORATE REPORTING | INSURANCE INDUSTRY
Insurers Unprepared for Climate Change
A report from Ceres analyzes responses from insurance companies to a survey by the National Association of Insurance Commissioners, and calls for mandatory disclosure to correct failures of risk management.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE REPORTING | POLITICAL SPENDING
Investors Support Call for SEC Rulemaking on Political Spending
The International Corporate Governance Network writes to the Securities and Exchange Commission in support of petition from academics calling for regulation of corporate political spending.
NEWS BRIEF:
SHAREOWNER ACTION | OIL AND GAS INDUSTRY | HYDRAULIC FRACTURING
SEC Considering Oversight of Hydraulic Fracturing
As investor concerns over the risks of hydraulic fracturing increase, news reports indicate that the Commission is asking companies for information relating to chemicals used in the practice.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING | POLITICAL SPENDING
Will Howard Schultz Reform Corporate Political Spending?
The Starbucks CEO has called on fellow executives to boycott personal contributions because of political gridlock in Washington, but will his campaign lead to greater scrutiny of corporate political spending?
NEWS BRIEF:
ENVIRONMENTAL ISSUES | WATER
Cap-and-Trade Program for Water Quality Advances
The Electric Power Research Institute receives a $1 million grant from the US Department of Agriculture for its Ohio River Basin Water Quality Trading Project, which seeks to improve watersheds at lower cost.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE
Increased Support for Shareowner Proposals in 2011
Reports on 2011 proxy season by ISS and Ernst & Young reveal that shareowner support for social and environmental proposals continues to grow.
NEWS STORY:
COMMUNITY INVESTMENT | FINANCIAL INDUSTRY | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
Bond Program Will Increase Funding for CDFIs
Mark Pinsky of the Opportunity Finance Network talks with SocialFunds.com about the CDFI Bond Guarantee Program, which will allow community development financial institutions to access $3 billion in guaranteed financing.
NEWS BRIEF:
SHAREOWNER ACTION | PROXY ACCESS | INSTITUTIONAL INVESTORS
Investors Urge SEC to Pursue Proxy Access
The Council of Institutional Investors describes proxy access as its "number one priority" in a letter to the Commission.
INTERVIEW:
SUSTAINABLE INVESTMENT | EMERGING MARKETS
AfricaSIF Co-Founder Describes Challenges to Sustainable Investment in Africa
Graham Sinclair talks with SocialFunds.com about a recent report he authored on sustainable investment in sub-Saharan Africa, and the challenges to mainstreaming the practice on the continent.
NEWS BRIEF:
COMMUNITY INVESTMENT | RENEWABLE ENERGY | CONSTRUCTION INDUSTRY
Report Details State Legislation Supporting Green Building
The US Green Building Council finds that despite widespread concern over budget deficits, at least 30 pieces of legislation addressing green building have been enacted by states in 2011.
NEWS BRIEF:
CORPORATE REPORTING | OIL AND GAS INDUSTRY
Disclosure by Extractive Industries Could Help US Taxpayers
The Office of Natural Resource Revenue writes to the Securities and Exchange Commission in favor of rules requiring disclosure of payments to governments, stating that they could help ensure that energy companies are reimbursing US taxpayers.
NEWS BRIEF:
SHAREOWNER ACTION | HUMAN RIGHTS | OIL AND GAS INDUSTRY
Investors Call on Oil Companies to Consider Halting Operations in Syria
Institutional investors that are members of the Conflict Risk Network, referring to the Guiding Principles on Business and Human Rights, ask oil companies to condemn the harsh crackdown on demonstrations by the Syrian government of Bashar al-Assad.
NEWS STORY:
ENVIRONMENTAL ISSUES | CORPORATE GOVERNANCE | OIL AND GAS INDUSTRY
Can Shell Be Trusted with Drilling in Arctic?
The company's permit from the Interior Department to drill in the Arctic precedes by days an oil spill in the North Sea, and follows a UN report critical of its acceptance of responsibility for oil spills in Nigeria.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | FINANCIAL INDUSTRIES
Trucost Environmental Data to Reach More Investors
The environmental research provider partners with FactSet to add environmental risk management to the financial research company's offerings to clients.
NEWS BRIEF:
SHAREOWNER ACTION | INSTITUTIONAL INVESTORS
FairPensions Publishes Guide to Shareowner Resolutions
Building on the success of shareowner action over oil sands development, FairPensions guides NGOs and institutional investors through the process of filing resolutions in the UK.
NEWS STORY:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
Community Development Financial Institutions Anticipate Expanding Services
Mark Pinsky of Opportunity Finance Network talks with SocialFunds.com about the challenges and opportunities of providing financial products and services to low-income communities over the next 15 years.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | FOOD INDUSTRY
Shareowners Pressure Smucker's on Climate Change
Noting insufficient attention to the impact of climate change in the company's sustainability report, Calvert Investments and Trillium Asset Management call for a report on social and environmental risks to its coffee business.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT |FORESTRY
Media Company Launches Carbon Offsets Portal
REDDcarbonCredits seeks to inform sustainable investors about carbon offsets to decrease deforestation, which is responsible for 20% of the world's greenhouse gas emissions.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE
The Conference Board Forms Committee on Corporate Political Spending
After collaborating last year with the Center for Political Accountability on a Handbook on Corporate Political Activity, the Board seeks to educate its member businesses on the issue in advance of the 2012 elections.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | ENVIRONMENTAL ISSUES
Investors Ask Companies to Send Trade Associations to Neutral Corner
Walden Asset Management and Calvert Investments write to companies on the boards of the Chamber of Commerce and the National Association of Manufacturers, urging them to ask trade associations to end campaign against EPA regulation of climate.
NEWS BRIEF:
SOCIAL ISSUES | HUMAN RIGHTS | FINANCIAL INDUSTRIES
Oxfam Commends IFC for Revised Sustainability Framework
The IFC now says that its investments in private sector enterprises in developing countries will require Free Prior and Informed Consent and payments to host governments by companies in the extractive industries.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | MEDIA COMPANIES
Investors Call for Improved Governance at News Corp
In the aftermath of phone hacking and bribery scandals at the media company, members of the Interfaith Center on Corporate Responsibility call for separation of Chair and CEO positions and elimination of dual-class stock structure.
NEWS STORY:
CORPORATE GOVERNANCE | BOARD DIVERSITY | PROXY ACCESS | CORPORATE REPORTING
Sustainable Investors Respond to European Corporate Governance Report
Eurosif and UKSIF submit responses to the European Commission's green paper of corporate governance, calling for measures to improve board oversight, corporate reporting, and shareowner engagement.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Investor Group Supports Australian Carbon Tax
The Investor Group on Climate Change argues that industry opponents to the proposed tax of $25 per ton of carbon emissions have issued "misleading or mistaken" statements.
NEWS BRIEF:
SUSTAINABLE INVESTMENT
New Research Supports Outperformance of ESG Portfolios
A white paper by RCM studies data compiled by MSCI ESG Research and finds that a portfolio comprised of best-in-class companies outperforms benchmark over five years.
NEWS BRIEF:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
Community Development Banks: Too Important to Fail
The National Community Investment Fund reports that the risks and returns of Community Development Banking Institutions are similar to traditional banks, but that they have far greater social impact.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | RENEWABLE ENERGY
Barron Partners Forms Solar Energy Company
The private equity firm states that the goal of Soltas Energy is the installation of one gigawatt of solar power systems by 2016, and anticipates employing over 1,000 Americans.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING | POLITICAL SPENDING
Corporate Political Spending Will be a Major Issue in 2012
In the wake of successful shareowner votes during the 2011 proxy season, the Center for Political Accountability and The Conference Board collaborate on initiatives to increase transparency and board oversight of the practice.
NEWS BRIEF:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
Finalists for 2011 Wachovia Wells Fargo NEXT Awards are Announced
The annual awards are given to community development financial institutions that demonstrate innovative solutions for economically distressed communities and underserved people in the US.
BOOK REVIEW:
SUSTAINABLE INVESTMENT
Book Review: Dilemmas in Responsible Investment
Authors Celine Louche and Steve Lydenberg seek to prepare mainstream investment professionals for navigating the increasingly complex practice of sustainable investment.
NEWS BRIEF:
SOCIAL ISSUES | FINANCIAL INDUSTRIES | MORTGAGES
Wealth Gaps Between Whites and Minorities at Record Levels
A new study from the Pew Research Center confirms that the recession has had a far greater impact on Blacks and Hispanics than on Whites.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | RENEWABLE ENERGY | STOCK INDEXES
Shanghai Stock Exchange to Launch Sustainable Development Industry Index
The components of the Index will include companies engaged in energy efficiency as well as renewable energy and other low-carbon operations.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | INSTITUTIONAL INVESTORS
Investors to Obama and Congress: Raise the Debt Ceiling
A group of asset managers and owners warn that inaction could lead to a downgrading of US debt and threaten the savings of pension plan beneficiaries.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | INSTITUTIONAL INVESTORS
Is the Carbon Bubble About to Burst?
The Carbon Tracker Initiative finds that if global warming is to be contained, 80% of fossil fuels must remain unburned, leaving asset owners with holdings in the fossil fuels industries at risk.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
What Is the Real Social Cost of Carbon?
A new report from the Economics for Equity and the Environment Network argues that the figures arrived at by the US government are far too low, and that climate change mitigation is far less expensive than climate damage.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | FINANCIAL INDUSTRY
TIAA-CREF Publishes 2011 Socially Responsible Investing Annual Report
The report describes the accomplishments of the $470 billion financial services company in promoting sustainable investment according to environmental, social, and corporate governance (ESG) criteria.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | PROXY ACCESS
Court of Appeals Strikes Down SEC Rule on Proxy Access
The Court agreed with the Chamber of Commerce in finding that the rule, which would have allowed shareowners to have their nominees for boards of directors included in proxy materials, was "arbitrary and capricious."
NEWS BRIEF:
SUSTAINABLE INVESTMENT | PENSION FUNDS
Bill Would Give Federal Employees a Sustainable Investment Option
Congressman Jim Langevin reintroduces the Federal Employees Responsible Investment Act, which would provide a Corporate Responsibility Index as an investment option for federal employees.
NEWS BRIEF:
CORPORATE GOVERNANCE | HUMAN RIGHTS | MINING INDUSTRY
EIRIS Notes Some Progress in ESG Performance of Vedanta Resources
One year after finding that the mining company had breached international norms in its Indian operations, the sustainable investment researcher sees signs of progress on some fronts but insufficient attention paid to risk management.
NEWS STORY:
SUSTAINABLE INVESTMENT | EMERGING MARKETS | INSTITUTIONAL INVESTORS
Sustainable Investment in Sub-Saharan Africa Is Growing
A report by IFC finds that private equity and sustainability initiatives undertaken in South Africa have led to $125 billion in sustainable investment in Kenya, Nigeria, and South Africa.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | ENVIRONMENTAL ISSUES | INSTITUTIONAL INVESTORS
UKSIF Reflects on Twenty Years of Growth in Sustainable Investment
A report issued by the organization celebrates the growth of sustainable investment in the UK to $1.5 trillion, while acknowledging that more needs to be done to meet national emissions reduction and renewable energy goals.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | MEDIA COMPANIES
Shareowners Amend Lawsuit Against News Corporation
In an amended lawsuit, Amalgamated Bank argues that ineffective oversight by a board that has consistently been given an F rating by GovernanceMetrics International contributed to the phone hacking scandal now engulfing the company
NEWS STORY:
SHAREOWNER ACTION | PHARMACEUTICAL COMPANIES
Gilead Sciences Joins the Medicines Patent Pool
Gilead becomes the first pharmaceutical company to form a licensing agreement with the Pool, and will provide its HIV and Hepatitis B drugs at low cost to developing countries.
NEWS BRIEF:
CORPORATE REPORTING
Governance & Accountability Institute Chosen as Global Reporting Initiative Data Partner
The Institute is the GRI's only US-based Data Partner, and will monitor and collect the sustainability reports of US-based corporations.
NEWS BRIEF:
SHAREOWNER ACTION | HUMAN RIGHTS | ARMAMENTS INDUSTRY
Investors Call for International Treaty on Conventional Arms
Twenty-one institutional investors and signatories to the Principles for Responsible Investment argue that the Arms Trade Treaty will protect investors by addressing the irresponsible transfer of conventional weapons.
NEWS STORY:
SUSTAINABLE INVESTMENT | FINANCIAL INDUSTRY
ImpactAssets Seeks to Administer $1 Billion in Impact Investing Assets
Ten years after developing the Giving Fund for the Calvert Foundation, Tim Freundlich talks with SocialFunds.com about the nonprofit's efforts to catalyze investment for environmental, social, and financial impact.
NEWS STORY:
SOCIAL ISSUES | CORPORATE GOV ERNANCE
ICCR Launches Initiative to Improve Social Sustainability Measures
The Social Sustainability Resource Guide argues for a focus on long-term impacts of corporate activities in communities, and emphasizes a multi-stakeholder approach in addressing social issues.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | RENEWABLE ENERGY
Urgently Needed: Nothing Short of a Technological Revolution
A new report by the UN Department of Economic and Social Affairs warns that steps taken thus far to address climate change and food security are woefully insufficient, and argues that $1.9 trillion per year must be spent to end poverty and avert effects of climate change.
NEWS BRIEF:
EWNVIRONMENTAL ISSUES | POWER INDUSTRIES
EPA Finalizes Cross-State Air Pollution Rule
The rule covers emissions in 27 states in the eastern US and is expected to save as much as $280 billion a year in health and environmental costs.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | ENVIRONMENTAL ISSUES | RENEWABLE ENERGY
Investment in Renewable Energy Up in 2010
The annual survey by the UN Environment Program of investment in renewable energy technologies finds a 32% increase in 2010, to $210 billion.
BOOK REVIEW:
BOOK REVIEW
Book Review: The Age of Responsibility
Author Wayne Visser argues that corporate social responsibility as practiced thus far has failed, and describes a world where CSR practices can contribute to genuine sustainability in meaningful ways.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES
From ICCR, Fewer Shareowner Resolutions but More Effective Engagement
SocialFunds.com talks with Executive Director Laura Berry about the 2011 proxy season and her reasons for optimism over engagement with corporations.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | COAL INDUSTRY
As You Sow Reports on Investment Risks Associated with Coal
As shareowner support grows for resolutions addressing risks of reliance on coal and coal ash, a white paper details the decline of the industry's profitability.
NEWS BRIEF:
CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
Council of Institutional Investors Supports Dodd-Frank Regulation of Derivatives Market
In a letter, the CII calls on the Commodity Futures Trading Commission to reduce risk to the financial system by mandating that previously unregulated swaps meet margin requirements.
NEWS BRIEF:
CORPORATE GOVERNANCE | INSTITUTIONAL INVESTORS
UK to Review Long-Term Performance of Equity Markets
The review will seek to determine how to establish an equity investment regime that provides accountability and supports the long-term interests of companies and investors.
NEWS STORY:
SUSTAINABLE INVESTMENT | MUTUAL FUNDS
Tracking Error, Benchmarks, and Sustainable Investment Performance
SocialFunds.com talks with George Gay of First Affirmative Financial Network about the performance of sustainable and responsible investment portfolios.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE
Shareowner Action Contributes to Sea Change in Corporate Governance
GovernanceMetrics International reviews the results of the 2011 proxy season thus far, and finds that important corporate governance policies are now enshrined at most S&P 500 companies.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | MUTUAL FUNDS
MSCI Launches Socially Responsible Index Series
The indexes add exclusions of controversial industry sectors to the best-in-class criteria used by MSCI in its ESG index series.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES
Shareowner Support for Environmental Resolutions Continues to Grow
Tracking by Ceres of this year's environmental resolutions reveals that the average support for hydraulic fracturing proposals increased to 40% in 2011, up from 30% in 2010.
NEWS BRIEF:
SHAREOWNER ACTION | HUMAN RIGHTS
ICCR Leads Investor Effort to Address Human Trafficking in Corporate Supply Chains
A coalition of over 90 investors calls on 27 companies in six high-risk industry sectors to join in multi-stakeholder initiatives to combat a practice that currently enslaves tens of millions of men, women, and children.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | CORPORATE REPORTING | INSTITUTIONAL INVESTORS
PRI to Revamp Reporting Framework
The Principles for Responsible Investment will introduce in 2013 a new reporting framework for signatories that is aimed to improve transparency and produce key performance indicators.
NEWS STORY:
CORPORATE REPORTING | CARBON MANAGEMENT
Don't Believe in Climate Change? Then Adapt for Competitive Reasons.
SocialFunds.com talks with Hunter Lovins, author of Climate Capitalism and President of Natural Capitalism Solutions, about the business opportunities presented by adaptation to climate change.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | ENVIRONMENTAL, SOCIAL, AND GOVERNANCE RESEARCH
MSCI Launches MSCI ESG Manager
The MSCI ESG Manager, designed to help asset managers and owners manage ESG research, analysis, and compliance, includes on a single platform all of MSCI's research and analysis of companies listed on the MSCI World index.
NEWS BRIEF:
CORPORATE GOVERNANCE | HUMAN RIGHTS | APPAREL INDUSTRY
WikiLeaks Cable Describes US State Department Efforts to Undermine Minimum Wage in Haiti
After Haitian Parliament passed a law increasing minimum wage for textile workers to five dollars a day, US Embassy Deputy Chief of Mission David Lindwall wrote that it "appealed to the unemployed and underpaid masses."
NEWS BRIEF:
CORPORATE GOVERNANCE | HUMAN RIGHTS
UN Human Rights Council Endorses Guiding Principles on Business and Human Rights
Authored by Special Representative John Ruggie, the Principles state that business enterprises are responsible for remediation of human rights violations in which they are involved.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Report Recommends Private Sector Adaptation to Climate Change
While corporate signatories to the Caring for Climate initiative understand the risks and opportunities presented by climate change, few are taking concrete steps to formulate adaptive strategies.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | MUTUAL FUNDS
ING Retirement Plan Adds Sustainable Investment Option
ING's US Retirement Services will offer Pax World's ESG Managers Portfolios series of funds to participants in many of its defined contribution retirement plans.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | WATER SCARCITY
Risk Management in Water-Intensive Sectors Insufficient
EIRIS reports on corporate responses to water scarcity, finding that most demonstrate limited or no evidence of taking action to mitigate water risks.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE REPORTING
Layne Christensen Publishes First Sustainability Report
Despite rebuffing efforts by Walden Asset Management to engage on the issue, the company recommended a vote in favor of a resolution calling for sustainability reporting, and publishes a first report that is informed by Global Reporting Initiative guidelines.
NEWS STORY:
SUSTAINABLE INVESTMENT | CORPORATE GOVERNANCE
Is Corporate Social Responsibility a Distraction?
A paper by consultants at Dalberg Global Development Advisors argue for the return of a focus on the single bottom line of corporate profitability, but calls for a long-term horizon that coincides with the interests of sustainable investors.
NEWS STORY:
ENVIRONMENTAL ISSUES | INSTITUTIONAL INVESTORS
Report Surveys Climate Change Strategies of Global Investors
Three investor networks collaborate on a new report that details the different approaches to climate change among investors in North America, Europe, and Australasia.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | CORPORATE REPORTING
Initiative Aims to Standardize Ratings of Corporate Social Responsibility
Ceres and Tellus Institute announce the launch of the Global Initiative for Sustainability Ratings, which aims to provide a single standard for rating the sustainability performance of companies.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | CORPORATE GOVERNANCE
Study Compares Perception and Reality of Corporate ESG Risk Management
A report from Brandlogic and CRD Analytics warns that companies whose reputations exceed actual performance risk loss of value due to inaccurate assumptions by key stakeholders.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | EXECUTIVE COMPENSATION
CEO Compensation Rose Sharply in 2010
GovernanceMetrics International reports that annual compensation at S&P 500 companies increased by 35% in 2010, and the United States Proxy Exchange issues draft guidelines to help shareowners vote their say-on-pay proxies.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | STOCK INDEXES
Report Describes Ten Years of the FTSE4Good Index Series
The groundbreaking index series, launched by FTSE and EIRIS in 2001, has led to improved ESG performance of companies through evolving standards and corporate engagement.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE REPORTING
Investors Call on Russell 1000 Companies to Address Sustainability
Led by Ceres, a coalition of investors representing more than $1 trillion in assets under management writes to the CEOs of Russell 1000 companies, urging them to increase corporate attention to sustainability issues.
NEWS STORY:
SUSTAINABLE INVESTMENT | EMERGING MARKETS
Report Studies Impact Investing in Emerging Markets
Responsible Research finds that while challenges to effective measurement of social and financial benefits persist, the opportunities for impact investors in emerging markets are likely to grow.
NEWS BRIEF:
CORPORATE REPORTING
GRI Calls for Input into New Sustainability Guidelines
The Global Reporting Initiative announces that it will publish the G4 Sustainability Reporting Guidelines in 2013, and invites public input into their formation.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Resolutions Addressing Hydraulic Fracturing Continue to Attract Shareowner Support
At annual meeting of Ultra Petroleum, the company refuses to permit shareowners to present their proposal, but votes in favor double that of 2010.
NEWS STORY:
ENVIRONMENTAL ISSUES | WATER SCARCITY
World Resources Institute Launches Project to Measure Water Risk
The Aqueduct project compiles locally specific data on water risks to provide companies and investors with information to manage and reduce exposure.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CLIMATE CHANGE
Global Emissions Reach Record High in 2010
The International Energy Agency finds that, following a decline in global emissions in 2009, they increased by five percent over the previous record year, adding to the challenge of meeting reduction goals established at Cancun last year.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS
Shareowner Pressure on Hydraulic Fracturing Intensifies
Resolutions addressing the issue at Chevron and ExxonMobil, co-filed by As You Sow and other sustainable investors, win substantial shareowner support, and Ultra Petroleum declines to release results of vote at its annual meeting.
NEWS STORY:
CORPORATE GOVERNANCE | FINANCIAL INSTITUTIONS
Shadow Banking Scrutinized for Role in Financial Crisis
A report from Standard & Poor's details the effect of unregulated financial institutions on the financial crisis, and calls for regulatory oversight based on function rather than institutional charter.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | TRADE ASSOCIATIONS
National Association of Manufacturers Board Members Asked to Clarify Their Positions on Climate Change
A coalition of investors points out misalignment between the climate change positions of 43 corporations and that of the trade association on whose board they sit, and asks for clarification.
NEWS STORY:
CORPORATE GOVERNANCE | HUMAN RIGHTS | INSTITUTIONAL INVESTORS
As Violence Erupts Again in Sudan, Investors Call for Engagement
An Investor Statement by the Sudan Engagement Group of the Principles for Responsible Investment, issued before this week's occupation of Abyei, calls for awareness of risks associated with doing business in conflict areas.
NEWS BRIEF:
CORPORATE GOVERNANCE | PROXY ADVISORY FIRMS | INSTITUTITONAL INVESTORS
Ernst & Young Buys Assets of Proxy Governance
The purchase of the proxy advisory firm's assets will add to Ernst & Young's newly established Corporate Governance Group.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Trillium Asks SEC to Investigate Chevron Disclosures
Discrepancies in assessing the impact on the company of an $18 billion judgment in Ecuador raise questions about the disclosures included in SEC filings.
NEWS BRIEF:
SHAREOWNER ACTION | HUMAN RIGHTS
Investors Call for End to Human Trafficking in Corporate Supply Chains
The Interfaith Center on Corporate Responsibility issues a statement detailing ethical and financial cases for addressing human trafficking in supply chains, and sends letters to 25 companies calling for comprehensive policies on the issue.
NEWS BRIEF:
CORPORATE REPORTING | INDIVIDUAL INVESTORS
Guide to Auditing Is Designed to Help Investors
The Center for Audit Quality publishes an In-Depth Guide to Public Company Auditing, to help individual investors understand the auditing process and its role in assuring accurate financial reporting.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | PENSION FUNDS
CalSTRS To Include ESG in Discussions with Asset Managers
At the Ceres Conference 2011, the pension fund announces that all performance-based discussions with its external managers will include how they are incorporating environmental, social, and corporate governance (ESG) factors into investment strategies.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | PENSION FUNDS
CalPERS Will Integrate ESG Considerations Across all Asset Classes
At the Ceres Conference 2011, CalPERS CEO Anne Stausboll announces that the pension fund will expand its integration of environmental, social, and corporate governance (ESG) factors to include all five asset classes in which it invests.
NEWS STORY:
SHAREOWNER ACTION | POLITICAL SPENDING | MEDIA COMPANIES
News Corporation Adopts Political Spending Policy
The Nathan Cummings Foundation calls on the owner of Fox News and the Wall Street Journal to add board oversight and payments to trade associations to the policy.
NEWS STORY:
SHAREOWNER ACTION | HUMAN RIGHTS | FINANCIAL INSTITUTIONS
Genocide-Free Investing Proposal Wins Support at JPMorgan
A first-time resolution requesting that the company institute procedures to prevent investment in companies that contribute to genocide, submitted by Investors Against Genocide, wins 7.69% of shareowners' votes.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Chevron's Disclosures to Investors on Risks Associated with Ecuador are Questioned
As shareowners file resolutions addressing environmental and human rights risks, a new report finds discrepancies between Chevron's court statements and disclosures in its annual report.
NEWS BRIEF:
SHAREOWNER ACTION | HUMAN RIGHTS | PENSION FUNDS
SEC Allows TIAA-CREF Omission of Shareowner Resolution on Israel Divestment
Shareowner activists led by Jewish Voice for Peace requested that the pension fund engage with companies that profit from Israeli occupation, and divest if engagement proves unsuccessful.
NEWS BRIEF:
COMMUNITY INVESTMENT | MICROFINANCE | EMERGING MARKETS
LeapFrog Investment in East African Microinsurer Is the Largest in African History
The fund invests $14 million in Apollo Investment to provide insurance coverage to 7.9 million self-employed people in Africa.
NEWS STORY:
SHAREOWNER ACTION | HUMAN RIGHTS | TOBACCO INDUSTRY
Decades of Shareowner Engagement with Tobacco Companies Yield Mixed Results
SocialFunds.com talks with Reverend Michael Crosby, an ICCR member who since 1980 has filed shareowner resolutions addressing health issues, marketing tobacco products to children, and human and labor rights for tobacco farmworkers.
NEWS STORY:
CORPORATE GOVERNANCE | FINANCIAL INDUSTRIES | FINANCIAL CRISIS
Should Goldman Sachs Face Criminal Charges?
The report on the financial crisis by the Senate Subcommittee on Investigations details how the investment bank created conflicts of interest by profiting from the financial products that caused losses for its clients, and urges regulators to consider possible violations of law.
NEWS STORY:
SUSTAINABLE INVESTMENT | BENEFIT CORPORATIONS
B Lab Advocates for Legislation Allowing Corporations to Have a Social Mission
The nonprofit has certified more than 400 companies as B Corps, while advocating for benefit corporation legislation that has passed in four states thus far.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | FINANCIAL INDUSTRIES
Protestors Arrested at Wells Fargo Meeting
As the protestors call for a moratorium on foreclosures by the bank, a shareowner proposal calling for an audit of foreclosure practices wins support.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | FINANCIAL INDUSTRIES | INSTITUTIONAL INVESTORS
Citi Adds ESG Cash Collateral Management Option to Securities Lending
The bank partners with Sustainalytics to provide a sustainable investment option for its securities lending cash collateral investment program.
NEWS STORY:
SUSTAINABLE INVESTMENT
The State of Sustainable Investment in Canada
The Social Investment Organization publishes its biennial study of sustainable investment in Canada, and reports that despite the impact of the financial crisis the uptake of sustainable investment strategies by asset managers has increased.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE
How Companies Should Respond to ESG-Related Shareowner Resolutions
Ernst & Young publishes a white paper that traces the increase in resolutions addressing environmental, social, and corporate governance issues, and advises companies to recognize the link between sustainability and financial performance.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
BP to Pay $85 Million for Oil Spills in Alaska
The company agrees to pay $25 million in civil penalties and $60 million for pipeline improvements after "gross negligence" led to spills of more than 5,000 barrels of oil on Alaska's North Slope in 2006.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | INSTITUTIONAL INVESTORS
Institutional Shareowners Debate Corporate Governance
In a panel discussion held during the Milken Institute Global Conference, hot topics such as executive compensation, board diversity, and government regulation are addressed.
NEWS BRIEF:
CORPORATE GOVERNANCE | FINANCIAL INSTITUTIONS
European Commission to Investigate Antitrust Violations by Banks
The Commission will investigate possible collusion among 16 banks in the marketing of credit default swaps.
NEWS BRIEF:
SHAREOWNER ACTION | BOARD DIVERSITY
Resolution Calls for Board Diversity at American Financial Group
Calvert and the Evangelical Lutheran Church request that the company, which has no women or minorities on its board or in senior management, adopt a policy to ensure that diversity is considered in board nominations.
NEWS STORY:
SHAREOWNER ACTION | HUMAN RIGHTS | TELECOMMUNICATIONS INDUSTRY
Shareowners to Vote on Motorola's Human Rights Policy
As charges of complicity with the Israeli occupation of Palestinian lands mount and organizations call for divestment, ICCR members seek to reform the company's human rights policy with a shareowner resolution.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | INSTITUTIONAL INVESTORS
First-Ever Fifth Analyst Call Takes Place
More than 50 investors participate in Fifth Analyst Call with Occidental Petroleum, in which corporate governance issues relating to executive compensation and board composition are discussed.
NEWS STORY:
SUSTAINABLE INVESTMENT | INSTITUTIONAL INVESTORS
FTSE and EIRIS Launch Ratings of Corporate ESG Performance
The Ratings build upon ten years of collaboration on the FTSE4Good Index Series, and aim to provide institutional investors with a system for measuring the ESG practices of public companies.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | EMERGING MARKETS
Report Finds Support for ESG Benefits over Long Term
A new report by risklab anticipates a renewed investor focus on growth assets, and finds that consideration of environmental, social, and corporate governance factors can lead to substantially reduced risks.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | COAL INDUSTRY
Resolution on Coal Waste Management Wins Substantial Shareowner Support
Forty-six percent of Ameren shareowners back a resolution by the Midwest Coalition for Responsible Investment for greater disclosure on coal waste management.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | CREDIT RATING AGENCIES
Governance Resolution at Moody's Wins Majority Support
A resolution calling for the separation of the positions of CEO and Chairman of the Board receives 56% of shareowner votes.
NEWS BRIEF:
SHAREOWNER ACTION | FINANCIAL INDUSTRIES | INSTITUTIONAL INVESTORS
Proxy Season Opens for Big Banks
At Citigroup, resolutions calling for an independent audit of foreclosure practices and the restoration of confidence in the financial system receive shareowner support.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Even After Gulf Disaster, Engagement on Deepwater Drilling Frustrates Investors
While shareowner activists consider next steps in engagement with BP, industry responses to a letter from Ceres indicates resistance to an independent safety organization. Second of a two-part series.
NEWS STORY:
SHAREOWNER ACTION | PROXY ACCESS | OIL AND GAS INDUSTRY
Inside BP's Annual General Meeting
One year after the oil spill, BP's annual meeting draws protests from Gulf Coast residents as well as a campaign by sustainable investors to vote against the company's annual report. First of a two-part series.
NEWS STORY:
ENVIRONMENTAL ISSUES | FINANCIAL INDUSTRY | NUCLEAR POWER
HSBC Contracts with Bulgaria to Fund Nuclear Power Plant in Seismic Area
As radiation continues to escape the crippled Japanese plant, BankTrack criticizes HSBC's decision as "incomprehensible," and MSCI issues report questioning the credibility of the nuclear industry.
NEWS BRIEF:
COMMUNITY INVESTMENT | RENEWABLE ENERGY | PRIVATE EQUITY
New Fund Will Invest in Clean Tech in Louisiana
SAIL Capital Partners launches the Louisiana Sustainability Fund, which will invest in sustainable businesses in Louisiana and mitigate risk by focusing on established later-stage growth companies.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | CONSUMER PRODUCTS INDUSTRY
Engagement Seeks to Increase Recycling of Consumer Products and Packaging
As You Sow wins commitments from three major bottlers to adopt Extended Producer Responsibility policies, and expands its engagement to include other major consumer product companies.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | MINING INDUSTRY
Investors Urge EPA to Review Proposed Alaska Pebble Mine
Led by Calvert and Trillium Asset Management, the investor coalition joins local activists to warn of potential ecosystem degradation if permits for proposed mine are approved.
NEWS STORY:
COMMUNITY INVESTING | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
Trends Point Toward a Growing Surge in Community Investing
The Social Investment Forum identifies a tenfold increase in community investing over ten years, to which continued government funding and frustration with the abusive practices of big banks have contributed.
NEWS STORY:
SUSTAINABLE INVESTMENT | STOCK MARKET INDEXES
New Sustainability Indexes to Feature Transparent Methodology
STOXX and Sustainalytics partner on a series of environmental, social, and governance (ESG) whose transparent methodology allows investors to understand factors determining company ratings.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Investors to Vote Against BP's Annual Report
One year after the Gulf of Mexico disaster, the investor coalition contends that BP's accounts and reports lack disclosure of information about the company's strategy.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | SHAREOWNER ACTION | MUTUAL FUNDS
Mutual Fund Votes for Climate Resolutions Decline
Ceres and Fund Votes conduct annual survey of voting by mutual funds on shareowner resolutions relating to climate change, and find they have declined for first time since 2007.
NEWS STORY:
SOCIAL ISSUES | HUMAN RIGHTS INSTITUTIONAL INVESTORS
Diverse Stakeholders Support SEC Regulation of Conflict Minerals
Both investors and a multi-stakeholder group of companies, nongovernmental organizations, and investors contribute to rules that will require companies to disclose whether they use conflict minerals originating in the Democratic Republic of the Congo.
NEWS BRIEF:
Pax World Launches Campaign to Promote Gender Diversity of Corporate Boards
Citing studies indicating that board diversity improves financial performance, CEO Joe Keefe asks investors to adopt proxy voting policies that encourage the election of women to boards of directors.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | INSTITUTIONAL INVESTORS
New CDP Initiative Requests that Companies Move Beyond Reporting to Action on Climate Change
Thirty-four institutional investors partner with CDP Carbon Action to ask companies in FTSE Global Equity Index to demonstrate that they are managing carbon emissions effectively.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | POLITICAL SPENDING
Shareowner Activists to Bypass Proxy Ballot in Addressing Board Membership at Chamber of Commerce
A coalition of investors led by Walden Asset Management plans to introduce resolutions from the floor of Annual General Meetings of six companies, asking them to compare their own policies, priorities and actions to those of the Chamber.
NEWS BRIEF:
SUSTAINABLE INVESTING | INSTITUTIONAL INVESTORS
2011 College Sustainability Report Card is Published
In its annual evaluation of the campus and endowment sustainability activities at colleges and universities with the largest endowments in the United States and Canada, the Sustainable Endowments Institute recognizes 23 as Endowment Sustainability Leaders.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | INSTITUTIONAL INVESTORS
Investors Urge Congress to Let EPA Regulate Greenhouse Gas Emissions
As the Agency's authority to regulate emissions comes under attack, sustainable investors argue that inconsistent climate policies are already damaging the US economy.
NEWS STORY:
SHAREOWNER ACTION | HUMAN RIGHTS | FINANCIAL INSTITUTIONS
SEC Allows Proposal for Genocide-Free Investing on JPMorgan Proxy Ballot
SocialFunds.com speaks with Eric Cohen of Investors Against Genocide about its strategy to expand upon engagement with mutual funds to seek a fundamental change on the issue in the financial industry.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | MUTUAL FUNDS
Appleseed Fund Launches Institutional Share Class
Designated by Morningstar as the top performing mid-cap fund over the past three years, the Fund invests in sustainable companies while excluding sin stocks and too-big-to-fail banks.
NEWS STORY:
CORPORATE GOVERNANCE | HUMAN RIGHTS
Guiding Principles on Business and Human Rights are Published
Professor John Ruggie, the UN Secretary-General's Special Representative for Business and Human Rights, provides a common platform for adoption of the Protect, Respect and Remedy Framework by states, business, and victims of human rights violations.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Harrington Investments Divests Chesapeake Energy
The investment advisory firm says the natural gas drilling company's poor environmental and executive compensation performance are reasons for divestment.
NEWS STORY:
ENVIRONMENTAL ISSUES | NUCLEAR POWER
Criticism of Nuclear Power Increases Following Disaster in Japan
As high levels of radiation continue to escape Japanese nuclear reactors, RepRisk issues a special report on risks associated with nuclear power.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | CORPORATE GOVERNANCE
Definitions May Vary, but Sustainable Investment Can Outperform
A review of recent academic literature on sustainable investment by Kimberly Gladman of GovernanceMetrics International finds that incorporating environmental, social, and corporate governance factors can improve investment performance.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | WATER SCARCITY
Investors Note Success in Engagement on Water Issues
Ceres announces that resolutions on water management filed with three electric utilities have been withdrawn after successful engagement.
NEWS STORY:
CORPORATE GOVERNANCE | INSTITUTIONAL INVESTORS
Contracts Between Asset Owners and Fund Managers Should Include Language on ESG Risks
The Model Mandate Initiative of the International Corporate Governance Network proposes contract terms that include long-term risk assessment, codes for stewardship of active ownership, and mandates for transparency.
NEWS STORY:
SOCIAL ISSUES | HUMAN RIGHTS | EXTRACTIVE INDUSTRIES
Oxfam Urges Obama to Support El Salvador Mining Ban
On the occasion of the President's visit to the country, Oxfam calls on him to support the government in a trade dispute with a gold mining company.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | RENEWABLE ENERGY TECHNOLOGIES
Markets for Clean Technologies Continue to Grow
A report from Clean Edge compares the 2010 performance of clean-tech companies to its projections in 2001, and finds increased growth in revenues and venture capital investment.
NEWS BRIEF:
CORPORATE GOVERNANCE | INSTITUTIONAL INVESTORS
Criminal Charges Likely in Probe of Former CalPERS CEO
A report commissioned by the California Public Employees' Retirement System details evidence of corruption in the relationship between its former CEO and a placement agent.
NEWS STORY:
SUSTAINABLE INVESTMENT | CORPORATE GOVERNANCE
New Research Finds Few Companies Prepared for Effective Sustainability Management
A report by oekom research finds that while sustainable investment is growing globally, few companies are adequately prepared to measure and improve their sustainability performance.
NEWS BRIEF:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
Treasury Awards $3.5 Billion in New Markets Tax Credits
The Community Development Financial Institutions Fund allocates $3.5 billion to 99 organizations to promote growth in communities with high rates of poverty and unemployment.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | INSTITUTIONAL INVESTORS
European Commission Issues Roadmap for Emissions Reductions by 2050
In response to the publication of Roadmap 2050, the Institutional Investors Group on Climate Change calls on policy makers to encourage the private investment necessary to meet reduction targets.
NEWS BRIEF:
SHAREOWNER ACTION | HUMAN RIGHTS | TRAVEL INDUSTRY
Delta Is First Major Airline to Sign Code to Combat Child Sex Tourism
ECPAT-USA announces that airline has joined almost 1,000 global companies in signing commitment to protect children from sexual exploitation in the travel and tourism industries.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Top Consumer Brands Lag on Climate Change
A report by EIRIS analyzes the climate change performance of the world's top 100 brands and finds that most are failing to adequately address risks.
NEWS BRIEF:
CORPORATE GOVERNANCE | BOARD DIVERSITY
Underrepresentation of Women on Boards Persists
A report by GovernanceMetrics International finds that despite new legislation in several countries mandating board diversity, the percentage of women on boards has barely increased since 2009.
NEWS STORY:
FILM REVIEW | CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
Film Review: Inside Job
Writer-director Charles Ferguson's Oscar-winning documentary explores the roots of the financial crisis and the global recession that followed.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | FINANCIAL INSTITUTIONS
Will Corporate Governance Reform Become Reality?
A report from the United Nations Conference on Trade and Development documents corporate governance failures that led to the financial crisis and provides recommendations for reform.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | FINANCIAL INSTITUTIONS
Demonstrations Call for End to World Bank Investment in Fossil Fuels
NGOs orchestrate demonstrations at offices of the World Bank, calling on it to return to its mission of fighting poverty by ending its funding of fossil fuel projects.
NEWS BRIEF:
SHAREOWNER ACTION | HUMAN RIGHTS | INSTITUTIONAL INVESTORS
Investors Call for Immigration Reform that Protects Undocumented Immigrants
A coalition of more than 60 institutional investors advocate for reform measures that provide for economic growth while protecting the human rights of immigrants.
NEWS STORY:
SHAREOWNER ACTION | PROXY ACCESS | INSTITUTIONAL INVESTORS
Fifth Analyst Call Would Add Governance Issues to Talks with Issuers
SocialFunds.com talks with Elizabeth McGeveran of F&C and Deborah Gilshan of Railpen about a proposal for annual dialogue between investors and companies on corporate governance.
NEWS STORY:
SHAREOWNER ACTION | PROXY ACCESS
Companies and Shareowners Differ on what Engagement Means
Benchmarking of views on engagement by investors and issuers finds that changes in corporate behavior is most likely when shareowners are in agreement on an issue.
NEWS BRIEF:
SHAREOWNER ACTION | SOCIAL ISSUES | HUMAN RIGHTS | OIL AND GAS INDUSTRY
Investors Urge Oil Companies to Suspend Payments to Libya
Citing human rights risks, the Conflict Risk Network recommends that oil companies in Libya place revenue payments in a Recovery Fund in order to avoid helping the government in its attacks on civilians.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | EXCHANGE-TRADED VEHICLES
iShares Launches Sustainable ETFs
Two new sustainable equity exchange-traded vehicles will track the Dow Jones Sustainability Indexes and trade on the London Stock Exchange.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Report Offers Guidance to Companies on Climate Change Disclosure
Ceres identifies areas that companies should address in their climate change reporting, and provides examples of what constitutes best practice at present.
NEWS STORY:
SHAREOWNER ACTION | INSTITUTIONAL INVESTORS | PROXY ACCESS
As You Sow Publishes Proxy Preview 2011
Following record-breaking support in 2010, shareowner activists have filed 359 shareowner resolutions addressing ESG issues in 2011.
NEWS BRIEF:
SUSTAINABLE INVESTMENT
Is SRI 3.0 Ready for Mainstream?
Farnum Brown of Trillium Asset Management argues that improved environmental, social, and corporate governance data will lead to the mainstreaming of sustainable investing.
NEWS STORY:
SOCIAL ISSUES | CORPORATE REPORTING | EXTRACTIVE INDUSTRIES
SEC is Urged to Issue Regulations Mandating Reporting on ESG Issues by Extractive Industries
Oxfam America and Calvert support strong regulation on disclosure by companies in extractive industries of payments to governments.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | INSTITUTIONAL INVESTORS
Strategies Offered to Accelerate Sustainable Investment
A recently published white paper from the World Economic Forum (WEF) seeks to contribute to a global transition to sustainable investing.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | FIDUCIARY DUTY | INSTITUTIONAL INVESTORS
Concepts of Fiduciary Duty Face Revision for Retail and Institutional Investors
Both the Department of Labor and the Securities and Exchange Commission have proposed updates to the definition of fiduciary duty to broaden the number of those considered fiduciaries.
NEWS STORY:
SUSTAINABLE INVESTMENT | ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | INSTITUTIONAL INVESTORS
Mercer Issues Report on Climate Change and Investment
Warning that portfolio risk could increase by 10% in the next 20 years, Mercer recommends that at least 40% of the portfolios of institutional investors include investments in climate change mitigation and adaptation.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | PROXY ACCESS
Proxy Firms Back Majority Vote at Apple
Egan-Jones, Glass Lewis, and ISS Proxy Advisory Services announce their support for a shareowner resolution filed by CalPERS, requesting that Apple adopt a majority vote standard in unopposed director elections.
NEWS BRIEF:
SUSTAINABLE DEVELOPMENT | INFRASTRUCTURE
Infrastructure and ESG: Are Trade-offs Inevitable?
Eurosif reports that financing of the infrastructure sector will require private investment, and recommends action to ensure that environmental, social, and corporate governance (ESG) considerations are addressed.
NEWS STORY:
CORPORATE REPORTING | CARBON MANAGEMENT | SUPPLY CHAINS
Carbon Disclosure Project Publishes Third Supply Chain Report
The 57 corporate members of the CDP Supply Chain program received responses on emissions reduction from over 1,000 supply chain companies, a 40% improvement over 2009.
NEWS STORY:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
New Markets Tax Credits Come Under Media Scrutiny
Mark Pinsky of the Opportunity Finance Network talks with SocialFunds.com about revelations that tax credits intended for underserved communities were used to finance the renovation of a luxury hotel in Chicago.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | INSTITUTIONAL INVESTORS
CDP Sends Requests to Companies for Information on Climate Change and Water
Support from institutional investors for requests for information on water use, now in its second year, more than doubles to 354, with $43 trillion in assets under management.
NEWS STORY:
CORPORATE REPORTING | INTEGRATED REPORTS
Guidelines for Integrated Reporting are Proposed
The Integrated Reporting Committee issues a discussion paper on guidelines for companies in South Africa that are required by the Johannesburg Stock Exchange to produce integrated reports.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | INSTITUTIONAL INVESTORS
Asset Owners Urged to Address Climate Change in Their Investments
The Asset Owners Disclosure Project develops a methodology for the incorporation of climate change risks and opportunities in investment decision-making by asset owners.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | EXECUTIVE COMPENSATION
GovernanceMetrics Publishes Executive Pay Scorecard
A new report studies executive compensation disclosures by S&P 500 companies in 2010, and assesses their compliance according to a series of ten compensation governance tests.
NEWS BRIEF:
CORPORATE REPORTING | EXTRACTIVE INDUSTRIES
Investors Call for Improved Disclosure of Mine Safety
In response to proposed rules by the Securities and Exchange Commission, the Social Investment Forum argues that corporate disclosure of comparable mine health and safety data is necessary for investors.
NEWS STORY:
SOCIAL ISSUES | COMMUNITY INVESTMENT | MICROFINANCE
PRI Launches Inclusive Finance Initiative
Forty global investors have signed the Principles for Investors in Inclusive Finance, which seek to encourage sustainable institutions and improve client protection.
NEWS BRIEF:
SHAREOWNER ACTION | EXECUTIVE COMPENSATION
Investors Call for Annual Votes on Executive Compensation
A coalition of 39 institutional investors responds to SEC rules governing shareowner votes on executive compensation by urging companies to support annual, rather than triennial, votes.
NEWS STORY:
SOCIAL ISSUES | INSTITUTIONAL INVESTORS
Oxfam's Better Returns in a Better World Project Seeks Poverty Alleviation Through Investment
SocialFunds.com speaks with Helena Vińes Fiestas of Oxfam about the results of roundtable discussions with institutional investors seeking to incorporate social considerations into investment.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | POLITICAL SPENDING
Anniversary of Citizens United Commemorated with Shareowner Resolutions
Requests by NYC Pension Funds for improved disclosure of corporate political spending join resolutions filed by ICCR members, and letters to companies on the Board of the Chamber of Commerce.
NEWS BRIEF:
SHAREOWNER ACTION | OIL AND GAS COMPANIES | HYDRAULIC FRACTURING
Resolutions Challenge Hydraulic Fracturing by Nine Oil and Gas Companies
After receiving strong support in the 2010 proxy season, an investor coalition led by Green Century Capital Management and the Investor Environmental Health Network requests improved risk management and better disclosure.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | EXECUTIVE COMPENSATION
SEC Adopts Rules for Say on Pay
In accordance with the Dodd-Frank financial reform bill, the Securities and Exchange Commission issues rules on executive compensation and golden parachutes.
NEWS STORY:
SHAREOWNER ACTION | PROXY VOTING | PROXY ADVISORY SERVICES
New Proxy Advisory Service to Meet the Needs of Foundations and Sustainable Investors
Long-time shareowner advocate Michael Passoff launches Proxy Impact, a proxy advisory firm that seeks to align investment with mission for sustainable investors.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Investor Coalition Withdraws Resolution at BP
The resolution, which called for improved risk management and disclosure by the company responsible for the Gulf of Mexico oil spill, is withdrawn to give BP more time to demonstrate improvement.
NEWS STORY:
CORPORATE REPORTING
Global Reporting Initiative to Launch US Operation
GRI's Focal Point US, scheduled to launch on January 31 at the New York Stock Exchange, seeks to increase the number of US companies using its standardized framework for sustainability reporting.
NEWS BRIEF:
CORPORATE REPORTING
Number of Companies Expelled from the Global Compact Tops 2,000
More than 200 companies are expelled from the Global Compact at the end of a 2010 moratorium, and the organization introduces a Differentiation Framework to improve disclosure.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | FINANCIAL INSTITUTIONS
Carbon Principles Fail to Reduce Financing of Coal
A study of the Carbon Principles by the Rainforest Action Network finds that the six signatory banks have continued to finance carbon-intensive projects while failing to increase investment in renewable energy.
NEWS STORY:
SHAREOWNER ACTION | PROXY VOTING | INSTITUTIONAL INVESTORS
ICCR Publishes 2011 Proxy Resolutions Book
The mid-season review of shareowner resolutions filed by ICCR members includes the full text of 159 resolutions addressing environmental, social, and corporate governance issues.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | FINANCIAL INSTITUTIONS
Financial Sector Is Unprepared to Assess Risks of Climate Change
A survey of financial institutions indicates that while they expect to incorporate climate risks into their business practices, information at present is insufficient.
NEWS BRIEF:
SHAREOWNER ACTION | SOCIAL ISSUES | HUMAN RIGHTS | TECHNOLOGY
Boston Common Divests of Cisco Systems Over Human Rights Risks
After years of dialogue and shareowner resolutions, weak human rights risk management and poor shareowner dialogue lead to divestment.
NEWS STORY:
SUSTAINABLE INVESTMENT | SOCIAL ISSUES | INSTITUTIONAL INVESTORS | EMERGING MARKETS
Barriers Continue to Challenge Investment for Poverty Alleviation
Based on two years of research, a report by Oxfam International encourages engagement by investors to improve corporate reporting, and recommends that governments require companies to report on social issues.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | SHAREOWNER ACTION | OIL AND GAS INDUSTRY
Organizations Decry Canadian Tar Sands Development by European Companies
The UK Tar Sands Network leads an effort to call attention to a Comprehensive Economic and Trade Agreement that could open Europe up to imports of tar sands oil.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | OIL AND GAS INDUSTRY
Oil Spill Commission Submits Final Report
The National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling identified failures of corporate governance by BP and its contractors, and strongly recommends rigorous legislative and regulatory oversight.
NEWS BRIEF:
SHAREOWNER ACTION | SOCIAL ISSUES | HUMAN RIGHTS | TRAVEL AND TOURISM INDUSTRY
Shareowners Ask Hotels to Help Prevent Human Trafficking at Super Bowl
An investor coalition led by Christian Brothers Investment Services requests that hotels take steps to ensure that they are not inadvertently promoting human trafficking.
NEWS STORY:
ENVIRONMENTAL ISSUES | CORPORATE REPORTING
Smaller Companies Lagging in Climate Change Reporting
A report by Pax World and Clean Air-Cool Planet finds that only four of the Russell 2000 small- to mid-cap companies studied report their greenhouse gas emissions.
NEWS STORY:
COMMUNITY INVESTING | IMPACT INVESTING | INSTITUTIONAL INVESTORS
Report Describes Impact Investing as an Alternative Asset Class
SocialFunds.com talks with Antony Bugg-Levine of the Rockefeller Foundation about the growing interest in impact investing, as well as the challenges that remain to its large-scale adoption.
NEWS BRIEF:
CORPORATE GOVERNANCE
RepRisk Names Most Environmentally and Socially Controversial Companies of 2010
Transocean and BP, responsible for the Gulf of Mexico oil spill, are named the most controversial companies in RepRisk's third annual report.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | RENEWABLE ENERGY
EU Will Meet Renewable Energy Targets for 2020
An analysis by the European Wind Energy Association finds that just over 20% of the European Union's energy consumption will be provided by renewable sources by 2020.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | OIL AND GAS INDUSTRY
Advance Chapter of Report on Gulf Disaster Is Released
The National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling finds that the Deepwater Horizon explosion was caused by failures of management, and asserts that the root causes were systemic.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | BOARD DIVERSITY | PENSION FUNDS
CalPERS' Majority Vote Initiative Results in 20 Companies Adopting the Standard
Launched by the pension fund last March, the Majority Vote Initiative asks 58 companies to voluntarily adopt a majority vote standard in uncontested board elections.
NEWS STORY:
ENVIRONMENTAL ISSUES | CORPORATE GOVERNANCE
Top Sustainable Investment Stories of 2010
Despite their negative impacts, the Supreme Court's Citizens United Decision and the BP oil rig explosion in the Gulf of Mexico galvanized sustainable investors.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
EPA Regulations on Emissions Take Effect
As of January 2, 2011, new and upgraded power plants must install technology to reduce greenhouse gas emissions.
NEWS BRIEF:
CORPORATE REPORTING
Major Sustainability Reporting Initiatives Announce Partnership
The Organization for Co-operation and Development and the Global Reporting Initiative will cooperate to improve sustainability reporting by multinational companies.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | BOARD DIVERSITY | GENDER ISSUES
Women Directors Improve Corporate Performance, but Remain Underrepresented
A report by Corporate Women Directors International on the status of women directors in 51 countries finds persistent lack of access to board appointments.
BOOK REVIEW:
BOOK REVIEW | CORPORATE GOVERNANCE
Book Review: Corporate Governance and Complexity
The authors use complexity theory to argue that the inclusion of the voices of all stakeholders leads to improved corporate governance.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CORPORATE REPORTING | OIL AND GAS COMPANIES
Oil Spill Commission Asked to Recommend Improved Disclosure by Offshore Drillers
The Investor Network on Climate Risk requests that the final report of the BP Deepwater Horizon Oil Spill Commission, due in January, include recommendations that disclosure of risks be improved.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | RENEWABLE ENERGY TECHNOLOGIES
Government Policies Will Help Speed Adoption of Renewable Energy in Southern US
Report from the Southeast Energy Efficiency Alliance suggests that, led by wind and biopower, a diversity of renewable energy technologies could help replace the region's reliance on coal as a power source.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Companies Ranked by Climate Counts Improve Scores by 14% in 2010
Nike again finishes first among companies ranked by scorecard that measures emissions reduction, public policy, and reporting.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | SOCIAL ISSUES | PENSION FUNDS | OIL AND GAS INDUSTRY
Norway's Pension Fund Invests in Companies with Ties to Burma's Military Regime
Despite ethical guidelines for Norway's pension fund, EarthRights International finds its investments in oil and gas companies in Burma contribute to human rights violations.
NEWS STORY:
CORPORATE GOVERNANCE | FINANCIAL INSTITUTIONS
Cuomo Sues Ernst & Young Over Lehman Brothers Accounting
New York Attorney General says accounting firm knew that investment banker engaged in fraudulent transactions to conceal debt on balance sheet and mislead investors.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CORPORATE GOVERNANCE | BIODIVERSITY
Business Falls Short on Policies Addressing Biodiversity
A report from EIRIS suggests that the optimism of the COP 10 agreement on biodiversity will be premature until business is involved, and recommends that investors pressure companies to contribute to solutions.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Shareowner Resolution Addresses Risk Management at BP
Long-time shareowner Christian Brothers Investment Services leads investor effort to engage with BP on better disclosure of risk assessment and mitigation.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | FINANCIAL INSTITUTIONS
Recommendations for Corporate Governance of Banks Seek to Avoid Past Failures
SocialFunds.com talks with Justin Levis of the Council of Institutional Investors about the recently issued principles for enhancing corporate governance by the Basel Committee on Banking Supervision.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | ASSET MANAGERS
Transparency by UK Asset Managers Remains Low
A report by FairPensions finds an increase in policies addressing the integration of ESG issues by asset managers, but that many still do not disclose engagement activities.
NEWS BRIEF:
CORPORATE GOVERNANCE | EXECUTIVE COMPENSATION | FINANCIAL INSTITUTIONS
Executive Compensation on Wall Street Remains Focused on Short Term
A report by the Council of Institutional Investors concludes that compensation packages on Wall Street contributed to the financial crisis, and that current pay practices are even worse.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | POLITICAL SPENDING
Silence of Chamber Board Members Is a Failure of Corporate Governance
SocialFunds.com talks with Tim Smith of Walden Asset Management about investor engagements with companies that sit on the Board of the US Chamber of Commerce.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | INSTITUTIONAL INVESTORS
Survey of European Asset Owners Finds Incentives for ESG Integration Vary
A report by Novethic finds an increasing alignment among asset owners of ESG practices with fiduciary responsibility, but a lingering focus on short-term performance as well.
NEWS STORY:
CORPORATE GOVERNANCE | EMERGING MARKETS
ESG Transparency and Performance Improves Among Emerging Market Companies
A Eurosif report on emerging markets finds an increase in the uptake of sustainability issues by companies, and recommends that investors encourage continual improvement.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | OIL AND GAS INDUSTRY
Unproven Fuel Extraction Technologies Pose Risks for Investors
A report from Ceres details the risks to investors of the unproven extraction technologies of oil shale and coal-to-liquid.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | BUILDING CONSTRUCTION
Efforts of US Homebuilders to Address Climate Change are Insufficient
A report by Calvert finds inadequate disclosure on the environment by homebuilders, but also notes improvements by the industry in adopting energy efficiency measures.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | POLITICAL SPENDING
Handbook Guides Corporations on Disclosure of Political Activity
SocialFunds.com talks with Bruce Freed, President of the Center for Political Accountability and co-author of the Handbook on Corporate Political Activity, about efforts to increase corporate disclosure of payments to trade associations.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Low-Carbon Investment Not Enough to Mitigate Climate Change
A report by the World Business Council for Sustainable Development argues for clear policy signals from governments to encourage private investment in low-carbon technologies.
NEWS BRIEF:
CORPORATE GOVERNANCE | INVESTMENT RESEARCH | MERGERS & ACQUISITIONS
Another Merger for The Corporate Library
The Corporate Library and GovernanceMetrics International follow July merger by merging with Audit Integrity, another corporate governance research firm.
NEWS STORY:
SHAREOWNER ACTION | MUTUAL FUNDS | GENOCIDE
Investors Testify Before Congress on Sudan
Eric Cohen of Investors Against Genocide and Adam Kanzer of Domini Social Investments speak before the House of Representatives on divestment from Sudan.
NEWS STORY:
COMMUNITY INVESTMENT | MICROFINANCE |EMERGING MARKETS
Microfinance in India Faces a Crisis
Amid charges of unsustainable interest rates and overly aggressive collections practices, the state of Andhra Pradesh has issued an ordinance that would regulate microfinance institutions at a regional level.
NEWS STORY:
SUSTAINABLE INVESTMENT | INSTITUTIONAL INVESTORS
The State of Sustainable Investment in Australia
SocialFunds.com speaks with Louise O'Halloran, Executive Director of Responsible Investment Association Australasia, about the growing acceptance of sustainable investment in Australia.
NEWS BRIEF:
SHAREOWNER ACTIVISM | CORPORATE GOVERNANCE | CORPORATE POLITICAL SPENDING
Shareowners Launch Campaign Against Corporate Political Spending
Investors call for board oversight and disclosure of all political spending by corporations.
BOOK REVIEW:
BOOK REVIEW | SUSTAINABLE INVESTMENT
Book Review: What Investors Really Want
Author Meir Statman argues for behavioral finance in interpreting investor behavior, and finds sustainable investment practice an effective method of incorporating expressive and emotional factors into investment decision-making.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
2010 Moskowitz Prize is Awarded to Researchers from the European Center for Corporate Engagement
Authors Bauer and Hann receive the annual prize for quantitative research in sustainable investing for their study on the effects of corporate environmental management on the cost of debt.
NEWS STORY:
SUSTAINABLE INVESTMENT
Sustainable Investment in Australia and New Zealand Outperformed Market in 2010
The tenth annual report on sustainable investment from Responsible Investment Association Australasia finds a 25% increase in assets in 2010, to $74 billion.
NEWS BRIEF:
COMMUNITY INVESTMENT | FIXED INCOME FUNDS
Community Investing Fixed-Income Fund Reaches $1 Billion in Assets under Management
Community Capital Management's Community Reinvestment Act (CRA) Qualified Investment Fund has invested over $3 billion in community development activities.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | EXECUTIVE COMPENSATION
Overall CEO Pay Saw Marginal Decline in 2009
The latest in a series of annual reports by The Corporate Library on executive compensation finds the greatest decrease in tax gross-ups, or payment by companies of taxes on compensation packages.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT |INSTITUTIONAL INVESTORS
Investors Call on World Leaders to Act Now on Climate Change
A coalition of 259 institutional investors call for an agreement at this month's climate conference that will stimulate the private investment necessary to address climate change.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | SUPPLY CHAINS | APPAREL COMPANIES
As You Sow Reports on Supply Chain Compliance Programs of Apparel Companies
The report surveys the supply chain compliance programs of 15 US-based apparel companies, and finds that most have codes of conduct and audit their suppliers, but few hold senior executives responsible for improved compliance.
NEWS STORY:
ENVIRONMENTAL ISSUES | WATER SCARCITY | INSTITUTIONAL INVESTORS
CDP Water Issues First Annual Report on Corporate Water Usage
Backed by 137 institutional investors, the Carbon Disclosure Project initiative asks 302 large companies in water-dependent industry sectors to report on water usage.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | OIL AND GAS INDUSTRIES
EPA Finalizes Emissions Reporting Rules for Petroleum and Natural Gas Industry
Large facilities in the industry will be required to monitor and report all greenhouse gas (GHG) emissions to the EPA.
NEWS STORY:
FILM REVIEW | ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Film Review: Carbon Nation Celebrates Small-Scale Responses to Climate Change
The documentary profiles entrepreneurs and activists who have contributed to climate change mitigation, and recommends investment in green technologies.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | SHAREOWNER ACTION | INSTITUTIONAL INVESTORS | COMMODITIES MARKETS
CalSTRS Backs Off from Plan for Huge Commodities Investment
Decision follows expressions of concern by sustainable investors over effect of price volatility on world hunger.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | INSTITUTIONAL INVESTORS
CalPERS Proposes Changes to Focus List Methodology
The pension fund's Investment Office recommends engagement with companies in which it has the largest ownership stake, and the inclusion of one-year stock returns in its selection process.
NEWS STORY:
SUSTAINABLE INVESTMENT
Growth in Sustainable Assets Outpaces Mainstream
The 2010 Trends Report by the Social Investment Forum finds that sustainable assets have grown by 13% since 2007, compared to less than one percent by mainstream assets.
NEWS BRIEF:
CORPORATE REPORTING | STAKEHOLDER ENGAGEMENT
Despite Recession, More Companies Are Producing Sustainability Reports
PricewaterhouseCoopers publishes fourth in a series of surveys of sustainability reporting, recommending the Global Reporting Initiative and the UN Global Compact as starting points for new reporters.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES | HUMAN RIGHTS
Investors Ask Companies in Sudan to Respect Human Rights
In advance of a January 2011 vote on independence, investor members of the Conflict Risk Network calls on telecommunications and oil and gas companies operating in Sudan to ensure they do not infringe on human rights.
NEWS BRIEF:
COMMUNITY INVESTMENT | ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Carbon Disclosure Project Launches CDP Cities
The initiative asks 40 of the world's largest cities to measure and disclose greenhouse gas (GHG) emissions and climate change mitigation strategies.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES | MEDIA COMPANIES
Catholic Investors Target Pornography
Christian Brothers Investment Services leads initiative to request improved transparency from major media companies that distribute pornography.
NEWS STORY:
ENVIRONMENTAL ISSUES | CORPORATE REPORTING
World Bank Forms Partnership for Valuation of Ecosystems
SocialFunds.com talks with the World Resources Institute about the initiative to integrate the economic benefits of ecosystems into national accounting systems.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE
Midterm Elections Challenge Priorities of Sustainable Investors and Shareowner Advocates
In the wake of the Supreme Court's Citizens United decision, spending by outside interest groups more than doubles, jeopardizing the fate of legislation addressing issues of importance to sustainable investors.
NEWS BRIEF:
SOCIAL ISSUES | CORPORATE GOVERNANCE | BOARD DIVERSITY | GENDER ISSUES
Women and Minorities Are Underrepresented in Highest-Paid Executive Positions
A report by Calvert finds improved disclosure of policies addressing gender diversity among S&P 100 companies, but insufficient disclosure of the effectiveness of those policies.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CONSUMER GOODS
Leading Companies Are Taking Proactive Approach to BPA
Report by Green Century Capital Management and As You Sow finds increased attention by food, beverage, and retail companies to bisphenol A in packaging.
NEWS STORY:
ENVIRONMENTAL ISSUES | WATER SCARCITY | UTILITIES
Water Scarcity Is a Growing Risk for Public Utilities and for Investors in Municipal Bonds
A report from Ceres and Water Asset Management finds inadequate disclosure of risks by public water and electric utilities, and that rating agencies may foster wasteful consumption by ignoring risks.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | RENEWABLE ENERGY
Investors Urge California Voters to Reject Proposition 23
Investor coalition argues that repeal of California's Global Warming Solutions Act would lead to the loss of billions of dollars in clean energy investment in the state.
NEWS STORY:
SUSTAINABLE INVESTMENT | INSTITUTIONAL INVESTORS
Will the Principles for Responsible Investment Prevail in the US?
SocialFunds.com talks with Peter Kinder, the founder of KLD Research and Analytics, about his self-described gloomy assessment for large-scale uptake of the Principles in the short term.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Newsweek Publishes Second Annual Green Rankings of Companies
For its 2010 environmental rankings, Newsweek expands beyond the 500 largest US companies to include the 100 largest global corporations as well.
NEWS STORY:
SUSTAINABLE INVESTMENT | FINANCIAL INSTITUTIONS
An Interview with John Fullerton
The founder of the Capital Institute talks with SocialFunds.com about its goal of transforming the global financial system to reflect sustainable principles.
NEWS BRIEF:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
Boston Community Capital and Enterprise Cascadia Are Wachovia Wells Fargo NEXT Awardees
Annual award for Community Development Financial Institutions recognize foreclosure strategy of BCCC and green financing by Enterprise.
NEWS STORY:
SHAREOWNER ACTION | FINANCIAL INSTITUTIONS | SUBPRIME MORTGAGES
SEC Settlement with Countrywide Executives: A Template for Personal Liability?
SocialFunds.com speaks with Laura Berry of the Interfaith Center on Corporate Responsibility about shareowner engagement addressing subprime lending that stretches back to the 1990s. Second in a two-part series.
NEWS STORY:
COMMUNITY INVESTING | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
Securities and Exchange Commission Settles with Predatory Lenders
SocialFunds.com speaks with David Beck of Self-Help Credit Union about the settlement with Countrywide executives, as well as the outlook for community development financial institutions. First in a two-part series.
NEWS BRIEF:
SHAREOWNER ACTION | SOCIAL ISSUES | GENDER DIVERSITY
Investors Call for More Women on Boards and in Senior Management
Calvert, Pax World, and Walden Asset Management ask 54 companies for greater clarity about gender balance, and call for increased representation of women on boards and in senior management.
NEWS STORY:
SHAREOWNER ACTIVISM | SOCIAL ISSUES | HUMAN RIGHTS | GENOCIDE
Eric Cohen Discusses Genocide-Free Investing
The Chairperson of Investors Against Genocide describes his efforts to engage with financial institutions on the issue, as well as the organization's new focus on financial advisors. Second of a two-part series.
NEWS STORY:
SHAREOWNER ACTIVISM | SOCIAL ISSUES | HUMAN RIGHTS | GENOCIDE
Investors Against Genocide Expands Focus Beyond Shareowner Engagement to Include Recommendations for Financial Advisors
A white paper published by the organization documents successful engagements with financial institutions, as well as advice for financial advisors whose clients wish to practice genocide-free investing. First of a two-part series.
NEWS BRIEF:
SUSTAINABLE INVESTMENT
Eurosif Publishes Results of Survey on Sustainable Investment in Europe
The survey finds that bonds have replaced equity as the favored asset class for sustainable investors, and overall sustainable assets under management have reached almost $7 trillion.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | RENEWABLE ENERGY | WIND POWER
Google Invests in Ambitious Wind Power Project for the Atlantic Ocean
Along with Good Energies, a renewable energy investment firm, Google commits to a 37.5% stake in the initial development stage of the 350-mile Atlantic Wind Connection project.
NEWS BRIEF:
CORPORATE GOVERNANCE | SOCIAL ISSUES | FINANCIAL INSTITUTIONS | BRIBERY AND CORRUPTION
UK Banks Complicit in Nigerian Corruption
A report by Global Witness finds that even after the public outcry in 2001 over money laundering by former Nigerian dictator Sani Abacha, UK banks continued to accept deposits from corrupt Nigerian officials.
NEWS STORY:
SHAREOWNER ACTIVISM | PROXY ACCESS
Proxy Access Rules On Hold Until Court Challenge by Chamber of Commerce is Heard
Resolution of lawsuit is expected to be too late for proxy access rules to be implemented for 2011 proxy season.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | SHAREOWNER ACTIVISM
Shareowner Engagement Leads to FTC Ruling on Mercury Labeling
Dialogue with GE by As You Sow results in mercury cleanup instructions on packaging of compact fluorescent light bulbs.
NEWS BRIEF:
SOCIAL ISSUES | HUMAN RIGHTS | SHAREOWNER ACTIVISM
Toyota Divests Stake in Joint Venture with Military Regime in Burma
Responding to investor pressure led by Domini Social Investments, Toyota announces divestiture, although it continues agricultural and apparel production in Burma.
NEWS STORY:
ENVIRONMENTAL ISSUES | INSTITUTIONAL INVESTORS
Environmental Damage Cost $6.6 trillion in 2008
A new report uses data from Trucost to find that the cost of environmental damage equaled 11% of Gross Domestic Product, and was 20% larger than pension fund losses from financial crisis.
NEWS BRIEF:
CORPORATE REPORTING | SUPPLY CHAINS | HUMAN TRAFFICKING
Human Trafficking Bill Becomes Law in California
Companies doing business in the state will now be required to disclose whether they have policies addressing human trafficking in their supply chains.
NEWS STORY:
CORPORATE REPORTING | KEY PERFORMANCE INDICATORS
Corporate Reporting on Key Performance Indicators Should Be Industry Specific
Building on the universe of indicators established by the Global Reporting Initiative, a new report argues that a targeted list of issue areas would help stakeholders assess the sustainability performance of companies.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | PRINCIPLES FOR RESPONSIBLE INVESTMENT
Principles for Responsible Investment Publishes 2010 Report on Progress
Most signatories report having an investment policy addressing environmental, social, and corporate governance, and assign responsibility for the policy to senior executives.
NEWS BRIEF:
CORPORATE GOVERNANCE | ENVIRONMENTAL, SOCIAL AND GOVERNANCE ISSUES
Largest US Companies Report Board-Level Responsibility for ESG Issues
A report by Calvert and The Corporate Library find significantly less board oversight in smaller companies, and few boards that address risk management and stakeholder engagement.
NEWS STORY:
CLIMATE CHANGE | CAP AND TRADE
To Meet Targets, EU Greenhouse Gas Emission Trading System Needs Improvement
A report by oekom research recommends that emissions reduction permits be auctioned, and that the system be expanded to include more industry sectors and types of emissions.
NEWS BRIEF:
CORPORATE GOVERNANCE | INSTITUTIONAL INVESTORS | PROXY ADVISORY SERVICES
NYSE Euronext Issues Report on Corporate Governance
The exchange's Commission on Corporate Governance recommends board-level commitment to long-term sustainable growth, transparency by institutional investors, and regulation of proxy advisory services.
NEWS STORY:
CLIMATE CHANGE | CORPORATE REPORTING
Carbon Disclosure Project Issues 2010 Reports on Climate Change Disclosure by Companies in Global 500 and S&P 500
Reports find that while companies in the US continue to lag behind their global counterparts, improvement has been recorded, and the top companies continue to improve disclosure.
NEWS BRIEF:
SUSTAINABLE INVESTING | PENSION FUNDS
Bill Would Give Federal Employees a Sustainable Investment Option
Rhode Island Congressman Langevin introduces bill to allow for investment by federal employees in companies committed to corporate responsibility.
NEWS BRIEF:
CORPORATE SOCIAL RESPONSIBILITY | INSTITUTIONAL INVESTORS
As CSR Reporting Goes Mainstream, Standardized Approaches Are Needed
A report by the United Nations Conference on Trade and Development finds that investors seeking environmental, social, and governance information need greater comparability.
NEWS STORY:
COMMUNITY INVESTMENT | NONPROFIT BUSINESS MODELS
Report Encourages the Application of For-Profit Business Model to Nonprofit Management
NFF Capital Partners issues report detailing the success of some nonprofits in attracting philanthropic equity investments to subsidize their activities.
NEWS STORY:
SHAREOWNER ACTIVISM | COAL ASH | REGULATORY ACTION
Investors Call for Federal Regulation of Coal Ash
Investor coalition urges the Environmental Protection Agency to label coal ash as a hazardous waste and subject companies to federal regulations.
NEWS STORY:
CORPORATE SOCIAL RESPONSIBILITY | SUPPLY CHAINS | HUMAN TRAFFICKING | LEGISLATION
Investors Call for Passage of California Legislation Addressing Human Trafficking
Governor Schwarzenegger has until the end of September to sign SB 657, which requires companies operating in California to disclose policies addressing human trafficking in supply chains.
NEWS BRIEF:
CORPORATE SOCIAL RESPONSIBILITY | SUSTAINABILITY RANKINGS
CRD Analytics Publishes Ranking of Top 1,000 Sustainable Companies
Using financial and environmental, social, and corporate governance (ESG) key performance indicators, CRD ranks Merck as top sustainable company in 2010, up from fourth in 2008.
NEWS STORY:
ENVIRONMENTAL, SOCIAL, AND GOVERNANCE ISSUES | HYDRAULIC FRACTURING
Investors Support EPA Study on Hydraulic Fracturing
As record numbers of shareowners support resolutions addressing the risks of hydraulic fracturing, the EPA revisits the effects of the practice on water resources.
NEWS BRIEF:
CORPORATE SOCIAL RESPONSIBILITY | LABOR RELATIONS
European Companies Violate International Labor Standards in US Operations
A new report from Human Rights Watch finds that despite publicly stated commitments to international standards, European companies operating in the US often exploit weak US laws to discourage workers' freedom of association.
NEWS BRIEF:
EXECUTIVE COMPENSATION | PAY DISPARITY
CEOs at Firms with Most Layoffs Earn More than the S&P 500 Average
A report from the Institute for Policy Studies finds pay disparity greatest at companies that have laid off the most employees.
NEWS STORY:
CLIMATE CHANGE | CORPORATE SUSTAINABILITY REPORTS
Leading Companies are Not Waiting for Climate Change Legislation
A new report from the Carbon Disclosure Project details the risks and opportunities for business from climate change impacts, and highlights the innovations of leading companies.
NEWS BRIEF:
SUSTAINABILITY INDEXES
Dow Jones Sustainability Indexes Updated
For the 11th year, SAM Indexes provides analysis of corporate sustainability leadership for index that now contains 318 components.
NEWS STORY:
CORPORATE SOCIAL RESPONSIBILITY | INTEGRATED REPORTING
New Initiative Seeks to Mandate Integrated Reporting by Companies
Janet Ranganathan of the World Resources Institute speaks with SocialFunds.com about the International Integrated Reporting Committee's efforts to include sustainability issues in financial reports.
NEWS BRIEF:
INSTITUTIONAL INVESTORS | ENVIRONMENTAL, SOCIAL AND GOVERNANCE (esg) ISSUES
South Africa Proposes Code for Sustainable Investment by Institutional Investors
If adopted, South Africa will become only the second country to require attention to environmental, social, and corporate governance (ESG) by institutional investors.
NEWS STORY:
SHAREOWNER ACTIVISM | CORPORATE GOVERNANCE | FINANCIAL INSTITUTIONS
Eurosif Recommends Improvements in Corporate Governance
Invited by the European Commission to offer remedies for weaknesses in corporate governance, Eurosif responds with recommendations to increase transparency and strengthen shareowner rights.
NEWS BRIEF:
CORPORATE SOCIAL RESPONSIBILITY
Is There a Case to Be Made Against Corporate Social Responsibility?
The argument that corporate social responsibility impedes better corporate governance ignores the financial relevance of environmental, social, and corporate governance considerations.
NEWS BRIEF:
CLIMATE CHANGE | FINANCIAL INSTITUTIONS | MOUNTAIN TOP REMOVAL
Banks Back Away from Financing Mountain Top Removal
The environmentally destructive coal mining practice, for years a target of shareowner activists, faces new regulatory restrictions and limited financing from major banks.
NEWS STORY:
CLIMATE CHANGE | CLIMATE SCIENCE
Intergovernmental Panel on Climate Change Receives Recommendations for Improved Reporting
The InterAcademy Council recommends that IPCC improve review processes and transparency in wake of attacks on climate science.
NEWS BRIEF:
SHAREOWNER ACTIVISM | CORPORATE SOCIAL RESPONSIBILITY
Vedanta Denied Permission to Mine Sacred Mountain
India's Ministry of Environment and Forests denies permission to mining company for bauxite mine on Niyamgiri mountain in the Orissa region.
NEWS STORY:
SHAREOWNER ACTIVISM | PROXY ACCESS | REGULATIONS
SEC Adopts Rules for Proxy Access
Activist shareowners praise the rule that will allow them to nominate candidates for corporate boards of directors.
NEWS STORY:
SHAREOWNER ACTIVISM | CORPORATE POLITICAL SPENDING
Political Contributions by Target and Best Buy Lead to Shareowner Action
Companies' support for opponent of gay rights undermines their policies on diversity and threatens reputational risk in the form of consumer backlash.
NEWS BRIEF:
ECONOMIC CRISIS | FINANCIAL REFORM | TOO BIG TO FAIL
Failure of Financial Reform to Break Up Big Banks Leaves Economy at Risk
Former International Monetary Fund chief economist Simon Johnson claims that defeat of Brown-Kaufman amendment leaves financial system vulnerable.
NEWS STORY:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS | BANK FAILURES
ShoreBank Closed by Federal Regulators
The Chicago-based community banking pioneer is replaced by the Urban Partnership Bank, which plans to continue the mission of its predecessor.
NEWS BRIEF:
CLIMATE CHANGE | RENEWABLE ENERGY TECHNOLOGIES
Plan Seeks 100% Renewable Energy in Australia in Ten Years
Report from Beyond Zero Emissions asserts that Australia's energy needs can be fully met by renewable sources within ten years with technologies that are already available.
NEWS BRIEF:
CORPORATE POLITICAL SPENDING | CLIMATE CHANGE | OIL AND GAS INDUSTRY
Website Tracks Political Donations by Oil, Gas, and Coal Companies
Oil Change International unveils DirtyEnergyMoney.com to highlight correspondence between corporate political donations and Congressional voting patterns.
NEWS STORY:
CLIMATE CHANGE | CORPORATE REPORTING | TRANSPORT SECTOR
Transport Sector Lags in Addressing Climate Change
A report from the Carbon Disclosure Project finds that despite being a major contributor to greenhouse gas emissions, the transport sector lags in setting reduction targets and recognizing risks and opportunities.
NEWS STORY:
CORPORATE SOCIAL RESONSIBILITY | SUPPLY CHAIN MANAGEMENT | MIGRANT WORKERS
MacArthur Foundation Grant Helps Business for Social Responsibility Launch Second Stage of Migrant Workers Initiative
The Migration Linkages initiative, launched in 2008, will expand its focus on labor abuses of migrant workers in receiving countries such as Malaysia to include sending countries like Indonesia.
NEWS BRIEF:
COMMUNITY INVESTMENT | FIXED INCOME BONDS
New Fixed-Income Fund Will Help Finance Everglades Restoration
RSF Social Finance and Community Capital Management partner to develop fund that will provide funding for the Comprehensive Everglades Restoration Plan.
NEWS BRIEF:
SHAREOWNER ACTIVISM | CORPORATE GOVERNANCE | REGULATORY ACTIONS
Dell Shareowners Vote Down AFL-CIO Resolutions on Executive Pay and Chairman
Despite SEC allegations of improper disclosure of payments, shareowners vote with management on governance resolutions.
NEWS STORY:
ENVIRONMENTAL, SOCIAL, AND GOVERNANCE ISSUES | FORCED LABOR
Trade Unions Focus on Forced Labor as an Issue for Sustainable Investors
A briefing paper by the Global Unions Committee on Workers' Capital calls for increased attention to forced labor as a social issue, and advocates a multi-stakeholder approach to mitigation.
NEWS BRIEF:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
Wachovia Wells Fargo Next Award Finalists Announced
Two community development financial institutions (CDFIs) will share awards totaling $8.25 million in program-related investments and unrestricted grants.
NEWS STORY:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
New Program Seeks to Unlock $100 Million in Small Business Lending
A $10 million Bank of America grant program will provide loan loss reserves for Community Development Financial Institutions in order to access $100 million in small business lending.
NEWS BRIEF:
CLIMATE CHANGE | REGULATORY ACTIONS
EPA Rejects Challenges to Climate Science
The Agency disallows ten petitions challenging its 2009 endangerment finding on greenhouse gas emissions, stating that "climate science is credible, compelling, and growing stronger."
NEWS BRIEF:
CLIMATE CHANGE | OIL SANDS DEVELOPMENT
Oil Sands Extraction in Alberta Prevents Canada From Meeting Copenhagen Commitment
The Pembina Institute publishes a briefing paper describing the environmental costs of oil sands extraction in the province.
NEWS STORY:
CORPORATE SOCIAL RESPONSIBILITY | CORPORATE REPORTING | OIL AND GAS INDUSTRY
Investment in Deepwater Drilling Requires Robust Disclosure by Oil Companies
In letters to oil and gas and insurance companies, a coalition of investors led by Ceres asks for improved risk management and disclosure in aftermath of BP disaster.
NEWS STORY:
CORPORATE REPORTING | BOARD DIVERSITY
Corporate Disclosures Ignore Financial Benefits of Board Diversity
A new report from The Corporate Library finds that corporate compliance with disclosure requirements on diversity has been vague, while studies indicate a financial benefit.
NEWS STORY:
SUSTAINABLE INVESTMENT | AFRICA
AfricaSIF Aims to Encourage Sustainable Investment Practices in Africa
SocialFunds.com speaks with Graham Sinclair, co-founder of AfricaSIF, about the state of sustainable investment in Africa and the mission of the organization.
NEWS BRIEF:
CORPORATE SOCIAL RESPONSIBILITY | INTEGRATED REPORTING
Global Reporting Initiative and Others Form International Integrated Reporting Committee
The goal of the new initiative is to bring about an integration of ESG and financial reporting, to meet the information needs of long-term investors.
NEWS BRIEF:
CORPORATE SOCIAL RESPONSIBILITY | HUMAN TRAFFICKING | CHILD SEX TOURISM
CBIS Reports Results of Initiative Addressing Child Sex Tourism During World Cup
Of the eight major hotel chains contacted, only Accor and Carlson distinguish themselves with polices and training of employees on the issue.
NEWS STORY:
CORPORATE SOCIAL REPSONSIBILITY | INDIGENOUS PEOPLES
Investors Urge US to Support Rights of Indigenous Peoples
Calvert and the Indigenous Peoples Working Group of the Social Investment Forum encourage the US State Department in its reconsideration of the 2007 vote against the UN Declaration on the Rights of Indigenous Peoples.
NEWS STORY:
SHAREOWNER ACTIVISM | CORPORATE SOCIAL REPSONSIBILITY
EIRIS Report Details Human Rights Abuses and Other Allegations Against Vedanta Resources Operations in India
The UK-based investment research firm seeks to raise investor awareness of Vedanta's mining operations in India, and pressure the company to engage with investors more constructively.
NEWS BRIEF:
DEVELOPING NATIONS | SUSTAINABILITY | CORPORATE SOCIAL RESPONSIBILITY
Report Examines Role of Business in a Sustainable Economy
The World Business Council for Sustainable Development identifies alarming levels of growth in urbanization and consumption, and describes crucial role of business in transition to sustainability.
NEWS BRIEF:
SHAREOWNER ACTIVISM | CLIMATE CHANGE | LEGISLATION
Investors Lead Way on Climate Change As Senate Fails to Act
The US Senate abandons effort to pass meaningful legislation in a year when climate change-related shareowner resolutions attract widespread support.
NEWS BRIEF:
ELECTRONICS INDUSTRY | SUPPLY CHAINS | HUMAN RIGHTS
Investors Address Human Rights in Electronics Supply Chains
In the aftermath of suicides at the Foxconn manufacturing plant in China, an investor coalition asks for improved conditions for workers.
NEWS BRIEF:
ENVIRONMENTAL, SOCIAL, AND GOVERNANCE RESEARCH | CORPORATE GOVERNANCE | MERGERS AND ACQUISITIONS
The Corporate Library and GovernanceMetrics International Announce Merger
The combination of corporate governance research firms is the most recent of many mergers and acquisitions in the environmental, social, and governance research sector.
NEWS STORY:
SHAREOWNER ACTIVISM | CORPORATE GOVERNANCE
Will 2011 Be a Watershed Year for Corporate Governance?
SocialFunds.com talks with James McRitchie of Corpgov.net about corporate governance and the 2010 proxy season. Third of a three-part series.
NEWS BRIEF:
EXECUTIVE COMPENSATION | PROXY VOTING | MUTUAL FUNDS
Mutual Funds Continue to Support Management on Executive Compensation
A new report finds that although withholding votes from directors over compensation issues has increased, support by mutual funds for management proposals on compensation issues was 84% in 2008.
NEWS STORY:
CORPORATE REPORTING | EXTRACTIVE INDUSTRIES | LEGISLATION
Extractive Industries Will Be Required to Disclose Payments to Governments
A provision in the financial reform bill requires energy and mining companies to report payments they make in return for oil, gas, and minerals.
NEWS BRIEF:
SHAREOWNER ACTIVISM | PROXY ACCESS | REGULATIONS
SEC Seeks to Overhaul Proxy Infrastructure for the First Time in 30 Years
A concept release published by the Agency seeks public comment in order to increase the transparency and integrity of the proxy system.
NEWS BRIEF:
ECONOMIC CRISIS | FINANCIAL REFORM | LEGISLATION
Passage of Financial Reform Bill Applauded by Sustainability Investors
Bill as passed by Senate includes provision for proxy access but not a majority voting standard.
NEWS STORY:
FIXED-INCOME INVESTING | COMMUNITY INVESTMENT | AFFORDABLE HOUSING
Bond Program Will Help Affordable Housing in New York City
Through its CRA Qualified Investment Fund, Community Capital Management will finance the acquisition and development of 5,600 affordable units.
NEWS STORY:
CORPORATE REPORTING | ENVIRONMENTAL ISSUES
Large US Companies Continue to Lag in Reporting on Environmental Issues
IW Financial and Soyka & Company follow last year's The Road Not Yet Taken with a new study that finds many S&P1000 companies insufficiently transparent regarding environmental policies.
NEWS BRIEF:
CORPORATE SUPPLY CHAINS | HUMAN TRAFFICKING | CHILD LABOR
Human Rights Abuses Found in Kazakhstan Suppliers of Tobacco to Philip Morris
A report by Human Rights Watch finds abuses of migrant workers and the frequent use of child labor in the company's supply chain in Kazakhstan.
NEWS STORY:
FINANCIAL REFORM | SUSTAINABLE MUTUAL FUNDS
Appleseed Fund Announces Investment Policy That Excludes Too-Big-To-Fail Banks
Although the policy does not change an investment strategy that excludes big banks that represent a systemic risk, Appleseed is the first mutual fund to explicitly exclude them.
NEWS BRIEF:
CLIMATE CHANGE | CORPORATE EMISSIONS REPORTING
Carbon Disclosure Project and Global Reporting Initiative to Coordinate Reporting Guidelines
To standardize the two most widely used mechanisms for corporate emissions reporting, the organizations publish a linkage document comparing indicators and questions.
NEWS BRIEF:
HUMAN RIGHTS | FREEDOM OF EXPRESSION | INTERNET | CHINA
China Renews Google's License to Operate
Free speech issue is sidestepped as the company will continue to direct its Chinese users to its Hong Kong-based search engine.
NEWS BRIEF:
CORPORATE SOCIAL RESPONSIBILITY | CORPORATE REPORTING
UN Global Compact and the Global Reporting Initiative Join to Promote Corporate Sustainability
The Global Compact will adopt the GRI's Sustainability Reporting Guidelines as its recommended reporting framework, while the GRI will integrate the Global Compact's Ten Principles into its Guidelines.
NEWS STORY:
HUMAN TRAFFICKING | CORPORATE SUPPLY CHAINS
Verite Publishes Report on Role of Brokers in Forced Labor
The report coincides with the organization's launch of the Well Made initiative, which aims to engage stakeholders in finding solutions to the problem.
NEWS BRIEF:
CLIMATE CHANGE | GREENHOUSE GAS EMISSIONS | CORPORATE REPORTING
New EPA Reporting Rules Aim to Track Methane Emissions
Agency's emissions reporting requirements are extended to include underground coal mines, industrial wastewater treatment systems, industrial waste landfills, and magnesium production facilities.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | LAWS AND REGULATIONS | UNITED KINGDOM
Landmark Sustainable Investment Law for UK-Based Pension Funds Is Ten Years Old
The UK Sustainable Investment and Finance (UKSIF) marks the anniversary of ground-breaking regulation with a review of a decade's worth of accomplishments.
NEWS STORY:
SUSTAINABLE INVESTMENT | AFRICA
As African Economy Grows, Sustainability Advocates Look to Leapfrog Investment as Usual
A McKinsey report finds that economic growth is on the upswing in Africa, and AfricaSIF is launched to encourage sustainable investment on the continent.
NEWS STORY:
SHAREOWNER ACTIVISM | ENVIRONMENTAL, SOCIAL, AND GOVERNANCE ISSUES
Higher Shareowner Votes Are Encouraging, But Not Enough to Change the System
SocialFunds.com speaks with Laura Berry of the Interfaith Center on Corporate Responsibility (ICCR) about the impact of higher shareowner votes this proxy season. Second of a three-part series.
NEWS BRIEF:
SUSTAINABLE INDEXES
FTSE Launches FTSE CDP Carbon Strategy Index Series
Developed by FTSE’s Responsible Investment Unit and the Carbon Disclosure Project (CDP), the indexes will support investors who incorporate climate change into investment strategies.
NEWS BRIEF:
SHAREOWNER ACTIVISM | PROXY ACCESS | LEGISLATION
Proxy Access Survives Conference Committee
In response to widespread objections that a proposal to increase ownership thresholds would effectively "gut proxy access," House and Senate conferees retain provision that gives the SEC authority to set thresholds.
NEWS STORY:
SHAREOWNER ACTIVISM | ENVIRONMENTAL, SOCIAL, AND GOVERNANCE ISSUES
Environmental Shareowner Resolutions Gain Record Levels of Support in 2010 Proxy Season
SocialFunds.com speaks with Michael Passoff of As You Sow about shareowner concerns over hydraulic fracturing, coal ash waste, and other environmental issues. First of a three-part series.
NEWS BRIEF:
CLIMATE CHANGE | CARBON MARKETS
Voluntary Carbon Markets Experience Steep Decline in 2009
Report by the Ecosystem Marketplace and Bloomberg New Energy Finance attributes decline in volume to financial crisis and regulatory uncertainty.
NEWS STORY:
CORPORATE SOCIAL RESPONSIBILITY | PHARMACEUTICAL INDUSTRY | DEVELOPING NATIONS
Access to Medicine Foundation Publishes 2010 Access to Medicine Index
The new index improves upon the 2008 version by including more pharmaceutical companies and by shifting focus from policy to practice.
NEWS BRIEF:
CORPORATE SOCIAL RESPONSIBILITY | GENDER EQUALITY
Global CEOs Express Support for Empowerment Principles for Women
The United Nations Development Fund for Women and the UN Global Compact announce that 38 corporate CEOs have signed a Statement of Support for Women's Empowerment Principles.
NEWS BRIEF:
SHAREOWNER ACTIVISM | CORPORATE POLITICAL SPENDING | LEGISLATION
Conference Committee Poised to Abandon Proposed Corporate Governance Reforms
Institutional investors object to proposal to raise minimum voting threshold for proxy access to five percent, claiming it would make the provision unusable.
NEWS STORY:
SHAREOWNER ACTIVISM | CORPORATE POLITICAL SPENDING | LEGISLATION
Fate of Legislation to Curb Political Spending Is in Question
Intended to redress the consequences of the Supreme Court ruling on Citizens United, the DISCLOSE Act faces opposition by corporate lobbyists, even as shareowner resolutions for disclosure of political spending gain record levels of support.
NEWS BRIEF:
CLIMATE CHANGE | EMISSIONS REDUCTIONS | INFORMATION AND COMMUNICATIONS TECHNOLOGIES
Telepresence Reduces Emissions While Providing Financial Benefits
A study by the Carbon Disclosure Project finds that travel substitution through video communications technology could reduce global greenhouse gas emissions by 15% by 2020, while saving $19 billion.
NEWS STORY:
SHAREOWNER ACTIVISM | CORPORATE GOVERNANCE | LEGISLATION
Sustainability Investors Make Their Voices Heard on Financial Reform Legislation
As a Congressional conference committee determines the final version of legislation, the Social Investment Forum and government pension funds speak out on corporate governance and other issues.
NEWS BRIEF:
ENVIRONMENTAL, SOCIAL, AND GOVERNANCE (ESG) | PRIVATE EQUITY
KKR Works With Portfolio Companies to Improve Environmental Performance
Partnering with the Environmental Defense Fund, the private equity firm helps portfolio companies save $160 million in operating costs and eliminate 345,000 tons of CO2 emissions.
NEWS BRIEF:
CLIMATE CHANGE | LEGISLATION
Resolution Denying EPA Authority to Regulate Emissions is Defeated by Senate
By a vote of 53-47, Senate defeats disapproval resolution introduced by Republican Senator Lisa Murkowski of Alaska, paving the way for a vote on the Kerry-Lieberman American Power Act.
NEWS STORY:
CORPORATE SUSTAINABILITY REPORTING
Second Carrots and Sticks Report Surveys Current Status of Sustainability Reporting
The Global Reporting Initiative collaborates with the United Nations Environment Programme and KPMG to provide recommendations for improved reporting on a global scale.
NEWS STORY:
CORPORATE GOVERNANCE
Attention to Corporate Governance Can Improve Investment Returns
A new study by The Corporate Library constructs a hypothetical portfolio based on its corporate governance rankings, which significantly outperforms a Russell 1000 benchmark.
NEWS BRIEF:
CLIMATE CHANGE | SUSTAINABILTY INVESTORS
Institutional Investors Group on Climate Change Publishes Third Annual Investor Statement on Climate Change
The European-based forum for collaboration on climate change reports increased attention to climate change by investors, but find that few integrate climate change into Investment Manager Agreements.
NEWS BRIEF:
CORPORATE SUSTAINABILITY REPORTING
GRI Plans Incremental Updates to Sustainability Reporting Framework
The world’s most widely used corporate reporting framework invites public comment on updates in areas of community, human rights, and gender.
NEWS BRIEF:
SUSTAINABILITY INDEXES|CORPORATE REPORTING
BP Among Companies Removed from Global Sustainability Index
The NASDAQ OMX CRD Global Sustainability 50 Index announces semi-annual ranking of companies taking leadership roles in sustainability performance reporting.
NEWS STORY:
SUSTAINABLE COMPANIES | ENVIRONMENTAL, SOCIAL AND GOVERNANCE ISSUES
Sustainability Investors Reconsider BP Holdings in Wake of Gulf Disaster
With BP’s reputation as a leading sustainable company destroyed, investors weigh alternatives of divestment or increased engagement.
NEWS STORY:
ELECTRONICS INDUSTRY | SUPPLY CHAINS
Foxconn Suicides Lead to Scrutiny of Supply Chain Management
Contract manufacturer for such electronics companies as Apple and HP faces questions about its labor practices in the aftermath of suicides by workers.
NEWS BRIEF:
CLEAN ENERGY | EMERGING MARKETS
Clean Energy Investment in Emerging Markets Is Growing
A study by the Carbon Disclosure Project (CDP) finds that clean energy investment in Brazil, China, India, and South Africa is large, and is expected to grow as regulation evolves.
NEWS BRIEF:
CORPORATE GOVERNANCE | BOARDS OF DIRECTORS
UK-Based Financial Reporting Council Recommends End to Staggered Corporate Boards
The organization’s updated UK Corporate Governance Code asserts that board accountability would be improved by annual elections of directors.
NEWS STORY:
SHAREOWNER ACTIVISM | PROXY ADVISORY SERVICES
Proxy Advisory Services Come Under Increased Scrutiny
Pointing to the considerable proxy voting power and little oversight of companies such as RiskMetrics, critics call for increased regulation to avoid conflicts of interest.
NEWS STORY:
SUSTAINABLE DEVELOPMENT
Fortress World or Great Transition?
A report by the Tellus Institute explores four scenarios in response to sustainability demands, and calls for a profound restructuring of global economic priorities.
NEWS STORY:
FINANCIAL REFORM | CORPORATE GOVERNANCE | LEGISLATION
Investors and Shareowners Applaud Senate Passage of Financial Reform Bill
Corporate governance provisions would improve accountability by management, while consumer protection provisions will help stabilize small businesses.
NEWS BRIEF:
CLIAMTE CHANGE | CORPORATIONS
Corporations Want Climate Change Legislation but Are Not Waiting to Act
Survey by Ernst & Young of executives of 300 global corporations indicates that they are implementing climate change mitigation strategies while calling for effective legislation.
NEWS BRIEF:
CLIMATE CHANGE | RENEWABLE ENERGY | SOLAR POWER
CalSTRS Invests in Solar Thermal Power Plants
The investment by the $139 billion pension fund will help BrightSource build 14 solar power plants in the US southwest by 2016
NEWS BRIEF:
CLIMATE CHANGE | LEGISLATION
Six Thousand US Companies Support Climate Change Legislation
An analysis by American Businesses for Clean Energy finds that supporters of climate legislation include many companies in the Fortune 100 and Fortune 500.
NEWS STORY:
SUSTAINABILITY INVESTING | EXCHANGE TRADED FUNDS
Pax World Launches Family of Sustainable Exchange Traded Funds
The exchange traded funds (ETFs) track the performances of indexes whose constituents are determined by KLD sustainability rankings.
NEWS STORY:
FINANCIAL CRISIS | COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
ShoreBank Scrambles to Raise Enough Cash to Avoid FDIC Seizure
The pioneering community lender, whose practice of providing loans in distressed neighborhoods led to high default rates in the aftermath of the recession, is described as a victim of the financial crisis.
NEWS BRIEF:
CORPORATE REPORTING | ENVIRONMENTAL, SOCIAL AND GOVERNANCE | KEY PERFORMANCE INDICATORS
Draft of Key Performance Indicators for Corporate Reporting Is Published in Europe
The EFFAS Commission on ESG Environmental, Social & Governance expands upon previous recommendations by adding key performance indicators (KPIs) for 114 industry subsectors.
NEWS BRIEF:
FINANCIAL CRISIS | CREDIT RATING AGENCIES | LEGISLATION
Credit Rating Agencies Face New Legislative Strictures
Widely criticized for assigning inflated ratings to mortgage-backed securities, rating agencies will be assigned ratings by an independent agency.
NEWS STORY:
CORPORATE SOCIAL RESPONSIBILITY | TOURIST INDUSTRY | HUMAN TRAFFICKING
Investors Ask Hotel Chains to Help Combat Sex Tourism During 2010 World Cup in South Africa
A letter from Christian Brothers Investment Services to hotels, asking them to help prevent the sexual exploitation of children and other human trafficking crimes, gains 300 signatories and the support of the Business & Human Rights Resource Centre.
NEWS BRIEF:
SHAREOWNER ACTIVISM | CORPORATE BOARDS OF DIRECTORS
Pension Funds Join New York State Comptroller’s Call to Withhold Votes in Favor of Board Directors at Massey
Following the Upper Big Branch mining tragedy, the funds assert that the directors have failed to oversee risk and protect investments.
NEWS BRIEF:
CLIMATE CHANGE | GREENHOUSE GAS EMISSIONS
Energy Information Administration Reports Steep Decline in US Emissions in 2009
Drop in energy consumption, mostly due to economic downturn, is led by energy-intensive sectors, but emissions will increase again if those sectors lead economic recovery.
NEWS STORY:
SHAREOWNER ACTIVISM | ENVIRONMENTAL ISSUES | HYDRAULIC FRACTURING
Environmental Resolutions Continue to Gain Strong Shareowner Support
Resolutions requesting better disclosure of hydraulic fracturing win substantial support at two oil and gas companies.
NEWS STORY:
SHAREOWNER ACTIVISM | CORPORATE GOVERNANCE
Goldman Sachs Annual Meeting a Success for Shareowner Advocacy
Several resolutions introduced by members of the Interfaith Center on Corporate Responsibility win significant shareowner support, and a resolution on say-on-pay is withdrawn.
NEWS STORY:
COMMUNITY INVESTING | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
Citigroup Launches Fund to Loan $200 Million to Small Businesses in Low-Income Communities
The bank partners with Calvert Foundation and Opportunity Finance Network to provide Community Development Financial Institution Loan Funds with capital to lend to small businesses.
NEWS BRIEF:
CAP AND TRADE | ACQUISITIONS AND MERGERS
IntercontinentalExchange Acquires Climate Exchange
The acquisition anticipates substantial growth in the global carbon market if the US adopts a mandatory cap-and-trade program.
NEWS BRIEF:
SUBPRIME MORTGAGES | CHARGES AND COMPLAINTS
Pension Funds Sue Goldman Sachs Over Abacus
Three pension funds allege breaches of fiduciary duties by Goldman Sachs, and a law firm files a class action lawsuit on behalf of investors.
NEWS STORY:
SUSTAINABILITY | FINANCIAL INDUSTRIES
Despite More Widespread Adoption of Investment Policies, Banks Have Yet to Transition to Sustainable Practice
Report by BankTrack, the third in a series, finds that while that more banks have publicly available policies, most of the policies are inadequate.
NEWS BRIEF:
CLIMATE CHANGE | INFORMATION TECHNOLOGY
Greenpeace Ranks Cisco First Among IT Companies Addressing Climate Change
The third version of the organization’s Cool IT Leaderboard ranks leading IT companies according to economy-wide solutions, emissions reductions in their own operations, and advocacy.
NEWS BRIEF:
FINANCIAL CRISIS | SHAREOWNER ACTIVISM | DERIVATIVES
First-Time Resolution on Derivatives Wins 39% of Shareowner Vote at Bank of America
Strong support for resolution follows a 30% vote in favor at Citigroup; votes at Goldman Sachs and JP Morgan Chase are next.
NEWS STORY:
EXECUTIVE COMPENSATION
CEO Pay Declines for Second Year in a Row
A preliminary report by The Corporate Library finds that compensation for CEOs of the largest companies has declined the most, largely due to the poor stock market.
NEWS BRIEF:
SHAREOWNER ACTIVISM | ENVIRONMENTAL ISSUES
First-Time Environmental Resolutions Win Strong Shareowner Support
Resolutions addressing Bisphenol-A at Coca-Cola and coal ash at MDU Resources each gain more than 20% of shareowners’ votes.
NEWS STORY:
CLIMATE CHANGE | CORPORATE REPORTING
Emissions of Largest US Companies Are on the Rise
A Carbon Disclosure Project assessment of companies in the S&P 100 finds that the current emissions trajectory will produce a 3.66% absolute increase by 2020.
NEWS BRIEF:
FINANCIAL CRISIS | CREDIT RATING AGENCIES | SUBPOENAS
Credit Rating Agency Hit With Subpoena for Failing to Comply With Investigation
The Financial Crisis Inquiry Commission issues subpoena to Moody’s Investors Service after the credit rating agency failed to respond to its request for documents.
NEWS STORY:
SHAREOWNER ACTIVISM | FINANCIAL CRISIS | DERIVATIVES
Resolution on Derivatives Wins Strong Support at CitiGroup Shareowner Meeting
Submitted by members of the Interfaith Center on Corporate Responsibility, the resolution, which requests a report on CitiGroup’s derivatives policy, wins 30% of vote.
NEWS STORY:
CLIMATE CHANGE | WATER SCARCITY
Three Reports Detail Investment Risks in South and Southeast Asia
The World Resources Institute examines the potential impact of water scarcity on investment in the food and beverage, power generation, and real estate sectors in the region.
NEWS BRIEF:
SHAREOWNER ACTIVISM | PROXY VOTING
Proxy Voting Guide Aims to Help Shareowners Evaluate Labor Standards
The Corporate Library publishes guide to help shareowners decide how to vote on proposals addressing the relationship between labor standards and investment risk.
NEWS BRIEF:
SUBPRIME MORTGAGES | CHARGES AND COMPLAINTS
SEC Charges Goldman Sachs With Fraud
Commission alleges that investment banker and one of its vice presidents defrauded investors with financial product based on subprime mortgages.
NEWS STORY:
SHAREOWNER ACTIVISM | INTERNET SERVICE PROVIDERS | NET NEUTRALITY
SEC Decision to Disallow Proposals on Net Neutrality Perplexes Shareowners
The proposals would prohibit Internet service providers from exercising preferential treatment and unfair competitive advantage, but are disallowed on the grounds of ordinary business.
NEWS BRIEF:
SUSTAINABILITY INDEXES
SAM to Update Dow Jones Sustainability Indexes
The investment group invites the world's largest companies to participate in its Corporate Sustainability Assessment, to determine inclusion in the group of Sustainability Indexes.
NEWS BRIEF:
SHAREOWNER ACTIVISM | CLIMATE CHANGE | OIL SANDS
Shareowner Resolutions Target Four Companies on Oil Sands Development in Canada
International effort by shareowner activists ask BP, Shell, ConocoPhillips, and ExxonMobil to report on a multitude of risks relating to the environmentally damaging practice.
NEWS STORY:
SHAREOWNER ACTIVISM | PROXY VOTING
As You Sow Publishes 2010 Proxy Season Preview
The sixth in an annual series of publications, the 2010 Preview highlights the successes of 2009 while identifying the major issues for shareowner advocates this year.
NEWS BRIEF:
CLIMATE CHANGE | WATER SCARCITY | CORPORATE REPORTING
CDP Water Disclosure Sends First-Ever Request for Information on Water Use to More Than 300 Companies
The initiative, which aims to inform investors of risks and opportunities relating to corporate water usage, has been signed by 137 financial institutions with a combined $16 trillion in assets.
NEWS BRIEF:
SHAREOWNER ACTIVISM | ENVIRONMENTAL ISSUES | HYDRAULIC FRACTURING
Shareowner Activists Applaud EPA Study of Hydraulic Fracturing
The impacts on drinking water resources of the controversial method of natural gas extraction, which is the subject of shareowner resolutions with 12 companies this proxy season, will be the focus of an EPA study.
NEWS STORY:
SHAREOWNER ACTIVISM | INTERNET SERVICE PROVIDERS
Decisions by Court of Appeals and the SEC Block Assurance of Net Neutrality
Court rules that the FCC lacks authority to regulate interference by Internet companies of usage by its subscribers, and the SEC disallows a number of shareowner proposals addressing net neutrality on the grounds of ordinary business. Second of a two-part series.
NEWS BRIEF:
CLIMATE CHANGE | CORPORATE SUSTAINABILITY REPORTING
Measure, Manage, Report: How Companies Can Prepare for a Low-Carbon Economy
The Environmental Defense Fund publishes a roadmap to help companies navigate the transition to greenhouse gas reductions and meaningful sustainability reporting.
NEWS STORY:
SHAREOWNER ACTIVISM | INTERNET PRIVACY
Shareowners Push Internet Companies to Protect Online Privacy
Resolution submitted by As You Sow requests from Google a policy on behavioral advertising based on tracking of online searches by consumers. First of a two-part series.
NEWS BRIEF:
SHAREOWNER ACTIVISM | CORPORATE SUSTAINABILITY
Intel Agrees to Board-Level Consideration of Sustainability
The company engages with Harrington Investments following the submission of a shareowner resolution, and directs its legal counsel to issue an opinion that sustainability performance and reporting are the fiduciary duty of corporate Boards.
NEWS STORY:
CLIMATE CHANGE | ASSET ALLOCATION
Study to Evaluate Climate Change Impact Across Asset Classes
Mercer joins with institutional asset owners and investors to launch a study exploring the impact of climate change on asset allocation.
NEWS STORY:
BRIBERY AND CORRUPTION | SHAREOWNER ACTIVISM
Companies Not Doing Enough to Limit Exposure to Bribery
A new report from EIRIS finds that the vast majority of companies in the FTSE All World Developed Index lack adequate anti-bribery policies, and almost none provide effective reporting on the issue.
NEWS BRIEF:
FINANCIAL CRISIS | CORPORATE ACCOUNTING
SEC Widens Inquiry into Pre-Crash Accounting by Financial Firms
As criminal charges against Lehman Brothers are contemplated, the SEC Division of Corporation Finance requests accounting information from other companies.
NEWS STORY:
SHAREOWNER RESOLUTIONS | CLIMATE CHANGE | CORPORATE GOVERNANCE
Shareowners Find Support in Congress and the SEC for Resolutions Filed in 2010
Resolutions addressing climate change and corporate governance dominate the 2010 proxy season, as proposed legislation and regulatory mandates increase attention to the issues.
NEWS BRIEF:
CLIMATE CHANGE | INSTITUTIONAL INVESTORS
Guide on Climate Change for Private Equity Investors Is Published
The Institutional Investors Group on Climate Change advises pension fund trustees to hold their private equity fund managers accountable for engaging with portfolio companies on climate change.
NEWS BRIEF:
ECONOMIC CRISIS | FINANCIAL REFORM | LEGISLATION
Treasury Official Criticizes Chamber for Opposing Financial Reform
Deputy Treasury Secretary Neal Wolin says the Chamber's $3 million lobbying campaign is designed to defeat financial reform legislation.
NEWS BRIEF:
CLIMATE CHANGE | GREENHOUSE GAS EMISSIONS | REGULATION
Fifteen States Sue the EPA on Greenhouse Gas Endangerment Findings
The lawsuit recycles recent misrepresentations of the validity of climate science in seeking to prevent or delay regulatory action on emissions reduction.
NEWS STORY:
ENVIRONMENTAL, SOCIAL, AND GOVERNANCE | CORPORATE SUSTAINABILITY REPORTING
Calls for Improved Corporate ESG Reporting Span Globe
Eurosif states that ESG reporting by European companies should be mandatory, and the Social Investment Forum's Emerging Markets Disclosure Project encourages companies in emerging markets to issue sustainability reports.
NEWS BRIEF:
GENDER DIVERSITY | CORPORATE REPORTING
Women Are Still Underrepresented on Corporate Boards
White paper from The Corporate Library finds that board-level gender diversity is lacking, especially among smaller companies, and suggests that new SEC rules on disclosure may help improve diversity.
INTERVIEW:
CLIMATE CHANGE | LEGISLATION
A Corporate CEO Speaks Out on Climate Change
Gary Hirshberg, CEO of Stonyfield Farm, talks with SocialFunds.com about the business case for climate change legislation and the competitive danger of not acting quickly enough. Second of a two-part series.
NEWS STORY:
CLIMATE CHANGE | LEGISLATION
Companies Voice Their Support for Effective Climate Change Legislation
Asserting that the US has already fallen behind other countries in the development of renewable energy technologies, the We Can Lead lobbying campaign brings businesses to Washington DC to call for legislation that includes a price on carbon. First of a two-part series.
NEWS STORY:
SUSTAINABILITY | CORPORATIONS
Companies That Aggressively Pursue Sustainability Are Reaping Benefits
A report from the MIT Sloan Management Review and the Boston Consulting Group finds that while the majority of companies view sustainability as a response to external pressures, some are finding profitability in its practice.
NEWS BRIEF:
CLIMATE CHANGE | CAP-AND-TRADE
Seventh Auction of Carbon Allowances by the Regional Greenhouse Gas Initiative Yields $88 Million for Clean Energy Investment
As doubts about passage of federal cap-and-trade legislation grow, total proceeds from Regional Greenhouse Gas Initiative auctions increase to more than $582 million.
NEWS BRIEF:
SHAREOWNER RIGHTS | CORPORATE GOVERNANCE | LEGISLATION
Draft Financial Reform Bill Includes Provisions for Shareowner Rights
Proposed bill will strengthen corporate governance by providing shareowners with proxy access and annual votes on executive compensation.
NEWS STORY:
SHAREOWNER ACTIVISM | CLIMATE CHANGE | OIL SANDS
Shareowner Activists Request Better Disclosure of Strategic Risks by Oil Sands Developers
Investor group led by Boston Common Asset Management in the US and FairPensions in the UK joins forces to engage with BP and Shell on disclosure of strategic risk mitigation in Canadian oil sands developments.
NEWS BRIEF:
ECONOMIC CRISIS | CREDIT RATING AGENCIES | LAWSUITS
Connecticut AG Sues Rating Agencies for Their Role in Financial Meltdown
Lawsuit charges that Moody's and Standard & Poor's knowingly assigned inflated ratings to investments backed by sub-prime loans in order to earn lucrative fees.
NEWS STORY:
CLIMATE CHANGE MITIGATION
Lack of Government Policy, Not Technology, Is Barrier to Climate Change Mitigation
A climate scientist and a business leader join forces to assert the validity of climate science, and recommend the adoption of a market-based cap-and-trade program.
NEWS STORY:
SHAREOWNER ACTIVISM | EXECUTIVE COMPENSATION
More Than 60 Companies Voluntarily Adopt Annual Shareowner Votes on Executive Compensation
Companies adopting say-on-pay include many in the financial industries, and all TARP recipients mandated to do so last year; in the absence of legislation or regulations, activist shareowners file more than 70 resolutions on the issue this year.
NEWS BRIEF:
SHAREOWNER ACTIVISM | HUMAN RIGHTS | SUPPLY CHAIN MANAGEMENT
Forced Child Labor Remains Widespread in Cotton Fields of Uzbekistan
A report from the Environmental Justice Foundation finds that up to two million children are forced into working in Uzbekistan’s cotton fields, and recommends that apparel retailers improve monitoring of their supply chains to ensure that forced labor is not a part of them.
NEWS STORY:
SHAREOWNER ACTIVISM | CLIMATE CHANGE
Investors File Record Number of Shareowner Resolutions on Climate Change
Organizations that have filed resolutions addressing oil sands operations, quantitative greenhouse gas emissions reduction targets, and coal ash waste disposal, express strong support for SEC guidance on climate change disclosure.
NEWS BRIEF:
CLIMATE CHANGE | ENERGY EFFICIENCY | ELECTRONIC WASTE
UNEP Report Describes Urgent Need to Address E-Waste
With growth of e-waste in developing countries expected to multiply by 2020, the report identifies technologies that can increase recycling rates and generate jobs in a low-carbon economy.
NEWS BRIEF:
CORPORATE SUSTAINABILITY | INFORMATION AND COMMUNICATION TECHNOLOGY
Vodafone Tops List of Sustainable ICT Companies
Ranking of the largest global information and communication technology companies finds strengths in product innovation and supply chain engagement, but room for improvement in emissions reduction and stakeholder engagement.
NEWS STORY:
SHAREOWNER ACTIVISM | CORPORATE GOVERNANCE | POLITICAL SPENDING
Social Investors Brainstorm Responses to Citizens United
Possible actions in response to the Supreme Court decision include voluntary disclosure of corporate political spending, regulatory action by the SEC, and Congressional legislation.
NEWS BRIEF:
ENVIRONMENTAL, SOCIAL, AND GOVERNANCE INVESTMENT RESEARCH | ACQUISITIONS AND MERGERS
MSCI Will Acquire RiskMetrics
Implications are uncertain for the ESG investment research industry, whose consolidation has been driven in large part by acquisitions by RiskMetrics.
NEWS BRIEF:
SHAREOWNER ACTIVISM | CORPORATE GOVERNANCE | POLITICAL SPENDING
Shareowner Activists Galvanized by Citizens United Decision
Financial and reputational risks associated with corporate political spending lead to successful shareowner engagement and request that S&P 500 companies agree to disclose political donations.
NEWS BRIEF:
PRINCIPLES FOR RESPONSIBLE INVESTMENT | INSTITUTIONAL INVESTORS
PRI Commits Investors to Consideration of Environmental, Social, and Governance Issues
A white paper published by the Corporate Library explores the impact and potential of the Principles for Responsible Investment in North America.
NEWS STORY:
COMMUNITY INVESTING | PEER-TO-PEER LENDING
People Capital Launches Peer Lending Platform for Qualified Education Loans
Following an SEC clarification of peer lending products as securities, People Capital hopes that social investors will use its lending platform to execute their missions.
NEWS STORY:
CORPORATE REPORTING | ENVIRONMENTAL, SOCIAL, AND GOVERNANCE
Study Finds No Correlation Between Consumer Perception of Corporate Environmental Performance and Verifiable Data
A study by New Scientist magazine employs data from ESG research provider Trucost, and finds that companies perceived by consumers as green often lag in environmental disclosure.
NEWS BRIEF:
CORPORATE REPORTING | ENVIRONMENTAL, SOCIAL, AND GOVERNANCE | WATER SCARCITY
Companies Exposed to Water Risks Are Providing Investors With Too Little Data
Report from Ceres, UBS, and Bloomberg Professional finds that reporting on water risks by companies in water-intensive industry sectors is insufficient.
NEWS STORY:
CORPORATE SUSTAINABILITY REPORTING
Investors Call on 86 Global Compact Signatories to Produce Annual Communication on Progress
A coalition of investor signatories to the Principles for Responsible Investment identify 86 large, publicly traded companies as laggard in producing annual Communications on Progress as required by the Global Compact, and urge them to do so or risk delisting.
NEWS BRIEF:
SHAREOWNER ACTIVISM | CRIMES AGAINST HUMANITY | GENOCIDE
American Funds Sells PetroChina Holdings
The mutual fund family responds to the use of oil revenues to fund genocide in Darfur, following shareowner pressure led by Investors Against Genocide.
NEWS BRIEF:
CLIMATE CHANGE | CORPORATE SOCIAL RESPONSIBILITY
US Chamber of Commerce Issues Court Challenge to EPA’s Endangerment Finding on Greenhouse Gases
In response to the EPA finding that greenhouse gas emissions threaten the public health and welfare of the American people, the Chamber challenges the Agency’s decision to trigger Clean Air Act regulation.
NEWS STORY:
CORPORATE SUSTAINABILITY | ENVIRONMENTAL, SOCIAL, AND GOVERNANCE RESEARCH
2010 Sees the Publication of Two Lists of Most Sustainable Companies
Following its 2009 purchase of Innovest, RiskMetrics uses for its Global ESG 100 the ESG research previously supplied to Corporate Knights, while Corporate Knights turns to three research providers, including a startup of Innovest cofounder, for its Global 100.
BOOK REVIEW:
COMMUNITY INVESTING | BOOK REVIEW
Book Review: Solutions for Impact Investors: From Strategy to Implementation
Authors Steven Godeke and Raul Pomares seek to provide an investment strategy that can combine social impact with financial returns.
NEWS BRIEF:
CLIMATE CHANGE | SUPPLY CHAINS | CORPORATE REPORTING
Carbon Disclosure Project Publishes Second Annual Supply Chain Report
The report finds increased engagement by corporations with suppliers on climate change, and growing expectations for improved performance.
NEWS STORY:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
Treasury Department Will Invest $1 Billion in Community Development Financial Institutions
With unemployment rates still at record highs and big banks unwilling to lend to small businesses, CDFIs welcome the infusion of capital when demand for their services is greater than ever.
NEWS BRIEF:
CLIMATE CHANGE | CORPORATE REPORTING | REGULATORY ACTIONS
SEC Posts Interpretive Guidance for Climate Change Disclosure on Website
The Commission reminds companies of their obligation to consider such issues as legislative and regulatory developments, business trends, and physical impacts in disclosure relating to climate change.
NEWS BRIEF:
INSTITUTIONAL INVESTORS | SHAREOWNER ACTIVISM | CORPORATE GOVERNANCE
TIAA-CREF Calls on Shareowners to Take More Active Roles in Corporate Governance
Referring to crises in governance from Enron to the financial crisis, the financial services organization recommends that institutional investors meet their responsibilities as universal owners through active engagement with companies in their portfolios.
NEWS STORY:
SHAREOWNER ACTIVISM | CORPORATE SOCIAL RESPONSIBILITY | POLITICAL SPENDING
In Wake of Controversial Supreme Court Decision, Shareowner Activists Develop Plan for Corporate Disclosure of Political Spending
Asserting that excessive corporate political spending reduces shareowner value and weakens corporate governance, shareowner advocates call on corporations to adopt a framework for disclosure developed by the Center for Political Accountability.
NEWS BRIEF:
ENVIRONMENTAL, SOCIAL, AND GOVERNANCE ISSUES | EXECUTIVE COMPENSATION
Shareowners Are Urged to Press Companies to Link Compensation with ESG Factors
A Eurosif study of companies listed in the FTSE Eurofirst300 index finds that relatively few European companies link executive compensation to ESG performance, with financial institutions lagging behind all other sectors.
BOOK REVIEW:
CORPORATE SOCIAL RESPONSIBILITY | BOOK REVIEW
Book Review: The Surprising Solution: Creating Possibility in a Swift and Severe World
Author Bruce Piasecki describes a new global equity culture in which the corporations that thrive will be those that respond to the social challenges of a resource-restrained world.
NEWS BRIEF:
CLIMATE CHANGE
Obama Announces Greenhouse Gas Reduction Targets for Federal Agencies
Following his October Executive Order directing Federal agencies to set reduction targets, Obama announces that the Federal Government will reduce GHG emissions by 28% by 2020.
NEWS BRIEF:
SHAREOWNER ACTIVISM | CORPORATE GOVERNANCE
SEC Ruling on Proxy Disclosure Is Likely to Lead to Increased Shareowner Activism
An overview by the Corporate Library details some of the possible effects of the ruling on shareowner actions in what could shape up to be a critically important proxy season.
NEWS BRIEF:
SHAREOWNER ACTIVISM | ENVIRONMENTAL ISSUES
Shareowner Campaign Targets Hydraulic Fracturing by Natural Gas Companies
Twelve shareowner resolutions ask natural gas companies for transparency about the business and environmental risks of a controversial drilling method.
NEWS BRIEF:
CLIMATE CHANGE | CORPORATE REPORTING |REGULATORY ACTIONS
SEC Issues Guidance for Corporate Reporting on Climate Change
The decision, which directs companies to disclose business risks and opportunities associated with climate change, is welcomed by investors who have been calling for such guidance for years.
NEWS STORY:
CORPORATE REPORTING | SUSTAINABILITY
Report Links Effective Corporate Sustainability Reporting to Presence of Key Performance Indicators
Based on his survey of prominent investors and analysts, Dr. Axel Hesse of Sustainable Development Management develops key performance indicators for sustainability that should be included in corporate reporting.
NEWS BRIEF:
CLIMATE CHANGE | CORPORATE REPORTING
Sixty Companies Agree to Measure Emissions From Product Life Cycles and Supply Chains
Measurement and disclosure of Scope 3 emissions and emissions from product life cycles are based on standards developed by the Greenhouse Gas Protocol.
NEWS STORY:
MUTUAL FUNDS | SOCIALLY RESPONSIBLE INVESTING
Most Socially Responsible Mutual Funds Outperformed Benchmarks in 2009
A study of mutual funds managed by members of the Social Investment Forum finds that two-thirds outperformed their benchmarks across nearly all asset classes in 2009, and most large cap funds outperformed the S&P 500 over three and 10 years.
NEWS STORY:
SHAREOWNER ACTIVISM | CORPORATE SOCIAL RESPONSIBILITY | CORPORATE REPORTING
Apple Tells Shareowners to Reject Proposal for Annual Sustainability Report
Asserting that industry peers HP and Dell issue such reports and are far more transparent on sustainability issues, shareowner proposal filed by As You Sow requests that Apple produce a report that includes greenhouse gas reduction targets.
NEWS STORY:
CORPORATE SOCIAL RESPONSIBILITY | POLITICAL SPENDING | SUPREME COURT
Advocates for Corporate Accountability Denounce Supreme Court Ruling on Political Spending
Fearing that the decision will lead to an erosion of standards for corporate accountability and disclosure, advocates call on shareowners to redouble efforts for disclosure of corporate political spending.
NEWS BRIEF:
CARBON OFFSETS | DEFORESTATION AND FOREST DEGRADATION
Report Details the Growth of Market for Forest Offset Credits
Although the vast majority of projects are transacted in voluntary markets, third-party certification as well as commitments to offsets by governments have grown.
NEWS BRIEF:
CORPORATE SOCIAL RESPONSIBILITY | PUBLIC-PRIVATE PARTNERSHIPS
UN Introduces Website for Partnerships with Business
The need for humanitarian assistance following disasters such as earthquake in Haiti leads to development of the first single interface connecting business with the entire UN system.
NEWS BRIEF:
SHAREOWNER ACTIVISM | CORPORATE SOCIAL RESPONSIBILITY | TAR SANDS
Canadian Tar Sands Are Target of Shareowner Resolution at Shell
Coalition of investors successfully files a resolution addressing the financial, environmental, and reputational risks of Shell's oil extraction from Canadian tar sands.
NEWS BRIEF:
CLIMATE CHANGE | GOVERNMENT POLICIES | PRIVATE INVESTMENT
Investors Call on Governments to Act on Climate Change Now
Investor groups attending the 2010 Investor Summit on Climate Risk at the UN endorse a statement calling for climate change policies that encourage private investment.
NEWS STORY:
SUPPLY CHAINS | MINERALS | DEMOCRATIC REPUBLIC OF CONGO
Investors Urge Companies to Keep Minerals from War-Torn Congo Out of Supply Chains
Minerals smuggled out of the Democratic Republic of the Congo are funding the conflict there by entering the corporate supply chains of several industries, and investors are requesting that companies take steps to end the process.
NEWS BRIEF:
INTERNET PRIVACY | CHINA
Google to Review Business Operations in China Following Cyber-Attacks
After years of complying with Chinese demands for self-censorship, Google responds to attacks on users’ email by announcing it is no longer willing to censor search results.
NEWS BRIEF:
CORPORATE SOCIAL RESPONSIBILITY | SUPPLY CHAINS
Investors Remain at Risk Due to Corporate Breaches of Supply Chain Standards
According to a new EIRIS report, companies in consumer industries are responding to NGO pressure, but recommends investor engagement with companies on supply chain polices, management, and reporting.
NEWS STORY:
SUSTAINABLE INVESTING | MUTUAL FUNDS
Pax World Joins With Morningstar Associates to Launch ESG Managers Portfolios
The new series of asset allocation funds are designed for investment advisors and clients looking for environmental, social, and governance criteria in their investments.
NEWS STORY:
CLIMATE CHANGE | INVESTMENT RISKS AND OPPORTUNITIES | ASSET MANAGERS
Despite Improvements in Corporate Disclosure and Regulatory Oversight, Many Asset Managers Still Do Not Consider Climate Change in Analyses
A survey of asset managers by Ceres finds that nearly half believe that climate risk is not material to their investment analysis, despite their fiduciary duty to evaluate risk as part of their due diligence review.
NEWS STORY:
GENOCIDE-FREE INVESTING
TIAA-CREF Divests its Holdings in Oil Companies Operating in Sudan
Responding to the genocide in Darfur, TIAA-CREF follows up on its commitment of March, 2009, and divests its holdings in four Asian state-owned oil companies after engagement shows insufficient progress.
NEWS STORY:
CORPORATE SOCIAL RESPONSIBILITY | INDIA
Indian Government Issues Voluntary Guidelines for Corporate Governance and Corporate Social Responsibility
At the conclusion of the first India Corporate Week, the Ministry of Corporate Affairs issues guidelines intended to encourage best practices in corporate governance and corporate social responsibility.
NEWS BRIEF:
ECONOMIC CRISIS | SUBPRIME MORTGAGE LENDING | REGULATORY REFORM
Fed Chief Acknowledges Failure of Regulatory Oversight in Subprime Mortgage Crisis
Federal Reserve Chairman Bernanke calls for strengthening regulatory system to prevent the recurrence of a crisis warned of by the socially responsible investment community for years.
NEWS BRIEF:
ENVIRONMENTAL, SOCIAL, AND GOVERNANCE | CORPORATIONS | KOREA
Korean Companies Expect to Increase Sustainability Management Practices
Survey finds that while such issues as environmental management and supply chain management remain low among corporate priorities in Korea, climate change legislation and the outperformance of sustainable companies will lead to widespread implementation.
NEWS BRIEF:
RENEWABLE ENERGY TECHNOLOGIES | PATENTS AND TRADEMARKS
US Patent and Trademark Office Launches Program to Speed Patent Applications in Green Technologies
The program is designed to encourage the development of alternative energy businesses in the US.
NEWS BRIEF:
CLIMATE CHANGE | CORPORATE REPORTING
Carbon Disclosure Project Publishes 2010 Information Request for Companies
In addition to the information request, which will be sent to more than 4,500 companies on February 1st, the CDP invites investors to become signatories.
NEWS BRIEF:
RENEWABLE ENERGY TECHNOLOGIES
US Department of Energy Will Fund Research and Development of Alternative Energy Sources
The formation by the DOE of three Energy Innovation Hubs is intended to accelerate the commercial deployment of new energy technologies.
NEWS BRIEF:
ENERGY EFFICIENCY | GREEN BUILDINGS |
Investing in Energy-Efficient Buildings Can Reduce Emissions While Strengthening Portfolios
A new report from Ceres and Mercer identifies efficiency as a significant front in mitigating climate change, and recommends that investors focus on efficiency measures in their real estate holdings.
NEWS STORY:
CORPORATE SOCIAL RESPONSIBILITY REPORTING
CSR Reporting by S&P 100 Companies Shows Improvement in 2009, But Disclosure by Companies in Emerging Markets Needs to Improve
Two recently commissioned reports by the Social Investment Forum chart the progress of corporate social responsibility reporting, both in the US and emerging markets.
NEWS STORY:
CLIMATE CHANGE | INSTITUTIONAL INVESTORS
Institutional Investors Object to Lack of Acknowledgement in Copenhagen
Open letter from the United Nations Principles for Responsible Investment to Heads of State asserts that the Copenhagen agreement ignores the fact that the vast majority of financing of climate change mitigation will come from private sources.
NEWS BRIEF:
SOCIALLY RESPONSIBLE INVESTING | MUTUAL FUNDS
Domini Social Equity Fund Outperforms S&P 500 Through November, 2009
The socially responsible investment fund reports return on investment of 31.43% through November 30, outperforming the S&P 500 by more than 7%.
NEWS STORY:
ECONOMIC CRISIS | JOBS CREATION
Ambitious Plan for Jobs Creation Is Offered by the Economic Policy Institute
According to its report, a plan to create at least 4.6 million jobs in the first year could be repaid by the implementation of a financial transactions tax.
NEWS STORY:
CLIMATE CHANGE | JOBS CREATION | PRIVATE INVESTMENT
Clean Jobs Creation Needs Private Investment to Succeed
A Five-Point Plan issued by the Apollo Alliance details a number of opportunities for private investors in the creation of jobs that help combat climate change. Second of a two-part series.
NEWS BRIEF:
SHAREOWNER ACTIVISM | EXECUTIVE COMPENSATION
Will Goldman’s New Bonus Policy Continue to Encourage Short-Termism?
Harrington Investments files a shareowner resolution that would require executives to retain shares awarded as bonuses until after retirement.
NEWS STORY:
CLIMATE CHANGE | RENEWABLE ENERGY | JOBS CREATION
Creating a Sustainable Clean Energy Economy Will Require Government Support
A report from the Global Climate Network finds that opportunities for investment in the global transition to a low-carbon economy will require government support in the current economic climate. First of a two-part series.
NEWS BRIEF:
RENEWABLE ENERGY | DEVELOPING NATIONS
US Secretary of Energy Announces Plan for Clean Energy Deployment in Developing Countries
While progress toward even a non-binding agreement in Copenhagen stalls, the US Secretary of Energy announces program to help fund energy efficiency measures in developing countries.
NEWS BRIEF:
EXCESSIVE CEO COMPENSATION | SAY ON PAY
Goldman Sachs to Allow Shareowner Advisory Vote on Executive Compensation
In the wake of an uproar over its plans to award $23 billion in bonuses, TARP recipient also announces that Management Committee will receive equity Shares at Risk instead of cash.
NEWS BRIEF:
CLIMATE CHANGE | DISCLOSURE
Institutional Investors Ask SEC to Clarify That Climate Change is a Material Risk
Despite regulatory and legislative progress, the failure of companies to disclose risks remains widespread, according to the request for interpretive guidance.
NEWS BRIEF:
GREENHOUSE GAS EMISSIONS | REGULATIONS
EPA Announces Endangerment Findings on Greenhouse Gas Emissions
The Agency responds to 2007 Supreme Court ruling by finding that greenhouse gases (GHGs) threaten public health and welfare, and finalizes proposed regulations to reduce vehicle emissions.
NEWS STORY:
CLIMATE CHANGE | INTERNATIONAL TREATIES
Treaty Conference on Climate Change Opens in Copenhagen
While prospects for signing of an international agreement seem delayed until next year, hopes for progress increase with rescheduling of Obama's participation and involvement of China and India.
NEWS BRIEF:
SHAREOWNER ACTIVISM | RETAIL INVESTORS
New Website Aims to Increase Proxy Voting by Retail Investors
Hoping to reverse a decline in proxy voting by retail shareowners, Moxy Vote assembles a group of advocates with which shareowners can choose to align their votes.
NEWS STORY:
ENVIRONMENTAL, SOCIAL, AND GOVERNANCE | INVESTMENT CONSULTANTS
Investment Consultants Believe that ESG Considerations by Investors Are Here to Stay
The Social Investment Forum surveyed US-based investment consultants and found that while they expect client interest in ESG will continue to grow, many remain uncertain of the financial impacts.
NEWS BRIEF:
SHAREOWNER RESOLUTIONS | EXECUTIVE COMPENSATION
ICCR Members Target Executive Compensation at Health Industry Companies
In their shareowner resolution, 30 ICCR members ask 21 companies in the health industry to report on disparities between executive compensation, including health benefits, to compensation of lowest-paid employees.
NEWS STORY:
ESG INVESTMENT RESEARCH | ACQUISITIONS
Thomson Reuters Acquires ASSET4, a Major Provider of ESG Investment Research
The merger is the latest of many in the sector in 2009, and positions Thomson Reuters to compete with major rival Bloomberg in providing ESG data to investors.
NEWS STORY:
CLIMATE CHANGE | TREATIES
Obama to Attend Climate Change Talks in Copenhagen
Hopes for substance in Copenhagen increase as the President intends to declare a US commitment to emissions reduction targets, and China announces targets as well.
NEWS BRIEF:
SHAREOWNER ACTIVISM | PROXY ACCESS
For Many Shareowners, Private Ordering Will Mean No Proxy Access
Report finds that unless SEC regulations on proxy access are enacted at a federal level, many shareowners will continue to face restrictions on corporate governance.
NEWS STORY:
CORPORATE SOCIAL RESPONSIBILITY | SHAREOWNERS | INSTITUTIONAL INVESTORS
Report Maps the Attitudes and Influence of Stakeholders on Corporate Social Responsibility
Although mainstream investors are identified as resistant to corporate citizenship activities in many countries, a report from the Boston College Center for Corporate Citizenship sees the influence of socially responsible investors to be growing.
NEWS STORY:
HUMAN RIGHTS | CORPORATE SUSTAINABILITY REPORTING
Corporations Are Advised to Improve Human Rights Reporting
The Global Reporting Initiative and its partners in a human rights initiative find insufficient attention to negative impacts of human rights issues in corporate reporting, and plans to update its Sustainability Reporting Framework.
NEWS BRIEF:
CLIMATE CHANGE | INSTITUTIONAL INVESTORS
Corporations are Failing to Recognize Adaptation in Their Climate Change Strategy
Finding that adaptation to climate change requires a long-term investment horizon, a report from UK-based institutional investors recommends that investors increase their role in public policy debates on climate change.
NEWS BRIEF:
CLIMATE CHANGE | LEGISLATION | ECONOMIC IMPACTS
Analysis of Waxman-Markey Finds that All States Will Benefit from Strong National Policies
A report from the University of California at Berkeley concludes that passage of climate change legislation could create 1.9 million jobs by 2020.
NEWS STORY:
CLIMATE CHANGE | WATER SCARCITY | CORPORATE REPORTING
Carbon Disclosure Project Launches CDP Water Disclosure Initiative
Seeking to replicate its success in increasing voluntary reporting by companies on carbon emissions, the CDP develops a mechanism for corporate reporting on water use.
NEWS BRIEF:
INVESTMENT RESEARCH | ENVIRONMENTAL, SOCIAL, AND GOVERNANCE
Studies Find Positive Link Between ESG Integration and Investment Performance
Mercer's second review of academic research into ESG factors again finds that most studies report a positive correlation with financial performance.
NEWS STORY:
SHAREOWNER ACTIVISM | HUMAN RIGHTS | INTERNET
Shareowner Activists Continue to Press Cisco on Human Rights
An investor coalition led by Boston Common Asset Management has sought for years to engage the company on the issue of freedom of expression on the Internet, but without meaningful response has had to re-introduce shareowner proposals.
NEWS BRIEF:
INVESTOR PROTECTION | BILATERAL AGREEMENTS
US and China Sign Memorandum of Understanding for Protection of Investors
Acknowledging the interdependence of their economies, the Securities Investor Protection Corporation and the China Securities Investor Protection Fund agree to partnership.
NEWS BRIEF:
SHAREOWNER ACTIVISM | HEALTH CARE REFORM
Companies Are Asked to Distance Themselves From Chamber on Health Care Reform
A letter from 60 members of the Interfaith Center on Corporate Responsibility asks 36 companies that have supported the principles of healthcare reform to publicly state their disagreement with the US Chamber of Commerce's opposition.
NEWS STORY:
COMMUNITY INVESTMENT | LOW INCOME HOUSING TAX CREDITS
Low Income Housing Advocates Call on Congress to Strengthen Tax Credit Program
A new report finds that the market for low-income housing tax credits declined by more than one-third due to the economic crisis, and proposes legislation for strengthening the program.
NEWS BRIEF:
CLIMATE CHANGE
Is Climate Denial Growing in the US?
Survey by the Pew Research Center for the People & the Press finds decreasing numbers believing evidence of global warming, but a majority in favor of a cap-and-trade program as well as an international agreement on climate change.
NEWS STORY:
EMISSIONS REDUCTION OFFSET CREDITS | DEFORESTATION
Forest Carbon Offset Market Needs Consistent Accounting Standards
The market for offset credits to mitigate deforestation is growing, but investors and other stakeholders require that guidance be provided in accounting for them.
NEWS BRIEF:
CLIMATE CHANGE | LEGISLATION
Senate Committee Approves Kerry-Boxer Climate Bill
The Clean Energy Jobs and American Power Act continues to face obstacles as it is considered this week by Senate committees on Finance, and Energy and Natural Resources.
NEWS STORY:
CLIMATE CHANGE | GOVERNMENT POLICIES
Current Government Policies Are not Enough to Ward Off Climate Change
Report from Deutsche Bank Climate Change Advisors warns that global emissions reduction targets are insufficient to meet the requirements established by climate science, but finds that aggressive policies and incentives can succeed.
NEWS BRIEF:
SHAREOWNER ACTIVISM | PROXY ACCESS | LEGISLATION
House Committee Approves Investor Protection Act
The Act, which includes an amendment authorizing the SEC to allow shareowner votes on corporate directors, awaits final approval from the full House of Representatives.
NEWS STORY:
ENVIRONMENTAL, SOCIAL, AND GOVERNANCE | CORPORATE REPORTING | STOCK EXCHANGES
Role of Stock Exchanges on Corporate ESG Disclosure Gains Traction
Reports from the World Federation of Exchanges and EIRIS coincide with UN meeting on how stock exchanges can encourage responsible investment.
NEWS BRIEF:
ESG RESEARCH | ACQUISITIONS AND MERGERS
RiskMetrics Acquires KLD
Deal is the second major acquisition of an ESG research provider by RiskMetrics in 2009.
NEWS BRIEF:
SUSTAINABILITY REPORTING | GENDER
Room for Improvement Exists in Corporate Sustainability Reporting on Gender
The Global Reporting Initiative and IFC issue guidance for enhanced corporate reporting on gender issues, and advise investors to encourage gender diversity.
NEWS BRIEF:
FOUNDATIONS | MISSION INVESTING
Foundations Project That Mission Investing Will Have Increased in 2009
Survey undertaken by More for Mission finds that mission investing by foundations continues despite effects of economic downturn, but that few respondents exercise shareowner advocacy.
NEWS STORY:
SHAREOWNER ACTIVISM | REGULATORY AGENCIES
Activist Shareowners Celebrate SEC Reversal of Bush-Era Ruling
New ruling from the Division of Corporation Finance would allow shareowner resolutions addressing the financial risks of corporate activities in environmental and social areas.
NEWS BRIEF:
CORPORATE SOCIAL RESPONSIBILITY
Stanford Professor Receives 2009 Moskowitz Prize
The annual prize for outstanding quantitative research in socially responsible investing is awarded to David P. Baron, Professor of Political Economy and Strategy at Stanford.
NEWS STORY:
CLIMATE CHANGE | CORPORATIONS
Are North American Companies Improving Their Climate Change Performance?
A new report from EIRIS finds that reporting and short-term reduction targets are comparable to global peers, but that North American companies lag in third-party verification and linking executive compensation to emissions reduction.
NEWS STORY:
NUCLEAR POWER PLANTS
Department of Energy Is Urged to Halt Loan Guarantees for Nuclear Power Plant Construction
Citing Nuclear Regulatory Commission's finding of potential design flaws in reactor proposed for deployment at several sites, ten organizations say loan guarantees would be "grossly imprudent."
BOOK REVIEW:
RESONSIBLE INVESTING | PENSION FUNDS
Book Review: Up from Wall Street: The Responsible Investment Alternative
Author Tom Croft, in describing evolution of asset allocation strategies by pension funds, notes damage done by economic crisis, but sees in economically targeted investments a way to realize returns while fulfilling stewardship mandate.
NEWS BRIEF:
CORPORATE SOCIAL RESPONSIBILITY
Consumers Are Using New Media to Engage with Companies on Issues of Corporate Responsibility
Survey by Cone finds that an increasing number of American new media users are using online outlets in efforts to influence corporate decision-making.
NEWS STORY:
SHAREOWNER ACTIVISM | EXECUTIVE COMPENSATION
Shareowners Rush to Challenge Goldman Sachs on Huge Payouts of Bonuses
As the TARP bailout recipient prepares to award executives with billions of dollars in bonuses, shareowners call for a review of its compensation practices.
NEWS BRIEF:
CLIMATE CHANGE | CORPORATE LOBBYING | TRADE ASSOCIATIONS
Investors Urge Companies to Distance Themselves from Associations Over Climate Change
A letter to 14 companies notes misalignment between their positions on climate change and that of the US Chamber of Commerce and the National Association of Manufacturers.
NEWS STORY:
ENDOWMENTS | SHAREHOLDER ENGAGEMENT | SUSTAINABILITY
Fourth Green Report Card for Colleges Is Released
The Sustainable Endowments Institute recognizes 26 colleges as Sustainability Leaders, up from 15 in 2009.
NEWS BRIEF:
CLIMATE CHANGE | FEDERAL GOVERNMENT | EXECUTIVE ORDERS
Obama Directs Federal Agencies to Reduce Emissions
Executive Order requires Federal agencies to set greenhouse gas emissions reduction targets within 90 days.
NEWS STORY:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
2009 Wachovia NEXT Awards for Opportunity Finance Are Awarded to Two CDFIs
The New Hampshire Community Loan Fund and the Federation of Appalachian Housing Enterprises are awarded a total of $8.25 million in low-cost loans and unrestricted grants.
NEWS STORY:
SOVERIGN WEALTH FUNDS | FOREIGN INVESTMENT
Sovereign Wealth Funds Are Slow to Adopt Santiago Principles
Report from the Investor Responsibility Research Center Institute and RiskMetrics Group finds low levels of disclosure among the ten largest SWFs, and little evidence of ESG considerations.
NEWS BRIEF:
MORTGAGE LENDING | REVERSE MORTGAGES
Are Senior Citizens the New Targets for Predatory Lenders?
The National Consumer Law Center finds an increase in reverse mortgages directed at older homeowners, and details potential opportunities for abuse by lenders.
NEWS STORY:
CLIMATE CHANGE | CORPORATE LOBBYING | TRADE ASSOCIATIONS
Defections from US Chamber Over Climate Change Continue
Apple resigns from Chamber effective immediately, and Nike resigns from Chamber Board of Directors while continuing to evaluate its membership.
NEWS BRIEF:
CLEAN TECHNOLOGY | VENTURE CAPITAL INVESTMENT
Venture Capital Investment in Clean Technology Continues Its Recovery
Investment in third quarter increases by 10% over second quarter to $1.59 billion, but remains down 42% compared to third quarter of 2008.
NEWS BRIEF:
CLIMATE CHANGE | CARBON OFFSETS
Survey Finds a Majority of Corporate Respondents Measuring Their Carbon Footprints
Most corporate respondents to an EcoSecurities survey have undertaken energy efficiency, recycling, and waste management activities, and would purchase carbon offsets to support solar and wind power projects.
NEWS STORY:
EXECUTIVE COMPENSATION
Executive Compensation Declines in 2008, but Far Less than Decline in Stock Markets
Report from the Corporate Library describes a slight decline in total realized executive compensation as revolutionary, but an inadequate response to much greater declines in shareowner value.
NEWS BRIEF:
CLIMATE CHANGE | GREENHOUSE GAS EMISSIONS | REGULATORY ACTIONS
EPA Proposes Rules for Regulation of Greenhouse Gas Emissions
Basing its authority on a 2007 Supreme Court decision that the Bush Administration ignored, the Agency would require large facilities emitting over 25,000 tons of greenhouse gases to obtain permits.
NEWS STORY:
RESPONSIBLE INVESTMENT | INVESTMENT ADVISORS
Investment Advisors Explore Ways to Incorporate ESG Issues into Their Services
The Boston College Institute for Responsible Investment produces a paper that summarizes the concepts and goals explored in a meeting of investment consultants and asset managers.
NEWS STORY:
COMMUNITY INVESTING | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS | FINANCIAL PRODUCTS
Report Looks at Prepaid Cards as Potential Source of Income for CDFIs
The National Community Investment Fund finds that by providing prepaid card services in underserved communities, CDFIs can help bring consumers without banking relationships into the mainstream economy.
NEWS BRIEF:
CREDIT RATING AGENCIES | REGULATORY ACTIONS
SEC Approves Proposals to Strengthen Oversight of Credit Rating Agencies
Finding that the failure of credit rating agencies to adequately serve investors' interests contributed to the economic crisis, the Commission's proposals include rules to increase disclosure.
NEWS BRIEF:
CLIMATE CHANGE | CORPORATE EMISSIONS REPORTING
EPA Finalizes Rule for Mandatory Emissions Reporting
Facilities responsible for 85% of greenhouse gas emissions in the US will be required to monitor and report on emissions starting in 2010.
NEWS BRIEF:
CLIMATE CHANGE
PG&E Quits US Chamber of Commerce over Differences in Climate Change
Utility cites "fundamental differences" following call by Chamber's senior vice president for "Scopes monkey trial" of climate change science.
NEWS STORY:
CLIMATE CHANGE | EMERGING MARKETS | FINANCIAL INSTITUTIONS
Emerging Markets Financial Institutions Should Increase Attention to Climate Change
Report commissioned by DEG and prepared by Ceres and RiskMetrics finds improvements in corporate governance, but much work yet to be done in emissions measurement and reporting.
NEWS STORY:
GREENHOUSE GAS EMISSIONS | CORPORATE REPORTING
CDP Issues Annual Report on Emissions Reporting by World's Largest Companies
The CDP's 2009 report includes responses from 82% of the 500 largest companies in the FTSE Global Equity Index Series, with significant improvements noted in responses from developing countries.
NEWS STORY:
ESG INVESTMENT RESEARCH | MERGERS AND ACQUISITIONS
Jantzi—Sustainalytics Merger the Most Recent as the Consolidation of ESG Research Sector Continues
Three representatives from the ESG research sector speak with SocialFunds.com about the factors contributing to the number of mergers in a rapidly maturing field.
NEWS BRIEF:
ENVIRONMENTAL, SOCIAL, AND GOVERNANCE
Newsweek Publishes List of Top 500 Green Companies in US
The mass-market publication uses research from KLD and Trucost to arrive at its rankings.
NEWS BRIEF:
SHAREOWNER ACTIVISM | PROXY GOVERNANCE
Shareowner Opposition to Board Nominees Increases in 2009
PROXY Governance finds that significant increase in votes against nominees in director elections led to failure of 84 directors at 48 companies to attain majority shareowner support.
NEWS STORY:
ENVIRONMENTAL, SOCIAL, AND GOVERNANCE | INSTITUTIONAL INVESTORS
Aspen Institute Calls for End of Short-Termism by Business and Investors
In citing benefits to society of long-term business and investment strategies, report incorporates terms often utilized by socially responsible investors.
NEWS STORY:
CLIMATE CHANGE | INSTITUTIONAL INVESTORS
Investors Call for Binding Climate Change Agreement in Copenhagen
Group of 181 institutional investors representing $13 trillion in assets says that a global agreement is necessary for confidence in investment in climate change mitigation.
NEWS BRIEF:
CLIMATE CHANGE | CAP AND TRADE
Carbon Disclosure Project Forms Partnership with Chicago Climate Exchange
Partnership intends to raise visibility of greenhouse gas emissions measurement and reporting, and increase opportunities for companies and investors.
NEWS BRIEF:
CLIMATE CHANGE | CARBON OFFSETS
Report Calls Carbon Offsets a Disaster for Averting Climate Change
Friends of the Earth contends that international offsets allow developed countries to go on polluting, and delay the development of a global low-carbon economy.
NEWS BRIEF:
INDEXES | SOCIALLY RESPONSIBLE INVESTING
Semi-Annual Review of FTSE4Good Index Series Is Completed
Widely-used benchmark for responsible investment adds 33 companies, and deletes 15 for failing to meet standards of corporate responsibility.
NEWS STORY:
ECONOMIC CRISIS | REGULATORY REFORM
Social Investment Forum Issues Framework for Reform of Financial Industry
Organization of socially responsible investors states its support for Obama Administration recommendations, while calling for mandatory environmental, social, and governance disclosure as well.
NEWS BRIEF:
CLIMATE CHANGE | COAL INDUSTRY
Alstom Power Joins Exodus from Scandal-Plagued American Coalition for Clean Coal Electricity
One week after Duke Energy left the trade group, French-based Alstom Power does the same, citing the group's opposition to climate change legislation as its reason.
NEWS STORY:
BOARDS OF DIRECTORS | BOARD INDEPENDENCE
Walden Asset Management Calls on Corporations to Separate Roles of CEO and Board Chair
Citing the findings of the Millstein Center for Corporate Governance and Performance, letter to 32 corporations describes the independent Chair as a step toward regaining trust during the economic crisis.
NEWS BRIEF:
CLIMATE CHANGE
Third World Climate Conference Ends with Call from Experts for a Strengthened Global Framework
Participants in the Expert Segment of the Conference conclude that current climate services capabilities are insufficient, and major new and strengthened research efforts are necessary.
NEWS BRIEF:
SHAREOWNER ACTIVISM
Nine Investor Law Firms Support SEC Efforts to Ensure Shareowner Rights
Letter from nine securities and corporate governance law firms supports the rights of shareowners to vote on board nominees, and argues against permitting companies to opt out of disclosure requirements.
NEWS STORY:
SUSTAINABLE DEVELOPMENT | COMMUNITY INVESTMENT | CLIMATE CHANGE
Sustainable Development Is Integral to Reducing Impacts of Climate Change
Report by the UCLA School of Law calls for commitment from local, state, and federal governments to remove impediments to sustainable development projects.
NEWS BRIEF:
INDEXES | SUSTAINABILITY
Annual Review of the Dow Jones Sustainability World Index Is Completed
Global composite index, which tracks leaders in corporate sustainability, adds 33 companies and deletes 33, leaving the number of components at 317.
NEWS STORY:
SHAREOWNER ACTIVISM | CLIMATE CHANGE
Record-Breaking Numbers of Resolutions and Engagements on Climate Change are Recorded in 2009 Proxy Season
Ceres counts 68 climate-related shareowner resolutions filed in 2009, 31 of which were withdrawn following successful engagement with companies.
NEWS BRIEF:
CLIMATE CHANGE | WATER SCARCITY
World Water Week Participants Call for Attention to Water Issues at Copenhagen Climate Conference
Unanimously supported by 2,500 participants, the Stockholm Statement calls for inclusion of adaptive measures with broad development goals, and increased funding to support adaptive measures.
NEWS BRIEF:
ENVIRONMENTAL, SOCIAL, AND GOVERNANCE | EMERGING MARKETS
Emerging Markets Offer Opportunities for Sustainable Investors
Research by UBS finds opportunities for investment in renewable energy and sustainable transportation in Asia, and affordable housing in Latin America.
NEWS STORY:
ENVRONMENTAL, SOCIAL, AND GOVERNANCE | EMERGING MARKETS
Investors Are Enthusiastic About ESG in Emerging Markets
IFC report finds that sustainable criteria are of increasing importance to asset owners and managers when investing in emerging markets.
NEWS STORY:
ENVIRONMENT | CORPORATE SOCIAL RESPONSIBILITY
Largest US Companies Have to Improve Environmental Policies, Practices, and Disclosure
Report finds that few companies listed in the Russell 1000 Index have publicly available environmental policies, certifiable environmental management systems, or sustainability reporting mechanisms.
NEWS BRIEF:
CLIMATE CHANGE | CORPORATE SOCIAL RESPONSIBILITY
Emissions Reduction Targets of Largest Companies Fail to Meet Scientific Standards
Report from the Carbon Disclosure Project analyzes emissions reduction targets of the world's 100 largest companies, and warns that targets are insufficient to meet scientific guidelines.
NEWS BRIEF:
SUSTAINABILITY INVESTING | INDEXES
KLD's Sustainability Indexes Are Rebranded as a Result of Partnership with FTSE
Rebranded indexes include the Domini 400 Social Index, the first index to employ ESG factors, which is now named the FTSE KLD 400 Social Index.
NEWS STORY:
SOCIALLY RESPONSIBLE INVESTING | MUTUAL FUNDS
Many SRI Funds Are Outperforming Benchmarks in 2009
The Appleseed Fund continues its strong performance among domestic equity funds, while Pax World posts highest return on investment among fixed-income products.
NEWS BRIEF:
PENSION FUNDS | GREEN INVESTING
New York State Retirement Fund Invests $200 Million in Green Indexes
Green Strategic Investment Program, established to commit $500 million to green investment strategies, chooses the FTSE Environmental Technology 50 and the HSBC Global Climate Change Index as benchmark indexes.
BOOK REVIEW:
CLIMATE CHANGE | SUSTAINABLE INVESTING | BOOK REVIEW
Book Review: Investment Opportunities for a Low Carbon World
Thirty-one contributors to collection of essays edited by Will Oulton of FTSE Group analyze low-carbon technologies and related investment opportunities.
NEWS BRIEF:
COMMUNITY INVESTING | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
Contenders for 2009 Wachovia NEXT Awards for Opportunity Finance Are Announced
Presented by the Opportunity Finance Network, the awards will provide $8.25 million in financing to leading Community Development Financial Institutions.
NEWS BRIEF:
COMMUNITY INVESTING | FAITH-BASED INVESTORS
Faith-based Investors Get Handbook to Help Increase Community Investing
The Social Investment Forum has published a handbook to help facilitate the increase in community investing by faith-based individual and institutional investors.
NEWS BRIEF:
SUSTAINABLE INVESTING | INDEXES | JAPAN
Dow Jones Sustainability Japan 40 Index Is Launched
Index includes the largest 40 sustainability leaders in Japan, based on corporate sustainability assessments by SAM.
NEWS BRIEF:
CLIMATE CHANGE | INTERNATIONAL AGREEMENTS
US and China Agree to Cooperate on Climate Change
Memorandum of Understanding reinforces UN Framework Convention on Climate Change, and calls for the two countries to seek input from business and non-governmental organizations in efforts to combat climate change.
NEWS BRIEF:
COMMUNITY INVESTING | MICROFINANCE
María Otero Is Confirmed as US Under Secretary of State for Democracy and Global Affairs
Under her leadership as CEO since 2000, ACCION International served 3.7 million micro-entrepreneurs and had a combined portfolio of nearly $3.6 billion.
NEWS STORY:
CLIMATE CHANGE | CORPORATE SOCIAL RESPONSIBILITY
Largest Companies in FTSE All World Index Show Improvement in Addressing Climate Change, but Room for Further Improvement Remains
Report by EIRIS compares 2009 performance of the 300 largest companies in the Index to that of 2008, and finds that while corporate commitment to mitigation has improved, unmitigated risk is still unacceptably high.
NEWS BRIEF:
RESPONSIBLE INVESTING
Responsible Investing Poised to Become Mainstream
Report by Robeco Investment Management and Booz & Company expects responsible investing to grow to as much as 20% of total assets under management by 2015.
NEWS BRIEF:
RENEWABLE ENERGY | AMERICAN RECOVERY AND REINVESTMENT ACT OF 2009
Treasury Department Calls for Applications for Renewable Energy Grants
Under the American Recovery and Reinvestment Act, at least $3 billion is available for construction of renewable energy facilities.
NEWS STORY:
CLIMATE CHANGE | ENERGY EFFICIENCY
Efficiency Measures Can Play Major Role in Reducing US Greenhouse Gas Emissions
Two new reports find considerable potential in energy efficiency for significant reductions in US greenhouse gas emissions, and that cost savings should far outweigh the price of implementation.
NEWS BRIEF:
RENEWABLE ENERGY | VENTURE CAPITAL
Investor Confidence in Cleantech Rebounds in Second Quarter
Analysis by Ernst & Young finds significant increases in venture capital investment in the second quarter, and increased private equity and asset based financing as well.
NEWS STORY:
WATER SCARCITY | WATER UTILITIES | SOCIALLY RESPONSIBLE INVESTMENT
ESG Disclosure by Water Services Sector is Insufficient, Report Finds
Survey by the Interfaith Center on Corporate Responsibility of ESG reporting by water companies finds that investors are provided too little information on which to make informed investment decisions.
NEWS BRIEF:
CORPORATE SOCIAL RESPONSIBILITY | HUMAN RIGHTS
Website Containing Human Rights Records of Corporations Adds Work by UN Representative for Business and Human Rights
Portal maintained by the Business & Human Rights Resource Centre includes all material published by John Ruggie, the United Nations Secretary General's Special Representative on business & human rights.
NEWS BRIEF:
SHAREOWNER RIGHTS | EXECUTIVE COMPENSATION
US House Passes Bill that Limits Executive Compensation
In addition to requiring annual shareowner votes on executive compensation, the bill gives regulators the power to prohibit risky compensation packages at large financial institutions.
NEWS STORY:
ENVIRONMENTAL, SOCIAL, AND GOVERNANCE REPORTING | INSTITUTIONAL INVESTORS
Socially Responsible Investors Welcome Signs that the SEC is Considering Mandatory ESG Reporting
The Social Investment Forum responds to questions from SEC commissioners on mandatory ESG reporting with letter, and the first meeting of the SEC's Investor Advisory Committee includes ESG reporting on its agenda.
NEWS BRIEF:
CORPORATE SOCIAL RESPONSIBILITY | SUPPLY CHAIN MANAGEMENT
Companies Face Challenges in Improving Visibility of Supply Chains
Respondents to a Business Performance Management Forum survey cite cost savings, environmental compliance, and improved customer service as factors in enforcing sustainability throughout their supply chains.
NEWS STORY:
CLIMATE CHANGE | MUTUAL FUNDS | SOCIALLY RESPONSIBLE INVESTING
Green Century Balanced Fund Is First US Mutual Fund to Disclose Carbon Footprint
Using analysis by Trucost, Green Century Capital Management finds that greenhouse gas emissions of companies in its Balanced Fund portfolio are 66% less than those of S&P 500 companies.
NEWS BRIEF:
SUSTAINABILITY REPORTING | ENTERTAINMENT INDUSTRY
Entertainment Sector Lags Behind Other Industries in Environmental and Social Reporting
Report from the Roberts Environmental Center awards no points for environmental performance to any of 14 entertainment companies surveyed.
NEWS BRIEF:
CORPORATE GOVERNANCE | SHAREOWNER ACTIVISM
Report Calls for Effective Board Oversight of Risk Exposure and Exercise of Shareowner Responsibilities
UK report identifies excessive risk taking by financial industries as significant factor in the financial crisis, and provides recommendations for boards and institutional shareowners to prevent recurrence.
NEWS STORY:
ENVIRONMENTAL, SOCIAL, AND GOVERNANCE | INSTITUTIONAL INVESTORS
ESG Issues Should be Embedded in Legal Agreements Between Investors and Advisors, Report Finds
A new report by the Asset Management Working Group of the United Nations Environment Program Finance Initiative argues that advisors who fail to raise ESG issues with clients face the risk of lawsuits. Second in a two-part series.
NEWS STORY:
ENVIRONMENTAL, SOCIAL, AND GOVERNANCE | INSTITUTIONAL INVESTORS
UNEP Hones Legal Argument for ESG Incorporation in Investments in New Study
Report by the United Nations Environment Program Finance Initiative's Asset Management Working Group serves as a sequel to landmark Freshfields study, which established legal case for ESG criteria in investing. First in a two-part series.
NEWS BRIEF:
EXCHANGE-TRADED FUNDS | PROXY VOTING
As ETFs Gain Popularity among Investors, Their Proxy Voting Power Grows as Well
A new report by the Investor Responsibility Research Center Institute and PROXY Governance examines the proxy voting guidelines and voting records of the seven largest ETFs in the US.
NEWS BRIEF:
RESPONSIBLE INVESTING | PRIVATE EQUITY
PRI Issues Guidance for Responsible Investment in Private Equity
Responsible Investment in Private Equity: A Guide for Limited Partners seeks to apply the Principles for Responsible Investment to the unique characteristics of private equity investing.
NEWS STORY:
RESPONSIBLE INVESTING | SHAREOWNER ENGAGEMENT | CORPORATE REPORTING
Responsible Investors Show no Sign of Retreat from Principles in Troubled Times
Report by the UN Principles for Responsible Investment finds that asset owners and investment managers have increased their commitment to Responsible Investing in the wake of the economic crisis.
NEWS BRIEF:
CLIMATE CHANGE | INSTITUTIONAL INVESTORS
Investor Awareness of Impact of Climate Change is Growing
The Institutional Investors Group on Climate Change finds that signatories to its Investor Statement on Climate Change report increased attention to climate change in their investments.
NEWS STORY:
CLIMATE CHANGE | EQUITY INDICES
FTSE Develops Classification System for Environmental Products and Services
Investors preparing to gain exposure to the global transition to a low-carbon economy now have a classification system to help guide their investment decisions.
NEWS BRIEF:
CLIMATE CHANGE | EQUITY FUNDS
Fund Managers Fail to Actively Manage Carbon Risks in Investments
Report on greenhouse gas emission by companies in UK-based equity funds encourages pension funds and fund managers to take steps to manage exposure to carbon risks in their portfolios.
NEWS STORY:
MICROFINANCE | ECONOMIC CRISIS
Microfinance Practitioners See Themselves as Vulnerable to Macro-Economic Forces
Second Microfinance Banana Skins report finds that in wake of economic crisis, financial issues such as credit risk and liquidity replace management quality and corporate governance as primary concerns.
NEWS BRIEF:
SHAREOWNER ACTIVISM | MUTUAL FUNDS | CANADA
Canadian Mutual Funds Continue to Vote Against Shareowner Proposals
Study finds that SRI funds offered by mainstream fund companies vote in favor of management, even on core ESG issues.
NEWS STORY:
ENVIRONMENTAL, SOCIAL, AND GOVERNANCE REPORTING | EMERGING MARKETS
Investors Call for Improved ESG Disclosure by Companies in Emerging Markets
Seventy percent of respondents to survey by the Emerging Market Disclosure Project say that lack of ESG disclosure by companies in emerging markets hampers their efforts to increase investments.
NEWS BRIEF:
SUSTAINABILITY INVESTING | MUTUAL FUNDS
SAM Launches New Mutual Fund for US Investors
The SAM Sustainable Global Active Fund invests in companies based on sustainability criteria.
NEWS BRIEF:
SHAREOWNER ACTIVISM | REGULATORY AGENCIES
SEC Proposes Rule Changes to Improve Corporate Transparency
Proposals address shareowner votes on executive compensation at TARP recipients and disclosure of information on corporate governance, and eliminate broker voting on uninstructed shares.
NEWS STORY:
SHAREOWNER ACTIVISM
Findings of Chamber Report on Proxy Voting are Challenged
Adam Kanzer of Domini Social Investments analyzes report issued by the US Chamber of Commerce, and finds questionable methodology and political bias.
NEWS STORY:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
Report Suggests that CDFIs are Weathering the Worst of the Economic Crisis
With funding for community development financial institutions a central part of the economic stimulus, and with renewed interest from individual investors, CDFIs look forward to improved performance for remainder of 2009.
NEWS BRIEF:
CLIMATE CHANGE | LEGISLATION
House Passes Waxman-Markey Clean Energy Bill
American Clean Energy and Security Act seeks to reduce US dependence on oil, invest in clean energy technologies, and reduce carbon emissions.
NEWS STORY:
BOOK REVIEW | CLIMATE CHANGE | SUSTAINABLE CORPORATIONS
Book Review: The Truth about Green Business
Author Gil Friend surveys the current state of sustainable corporations, and provides steps that companies can take to green their business.
NEWS BRIEF:
INDICES | EMISSIONS REPORTING
New Investment Indices Will Track Companies Adapting to Low-Carbon Economy
Family of indices developed by the Carbon Disclosure Project and Markit join a growing number of investment vehicles that include environmental considerations.
NEWS STORY:
SHAREOWNER RESOLUTIONS
Activist Shareowners Tally Victories in 2009 Proxy Season
The Interfaith Center on Corporate Responsibility and As You Sow report successful shareowner efforts on resolutions addressing corporate governance, the environment, and human rights.
NEWS BRIEF:
CORPORATE SOCIAL RESPONSIBILITY | INDIGENOUS PEOPLES
Lack of Indigenous Rights Policies Puts Companies at Risk
Report finds that few companies engaged in extractive business activities in indigenous lands have policies that address indigenous rights concerns.
NEWS BRIEF:
CORPORATE GOVERNANCE | PRIVATE EQUITY
Do Private Equity Buyouts Lead to Improved Corporate Governance?
Report by the Investor Responsibility Research Center Institute finds that governance policies at buyout-backed companies often reward executives at the expense of shareowners.
NEWS STORY:
CORPORATE REPORTING | PRODUCT LIABILITY | NANOTECHNOLOGY
Investors Face Risk From Lack of Disclosure by Nanotechnology Companies
Report from the Investor Environmental Health Network finds that regulatory loopholes leave investors in the dark about potential liabilities, and suggests corrective steps for regulators to take.
NEWS BRIEF:
SHAREOWNER ACTIVISM | HUMAN RIGHTS
Investors Call on ILO to Ensure End of Child Labor in Uzbekistan
Letter from investors to the ILO cites documentation that rights abuses continue in Uzbek cotton harvest, and asks the organization to monitor fall 2009 harvest.
NEWS STORY:
CLEAN ENERGY ECONOMY | JOB GROWTH
Job Growth in Clean Energy Outpaces Overall Job Market
Report from the Pew Center on the States finds that job growth in the clean energy economy has been sustained by investment, and with increased government assistance is likely to weather economic downturn.
NEWS BRIEF:
CORPORATE SOCIAL RESPONSIBILITY
Industry Initiatives Help Companies Adapt to Expectations on CSR Issues
Report by the Ethical Corporation Institute finds examples of success among industry initiatives that address CSR, but others that have yet to meet the expectations of stakeholders.
NEWS STORY:
FAIR MORTGAGE LENDING
Mortgage Borrowers Gain Tool to Access Fair and Safe Loans
The Fair Mortgage Collaborative provides consumers with access to mortgage lenders who have been certified for their fair lending practices.
NEWS BRIEF:
SHAREOWNER ACTIVISM | EXECUTIVE COMPENSATION
Obama Administration Proposes Legislation on Say-on-Pay
Legislation would authorize the SEC to require annual shareowner votes on executive compensation, and would require standards of independence for corporate compensation committees.
NEWS BRIEF:
BIODIVERSITY | CORPORATIONS
Damage to Ecosystems Can Lead to Financial Losses and Reputational Risks for Companies
Report by Eurosif and oekem research finds that risks to five industrial sectors can be offset by attention to biodiversity. The financial services sector faces risks and opportunities as well.
NEWS STORY:
CLIMATE CHANGE | CORPORATE REPORTING
Guidelines for Corporate Disclosure of Costs of Climate Change Are Proposed
The Climate Disclosure Standards Board issues a proposed framework that would align corporate reporting of climate change with principles and objectives of financial reporting rules.
NEWS BRIEF:
CAP-AND-TRADE LEGISLATION | CORPORATIONS
S&P 500 Companies Face Financial Risks Under Cap-and-Trade Legislation
Report by the Investor Responsibility Research Center Institute and Trucost finds the utilities sector to be especially vulnerable, and advises investors to incorporate climate change risks into their investment strategies.
NEWS STORY:
SOCIAL INVESTING | REGULATORY BODIES
SEC Forms Investor Advisory Committee
Commission invokes its mandate to protect investors as a factor in the formation of the Committee, which includes in its membership representatives of the social investment community.
NEWS BRIEF:
RENEWABLE ENERGY | ECONOMIC CRISIS
Investments in Clean Energy Are Hampered by Financial Crisis
Report by the United Nations Environment Program finds that modest improvement in investment amounts in 2008 have been undermined by the financial crisis, as investors wait for effects of government policies.
NEWS STORY:
CLIMATE CHANGE | INSTITUTIONAL INVESTORS
Investors Must Lead Efforts to Reduce Climate Change Risks
Report by the United Nations Global Compact finds opportunities in a transition to a low-carbon economy to be challenged by the urgency of climate change risks.
NEWS BRIEF:
CORPORATE SOCIAL RESPONSIBILITY|CAUSE MARKETING
Annual Halo Awards Are Given to Cause Marketing Partnerships of Companies and Nonprofits
The Cause Marketing Forum bestows its Golden Halo Awards upon Timberland and Share Our Strength for their use of cause marketing to achieve socially beneficial ends.
NEWS STORY:
SHAREOWNER ACTIVISM|CORPORATE GOVERNANCE
Hybrid Boards of Directors Can Lead to Increased Share Values
Study by the Investor Responsibility Research Center Institute and PROXY Governance finds that efforts by activist institutional shareowners to seat dissident board members correlates with increased share prices.
NEWS BRIEF:
CLIMATE CHANGE
Global Business Leaders Issue Call for Effective Climate Change Treaty
At the World Business Summit on Climate Change, statement by business leaders outlines issues that an effective climate change treaty must address.
NEWS STORY:
CORPORATE SOCIAL RESPONSIBILITY| ESG
World's Largest Stock Exchange Will Provide ESG Information to Its Listed Companies
Collaboration of NYSE Euronext and ASSET4 will provide companies listed on the exchange with access to ASSET4's database of ESG information on 2,800 of the world's largest companies.
NEWS BRIEF:
CORPORATE SOCIAL RESPONSIBILITY | SUPPLY CHAINS | AFRICA
Coca-Cola Distribution Model Contributes to Entrepreneurship in Africa
Report finds that the company's Manual Distribution Centers have led to the creation of 12,000 jobs while contributing to the Millennium Development Goals.
NEWS BRIEF:
PREDATORY LENDING | CREDIT CARDS
President Obama Signs Credit Card Act of 2009
Act is intended to eliminate unfair rate increases and increase accountability for creditors and regulators.
NEWS STORY:
CLIMATE CHANGE | LEGISLATION
Effective Policies Can Limit Competitiveness Impacts of Climate Change Legislation
In the second of a two-part series, the climate change policy implications of the Pew Center's report on competitiveness impacts on US business are explored.
NEWS BRIEF:
CORPORATE SUSTAINABILITY REPORTING
Companies Are Slow to Adopt Interactive Technologies in GRI Reporting
Study by the Global Reporting Initiative finds that while most companies provide sustainability information on their web sites, access by users can be hampered by inconsistent terminology.
NEWS STORY:
CLIMATE CHANGE | LEGISLATION
How Will Climate Change Legislation Affect US Competitiveness?
Report from the Pew Center on Global Climate Change finds that a flexible cap-and-trade program can reduce emissions while protecting vulnerable industries from foreign competition. First of a two-part series.
NEWS BRIEF:
CORPORATE SOCIAL RESPONSIBILITY
Consumer Products Companies Have the Best Reputation Among US Respondents to Survey
Annual study by the Reputation Institute ranks Johnson & Johnson first in corporate reputation, while companies in financial industries suffer the sharpest declines.
NEWS BRIEF:
CORPORATE SOCIAL RESPONSIBILITY | ESG
Corporations Show Improvement on ESG Issues, but Have a Long Way to Go
Research by EIRIS finds that financial institutions score the lowest in managing their ESG risks.
NEWS BRIEF:
SHAREOWNER ACTIVISM | EXECUTIVE COMPENSATION
CalSTRS Issues Guidelines for Adoption of Executive Compensation Policies
Nation's second-largest public pension fund offers principles for the adoption of executive compensation policies, as well as recommendations for addressing issues important to shareowners.
NEWS STORY:
SHAREOWNER ACTIVISM | PROXY VOTING
Activist Shareowners Take to the Web to Challenge ExxonMobil
Web site assists investors in contacting mutual funds to express support for shareowner resolutions addressing climate change and corporate governance.
NEWS BRIEF:
Investors Support Passage of Employee Free Choice Act
In a letter to Congress, a group of institutional investors argue that passage of the bill would restore human rights in US workplaces and contribute to economic recovery.
NEWS STORY:
COMMUNITY INVESTMENT | CDFIS
NCIF Develops Tool to Measure Impact of CDFIs on Low-Income Communities
The National Community Investment Fund finds CDFIs and mission-driven community banks outperform other banks in service to underserved communities by a substantial margin.
NEWS BRIEF:
CORPORATE SOCIAL RESPONSIBILITY | CORRUPTION
CEOs Urge Action Against Corruption
Signatories assert that an implementation review mechanism is essential for ensuring the success of preventive measures and law enforcement provisions included in the UN Convention against Corruption.
NEWS BRIEF:
SUSTAINABILITY INVESTING
TD Asset Management Announces Sustainable Investing Policy for all Operations
Investment firm will incorporate ESG criteria across all investment mandates, and launches Global Sustainability Fund that includes corporate sustainability leaders.
NEWS STORY:
SOCIALLY RESPONSIBLE INVESTING | CANADA
Canadian SRI Assets Increased to $609 Billion in 2008
Report by the Social Investment Organization finds that SRI has maintained its market share of almost 20%.
NEWS BRIEF:
SHAREOWNER ACTIVISM | EXECUTIVE COMPENSATION
Shareowner Resolutions on Say on Pay Gain Widespread Support
More than 100 resolutions targeting executive compensation have been filed in 2009, and ten out of the 29 already voted on win majority support.
NEWS BRIEF:
CLIMATE CHANGE | CARBON TRADING | FORESTRY
Reforestation Plays a Growing Role in Corporate Carbon Offset Strategies
Report finds that many companies are purchasing forest carbon offset credits to reduce greenhouse gas emissions and offer carbon-neutral products and services to customers.
NEWS BRIEF:
CLIMATE CHANGE | ELECTRIC UTILITIES
Report Finds that Electric Utilities Are Unprepared for Carbon Regulation
A new report by the Carbon Disclosure Project finds that disclosure by electric utilities on greenhouse gas emissions has improved, but falls short of the demands of a low carbon economy.
NEWS STORY:
COMMUNITY INVESTING | FORECLOSURES
Congress Is Briefed on Plans to Fund Revitalization of Neighborhoods Hit by Foreclosures
NSP funding requires communities to submit action plans detailing their spending, and report by Enterprise Community Partners is the first published effort to study the data.
NEWS BRIEF:
CORPORATE SOCIAL RESPONSIBILITY | BISPHENOL A
Despite Health Risks, Packaged Food Industry Continues to Use BPA
Report by Green Century Capital Management and As You Sow finds that companies have not gone far enough in replacing BPA, and recommends timetables for its elimination.
NEWS STORY:
SHAREOWNER ACTIVISM | WATER SCARCITY
PepsiCo Agrees to Policy Respecting Human Right to Water
Shareowner advocates led by NorthStar Asset Management succeed in engagement with PepsiCo on resolution calling for adoption of water management policy.
NEWS BRIEF:
SUSTAINABLE INVESTING | CLIMATE CHANGE
Opportunities to Address Climate Change Available in all Asset Classes
The Institute for Responsible Investment publishes a handbook to help sustainable investors address risks and opportunities associated with climate change.
NEWS BRIEF:
CORPORATE SOCIAL RESPONSIBILITY | CLIMATE CHANGE
Toy Companies Are Failing to Address Climate Change
Research by Climate Counts finds that toy and children's equipment manufacturers score the lowest of all industry sectors, with eight of thirteen companies receiving scores of zero.
NEWS STORY:
SUSTAINABILITY | COWORKING
New San Francisco Coworking Space Will Benefit Social Entrepreneurs
Social innovators rent space from HUBsf as needed, and share ideas with like-minded entrepreneurs and nonprofits.
NEWS BRIEF:
CORPORATE SOCIAL RESPONSIBILITY | REPORTS
European Commission Is Urged to Mandate ESG Reporting by Corporations
Report from Eurosif recommends regulatory action to increase transparency in corporations and institutional investors, and to enhance the rights of shareowners.
NEWS STORY:
PREDATORY LENDING | CREDIT CARDS
Leading Credit Card Lenders Face Proxy Votes on Predatory Lending
ICCR members submit shareowner proposals requesting evaluations of predatory lending practices, and banks' objections are disallowed by the SEC.
NEWS BRIEF:
CORPORATE SOCIAL RESPONSIBILITY | REPORTS
2008 Sees Increases in CSR Reporting and Adherence to GRI Guidelines
CorporateRegister.com users vote Vodafone as best CSR report overall for the second year in a row, and Royal Dutch Shell for best carbon reporting.
NEWS BRIEF:
SHAREOWNER ACTIVISM | MUTUAL FUNDS | GENOCIDE
Vanguard Funds Agrees to Proxy Vote on Investing in Companies Complicit in Darfur Genocide
Shareowner action led by Investors Against Genocide proceeds to proxy ballot after Vanguard is found to have increased its holdings in PetroChina.
NEWS STORY:
COMMUNITY DEVELOPMENT FINANCE INSTITUTIONS
Rating System Helps Investors Assess Social and Financial Performances of CDFIs
In the first quarter of 2009, the CDFI Assessment and Rating System added seven CDFIs to list of 46 that it has analyzed, and it hopes to rate an additional 23 by year's end.
NEWS BRIEF:
SUSTAINABLE INVESTING | AFRICA
Sustainable Investing Fund Is Launched in Africa
The Africa Sustainability Passive Equity Fund, offered to institutional investors by Mauritius-based Sustainable Capital, will apply ESG criteria to both countries as well as companies in Africa.
NEWS STORY:
MICROFINANCE INSTITUTIONS | CLIMATE CHANGE
Microfinance Institutions Begin to Incorporate Climate Change in Development Strategies
Report from CGAP finds that MFIs are well-positioned to contribute to energy efficiency in developing countries, but recommends shift in priorities from loans to financial services that include savings.
NEWS BRIEF:
CORPORATE SOCIAL RESPONSIBILITY | INDIA
Study Finds that Largest Indian Companies Need to Improve CSR Activities and Reporting
Report by Karmayog gives lowest score to nearly half of the 1,000 largest companies in India, and recommends adoption of Global Reporting Initiative guidelines for CSR reporting.
NEWS BRIEF:
MUTUAL FUNDS|GREENHOUSE GASES
Report Alerts Investors to Carbon Footprints of Mutual Funds
A Trucost report on the carbon footprints of major mutual funds finds that sustainability and SRI funds generally outperform the mainstream, and warns investors to prepare for carbon pricing.
NEWS STORY:
SHAREOWNER ACTIVISM: CORPORATE SOCIAL RESPONSIBILITY: HUMAN TRAFFICKING
Corporate Efforts to Help Eradicate Human Trafficking and Child Sex Tourism are Insufficient
Organizations dedicated to the eradication of human trafficking and child sex tourism find that US companies are especially reluctant to take action. Second of a two-part series.
NEWS BRIEF:
CORRUPTION: CORPORATIONS: CHINA
Corruption in China Proves Difficult to Uproot, But Corporations Can Mitigate Issue in Their Supply Chains
Briefings from Ethical Corporation Institute find that China's traditional business culture contributes to problem, but government regulation and attention by corporations to supply chains help mitigate corruption.
NEWS STORY:
SHAREOWNER ACTIVISM: CORPORATE SOCIAL RESPONSIBILITY: HUMAN TRAFFICKING
Human Trafficking and Child Sex Tourism: Crimes of Global Proportions Intersect with Corporate Responsibility
Activist shareowner engagement leads to progress in corporate action against human trafficking and child sex tourism, but much work yet remains to be done, especially among US-based corporations. First of a two-part series.
NEWS BRIEF:
SHAREOWNER ACTIVISM: PROXY VOTING
As You Sow Publishes Annual Preview of Shareowner Proposals for 2009
The Foundation counts more than 100 proposals on executive compensation, and reports that health care reform has the largest increase in proposals for the second year in a row.
NEWS BRIEF:
CLIMATE CHANGE: INSURANCE INDUSTRY
Insurers Improve Response to Climate Change
Report from Ceres finds increased awareness of climate risks, and new products and offerings, but concludes that room for improvement remains.
NEWS STORY:
SUSTAINABILITY INVESTING: EMERGING MARKETS
ESG Trends in Emerging Markets Is Focus of New Study
Report from IFC and Mercer finds growth in sustainable investing in emerging markets, but notes need for improvement in such areas as active ownership.
NEWS BRIEF:
ECONOMIC CRISIS: ESG
Leading Sustainable Finance Organizations Call on G-20 to Adopt ESG Considerations
Six organizations provide recommendations for a sustainable economic recovery and implementation of environmental, social, and governance factors in financial regulations.
NEWS BRIEF:
CLIMATE CHANGE
Labor Unions and Environmental Groups Join to Endorse Climate Change Legislation
The Blue Green Alliance announces support for a cap-and-trade system and a renewable electricity standard included in proposed Waxman-Markey clean energy legislation.
NEWS STORY:
CORPORATE TRANSPARENCY: INVESTMENT RESEARCH
European Sustainability Research Association Develops Standards of Performance
The Association of Independent Corporate Sustainability and Responsibility Research releases a Voluntary Quality Standard to ensure that the work of investment research providers is transparent and has verifiable quality.
NEWS BRIEF:
SUSTAINABLE INVESTMENT
Real Estate Investors Are Encouraged to Apply Responsible Investment Principles to Property Investments
The UNEP FI Property Working Group finds that equity approaches to responsible investment can be applied to commercial property investment as well.
NEWS BRIEF:
SHAREOWNER ACTIVISM: GENOCIDE: SUDAN
TIAA-CREF Commits to Genocide-Free Investing in Sudan
Decision to engage petroleum companies whose operations support genocide in Darfur, and to divest if progress is not made, is applauded by Investors Against Genocide.
NEWS BRIEF:
CLIMATE CHANGE: PAPER PRODUCTS INDUSTRY
Report Challenges Claim of Carbon Neutral Paper Products
Environmental Paper Network recommends that paper industry focus on the production of low carbon paper products by recycling and other gains in efficiency.
NEWS STORY:
SHAREOWNER ACTIVISM: FINANCIAL INDUSTRY: TARP BANKS
TARP Banks Rebuff Shareowner Request to Create Economic Security Committees
Shareowner proposal introduced by Harrington Investments is excluded from proxy ballots by the SEC, and Bank of America and Citigroup refuse a direct request from Harrington to form a board-level committee.
NEWS BRIEF:
COMMUNITY INVESTING: COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
CDFI Fund Fast-Tracks Capital for Underserved Communities
Community Development Financial Institutions and other Community Development Entities will receive $90 million in June and another $50 million in September.
NEWS STORY:
CORPORATE SOCIAL RESPONSIBILITY
IT Companies Improve CSR Performance but Still Face Challenges
Oekom report credits improved reporting by companies for better scores in the IT sector, but warns that compliance in supply chains and environment could be undermined by economic crisis.
NEWS BRIEF:
SUSTAINABILITY INDEXES
Bi-Annual FTSE4Good Index Series Review Completed
Benchmark Index for investors that measures corporate responsibility standards adds 23 and removes 16 constituent companies.
NEWS BRIEF:
SHAREOWNER ACTIVISM: FAITH-BASED INVESTORS
Human Trafficking and Abortion Are Top Areas of Concern for Catholic Investors
Survey of institutional investors by Christian Brothers Investment Services helps guide an investment strategy that includes stock screens and shareowner activism.
NEWS STORY:
COMMUNITY INVESTMENT: GREEN BUILDING
Fixed Income Investments Support Green Building
The New Mexico Mortgage Finance Authority and Community Capital Management describe how fixed income investment help fund successful rehabilitation of buildings based on green building principles.
NEWS BRIEF:
CORPORATE SOCIAL RESPONSIBILITY
CRO Magazine Publishes List of 100 Best Corporate Citizens for 2009
Bristol Myers-Squibb tops list after failing to appear in 2008, while 50 companies tie for first in reconfigured governance category.
NEWS STORY:
CLIMATE CHANGE: CORPORATIONS
Ceres Climate Change Coalition Adds Three New Members
The Business for Innovative Climate and Energy Policy (BICEP) lauds Jackson of EPA for emissions reporting proposal and adds Gap, eBay, and Symantec to its membership.
NEWS BRIEF:
SUSTAINABLE INVESTING: STOCK INDEXES
S&P Adds Carbon Index to Its Family of Environmental Indices
Index will rely on research provided by Trucost to determine large cap US constituents of the S&P 500 with the lowest carbon footprints.
NEWS BRIEF:
SHAREOWNER ACTIVISM: GENOCIDE
Investment in PetroChina Will Be First Test Case for Vanguard's New Policy on Genocide
Investment management company promises to monitor its mutual funds for investments in companies that contribute to genocide and other crimes against humanity.
NEWS BRIEF:
CLIMATE CHANGE
EPA Proposes Mandated National Reporting of Greenhouse Gas Emissions
The proposed rule, which would mandate annual reporting from major emitters of carbon dioxide and other greenhouse gases, could lead to mandatory limits on emissions.
NEWS STORY:
CLIMATE CHANGE
Corporations Look to Copenhagen for Help in Addressing Climate Change
Report by the Economist Intelligence Unit finds gains in corporate energy efficiency, but little action on the broader impact of climate change.
NEWS BRIEF:
FINANCIAL PRODUCTS: SUSTAINABILITY: GENDER
Goal of New Index Series Is to Advance Gender Equality
Pax World and KLD launch an index series sponsored by the International Finance Corporation to increase gender empowerment.
NEWS STORY:
CLIMATE CHANGE: CORPORATE SOCIAL RESPONSIBILITY
Investors Want More Disclosure of Climate Risk Data from Corporations
CDP survey of signatory investors finds that integration of climate risk considerations into investment decisions is growing.
NEWS BRIEF:
EMISSIONS STANDARDS: AUTOMOBILE INDUSTRY
Investors Call on Auto Industry to Improve Disclosure on Emissions
The risks and opportunities for carbon reduction strategies for the automobile industry are considerable and warrant particular attention from investors.
NEWS BRIEF:
ECONOMIC CRISIS: RESPONSIBLE INVESTMENT
PRI Encourages Investors to Take More Active Ownership Role
Principles for Responsible Investment publishes eight-point plan to help institutional investors avoid the pitfalls that contributed to current economic crisis.
NEWS STORY:
CLIMATE CHANGE: WATER SCARCITY
Global Water Resources Threatened by Climate Change and Population Growth
Report finds that business is failing to address impact of water scarcity on its operations, and provides investors with questions pertaining to water risks to ask of their portfolio companies.
NEWS BRIEF:
CORPORATE GOVERNANCE: SHAREOWNER ACTIVISM
Role of Corporate Boards in Sustainability Issues Is Growing
Survey of board directors finds that as shareowner resolutions increase, more boards of directors are addressing the risks and opportunities of sustainability issues.
NEWS STORY:
ECONOMIC STIMULUS: GREEN TECHNOLOGIES: SOLAR POWER
Solar Expected to Maintain its Status as the World's Fastest-Growing Energy Technology
Decreases in cost of installation and favorable regulatory environment should protect the continued growth of solar in the US from effects of the economic crisis.
NEWS BRIEF:
CLIMATE CHANGE
Climate Change Lobbyists Pour into Washington on Behalf of Special Interests
An investigation by the Center for Public Integrity finds an estimated 2,340 lobbyists seeking to influence climate change policy, a 300% increase over five years.
NEWS BRIEF:
GREENHOUSE GAS EMISSIONS: SHIPPING INDUSTRY
Report Finds that Shipping Companies Face Financial Risks Due to Pollution Costs
Eurosif and Trucost find that investors in shipping companies are exposed to profit risks as regulatory agencies are expected to internalize environmental and health-related costs.
NEWS STORY:
ECONOMIC STIMULUS: GREEN TECHNOLOGIES
Economic Stimulus Is Expected to Spur Investment in Renewable Energy
The renewable energy industry and sustainable investors believe stimulus will provide significant investment in green energy infrastructure. Second in a two-part series.
NEWS BRIEF:
RENEWABLE ENERGY: SOLAR POWER
NRG Energy Enters Solar Field with Investment in Solar Power Plants
Investment by NRG will help eSolar build three solar power plants using concentrating solar power technology.
NEWS STORY:
COMMUNITY INVESTING: MICROFINANCE
New Guidelines to Help Investors Measure Success of Microfinance Institutions
Grameen Foundation employs data from its Progress out of Poverty Index to develop checklist of questions for investors to ask about the social benefits of microfinance.
NEWS BRIEF:
MUTUAL FUNDS: SOCIALLY RESPONSIBLE INVESTING
SRI Fund is Category King for January 2009
Eventide's Gilead Fund is designated top multi-cap growth fund by Wall Street Journal
NEWS BRIEF:
ACQUISITIONS: SUSTAINABLE INVESTMENT RESEARCH
Riskmetrics to Acquire Innovest
RiskMetrics cites expansion of research on environmental, social, and strategic governance issues as major reason for purchase.
NEWS STORY:
ECONOMIC STIMULUS: COMMUNITY INVESTING
Economic Stimulus Package Will Help Revitalize Community Investment
Community Development Financial Institutions gain $100 million in new financing with which to support small business and affordable housing. First in a two-part series.
NEWS BRIEF:
MARKETING: GREEN PRODUCTS
Consumer Demand for Green Products is Still Rising, Survey Finds
Survey by Boston Consulting Group of 9,000 consumers worldwide indicates that buying green products remains a priority despite economic downturn.
BOOK REVIEW:
BOOK REVIEW: CORPORATE SUSTAINABILITY
Book Review: The Sustainable Enterprise Report Volume 2
Second edition of report offers evidence that the economic downturn provides an opportunity to establish economic, social, and environmental considerations for competitive advantage.
NEWS BRIEF:
CORPORATE SOCIAL RESPONSIBILITY
Sustainable Corporations Outperform During Economic Crisis
Study finds that companies with commitment to sustainability have outperformed others by an average of $650 million in market capitalization.
NEWS BRIEF:
PRINCIPLES FOR RESPONSIBLE INVESTMENT: PRIVATE EQUITY
Private Equity Firms Sign on to Principles for Responsible Investment
Private Equity Council members adopt PRI framework for incorporating ESG issues into investment decision-making and ownership practices.
NEWS STORY:
SHAREOWNER ACTIVISM: INTERNET
Who Controls the Internet?
Shareowner proposals challenge Internet Service Providers for greater transparency in decisions on freedom of expression and privacy.
NEWS BRIEF:
ECONOMIC CRISIS: BANKS: SHAREOWNER ACTIVISM
TARP Banks Oppose Shareowner Efforts to Mandate Accountability
Shareowner proposal introduced by Harrington Investments would establish Board Committees on US Economic Security to consider the economic impact of bank policies.
NEWS STORY:
CORPORATIONS: CLIMATE CHANGE
New Climate Risk Profiles Assess Corporate Greenhouse Gas Emissions
ICCR and Trucost collaborate to provide credible assessments for investors to use in the reduction of climate risk in their portfolios.
NEWS BRIEF:
MUTUAL FUNDS: CARBON TRADING
First US-Traded Investment Product Seeks to Capitalize on Growing Carbon Trading Market
AirShares Fund aligns returns with European Union Allowances for carbon emissions, which account for the majority of the world's emissions trading.
NEWS BRIEF:
CORPORATE SOCIAL RESPONSIBILITY: CLIMATE CHANGE
UN Global Compact Calls on Corporations to Address Climate Change
Marking the tenth anniversary of its formation, the initiative focuses its corporate sustainability efforts on collaboration for a low-carbon economy.
NEWS STORY:
CORPORATIONS: CLIMATE CHANGE
Report on Climate Risks Targets Largest Consumer and Technology Companies
Fourth report from Ceres and RiskMetrics finds some progress in addressing the business challenges of climate change, but too many companies still ignoring the issue.
NEWS STORY:
ENVIRONMENTAL SOCIAL AND GOVERNANCE
Who Cares Wins Initiative Issues Final Report
Final report in a five-year series documents improvements in integration of ESG issues by corporations and investors, but sees much work yet to be done.
NEWS BRIEF:
CORPORATE SOCIAL RESPONSIBILITY
2009 List of Global 100 Most Sustainable Corporations in the World Unveiled at Davos
Corporate Knights and Innovest publish fifth annual list of companies best equipped to manage ESG risks and opportunities.
NEWS BRIEF:
INDIVIDUAL INVESTORS: ENVIRONMENTAL INVESTING
US Investors Optimistic About Green Investment
Online survey of individual investors finds that most expect policies of the Obama administration to encourage investment in environmental technology.
NEWS STORY:
SHAREOWNER ACTIVISM: EXECUTIVE COMPENSATION
Intel Agrees to Shareowner Vote on Executive Compensation
Endorsement adds another corporation to a growing number opting for engagement in a year when issue commands public attention.
NEWS BRIEF:
RENEWABLE ENERGY
Voluntary Purchases of Renewable Energy by Businesses Reach Record Levels in 2008
Intel and PepsiCo lead corporate efforts in voluntary market for renewable energy certified by Green-e.
NEWS STORY:
COMMUNITY INVESTING
Investors Embrace Community Development Loan Funds to Invest Safely While Earning Interest
As interest in community investing grows, CDLFs are proven vehicles for investment in affordable housing and other projects.
NEWS BRIEF:
HP Is Latest Corporation to Accept Shareowner Votes on Executive Compensation
As pressure on companies to adopt say-on-pay resolutions increases, investors count on Congressional support for mandatory Advisory Votes.
NEWS BRIEF:
CORPORATE SUSTAINABILITY REPORTING: WATER USE
Center for Sustainable Innovation Develops Tool for Measuring Sustainable Water Use
Corporate Water Gauge allows organizations to place water use in a local context for sustainability reporting.
NEWS STORY:
SHAREOWNER ACTIVISM: ECONOMIC CRISIS
Teamsters Proposal to Limit SunTrust Executive Pay excluded by SEC
Shareowner advocates criticize Commission for inconsistent decisions and drift away from mission to protect investors.
NEWS STORY:
SHAREOWNER ACTIVISM: HEALTH CARE REFORM
Health Care Reform Takes Center Stage for 2009 Proxy Season
Shareowner advocates at ICCR and other faith-based organizations detail progress in engaging corporations on the adoption of health care reform principles.
NEWS BRIEF:
AUTOMOTIVE INDUSTRIES: GREEN TECHNOLOGY
Auto Executives Commit to Green Technologies to Lead Industry Back to Profitability
Annual KPMG survey finds increased interest among auto executives in alternative fuel technologies, with a newfound focus on electric cars.
NEWS BRIEF:
BUSINESS ETHICS: SOCIAL INVESTMENT
Ethisphere Publishes List of 100 Most Influential People in Business Ethics for 2008
Honorees include several members of the social investment community.
NEWS BRIEF:
CORPORATE RESPONSIBILITY: PRINCIPLES OF RESPONSIBLE INVESTING
Investors Request High-Quality Communications on Progress
Letter to companies that have joined the United Nations Global Compact praise the reporting of some while identifying as laggards those that have not submitted COPs.
NEWS STORY:
CORPORATIONS: CLIMATE CHANGE
New Climate Risk Profiles Assess Corporate Greenhouse Gas Emissions
ICCR and Trucost collaborate to provide credible assessments for investors to use in the reduction of climate risk in their portfolios.
NEWS BRIEF:
ALTERNATIVE ENERGY: WIND
Wind Industry Lists Accomplishments for 2008
Despite the economic crisis, the American Wind Energy Association reports industry growth in 2008 and anticipates favorable climate for further growth.
NEWS BRIEF:
PLANT CONSTRUCTION: COAL: CLIMATE CHANGE
Dynegy Abandons Plans to Build Five New Coal Power Plants
Houston-based energy company has been target of Sierra Club campaign and criticism for exposing shareowners to risk.
NEWS BRIEF:
SUSTAINABLE INVESTING: BANKS
Wells Fargo Exceeds Environmental Financing Goals
Bank's progress report details $3 billion in financing for green business opportunities over a three-year period.
NEWS BRIEF:
SUSTAINABILITY: CONSUMER BEHAVIOR
Report Warns of Unsustainable Consumption
WBCSD report finds consumers willing to embrace sustainable lifestyle, but need access to products and services to do so.
NEWS STORY:
SHAREHOLDER ACTIVISM: CORPORATE DISCLOSURE
Investors Ask Obama to Improve Corporate Financial Disclosure
President-Elect is asked to return SEC to original mission of protecting investors and strengthening shareowner rights.
NEWS BRIEF:
MUTUAL FUNDS: SUSTAINABILITY INDEXES
New Mutual Fund will be First in US to Track Dow Jones Sustainability Index
Dreyfus Fund will include companies listed on Dow Jones Sustainability World Index.
NEWS BRIEF:
CORPORATE SOCIAL RESPONSIBILITY
Co-op America Names Top Corporate Scrooges
CEOs named to the list represent a range of business sectors and a diversity of social and environmental malfeasances.
BOOK REVIEW:
SUSTAINABLE INVESTING
Book Review: Investing for Change: Profit from Responsible Investment
Authors Augustin Landier and Vinay B. Nair trace the history of SRI and suggest modifications to traditional screening methods in order to increase profitability.
NEWS BRIEF:
SUSTAINABLE INVESTMENT: MUTUAL FUNDS
Calvert Announces Launch of Three New Funds
Offerings follow consolidation with Summit Mutual Funds and include a large cap fund employing a new investment strategy.
NEWS STORY:
INSTITUTIONAL INVESTORS: WATER SUSTAINABILITY
Investors Call on World's Largest Companies to Join Water Sustainability Effort
Alliance with assets of $1.5 trillion under management contributes to effort by the UN Global Compact to expand membership in the CEO Water Mandate.
BOOK REVIEW:
SUSTAINABLE INVESTMENT
Book Review: Sustainable Investing: The Art of Long Term Performance
Editors Cary Krosinsky and Nick Robins new book compiles eighteen new essays that argue sustainable investing is the key to positive long-term performance and the health of the planet.
NEWS STORY:
CHINA: WORKING CONDITIONS: NON-GOVERNMENTAL ORGANZIATIONS
US-based Verite Helps Build Coalitions to Improve Working Conditions in China
The organization's report details relationships with academics and civil society organizations to ensure fair labor practices in centers of manufacturing for export.
NEWS BRIEF:
ENVIRONMENTAL ISSUES: WATER
Report Details Risks and Opportunities Facing Water-Dependent Industries
Eurosif water report finds that increasing water scarcity results in critical issues for many businesses and offers potential solutions to alleviate crisis.
NEWS BRIEF:
ESG: INVESTMENT RESEARCH
New Global Database Will Extend ESG Investment Research
The UN's Principles for Responsible Investment plans to create a tool to help asset managers and investors incorporate ESG issues into long-term investments.
NEWS STORY:
SHAREOWNER ACTIVISM
Shareowner Advocates Find Hope Despite Troubled Economic Times
SRI community looks beyond traditional methods of corporate engagement to realize opportunities presented by the financial crisis and a new administration.
NEWS BRIEF:
CLIMATE CHANGE: FINANCIAL INDUSTRIES
Principles for Climate Change Developed for Financial Sector
Major financial institutions join with The Climate Group to promote principles of business for a low-carbon economy.
NEWS BRIEF:
MARKETING: CONSUMER BEHAVIOR
Consumers Remain Loyal to Brands that Champion Social Purpose
Study finds that even during a financial crisis, consumers are willing to pay more for brands that support social causes they believe in.
NEWS STORY:
GREENHOUSE GAS EMISSIONS: TECHNOLOGY
Report Finds that Information Technology and Communications Sector can Help Reduce Climate Change
Study of information and communication technology concludes that ICT can be utilized to reduce carbon emissions across all sectors of global economy.
NEWS BRIEF:
SUSTAINABLE INVESTMENT: DEVELOPING COUNTRIES
Business Can Take Leading Role in Alleviating Poverty
Report by WBCSD notes increasing reliance on business as a partner with government and NGOs in sustainable development in developing countries.
NEWS STORY:
CORPORATE SOCIAL RESPONSIBILITY
2008 Accountability Rating Finds More Companies Willing to Address Social and Environmental Challenges
Annual measure of corporate accountability finds telecoms developing effective CSR vision, while oil & gas sector suffers due to operational performance.
NEWS STORY:
SHAREOWNER ACTIVISM
Shareowners Prepare for the 2009 Proxy Season
SRI leaders reflect on successful shareowner advocacy programs while preparing for increased engagement with corporations in new proxy season.
NEWS BRIEF:
CLIMATE CHANGE
Ceres Joins Forces with Five Leading US Companies in New Climate Change Coalition
Business for Innovative Climate and Energy Policy (BICEP) will advocate for aggressive passage of climate and energy legislation.
NEWS BRIEF:
STOCK INDEXES: GREEN COMPANIES
New Index Will Track Pure-Play Environmental Companies
The Global Environment 60 Index will be available to investors through an exchange-traded fund offered by Claymore Investments.
NEWS STORY:
MUTUAL FUNDS: FINANCIAL CRISIS
SRI Funds Post Losses, But Hold Their Own in Relative Performance
While not immune from the battering endured by investors of all stripes, many SRI funds have outperformed mainstream funds on a relative basis this year.
NEWS BRIEF:
CORPORATE RESPONSIBILITY
Survey Finds That Corporate Responsibility Professionals Greet an Obama Administration with Optimism
Conference attendees believe that better corporate responsibility could have lessened severity of fiscal crisis, and expect increased regulation of CR issues.
NEWS STORY:
REPORT: SHAREHOLDER ACTIVISM: CORPORATE TRANSPARENCY
Report Finds That Most Corporations Fail to Address Risks That Threaten Long-Term Profitability
EIRIS report on responsible business practices finds insufficient ESG risk management and inadequate disclosure and advocates PRI involvement for responsible investors.
NEWS BRIEF:
MUTUAL FUNDS: SHAREHOLDER ACTIVISM: ESG
Report on UK Fund Managers Finds Room for Improvement on ESG Issues
FairPensions surveys thirty of the largest asset managers and finds relatively strong performance in governance but insufficient attention to climate change and social issues.
NEWS BRIEF:
CORPORATE TRANSPARENCY: CLIMATE CHANGE
Institutional Investors Call on SEC to Require Climate Change Disclosure
Fourteen large institutional investors join in request for improved ESG reporting as goal of SEC's 21st Century Disclosure Initiative.
NEWS STORY:
WORKPLACE DIVERSITY: CORPORATE TRANSPARENCY
Corporate Glass Ceiling for Women and Minorities is yet to be Shattered
Reports on diversity in the workplace find women and minorities in executive positions remain in short supply, and corporations resistant to sharing data on diversity practices.
NEWS STORY:
CLIMATE CHANGE: ECONOMIC CRISIS
Climate Change Report Finds Silver Lining for Investors in Renewable Energy
Deutsche Bank report on Climate Change emphasizes necessity of carbon pricing, while finding in the economic crisis opportunities for investment in clean technologies.
NEWS BRIEF:
UNEP Launches Green Economy Initiative as Green New Deal
United Nations program warns against retreat from sustainability and proposes global economy based on environment and natural infrastructure.
NEWS STORY:
EXECUTIVE COMPENSATION: SHAREHOLDER ACTIVISM: MUTUAL FUNDS
Executive Pay Comes Under Fire from Activist Shareholders for Contributing to Financial Crisis
Study of shareholder voting by mutual funds shows SRI funds leading the way to increased shareholder activism on matter of executive compensation.
NEWS STORY:
ECONOMIC CRISIS: COMMUNITY REINVESTMENT ACT
Studies Rebuff Charges of CRA Complicity in Financial Crisis
Attempts by some conservatives to link the Community Reinvestment Act to predatory mortgage lending are shown to be misleading and often false.
NEWS STORY:
ECONOMIC CRISIS: SUSTAINABLE INVESTING: GREEN COMPANIES
Green Stocks Expected to Rebound in Wake of Financial Crisis
Green stocks are down with rest of market as investor confidence wanes, but new tax credits and the need to address climate change point to likelihood of strong recovery.
NEWS STORY:
ECONOMIC CRISIS: SUSTAINABLE INVESTING: RESPONSIBLE LENDING
Sustainable Investment Strategies Earn Respect in Aftermath of the Financial Crisis
Having sounded warnings for years about the causes of the economic crisis, sustainable and responsible investment may be embraced by more mainstream investors.
NEWS STORY:
INVESTING: CANDIDATES: ENERGY POLICY
Investors Focus on Presidential Candidates' Differences on Future of US Energy Consumption
While both candidates pay homage to energy independence and renewable resources, major differences emerge for responsible investors to consider.
NEWS BRIEF:
MUTUAL FUNDS: RESPONSIBLE INVESTING
Wells Fargo Launches Its First Sustainability Fund
New mutual fund from Wells Fargo invests in large cap companies that meet SRI screening criteria.
NEWS BRIEF:
RESPONSIBLE INVESTING: RESEARCH
Investor Initiatives Join Forces to Call for ESG Considerations in Investment Research
UN-backed Principles for Responsible Investment and Enhanced Analytics Initiative have more than $15 trillion in assets and a shared commitment to better research.
NEWS BRIEF:
MUTUAL FUNDS: RESPONSIBLE INVESTING
Calvert Adds Global Water Fund to Series of SRI Portfolios
Anticipating need for $1 trillion investments annually, sustainable investors see water as key opportunity globally.
NEWS STORY:
CORPORATE RESPONSIBILITY: CLIMATE CHANGE:
Carbon Disclosure Project Publishes Sixth in Annual Series Detailing Corporate Emissions
Investors network elicits data from corporations globally and finds improved focus on risks and opportunities of climate change.
NEWS BRIEF:
SUSTAINABLE INVESTMENT
European SRI Market Reaches $3.7 Trillion in 2007
Eurosif study finds 102% increase in SRI assets since 2005 fueled by increasing relevance of environmental, social and governance issues for institutional investors and high net worth individuals.
NEWS STORY:
OPPORTUNITY FINANCE
Book Review-Good Policies For a Great America, published by Opportunity Finance Network
A new collection of essays on the impact and possibilities of the opportunity finance industry is a guidebook for the next President and Congress.
NEWS STORY:
PREDATORY LENDING: SHAREHOLDER ENGAGEMENT
SRI Advocates Call for Help Against Foreclosures and Regulation of Wall Street
Responsible investors have led the fight against predatory lending for nearly 10 years with both successes and failures. Advocates see opportunity in current crisis to put end to practice. Last of a three-part series.
NEWS BRIEF:
SHAREHOLDER ENGAGEMENT: SUSTAINABILITY
Sustainable Endowments Institute Releases College Sustainability Report Card
Annual survey encourages commitment to sustainability, including investment priorities, shareholder engagement, and endowment transparency by colleges with largest endowments.
NEWS BRIEF:
COMMUNITY INVESTMENT
Calvert Foundation Receives $10 Million Investment from Merrill Lynch
Investment in foundation's Community Investment Note is intended to support women entrepreneurs in developing countries.
NEWS STORY:
COMMUNITY INVESTMENT
CDFIs Offer Responsible Alternative to Predatory Lending
Community development financial institutions provide housing loans to underserved markets, yet maintain profitability and low net charge-offs. Part II of a three-part series on the credit crisis.
NEWS STORY:
FINANCIAL CRISIS: PREDATORY LENDING
Effects of Predatory Lending Lead to Economic Crisis
Proposed $700 billion bailout by Treasury Department offers measure of relief to roiling markets while raising questions of fairness. Part I of a three-part series.
NEWS BRIEF:
SUSTAINABILITY INDEXES
FTSE4Good Index Series Updates Component Companies and Eligibility Components
FTSE Group added 36 companies and removed 12 in semi-annual update of its leading SRI index.
NEWS BRIEF:
SUSTAINABILITY INDEXES
Dow Jones Sustainability Index Updated
Dow Jones Sustainability World Index lists 320 corporate sustainability leaders, up from 312 in 2007.
NEWS STORY:
GREEN ENERGY:GEOTHERMAL
Investors Take Note of Clean and Sustainable Geothermal Energy Production
New technologies such as EGS offer potential for large-scale electricity production and lead to high-visibility investments.
NEWS STORY:
TRANSPARENCY: ACCOUNTING STANDARDS
Investors Push Companies For Greater Disclosure on Lawsuits
A proposed FASB rule change would require that loss contingencies related litigation be disclosed to investors.
NEWS STORY:
SUSTAINABILITY INVESTMENT REPORT: HIGH NET WORTH INVESTORS
Eurosif Study Finds Increasing Investment in Sustainability by Wealthy Individuals
First-ever study addresses sustainable investment by high net worth individuals.
NEWS STORY:
SOCIAL INVESTMENT REPORT
ESG Criteria Creeping Slowly into Mainstream Investing
New report lays out the five hurdles ESG investing has to clear before it can be incorporated on a large scale.
NEWS STORY:
CORPORATE BOARDS: GOVERNANCE: CORPORATE SOCIAL RESPONSIBILITY
Getting on Board with Corporate Social Responsibility
Corporate boards can and should influence their companies' social and environmental performances finds a new report.
NEWS STORY:
SUSTAINABILITY REPORTING
The Assurance Industry Grows in League with ESG Reporting
With more companies publishing sustainability reports, more third parties are stepping in to validate the information in CSR reports.
NEWS STORY:
SUSTAINABILITY RATING
Social Platform for Socially Responsible Investors
The SRI community has a new way to share information about what companies are or aren't doing on social, environmental, and governance issues.
NEWS STORY:
ALTERNATIVE ENERGY
It Takes a Village to Raise a Turbine: Making the Case for Community-Owned Windpower
Newly public wind development company is bringing energy ownership and economic improvement to communities.
NEWS STORY:
GREEN INVESTING: WATER
Investing in Water: Bringing Water to the Sea
Whether you wade into investing in water or dive in head first, the water industry offers investors many opportunities.
NEWS STORY:
COMMUNITY INVESTING;HOUSING
Investing to Empower Homeowners
The Calvert Foundation partners with Habitat for Humanity to offer investors a vehicle to drive homeownership while also receiving a financial return.
INTERVIEW:
Sunshine is the Best Disinfectant: Shareholder Activists Promote Corporate Transparency
SocialFunds writer Bill Baue speaks with Sanford Lewis of the Investor Environmental Health Network on his shareholder activism promoting corporate disclosure
NEWS STORY:
GREEN SECTORS
The Very Rich Green Their Portfolios
With European and Middle Eastern investors leading the way, high-net-worth investors are putting their money into green technologies and alternative energy sources.
NEWS STORY:
SCREENING; SUSTAINABILITY
Green Fast Food: Really Here or a Green Dream?
The fast food industry is seeing a growing demand for environmental sustainability. How can investors, consumers, and other stakeholders know which restaurants are truly embracing sustainable development and which are only greenwashing their practices?
NEWS STORY:
RENEWABLE ENERGY:INSTITUTIONAL INVESTORS
Renewable Energy Wows World Investors
The United Nations Environmental Program reports a new record in sustainable energy investments in 2007 with more than $148 billion invested globally.
NEWS STORY:
INSITUTIONAL INVESTOR MANAGEMENT STRAGETIES
Mainstream Fund Managers Vary Widely on Social Responsibility
Even as more fund managers accept the impact of environmental, social, and corporate governance issues on performance, the application of responsible investment practices is hit or miss with most mainstream firms.
INTERVIEW:
Bob Monks: ExxonMobil Exemplifies Corpocracy
SocialFunds writers Bill Baue and Francesca Rheannon interview corporate governance advocate Bob Monks about his shareholder activism at ExxonMobil and his new book, Corpocracy.
INTERVIEW:
Shelley Alpern on How Tar Sands Perpetuate Petro-Addiction
SocialFunds writer Bill Baue speaks with Shelley Alpern of Trillium Asset Management about its shareholder activism on oil company exploitation of tar sands.
NEWS STORY:
GREEN COMPANIES
The Sunny Side of the Street: Investing in Solar
More investors are seeing the benefits of buying solar stocks, whether to diversify portfolios or to champion an energy movement.
NEWS STORY:
CORPORATE GOVERNANCE
Principled Companies Praised
Ethisphere Magazine publishes its second annual list of the World's Most Ethical Companies.
NEWS STORY:
SHAREHOLDER ACTIVISM: HUMAN RIGHTS
Investors Support UN Business and Human Rights Mandate
Coalition of socially responsible investors sends a letter to the United Nations Human Rights Council supporting businesses' responsibility for human rights.
NEWS STORY:
SUSTAINABILITY
Envisioning the Sustainable Supply Chain
Innovative collaborations between suppliers, retailers and consumers need to be forged so future supply chains support businesses and the environment.
NEWS STORY:
SHAREHOLDER ACTIVISM
Executive Pay Weighs Heavy with Shareholders
With more than 90 "say on pay" resolutions this year, shareholders continue to push for advisory votes on executive compensation.
INTERVIEW:
STAKEHOLDER ENGAGEMENT
Michael Conroy on Activist Campaigns and the Certification Revolution
SocialFunds writer Bill Baue speaks with Michael Conroy about his new book, Branded! How the “Certification Revolution” is Transforming Global Companies
NEWS STORY:
CLIMATE CHANGE:CORPORATE RESPONSIBLITY
Large UK Companies Put Their Best Foot Forward
New study of the FTSE 100 finds most companies, but not all, are improving their performance on environmental, social and governance issues.
NEWS STORY:
SHAREHOLDER ACTIVISM: EXECUTIVE COMPENSATION
Executive Compensation Consultants: The Next Battlefield for Say on Pay
Investors ask the SEC to mandate disclosure of a company's use of executive compensation consultants and if the consultants are used in other areas of the business as well.
NEWS STORY:
CLIMATE CHANGE
Will 2008 Be the Year Congress Acts on Climate Change?
Institutional investors send a message to Congress that action on climate change policy is a business imperative.
NEWS STORY:
LABOR;SUPPLY CHAINS
Disney and McDonald's Take Steps to Protect Global Labor
In partnership with prominent stakeholders, the two companies strive to improve working conditions in factories overseas while new data shows an uptick in companies monitoring suppliers' labor practices.
NEWS STORY:
SHAREHOLDER ACTIVISM
Proxy Voting Made Painless
A new website helps individual investors better understand proxy voting.
NEWS STORY:
SUPPLY CHAIN,CLIMATE CHANGE
Tracking Suppliers' Carbon Footprints
The Carbon Disclosure Project reports on the carbon emissions of some of the world's largest corporations' supply chains.
NEWS STORY:
The Toxic 100: New Report on Polluting Companies Hopes to Empower Communities and Shareholders
Index of top corporate air polluters updated in new report from researchers at University of Massachusetts.
INTERVIEW:
Abolishing Child Labor on West African Cocoa Farms
Mil Niepold of Verité on the International Cocoa Verification Board and Bama Athreya of the International Labor Rights Forum on the Commitment to Ethical Cocoa Sourcing.
NEWS STORY:
SOLAR ENERGY,PERSONAL FINANCE
Sunny Days for New Solar Index and ETF
Claymore Securities launches new ETF based on Melvin & Company's Global Solar Energy Index.
NEWS STORY:
CLIMATE CHANGE, SHAREHOLDER ACTIVISM
Climate Change Resolutions Picking Up Heat
A new report from Ceres shows mutual funds are starting to move away from voting against climate change resolutions, to not voting on them at all.
NEWS STORY:
SHAREHOLDER ACTIVISM,CLIMATE CHANGE
Ford Establishes Greenhouse Gas Reduction Plan
Shareholders withdraw resolutions at Ford after the carmaker agrees to release its plans on how it will decrease greenhouse gas emissions.
NEWS STORY:
SUPPLY CHAIN, CORPORATE RESPONSIBILITY
Transparent Supply Chain Sends A Clear Message
Hewlett-Packard recently released a list of its largest suppliers in hopes of increasing accountability from factory floors to consumers' front doors.
NEWS STORY:
MUTUAL FUNDS, GREEN INVESTING
New Fund Invests in Tomorrow's Green Stars
ThinkCapital launches a green growth fund that focuses on sustainable companies.
NEWS STORY:
SHAREHOLDER ACTIVISM
Do Your Proxy Votes Really Count?
A new report examines how boards of directors respond to shareholder concerns by adopting or ignoring non-binding shareholder proposals.
NEWS STORY:
PERSONAL FINANCE, MUTUAL FUNDS
Three New SRI Funds from Pax World
Sustainable investing pioneer Pax World adds Global Green, International, and Small Cap Funds to its SRI family of funds.
INTERVIEW:
SCREENING STRATEGIES
Are Alcohol Screens Outdated?
Social investors have used exclusionary alcohol screens for decades. Is it time to reconsider this strategy?
INTERVIEW:
SHAREOWNER ADVOCACY
ICCR Defines the Past, Present, and Future of Shareowner Activism
Interfaith Center on Corporate Responsibility Executive Director Laura Berry speaks with SocialFunds.com about transformative changes in shareowner activism.
NEWS STORY:
ENERGY,SHAREHOLDER ACTIVISM
New Coal Plants: At What Cost?
Uncertainties abound around the 100-plus proposed US coal-burning power plants contends a report from the Interfaith Center on Corporate Responsibility.
NEWS STORY:
CLEAN ENERGY, CLEAN TECH
New Energy Technologies Entice Investors
A report from Clean Edge looks at developments in the clean energy markets and forecasts clean energy sectors will continue their rapid rate of expansion.
NEWS STORY:
SCREENING
B Corporations: Verified Sustainability
B Labs takes the guesswork out of which companies are actually working for the future.
NEWS STORY:
PERSONAL FINANCE,SCREENING
EarthFolio Screens the Big SRI Picture
New investment site offers fully managed SRI portfolios for every type of investor, from timid to tenacious.
NEWS STORY:
SCREENING,SHAREHOLDER ACTIVISM,COMMUNITY INVESTING
SRI Assets Surge Ahead
New socially responsible investing study reports one dollar out of every nine dollars under professional management is invested responsibly.
INTERVIEW:
SHAREHOLDER ADVOCACY: HUMAN RIGHTS
Shareholder Activists Try New Tactic in Divestment Campaign
Activists are bringing resolutions to shareholder meetings of mutual funds in a bid to widen pressure on companies doing business with the Sudanese government.
NEWS STORY:
CORPORATE RESPONSIBILITY
Measuring Companies with a Ruler of Responsibility
With 21 return businesses from the 2007 list, CRO's 100 Best Corporate Citizens 2008 ranks large-cap companies' corporate responsibility.
NEWS STORY:
CLIMATE CHANGE
Fighting Climate Change, State by State
A core group of state treasurers and controllers are moving their investments into environmentally friendly and clean tech funds, while thinking big about climate change.
NEWS STORY:
MICROFINANCE
MicroPlace: Microfinance for the Masses
US investors with as little as $100 can help fight global poverty at eBay owned MicroPlace.
NEWS STORY:
CLIMATE CHANGE; SHAREHOLDER ACTIVISM
Institutional Investors Plan Long-term for Climate Change
Summit at the UN unveils an action plan for addressing climate change risks and opportunities.
NEWS STORY:
CLIMATE CHANGE: FOUNDATIONS
Foundations Move Toward Mission Related Investing, One Foundation at a Time
Climate change issues may push foundations to examine their portfolios and proxy voting policies.
NEWS STORY:
CLIMATE CHANGE: BANKING SECTOR
Three Major Banks Sign The Carbon Principles
With the help of environmental groups and power companies, Citi, JPMorgan Chase and Morgan Stanley outline carbon risk management for banks.
NEWS STORY:
RESPONSIBLE PROPERTY INVESTING
Making a Real Difference with Real Estate
The Responsible Property Investment movement gathers momentum with the help of the Responsible Property Investment Center and the backing of UNEP FI.
NEWS STORY:
SUSTAINABILITY
Yearbook Presents Sustainability Trends and Leaders
SAM and PricewaterhouseCoopers offer insights into the sustainability efforts of cutting-edge companies.
INTERVIEW:
ENVIRONMENT: BUSINESS TRENDS
Joel Makower on the GreenBiz.com State of Green Business 2008 Report
GreenBiz founder talks about the inaugural report, which surveys the top 10 green business stories of 2007 and introduces the GreenBiz Index.
NEWS STORY:
ALTERNATIVE ENERGY: PERSONAL FINANCE
Growing Interest In Green Investing
New research shows that individual investors think the environment is hot, with solar energy an important investment opportunity.
NEWS STORY:
CORPORATE CITIZENSHIP
New Survey Uncovers Discrepancies on Corporate Citizenship Issues
There is gap between what executives say on corporate citizenship and what their corporations actually do, finds a survey of over 750 executives.
NEWS STORY:
INDEXES
New Index Contains Companies that Support Stewardship
Index leader launches first index series based on the Dharmic religions.
NEWS STORY:
SHAREHOLDER ACTIVISM
Supreme Court Rules on Naming Secondary Actors in Fraud Cases
In a ruling last week, the Supreme Court laid out what businesses can be held liable under current securities fraud laws.
NEWS STORY:
PERSONAL FINANCE; MUTUAL FUNDS
Social Investment Options on the Rise
A flurry of new socially responsible mutual funds and products makes it easier then ever to invest in a double bottom line.
NEWS STORY:
CLIMATE CHANGE: BANKING
Are Banks Getting Caught With Their Umbrellas Down?
A new report from the RiskMetrics Group ranks 40 of the world's largest banks responses to climate change risks and possibilities.
NEWS STORY:
COMMUNITY INVESTMENT: MICROFINANCE
Microfinance: Catch the Swelling SRI Wave
The microfinance sector offers socially responsible investors a growing arena to create positive social and financial growth according to a new Deutche Bank study.
NEWS STORY:
PERSONAL FINANCE
Top Five Socially Responsible Investing News Stories of 2007
New alternative energy and green funds fuel expansion of socially responsible investing; climate change is pushed to the forefront; community development organizations flourish despite the subprime mortgage debacle; consumers demand healthy products and work environments; and SEC limits shareholder rights.
BOOK REVIEW:
PRODUCT RESPONSIBILITY
Exposed: The Toxic Chemistry of Everyday Products
The United States is no longer setting the agenda for manufacturers’ standards and American consumers are paying the price with their health.
NEWS STORY:
PERSONAL FINANCE
Whistling Past the Graveyard—Socially Responsible Investing and the Financial Crisis
SRI thought leaders analyze the potential impacts of the widespread economic downturn caused by the subprime meltdown and deflating dollar.
NEWS STORY:
WORKPLACE
Screening for Satisfaction
The 2007 Moskowitz Prize for Socially Responsible Investing was awarded to a study that shows higher employee satisfaction has historically correlated to higher stock prices.
NEWS STORY:
COMMUNITY INVESTMENT
Buying and Selling Loans for the Good of Communities
The Community Reinvestment Fund USA offers investors a way to help keep capital flowing into community development organizations.
NEWS STORY:
FINANCIAL PRODUCTS
Socially Responsible Investing Branches Out Over Asset Classes
A handbook published by Boston College's Institute for Responsible Investment outlines how managers can diversify socially responsible investments.
NEWS STORY:
COMMUNITY INVESTMENT
Giving to the Givers: Honoring Community Development Organizations
The Wachovia NEXT Awards for Opportunity Finance names ACCION Texas and the Latino Community Credit Union for its 2007 $8.25 million prize.
NEWS STORY:
ENVIRONMENT: CLIMATE CHANGE
Burning Bunker Fuel: The Shipping Industry's Dirty, Not-So-Secret Shame
Friends of the Earth is extremely concerned about the greenhouse gases and other pollutants ships spew into the atmosphere. The UN agency working on the issue stands behind the shipping industry's efforts to comply with international protocols.
NEWS STORY:
SHAREOWNER ADVOCACY
SEC Sacrifices Shareholder Rights to Achieve Temporary Certainty
Instead of reaffirming shareholder rights to file resolutions to nominate directors, the SEC cites uncertainty as a rationale for stripping these rights.
NEWS STORY:
Giving the Gift of Gore? Video Game Buyers Beware
ICCR works to educate video game buyers on video games ratings and works with retailers to keep mature and violent video games out of children's hands.
NEWS STORY:
Equalizing the Economic Playing and Farming Fields
Equity Trust invests in farms, non-profits and communities, helping people take charge of their economic futures.
NEWS STORY:
Jolly Green Giant: Google Gives the Green Light to Alternative Energy
Google promises millions of dollars to create inexpensive renewable energy.
NEWS STORY:
Sustainability Issues All Over the Map at Large Cap Companies
An extensive study from RiskMetrics shows sustainability governance among companies varies widely from country to country, and from sector to sector.
NEWS STORY:
Environmental, Social and Governance Standards: Glass Half-Empty or Half-Full?
The spread of voluntary and mandatory ESG disclosure and performance standards for business raises the question, how robust is implementation and enforcement?
NEWS STORY:
Taking the Pulse of the Electric and Natural Gas Utilities Sector
KLD's newest report provides investors with insight on how US and European utilities are dealing with environmental and societal concerns.
NEWS STORY:
Consumers Demand Companies Walk Their Green Talk
The growing number of consumers who identify themselves as "conscious" creates more opportunities for sustainable companies.
NEWS STORY:
Wal-Mart's First Sustainability Report: Just a Gesture or a Just Account?
Many call the biggest retailer's sustainability report a good first step on a long road.
NEWS STORY:
Launch of Five Climate Change Funds May Enrich Investors, But Won't Save the World
Deutsche Bank, F&C, HSBC, Schroders, and Virgin Money launch climate funds, a trend that validates the role of finance in addressing--though not solving--global warming.
NEWS STORY:
Making Toys is Not Child's Play
A group of shareholders have come together to demand safer working conditions for workers along the toy supply chain.
NEWS STORY:
Environment
Growing Up Green: Winslow Offers New Mid-Cap Green Mutual Fund
As the green market place expands, Winslow launches a mutual fund to capitalize on middle-sized growth companies that offer green solutions.
NEWS STORY:
CEOs Add ESG Issues to Business Blueprints
A report from McKinsey & Company finds that more CEOs are including environmental, social, and governance issues in core strategies.
NEWS STORY:
Good Mortgages Still Going to Good People
Community development financial institutions and their customers across the country are disproving the idea that low-income people are mortgage risks.
BOOK REVIEW:
Book Review: The Clean Tech Revolution
A new book on investing in green technology looks at new and expected developments that hold out promise for big returns over the coming decades.
NEWS STORY:
Green Financial Products Take Root in North America
A new report commissioned by UNEP FI lists green financial services and products as it makes the case for green banking's environmental, social, and economic benefits.
NEWS STORY:
Are Colleges Only Green Skin Deep?
The Sustainability Report Card 2008 examines colleges and universities dedication to sustainability, on campuses and in endowment portfolios.
NEWS STORY:
Connecting the Dots Between Climate Change, Companies, and Financial Performance
Laying the groundwork for new investment products, Innovest releases the first study relating how companies manage climate change risk to their financial performance.
NEWS STORY:
Corporate Operations in Burma Fuel Human Rights Abuses, Say Shareowner Activists
Shareowner letters to Chevron and Total criticize the piping of revenues to the Burmese regime, while the Norwegian Pension Fund defends its decision not to divest from Total.
NEWS STORY:
Engaged Employees Equal Increased Earnings
A recent study by Towers Perrin shows employee engagement and financial performance are intertwined and outlines how companies can help employees become engaged.
NEWS STORY:
Risking the Weather: The Insurance Sector Faces Climate Change
A new report sponsored by Ceres and written by Evan Mills, one of the recipients of the 2007 Nobel Peace Prize with Al Gore, highlights new products offered by the insurance sector in response to the changing climate.
NEWS STORY:
Green Angels: Venture and Private Equity Capitalists Help Sprout a New Generation of Environmentally Friendly Companies
Private investors and high-net worth individuals are making a difference--in hopes of making a profit--by actively recruiting start-up and middle-sized companies dedicated to the environment and society.
NEWS STORY:
Emissions Trading Commodifies Carbon, But Does It Really Help Solve Climate Change?
Proponents of carbon trading see markets as the best mechanism for reducing emissions, while critics characterize carbon trading as a devil's bargain that steers profits to polluters.
NEWS STORY:
"Living" Companies Perform Better
Corporations that care about people more than things are more sustainable and profitable, puts forth author and financial counselor Jay Bragdon.
NEWS STORY:
Working for the Earth: Green Companies and Green Jobs Attract Employees
New research shows that employees want to work at green companies and are happiest at companies with solid corporate social responsibility programs in place.
NEWS STORY:
Investors, States, and Activists Petition Securities and Exchange Commission To Mandate Climate Risk Disclosure
Twenty-two petitioners representing investment managers, state officials and environmental groups recently filed a petition with the Securities and Exchange Commission to improve reporting by companies on the financial impact of climate change.
NEWS STORY:
New Pax World Value Fund Follows "Contrarian Value" Strategy
Pax World's new Fund travels the globe looking for sustainable, yet undervalued companies.
NEWS STORY:
KLD's New Index Finds Sustainable Companies the World Over
KLD launches a Global Sustainability Index Series to benchmark top companies in all sectors across Asia Pacific, Europe and North America.
NEWS STORY:
Ardour Global Index Offers Unique Alternative Energy Universe
Ardour Global Index adds new companies in quarterly rebalancing, including US manufacturer Beacon Power.
NEWS STORY:
Contracting Human Rights? Ruggie Teams with IFC on Study
Empirical research conducted by John Ruggie and the International Finance Corporation examines if foreign investment contract clauses enable human rights violations.
NEWS STORY:
Companies, Carbon and Climate Change: The Carbon Disclosure Project Issues its 5th Global Corporate Climate Change Report
More companies are moving from simple carbon awareness to carbon action, but further work still needs to be done.
NEWS STORY:
Big Bosses Embrace Corporate Responsibility
A new survey of executives finds many companies are increasing their spending on environmental, social, and governance issues, in spite of a decline in business confidence.
NEWS STORY:
Canada is Coming Clean: First Canadian Global Clean Energy Fund Launched
Criterion Investments has announced its Global Energy Fund, reflecting a growing enthusiasm for clean energy by investors, companies and governments.
NEWS STORY:
Where in the World is Corporate Responsibility?
EIRIS' new report "The State of Responsible Business" details growing corporate responsibility in businesses worldwide.
NEWS STORY:
Excessive CEO Compensation Hurting US Companies and Society
A new report claims that excessive executive compensation in the US is taking a staggering economic and social toll on American society, threatening leadership in the business, government, and nonprofit sectors and creating instability in the economy.
NEWS STORY:
Businesses and Water Shortages: A Drought of Risk Management
The Marsh Center for Risk Insights' new survey reports that although most businesses are aware of the risks of water shortages, most businesses don't have a risk management plan in place.
NEWS STORY:
The Subprime Meltdown and SRI: Engage, Avoid, Predict
Shareowner activists engaged banks on predatory lending long before the subprime crisis climaxed, and SRI research predicted the meltdown in time to avoid some impacts.
NEWS STORY:
17th and Jackson: Community Development in Action, Turning a Vacant Lot into Affordable Housing and More
Non-traditional financing, including an investment by Enterprise Community Investment, funds a green multi-use building in Seattle's Central Area Neighborhood.
NEWS STORY:
Shareholder Activists Turn Up Heat on the SEC
The Social Investment Forum and the Interfaith Center on Corporate Responsibility launch a website as part of a campaign to garner support against SEC's proposals limiting shareholder rights.
NEWS STORY:
Leave Only Footprints: Measuring and Managing Corporate Carbon Emissions
Corporate carbon footprinting is on the rise, but so too is the number of footprint methodologies, challenging companies and investors to discern the best options. Part two of a two-part article.
NEWS STORY:
Green Outsourcing: Companies Demanding More Environmentally Sound Suppliers
Brown-Wilson Group's newest "Black Book of Outsourcing" reports that businesses are including more environmental factors when choosing suppliers.
NEWS STORY:
JPMorgan Chase Committed to Helping Low- and Moderate-income Communities
Reporting in its third year, Chase is on target to invest $800 billion over ten years to benefit low- and middle-income people and neighborhoods.
NEWS STORY:
Fiddling While The Planet Burns: Mainstream Investment Funds Blinkered To Climate Risk
Part one of a two-part article looks at the lack of climate risk calculations by UK fund managers. Part two will examine some new tools for assessing climate risks to investments.
BOOK REVIEW:
Book Review-World Inc: How the Growing Power of Business is Revolutionizing Profits, People and the Future of Both
Author Bruce Piasecki argues that better products will help make a better world as companies face the "S" frontier.
NEWS STORY:
To Avoid Risk of Alien Tort Claims Act Cases, Companies Must Improve Human Rights
The first-ever corporate ATCA verdict of not guilty does not diminish the ongoing liabilities companies face in US courts for human rights violations committed overseas.
NEWS STORY:
A Win for Generic Drugs: Indian Court Rules Against Drug Maker Novartis
In a test case for drug patents in developing nations, Novartis loses an attempt to challenge an Indian patent provision.
NEWS STORY:
Jitters About Regulatory Outlook Rile Confidence in Coal Mining Stocks
Growing political momentum for enacting state and national laws to reduce CO2 emissions is raising worries among investors of the long term viability of the coal industry.
NEWS STORY:
Proxy Advisors Come Out Clean
A report from the Government Accountability Office finds that the largest proxy advisor ISS and other advisor firms disclose potential conflicts of interest.
NEWS STORY:
Merrill Lynch Offers New Energy Efficiency Index
Merrill Lynch expands its line of "green" indexes with a new product that tracks the growing movement to reduce energy costs and CO2 emissions.
BOOK REVIEW:
Book Review-A Billion Bootstraps: Microcredit, Barefoot Banking and the Business Solution for Ending Poverty
Phil Smith and Eric Thurman offer a primer on microcredit for businesspeople who want the best bang for their charitable bucks.
NEWS STORY:
Many Sustainability Reports Upbeat, Ignoring Climate Change Risks
A new study from GRI and KPMG on sustainability reports notes that companies highlight new business opportunities created by climate change and shy away from risks associated with climate change.
NEWS STORY:
SEC Chair Cox Votes For Two Opposing Proxy Access Proposals--Both May Curtail Shareowner Rights
Republican commissioners support a proposal barring shareowners from nominating directors; Democrats support one allowing it, though it introduced other reductions in shareowner power.
NEWS STORY:
Executives and the Environment: Looking Back at Proxy Season 2007
With the 2007 proxy season over, shareholders saw a jump in the number of socially responsible proposals, with support growing for climate change proposals and accountability for executive pay.
NEWS STORY:
Twenty Diverse Companies Make the Sustainability Cut
With some help from KLD, SustainableBusiness.com releases their 6th annual Sustainable Business 20 List: The World's Top Sustainable Stocks.
NEWS STORY:
BSR Proposes Going Beyond Monitoring to Achieve Truly Sustainable Supply Chains
The new report from Business for Social Responsibility posits a four-pronged vision for shifting supply chain management from a surveillance model to a comprehensive, proactive solution.
NEWS STORY:
One and Two Percent Allocations Add Up for Social and Community Development
TIAA-CREF allocates 2% of its Social Choice account for proactive social investments and the Social Investment Forum and Co-op America's 1% or More for Community campaign aims to double the amount invested in community development.
NEWS STORY:
Helping Close the Capital Gap in Africa: Two Big Investments in African Microfinance
More than half of all South Africans still have no access to banking reports Shared Interest, a non-profit investment fund that guarantees bank loans for South Africa's poorest communities. Many Africans suffer from lack of available capital, where only 7 million of Africa's estimated 940 million people had access to microcredit in 2005, according to the State of Microcredit Summit Campaign Report 2006.
NEWS STORY:
Sustainability Picks Up Where Supply and Demand Meet
Both investors and companies are working on sustainability issues as new reports by UN PRI and Goldman Sachs show ESG issues are gaining momentum.
BOOK REVIEW:
Book Review--Ethical Markets: Growing the Green Economy
Author Hazel Henderson's exhaustive survey of the sustainable business landscape serves as a perfect primer on green economics and tracks lesser-known trends and developments.
NEWS STORY:
Selling As A Clear Message: Investors Rid Their Portfolios Of Companies With Ties To Sudan
Claymore/KLD offers the First Sudan Free ETF for retail investors while the SEC's new list of companies operating in "States of Terrorism" is seen by some as too broad.
NEWS STORY:
MMA Helps People Far and Near With its New OneWorld Community Development Investment Program
MMA and the Mennonite Economic Development Associates have created a program for investors to help capital reach poor neighborhoods in the US and abroad.
NEWS STORY:
Wachovia NEXT Awards for Opportunity Finance Honor CDFIs
Three heavy-hitters come together to support community development financial institutions with $42.5 million pledged over the next five years in grants and loans.
NEWS STORY:
Seeing Retirement Investment Through Green-colored Glasses
A new report shows that Americans have more SRI retirement choices than ever before, but it remains to be seen if people chose to put their savings in socially and environmentally screened funds.
NEWS STORY:
ABN Amro: Honored for its Global Sustainability Work and Called Out for Its Climate Change Finance
The Financial Times awards banking goliath ABN Amro its 2007 Sustainable Banking Award while a new report points to the bank's carbon-intensive investments.
NEWS STORY:
Biofuels: Keeping Good Intentions on the Right Path
With the biofuels industry growing by leaps and bounds worldwide, controversy is erupting over whether this important new energy source is truly as sustainable as it claims to be.
NEWS STORY:
New Eurosif Reports Identify ESG Challenges in the European Food and Insurance Sectors
Eurosif's raises awareness of social and environmental issues across European companies in a series of sector-by-sector reports, the two newest covering the insurance and food production sectors.
NEWS STORY:
Forget Fossil Fuels, Calvert Now Offers Global Alternative Energy Fund
Calvert releases a survey of US investors on climate change and expands its family of funds with an alternative energy fund.
NEWS STORY:
One and Two Percent Allocations Add Up for Social and Community Development
TIAA-CREF allocates 2% of its Social Choice account for proactive social investments while the Social Investment Forum and Co-op America's 1% or More for Community campaign aims to double the amount invested in community development.
NEWS STORY:
MMA Now Offers Small Cap and Growth Index Funds
Leading faith-based investment company MMA Praxis Mutual grows its offerings with two new screened funds.
NEWS STORY:
SustainAbility Predicts How Sustainable Development Will Play Out Over Next Two Decades
Part two of this two-part article looks at a recent report from SustainAbility that projects four scenarios of potential developments in sustainability over the next 20 years.
NEWS STORY:
Shareholders Push Social and Environmental Issues to the Forefront
Proxy season 2007 sees a huge number of social and environmental resolutions at US companies with the growing support of voters.
NEWS STORY:
Brundtland Report Celebrates 20th Anniversary Since Coining Sustainable Development
Part one of this two-part article examines how the Brundtland Report has promoted sustainable development over the past two decades.
NEWS STORY:
Gabelli Launches New Value-Oriented SRI Fund
Gabelli Funds offers its first open SRI Fund, backed up by years of SRI experience working with institutional investors.
NEWS STORY:
Calvert's New Growth Fund Has Global Focus
American SRI pioneer Calvert launches the Calvert International Opportunities Fund, a small and mid-cap fund with UK-based F&C Management as sub-advisor.
NEWS STORY:
Principles For Responsible Investment Quadruples Assets in First Year
The United Nations sponsored Principles for Responsible Investment is only one year old, but have already reached $8 trillion plus in assets and expect to keeping on growing.
NEWS STORY:
Shareholder Resolutions on Climate Change to Heat Up ExxonMobil's Annual Meeting
A broad coalition of shareholders is seriously concerned about ExxonMobil's lackluster response to global climate change and plans to give thumbs down to board member Michael Boskin.
NEWS STORY:
Nanotechnology: The Smallest Green Revolution?
A new report from the Project on Emerging Nanotechnologies touts "green" nanotechnology, and calls for Federal oversight.
NEWS STORY:
Innovative Fund Looks to Johnny Appleseed for Inspiration
The Appleseed Fund offers social investors a fresh venue for investing in undervalued companies selected for their social and environmental records.
NEWS STORY:
Fidelity Divests Large Chunk of Sudan-Related Holdings
Despite similar pressure from Sudan divestment activists, Warren Buffett and Berkshire Hathaway retain holdings in PetroChina, which is linked to genocide in Darfur.
NEWS STORY:
Proven Community Investment Fund Now Open to All
Access Capital Strategies changes the structure of its Community Investing Fund to allow individuals and small institutions to invest in the Fund.
NEWS STORY:
Banking on the Future: The Two Biggest US Banks To Dedicate Billions to Halting Climate Change
Citigroup and Bank of America have pledged billions of dollars to help fight climate change while a new report questions Chinese banks' environmental policies.
NEWS STORY:
Opening Up Pandora's Box: SEC Proxy Roundtable Questions Role of Non-Binding Resolutions
SEC officers and panelists discuss the possibility of removing non-binding resolutions from the proxy and replacing them with online communications between shareowners and companies.
NEWS STORY:
Risky Business: The Outlook for Investing in Nuclear Power
A new report scrutinizes the nuclear industry from an investor's perspective and finds a rotting fantasy of cheap energy and huge returns.
NEWS STORY:
Going In and Out the Windows: Weaving a Web of Political Accountability
The Center for Political Accountability's new report "Open Windows" calls on companies for greater transparency and accountability in political giving and outlines a model of political accountability.
BOOK REVIEW:
Book Review: Deep Economy: The Wealth Of Communities And The Durable Future
Author Bill McKibben's latest book helps lay the groundwork to create a more livable and viable world in which less is actually better.
NEWS STORY:
Grading Sustainability Reports: Creating the Curve
As more and more companies publish sustainability reports, awards and studies of these reports help raise reporting standards.
NEWS STORY:
Shareholders One Step Closer to Having a "Say on Pay"
The US House of Representatives votes to give shareholders an advisory non-binding vote on executive compensation.
NEWS STORY:
Yes and No: Newmont Recommends Voting For One Resolution, Petitions SEC to Omit Another
The actions span the gamut of corporate responses to shareowner resolutions on environmental, social, and governance issues, from wholehearted support to forceful opposition.
NEWS STORY:
Over the Hedge: New Green Hedge Fund of Funds
Kenmar plans to launch socially responsible hedge fund of funds for institutional investors.
NEWS STORY:
Shareholders Work to Make AIDS Drugs Available Worldwide
Abbott Labs changes its tune and lowers price of AIDS fighting drugs in low-and-middle income countries.
NEWS STORY:
Corporate Social Responsibility: Perfect Playing Field for Tipping Points and Cognitive Frames
The Lifeworth review of CSR developments in 2006 fuses two popular concepts on social beliefs and change to promote personal, corporate, and societal transformation.
NEWS STORY:
Surveillance, Schmurveillance?
Wal-Mart's apparent research and surveillance activities geared toward shareholders raises troubling, but perhaps fleeting questions about trust.
NEWS STORY:
If You Tag It, It Will Be Used: Sustainability Reporting in XBRL
Weeks after the latest SEC roundtable on interactive data, the Global Reporting Initiative releases a draft taxonomy of XBRL tags mapped to G3 Sustainability Reporting Guidelines.
NEWS STORY:
Water, Water, But Not Everywhere
The entry of private equity firms and consolidation of utility operations by large conglomerates are poised to change the water industry over the next 20 years.
NEWS STORY:
Spectra Green Fund Offers a Different Shade of Green
The Spectra Green Fund, from Fred Alger Management, broadens approach to selecting sustainable and environmentally conscious companies.
NEWS STORY:
Porter and Kramer Framework Melding CSR with Business Strategy Wins Harvard Award
The Harvard Business Review grants the 2006 McKinsey Award to an article arguing companies create competitive advantage by integrating social and environmental issues into core strategy.
NEWS STORY:
Subprime Lending Hurts Homeowners
The Center for Responsible Lending contends that subprime lending has led to a net loss in homeownership.
NEWS STORY:
Carbon Offsets: Modern-Day Indulgences to Assuage Carbon Guilt or Market Mechanism for Supporting Clean Energy
Even as they gain popularity as a climate change solution, carbon offsets have come under considerable criticism for diluting action on global warming--the truth likely resides between these extremes.
NEWS STORY:
Canadian SRI Assets Leap to More Than $500 Billion Canadian
A new survey from the Social Investment Organization shows Canadian SRI assets ballooning thanks to increased institutional interest and new methodology.
NEWS STORY:
The World's Poor: Huge Market or Just a Marketer’s Fantasy?
New report from the International Finance Corporation and World Resources Institute measures the market-size of the Earth's people who live in poverty.
NEWS STORY:
Concerned Investors and Businesses Call for Congress to Pass a Carbon-Cap or Wear a Dunce Cap
A large group of institutional investors and US companies call on the federal government to pass legislation to fight climate change that includes a demand for mandated cuts in greenhouse gasses.
NEWS STORY:
Shareowner Activism Precedes Development of SRI Slavery Screen
Most slavery exists far up the supply chain, and auditing practices do not yet exist to monitor for slavery at second- or third-tier suppliers, so it is too early to enact an enforceable slavery screen.
NEWS STORY:
ABN AMRO Asset Management Launches First Indian SRI Mutual Fund
New fund focuses on companies screened by Indian research and ratings company CRISIL.
NEWS STORY:
TIAA-CREF Ups the Ante With New Stance on ESG Issues
TIAA-CREF’s new policy statement and proxy voting guidelines address social, environmental and governance issues, moving SRI arguments into the mainstream.
NEWS STORY:
Ruggie Report Says Voluntary Human Rights Initiatives Set Stage for Binding Global Standards
While the report finds significant flaws with voluntary collaborations between corporations and civil society, they currently fill the gap created by nation-states failing to protect human rights.
NEWS STORY:
S&P Tracks Sustainability With a New Global Index
S&P jumps into the growing pool of sustainability indexes with the launch of its Global Thematic Index Series.
NEWS STORY:
Mutual Funds Inch Toward More Conscientious Proxy Voting on Social and Environmental Resolutions
Corporate social responsibility resolutions addressing climate change reveal the increasing complexity of assessing proxy voting records.
NEWS STORY:
Carrying the Shield for Responsible Investing in Canada
Corporate Knights magazine names top Canadian SRI mutual funds and releases survey that finds SRI funds mirror market performance.
NEWS STORY:
Chocolate Giant Commits to Responsible Supplier Code
The Hershey Company is working to create a supplier code of conduct that goes above and beyond just cocoa suppliers.
NEWS STORY:
New Bond Index Focuses on Climate Change
JP Morgan Chase and Innovest introduce the first bond index that addresses climate change risks and possibilities.
BOOK REVIEW:
Book Review--The New Capitalists: How Citizen Investors Are Reshaping the Corporate Agenda
This book introduces a series of new concepts such as the civil economy, the circle of accountability, and the capitalist manifesto that harness capitalism toward social purpose.
NEWS STORY:
Toxic Cosmetics Getting Under the Skin of Concerned Investors
Health-conscious investors and consumers are starting to demand cosmetic companies report and ban toxic ingredients.
NEWS STORY:
New Ethical Fund Brings Value-Based Investing to High Street
Marks & Spencer Money, a former division of the top English retailer Marks & Spencer, has started offering a new SRI fund called the M & S Ethical Fund, which will be managed by two well-respected SRI mangers.
NEWS STORY:
Citigroup, Lehman Brothers, and UBS Report on Climate Risks and Opportunities for Investing
Lehman Brothers and UBS agree climate change represents a market failure for neglecting to price carbon externalizations in valuations, while Citigroup makes specific stock picks.
NEWS STORY:
New Fund for Affordable Housing In Latin America
With $100 million pledged from OPIC, the Alsis Latin America Fund supports home construction and local capital markets in Latin America.
NEWS STORY:
Aflac Shareholders Get Say on Executive Pay
Aflac becomes the first major US company to offer shareholders a non-binding vote on executive compensation packages.
NEWS STORY:
Business for Social Responsibility Fuses the Theoretical and Practical to Promote Sustainability
SocialFunds.com speaks with Aron Cramer, CEO of Business for Social Responsibility, about past developments in corporate social responsibility and future trajectories of sustainability.
NEWS STORY:
Shareholders Ask Companies for Transparency on Corporate Political Giving
With 43 companies facing shareholder resolutions on political accountability this proxy season, a handful of companies have already reached agreements with filers on this issue.
NEWS STORY:
Top US Jewelry Retailers Get the Gold for Signing Responsibility Pledge
In time for Valentine’s Day, seven out of the top ten US jewelry retailers sign No Dirty Gold’s "Golden Rules" to back responsible gold mining practices.
NEWS STORY:
The Gates Foundation and Mission Related Investing: Room for Alignment?
An investigative report into the investment practices of the Gates Foundation has reinvigorated the debate over the obligation of foundations to align their missions with their investments.
NEWS STORY:
Social(k) Catalyzes SRI Retirement Opportunities for Employees
Social(k)’s online retirement platform expands companies’ retirement options by offering over 100 SRI funds.
NEWS STORY:
Proxy Votes on Sexual Orientation Nondiscrimination Draw Strong Support
Shareholder resolutions calling for equal rights for all employees at Commercial Metals and Micron highlight growing support for companies to include sexual orientation in their nondiscrimination policies.
NEWS STORY:
S&P 500 Lags on Climate Disclosure, Electric Utilities Burning Economic Value Into Carbon
Two recent reports use findings of the 2006 Carbon Disclosure Project to assess limits of transparency on climate risks and opportunities and drag on value creation at electric utilities.
NEWS STORY:
Top CEOs Address Climate Change
A collaboration between ten major US companies and four environmental organizations calls on the Federal government to quickly enact strong legislation to reduce greenhouse emissions.
NEWS STORY:
"Say on Pay" Highlighted in the Upcoming 2007 Proxy Season
Institutional investors band together, asking for the right to weigh in on top executive compensation packages.
NEWS STORY:
Inaugural Report Card Grades College Sustainability on Endowment and Campus Efforts
The Sustainable Endowments Institute study finds endowment sustainability lagging campus sustainability policies and initiatives.
NEWS STORY:
Global 100 List Raises the Profile of Sustainability at the World Economic Forum (and Beyond)
Competition to make the third annual list of the 100 most sustainable companies--based on ratings by Innovest--continues to spur strong corporate social and environmental performance.
NEWS STORY:
Surveyed Managers Emphasize Socially Responsible Issues
EIRIS’ newest survey asserts that both SRI and mainstreams investors view specific environmental, social, and governance factors as important when applied to certain sectors.
NEWS STORY:
From Competition to Cooperation: Companies Collaborate on Social and Environmental Issues
Collaborative initiatives bring together companies, investors, and activists to address issues such as online freedom of expression, climate change, and labor rights in the global supply chain.
NEWS STORY:
MicroVest Secures Mutual Fund Investor
Meritas Jantzi Social Index Fund Invests with MicroVest
NEWS STORY:
The Problem with Voluntary Corporate Initiatives Is -- Well, They Are Voluntary
A Harvard study identifies the voluntary nature of such corporate social and environmental initiatives as their pitfall, limiting the ability to gauge their effectiveness.
NEWS STORY:
Study Links Options Backdating to Corporate Governance Weaknesses
Harvard Professor Lucian Bebchuk and colleagues use a new method of identifying CEO and outside director manipulation of stock option timing and assert correlations to governance problems.
NEWS STORY:
New Domini Funds Invest in the World
Domini charts new territory with the creation of the Domini PacAsia Social Equity Fund and the Domini EuroPacific Social Equity Fund.
BOOK REVIEW:
Book Review--Make Poverty Business: Increase Profits and Reduce Risks by Engaging with the Poor
The co-authors provide a blueprint for on-the-ground managers of multinational corporations to create sustainable profits and reduce country risk by helping alleviate poverty.
NEWS STORY:
Top Five Socially Responsible Investing News Stories of 2006
Green investing booms, microfinance pioneer wins Nobel Peace Prize, shareowner democracy increases, resolutions receive record votes, and UN launches Principles of Responsible Investment
NEWS STORY:
Launch of Three New Clean Tech Indexes Culminates Banner Year for Green Investing
The three Jefferies Global Clean Technology Indexes join the half-dozen green indexes introduced this year.
NEWS STORY:
Costs of Carbon and Coal: Examining Emissions Trading Scheme Impact on Shareowner Value
WWF and SAM Group collaborate on a study modeling impacts of rising costs of carbon dioxide emissions on the valuation of German utility RWE, the biggest private carbon emitter in Europe.
NEWS STORY:
Rainforest Action Network Seeks to Stem Flow of Financing to TXU Coal Project
Part two of this two-part articles addresses how RAN sent a letter to 54 banks urging them to withhold funding from a TXU plan to build 11 pulverized coal-burning power plants in Texas.
NEWS STORY:
TXU Shareowners File Three Resolutions Questioning Wisdom of Pulverized Coal Plants
Part one of this two-part article examines how shareowners are raising environmental and regulatory concerns over the TXU coal expansion plan, as well as environmentally preferable alternatives to coal such as energy efficiency.
NEWS STORY:
Swedish Government Facilitates Corporate Responsibility
A SocialFunds.com interview with Elisabeth Dahlin, Ambassador, Head of Global Responsibility, Sweden.
NEWS STORY:
Institutional Investors in France Foresee Continuing Growth of Socially Responsible Investing
A Novethic survey tells some of the story behind the numbers documented in the September 2006 Eurosif report on the growth of SRI in Europe.
NEWS STORY:
Retailers Improve on Keeping Violent Video Games Out of the Hands of Children
An Interfaith Center on Corporate Responsibility report also identifies several areas where the seven companies examined stand to improve performance--predominantly on disclosure.
NEWS STORY:
Another Clean Energy Exchange Traded Fund to Launch
First Trust Advisors is slated to introduce an ETF that tracks the NASDAQ Clean Edge US Liquid Series Index early next year.
NEWS STORY:
Marriott Combats Child Sexual Exploitation
Shareowner engagement by Boston Common Asset Management and the First Swedish National Pension Fund prompts Marriott to explicitly address child sex tourism in its human rights policy.
NEWS STORY:
How to Do Sustainble Banking
BankTrack, a coalition of nongovernmental organizations promoting social and environmental responsibility in the finance sector, issues a guide to best practices in sustainable banking.
NEWS STORY:
Eight Percent of Fortune 500 Taking EPA Challenge to Double Their Green Energy Use
Fortune 500 companies are installing renewable energy generation on-site as well as purchasing green power directly or through renewable energy certificates.
NEWS STORY:
Pharma Companies Need to Keep Improving AIDS Response, Says ICCR and Nigerian Doctor
Chukwumuanya Igboekwu of Physicians for Social Justice adds his own critiques to the Interfaith Center on Corporate Responsibility study on pharmaceutical industry shortcomings in addressing AIDS.
NEWS STORY:
The Growth of Green Building Funds
A new urban green real estate fund from Revival Fund Management exemplifies a budding trend toward private funds capitalized by accredited investors.
NEWS STORY:
Corporate Accountability Improves, Progressing on Stakeholder Engagement But Not Assurance
Vodafone, BP, and Shell top the annual Global Accountability Rating by AccountAbility and CSRnetwork, with Home Depot rising 10 percentage points and Chevron falling 20.
NEWS STORY:
Ecosystem Depletion Presents Businesses with Risks and Opportunities
Four prominent environmental and business organizations report on the business risks and opportunities associated with ecosystem crises such as climate change and water scarcity.
NEWS STORY:
New Exchange Traded Fund Tracks Domini 400 Social Index
Barclays Global Investors launches the iShares KLD 400 Social Index ETF.
BOOK REVIEW:
Book Review: Green to Gold: How Smart Companies Use Environmental Strategy to Innovate, Create Value, and Build Competitive Advantage
The plethora of real-life examples of corporate environmental initiatives is where readers will find value in this book from two authors associated with Yale.
NEWS STORY:
Dear Sir or Madam: Stakeholder Letters Push Corporate Sustainability Improvements
Letters remains an important mode for addressing environmental, social, and governance issues, encompassing a broader swath than simply communication between shareowners and companies.
NEWS STORY:
Merrill Lynch and World Resources Institute Issue Second Auto Sector Climate Change Report
The report again balances stock picking and investment analysis with in-depth discussion of regulatory and market developments in response to global warming and energy security concerns.
NEWS STORY:
Sustainability Reporting Improving, But Not Necessarily Contributing to True Sustainability
The biennial survey of global reporters by SustainAbility assesses disclosure on sustainability performance, but refrains from directly assessing corporate sustainability performance.
NEWS STORY:
Study Finds Corporate Political Donations Increase Share Price, But Ignores Potential Risks
The academic paper documents up to six percent annual return increase when companies support more candidates, but it neglects to address rising legal risks of donations being defined as bribes.
NEWS STORY:
Merrill Lynch Uses CDFI Assessment and Ratings System on $93 Million Community Investment
While many investors use the CARS ratings as secondary information in their community investment decisions, Merrill Lynch will use it as its primary underwriting tool.
NEWS STORY:
KLD Fills Gap in Socially Responsible Investing by Launching Equity Income Index
The KLD Dividend Achievers Social Index, created in partnership with Mergent, provides a new option for passive investment vehicles in this previously underdeveloped asset allocation in SRI.
NEWS STORY:
As Climate Debate Matures, Companies Strategize Solutions and Investors Push for Disclosure
Companies are taking tangible actions to minimize risks and seize opportunities related to climate change, while investors promote more robust climate-related disclosure.
NEWS STORY:
Two New ETFs Fight Climate Change: One Bridges Shift to Cleaner Energy, One Pushes Cleantech
The PowerShares WilderHill Progressive Energy Portfolio and the PowerShares Cleantech Portfolio offer investors increasing choice for investing in climate change solutions.
NEWS STORY:
Glass Lewis Adds KLD Proxy Voting Guidelines to Proxy Voting Platform
The move increases the availability of socially responsible investing proxy voting guidelines, but it remains to be seen if it inspires Glass Lewis to support more SRI resolutions in its own guidelines.
NEWS STORY:
Pax World Drops Zero Tolerance Screens on Alcohol and Gambling
SocialFunds.com speaks with Pax World CEO Joe Keefe about changes approved today, including the addition of governance, climate change, and human rights screens.
NEWS STORY:
Winslow Conservation Index Outperforms the S&P 500 and Russell 2000
Winslow Management Company back-tested five-year performance of 15 companies focused on conservation, an oft-overlooked component of the alternative energy equation.
NEWS STORY:
PepsiCo and Coca-Cola Get Cs on Report Card for Ten Percent Recycled Content in Bottles
The report, conducted by the As You Sow (AYS) Foundation and the Container Recycling Institute, graded the ten other beverage companies D- and F on recycling.
NEWS STORY:
Votes for Social and Environmental Resolutions Rising, But Proxy Firm Support Still Lagging
Over a quarter of social and environmental resolutions topped 15 percent support this proxy season, but proxy advisory firm recommendations supporting such proposals remain low.
NEWS STORY:
(PRODUCT) RED Combats HIV/AIDS by Funneling Portions of Sales to the Global Fund
Gap Inc commits half of profits from its RED-branded product line to the Global Fund, exemplifying this new business model for generating sustainable funds for addressing the AIDS pandemic.
NEWS STORY:
Nobel Prize Links Microfinance to Peace
The granting of the Nobel Peace Prize to Muhammad Yunus and the Grameen Bank breaks new ground by explicitly linking economic development to peace development.
NEWS STORY:
Blue Funds to Invest in Companies that Support Democrats
The two new funds seek to capitalize on research that finds that Democrat-supporting companies significantly outperform Republican-supporting companies.
NEWS STORY:
Global Compact Aligns with GRI and the Practical Side of the Change Agenda
In part two of this two-part interview, SocialFunds.com speaks with Georg Kell about new alliances facilitating Communication on Progress reporting as well as broader issues facing the Global Compact.
NEWS STORY:
Global Compact Puts 335 Companies in Deep Freezer Until They Communicate on Progress
In part one of this two-part interview, SocialFunds.com speaks with Georg Kell about the de-listing of 335 companies from the Global Compact for failing to issue Communication on Progress reports.
NEWS STORY:
Microfinance Crosses Continental Divide with $100 Million Commitment from TIAA-CREF
TIAA-CREF inaugurated its Global Microfinance Investment Program by purchasing from ProCredit Holdings $43 million in private equity shares, a new strategy in microfinance.
NEWS STORY:
Investors Call on S&P 500 Companies to Use New Global Reporting Initiative G3 Guidelines
Only 13 percent of the S&P 500 issues GRI reports--those that do see the move as insulating them against the possibility of future mandated disclosure on issues such as climate risk.
NEWS STORY:
FTSE4Good Deletes Nine Companies on Environmental and Supply Chain Labor Standards
FTSE4Good criteria promote incremental progress in corporate social responsibility performance, and climate change is the latest topic covered in newly proposed standards.
NEWS STORY:
New Socially Responsible Investing Portfolios Offer Alternatives to SRI Mutual Funds
Investment advisors can now offer retail clients separate accounts tracking seven different indexes, and a new index is geared toward high net worth individuals with Catholic values.
BOOK REVIEW:
Book Review: The Business Case for Diversity
DiversityInc presents compelling anecdotal evidence supporting the business case for diversity as well as copious empirical evidence, some of which is marred by editorial oversights.
NEWS STORY:
Why Aren't We Here Yesterday? A Conversation with Social Investment Forum CEO Lisa Woll
SocialFunds.com speaks with Lisa Woll as well as SIF President Tim Smith about the new CEO position and the future direction of SIF and socially responsible investing generally.
NEWS STORY:
BP, John Deere, Goldman Sachs, and Allianz Among Renewable Energy Award Winners
The third annual award ceremony, sponsored by Euromoney and Ernst and Young, took place during the Renewable Energy Finance Forum.
NEWS STORY:
Emerging Markets Emerging as Socially Responsible Investing Opportunities
A report by the Ethical Investment Research Services examines 50 emerging market companies using various SRI screens, and finds a number of possible plays.
NEWS STORY:
Mainstreaming of SRI Boosts Assets in Europe Over One Trillion Euros
The latest report by Eurosif on socially responsible investing in Europe notes the distinction between core SRI, which is steady, and broad SRI, which is fueling the growth.
NEWS STORY:
Pennsylvania Treasurer Keys into Clean Tech Investing and Green Screens
Keystone Green Investment Strategy commits state to $40 million in green private investments, $50 million shifted to managers investing in clean tech, and environmental screening.
NEWS STORY:
Canadian Social Investment Organization Recommends Mandating Global Reporting Initiative
In a submission to the National Roundtables on Corporate Social Responsibility, SIO advocates for amending the Canada Business Corporations Act to mandate annual GRI reporting.
NEWS STORY:
Carbon Disclosure Project Finds Tipping Point in Awareness But Not Action on Climate Risks
CDP4 reveals almost three quarters of FT500 tracking their greenhouse gas emissions, but less than half of those who think climate change poses risks are reducing GHG emissions.
NEWS STORY:
Academic Joins Shareowners in Advocating Corporate Lobbying Reform
Yale University Professor Bob Repetto issues paper calling for companies to rapidly adopt best practice on corporate lobbying, including oversight and approval by independent directors.
NEWS STORY:
Court Affirms Shareowner Right to File Resolutions on Proxy Access for Nominating Directors
The decision, which simply upholds existing rules that SEC practice had departed from, fills the void left when the SEC proposed then abandoned a rule on proxy access for nominating directors.
NEWS STORY:
DJSI Takes Holistic Approach to Assessing and Promoting Corporate Sustainability
Dow Jones Sustainability Indexes assesses overall sustainability performance, driving constant improvement through the competitiveness to attain best-in-class status.
NEWS STORY:
Barclays Files for Permission to Launch iShares ETF Tracking the Domini Social Index
The exchange-traded fund will likely have a low expense ratio, but will not conduct shareowner engagement like the other fund tracking the DSI, the Green Century Equity Fund, does.
NEWS STORY:
The Ratio of Greed: Report Pierces Numbing Numbers of Executive Excess
United for a Fair Economy and Institute for Policy Studies publish 13th annual study examining CEO compensation, which continues its upward trend while worker pay stagnates.
NEWS STORY:
Pax World and Citizens Announce Engagement
The marriage would consolidate two leading socially responsible investing firms with primarily complementary offerings.
NEWS STORY:
Hydropower Stocks as an Alternative Energy Play
Phaethon and Creative Investment Research recommend hydro to gain exposure to the energy boom, contending new technologies offer potential for reducing environmental impacts.
NEWS STORY:
Green Century Equity Fund Seeks Shareowner Okay to Continue Tracking Domini Social Index
Green Century also announced its intention to lower the expense ratio for the fund with aim of enlarging the fund's investor base.
NEWS STORY:
How Insurers Are (and Are Not) Tackling Climate Risk in Underwriting, Investing, and Policies
A new report from Ceres identifies almost 200 activities recently introduced by insurers to address climate change, but calls on the industry for further action.
NEWS STORY:
Trucost Joins Yale Professor to Devise Tool to Gauge Financial Cost of Environmental Impacts
Professor Robert Repetto and Trucost Researcher Dan Dias apply the TRUEVA methodology for measuring externalities in financial terms to the US electric sector, which scores terribly.
NEWS STORY:
Domini Shareowners Approve Shift from Index Tracking to Active Management
The transition carries implications for investors, such as capital gains taxes, which Domini is strategically mitigating.
NEWS STORY:
EPA Workers Want SRI Funds in Retirement Plan, But Congress Drags Its Feet on Bill
A 2005 survey finds almost all Environmental Protection Agency employees want socially responsible investing options, while a Bill adding a SRI option languishes two years in committee.
NEWS STORY:
ICCR Benchmarks Pharma Responses to AIDS and Diseases of Poverty in Emerging Markets
The Interfaith Center on Corporate Responsibility report assesses 15 pharmaceutical companies, and finds all of them falling short of best practice in most areas on AIDS and neglected diseases.
NEWS STORY:
Alternative Energy Revolution Fueled by New Fund Launches Despite Sector Downturn
The launch of the Guinness Atkinson Alternative Energy Fund testifies to optimism about the sub-sector echoed by the launch of the first renewable energy hedge fund by Ardsley Partners.
NEWS STORY:
Benchmarking Corporate Climate Change Mitigation to Scientific Targets
The Center for Sustainable Innovation launches a new tool for measuring corporate sustainability using emissions reductions goals set by science, not business or politics.
NEWS STORY:
Calvert and Ford Foundations Help Launch Public Radio Fund to Democratize the Airwaves
The foundations jointly seeded $4.5 million in the revolving loan fund administered by Denver-based Public Radio Capital to provide low-interest loans to public radio projects nationally.
NEWS STORY:
Shareowners Push TimeWarner on Movies Depicting Smoking, Recycled Paper, and Pay Disparity
Part two of this two-part article documents steps forward made by TimeWarner, as well as areas where shareowner activists continue to press for progress.
NEWS STORY:
Shareowner Activists See Progress at TimeWarner, and Room for Improvement
In part one of this two-part article, activists applaud the company on its first corporate social responsibility report while continuing to push on environmental, social, and governance issues.
BOOK REVIEW:
Book Review--International Documents on Corporate Responsibility
A comprehensive compendium of important codes on corporate social responsibility.
NEWS STORY:
ADVANCE Converts Corporate Environmental Metrics Into Monetary Terms
The transparent methodology stands to advance corporate social responsibility and socially responsible investing, but it remains to be seen if it measures true sustainability.
NEWS STORY:
Biofuels May Not Be Sustainability Panacea, According to Bank Sarasin Report
The report identifies strengths and weaknesses of biofuels from social and environmental perspectives, as well as positing minimum sustainability criteria to qualify for investment.
NEWS STORY:
BP, Suncor, and Shell Top Oil Sector Sustainability Rating; Chevron and ExxonMobil Rank Low
The report by Jantzi Research examines 23 oil companies worldwide on environmental issues such as greenhouse gas emissions as well as human rights and other social issues.
NEWS STORY:
First Socially Responsible Investing Portfolio Devoted to Diversity Launched
Minority-owned Creative Investment Research conceived of the portfolio to promote corporate diversity while targeting women and minority investors for economic empowerment.
NEWS STORY:
The Pages of Corporate Sustainability and Responsibility
Books addressing climate change dominate the fourth annual SocialFunds.com Summer Reading List recommended by socially responsible investing and corporate social responsibility leaders.
NEWS STORY:
Executives and the Environment: Looking Back at Proxy Season 2007
With the 2007 proxy season over, shareholders saw a jump in the number of socially responsible proposals, with support growing for climate change proposals and accountability for executive pay.
NEWS STORY:
Nuns and Priests File Depleted Uranium Bunker Buster Resolution at Three Weapons Companies
The resolution goes to vote next week at Alliant Techsystems, and already received more than double the support needed to re-file next year at Lockheed Martin and Textron.
NEWS STORY:
Survey Examines Nomenclature and Numbers Fueling SRI and Extra-Financial Research
The fourth annual survey from Thomson Extel and the UK Social Investment Forum looks beyond the numbers to assess the role of language in promoting uptake of SRI research.
NEWS STORY:
Trillium Takes the Reins from Winslow in Managing the Green Century Balanced Fund
The transition in portfolio managers has shifted the fund back to its roots as a core portfolio holding by reducing risk and diversifying holdings across the multi-cap space.
NEWS STORY:
Filing Resolutions at Mutual Funds: The Next Frontier for Shareowner Activism?
Eight years after the Northwest Corporate Accountability Project first filed an environmental shareowner resolution, it will finally go to vote at the Merrill Lynch Global Allocation Fund.
NEWS STORY:
Parnassus Small Cap Fund Identifies Unique Sustainability Characteristics to Outperform Russell 2000
While the introduction of the Parnassus Workplace Fund a year ago piqued interest, the Parnassus Small Cap Fund unveiled at the same time is turning heads with strong financial performance.
NEWS STORY:
UN Advances Business Case for Materiality of SRI, Leaving Skeptics Little Wiggle Room
A new UNEP FI report assesses how investment banks are integrating environmental, social, and governance factors and linking them to financial performance in their research.
NEWS STORY:
Survey Reveals TIAA-CREF Investor Desire to Up Commitment to SRI
TIAA-CREF promises to respond to participants, of whom over three-quarters prioritize social and environmental considerations in investing choices.
BOOK REVIEW:
Book Review--The Triple Bottom Line: How Today's Best-Run Companies Are Achieving Economic, Social, and Environmental Success--And How You Can Too
The book lays out a framework for companies to follow on the path toward integrating the triple bottom line of economic, social, and environmental sustainability.
NEWS STORY:
Revised Equator Principles Fall Short of International Best Practice for Project Finance
While some observers praise the strengthening of labor rights, others decry the failure to implement adequate transparency, accountability, and governance mechanisms.
NEWS STORY:
Some Applaud Rise in Sustainability Reporting, Others Say It Masks Corporate Un-sustainability
A new study documents the increase in sustainability reporting, but a paper by St. Andrews researchers considers corporate sustainability an unrealistic goal under current economic system.
NEWS STORY:
Missouri Farmers Union Credit Union Supports Sustainability in Low-Income Rural Areas
The new credit union supports cooperative entrepreneurial models that advance social responsibility and environmental sustainability in low-income agricultural regions.
NEWS STORY:
Assessing Job Creation as a Social Indicator Correlating to Financial Performance
A new study from Switzerland-based Pictet & Cie argues that job creation eclipses all other labor issues as a key indicator of corporate social responsibility, and measures its impact on returns.
NEWS STORY:
Recycling 1.2--Dell, HP, and Apple Upgrade Takeback Programs to Slouch Toward Sustainability
The Computer TakeBack Campaign applauds the improvements while mapping the long road the computer industry still has to travel to attain true sustainability.
NEWS STORY:
Does Trucost Measurement of Corporate Carbon Footprints Reduce Environmental Impacts?
Trucost ranks the carbon intensity in UK portfolios, arguing for overweighting companies with lower carbon footprints to reduce ecological impact while maintaining performance.
NEWS STORY:
Sending Funds Home to Mexico Just Got Cheaper for Latino Community Credit Union Members
The Durham, North Carolina-based community development credit union will charge a flat $3 fee, use the exchange rate set by the Fed, and allow recipients to set up accounts in Mexico.
NEWS STORY:
Missouri Treasurer Implements Anti-Terrorism Screen on State Fund
The screen excludes Sudan as a state sponsor of terrorism, not necessarily as a genocidal regime, distinguishing this strategy from other Sudan-related state divestment strategies.
BOOK REVIEW:
Book Review--Shareholder Participation and the Corporation: A Fresh Inter-disciplinary Approach in Happiness
Australian Law Professor James McConvill applies empirical research on happiness to corporations, specifically focusing on the case it makes for shareowner empowerment.
NEWS STORY:
Semantics and Semitics: Presbyterian Church Investment to Focus on Israeli-Palestinian Peace
A recommendation approved by the church General Assembly apologizes to Jews and refines language while reaffirming commitment to corporate engagement with divestment as last resort.
NEWS STORY:
Stratfor Analysis Says Rise in Support for Shareowner Activism is Hitting a Plateau
The analysis suggests that corporate executives are building up a tolerance to higher resolution votes; mutual fund proxy voting transparency represents the next frontier for shareowner activists to boost votes.
NEWS STORY:
Canadian SRI Funds Perform On Par with Mainstream Funds
A survey of Canadian socially responsible investing funds finds a broad range of rigorousness in assessing corporate social and environmental sustainability.
NEWS STORY:
Correlating Proxy Advisory Firm Recommendations with Voting Results
A look at the link between recommendations by Institutional Shareholder Services, Glass Lewis, and PROXYGovernance and voting results at Citigroup, Chevron, ExxonMobil, and Wal-Mart.
NEWS STORY:
Norwegian Government Pension Fund Dumps Wal-Mart and Freeport on Ethical Exclusions
The $230 billion global fund--one of the largest pension funds in the world--cited Wal-Mart for systematic human rights violations and Freeport for serious environmental damage.
NEWS STORY:
World Resources Institute and Citigroup Team Up to Report on Solutions to Climate Change
The report recommends a dozen companies poised to profit from a carbon-constrained future, including Archer Daniels Midland, Caterpillar, Cypress Semiconductor, GE, Itron, Johnson Controls, Monsanto, and Waste Management
NEWS STORY:
Why Do Minorities Receive More Subprime Mortgages? Can You Say, Kickback?
A new Center for Responsible Lending study shoots holes in industry rationale that bad credit histories of African-Americans and Latinos account for disproportionate subprime mortgages.
NEWS STORY:
Winslow and Jupiter Launch Global Green Fund Using Only Positive Environmental Criteria
The Jupiter Green Investment Trust pioneers cross-continent collaboration and evolution from negative screening to positive sustainability criteria.
NEWS STORY:
Corporate Shenanigans: Companies Dis Shareowners at Annual Meetings
Home Depot exemplifies a phenomenon of companies manipulating annual meeting protocols to disempower shareowners, following in the footsteps of Weyerhaeuser, Whole Foods, and others.
BOOK REVIEW:
Book Review--Managing the Business Case for Sustainability: The Integration of Social, Environmental, and Economic Performance
The book presents a wide breadth of academic and practitioner perspectives on corporate social and environmental sustainability.
NEWS STORY:
Bank of China International Investment Managers Launches First SRI Fund in China
The fund combines quantitative screening with qualitative assessment on issues such as corporate governance and social responsibility, but it is unclear how it will handle human rights.
NEWS STORY:
The Numbers--and the Stories Behind Them--on Community Development Financial Institutions
CDFI Data Project recently released the most comprehensive report on the CDFI industry, with statistics documenting CDFI growth and case studies illustrating positive social impacts.
NEWS STORY:
Wainwright Bank and Equal Exchange Partner to Offer the First Branded Certificate of Deposit
This new branded CD model is particularly suited to socially responsible banks, companies, and investors, as the increased social returns can counterbalance the slightly higher financial risks.
NEWS STORY:
Survey Starts to Pry Open Black Box of University Endowment Holdings and Proxy Voting
The survey, conducted by the Sustainable Endowments Institute, finds the vast majority of universities and colleges veiling their holdings and proxy voting records in secrecy.
NEWS STORY:
Applying an Ant Colony Mentality to Extra-Financial Factors and Enhanced Analytics
A report from the Universities Superannuation Scheme, a member of the Enhanced Analytics Initiative, calls for diverse, community-wide advocacy of factoring extra-financials into research.
NEWS STORY:
Domini Fund to Shift from Indexing to Active Management
Domini Social Investments proposes shifting the Domini Social Equity Fund from tracking the Domini 400 Social Index to being actively managed by Wellington Management.
NEWS STORY:
Listmania! Corporate Sustainability and Responsibility Lists Drive Improved Performance
CSR lists take the old adage--what gets measured gets managed--one step further by spotlighting the ranking process, thereby encouraging better corporate social and environmental performance.
NEWS STORY:
Using the Same Tape Measure: MicroRate To Launch Tool for Rating Microfinance Funds
The rating tool, a project supported by Gray Ghost Microfinance Fund, Omidyar Network, and Gates Foundation, is yet another step toward establishing microfinance as a distinct asset class.
NEWS STORY:
Ecological Community Loan Pool Directly Links Ecologically Minded Investors to Eco-Preneurs
The portal created by Ecostructure Financial tweaks the community development financial institution model to allow investors to lend directly to startups solving environmental problems.
NEWS STORY:
Japanese Fund First to Track KLD Global Climate 100 Index
The construction methodology of the Global Climate 100 distinguishes it from other clean energy indexes, and distinguishes this fund from other Japanese eco funds.
NEWS STORY:
The Case for Categorizing Community Development Venture Capital as a New Asset Class
A white paper by Pacific Community Ventures lays out the argument and identifies steps to promote growth in community development venture capital, such as standardizing social return metrics.
NEWS STORY:
Chemical Companies Unprepared to Reduce Toxicity for European REACH Regulations
An Ethical Investment Research Service report finds on Akzo Nobel advanced in preparation for REACH, while an Innovest report debunks industry claims that the rules will cripple them.
NEWS STORY:
Amgen Recommends Support for Political Donations Resolution, Bolstering Broader Campaign
The Center for Political Accountability, which coordinates the political contributions campaign, released a report on trade association contributions that previews its 2007 proxy season strategy.
NEWS STORY:
Hog Manure Fertilizes Improvements in Environmental Management at Smithfield Foods
Fines for Clean Water Act violations and a lawsuit settlement spur Smithfield to clean up its act and move toward environmental leadership, but it still has a way to go to complete a turnaround.
NEWS STORY:
Digging for More than Gold: SRI Letter Asks Newmont to Address Western Shoshone Concerns
The letter cites a recent decision by the United Nations Committee for the Elimination of Racial Discrimination to support Western Shoshone claims.
NEWS STORY:
Another Clean Energy Index Launches to Capitalize on Transition from Dependence on Fossil Fuels
The NASDAQ Clean Edge US Index joins several other recently launched clean energy indexes tracking solar photovoltaic, biofuel, wind, and fuel cell companies.
NEWS STORY:
Confirming the CalPERS Effect: Academic Study Links Shareowner Activism to Financial Gain
Examining companies targeted for governance reform by the CalPERS Focus List, the study presents data correlating activism to increasing shareowner value as well as cautionary notes.
NEWS STORY:
Proxy Season Report Geared to Foundations Helps Others Navigate Proxy Landscape
As You Sow Foundation and Rockefeller Philanthropy Advisors report allows for stepping back by providing a useful overview as well as an in-depth look at behind-the-scenes dialogue.
NEWS STORY:
Student-Managed Socially Responsible Investing Fund Outperforms the Market
The faculty advisor to the Arnone-Lerer SRI Fund at Villanova University attributes a quarter of the outperformance to environmental, social, and governance factors.
NEWS STORY:
Investor Environmental Health Network Addresses Product Toxicity Through Safer Alternatives
The network is coordinating 11 shareowner resolutions addressing product toxicity at companies such as Avon, Becton-Dickinson, CVS, Dow, DuPont, and Whole Foods Market, among others.
NEWS STORY:
Shareholders One Step Closer to Having a “Say on Pay”
The US House of Representatives votes to give shareholders an advisory non-binding vote on executive compensation.
NEWS STORY:
United Nations Endorses SRI Strategies in Launching Principles for Responsible Investment
Some 50 institutional investors globally representing $4 trillion in assets have signed on to the Principles, which promote the consideration of environmental, social and governance factors.
NEWS STORY:
Survey Shows Public Corporations Upping Green Initiatives While Smaller Companies Lag
BOOK REVIEW:
Book Review--Values-Driven Business: How to Change the World, Make Money, and Have Fun
The first in the Social Venture Network book series provides loads of anecdotal advice on how to establish a values-driven business, but little on how to retain social responsibility in a buy-out.
NEWS STORY:
Conflict of Interests Policies and Practices Vary Widely at Proxy Advisory Firms
Part two of this two-part article examines how Institutional Shareholder Services, Glass Lewis, and PROXY Governance handle potential conflicts of interest.
NEWS STORY:
Voting Recommendations on Shareowner Resolutions Vary Widely at Proxy Advisory Firms
Part one of this two-part article compares Institutional Shareholder Services, Glass Lewis, and PROXY Governance vote recommendations on resolutions at Citigroup and Chevron.
NEWS STORY:
Wal-Mart Discloses Equal Employment Opportunity Data
The company joined six others in the S&P 100 that publicly disclose their EEO-1 report, but Wal-Mart still faces shareowner action on union-busting and selling gems mined in Burma.
NEWS STORY:
Enterprise Social Fund First to Tap Corporate Community for Community Investing
The fund partners Enterprise Community Partners, which will manage the portfolio, with Deutsche Bank, which will seek investment from socially responsible companies and individuals.
NEWS STORY:
New Analysis of Sustainability Risks and Opportunities in Developing Asian Markets
New report from ASrIA and IFC seeks to bring consideration of environmental, social, and governance factors into investment decisions in developing Asian markets.
NEWS STORY:
Is Contrarian Investing Consistent With or Contrary to Socially Responsible Investing?
SRI practitioners say that the contrarian focus on long-term prospects and overall health of a company suggest yes, while its focus on timing suggests maybe no.
NEWS STORY:
Bush Administration Proposes Axing Equal Opportunity Survey
The survey gathers tenure-track and compensation information by gender and race that is unavailable elsewhere, prompting socially responsible investors and others to oppose the move.
NEWS STORY:
Common Good Bank Advances One Branch of Community Investing Evolution
The bank promotes the common good by distributing excess profits to the community and by making all lending and spending decisions through participatory democracy.
NEWS STORY:
Analysis Advocates Strategic Approach to Corporate Social Responsibility
McKinsey Quarterly provides in-depth analysis of its January 2006 survey documenting increasing executive interest in CSR, a finding correlated by an American Society for Quality poll.
NEWS STORY:
Amana Funds Continue Strong Performance
The Amana Funds' Islamic principles coincide with sound investment strategies that have helped fuel strong financial performance over the past three years.
NEWS STORY:
Social Footprint Introduces Simple Elegance in Measuring Corporate Sustainability Performance
The method conceived by the Center for Sustainable Innovation for quantifying corporate social and environmental impacts uses quotients to compare company action to sustainability goals.
NEWS STORY:
Shareowner Resolutions Overcome Obstacles to Promote Sustainability Reporting
A campaign advocating for sustainability reporting refines its strategies, shifting from requiring adherence to recommending Global Reporting Initiative guidelines.
NEWS STORY:
Corporate Action on Climate Change Improves Over Past Three Years, But Still Insufficient
A report from Ceres benchmarks corporate governance on climate change, finding steady gains by leaders while some laggards leapfrog toward the top and other laggards stagnate at the bottom.
NEWS STORY:
White House and Interfaith Center on Corporate Responsibility Address Pediatric AIDS
Bush Administration launches a new public-private partnership on Pediatric AIDS, an area where ICCR engages pharmaceutical companies in shareowner advocacy.
BOOK REVIEW:
Book Review--Responsible Investment
An impressive and wide-ranging list of contributing writers advance a balance between elucidating the strengths of socially responsible investing while also exposing its weaknesses.
NEWS STORY:
Facing Campaign on Farm Working Conditions, McDonald's to Heed Independent Study Results
The Coalition of Immokalee Workers urges McDonald's to improve farm working conditions, which the company is addressing through a study by the Center for Reflection, Education, and Action.
NEWS STORY:
Cost of Clean Energy Decreases to Compete with Its Dirtier Counterparts, According to Report
The Clean Edge report surveys clean energy, documenting market growth, strong stock performance, and expansion of venture capital investment, as well as projecting future trends.
NEWS STORY:
Thirty Years and Counting: Cofounder Wayne Silby Recounts the Birth of Calvert
To celebrate the thirtieth anniversary of Calvert, SocialFunds.com speaks with co-founder Wayne Silby about its genesis, development, and future.
NEWS STORY:
A Serendipitous Match: Davis Advisors Takes Over MMA Praxis Core Stock Fund
The portfolio holding of Wal-Mart exemplifies (oddly enough) how both Davis Advisors and MMA Praxis emphasize the importance of stewardship and shareowner empowerment.
NEWS STORY:
FTSE4Good Semi-Annual Review Boots 16 US Companies on Environmental Criteria
Of the 19 deletions, only one company was dropped due to human rights (instead of environmental) criteria, and all but three deletions were US-based companies.
NEWS STORY:
US Banks Sink to the Bottom of the Barrel on Latest Sustainability Ratings from Oekom
Most US banks fail to disclose enough information on their social and environmental performance to qualify for analysis, and only four of 21 analyzed earned above D-level grades.
NEWS STORY:
Whole Foods Market Gags Shareowners at Annual Meeting
A leader on corporate social responsibility, Whole Foods lags on corporate governance by stymieing shareowner democracy.
NEWS STORY:
Sudan Presents Investment Risk as Genocidal Regime and State Sponsor of Terrorism
Socially responsible investing research provider IdealsWork Financial now offers data from Conflict Securities Advisory Group on corporate exposure to human rights abuses in Sudan.
NEWS STORY:
Wells Fargo Issues Alternative Energy Report to Join Ranks of Banks Advancing SRI Research
The report provides an overview of the alternative energy market as well as the pros and cons of investment opportunities in wind, solar, hydroelectric, hydrogen, biomass, and even nuclear.
NEWS STORY:
SEC Forces Chevron, Dow, and CVS to Include Shareowner Resolutions on Their Proxies
Part two of this two-part article examines no-action activity thus far in the 2006 proxy season, focusing on attempts to apply the personal grievance rule and expand a new risk assessment rule.
NEWS STORY:
Resolution Withdrawals Signal Success in Shareowner Advocacy Early in 2006 Proxy Season
Part one of this two-part article examines withdrawal of resolutions on climate change, sexual orientation nondiscrimination, political contributions, and HIV/AIDS policies.
NEWS STORY:
SRI Community Adding Its Two Cents to Comments on GRI G3 Guidelines
The Global Reporting Initiative is seeking public comments on its new sustainability reporting guidelines by March 31st.
BOOK REVIEW:
Book Review--Strategic Corporate Social Responsibility: Stakeholders in a Global Environment
The book maps the landscape of CSR, advocates a strategic approach taking global stakeholders into account, and presents a wealth of case studies to illustrate its points.
NEWS STORY:
State Laws Effectively Curb Predatory Lending Without Stifling Subprime Market, Study Finds
The Center for Responsible Lending study rebuts opponents of state anti-predatory lending laws, and suggests significant implications for the two competing anti-predatory bills now in Congress.
NEWS STORY:
Bank Policies Fail to Meet International Social and Environmental Standards, Report Says
The 39 banks assessed fall far short on global sustainability standards, and fail to disclose enough information on implementation to even be assessed by NGO coalition BankTrack.
NEWS STORY:
Evergreen Solar and Energy Conversion Devices Rated Outperformers in Piper Jaffray Solar Report
The report continues a trend of mainstream equity research using socially responsible investing strategies, and SRI funds confirm this assessment through wide exposure to these two companies.
NEWS STORY:
Defining Corporate Complicity in Human Rights Abuses
Business and Human Rights Seminar report maps the landscape of corporate complicity in human rights abuses, and addresses the dichotomy of mandatory laws versus voluntary codes.
NEWS STORY:
Opening the Umbrella of Socially Responsible Investing to Include Energy Efficient Mortgages
Indigo Financial Group promotes energy efficient mortgages, which have long been available through a Fannie Mae program but have yet to reach their market potential.
NEWS STORY:
IT Company Collusion with Chinese Authorities to Repress Free Expression Shorts Shareowner Value
Boston Common Asset Management submits testimony to congressional hearings asserting that protecting shareholder value and respecting human rights are not mutually exclusive mandates.
BOOK REVIEW:
Book Review: Economic Apartheid in America: A Primer on Economic Inequality & Insecurity
The revised and updated edition of this text (originally published in 2000) examines how excessive executive compensation contributes to the widening gulf between rich and poor.
NEWS STORY:
Financial Wonks Meet Treehuggers: New Tool Places Valuation on Corporate Sustainability
The sdEffect analytical framework takes the next step in establishing metrics to translate sustainable development into valuation.
NEWS STORY:
Two New Indexes Help Wean Us From Oil Addiction Via Clean Energy and Cleantech
The WilderHill New Energy Global Innovation Index tracks clean energy companies internationally, while the Cleantech Index tracks cleantech companies in the US.
NEWS STORY:
Shareowner Action on Product Toxicity Shifts from Isolated Resolutions to Become a Campaign
Fueling this development is the increasing visibility of product toxicity in the news, with the Environmental Protection Agency issuing record fines.
NEWS STORY:
Calvert Rates Environmental, Social and Governance Practices of 100 Largest US Companies
The move increases transparency of socially responsible investing research while maintaining the proprietary nature of the Calvert investment process.
NEWS STORY:
KLD and ISS Offer Research Tools for Divesting from Sudanese Genocide and Terrorism
The KLD tool focuses narrowly on the Illinois law mandating divestment from companies doing business with the Sudan; the ISS tool focuses beyond divestment and on other state sponsors of terrorism.
NEWS STORY:
Using Mutual Fund Proxy Voting Data to Promote More Conscientious Voting
The final installment of this multi-part series steps back to consider the implications of the findings and how to harness them to push mutual funds to support corporate social responsibility.
NEWS STORY:
Two Sides of the Same Coin: Surveys Track Growth of Interest in CSR and SRI
Part two of this two-part article focuses on a survey by McKinsey Quarterly on increasing interest from global corporate executives in corporate social responsibility.
NEWS STORY:
Two Sides of the Same Coin: Surveys Track Growth of Interest in SRI and CSR
Part one of this two-part article focuses on a survey by Mercer Investment Consulting on increasing interest from institutional investors in socially responsible investing.
NEWS STORY:
How to Determine the Top 100 Sustainable Companies in the World
Innovest Strategic Value Advisors and Corporate Knights announce the Global 100 Most Sustainable Companies at the World Economic Forum, documenting financial outpeformance.
NEWS STORY:
Social Investment Forum Trends Report Tracks Rises and Falls of Socially Responsible Investing
The 2005 report documents increases since 2003 in assets overall in SRI, in SRI mutual funds, and in shareholder advocacy, but decreases in overall screened assets and in screened separate accounts.
NEWS STORY:
Eroding Support for Shareowner Resolutions on Climate Change Revealed by Unpublished Data
In part three of this multi-part article, SocialFunds.com examines unpublished data associated with a recent report on mutual fund proxy voting from The Corporate Library, and finds decreasing support for climate change resolutions.
NEWS STORY:
In the Year of the Oil Boom, Some SRI Funds Look Elsewhere for Strong Performance in 2005
The top-performing socially responsible investing funds compared to their category peers (SRI and non-SRI alike) drew strong performance from pharma, tech, and financials.
NEWS STORY:
Whole Foods, FedEx Kinko's Snap up Renewable Energy Credits
Renewable energy credits continue to gain ground in North America as FedEx Kinko's and organic supermarket chain Whole Foods Market each announce major new purchasing deals.
NEWS STORY:
Unpublished Data Clarifies SRI Proxy Voting on CSR Resolutions
In part two in this multi-part series, SocialFunds.com examines unpublished data associated with a recent report from The Corporate Library, and finds that statistics are not always what they seem at first glance.
NEWS STORY:
The Corporate Library Report on Mutual Fund Proxy Voting Finds Stagnation and Even Retreat
Part one of this multi-part series discusses the report findings on decreasing mainstream fund support for CSR resolutions; subsequent articles examine unpublished data from the research.
NEWS STORY:
GE Comes Clean, Disclosing Costs Related to PCB Cleanup on the Hudson
The move prompts the Tri-State Coalition for Responsible Investment, which characterized some of these expenditures as delay tactics, to withdraw its shareowner resolution requesting this information.
NEWS STORY:
New Domini Funds Invest in the World
Domini charts new territory with the creation of the Domini PacAsia Social Equity Fund and the Domini EuroPacific Social Equity Fund.
NEWS STORY:
Majority-Vote Director Election Shareowner Resolutions To Top 100, Dominate Proxy Season
A memo from corporate law firm Wachtell, Lipton, Rosen & Katz opines that majority-vote elections will become universal, but shareowners still seek proxy access to nominate directors.
NEWS STORY:
Wal-Mart Faces Host of Shareowner Resolutions, From Union-Busting to Sustainability Reporting
The broad range of resolutions suggests that the sustainability commitments announced by Wal-Mart last year did not convince shareowners that the company has solved all its challenges.
NEWS STORY:
Top Five Socially Responsible Investing News Stories of 2005
Socially responsible investing, corporate social responsibility, and microfinance embraced by the mainstream; shareowner advocates withdraw several climate change resolutions as companies agree to report; and exchange traded funds apply SRI strategies.
NEWS STORY:
Alien Tort Claims Act Lawsuit Alleges Slavery and Child Labor on Liberian Firestone Plantation
The International Labor Rights Fund calls this its strongest ATCA case yet because the evidence of forced labor is so clear and Firestone owns and operates the plantation.
NEWS STORY:
Socially Responsible Property Investment Still on the Drafting Table
A blueprint of the fledgling field of socially responsible real estate investment.
NEWS STORY:
Are European Finance Sector Corporate Social Responsibility Initiatives Adequate?
A report from a recent EU conference on CSR suggest so, while a Corporate Responsibility Coalition report says voluntary CSR initiatives and current regulation fall short.
BOOK REVIEW:
Book Review--Megatrends 2010: The Rise of Conscious Capitalism
The newest in the Megatrends series advances a framework for conscious capitalism that highlights socially responsible investing.
NEWS STORY:
Verite Report Identifies Exploitation of Foreign Contract Laborers in Asia and the Middle East
The report uncovers placement fees that exceed legal limits, forced overtime, loans with interest rates of up to 60 percent, and so-called runaway insurance deposits that are not refunded.
NEWS STORY:
EPA Tries to Pull a Disappearing Act on the Toxics Release Inventory
In response to the Environmental Protection Agency proposal to dilute TRI, the socially responsible investing community launches the SaveTRI.org website.
NEWS STORY:
Solar Energy Helps Fuel Socially Responsible Investing
Managers from Winslow Green Growth Fund, New Alternatives Fund, and Portfolio 21 discuss the opportunities and challenges of investing in solar power.
NEWS STORY:
SRI Community Releases Retailer Guidelines to Avoid Violent Video Game Sales to Kids
The Interfaith Center for Corporate Responsibility guidelines address underage exposure to graphic violence, strong sexual content, and racist themes, as well as impact on shareholder value.
NEWS STORY:
Tool for Tracking Greenhouse Gas Reductions Launched at UN Climate Change Conference
The World Business Council for Sustainable Development and the World Resources Institute release a GHG accounting tool for projects to complement their existing corporate-wide tool.
NEWS STORY:
Socially Responsible Investing Advances Anti-Racism in Helping Rebuild New Orleans
In addition to supporting community investment and leveraging influence through shareowner advocacy, social investors can help rebuild in the aftermath of Katrina by naming root problems.
NEWS STORY:
UK Kills Operating and Financial Review of Environmental and Social Information
The move, which was seen as capitulation to the business community, leads to legal challenges.
NEWS STORY:
Australian Report on Globalization of the Mainstreaming of Socially Responsible Investing
New report examines how governments worldwide promote the mainstreaming of SRI, focusing on Australian policy options in a way that exemplifies issues facing other governments.
NEWS STORY:
PROXY Governance Diversifies Proxy Advisory Choice
The new proxy advisory firm expands options for fiduciaries.
NEWS STORY:
First Steps: Corporate Engagement on HIV/AIDS Improves Since Last World AIDS Day
Global Business Coalition on HIV/AIDS Best Practice AIDS Standard represents an important step forward, and companies such as Intel are responding to shareowner dialogue with ICCR.
NEWS STORY:
A Light Bulb Turns On: Goldman Sachs First Investment Bank to Adopt Environmental Policy
The policy matches the robustness of other such policies recently adopted by global financial institutions, but the status of Goldman Sachs as an investment bank brings added significance.
NEWS STORY:
Calvert World Values Fund Tackles Challenges of International Socially Responsible Investing
The fund delivers double-digit three-year returns for shareholders while screening for corporate environmental, social, and governance performance in international and emerging markets.
NEWS STORY:
New International Finance Corporation Sustainability Standards: Watershed or Watered Down?
A group of socially responsible investors express concern over perceived shortcomings in the proposed IFC policy revisions, while the IFC points out where the policies break new ground.
NEWS STORY:
Citigroup Smith Barney Report Seeks to Bridge Divide Between SRI and Traditional Analysis
The report seeks to cross the metaphorical river dividing socially responsible investing analysts, who assess sustainability, from traditional analysts, who examine financial fundamentals.
NEWS STORY:
Fonkoze Helps Transform Microfinance to Reach the Poorest of the Poor in Haiti
After convening a summit on how to modify microfinance to serve the extreme poor, Fonkoze adapts a model pioneered by the Bangladesh Rural Advancement Committee.
NEWS STORY:
Radical/Conservative: Innovest Integrates Sustainability Factors into Financial Analysis
Innovest Strategic Value Advisors reconciles socially responsible investing research with traditional investment research by fusing social, environmental, and financial considerations.
NEWS STORY:
Shareowner Empowerment Is Alive and Well: a Preview of the 2006 Proxy Season
Part two of this two-part article examines the developing trends in shareowner activism as resolutions are filed for the upcoming proxy season.
NEWS STORY:
Forging Ahead from the Crossroads: Reviewing the 2005 Proxy Season
Part one of this two-part article looks back at this year's proxy season, which was highlighted by majority vote director election proposals while part two previews the upcoming proxy season.
NEWS STORY:
One Year On: Global Compact Maps Progress on Mainstreaming ESG Considerations
Two recent reports paint a vivid picture of developments over the past year on integrating environmental, social, and governance considerations into traditional financial analysis.
NEWS STORY:
Consortium Advances Microfinance as an Emerging New Asset Class
The Global Commercial Microfinance Consortium, with its $75 million fund, links mainstream financial institutions to socially responsible investment practitioners with microfinance experience.
NEWS STORY:
Tearing Down the Great Firewall
Social investors issue a statement holding information technology companies accountable for collusion with repressive regimes such as China that stifle dissent expressed on the Internet.
BOOK REVIEW:
Book Review--The Challenge to Power: Money, Investing, and Democracy
John Harrington compiles voluminous evidence to diagnose what ails modern corporatocracy, and prescribes a comprehensive cure with socially responsible investing playing a key role.
NEWS STORY:
Fiduciary Duty Redefined to Allow (and Sometimes Require) Environmental, Social and Governance Considerations
A report commissioned by UNEP FI and prepared by Freshfields attorneys dispels the persistent myth that laws prevent fiduciaries from considering environmental, social, and governance issues.
NEWS STORY:
Insurers at the Crossroads: Intersection Between Insurance and Sustainability is a Busy Corner
Swiss Re exemplifies global sustainability leadership, as the chair of its US arm gives the keynote address at a summit on climate change and insurance in Connecticut.
NEWS STORY:
Counting Stars: Top Morningstar Ratings Bespeak Strong Performance for SRI Funds
Of the 60-odd broadly-screened socially responsible investing funds tracked by SocialFunds.com, three earn 5-star ratings and 12 earn 4-star ratings from Morningstar.
NEWS STORY:
SRI Research from UBS Strikes Balance Between Ethics and Economics
The new socially responsible investing team at UBS quantifies the costs of corporate social and environmental impacts as a means of effecting ethical and economic rectification.
NEWS STORY:
Transforming the Myth of Democratic Shareholder Power into a Reality
A new paper by Harvard Professor Lucian Bebchuk debunks the myth of shareholder power to replace directors, and recommends reforms that could jumpstart the stalled SEC proxy access rule.
NEWS STORY:
Wal-Mart Embraces Sustainability: Does the SRI Community Buy It?
Socially responsible investors cautiously applaud Wal-Mart for committing to social and environmental sustainability, but remain highly skeptical about actual implementation.
NEWS STORY:
Community Development Financial Institutions Spread Like Wild Grass in Indian Country
First Nations Oweesta Corporation serves as a national umbrella organization providing the structural framework and organizational support to fuel current exponential Native CDFI growth.
NEWS STORY:
Institutional Investors Drive Research on Mainstreaming of SRI by Investment Managers
A new line of research at Mercer Investment Consulting rates proxy voting, shareholder engagement, and analysis of environmental, social, and governance issues by mainstream investment managers.
NEWS STORY:
New Index and Exchange Traded Fund Expose Risks and Potentials in Nanotech
The Innovest Nanotech Index assesses social and environmental risks, while the PowerShares Lux Nanotech Portfolio focuses more on investment opportunities.
NEWS STORY:
Scaling Community Investment: Report Addresses Growth in Community Development Finance
An Aspen Institute report serves as the basis of a series of conferences at regional federal reserve banks on how to best scale up community investment.
BOOK REVIEW:
Book Review--The False Promise of Pay for Performance: Embracing a Positive Model of the Company Executive
According to James McConvill, the problem with perverse executive compensation is not managerial power, as an earlier book suggests, but rather the very pay for performance system.
NEWS STORY:
Rising Oil Prices Fuel Investment Returns in Renewable Energy for New Alternatives Fund
The first environmental mutual fund is also globalizing its reach to capitalize on innovative developments in alternative energies in other countries.
NEWS STORY:
Moskowitz Prize Winning Study Correlates Corporate Eco-Efficiency and Financial Outperformance
The paper finds a significant and positive relationship between Innovest eco-efficiency ratings and both market-based and accounting-based financial performance metrics.
NEWS STORY:
Divining the Future of Socially Responsible Investing
A study commissioned by Vancity Credit Union surveys 42 SRI thought leaders to identify trends, opportunities, and obstacles, as well as potential developments that defy prediction.
NEWS STORY:
Business Roundtable May Be Seeing the Light with New Initiative
The SEE Change program hints at a tipping point for US business community engagement of social, environmental, and economic issues, but the program's success may depend on how critics view its performance.
NEWS STORY:
SRI Utilities Fund Flicks Switch to Power Strong Returns
The Flex-funds Total Return Utilities Fund uses environmental and social screening in addition to fundamental analysis to identify sustainable utilities.
NEWS STORY:
Changing of the Guard: Vanguard Pulls a Switcheroo on SRI Index Providers
Vanguard is swapping the benchmark for its socially responsible investing index fund from the Calvert Social Index to the FTSE4Good US Select Index.
NEWS STORY:
Spreading SRI: Goldman Sachs Adds Its Own Twist in Social and Environmental Assessment
As socially responsible investment strategies migrate into the mainstream, mainstream analysts apply social and environmental considerations in innovative ways.
NEWS STORY:
ICCR Online Database Eases Access to Information on Shareowner Resolutions
EthVest, the new web-based tool from the Interfaith Center on Corporate Responsibility, provides access to 2,000-plus shareowner resolutions and 12-plus years of shareowner action.
NEWS STORY:
Lighthouse G3: Third Generation GRI Guidelines Shine a Beacon for Sustainability Reporters
The Global Reporting Initiative dubbed its guidelines overhaul and update "G3," in which it is defining metrics for the Indicators and integrating the Principles with the Indicators.
NEWS STORY:
Insurers Behind the Curve on Addressing and Disclosing Risks of Climate Change
Two reports, one from Ceres and one from Friends of the Earth, concur that climate change is catching insurance companies, which are particularly impacted by global warming, unawares.
NEWS STORY:
GAO Finds Federal Corporate Social Responsibility Programs Widespread But Uncoordinated
The Congressional Human Rights Caucus convenes a briefing today to discuss the findings of a Government Accountability Office report on US government initiatives on CSR.
BOOK REVIEW:
Book Review---An Unreasonable Woman: The True Story of Shrimpers, Politicos, Polluters, and the Fight for Seadrift, Texas
Shrimper-turned-grassroots environmental activist Diane Wilson transforms her experience fighting corporate toxic emissions into a literary work of art imbued with the rugged beauty of the Texas coast.
NEWS STORY:
Dow Jones Sustainability Indexes Launch United States and North America Indexes
The new indexes apply a best-in-class approach that differs from the approach of US socially responsible investing indexes currently available, which focus on exclusionary screening.
NEWS STORY:
Domini Goes Abroad with New European Fund
The fund allows US social investors to diversify their portfolios into a region with attractive investment opportunities and corporations with strong sustainability commitments.
NEWS STORY:
Third Carbon Disclosure Project Survey Finds Increasing Action on Climate Change
CDP3, now sponsored by 155 institutional investors with more than $21 trillion in assets, also reveals some significant footdragging by the Financial Times 500 companies.
NEWS STORY:
Community Investment Bridges the Gap from Destitution to Restitution After Hurricane Katrina
Predominantly low-income African Americans were barred from crossing the bridge out of New Orleans, but now community development bridge loans are spanning the gulf back to stability.
NEWS STORY:
AccountAbility Cooks Up a New Recipe with Stakeholder Engagement Standards
An exposure draft of new AA1000 Stakeholder Engagement Standards to be released next week may prove useful to the socially responsible investment community of shareholder activists.
NEWS STORY:
Taking Account of Corporate Social Responsibility Reports
A Pleon survey of CSR reporting finds differing opinions on best practice for report assurance and verification amongst respondents as well as professional experts.
NEWS STORY:
Business Impacts on Millennium Development Goals: A Virtuous Cycle or a Coin Toss?
A new World Business Council for Sustainable Development report profiles corporate initiatives to alleviate poverty, but focuses less attention on how business may confound such goals.
NEWS STORY:
A Next Generation SRI Strategy: The Henderson Industries of the Future Fund
By extending to its entire portfolio a focus on ten sustainability industries, Henderson has conceived of a novel approach to socially responsible investing.
NEWS STORY:
A Semantic Hermeneutics of SRI
KLD Research & Analytics Founding President Peter Kinder examines limitations of the term socially responsible investing, and identifies both overemphasized and overlooked distinctions.
NEWS STORY:
Banks and Financial Service Providers Figure Prominently in FTSE4Good Attrition, DJSI Matriculation
Corporate social responsibility plays an important role at banks and financial service companies, which are not only recipients but also increasingly purveyors of socially responsible investment.
NEWS STORY:
Blogging SRI
SRI Notes and SRI-Extra harness the strengths of weblogs to comment candidly on developments in socially responsible investment as they happen.
NEWS STORY:
Labor Day List Celebrates Corporate-Union Collaboration
The inaugural list launched by American Rights at Work spotlights positive relationships between companies and their workers.
NEWS STORY:
War Millionaires: Defense Contractor CEO Pay Up 200 Percent Since 9/11
The ratio between CEO and worker pay across the market climbs to 431 : 1, up from 301 : 1 last year, according to a new CEO pay study from United for a Fair Economy and the Institute for Policy Studies.
BOOK REVIEW:
Book Review--The Market for Virtue: The Potential and Limits of Corporate Social Responsibility
David Vogel scrutinizes the business case for CSR and finds no causal link between corporate virtue and profitability, but rather finds a robust niche market for it.
NEWS STORY:
Toxic 100 Uses Enhanced Toxics Release Inventory Data to List Top Corporate Polluters
The Toxic 100 aggregates facility-level TRI data to compute company-wide toxic emissions performance.
NEWS STORY:
Shareowner Resolution Asks Monsanto to Create Ethics Oversight Committee
The company stonewalls inquiries related to the resolution, which springs from a $1.5 million settlement with the SEC and DOJ earlier this year regarding a bribe Monstanto paid in Indonesia.
NEWS STORY:
Human Rights Site Spotlights Bank Investment in Chinese Manufacturer Linked to Forced Labor
The Business & Human Rights Resource Centre posts an article alleging Chinese firm Henan Rebecca uses forced labor, as well as responses from banks implicated through investment for their clients.
NEWS STORY:
World Bank and IMF: Indicators of Investor Opportunity or Red Flags of Investor Risk?
Two academic papers produce empirical evidence that World Bank and International Monetary Fund loan conditions stipulating market reform may prove counterproductive and fuel backlash.
NEWS STORY:
Social(k) Allows Socially Responsible Investment Retirement Portfolios to More Fully Diversify
ExpertPlan administers a 401(k) platform that solves the problem of limited asset class diversification by offering 25 SRI funds from nine fund families than span the spectrum.
NEWS STORY:
Most Canadian Extractive Companies Behind the Curve on Human Rights Policies
Ethical Funds surveys Canadian energy and mining companies and finds less than a handful with comprehensive human rights policies, management systems, and disclosure mechanisms.
NEWS STORY:
Generation Gap: Young Sell-Side Analysts Fail to Fill Void in Sustainability Research
A survey expecting to find the upcoming generation of securities analysts eagerly assessing environmental, social, and governance issues in their recommendations discovers the exact opposite.
NEWS STORY:
Lack of Human Rights Policy Concerns Chevron Shareowners in Light of Unocal Merger
Part two of this two-part article examines the implications of the delay in adopting a human rights policy given the inheritance of Unocal holdings in Burma and Alien Tort Claims Act cases.
NEWS STORY:
New Document Alleges Tie Between Chevron and Human Rights Abuses in Nigeria
Identified in the discovery phase of a case proceeding at state and federal levels, the invoice and receipt indicate Chevron paid Nigerian soldiers for services on a day several villagers were allegedly killed (part one of a two-part article.)
NEWS STORY:
Arthur D Little Study Identifies Trends in Sustainability Innovation
The report finds increasing corporate commitment to sustainability innovation, though it demonstrates room for more growth.
NEWS STORY:
CalSTRS Follows Calvert Blueprint to Capitalize on Money Manager Diversity
Both CalSTRS and Calvert see efforts to identify emerging money managers as smart business and socially responsible as well.
NEWS STORY:
Power to the People: Amnesty Launches Grassroots Shareowner Advocacy Program
The SharePower program encourages ordinary people to tell institutional investors holding shares in their name to vote for shareowner resolutions supporting human rights.
BOOK REVIEW:
Book Review--Profitable Socially Responsible Investing?: An Institutional Investor's Guide
An invaluable tool for fiduciaries considering SRI, the book advances original research finding competitive financial performance for positive screening.
NEWS STORY:
Winslow Green Growth Fund: On the Rise Again
Following up on its stellar 2003 performance, the environmentally-focused fund is again significantly outperforming its peers and benchmark.
NEWS STORY:
Retirement Plans, Fiduciary Duty, and SRI: Complicated But Compatible
A paper published in a professional journal establishes the validity of employing socially responsible investing in retirement plans while also outlining the complexities of the practice.
NEWS STORY:
New Report Links Industrial Business Performance, Environmental Compliance
Report finds industrial competitiveness can be improved by boosting waste management capabilities that also make it easier for companies to comply with environmental regulations.
NEWS STORY:
New Study Shows Benefits of Sustainable Forestry Certification
Third-party verification leads to measurable improvements in the protection of forests, wildlife, and stakeholder rights.
NEWS STORY:
Ethical Investment Research Service Follows Socially Responsible Investing Growth around the Globe
Spawned by the anti-apartheid movement seeking information on companies operating in South Africa, EIRIS has since grown astride with the expansion of SRI.
NEWS STORY:
Shell Doubles Cost Projections of Sakhalin II, Project Critics Redouble Opposition
The largest oil and gas project in the world meets resistance over concerns about its social and environmental impacts, as well as its economic sustainability.
NEWS STORY:
Oneida Nation Loan to Lakota Fund Marks First Intertribal Community Development Financing
While the World Bank Global Fund for Indigenous Peoples covers only developing nations and socially responsible investors have yet to support the Lakota Fund, a fellow tribe fills gap.
NEWS STORY:
The Lowdown from Corporate Governance and Proxy Advisory Experts on ISS-IRRC Merger
Implications of the buyout of the Investor Responsibility Research Center by Institutional Shareholder Services on social research and competition in proxy advisory services.
NEWS STORY:
TIAA-CREF Creates New Director of Social Investing Post But Refrains From Some SRI Strategies
TIAA-CREF enhances its proxy voting and practices some community investment, but finds obstacles to supporting community development financial institutions and SRI venture capital.
NEWS STORY:
Gap and Nike Engage Stakeholders For Assurance Statements on Sustainability Reports
Sustainability reports, whose credibility is enhanced by such stakeholder engagement and assurance statements, are gaining in significance, as KLD indexes add Nike due in part to its report.
NEWS STORY:
Thinking Outside the Big-Box: Report Suggests Smart Growth for Retailer Siting Decisions
Domini Social Investments and Christian Brothers Investment Services provide retailers nine recommendations, examples of best practice and cautionary tales, and helpful resources.
NEWS STORY:
Appalachian Federal Credit Union Celebrates Silver Anniversary With New HQ
With $16 million in assets, AFCU helps counteract poverty in one of the poorest regions of the US by providing fairly priced loans to low-income earners, even those with bad credit histories.
NEWS STORY:
French Pension Reserve Fund Commits 600 Million Euros to Socially Responsible Investment
The fund seeks to drive innovation and best practice through this significant infusion of cash into the European SRI asset management community.
NEWS STORY:
Vigeo-Ethibel Merger Forms New European Socially Responsible Investment Research Firm
The Vigeo Group becomes the largest corporate social responsibility rating agency in Europe, with global operations that the newly-created company plans to expand.
NEWS STORY:
New KLD Index Benchmarks 100 Global Companies Proactively Addressing Climate Change
While the G8 agreement on climate change may amount to hot air, the KLD Global Climate 100 Index will allow investors to support high-profile large-cap companies as well as little-known small caps actively mitigating climate change.
NEWS STORY:
Chicago Climate Exchange Prepares 4-year Extension
There are now over 100 members in the Chicago Climate Exchange (CCX).
NEWS STORY:
Sustainable Summer Reading
Experts in the SRI and CSR arenas offer their recommendations for books to take on vacation this summer.
NEWS STORY:
Annual LOHAS Survey Finds High Consumer Interest in Corporate Responsibility
LOHAS represents a quarter of the US population, according to surveyor Natural Marketing Institute.
NEWS STORY:
The Calvert Group Funds Film on Social Entrepreneurs Airing on Public Broadcasting System
One segment of the film profiles Grameen Bank founder Muhammad Yunus, who pioneered the microcredit model promoted by Calvert Foundation and other community investment advocates.
NEWS STORY:
Panning for Gold: Principle Profits Applies Socially Responsible Investing to Microcaps
Massachusetts firm examines financial, social, and environmental performance to identify future winners.
NEWS STORY:
KPMG Finds More Than Half of Fortune 250 Issuing Standalone Sustainability Reports
Surveying the top 250 companies in the Fortune 500, the percentage rises to almost two thirds when considering annual financial reports that address corporate responsibility.
NEWS STORY:
Merrill Lynch and World Resources Institute Analyze Climate Change Investment Opportunities
The jointly-produced report, the first such collaboration between a mainstream US investment bank and a environmentalist nonprofit, breaks new ground by issuing stock recommendations.
NEWS STORY:
Women's Equity Mutual Fund Supports Businesswomen Through Screening and Now Microfinance
Subadvisor Walden Asset Management provides research on how companies treat women, and Blue Orchard Finance provides a new securitized product supporting microfinance institutions.
NEWS STORY:
The Power of Three: SJF Ventures Sets Precedent in Community Development Venture Capital
SJF and its partners won all three award categories at the annual conference of the Community Development Venture Capital Alliance, which promotes economic, social, and environmental advancement.
NEWS STORY:
Business for Social Responsibility Suggests Improvements to the Global Reporting Initiative
A BSR report surveys 19 member companies on their experience and opinions of sustainability reporting according to GRI guidelines, identifying both strengths and weaknesses.
NEWS STORY:
Mount Holyoke First US College to Dedicate Fund Exclusively to Community Investment
While other schools have devoted some funds to community investment, this move by the Massachusetts-based women's college sets precedent and may lead to its use of other SRI strategies.
BOOK REVIEW:
Book Review--The Next Sustainability Wave: Building Boardroom Buy-In
Longtime IBM Canada executive authors a sequel book, adding new sustainability drivers and providing a comprehensive tool for convincing management to consider sustainability.
NEWS STORY:
Nuclear Power: Still an Environmental Scourge or Now a Climate Change Mitigator?
Despite prominent environmentalist opinions that low greenhouse gas emissions of nuclear power eclipse its problems, socially responsible investment funds still screen nukes out.
NEWS STORY:
Canadian Corporate Sustainability Reporting In Its Infancy, Shows Signs of Growth
A lengthy report released yesterday by the Certified General Accountants Association of Canada provides a primer on sustainability reporting as well as a statistical snapshot.
NEWS STORY:
Gabelli Asset Management Launches SRI Hedge Fund Focused on Catholic Values
The fund uses short-selling and merger arbitrage strategies, and screens out companies involved in abortion, contraception, stem cells, and pornography, as well as the top 50 defense contractors.
NEWS STORY:
Report Equips Investors With Tools To Analyze Climate Risk in Uncertain Policy Atmosphere
Investor Network on Climate Risk and World Resources Institute team up on a report that provides a framework for valuating climate risk in the absence of regulatory clarity.
NEWS STORY:
As HIV/AIDS Migrates Beyond Africa to Other Emerging Markets, So Too Do Business Risks
Concern over HIV/AIDS-related business risks is also shifting from the socially responsible investment community to the mainstream investment community.
NEWS STORY:
Students and States Seek to End Genocide in Sudan Through Divestment Campaigns
Students urge Stanford University to follow in the footsteps of Harvard University by divesting, and urge California senators to pass legislation like Illinois did.
NEWS STORY:
Sustainable Asset Management Signs On to Eurosif Transparency Guidelines
Although SAM already practices comprehensive disclosure, its fulfillment of the European Social Investment Forum guidelines reveals the strengths and weaknesses of standardization.
NEWS STORY:
Microfinance and Donor-Advised Fund Provide Tsunami Relief
A Grameen Foundation USA report examines barriers and opportunities for using microfinance as tsunami relief, and the Calvert Foundation funnels donations to tsunami-ravaged Sri Lanka.
NEWS STORY:
The Ghost of a Shareholder Resolution Haunts ExxonMobil Annual Meeting
Despite an unprecedented 28 percent vote for a first-year climate change resolution and strong support for seven others, the censoring of a resolution quashes shareholder democracy.
NEWS STORY:
The Value of Local Expertise in SRI Research: Jantzi Research Knows Canada
Jantzi Research conducts socially responsible investment research and corporate social responsibility rating and ranking focused on the Canadian market primarily for institutional investors.
NEWS STORY:
Catching a Rising Knife: Sophia Collier Manages the Citizens Value Fund
Whereas former portfolio manager Shelly Meyers tried to catch falling knives, Ms. Collier shifted to a more conservative strategy that has generated much better returns.
NEWS STORY:
Ethical Funds Hires Manning & Napier to Manage Its North American Equity Fund
Former portfolio manager Alliance Capital Management got the boot due to poor performance and a lack of diverse strategies to navigate market cycles.
NEWS STORY:
LISC Commits $300 Million to Preserve Affordable Housing for Low-Income Earners
The Local Initiatives Support Corporation will work with its affiliates, the National Equity Fund and the Community Development Trust, to counteract expiration of affordable housing subsidies.
NEWS STORY:
Report Ranks Best German Corporate Sustainability Reports
Henkel, adidas-Salomon, Volkswagen, BMW, and Deutsche Telekom rank in the top 10 of the 150 German companies surveyed.
NEWS STORY:
IFC Urged to Include Corporate Screens and Address Climate Change in New Standards
A group of socially responsible investment practitioners recommends revisions to new International Finance Corporation social and environmental sustainability standards.
BOOK REVIEW:
Book Review--The Bhopal Reader: Remembering Twenty Years of the World's Worst Industrial Disaster
A collection of primary and secondary sources spanning the twenty-year quest for corporate accountability from Union Carbide and now Dow for the 1984 chemical leak that killed thousands upon thousands.
NEWS STORY:
Institutional Investors Call on SEC, Wall Street, and Companies to Address Climate Risk
The second Investor Summit on Climate Risk focused on information, from the perspectives of disclosure, data generation, and analysis, as a key to transforming climate risk into opportunity.
NEWS STORY:
Virgin Trees in Kleenex: Greenpeace Lambasts Kimberly-Clark Fiber Sourcing
Between 15 and 30 percent of K-C tissue products fiber originates from the Canadian Boreal Forest, according to a Greenpeace report, and only 19 percent of its fiber is recycled.
NEWS STORY:
Long-term Performance of 15 Year-Old Domini 400 Social Index Helps Validate SRI
Since its 1990 inception, the DSI has outperformed the S&P 500, helping quash the widespread perception that socially responsible investing automatically underperforms.
NEWS STORY:
Report Asserts Shareholders Have The Right To Know More About DuPont PFOA Liabilities
The report documents information on perfluorooctanoic acid, a Teflon ingredient associated with human health hazards, which DuPont withheld from federal regulators and investors alike.
NEWS STORY:
Newly-Launched Funds Advance the Maturation of Socially Responsible Investment
Calvert launches two fund of funds comprised of existing Calvert funds across a range of asset classes; Domini releases load-share clone of flagship fund for use by commission-based brokers.
NEWS STORY:
JPMorgan Chase Environmental Policy Triggers Tipping Point for US Bank Sustainability
The JPMC policy surpasses environmental best practice established by Citigroup and Bank of America in some areas, but also lags these sustainability leaders in others.
NEWS STORY:
Parnassus Workplace Fund Launches Today, Along With New Small- and Mid-Cap SRI Funds
While many socially responsible investment funds assess workplace criteria, the Parnassus fund is the first to lead with this issue.
NEWS STORY:
Pharma and Biotech Companies Just Starting to Pass the Transparency Litmus Test
oekom research rates the social and environmental sustainability performance of 27 pharmaceutical and biotechnology companies, and finds disclosure lacking across the board.
NEWS STORY:
Study Argues Less is More in Socially Responsible Investment Research
The proposed method may correlate environmental sustainability to financial performance well, but the radical reductionism seems ill-suited to a field that thrives on diversity of approaches.
NEWS STORY:
Measuring Social Returns on Community Development Venture Capital Investment
The Community Development Venture Capital Alliance releases the Measuring Impacts Toolkit, which attempts to quantify social returns from community investments.
NEWS STORY:
Weyerhaeuser To Screen Shareholder Questions at Annual Meeting Tomorrow
Shifting from the standard open-mic Question and Answer format, the CEO will act as gatekeeper for shareholder questions, a practice viewed by shareholders as restricting their rights.
NEWS STORY:
Climate Change Offers Opportunities: An Interview with Tim Wirth, President of the UN Foundation
At the Ceres conference in Boston last week, SocialFunds.com sat down with Tim Wirth to discuss the opportunities for companies presented by the climate change issue.
NEWS STORY:
CARS Hits the Road: First Seven Community Development Financial Institutions Rated
The National Community Capital Association CDFI Assessment and Rating System has another 11 ratings in the works, and expects to by fully operational by 2007.
NEWS STORY:
Vermont Issues Call to Investment Managers for Environmentally Sustainable Portfolio
Request for Information asks investment managers about their positive and negative screening practices as well as financial performance, particularly of environmentally sustainable portfolios.
NEWS STORY:
SRI Funds Vote Proxies More Conscientiously Than Conventional Funds on Corporate Governance
A study on proxy voting by socially responsible investment and conventional funds finds SRI funds voting against management more often on social, environmental, and governance issues.
NEWS STORY:
Ecuadorian Attorney General Tells ChevronTexaco Shareholders Remediation Agreement May Be Invalid
The questionable validity of the remediation agreement indemnifying ChevronTexaco could carry implications for the lawsuit and beyond (part three of a multipart article).
NEWS STORY:
Asphalt Jungle: Did Oil Drilling by Texaco Create Environmental and Social Harm in Ecuador?
Both ChevronTexaco and lawsuit plaintiffs are finding evidence of contamination during judicial site inspections: the question is, does it pose human health or environmental risks? (part two of a multi-part article.)
NEWS STORY:
Oil Spread Upon the Waters of Ecuador May Return Harm for ChevronTexaco Shareholders
A shareholder delegation surveys the environmental and social impact of oil operations, assessing potential risk from a twelve-year old lawsuit in its judicial inspection phase (part one of a multi-part article).
NEWS STORY:
Globalizing Corporate Citizenship: An Interview with Center for Corporate Citizenship Executive Director Bradley Googins
At the recent CCC annual conference in Boston, SocialFunds sat down with Dr. Googins to survey the roadmap for increasing the uptake of corporate citizenship.
NEWS STORY:
New SRI Managed Account Uses Options to Capitalize on Market Ups-and-Downs
The socially responsible investment team at Piper Jaffray screens the new Redwood Account, which applies the covered options strategy of Kelmoore Investment Company.
NEWS STORY:
Campus Activists and Alumni Donors Want Proxy Voting and Endowment Holdings Disclosure
While some US colleges and universities are enhancing endowment transparency and engaging in socially responsible investment, most oppose disclosure and are also retreating from SRI.
NEWS STORY:
To Screen Or Not To Screen?: That May Not Be The Question For Fiduciaries
Part two of this two-part article examines the opportunities and limitations that social and environmental sustainability screens present to pension funds and other institutional investors.
NEWS STORY:
Shareowner Activists on Sustainability Take Baby Steps Into Sustainability Screening
Part one of this two-part article surveys the landscape of US public pension fund screening of corporate social and environmental sustainability.
NEWS STORY:
Caterpillar Bulldozes Shareowner Concern Over Aiding Alleged Israeli War Crimes
Caterpillar faces a shareowner resolution as well as a lawsuit filed by the family of peace activist Rachel Corrie that cites the Nuremberg Tribunal as precedent in alleging war crime complicity.
NEWS STORY:
Coffee, Tea, or . . . Liqueur? Pax World Alcohol Screen Forces Reluctant Divestment from Starbucks
While Pax World applies a zero tolerance alcohol screen, other socially responsible investment firms set thresholds for retailers based on the percentage of revenues derived from alcohol sales.
NEWS STORY:
Faith-Based and Environmentalist Shareowners Withdraw Climate Change Resolutions at Six Companies
The six oil and gas companies commit to measure, mitigate, and disclose data related to global warming, and evangelicals join their faith-based compatriots in concern over climate change.
NEWS STORY:
Wanted: Socially Responsible Real Estate Investments
An academician searches for socially responsible real estate investment trusts, finding few that fit the definition, as well as disagreement over what criteria define SRI REITs.
NEWS STORY:
EPA Expands Program Recognizing Corporate Environmental Performance
Environmental Protection Agency Performance Track Program certifies a new crop of company facilities, honors company-wide performance, and serves as an indicator for SRI research.
NEWS STORY:
Not Just for Corporations: Six Microfinance Banks on Three Continents Use GRI Guidelines
Microfinance institutions in Africa, Asia, and South America are issuing sustainability reports using Global Reporting Initiative guidelines, as are other non-corporate entities such as GRI itself.
NEWS STORY:
US Representatives Introduce Anti-Predatory Mortgage Lending Bill
The bill, based on an effective North Carolina anti- predatory lending law, and is supported by anti-predatory lending activists such as the Center for Responsible Lending and Fair Finance Watch.
NEWS STORY:
A Mainstream Investment Strategist Comes Home to Socially Responsible Investment
Adam Seitchik views his move from Deutsche Asset Management, where his team managed $60 billion in assets, to Trillium Asset Management, which manages around $1 billion, as upward mobility.
NEWS STORY:
Biting the Hand That Feeds: Mutual Fund Ties to Corporate Clients Can Affect Proxy Voting
Study reveals that individual mutual fund firms do not alter proxy voting whether companies are clients or non-clients, but fund firms with more clients tend to vote and adopt voting policies favoring management.
NEWS STORY:
Taco Bell Agrees to Pay Florida Tomato Pickers A Penny More Per Pound to End Boycott
Shareowner activists will also withdraw their resolution if parent company Yum! Brands agrees to join agricultural supply chain working group to address industry-wide reform.
NEWS STORY:
Comparing Citigroup and JP Morgan Chase Policies: Which Stems Illegal Logging in Indonesia?
Before providing funding, financial institution policies requiring documentation certifying legitimate timber sourcing may help promote sustainable logging in Southeast Asia.
NEWS STORY:
Campaign to Enhance Pharma Industry Accountability Broadens Shareowner Action
The Interfaith Center on Corporate Responsibility sent letters to over 2,750 institutional investors seeking support for three resolutions filed at nine pharmaceutical companies.
NEWS STORY:
Community Credit Union Brings Hope to Low-Income Residents of the Mississippi Delta
Hope Community Credit Union launched a $15 million initiative supported by corporate investment and New Markets Tax Credits to promote economic justice in the Mid-South.
NEWS STORY:
Carrots and Sweets: Tying Executive Remuneration to Extra-Financial Performance Indicators
A report from Henderson Global Investors and Universities Superannuation Scheme finds incentives for extra-financial performance tied to short-term instead of long-term indicators.
NEWS STORY:
MMA Praxis International Fund Buoyed by Strong Performance in Global Markets
Growth is concentrated in sectors and companies that are excluded by social and environmental screens.
NEWS STORY:
Tale of Two Reports: Sustainability Yearbook Compares Extra-Financial to Financial Reporting
Published jointly by Sustainable Asset Management and PricewaterhouseCoopers, the yearbook shows how adding extra-financial data to a financial report increases buy recommendations.
NEWS STORY:
Web Design, Lobbying Disclosure Fuel Co-Operative Bank Win of UK Sustainability Reporting Awards
The award judges distinguished between sustainability and corporate social responsibility reporting, noting that many reports identifying themselves as the former (which are more rigorous) were actually the latter.
BOOK REVIEW:
Book Review--Corporations and the Public Interest: Guiding the Invisible Hand
Steve Lydenberg eloquently describes corporate social responsibility and socially responsible investment, fields in which he is an expert, and recommends mechanisms to fuel their trajectories.
NEWS STORY:
Binding Resolutions and Coordination Circumvent Structural Limitations of Shareowner Action
A preview of the 2005 proxy season reveals tactics that challenge the systemic imbalance of power favoring corporate management and directors over shareowners.
NEWS STORY:
Deafening Silence: Corporate Political Contribution Non-Disclosure Impacts Shareowner Value
A Center for Political Accountability report documents corporate secrecy on political donations, and a Common Cause report reveals how mutual funds fail to support contribution transparency.
NEWS STORY:
Bush Budget Ghettoizes 18 Community Development Programs, Slashing Their Funds
Community development advocates criticize the proposed budget for fiscal year 2006, as the consolidated programs will have to compete with one another for a smaller pool of funds.
NEWS STORY:
First Australian and Israeli Socially Responsible Investing Indexes Launched
The Maala SRI Index goes live on the Tel Aviv Stock Exchange, and both the Australian SAM Sustainability Index and the RepuTex SRI Index will launch imminently down under.
NEWS STORY:
Mixed Messages and Flip-Flops as the SEC Director Nomination Rule Stagnates
While the SEC retracts its promise to allow shareowners to file director nomination resolutions, lawsuits secure shareowner rights to nominate directors.
NEWS STORY:
Benchmarking Corporate Governance on Product Toxicity and Safer Alternatives
The benchmark, released by the Rose Foundation today, addresses the scientific uncertainty of product toxicity through risk assessment and opportunity identification instead of inaction.
BOOK REVIEW:
Book Review--Cause for Success: 10 Companies that Put Profits Second and Came in First
The profiles present a wealth of information supporting the claim that corporate social responsibility can enhance profitability, but little information critiquing this claim.
NEWS STORY:
Academic Study Links Predatory Lending to Increased Risk of Foreclosure
Prepayment penalties increase the risk of foreclosure by 20 percent, while balloon payments raise the risk to almost 50 percent, according to the University of North Carolina study.
NEWS STORY:
Speaking From Both Sides of the Mouth: The Art and Science of Corporate Tax Avoidance
Three reports--by a US tax watchdog, a pair of US academics, and a UK socially responsible investment firm--find troubling trends in corporate tax strategies.
NEWS STORY:
Community Investment Surpasses the $1 Billion Mark at The Rock
The Prudential Financial Social Investment Program, one of the oldest community investment programs in the country, has distributed more than $1 billion before its 30th anniversary.
NEWS STORY:
List of Global 100 Most Sustainable Companies Highlights Alcoa, BP, and Toyota
Canadian corporate social responsibility magazine Corporate Knights sponsored the list, which is based on sustainability ratings from Innovest Strategic Value Advisors.
NEWS STORY:
Two Socially Responsible Investment Exchange Traded Funds Launch
The iShares KLD Select Social Index Fund seeks broad diversification and low risk, while the PowerShares WilderHill Clean Energy Portfolio ETF invests in renewable energy companies.
NEWS STORY:
Calvert Foundation Community Investment Notes Go Electronic
For the first time, individual and institutional investors will be able to support community investment in the same way they transact most other investments--via computer.
NEWS STORY:
Reigning In Raines on Bonuses Based on Earnings Before Restatements
With restatements of financial earnings reaching record levels in 2004, the question arises whether executive bonuses based on incorrect earnings statements should be recalculated.
BOOK REVIEW:
Book Review--Faith and Fortune: The Quiet Revolution to Reform American Business
Fortune magazine writer Marc Gunther documents the growing link between spiritual values, which he defines broadly to include sustainability, and business conduct.
NEWS STORY:
Pax World Tells Its Shareowners That Market Timers Hit Its High Yield Fund in 2003
In a letter to shareowners, Pax said it believes the market timing differed from the abusive forms associated with the mutual funds scandal and that shareowners did not suffer any material losses.
NEWS STORY:
World Economic Forum Report Finds Decreasing Corporate Awareness and Response to AIDS
The report also finds an increase in companies adopting HIV/AIDS policies, a trend confirmed by the Global Business Coalition on HIV/AIDS.
NEWS STORY:
Monsanto $1.5 Million Fines for Genetic Engineering Bribe Illustrates Risks of GE Strategy
The penalties, levied by the Securities and Exchange Commission and the Department of Justice, may lend credence to a shareowner resolution asking Monsanto to report on GE risks.
NEWS STORY:
Enhanced Analytics Initiative Picks Sell-Side Brokerage Houses with Best Intangibles Research
EAI awards seven firms and three runners-up for outstanding sell-side analysis of corporate social and environmental issues.
NEWS STORY:
2004 Socially Responsible Investment Fund Performance
Of the broadly-screened SRI mutual fund tracked by SocialFunds.com, two earned over 20 percent returns, and six others joined them in outperforming more than 80 percent of their SRI and non-SRI peer funds.
NEWS STORY:
World Economic Forum and AccountAbility Report on Mainstreaming Responsible Investment
The report, based on three roundtables convened by the report sponsors, is particularly illuminating in representing attitudes and perceptions toward social and environmental issues of roundtable participants from the mainstream investment community.
NEWS STORY:
ConocoPhillips Bows Out of Arctic Power, Green Century Withdraws ANWR Resolution
The oil company left the group lobbying to open the Arctic National Wildlife Refuge a year ago and neglected to inform resolution filers, who were nonetheless pleased with the development.
NEWS STORY:
Top Five Socially Responsible Investing News Stories of 2004
Shareowner engagement shifted from confrontational to collaborative, sustainability analysis fused with financial analysis, and fiduciary duty expanded to include social and environmental issues.
NEWS STORY:
Addressing the Israel-Palestine Conflict Through Shareowner Action and Selective Divestment
Part two of this two-part article examines the Presbyterian Church USA's policy of "phased, selective divestment" and the Episcopal Church's decision to study the issue before responding.
NEWS STORY:
To Divest or Not to Divest: Ethical Considerations of Addressing the Israel-Palestine Conflict
Part one of this two-part article examines across-the-board divestment from companies profiting off Israeli policies that harm Palestinians, and the case against divestment.
NEWS STORY:
Latin American Forest Products Company Illustrates Best Practice Sustainability Reporting
Terranova issues its second Global Reporting Initiative-based sustainability report, exhibiting many exemplary practices such as stakeholder engagement and external verification.
NEWS STORY:
Calvert First SRI Firm to Issue Global Reporting Initiative-Based Sustainability Report
While many small-to-medium-sized enterprises consider sustainability reporting prohibitive, Calvert finds value in doing what it asks publicly traded companies to do.
NEWS STORY:
Report Finds Bank Sector Assessment of Impact on Disadvantaged Communities Lacking
AccountAbility and Business for Social Responsibility to apply their new assessment methodology to the pharmaceutical, agricultural, and extractive sectors next.
NEWS STORY:
Bushwick Cooperative Federal Credit Union Democratizes Financial Service in Brooklyn
This three-and-a-half year-old community development credit union fills the gap left vacant by formal sector financial institutions, empowering members through financial education.
NEWS STORY:
Dell and Starbucks First Companies to Endorse Calvert Women's Principles
The two companies publicly commit to implement the code in their business practices, setting a precedent for other companies to follow in promoting parity for women in business.
BOOK REVIEW:
Book Review--Capitalism at the Crossroads: The Unlimited Business Opportunities in Solving the World's Most Difficult Problems
According to author Stuart Hart, sustainable global enterprise holds the key to reducing poverty, reversing environmental destruction, and even counteracting terrorism.
NEWS STORY:
UNEP Report Takes First Steps Toward Understanding Slow Consumer Uptake of Sustainability
While advancing interesting findings, the report is marred by lack of adequate documentation.
NEWS STORY:
Unocal Alien Tort Claims Act Case Settlement Boosts Corporate Accountability
Some interpret the settlement between the energy company and Burmese villagers as setting a practical precedent for holding companies responsible for indirect human rights abuses.
NEWS STORY:
New Indexes Seek to Link Corporate Governance and Diversity to Financial Performance
A DiversityInc index and joint FTSE-ISS indexes try to answer if diversity and corporate governance, respectively, correlate to financial outperformance.
NEWS STORY:
Divesting from Genocide: More Conversation with Eric Reeves of the Divest Sudan Campaign
In part two of this two-part interview, Mr. Reeves discusses the significance of actions by the investment and legislative communities to address the humanitarian crisis in Sudan.
NEWS STORY:
Divesting From Genocide: A Conversation with Eric Reeves of the Divest Sudan Campaign
In part one of this two-part interview, Mr. Reeves explains why shareowner action and direct dialogue with companies operating in Sudan is not an option in the context of genocide.
NEWS STORY:
Corporations Fight to Keep Political Contributions in the Closet
The Center for Political Accountability expands its campaign by advancing shareowner resolutions asking companies to disclose political donations and to provide a business rationale for them.
NEWS STORY:
Two Reports Reveal Proxy Votes Rubber-Stamp Management Recommendations
One finds the majority of top US mutual funds voting against climate change resolutions, the other finds contradictory proxy by Canadian pension fund managers.
NEWS STORY:
Ford HIV Report Exemplifies New Shareowner Action Strategy
Ford joins Coca-Cola, Cinergy, and others heeding shareowner resolutions requesting reporting on social and environmental issues, but it remains to be seen how far the strategy will extend.
NEWS STORY:
Bhopal, Climate Change Require Shift From Legal Liability to Moral Accountability
A report by SustainAbility examines how increasing legal liabilities are blending into moral liabilities, forcing companies to face social and environmental accountability.
NEWS STORY:
Gap-Verite Collaboration Exemplifies Award-Winning Practice on Social Responsibility
Verite wins a Social Capitalist Award for labor standards monitoring such as its work with the Gap, whose Social Responsibility Report earns a Social Reporting Award.
NEWS STORY:
ICCR Spends World AIDS Day Preparing Shareowner Resolutions for Upcoming Proxy Season
This year's resolution has expanded to cover operations in India and China as well as Africa, and ICCR is campaigning for pharma companies to provide better access to medicines for children.
NEWS STORY:
FTSE4Good Raises the Bar With New Supply Chain Labor Standards Criteria
Launched last week, the new criteria allow companies already in FTSE4Good indexes limited time to implement policies, systems, and eventually reporting on supply chain labor standards.
NEWS STORY:
Enhanced Analytics Initiative Offers Sell-Side Analysts Cash to Cover Intangibles
A group of European institutional investors launched EAI to encourage mainstream investment analysts to include issues such as corporate governance and climate change in their research.
NEWS STORY:
Rating Corporate Sustainability: Behind the Scenes at Oekom Research
SocialFunds.com visits Oekom Research to get a more in-depth look at corporate social and environmental sustainability research.
NEWS STORY:
European Socially Responsible Investment Firms Let the Sun Shine In
The European Social Investment Forum releases transparency guidelines covering seventeen socially responsible investment practitioners.
BOOK REVIEW:
Book Review--The Fortune at the Bottom of the Pyramid: Eradicating Poverty through Profits
C. K. Prahalad seeks to solve global poverty by turning the bottom of the socioeconomic pyramid from victims of globalization into its beneficiaries through consumerism.
NEWS STORY:
Integrating Sustainability at Xerox: A Talk with VP for Environment, Health, and Safety Jack Azar
In part two of this two-part interview, Mr. Azar discusses how Xerox integrates sustainability into its policies and practices.
NEWS STORY:
Zero Waste and Industrial Ecology: A Talk with Xerox VP for Environment, Health, and Safety Jack Azar
In part one of this two-part interview, Mr. Azar discusses the history of waste-free policies and practices at Xerox.
NEWS STORY:
Al Gore and David Blood Graft Sustainability Research into Traditional Investing Analysis
The former US vice president and the former Goldman Sachs CEO launch a new investment firm whose research team fully integrates sustainability with fundamentals.
NEWS STORY:
Sustainability Reporting Improves, But Falls Short on Linking to Financial Performance
A new benchmarking survey correlates the top 50 corporate non-financial reports to credit ratings, but reports themselves fail to link financial and sustainability performance.
NEWS STORY:
Paul Hawken Critiques Socially Responsible Investment: Is He On Target or Off Base?
A Natural Capital Institute report criticizes SRI for lack of standards and transparency on screening and holdings for shareowner action.
NEWS STORY:
Graphing Graft: Transparency International Finds Rampant Corruption in 60 Countries
The tenth annual Corruption Perceptions Index highlights the acute problem of corruption in oil-rich countries.
NEWS STORY:
How to Open Your Own Socially Responsible Investment Retirement Portfolio
In this real-life profile, an SRI-oriented financial planner advises a 34 year-old woman how to transfer her non-SRI retirement account into a portfolio of SRI mutual funds.
NEWS STORY:
Is CRA the Right Remedy for Race-Based Disparity in Mortgage Lending?
A new study finds significant disparity between lending to minorities versus whites, but a Community Reinvestment Act expert questions the focus on CRA as the cure.
NEWS STORY:
European Utilities Top Oekom Sustainability Rankings, US Utilities Crowd the Bottom
Corporate sustainability rating firm Oekom Research rewards climate change mitigation and enhancing energy accessibility for the economically disadvantaged in its latest report.
NEWS STORY:
SEC Decision on Shareowner Nomination of Corporate Board Directors Still Pending
Supporters and opponents of the proposed SEC rule granting shareowner access to the proxy to nominate directors advance their causes while the rule languishes in limbo.
NEWS STORY:
Moskowitz Prize Study Removes Doubt Over Link Between Strong Corporate Social and Financial Performance
The study analyzes over 50 published studies on corporate social performance and corporate financial performance, and finds an unambiguous positive relationship.
NEWS STORY:
Fonkoze Partners With Zanmi Lasante to Link Microfinance and Health in Haiti
The largest microfinance institution in Haiti teams with a renowned community health provider to launch a new bank and hospital in a rural village.
NEWS STORY:
Socially Responsible Investment Assets On the Up and Up Down Under
The Ethical Investment Association in Australia reports that SRI assets have doubled in the three years it has been producing benchmarking surveys.
NEWS STORY:
Are Electronic Components Producers Ready for Environmental Regulation?
A Citizens Advisors study surveys 26 electronics components companies, and projects that many of them will be unprepared for European Union laws taking effect in 2006.
NEWS STORY:
FDIC Proposes Rule Watering Down Community Reinvestment Act Requirements
The SaveCRA.org website promotes opposition to the rule change, posting information and a sample letter to file with the FDIC before the end of the comment period tomorrow.
NEWS STORY:
Abortion, Sexual Orientation Reveal Diversity of Socially Responsible Investment
The umbrella of socially responsible investment encompasses a wide diversity of values, running the gamut from social progressivism to cultural conservatism.
NEWS STORY:
Book Inspires Symposium on How Governance Codifies Excessive Executive Pay
The book is written by Harvard Law Professor Lucian Bebchuk and Berkeley Law Professor Jesse Fried, and the Symposium is hosted by Columbia Law School.
NEWS STORY:
Shell and BP Top Innovest CSR Ratings of Integrated Oil and Gas Companies
Marathon and several companies operating in emerging markets sink to the bottom of the rankings of corporate social responsibility performers.
NEWS STORY:
Calvert Fills Gap in Small- and Mid-Cap SRI Value Categories With Two New Funds
The two new funds add diversification options to the socially responsible investment (SRI) palate.
NEWS STORY:
Morningstar Grades Mutual Fund Governance, SRI Funds Rate Well
Morningstar Fiduciary Grades find relatively few areas of weak performance for those socially responsible investment mutual funds rated.
NEWS STORY:
Memo From: SRI Analysts To: Companies--Use GRI Sustainability Reporting Platform!
A coalition of 17 socially responsible investment firms recommends that companies disclose social and environmental data using the Global Reporting Initiative.
NEWS STORY:
Global Survey of Socially Responsible Investment Finds Information Lacking
Questionnaire respondents express frustration over the reliability of social and environmental information on their SRI holdings, and financial planner ignorance of SRI.
NEWS STORY:
Disclosure: How SEC Proxy Voting Rules May Shift the Definition of Fiduciary Duty
Will mandatory disclosure of mutual fund proxy voting records drive change in the general definition of fiduciary duty, or will the principle of undivided loyalty prevent this development? Part two of a two-part article.
NEWS STORY:
Fiduciary Duty, Undivided Loyalty, and Socially Responsible Investment Performance
Does the principle of undivided loyalty preclude fiduciaries from practicing SRI, or will competitive SRI financial performance shift the definition of fiduciary Duty? Part one of a two-part article.
NEWS STORY:
Apple Added, Time Warner and Petro-Canada Deleted from FTSE4Good Index Series
The biannual review of FTSE4Good constituents resulted in the addition of 79 companies and the deletion of 23.
NEWS STORY:
Blueberries, Bats, and Barns: How Community Investing Aids Small Family Farms
The Community Investing Program of the Social Investment Forum and Co-op America honors nine community investment organizations for assisting small family farms.
NEWS STORY:
Material Risks of Genetic Engineering Undisclosed by Food Companies, Report Says
A survey of the 35 largest food processors finds only two mentioning genetic engineering risks in their annual reports, and none analyzing these risks.
NEWS STORY:
Institutional Investors Can Now Hedge Climate Risk With New Investment Strategy
The strategy combines the investment algorithms of State Street Global Advisors with an environmental overlay from Innovest Strategic Value Advisors.
NEWS STORY:
As Socially Responsible Investment Grows in Japan, FTSE4Good Launches New Index
Following on the introduction of the first SRI index by Morningstar Japan last year, FTSE4Good unveils the second SRI index covering the Japanese market exclusively.
NEWS STORY:
EHS Auditors Slow to Take Up GRI
Part two of this two-part article addresses changes Environmental, Health & Safety auditors are making in response to the Global Reporting Initiative.
NEWS STORY:
Sarbanes-Oxley Moves EHS Auditing From the Backroom to Boardroom
Part one of this two-part article addresses changes Environmental, Health & Safety auditors are making in response to Sarbanes-Oxley; part two addresses changes prompted by the Global Reporting Initiative (GRI).
NEWS STORY:
SEC Asked to Let the Sun Shine on Corporate Political Contributions
A group of state and city treasurers and a watchdog group sent letters to the Securities and Exchange Commission requesting mandatory political contributions disclosure.
NEWS STORY:
Report Advocates Breaking Down Barriers to Global Corporate Sustainability Reporting
An Association of Chartered Certified Accountants and CorporateRegister.com report tracking sustainability reporting worldwide finds its growth hampered by obstacles.
NEWS STORY:
About Face: Cintas Settles Lawsuit and Supports Vendor Standards Resolution
In his apology, Tim Smith of Walden Asset Management highlights the need for accurate information, which Cintas promises to supply in the report requested by the resolution.
NEWS STORY:
Conference Promotes Sustainability Through Corporate Collaboration
The Society for Organizational Learning (SoL) Business Innovation for Sustainability Forum calls for cooperation amongst companies as well as with stakeholders.
NEWS STORY:
New Web Tool Identifies Climate Risk and Opportunity in 24 Biggest Mutual Funds
KLD Research & Analytics information reveals both positive and negative corporate performance on climate change, allowing retail investors to lobby their mutual funds.
NEWS STORY:
First Alternative Energy Index Spawns Exchange Traded Fund
The WilderHill Clean Energy Index, published by the American Stock Exchange, will serve as the basis for an exchange traded fund from PowerShares Capital Management.
BOOK REVIEW:
Book Review--Corporate Social Opportunity: Seven Steps to Make Corporate Social Responsibility Work for Your Business
Book provides extensive real-world examples and hypothetical scenarios to help business people transform corporate responsibility from risks to opportunities.
NEWS STORY:
Dow Jones Sustainability Indexes Add General Electric and Drop Electrolux
The annual change in the DJSI is based on recent assessment of corporate economic, environmental and social performance.
NEWS STORY:
As Mutual Funds Prepare to Reveal Proxy Votes, Guideline Disclosure Acts as Acid Test
Investor-friendly website accessibility to mutual funds' proxy voting guidelines may signal proxy voting record accessibility and investor-friendly proxy voting.
NEWS STORY:
Got Water? Report Recommends Solutions for Businesses To Address Water Scarcity
A new Pacific Institute report outlines the impacts on business of water scarcity, and offers ten steps companies can take to help solve these problems.
NEWS STORY:
Tax Cuts Slash Google IPO Capital Gains Payments to $11 Million
A new report uses the Google initial public offering to illustrate how tax cuts reward individuals while robbing programs supported by taxes that incubate business success.
NEWS STORY:
US Banks Criticized for Involvement in China State Bank Bonds
Nongovernmental organizations and socially responsible investing firms criticize US banks for selling Chinese bonds that fund socially and environmentally problematic projects.
NEWS STORY:
First and Largest International Microfinance Bond Issued
Grameen Foundation USA joins forces with two socially responsible investment firms to issue a $40 million bond to support microfinance institutions in nine developing nations.
NEWS STORY:
Handbook Reports on Sustainability Practice in South Africa
Trialogue and the African Institute of Corporate Citizenship join forces to create a comprehensive text placing South African sustainability practice in a global context.
NEWS STORY:
How Do SRI Firms Walk Their Talk When It Comes to Corporate Social Responsibility?
Socially responsible investment firms take particulars such as scale and sector into account in their CSR expectations at the companies they own and in their own operations.
NEWS STORY:
Accuracy of Dow Chemical Statements and SEC Filings Questioned
On behalf of two socially responsible investment firms, an environmental attorney asks the SEC to probe the factuality of public statements and filings made by Dow Chemical.
NEWS STORY:
The Value of Transformation: The Catholic Equity Fund
After transforming itself from three actively managed funds into one index fund, the Catholic Equity Fund works to transform corporate practice through shareowner advocacy.
NEWS STORY:
CRAFund Goes Retail
Formerly available only to institutional investors, the Community Reinvestment Act Qualified Investment Fund is now available to individuals through Charles Schwab.
NEWS STORY:
Climate Change a Nuisance? Nine State and City Attorneys General Bet a Lawsuit On It
The first climate change lawsuit against corporations, aimed at the top five US carbon dioxide emitters in the utility industry, cites federal common law on public nuisance.
NEWS STORY:
Microcredit Development Fund Helps Transform Household Scraps into Sustainable Entrepreneurship
The Deutsche Bank Microcredit Development Fund seeks to alleviate poverty worldwide by helping microfinance institutions grow to scale and achieve sustainability.
NEWS STORY:
Can Corporate Social Responsibility Put the Brakes on HIV in Africa?
A field report from Africa by Dan Rosan of the Interfaith Center on Corporate Responsibility.
NEWS STORY:
Stakeholder Engagement, Verification, and Transparency in ISO Social Responsibility Standards: An Interview with ISO Secretary-General
International Organization for Standardization Secretary-General Alan Bryden discusses these issues and more in the final installment of this three-part interview article.
NEWS STORY:
ISO and Social Responsibility--A Closer Fit Than You Might Think: An Interview with ISO Secretary-General
International Organization for Standardization Secretary-General Alan Bryden discusses divergences and convergences of ISO technical standards with social responsibility guidelines (part two of a three-part article).
NEWS STORY:
Answering the Market Call for Social Responsibility Standards: An Interview with ISO Secretary-General
International Organization for Standardization Secretary-General Alan Bryden discusses the history and implications of ISO's new social responsibility standards (part one of a three-part article).
NEWS STORY:
Keeping Score: The Mathematics and Linguistics of the World Bank Extractive Industries Review
World Bank Group management and socially responsible investors interpret EIR recommendations differently.
BOOK REVIEW:
Book Review--Raising the Bar: Creating Value with the United Nations Global Compact
Primarily a guidebook for companies to navigate Global Compact participation, the book also reports on a study suggesting a Global Compact market premium.
NEWS STORY:
Sell-Side Analysts Confirm the Materiality of Sustainability Issues in UN Report
A United Nations Environment Programme Finance Initiative report documents belief in the materiality of corporate social responsibility issues by 11 brokerage houses.
NEWS STORY:
House Votes to Kill Mandatory Expensing of All Stock Options, Sending Bill to Senate
The House's passage of the Stock Option Accounting Reform Act reverses Sarbanes-Oxley's commitment to protect independence of FASB as the arbiter of accounting rules.
NEWS STORY:
Two Socially Responsible Investing Funds Generate Double-Digit Year-to-Date Returns
The Ariel Fund and the Pax World Growth Fund perform well in the first half of this year.
NEWS STORY:
Assets in CDFIs Grew Twice as Fast as Those in Commercial US Banks
A new study of community development financial institutions highlights several key distinctions between CDFIs and mainstream financial institutions.
NEWS STORY:
Senate Calls on the SEC to Enforce Environmental Disclosure Regulations
A series of reports issued at a Senate symposium detail how insufficient disclosure of environmental liabilities results from lack of SEC enforcement.
NEWS STORY:
Harvard Study Correlates Staggered Boards With Lower Shareowner Value
Evidence presented in the study suggests that staggered boards do not simply reflect lower firm value, but rather that they bring about lower firm value.
NEWS STORY:
How HIV/AIDS Impacts Corporations, and How Corporations Can Impact HIV/AIDS
The World Economic Forum and the International Labor Organization report on the impact of HIV/AIDS on business, but will companies respond by addressing HIV/AIDS?
NEWS STORY:
The Responsible Summer Reading List
Fifteen recommended books on corporate sustainability and our general welfare
NEWS STORY:
Trends in Sustainability Reporting
Part two in this two-part article looks at how the present trends in sustainability reporting project into the future.
NEWS STORY:
A Brief History of Sustainability Reporting
Part one of this two-part article outlines the history of sustainability reporting up to the present; part two projects trends in sustainability reporting into the future.
NEWS STORY:
Does Supreme Court Validation of Alien Tort Claims Act Apply to Corporations?
Human rights organizations say yes, lawyers representing corporations in ATCA cases say no, but the Supreme Court opinion itself remains vague on the issue.
NEWS STORY:
How Sustainable Is the Asia Pulp & Paper Sustainability Action Plan?
WWF Indonesia calls off its partnership with Asia Pulp & Paper after the company fails to implement commitments to end sourcing of illegal timber (part three of a three-part article.)
NEWS STORY:
Calvert Group Launches Code for Corporations to Profit by Promoting Gender Equality
Calvert links equality for women to sustainable development, making the ethical and business cases for implementing its corporate code of conduct for empowering women.
NEWS STORY:
Community Investment Benefits Middle Income Earners in Los Angeles
The Genesis Workforce Housing Fund develops the first institutional investor-backed project promoting home-ownership for middle-income earners in the US.
NEWS STORY:
Indonesian Forestry and International Finance Move Toward Sustainability
A profile of Asia Pulp and Paper and ABN AMRO focusing on their efforts to reverse environmental, social, and financial devastation through sustainable practices (part two of a three-part article).
NEWS STORY:
How Unsustainable Forestry Practices in Indonesia Impact Sustainable Practice in the US
Part one of a three-part article exploring the complex global relationship between sustainable and unsustainable forestry practices.
NEWS STORY:
Auditing Sustainability Reporting
As sustainability reporting increases in significance, so too does the auditing of it.
NEWS STORY:
Report Finds CSR Policies on the Rise in Asia, Europe, and North America
University of Hong Kong survey overturns some assumptions about the development and prevalence of corporate social responsibility policies.
BOOK REVIEW:
Book Review--Profits With Principles: Seven Strategies for Delivering Value with Values
Pertinent case studies that illustrate corporate social responsibility best practice abound in this well-structured and well-written book.
NEWS STORY:
Community Investment Institutions Managed By and Benefiting African Americans
Generations Community Credit Union, Carver Bancorp, and UrbanAmerica are three African American managed community investment institutions.
NEWS STORY:
Rule Proposal Requires Canadian Mutual Funds To Disclose Proxy Votes and Guidelines
New Canadian Securities Administrators rule closely resembles the US Securities and Exchange rule.
NEWS STORY:
The Emergence Story Behind Indigenous Peoples Rights Screens
Socially responsible investment firms also engage in shareowner action on indigenous peoples rights issues.
NEWS STORY:
Governance Overhaul: An Interview with Tyco Corporate Governance VP Eric Pillmore
Mr. Pillmore speaks candidly with SocialFunds.com about rebuilding reputation and trust, engaging stakeholders, and increasing transparency.
NEWS STORY:
US Socially Responsible Investment Indexes Diverse in Style, Study Says
A study presented at a recent socially responsible investment conference finds variability in US SRI index construction.
NEWS STORY:
Are the Equator Principles Sincere or Spin?
A report calls into question whether signatory banks are complying with the Equator Principles.
NEWS STORY:
Sarona Supports Microfinance To Help Alleviate Poverty in Developing Regions
The Sarona Global Investment Fund finances starch processing in Paraguay, a foundation supporting small enterprises in Romania, and a savings and loan cooperative in Haiti.
NEWS STORY:
New SRI Index Optimizes Social and Environmental Performance and Controls Risk
The KLD Select Social Index caters to institutional investors by underweighting companies with weak social and environmental performance instead of excluding them.
NEWS STORY:
UK Prepares To Mandate Environmental and Social Reporting
Proposed guidelines for Operating and Financial Review reports require British company directors to discuss the effects of social and environmental issues on business.
NEWS STORY:
ExxonMobil Mocks Climate Change, Maine Treasurer Finds It No Laughing Matter
Senior management remains resolute in its disbelief of climate change risk.
NEWS STORY:
New Bank of America Policy Sets Best Practice on Climate Change in US Bank Sector
Environmentalist organization Rainforest Action Network helps usher Bank of America into the vanguard of US banks improving their environmental responsibility.
NEWS STORY:
Baker & McKenzie Paper Concludes Social Investing Consistent with Fiduciary Duty
The opinion of a major US corporate law firm sets the bar for the fiduciary case for SRI.
NEWS STORY:
Companies Ignore Majority Votes on Shareowner Resolutions
Some high-profile companies are taking advantage of the non-binding nature of shareowner resolutions.
NEWS STORY:
Carbon Disclosure Project Report and Greenhouse Gas Protocol Release Second Editions
Climate change initiatives get a significant boost this month with the release of two revised editions of a report and a protocol for addressing global warming.
NEWS STORY:
Matchmaker Boosts FDIC Limit to $5 Million for Community Development Banks
A new system allows community development banks to trade portions of deposits, upping the amount covered by the Federal Deposit Insurance Corporation to $5 million.
NEWS STORY:
Shareowner Resolution Withdrawn as JP Morgan Chase Addresses Environmental Risks
A group of socially responsible investment advocates withdrew a shareowner resolution from JP Morgan Chase when the company established an office of environmental affairs.
NEWS STORY:
Dell First US Computer Company to Commit to a Global Recycling Goal
In its 2004 Sustainability Report, Dell commits to increase its fiscal year 2005 computer recycling 50 percent over fiscal year 2004 levels.
NEWS STORY:
ChevronTexaco Faces Class-Action Lawsuit in Ecuador Over Environmental Damage
A resolution asking ChevronTexaco to report on new initiatives to address its legacy of environmental damage in Ecuador gained nine percent support from shareowners.
NEWS STORY:
Daiwa Launches Japan's Newest Socially Responsible Investment Fund
The new Daiwa SRI Fund will focus not only social and environmental issues, but also corporate integrity, ethics compliance, and transparency.
NEWS STORY:
Avon Shareowners Withdraw Two Resolutions Before Annual Meeting
Avon agreed to hold annual board of director elections and to phase out phthalates from its products, prompting shareowners to withdraw their resolutions on these two issues.
NEWS STORY:
Three More Companies Address Climate Risk, So Shareowners Withdraw Resolutions
Shareowners withdrew climate change resolutions at Southern Company and TXU, which agreed to issue reports, and at Reliant, which agreed to expand disclosure.
NEWS STORY:
Jewish Institutional Investors Form Shareholder Engagement Network
The Jewish Shareholder Engagement Network is based on the notion that Jewish tradition supports such shareowner action as active proxy voting and dialogue with companies.
NEWS STORY:
First-Year Resolution on HIV/AIDS Garners Significant Support at Pharmaceuticals
The HIV/AIDS pandemic threatens human life and shareowner value, according to a shareowner resolution filed at companies in the pharmaceutical, oil, and beverage sectors.
NEWS STORY:
Sustainability Report Awards Reward Disclosure on Environmental, Social Performance
Canada-based Suncor and Dofasco, Texas-based Dell and Kinko's, and Michigan-based Ford win sustainability reporting awards from CERES and ACCA.
NEWS STORY:
The Diversity of Diversity Best Performance Rankings
A comparison of the DiversityInc list of the top 50 companies for diversity and a report from Diversity Best Practice and Business Women's Network that reviews 45 such lists.
NEWS STORY:
Community Foundations and Community Investment: An Obvious But Underused Link
The Vermont Community Foundation recently broke new ground by launching a first-of-its-kind community investment program with the support of the Calvert Foundation.
NEWS STORY:
Forget Sit Ins: Student Activists Now Promote Socially Responsible Investment
Students and alumni from 22 prestigious colleges and universities launch the Responsible Endowment Coalition to urge schools to practice socially responsible investing.
NEWS STORY:
Tyco Recommends Vote in Favor of Shareowner Resolution, Joining Three Others
While companies routinely recommend voting against shareowner resolutions, four companies so far this proxy season have bucked this standard approach.
NEWS STORY:
Women Directors Rare Even in Developed Economies, According to First Global Study
A UK-based socially responsible investment research firm study of companies in global developed economies finds only seven percent of board seats occupied by women.
NEWS STORY:
Thirteen Pension Funds Call on SEC to Require Disclosure on Climate Change Risk
Institutional investors ask the Securities and Exchange Commission to issue a clarification that climate change is a material risk which must be disclosed in filings.
NEWS STORY:
Oekom Rates Food and Beverages Industry Average in Sustainability Performance
The example of Starbucks illustrates how Oekom Research rates food and beverage companies as average performers in social and environmental sustainability.
NEWS STORY:
Stock Option Dilution Rose But Granting Slowed in 2003, Anticipating Mandatory Expensing
Right after the Financial Accounting Standards Board called for mandatory option expensing, the Investor Responsibility Research Center released its yearly dilution study.
BOOK REVIEW:
Book Review--The Best Business Stories of the Year: 2004 Edition
Ethics, disclosure, labor relations, executive compensation, and insider trading are among the topics related to socially responsible investment in this collection of business articles.
NEWS STORY:
Social and Environmental Best Practice Linked to Financial Outperformance in Electric Sector
Innovest releases another sector report correlating progressive social, environmental, and governance practices and policies with financial outperformance.
NEWS STORY:
Socially Responsible Investment Runs the Gamut on Animal Welfare and Testing
Investors who prioritize respect for animals have a range of options, from funds that use shareowner action alone to specialty SRI firms with stringent animal welfare screens.
NEWS STORY:
Nuke Producer GE Energy Buys Solar Producer AstroPower
The GE Energy buyout of AstroPower represents a Catch 22 for social investors, who generally seek to support renewable energy but screen GE for its nuclear production.
NEWS STORY:
Diversifying Asset Allocation in Socially Responsible Individual Retirement Accounts
Diversifying in SRI IRAs can be challenging, as asset allocation in retirement accounts has few steadfast guidelines.
NEWS STORY:
Into Africa: The Paradox of Socially Responsible Investing in the Developing Continent
To support sustainability in Africa, social investors can invest directly outside the SRI community, or else they can pursue community investment and shareowner action.
NEWS STORY:
Wisconsin Energy Reaps External and Internal Benefits from Social and Environmental Reporting
Wisconsin Energy won accolades for its Global Reporting Initiative-based report, which also raised internal awareness of social and environmental performance.
NEWS STORY:
A Passage to India: Report Asks If BT Offshoring Is Socially Responsible
A recent report by SustainAbility assesses whether offshoring and corporate social responsibility are compatible, focusing on the case of British Telecom.
NEWS STORY:
Philips Extends Sustainability Expectations to Suppliers, Including Child Labor Ban
In its 2003 Sustainability Report, Philips Electronics introduced provisions requiring its 50,000 suppliers worldwide to practice social and environmental sustainability.
NEWS STORY:
Business Group Links Social and Environmental Performance with Shareowner Value
A recent Global Environmental Management Initiative report adds to the growing body of evidence correlating social and environmental performance with shareowner value.
NEWS STORY:
Social Investors Urge World Bank to Adopt Extractive Industries Review Proposals
If adopted by the World Bank, EIR recommendations could serve as a social and environmental best practice benchmark for oil, gas, and mining companies.
NEWS STORY:
Corporate Social and Environmental Performance Varies Widely Across Far-East Asia
A Kingsway survey finds differences in cultural norms and government policies in East Asian countries dictate diverse corporate social and environmental performance.
NEWS STORY:
Occidental To Adopt Formal Human Rights Policy, Shareowners Withdraw Resolution
Successful shareholder action results in steps towards Occidental formalizing its human rights policy.
NEWS STORY:
MMA Praxis Eliminates Soft Dollar Arrangements
MMA Praxis joins Domini in disavowing soft dollar use; other socially responsible investment firms continue the practice within legal limits while some consider cessation.
NEWS STORY:
Starbucks Provides Loan Capital for Coffee Farmers
Starbucks is providing a $1 million loan to the Calvert Foundation to support microfinance to Latin American coffee farmers, and it answers critics of its Fair Trade commitment.
NEWS STORY:
Corporate Responsibility Index Launched in Australia
A coalition of nonprofit, media, and accounting organizations recently introduced the first index to measure corporate social responsibility in Australia.
NEWS STORY:
Socially Responsible Index Funds: Passive Management Means Less Expense
SRI index funds offer competitive performance with lower expense compared to actively managed SRI funds.
NEWS STORY:
Disney Vote and California Bill May Affect SEC Shareowner Director Nomination Rule
The significant withhold vote at Disney and a bill being considered by the California State Legislature may have a bearing on the SEC's proposed rule on shareowner director nominations.
NEWS STORY:
Report on SRI Research Organizations Characterized as Valuable But Also Controversial
A recent report from SustainAbility, onValues, and Mistra provides valuable insight on SRI research organization methodologies but lacks some needed transparency.
NEWS STORY:
Welcome to the Jungle: CSR Questionnaire Incompatibility Hampers Applicability
A Nordic Partnership report finds wide variance in questions posed in corporate social responsibility surveys, calling into question their comparability and applicability.
NEWS STORY:
Report Urges Foundations to Vote Their Proxies
Surprisingly few foundations regularly vote their proxies, according to a new report written by the As You Sow Foundation, an advocate of active proxy voting.
NEWS STORY:
Students Call for More Disclosure on University Hedge Fund Investments
Frustrated by the opacity of universities' hedge fund investments in terms of their social and environmental impacts, students request dialogue with hedge fund firm.
NEWS STORY:
Piper Jaffray Consulting Division Marries Best Asset Managers with Customized Social Screening
Socially responsible investment consultant can apply social screens to best asset managers, even if they do not usually practice SRI.
NEWS STORY:
Critics Challenge Christian Aid Report as Biased, Cynical, and Inaccurate
Part two of this two-part article considers defenses of corporate social responsibility against attack by a recent Christian Aid report.
NEWS STORY:
Report Favors International Regulation Over Voluntary Corporate Social Responsibility
A recent report by Christian Aid argues against the voluntary aspect of CSR and for international regulation. Part one of this two-part article discusses support for the report; part two presents criticism of the report.
NEWS STORY:
Study Finds Loans to Low-Income Borrowers No More Risky than Conventional Loans
Research released yesterday finds that community development financial institutions serving low-income clients have a lower rate of loan write-offs than mainstream banks.
NEWS STORY:
Five Companies Comply with Terms of Shareowner Resolutions in One Week
In less than seven days, Dover, Masco, Cinergy, AEP, and Bank of Montreal all abided by the requests of investors, a major achievement for shareowner action.
NEWS STORY:
Fifth Third Bank Shareowners To Decide on Sexual Orientation Non-Discrimination Policy
In an unusual move, Fifth Third Bank is leaving it up to its shareowners to decide by their proxy vote whether or not the company will adopt a sexual orientation non-discrimination policy.
NEWS STORY:
Moving From the Business Case for SRI and CSR to the Fiduciary Case
The business case for socially responsible investing and corporate social responsibility may not drive individual investors, but the fiduciary case engages institutional investors.
BOOK REVIEW:
Book Review--What Matters Most: How a Small Group of Pioneers is Teaching Social Responsibility to Big Business, and Why Big Business is Listening
Seventh Generation CEO Jeffrey Hollender relates the historical development of socially responsible business, revealing its interconnections and assessing its pros and cons.
NEWS STORY:
CRA Fund Helps Transform Environmental Liabilities Into Social Assets
The CRA Fund supports environmental remediation of brownfield sites, helping transform them into socially beneficial projects.
NEWS STORY:
Cintas Defamation Suit Challenges Shareowner Free Speech Rights
Cintas files a defamation lawsuit against Tim Smith of Walden Asset Management for alleging that the company uses sweatshop labor in Haiti.
NEWS STORY:
California Treasurer Proposes Environmental Screening for State Pension Investments
California Treasurer Phil Angelides pitches the Green Wave Initiative to CalPERS and CalSTRS, the state's huge pension funds, asking them to support green investments.
NEWS STORY:
The Leviticus Fund Helps Shelter the Homeless and Provide Care for Children
In its third decade, the Leviticus 25:23 Alternative Fund lending program continues to grow and now offers a return for social investors.
NEWS STORY:
Meritas Launches First Canadian SRI Rebalancing Fund of Funds
The Meritas Balanced Portfolio Fund uses Modern Portfolio Theory to build a single fund that balances asset allocations between its five existing funds.
NEWS STORY:
ExxonMobil Contributed Five Percent of Global Greenhouse Gas Emissions in Last 120 Years
Friends of the Earth releases two studies that attribute one twentieth of global climate change to ExxonMobil. The company questions these findings, as it questions climate change.
NEWS STORY:
French SRI Assets and Funds Grow in 2003
Novethic documents growth in the number of socially responsible investing funds available in France, as well as the amount of SRI assets under management.
NEWS STORY:
Study Dissects SRI Performance by Different Social and Environmental Factors
A Pictet study correlates financial performance with specific aspects of socially responsible investment, such as corporate governance and stakeholder relations.
NEWS STORY:
Restatements of Annual Filings Continue to Rise
While restatements of annual filings are still increasing, overall restatements, including quarterlies, are starting to taper off, according a summary report by Huron Consulting.
NEWS STORY:
Community Investment Advocates Question Bank of America/FleetBoston Merger
Bank of America is responding to critics of its proposed merger with FleetBoston.
BOOK REVIEW:
Book Review--The Corporate Responsibility Code Book
This book is no thriller, but it is indispensable for anyone seeking to grasp the complex landscape of the multitudinous tools that measure corporate social responsibility.
NEWS STORY:
Sarbanes-Oxley Fails to Kill Corporate Insider Loans, Some of Which Pay Posthumously
A new study from The Corporate Library documents the prevalence of insider loans, and the persistence of benefits beyond the grave.
NEWS STORY:
The Rashomon Effect: Why Do Innovest and Oekom Rate Toyota's Environmental Performance So Differently?
A Japanese film may help investors understand the discrepancy between the environmental ratings of Toyota by Innovest and Oekom.
NEWS STORY:
Gazing in the Crystal Ball: 2004 Preview of Socially Responsible Investing Performance
An overview of the trends that may affect SRI performance in the year ahead, among other issues to mull over when considering socially responsible investment.
NEWS STORY:
SRI Domestic Equity Funds Edged Out By Their Non-SRI Counterparts in 2003
Socially responsible investment domestic equity mutual funds slightly lagged their non-SRI counterparts, while the Calvert Social Index outpaced the S&P 500 for the year.
BOOK REVIEW:
Book Review--True to Our Roots: Fermenting a Business Revolution
Paul Dolan, president of Fetzer Vineyards, promotes sustainable business practices by relating his personal transformation committing to organic growing practices.
NEWS STORY:
World Economic Forum Survey Projects Mainstreaming of Corporate Citizenship
The report credits socially responsible investing, among other trends, for influencing mainstream investors to take corporate citizenship more seriously.
NEWS STORY:
Robert Zevin, a Father of Socially Responsible Investing
Robert Zevin helped establish socially responsible investing by fusing traditional investment theory with social justice advocacy, among many other achievements.
NEWS STORY:
Shareowner Resolution Calls Costco on Cultural Crimes in Mexican Site Development
Shareowners express concern that Costco, which demolished a culturally significant site in Mexico to build a store, may be demolishing its reputation in the process.
NEWS STORY:
Film Depicts Environmental and Social Reporting Disappearing in SEC Black Hole
A documentary film by environmental attorney Sanford Lewis reveals the SEC's failure to enforce its rules requiring companies to disclose environmental and social liabilities.
NEWS STORY:
Many Companies Cannot Verify Whether Their Palm Oil Is Produced Sustainably
An ISIS Asset Management report finds that few companies can trace the source of their palm oil up their supply chain to confirm whether or not it is produced sustainably.
BOOK REVIEW:
Book Review--The Company: A Short History of a Revolutionary Idea
This new book betrays the promises of its title except in its brevity, according to Peter Kinder, president of KLD Research and Analytics.
NEWS STORY:
The Evolution of Business for Social Responsibility: A Talk with BSR CEO Robert Dunn
In a SocialFunds interview, Business for Social Responsibility CEO Robert Dunn discusses how BSR has evolved while CSR has matured over the past decade.
NEWS STORY:
‘Tis the Season to Bar Sexual Orientation Discrimination
The New York City Employees Retirement System files a shareowner resolution asking 11 Fortune 500 companies to explicitly bar sexual orientation discrimination.
NEWS STORY:
Underreporting of Material Environmental Liabilities Persists
Despite clear documentation of the problem, multiple solutions proposed, and petitioning to enhance enforcement, corporate underreporting of material environmental liabilities continues.
NEWS STORY:
Top Five Social Investing News Stories of 2003
The major social investing news stories of the year include SEC reforms, stock exchanges mandating social, environmental, and corporate governance practices, and climate risk assessment defined as a fiduciary duty.
NEWS STORY:
2004 Proxy Season Glimpse: HIV/AIDS Shareowner Campaign Shifts from Conflict to Collaboration
The 2004 proxy season has commenced with an instance of cooperation between a company and its shareowners (Part two of a two-part article.)
NEWS STORY:
2003 Proxy Season Roundup: Shareowner Action Success Measured On and Off the Record
While the 2003 proxy season produced some impressive numbers, shareowner advocates also define success in ways that are not easily quantifiable (Part one of a two-part article.)
NEWS STORY:
Board Pay, Board Say
Two new reports assess the past year for directors of corporate boards, examining issues such as director pay, workload, and independence.
BOOK REVIEW:
Book Review--How Does it Pay to Be Green?
An empirical study finds a positive relationship between environmental and economic performance when environmental strategies are factored into business decisions.
NEWS STORY:
Women Sit in Less Than a Seventh of Fortune 500 Board of Director Seats
According to a new Catalyst report, women will inhabit less than a quarter of Fortune 500 board director seats by 2023, though regulations and shareowner action may change this.
NEWS STORY:
US Community Investment Assets Nearly Double Over the Past Two Years
Community development financial institution assets rise 84 percent from 2001 to 2003, making community investment the fastest growing segment of socially responsible investing.
NEWS STORY:
Watchdog Fund Established to Take a Bite Out of Corporate Governance Malfeasance
The new investment vehicle is part mutual fund, part shareowner advocate, and part hedge fund.
NEWS STORY:
Morgan Stanley Study Correlates Sustainability with Financial Outperformance
Morgan Stanley's joint study with Oekom Research finds that sustainability leaders in the MCSI World Index financially outperformed sustainability laggards over the past four years.
NEWS STORY:
From Pallet Shacks to Cinderblock Homes: Microfinance Loans on the Mexican Border
CHF/Mexico addresses an acute housing shortage by providing technical assistance and affordable loans to low-income families.
NEWS STORY:
Two New Real Assets Funds Attract $25 Million in Their First Two Months
The Real Assets Social Leaders Fund and Social Impact Balanced Fund are off to a flying start, re-invigorating social investing in Canada.
BOOK REVIEW:
Book Review--The Sustainable Company: How to Create Lasting Value Through Social And Environmental Performance
A new book makes the business case as well as the moral case for sustainability through socially and environmentally responsible business practices.
NEWS STORY:
UN Institutional Investor Summit Considers Opportunities of Addressing Climate Change
Institutional investors make the business case and investment case for assessing, reporting, and mitigating climate change in a summit at the UN (part two of a two-part article).
NEWS STORY:
Institutional Investors Send Wall Street Wake-Up Call to Address Climate Risk
At a UN Summit, state treasurers and other institutional investors issue a ten-point call for action for companies, investment analysts, and fiduciaries to address climate risk (part one of a two-part article).
NEWS STORY:
Carmakers and Carbon Constraints: Who Will Capitalize and Who Will Cave?
A new report assesses ten auto companies’ relative readiness for reduced carbon emissions and increased fuel efficiency regulations in Japan, the EU, and the US.
NEWS STORY:
Australian SRI Funds Outperform Their Benchmark Over the Short- and Long-Term
A new AMP Henderson report finds Australian socially responsible investing outperforms the S&P/ASX 200 over one-, two-, three-, and five-year periods.
NEWS STORY:
Johannesburg Securities Exchange to Introduce Socially Responsible Investing Index
In addition to requiring listed companies to comply with King II codes, JSE is also launching an SRI index based on triple bottom line and corporate governance practices.
NEWS STORY:
Survey Says: NGOs Believe Corporate Social Responsibility Reports That Reveal Faults
In a recent survey, nongovernmental organizations say they believe CSR reports that disclose noncompliance, poor social or environmental performance, and big challenges.
NEWS STORY:
Socially Responsible Investments Remain Largely Untouched by Late Trading Scandals
The SRI industry's long-term investment horizons and ethical underpinnings insulate it from the market timing debacle, though it may be impossible to escape all its effects.
NEWS STORY:
Innovest’s Eco-Enhanced Portfolios Outperform Their Benchmarks
Contra Costa County Employees’ Retirement Association achieves both actual and simulated out-performance by tilting its portfolios using Innovest’s EcoValue21 ratings.
NEWS STORY:
As, Bs, and Cs: New Rating Tool Grades Community Development Financial Institutions
The National Community Capital Association launches CARS: the CDFI Assessment and Ratings System.
NEWS STORY:
British American Tobacco Reluctantly Exits Myanmar
Bowing to pressure from activists and the UK government, BAT sold its interest in its Myanmar operation, though it will continue to license its cigarette brands there.
NEWS STORY:
European Socially Responsible Investment Retail Funds Increase in Number, Decrease in Assets
A recent study reports that the number of European SRI retail mutual funds increased since the end of 2001 while the amounts of assets held by them decreased.
NEWS STORY:
Social Investment Forum’s Trends Report Tracks Rises and Falls in SRI
Assets in screened portfolios grew since 2001, while overall assets in socially responsible investments fell during the same time period, according to SIF’s 2003 Trends Report.
BOOK REVIEW:
Book Review--The Soul of Capitalism: Opening a Path to a Moral Economy
William Greider’s new book seeks to explain the contradictions between capitalism and social responsibility, and then seeks to reconcile these differences.
NEWS STORY:
Moskowitz Prize-Winning Study Correlates Lower Corruption With Higher Shareowner Value
The Social Investment Forum awards its annual Moskowitz Prize to a study that correlates lower political corruption with higher corporate value in international markets.
NEWS STORY:
Emerging Markets Represent Underdeveloped Opportunities for SRI, Study Says
An International Finance Corporation report on socially responsible investing in emerging markets finds obstacles and opportunities.
NEWS STORY:
SRI Short Selling: an Oxymoron, or Mutually Reinforcing Strategies?
Socially responsible investing strategies rarely include short selling, though this tactic may in fact eclipse other SRI strategies in its ability to effect change.
NEWS STORY:
Coordinate US Corporate Social Responsibility Policy, Kenan Institute Study Group Says
A study group convened by the Kenan Institute recommends synchronizing US public policy on CSR and asking the SEC to consider requiring triple bottom line reporting.
NEWS STORY:
Vanguard Fund Generates Strong Returns by Replicating the Calvert Social Index
The Vanguard Calvert Social Index Fund outperformed more than four-fifths of its peers in the overall US mutual fund universe with similar investment styles over the past year.
NEWS STORY:
Henderson Wins Global Competition for Socially Responsible Pension Fund Proposals
Henderson Global Investors’ plan combines innovation with practical experience to win an award for promoting long-term social responsibility in pension fund management.
NEWS STORY:
American Library Association Takes a Pass on Socially Responsible Investing
The ALA recently decided not to employ SRI on its endowment, though it may allow portions of its portfolios to be invested in SRI mutual funds.
NEWS STORY:
Community Development Financial Institutions Help Rebuild Post-9/11
The National Community Capital Association unveils a report on the impact of CDFIs on post-9/11 lower Manhattan.
NEWS STORY:
SRI Growing Amongst European Institutional Investors and in Asian Emerging Markets
Two new reports document the status and prospects of sustainable and responsible investment in Asian emerging markets and with European institutional investors.
NEWS STORY:
Give Peace a Chance: Support Women in Business
The Business Council for Peace helps women create sustainable businesses by providing the technology for them to train in computer and entrepreneurial skills.
NEWS STORY:
Is Molina Healthcare a Socially Responsible Investment? Don't Ask The Company
The president and chairman of Molina Healthcare leaves it up to investors to decide for themselves if the company is a socially responsible investment.
NEWS STORY:
Resolutions Ask TIAA-CREF to Practice the Good Corporate Governance It Preaches
TIAA-CREF faces several resolutions asking it to reconcile its strong corporate governance advocacy with what filers describe as its own weak governance policies.
NEWS STORY:
Socially Responsible Investment Through 401k Plans Comes of Age
Since the late 1990s, there has been a boom in socially responsible investment through 401k retirement plans.
NEWS STORY:
SEC Opens Proxy to Shareowner-Nominated Directors, Critics Bemoan Triggers, Thresholds
New SEC rules will allow shareowners to use companies' proxies to nominate director candidates, but corporate governance advocates point out potential pitfalls.
BOOK REVIEW:
Book Review--The Naked Corporation: How the Age of Transparency Will Revolutionize Business
In making the business case for corporate transparency, a new book cites studies on the competitive performance of socially responsible investment.
NEWS STORY:
Social Investors Recommend Best Practice for Coalbed Methane Extraction
A shareowner action campaign proactively asks companies to practice environmental and social responsibility in extracting coalbed methane.
NEWS STORY:
Walden Asks Companies to Allow Shareowners to Ratify Auditors
Walden Asset Management wrote letters to 45 companies asking them to allow shareowners to ratify the board's choice of auditor, a procedure that is routine.
NEWS STORY:
European Smallcap SRI Index Launches
Kempen Capital Management and SNS Asset Management fill a market gap with what they call the first SRI index in the world to focus on small capitalization companies.
NEWS STORY:
ISIS Product Offers Shareowner Action without Portfolio Management
Institutional investors can use ISIS's Responsible Engagement Overlay to promote better social and environmental performance at companies through dialogue, proxy voting, shareowner resolution filing, and research.
NEWS STORY:
Dow, GM, and Johnson & Johnson Lead the Charge to Green Power
The 12 members of the Green Power Market Development Group have purchased almost 100 megawatts of green power from renewable resources since last summer.
NEWS STORY:
Identifying the Effects of Interlocking Directorships on Board Independence
A new report from The Corporate Library uncovers ways interlocking directorships impede board independence, though shareowner activists could leverage this interlock to push corporate governance reform.
NEWS STORY:
Sustainable Computer Producers Perform Better than Less Sustainable Counterparts
Innovest adds social considerations to its environmental assessment in its recent computer industry report, and sustainability still outperforms business-as-usual.
NEWS STORY:
SRI Money Market Accounts Earn Competitive Financial Returns
In addition to offering social and environmental returns, socially responsible investing money market accounts generate competitive financial returns compared to their non-SRI counterparts.
BOOK REVIEW:
Book Review--24 Days: How Two Wall Street Journal Reporters Uncovered the Lies that Destroyed Faith in Corporate America
A new book tells the behind-the-scenes story of Enron's demise and the detective work that revealed the chicanery in Enron's corporate practices and culture.
NEWS STORY:
FTSE4Good Indexes Add Bank of America, Delete Molson and ConocoPhillips
As a result of its semiannual review, FTSE4Good adds Bank of America, a company deleted by DJSI, demonstrating yet another distinction between the indexes.
NEWS STORY:
The Implications of the Nike and Kasky Settlement on CSR Reporting
Although Nike reached an agreement with Marc Kasky to end his lawsuit, the settlement's effect on corporate social responsibility reporting remains to be seen.
NEWS STORY:
Shareowner Action Prompts Procter & Gamble to Sell Fair Trade Coffee
In response to a shareowner action campaign, Procter & Gamble launched a Fair Trade Certified coffee; critics challenge the company to commit more fully to sustainability.
NEWS STORY:
AFL-CIO Advocates Active Ownership as a Way to Enhance Shareowner Value
The AFL-CIO coordinates resolution filing, assesses managers' proxy voting records, and identifies worker-friendly investments for union pension funds.
NEWS STORY:
Ave Maria Funds Promote Catholic Values Through Morally Responsible Investing
Ave Maria Mutual Funds, which screen abortion, pornography, non-marital partner benefits, and Planned Parenthood contributors, represent another side of SRI.
NEWS STORY:
Dow Jones Sustainability Indexes Add Toyota, HP, Eject DaimlerChrysler, Bank of America
After its annual review, DJSI adds companies it deems as having strong sustainability performance to its index universe, and deletes companies that lag in sustainability practice.
NEWS STORY:
Influential Institutional Investors to Form National Coalition for Corporate Reform
The National Coalition for Corporate Reform, championed by state treasurers and pension funds, seeks to restore investor confidence through better corporate governance.
NEWS STORY:
Community Investment Bond Helps House the Learning Disabled in the UK
The UK arm of Triodos Bank issues a bond that supports Golden Lane Housing, a UK charity that provides housing to people with learning disabilities.
NEWS STORY:
New Proxy Voting Recommendation Service Provides Choice, Objectivity
Investor Responsibility Research Center teams with Glass, Lewis & Co. to provide proxy voting recommendations and voting services to institutional investors.
NEWS STORY:
Boise's Plan to End Old Growth Harvesting: Trend-Setting or Too-Little, Too-Late?
Boise Cascade bans logging old growth forests in the US and deters it elsewhere, but other companies may not jump on this bandwagon if its time has already passed.
NEWS STORY:
Environmental Best Practice Tied to Financial Outperformance in Food Retail Industry
Innovest's latest report shows that environmental leaders in the global food and drug sector financially outperform the sector's environmental laggards.
BOOK REVIEW:
Book Review--The Planetary Bargain: Corporate Social Responsibility Matters
Author Michael Hopkins' ideas about the global spread of corporate social responsibility are obscured by a lack of precision in revising and updating this book that was originally published five years ago.
NEWS STORY:
Morningstar Japan Launches First SRI Index Covering Japanese Market Exclusively
The introduction of an socially responsible investing index by Morningstar Japan represents a significant milestone in the development of SRI in Japan.
NEWS STORY:
Quakers and Socially Responsible Investing: A Natural Match
The Friends Fiduciary Corporation practices both positive and negative screening, in keeping with Quaker values that prioritize social justice and non-violence.
NEWS STORY:
UN to Hold Corporations More Responsible for Human Rights and the Environment
A UN sub-commission adopted a resolution calling for transnational corporations to be held more accountable for human rights protection and environmental stewardship.
NEWS STORY:
Jazz and Orchids Provide Inner City Hope and Opportunity
An interview with William Strickland, CEO of the not-for-profit Manchester Bidwell Corporation in Pittsburgh, reveals he is continuing to push the boundaries of inner city economic development.
NEWS STORY:
Rio Tinto to Rehabilitate Uranium Mine
Environmental activists have long been advocating for restoration of the Jabiluka uranium mine, which is located in the Kakadu World Heritage Area in Northern Australia.
NEWS STORY:
Corporate Governance Ratings Take Different Approaches to Produce Similar Results
GovernanceMetrics International rates corporate governance in relation to other companies, while Institutional Shareholder Services rates in relation to market indexes.
NEWS STORY:
Institutional Investor Practices SRI Through Shareowner Action
The Nathan Cummings Foundation prioritizes shareowner action by actively voting its proxies, filing shareowner resolutions, and dialoguing with companies on social issues.
NEWS STORY:
Will Ford's Transparency Affect Its Performance?
While lauding the transparency of Ford's 2002 Corporate Citizenship Report, analysts caution that it remains to be seen whether such reports and the Global Reporting Initiative reporting guidelines will help improve corporate performance (part two of a two-part article).
NEWS STORY:
Ford's Latest CSR Report Increases Transparency by Using GRI Guidelines
Ford's decision to base its 2002 Corporate Citizenship Report on Global Reporting Initiative (GRI) guidelines will help analysts get a fuller picture of the company's performance (part one of a two-part article).
NEWS STORY:
Report Finds Oil Companies' Social and Environmental Practices Unsustainable
Oekom Research's report criticizes the oil industry's uneven progress in sustainable development, but those in the industry question the report's findings.
NEWS STORY:
Domini Social Bond Fund Supports Community Development Financial Institutions
The Domini Social Bond Fund allocates almost seven percent of its assets to CDFIs while also performing like a classic intermediate-term bond fund.
NEWS STORY:
The Needmor Fund Utilizes a Muscular Definition of Fiduciary Responsibility
Susan Stranahan, treasurer of the Needmor Fund, discusses socially responsible investing as a fiduciary duty and tier A money managers who have a social mission.
NEWS STORY:
Critics Find Study of SRI Underperformance Fundamentally Flawed
A recent Wharton School study that finds underperformance by socially responsible investment mutual funds is based on an unsound research design, according to critics.
NEWS STORY:
A High Flyer and a Smooth Sailer Top SRI Equity Funds
Two socially responsible investment equity funds place in the first and second percentiles of their peer funds over a five-year period.
NEWS STORY:
The ABCs of SRI Mutual Fund Share Classes
The complexities of different share classes, or fund loads, can confuse investors--brokers and finance writers can either help clarify and further obfuscate.
BOOK REVIEW:
Book Review--The New Financial Order: Risk in the 21st Century
A Yale economist proposes innovative ways to use risk management as a tool to counteract economic inequality and livelihood uncertainties, among other things.
NEWS STORY:
Survey Finds SRI Fund Managers See Bright Future in Europe
A recent survey of fund managers conducted by UK Social Investment Forum and Thomson Extel reveals high expectations for significant SRI growth in Europe. Those surveyed also ranked top SRI firms and analysts.
NEWS STORY:
ACCION Creates Self-Sufficiency by Providing Microfinance to Microenterprises
Social investors can support ACCION's international and national microlending initiatives, which seek to break the cycle of poverty through several mechanisms.
NEWS STORY:
Climate Change Litigation Could Affect Companies’ Market Value
In the near future companies could face the risk of being on the receiving end of climate change lawsuits, a development that stands to impact shareowner value.
NEWS STORY:
Foundation Begins to Reconcile Investments with Programs
The Fetzer Institute uses screens and community investment to align a small portion of its assets with its social and environmental goals.
NEWS STORY:
SEC Report on Shareowner Nomination of Directors Opens Some Doors, But May Close Others
A recent SEC report recommends several solutions for allowing shareowners access to director nominations, but social investors worry it may not solve some problems.
NEWS STORY:
Philadelphia Innovates Solutions to Predatory Lending for Low- and Middle-Income Homeowners
Two programs supported by the city of Philadelphia help low- and middle-income homeowners exposed to predatory lending when seeking loans to rehabilitate their houses.
NEWS STORY:
Johannesburg Securities Exchange Requires Compliance with King II and Global Reporting Initiative
Companies listed on the Johannesburg Securities Exchange will soon have to comply with King II corporate governance codes as well as Global Reporting Initiative guidelines.
NEWS STORY:
First Steps for the U.S. Business Council for Sustainable Development
Carlos Guimaraes, chair of the U.S. Business Council for Sustainable Development, speaks about the new organization's strong membership, partnerships, and projects.
NEWS STORY:
Members of Congress Consider Social and Environmental Disclosure in SEC Filings
A group of Senators and Representatives summoned a symposium on the need for social and environmental disclosure by companies in their SEC filings.
NEWS STORY:
Report Connects the Dots Between Corporate Governance and Climate Change Risk
A report reveals the degree to which 20 major global companies use corporate governance to address climate change risks and opportunities.
NEWS STORY:
Sustainability Leaders in Food Sector Produce Healthy Returns
Innovest finds that global food products companies with higher sustainability ratings perform better financially than companies with weaker environmental performance.
NEWS STORY:
Eurosif Releases Transparency Guidelines for European SRI Funds
Eurosif asks socially responsible investment firms to disclose their policies and procedures around SRI issues.
NEWS STORY:
A Marriage of Like Minds: Enterprise, Rockefeller, and Fahra-Joyce Haboucha
Enterprise Global Socially Responsive Fund manager Fahra-Joyce Haboucha considers social and financial issues jointly and prioritizes strong governance and global research.
NEWS STORY:
Summer Reading List, SRI-Style
Prominent figures in the socially responsible investing community recommend SRI- and CSR-related books, and as well as some great titles from outside the field.
NEWS STORY:
Pension Funds and Mutual Funds Influence Their Holdings Differently
Academic studies discern between how pension funds and mutual funds wield influence as institutional shareowners, but the studies lack methods sophisticated enough to evaluate the effects of SRI.
NEWS STORY:
McDonald's Phases Out Animal Growth Promotion Antibiotics from Global Supply Chain
McDonald's, which is often the first in its sector to introduce sustainable practices, will end use of animal growth promotion antibiotics, but does this make the company socially responsible?
NEWS STORY:
U.S. Drops in Country Sustainability Ratings
The United States fell eight places in Oekom Research's Country Rating Report this year, mirroring its poor performance on other similar country sustainability ratings.
NEWS STORY:
Huh?!?: CEO Pay Goes Up in 2002 While the Stock Market Goes Down
The Corporate Library's report shows how CEO pay increased in 2002 despite the fact that the stock market declined significantly, a trend that does not sit well with investors.
NEWS STORY:
Apria Democratizes Director Elections
Apria Healthcare Group set a precedent as the first company to allow shareowners to nominate candidates for board of director elections.
NEWS STORY:
Attitudes and Actions Behind the Growth of SRI in Japan
Alongside the highly visible events that demonstrate the spread of socially responsible investing in Japan are shifting attitudes and less visible actions (part two of a two-part article).
NEWS STORY:
The Sun is Rising on SRI in Japan
A major Tokyo public pension fund commits to socially responsible investing, an indication of Japan's growing interest in SRI (part one of a two-part article.)
NEWS STORY:
Investors Managing $3 Trillion Back Blair's Extractive Industries Transparency Initiative
Developing countries are being prodded to support oil and mining companies disclosure of payments the companies make to governments.
NEWS STORY:
First Dutch Passively-Managed DJSI-based Index Fund Launched
Theodoor Gilissen Bankiers has launched a passively-managed fund that tracks a Dow Jones Sustainability Index, the first such product in the Netherlands.
NEWS STORY:
Two Environmental SRI Funds Generate Attractive Returns
In the midst of a stagnant economy, two SRI funds that invest in environmental best performers have generated year-to-date returns in the 20- to 35-percent range.
NEWS STORY:
IRRC Platform Combines Corporate Governance and Social Responsibility Research
The Investor Responsibility Research Center merges its corporate governance research tool with its social responsibility research tool in a web-based platform.
NEWS STORY:
Shareowner Advocates Tell SEC How Best to Democratize Board Election Process
The question is not whether shareowners should have access to the proxy to nominate directors, but what percentage of stock ownership qualifies shareowners to make nominations.
NEWS STORY:
Catholic Institutional Investors Launch an SRI Fund of Funds Hedge Fund
In order to fill a market niche, five Catholic healthcare organizations joined forces to launch an SRI fund of funds hedge fund that is available to other institutional investors.
BOOK REVIEW:
Book Review: Eco-Service Development: Reinventing Supply and Demand in the European Union
A new book presents the business case for promoting sustainable development through "eco-services," or the switch from a product-oriented to a service-oriented culture.
NEWS STORY:
Will Equator Principles Deliver Social and Environmental Responsibility from Banks?
Social investors and NGOs question whether the Equator Principles will serve their stated purpose of increasing global banks' social and environmental responsibility.
NEWS STORY:
Nike and Others Increase Transparency into Their Global Labor Practices
The Fair Labor Association releases a report today on the internal and independent external monitoring of apparel and footwear manufacturers' global labor practices.
NEWS STORY:
FedEx and UPS Green Up Their Fleets With Hybrid Electric and Fuel Cell Vehicles
FedEx introduces hybrid electric delivery vehicles, while UPS is investing in fuel cell technology.
NEWS STORY:
World's Largest Coffee Traders Agree to Sustainability, but How Committed Are They?
Rainforest Alliance's recent agreement on sustainability with the world's two largest coffee traders holds promise but the devil may be in the details.
BOOK REVIEW:
Book Review: Saving the Corporate Soul & (Who Knows?) Maybe Your Own
A new book recommends a series of corporate reforms that mirror those advocated by the corporate social responsibility and socially responsible investment communities.
NEWS STORY:
Religious Institutions Issue Benchmarks for Corporate Social Responsibility Performance
A global coalition of religious activists have published the third edition of a comprehensive set of guidelines for corporate social and environmental performance.
NEWS STORY:
Blacklisting, Voicetracking, and Payola: Clear Channel and the Effects of Media Consolidation
Shareowner activists ask Clear Channel to ban blacklisting, while musicians and other activists oppose FCC plans to deregulate media industries.
NEWS STORY:
Corporate America Less than Halfway to Gender Parity
A Conference Board report documents the evident and the less-apparent obstacles to achieving male-female equality in the workplace.
NEWS STORY:
TIAA-CREF Adds Positive Screens and Replicates Russell 3000 Performance
TIAA-CREF constitutes its Social Choice Equity Fund based on the KLD Broad Market Social Index to track the returns of its new benchmark, the Russell 3000 Index.
NEWS STORY:
Increasing Shareowner Action Fuels Record Proxy Season
Shareowners are increasingly recognizing and practicing their right to influence corporate practices and policies by filing and voting on shareowner resolutions.
NEWS STORY:
Socially Responsible Investing in 529 Funds Requires Some Savvy
There are now three SRI options for 529 college savings plans, though ascertaining how best to save for college in a socially responsible way may require professional advice.
NEWS STORY:
Report Asks When ExxonMobil Will Wake Up to Climate-Related Risks
For the second year in a row, a report tells ExxonMobil shareowners to beware of the significant risks the company faces in terms of how the oil giant addresses climate change.
NEWS STORY:
Do UK Charities' Investments Reflect Their Mission Statements?
A report released today reveals that the majority of large UK charities do not practice socially responsible investing.
NEWS STORY:
Investors Press Companies on Stock Options Expensing
A shareowner resolution on options expensing is garnering support, and a California pension fund has released a study on how to best expense stock options.
NEWS STORY:
Shareowners Press Avon to Walk the Walk
Shareowners vote overwhelmingly for board independence at Avon while questions about potential carcinogens in its products linger.
NEWS STORY:
Canadian Greenhouse Gas and Toxic Emissions Resolution Garners Near Record Support
A near majority of IPSCO shareowners voted in favor of a resolution asking the company to report on its greenhouse gas and toxic emissions.
NEWS STORY:
The Switch to Socially Responsible Investing Affords Choice and Confers Power
The continuation of one investor's story of how he chose SRI mutual funds, and his reflections on the power of socially responsible investing (part two of a two-part article).
NEWS STORY:
The Benefits and Obstacles of Switching to Socially Responsible Investing
One investor's story of the process of shifting mainstream investments into socially responsible investment mutual funds (part one of a two-part article).
NEWS STORY:
Innovest Report Identifies Business Risk of Genetic Engineering for Monsanto Investors
The controversy surrounding genetic engineering creates substantial risks to shareowner value at Monsanto, according to a new report from Innovest.
NEWS STORY:
Simulated Institutional SRI Portfolios Continue to Outperform Benchmarks
Institutional investors take note: four out of five mock portfolios in the Triple Bottom Line Simulation performed better than their benchmarks over the last three quarters
NEWS STORY:
Will Dover Heed Shareowners' Loud Call for Sexual Orientation Nondiscrimination?
Almost half of Dover shareowners want the company to explicitly add sexual orientation to its nondiscrimination policy, but the company has yet to commit to such a decision.
NEWS STORY:
The Answer to the Coffee Crisis? Farmers Want Fair Price, Kraft Says Increase Demand
Calls for fair prices and Fair Trade Certified coffee by social investors, coffee farmers, and Oxfam go unheeded by Kraft.
NEWS STORY:
Ford and Fannie Mae Top List of 50 Best Companies for Diversity
DiversityInc's new corporate survey strives to identify the business value of diversity.
NEWS STORY:
Is Nike Guaranteed Free Speech? The Supreme Court Will Decide
Advocates of socially responsible investment and corporate social responsibility on both sides of the Atlantic weigh in on the implications of Nike's Supreme Court case.
NEWS STORY:
Earth Day Founder Not the Only One to Link Climate Change and Investing
The voices of institutional investors representing public pension funds join those from the insurance industry to advance a business case for addressing climate change.
NEWS STORY:
The Effects of 9/11 and the Iraq War on Islamic SRI Funds
Socially responsible investment funds that reflect Islamic values shed light on the issue of anti-Islam sentiment, which has run rampant after 9/11 and through the Iraq War.
NEWS STORY:
Is the Sun Setting on AstroPower?
Once the darling of the green investors, AstroPower's share price has plummeted precipitously over the past year.
NEWS STORY:
Village Banking Supports Tomato-Selling in Tanzania (and Other Community Investing)
FINCA provides microfinance to groups of villagers at market rates to create businesses that remain sustainable in the local economy long after loan repayment ends.
NEWS STORY:
Back in the U.S.A.
A combination of investors, activists, and congresspeople are working to make sure U.S. companies keep paying their share of taxes.
NEWS STORY:
Pay Dirt or Payola? How Halliburton Strikes it Rich
A number of practices have generated profits as well as controversy for Halliburton, the company where Vice President Dick Cheney served six years as CEO.
NEWS STORY:
Healthy Living Sector Produces Healthy Returns
Two SRI funds find common ground in their success from investing in the healthy living sector.
NEWS STORY:
Return to Sender: Dell Inches Toward a Computer Take-Back Recycling Program
Calvert-led coalition conducts shareowner action urging U.S. computer companies to implement take-back programs for recycling obsolete computers and components.
BOOK REVIEW:
Book Review: Saving Capitalism from the Capitalists
A new book identifies what ails capitalism and proposes a panacea.
NEWS STORY:
Rebuilding Iraq: Humanitarianism Versus Opportunism
Socially responsible investing supports companies and nonprofit initiatives that advance humanitarian efforts to rebuild Iraq and avoids investment in profiteering companies.
NEWS STORY:
When Lightning Strikes: Portfolio 21 Applies The Natural Step's Sustainability Theories
Portfolio 21 applies environmental screens based on the principles of the Natural Step, which promotes sustainability.
NEWS STORY:
PepsiCo Shareowners Will Address the Business Risks of Water Scarcity
The SEC is requiring PepsiCo's to allow its shareowners to vote on a resolution regarding the business risks of water scarcity.
NEWS STORY:
The Key to Director Independence: Equal Access to Corporate Board Elections
A growing number of investors are demanding that shareowners be given the right to nominate candidates for board of director elections.
NEWS STORY:
Socially Responsible Investment Firms Respond to New War with Tried and True Tactics
SRI firms are sticking with their traditional strategies, such as screening, community investment, and support for humanitarian aid, in response to war.
NEWS STORY:
CalPERS Says Xerox's Corporate Governance Not Worthy of Copying
Pension fund giant names six companies that need to improve their corporate governance.
NEWS STORY:
AccountAbility Launches Assurance Standard for Corporate Responsibility Reporting
Investors and other stakeholders stand to benefit from the standardized verification of corporate reporting on social, environmental, and economic performance.
NEWS STORY:
Guide Rates Best and Worst Lenders in Terms of Reaching the Underserved
When it comes to reaching minorities, women, and low- and middle-income borrowers, Bank of America rates as one of the best and ABN AMRO rates as one of the worst.
NEWS STORY:
Watching the Public Company Accounting Watchdog
The Public Company Accounting Oversight Board Association is slowly getting to work and it will be scrutinized by the newly-formed Association for Integrity in Accounting.
NEWS STORY:
Tobacco-Free Investments Avoid an Industry of Smoke and Mirrors
As court cases related to deception by the tobacco industry mount, individual and institutional investors have options for avoiding exposure to tobacco stocks.
NEWS STORY:
CEOs Advocate Economic, Environmental, and Social Sustainability at Conference
The Forum for Corporate Conscience calls on CEOs and corporations to promote triple bottom line performance.
NEWS STORY:
Oekom Applauds Insurers Employing SRI but Chides Rest of Sector's Non-Transparency
Lack of transparency prevented the German corporate research firm from conducting corporate responsibility ratings on the majority of global insurance companies.
NEWS STORY:
Credit Reporting Companies Obstruct Positive Credit History Reports
Credit reporting companies readily accept negative credit reports, but require positive credit report submissions in batches of 100, preventing many microlenders from reporting.
NEWS STORY:
New UK Index Rates Corporate Social Responsibility Performance
UK-based Business in the Community launches its Corporate Responsibility Index, which benchmarks corporate social responsibility performance.
NEWS STORY:
Mutual Fund Industry Takes Last Stab at Blocking Proxy Voting Disclosure
The Investment Company Institute, the mutual fund industry trade group, continues to lobby against new SEC rules that require disclosure of proxy voting policies and records.
BOOK REVIEW:
Book Review: Socially Responsible Investment: A Global Revolution
A new book is generous in its history of socially responsible investing, but it shortchanges readers with its definition of SRI and its coverage of SRI's globalization.
NEWS STORY:
Investing in Wind Energy Is Not a Breeze
With few pure players in the domestic wind energy sector, investors who want exposure to wind energy must commit their money overseas.
NEWS STORY:
Individual Retirement Accounts Meet Socially Responsible Investing
IRAs that employ socially responsible investing strategies can help create a more secure financial, social, and environmental future.
NEWS STORY:
Congress Cuts Funding for New Markets Venture Capital Program
The New Markets Venture Capital program, which provides entrepreneurial expertise and equity capital to small businesses in low-income regions, received the Congressional ax.
NEWS STORY:
Federal Credit Union and Nonprofits Go 50-50 on Loans to Low-Income Individuals
Alternatives Federal Credit Union's Community Partnership Lending program doubles the amount of money nonprofits can loan to underserved communities.
NEWS STORY:
The Black and White and Gray Areas of Military and Weapons Screening
Most social investors screen out companies that derive revenue from military-related products and services or weapons manufacturing. However, a zero tolerance screen is unusual.
NEWS STORY:
International Right to Know Campaign Promotes Disclosure of Global Corporate Impacts
In a recent report, the International Right to Know Campaign outlines the benefits of corporate disclosure of global environmental and social policies and practices.
NEWS STORY:
ExxonMobil Receives 23 Shareowner Resolutions on Issues Ranging from Climate Change to Corporate Governance
Concerted shareowner action this proxy season targets ExxonMobil over such issues as its refusal to address climate change and its coupling of CEO and Chairman of the Board.
NEWS STORY:
SRI Issues Will Impact Companies' Financial Performance, UK Pension Fund Trustees Say
A recent survey finds that pension fund trustees in the United Kingdom view socially responsible investing (SRI) issues as linked to companies' future financial performance.
BOOK REVIEW:
Book Review: Unequal Protection: The Rise of Corporate Dominance and the Theft of Human Rights
A new book by Thom Hartmann states that the nineteenth century Supreme Court case that established corporate personhood did not in fact rule on this issue.
NEWS STORY:
Chinese Toy Manufacturer Labor Standards Found Lacking
New report highlights structural obstacles to toy manufacturer implementation of labor codes of conduct.
NEWS STORY:
Carbon Disclosure Project Informs Investors of Climate Change Risks and Opportunities
A new report finds that companies stand to gain competitive advantage by addressing climate change.
NEWS STORY:
Fannie Mae Receives High S&P Corporate Governance Rating
Fannie Mae becomes the first U.S. company to release its corporate governance score (a 9 out of 10) from Standard & Poor's Governance Services.
NEWS STORY:
Calvert Foundation Offers Community Investment in Self-Directed IRAs
The Calvert Foundation has partnered with PENSCO Trust Company to offer Calvert Community Investment Notes for use in self-directed individual retirement accounts.
NEWS STORY:
Corporate Social Responsibility Rating Agencies Balance Standardization and Differentiation
Corporate social responsibility (CSR) rating agencies are struggling to balance the need to standardize CSR ratings with the need to differentiate their ratings from competitors'.
NEWS STORY:
National Wildlife Federation and Amnesty International USA Embrace SRI
Two well-known advocacy organizations have made a commitment to lowering the wall between their program activities and their investments.
NEWS STORY:
Prince Albert of Monaco Helps Launch a New Sustainability Fund
Instead of investing directly in equities, this new "fund of funds" from Monaco invests in SRI and sustainability funds.
NEWS STORY:
World Economic Forum Surveys CEO Attitudes Toward Corporate Citizenship
The World Economic Forum CEO survey finds much enthusiasm but less substance in the adaptation of corporate social responsibility into core business activities.
NEWS STORY:
Meritas Launches Four New SRI Funds for Canadian Group Pension Plans
A mainstream group pension plan provider in Canada contracted Meritas Financial to create and manage four new SRI mutual funds for retirement plan investors.
NEWS STORY:
Three-Year Mutual Fund Performance Bodes Well for SRI Mutual Fund Firms
Huge net inflows at several SRI mutual fund firms result in overall net inflow for all SRI mutual funds.
NEWS STORY:
CSRwire Spreads the Word on Corporate Social Responsibility
Companies, nonprofits, and other organizations use CSRwire to distribute corporate social responsibility-related press releases and corporate performance reports.
NEWS STORY:
NeighborWorks Network Helps Low-Income Families
The Neighborhood Reinvestment Corporation operates the NeighborWorks Network, a coalition of local organizations that provide community investment loans to low-income residents.
NEWS STORY:
Europe's Largest Pension Fund Buys a Minority Stake in SRI Research Firm
ABP and State Street Global Alliance have invested in Innovest, another indication that mainstream investors are seeing the benefit of implementing SRI strategies.
NEWS STORY:
SRI Investors Find Managers Funds Meets Current Income Requirements
The mortgage-backed securities in the Managers Funds Short Duration Government Fund help it achieve solid financial performance.
NEWS STORY:
SEC Tells Mutual Funds To Disclose Their Proxy Votes
The Securities and Exchange Commission voted in favor of rule changes that require mutual fund companies to disclose their proxy voting policies and their actual proxy votes.
NEWS STORY:
Green Banking
Ten exemplary "green banking" enterprises were honored recently, highlighting the growth of environment-friendly community investing.
NEWS STORY:
ICCR Proxy Resolutions Book Gauges Shareowner Action Climate
In its new publication, the Interfaith Center on Corporate Responsibility rounds up the social and environmental shareowner resolutions to be voted on in the 2003 proxy season.
NEWS STORY:
Global Warming Shareowner Resolution Filed at "Filthy Five" Electric Companies
A coalition of institutional investors has filed a shareowner resolution calling on five electric power producers to report on the business risk of their greenhouse gas emissions.
NEWS STORY:
Corporate Responsibility Ratings and SRI Screens Sometimes Differ
A new report from Oekom Research criticizes IT network and component company performance based on the companies' own disclosure, while the Calvert Group's screens assess companies' actual practices.
NEWS STORY:
Sierra Club Launches SRI Mutual Funds
The Sierra Club is harnessing its name recognition and expertise on corporate environmental performance with its launching of an SRI equity mutual fund and an SRI balanced mutual fund.
NEWS STORY:
Top Five Social Investing News Stories of 2002
The major social investing news stories of the year include significant corporate governance reforms and the success of community investment.
NEWS STORY:
Low-Income Toronto Residents Save on Check Cashing
Royal Bank of Canada tailored its Cash & Save concept to meet the unique financial services needs of residents in a diverse, densely populated urban community.
BOOK REVIEW:
Book Review: The Sustainability Advantage
In a new book written for corporate senior executives, a former IBM manager systematically quantifies the business case for sustainability.
NEWS STORY:
Investment in Affordable Housing Generates Market-beating Returns
CalPERS' highest returning investment category over the last ten years is its Single Family Housing Program. The pension giant is not the only institutional investor that has had success with community investing.
NEWS STORY:
Australia To Require Investment Firms to Disclose How They Take SRI into Account
A 2002 Australian law that requires all investment firms to disclose how they take socially responsible investment issues into consideration will take effect in March 2003.
NEWS STORY:
NEC Pioneers "Green" Computer
NEC reverses the computer industry's foot-dragging on addressing environmental liabilities by introducing the PowerMate eco, the first eco-efficient computer.
NEWS STORY:
Community Investment Pays: More Conversation with F.B. Heron's Luther Ragin
Luther Ragin details F.B. Heron Foundation's returns on its community investments and urges other foundations and institutional investors to consider community investing (part two of a two-part article).
NEWS STORY:
Helping People Help Themselves: A Conversation with F.B. Heron's Luther Ragin
Luther Ragin explains why and how the F.B. Heron Foundation commits a whopping 18 percent of its total assets toward community investment projects (part one of a two-part article).
NEWS STORY:
A Tribute to Chuck Matthei, Community Investing Trailblazer
At a time of year when many people give thanks for their gifts, the SRI community continues to reflect on Chuck Matthei's numerous contributions to community investing.
NEWS STORY:
Social Investment Forum Outlines "Next Wave" of Corporate Governance Reforms
Additional reforms besides those already on the table will be necessary to create meaningful corporate governance reforms, according to the U.S. Social Investment Forum.
NEWS STORY:
Presbyterian Funds Honor Their History in SRI by Performing Well in the Present
New Covenant Funds, which trace its SRI roots back well beyond its 1999 inception date, offers several mutual funds that have been performing better than their peers.
BOOK REVIEW:
Book Review: Cause Marketing
A new look at an increasingly used marketing angle may provide lessons for social investors.
NEWS STORY:
Social Investors Spur Social and Environmental Upgrades at Intel
Over the past five years, Intel Corporation's program of engagement with the social investment community has helped the company boost its competitive advantage.
NEWS STORY:
Italian SRI Indexes Benchmark European and Global Equity and Bond Markets
Milano, Italy-based E. Capital Partners manages seven SRI indexes.
NEWS STORY:
Record Shareowner Vote Prompts Cracker Barrel to Bar Sexual Orientation Discrimination
Reversing more than a decade of opposition, Cracker Barrel's parent company bars sexual orientation discrimination in it Equal Employment Opportunity policy.
NEWS STORY:
Humans' Overuse of Earth's Resources Exceeds Sustainability by 20 Percent
A new report on the ecological footprints of 146 nations documents unsustainable consumption, a phenomenon that, unchecked, will deplete the world's natural resources.
NEWS STORY:
Citizens Funds Launches Two New SRI Mutual Funds
Major SRI mutual fund firm marks 20 years in the business by adding two new SRI funds to its family.
NEWS STORY:
DJSI Adds "Sin" Stocks
DJSI employs a best-of-sector strategy while FTSE4Good indexes exclude "sin" sectors, illustrating two widely-used approaches for benchmarking sustainability.
NEWS STORY:
BP Abandons Group Lobbying for Oil Drilling in Arctic National Wildlife Refuge
British oil company chooses to disengage from the Arctic Power lobby group and will only seek to drill in the ANWR if the people and the politicians endorse it.
NEWS STORY:
SRI Gains Momentum in University and College Endowment Investments
U.S. academic institutions are increasingly applying socially responsible investment principles, although not comprehensively.
NEWS STORY:
Moskowitz Prize Pays Tribute to Evidence of SRI Funds' Competitive Performance
A Dutch paper documenting no significant difference between returns from SRI funds and conventional mutual funds wins this year's coveted Moskowitz Prize.
NEWS STORY:
Freddie Mac's SHIP Sails Over the Stormy Seas of the Bear Market
The Socially Responsible Housing Investment Program (SHIP) run by Freddie Mac earns positive returns while supporting low-income housing.
NEWS STORY:
CSR Matrix Plots Socially Responsible Business Initiatives Throughout Europe
A new report surveys the status of corporate social responsibility in Europe, representing CSR initiatives graphically with a CSR Matrix.
NEWS STORY:
The Ethical Investment Group, Canada's Socially Responsible Investment Club
Initially spurred by a popular trend in the 1990's, a Montreal-based investment club continues its commitment to socially responsible investment.
NEWS STORY:
SRI Firms Caution Against a Wimpy Accounting Oversight Board
Despite the distractions of the current Accounting Oversight Board debacle, SRI firms focus on what policies the board could adopt to support social and environmental issues.
NEWS STORY:
Companies Face Corporate Governance Hurdles
Most public companies will need to restructure their corporate governance policies and practices to comply with new listing standards at NYSE and NASDAQ.
NEWS STORY:
SRI Mutual Funds Go Low-Tech
SRI mutual funds that invest in large-capitalization companies weather the bear market by avoiding sagging technology holdings.
NEWS STORY:
Talisman Leaves Sudan But Remains on Social Investment Nix List
Canadian SRI rating agency recommends investors continue to avoid investment in Talisman due to ongoing human rights and environmental concerns.
NEWS STORY:
Staples Commits to Recycled Paper
Spurred by social investors and environmental groups, Staples announces an environment-friendly paper procurement policy.
NEWS STORY:
The Complexities of Venture Capital Investment Disclosure
The University of Texas' disclosure of information on its venture capital investments creates challenges for venture capital firms and institutional investors.
NEWS STORY:
National Policy Association Book Advocates Corporate Social Responsibility Reporting
A new book published by the National Policy Association makes a series of recommendations to promote global corporate social responsibility, among them triple bottom line reporting.
NEWS STORY:
Canadian SRI Firms Call for Disclosure from Country's Top Banks
Two Canadian SRI firms filed shareowner resolutions at five major Canadian banks asking them to report on how they account for environmental, social, and ethical issues.
NEWS STORY:
DJSI and FTSE4Good Index Licensing Continues to Expand
Index-based separate accounts, certificates, and exchange-traded funds are among the products being created based on these European SRI indexes.
NEWS STORY:
Tables Turning on Predatory Lending?
The fight against predatory lending is being waged across the country by committed organizations that are utilizing capital from investors to create critical community impact. Meanwhile, major penalties are being handed down on predatory lenders.
NEWS STORY:
GAO Report Says Financial Restatements Cost Investors Billions
The ravaging effects of financial restatements, which have been on the rise since 1997, are documented in a recent General Accounting Office report.
NEWS STORY:
Connecticut Initiative Promotes a Better Bottom Line Through Diverse Boards
The Connecticut Board Diversity Initiative cites academic research to document the positive financial value of diverse boards of directors, in addition to their social value.
NEWS STORY:
Oekom Pans Telecoms' Social and Environmental Performance
A recent report from the German research firm concludes that only a handful of telecommunications companies have above average social and environmental practices.
NEWS STORY:
Nike Greenwash Decision a Double-Edged Sword
While some cheer the California Supreme Court ruling against Nike as a victory for truth in advertising, others consider it a potential defeat for CSR reporting and increased corporate transparency.
NEWS STORY:
SRI Index Fund Uses Overweighting and Underweighting to Fully Replicate S&P 500
Instead of screening companies in or out of the Total Social Impact Fund, this enhanced index fund concentrates its holdings in positive social and environmental performers.
NEWS STORY:
Seven New SRI Mutual Funds Launched by Seminal Canadian Investment Firm
Ethical Funds recently introduced seven new SRI mutual funds in response to investor requests and a poll that shows overwhelming support for shareowner action in Canada.
NEWS STORY:
Corporate Governance Now Rated by Mainstream Investment Research Firms
Mainstream investment research firms are now evaluating corporate governance as a potential indicator of stock valuation.
NEWS STORY:
Eco-Efficient Real Estate and Retail Food Stocks Outperform Environmental Laggards
Two recent Innovest reports correlate strong energy management, particularly participation in the EPA ENERGY STAR program, with superior stock performance.
NEWS STORY:
WRI Promotes Sustainable Business in China
The World Resources Institute has launched a project that will support green business initiatives in China.
NEWS STORY:
Teamsters Union Joins Boycott of World Bank Bonds
The International Brotherhood of Teamsters joins six other international unions in refusing to invest in World Bank bonds.
NEWS STORY:
Board of Directors Survey Reveals Progress and Gaps in Corporate Governance
A recent survey of board directors at Fortune 1000 companies found improvement in some areas, but also identified areas in need of improvement.
NEWS STORY:
UNEP Advises Financial Sector on Threats and Opportunities Related to Climate Change
A recent United Nations Environment Programme Finance Initiative report outlines the financial sector's risks and opportunities regarding climate change.
NEWS STORY:
Screening the Gambling Sector from High Yield Investments Can Be Tricky
Screening out gaming sector investments from high yield portfolios presents challenges, including identifying private gaming companies and controlling tracking errors.
NEWS STORY:
SRI Ratings Need Greater Independence and Standardization, Says New Dutch Guide
A new guide from Holland profiles 28 SRI rating agencies from around the world and recommends greater independence, standardization, and transparency in SRI research.
BOOK REVIEW:
Book Review: The SRI Advantage
In this important new book, author Peter Camejo makes a case for why socially responsible investing strategies lead to higher returns than non-SRI strategies.
NEWS STORY:
Community Investing Pays
New study refutes the myth that loans to low-income borrowers carry higher risk than loans to conventional borrowers.
NEWS STORY:
SRI Community Reaps Success in Washington
Recent proposals from the SRI community enacted as public policy are creating momentum toward more potential legislation and regulations that support SRI goals.
NEWS STORY:
Hong Kong Investment Firm Launches New Asian SRI Fund
The Kingsway SRI Asia Fund will apply both negative and positive screens to investments throughout the non-Japanese Asian markets.
NEWS STORY:
Utilities: They're Not Just for Widows and Orphans Anymore
Utilities may represent a wise investment in this bear market, especially for socially responsible investors seeking to capitalize on companies that have the best environmental records.
NEWS STORY:
IRRC to Release Corporate Governance Rating Tool
The Investor Responsibility Research Center will launch a new scoring system for evaluating and benchmarking corporate governance performance.
NEWS STORY:
Innovative Community Investment Fund Attracts Institutional Investors
The CRA Qualified Investment Fund, originally established to help banks fulfill a federal mandate for community investment, now appeals to a broader range of institutional investors.
NEWS STORY:
Oxfam Launches Coffee Rescue Plan
Oxfam International's new effort to promote the fair trade of coffee garners immediate support from Domini Social Investments.
NEWS STORY:
The Strengths and Inadequacies of the Sarbanes-Oxley Act
Social and mainstream investors alike applaud the positive reforms instituted by the Sarbanes-Oxley Act, but also point to additional reforms needed to clean up the markets.
NEWS STORY:
Large Canadian Firm Launches Four SRI Mutual Funds
Phillips, Hager and North will unveil four Community Values Funds, which apply socially responsible investment strategies.
NEWS STORY:
SEC Chair Proposes Eliminating Ordinary Business Exception in Proxy Rules
SEC Chairman Harvey Pitt proposed abolishing a rule that allows companies to exclude shareowner resolutions from their proxy statements because the resolution concerns the companies' day-to-day business.
NEWS STORY:
Survey Reveals High Investor Interest in Socially Responsible Investing
A recent Harris Interactive poll commissioned by the Calvert Group shows investor interest in SRI, particularly in retirement plans.
NEWS STORY:
SEC Proposal Would Require Mutual Fund Companies to Disclose Proxy Voting
The Securities and Exchange Commission proposed rules requiring all mutual fund companies and investment advisers to disclose proxy voting guidelines and votes.
NEWS STORY:
Achieve SRI Objectives While Deferring Taxes with Variable Annuities
Variable annuity subaccounts allow social investors with a very specific profile to apply SRI strategies and receive tax benefits simultaneously.
NEWS STORY:
Religious Mutual Funds Multiply in Numbers and Assets
Faith-based mutual funds represent a fledgling but fast-growing movement in the socially responsible investment field.
NEWS STORY:
CDVCA's Double Bottom Line
By investing capital in low-income communities, community development venture capital funds create jobs and foster economic development.
NEWS STORY:
Wells Fargo to Acquire Silicon Valley Investment Boutique with SRI Expertise
Wells Fargo recently inked an agreement to acquire Nelson Capital Management, an award-winning private money manager that specializes in socially responsible investing.
NEWS STORY:
Hazardous Waste as Fuel: Conservation or Corporate Irresponsibility?
The cement industry calls the use of hazardous waste to fuel cement kilns recycling while critics of the practice call it dangerous.
NEWS STORY:
Using Portfolio Theory to Manage Biodiversity More Prudently
A recent report proposes to improve biodiversity management by applying the portfolio method, which values diversification.
NEWS STORY:
Rio + 10 Series: U.S. Company Receives World Summit Award for Sustainable Development Partnerships
ForesTrade, which markets organic spices and fair trade coffee, was the sole U.S. company to win a Sustainable Development Partnerships Award at the Johannesburg Summit.
NEWS STORY:
Pension Funds, Fiduciary Duty, and SRI
An interview with Meredith Miller from the Connecticut State Treasurer's Office gives some insight into why the State of Connecticut is increasingly embracing SRI.
NEWS STORY:
Shifting the Sustainability Dialogue from Values to Value
A recent Ecos Corporation discussion paper advocates integrating the social and environmental considerations of sustainability into the financial bottom line.
NEWS STORY:
Institutional Investors Are Slow to Apply SRI to Fixed Income
While many institutional investors apply SRI strategies to the equity portion of their portfolios, they are leaving their income investments relatively untouched.
NEWS STORY:
Rio + 10 Series: The Johannesburg Summit Differs from Its Predecessor
Five days into the World Summit on Sustainable Development, participants remark how the conference is different than the 1992 Rio Earth Summit.
NEWS STORY:
SRI Mutual Funds Continue and Enhance Corporate Governance Screening
While the SRI industry has long screened for corporate governance criteria, the recent accounting scandals have prompted the development of more comprehensive corporate governance screens.
NEWS STORY:
Cooperative Fund of New England Attracts Investment through Self-Directed IRAs
Self-directed IRAs offer a win-win situation for nonprofits, which benefit from low-interest loans, and investors, who benefit from tax-friendly community investment.
NEWS STORY:
Four New Indexes Track Best Practice Companies
The Ethibel Sustainability Indexes apply positive screens for sustainable development and stakeholder involvement.
NEWS STORY:
Rio + 10 Series: The Rhetoric of the World Summit on Sustainable Development
Sustainable development's amorphous definition may prove a difficult hurdle to gaining consensus on concrete action plans at the Johannesburg Summit.
NEWS STORY:
SRI Income Funds Yield Competitive Dividends
Often overlooked, SRI income funds allow social investors to diversify their portfolios.
NEWS STORY:
SEC Urged to Strengthen Rules Governing Corporate Disclosure of Environmental Risks
The Rose Foundation is petitioning the SEC to require more comprehensive disclosure of environmental liabilities, allowing investors to assess the potential effect on shareowner value.
NEWS STORY:
New Tool Quantifies Corporate Environmental Performance
London-based TruCost launched a single-framework rating tool that allows for a quantitative comparison of companies' environmental performance.
NEWS STORY:
Rio + 10 Series: SRI Contributions to the Earth Summits Blocked from Within and Without
The fact that the global socially responsible investment community was denied a greater voice at the Rio Summit does not excuse its low participation in the Johannesburg Summit.
NEWS STORY:
Some Cracks in Freddie Mac's Otherwise Solid Social and Fiscal Reputation
Freddie Mac's profile appears picture-perfect from a social and fiscal perspective, but recent disclosures have tainted this image somewhat.
NEWS STORY:
Alternative Strategies for the Alternative Energy Sector
The recent downturn in alternative energy stocks is not necessarily reason for social investors to abandon the sector altogether.
NEWS STORY:
NCCED Supports CDCs
The National Congress for Community Economic Development is helping community development corporations operate more effectively and expand their services.
NEWS STORY:
Rio + 10 Series: Business Action Addressing Biodiversity is a Rare Species
The Center for Environmental Leadership in Business’ Energy and Biodiversity Initiative represents one of very few business actions that support biodiversity conservation.
NEWS STORY:
FTSE4Good to Fortify Human Rights Criteria
FTSE4Good is conducting market consultation in preparation for strengthening human rights criteria for inclusion in its socially responsible indexes and funds.
BOOK REVIEW:
Book Review: The Ecology of the New Economy
A collection of essays identifies how the new digital economy both upgrades and downgrades the environment without predicting which trend will prevail.
NEWS STORY:
Matrix Plots Business Cases for Sustainability in Emerging Markets
SustainAbility recently released a report that identifies the business benefits of practicing sustainability in emerging markets.
NEWS STORY:
Rio + 10 Series: The Sustainability of the World Summit on Sustainable Development
Organizers are working to reduce the environmental impacts of the Johannesburg Summit.
NEWS STORY:
Investors Continue to Put Money into SRI Mutual Funds
While U.S. diversified mutual funds are experiencing significant net outflows in response to the corporate scandals, SRI mutual funds are experiencing net inflows.
NEWS STORY:
Computer Sector's Social and Environmental Performance Needs Upgrade
A recent report from Oekom Research identifies shortcomings in the corporate responsibility performance of IT and computer companies, particularly concerning social issues.
NEWS STORY:
Conference to Consider the Business Case for SRI
Institutional investors will discuss SRI at the Green Mountain SRI Summit, to be held in Stowe, Vermont in September.
NEWS STORY:
Rio + 10 Series: Report Finds Fundamental Flaws in WTO's Agreement on Agriculture
An Institute for Agriculture and Trade Policy report argues that the Agreement on Agriculture fails to account for agri-business' monopoly over global agricultural trade.
NEWS STORY:
Oil and Gas Company Environmental Risk Should Concern Investors
Innovest and the World Resources Institute released reports this week that illustrate how environmental risk can affect the shareowner value of oil and gas companies.
NEWS STORY:
British Law Requiring SRI Reporting by Pension Funds Fails to Generate Best Practice
A recently released report identifies gaps between UK pension funds' stated commitment to SRI issues and their actual implementation of SRI practices.
NEWS STORY:
SRI Mutual Funds Will Endure the Crisis in Confidence
Socially responsible mutual funds are different from other mutual funds, and those differences help SRI mutual funds achieve competitive returns over the long term.
NEWS STORY:
Rio + 10 Series: UNAIDS' Accelerating Access Initiative May Decelerate Access
ACT UP Paris criticizes Accelerating Access, a joint United Nations/pharmaceutical industry initiative, for limiting price reduction on AIDS medicine in developing nations.
NEWS STORY:
Supporting Science, Supporting Sustainability
Earthwatch Institute's Corporate Fellowship Program places corporate employees in the field with top scientists for the benefit of both the environment and the sponsoring companies.
NEWS STORY:
South African Community Growth Fund Celebrates Tenth Anniversary
The Community Growth Fund invests in South African companies committed to sustainable development and triple bottom line reporting.
NEWS STORY:
Shareowner Vote Keeps Pension Plan an Issue with AT&T
A resolution calling for employee choice in selecting pension plans can be resubmitted next year, and a resolution seeking to strike sexual orientation from AT&T's nondiscrimination policy is soundly defeated.
NEWS STORY:
Rio + 10 Series: Two UNEP Reports Chart Past, Present, and Future Course of Sustainable Development
Assessments of the progress since the Rio Summit guide the blueprints for the Johannesburg Summit.
NEWS STORY:
Investment Partnership Has SRI Mandate
The Global Environment Fund Group manages four funds and is a majority owner of a South Africa-based forestry company.
NEWS STORY:
Cement Companies Churn Out Action Plan to Promote Sustainable Development
The Cement Sustainability Initiative, a consortium of ten global cement companies, recently released a report outlining specific steps to achieve sustainable development.
NEWS STORY:
Connecticut Fights to Keep Stanley Works from Disappearing to Bermuda
Officials from Connecticut contend that Stanley Works continues to mislead shareowners about the effects of reincorporating in Bermuda.
NEWS STORY:
Rio + 10 Series: Progress and Regress--Energy Sectors Report on Their Efforts Toward Sustainability
Three industry sectors that supply energy--oil and gas, coal, and electricity--reported on their improvements and shortcomings in sustainable development since the Rio Summit.
NEWS STORY:
Eco-Efficient Pharmaceutical Companies Have Higher Share Value
Innovest's recent report on the global pharmaceutical sector notes a correlation between strong environmental performance and better stock performance, with some exceptions.
NEWS STORY:
Three States Act to Keep Money Managers Honest
New York, North Carolina, and California will require money management firms that handle public funds to follow guidelines that discourage conflicts of interest.
NEWS STORY:
Rio + 10 Series: Book Review--Building Partnerships
A new book outlines the benefits and challenges of cooperation between the private sector and the United Nations.
NEWS STORY:
Shareowner Support for Resolutions Increases Significantly This Proxy Season
Support for proposals concerning corporate governance as well as social and environmental issues in the 2002 proxy season is reaching record levels.
NEWS STORY:
SRI Simulations Beat Benchmarks
The Triple Bottom Line Simulation demonstrates to institutional investors how socially responsible investing generates positive financial, social, and environmental returns.
NEWS STORY:
New PRI Opportunity Garners Flexible Capital for Award-Winning Community Development Corporations
Calvert Foundation has created a well-structured program related investment (PRI) opportunity that for the first time allows funders to buy-into a PRI Offering, combining strong credit quality and convenience with significant community impact.
NEWS STORY:
Rio + 10 Series: How the Private Sector Can Help Solve Global Water Problems
Solving the world's water problems may depend on properly regulated water privatization and corporate initiatives that introduce new technologies and reduce water consumption.
NEWS STORY:
Two Large-Cap Funds Outperform the S&P 500
The Calvert Social Equity Fund and the Neuberger Berman Socially Responsive Fund are outperforming their benchmark over the short and mid term.
NEWS STORY:
Minnesota Bank Puts Community Investment Accounts on Equal Footing
University Bank offers accounts that support projects in economically distressed communities and deliver the same interest rates as traditional accounts.
NEWS STORY:
New Markets Tax Credit Rewards Community Investment
Over the next seven years, the U.S. Treasury Department will allocate $15 billion in tax credits to investors who support qualifying community investments.
NEWS STORY:
Rio + 10 Series: A Brief History of the Earth Summits--From Rio to Johannesburg
SocialFunds.com presents a historical snapshot of the Rio Summit and surveys some significant developments leading up to the Johannesburg Summit. (the second in a series of articles leading up to the Johannesburg Summit)
NEWS STORY:
Aquatic Cellulose Uses Robotic Technology to Harvest Trees Underwater
Canadian company offers an environment-friendly alternative to traditional forestry and a socially responsible alternative to other forms of underwater tree harvesting.
NEWS STORY:
New York Stock Exchange Calls for Tighter Corporate Governance Standards
At the SEC's request, the New York Stock Exchange drafted recommendations to fortify corporate governance standards and restore investor confidence.
BOOK REVIEW:
Book Review: Cradle to Cradle
William McDonough and Michael Braungart propose a paradigm shift for how the world views product lifespans, moving from a "cradle-to-grave" mentality where products die in a landfill to a "cradle-to-cradle" mentality where they continue to feed production.
NEWS STORY:
Rio + 10 Series: A Brief History of the Earth Summits--From Stockholm to Rio
SocialFunds.com examines the significant events, theories, and people that contributed to the first two global summits on human interaction with the environment. (the first in a series of articles leading up to the Johannesburg Summit.)
NEWS STORY:
New Report Assesses the Status of Corporate Social Responsibility
Echo Research reports on how corporate social responsibility is increasingly important for global corporations, and rates how CSR is being incorporated into business practices.
NEWS STORY:
Calls for Shareowner Action Continue to Rise on U.S. Campuses
Swarthmore this year became the first college to singly file a shareowner resolution since the end of the anti-apartheid movement, and campuses across the U.S. are calling for divestment from Israel.
NEWS STORY:
Electronics and Appliances Sector Rated Highly for Environmental Performance
German research firm also finds, however, that there is much room for improvement in the sector's social performance.
NEWS STORY:
Institutional Investors Press Largest Companies to Disclose Greenhouse Gas Emissions
A group of institutional investors requested information on environmental performance from the 500 largest companies in the world.
NEWS STORY:
Labor Law Database Eases Companies' Compliance Efforts
A new database service aids corporate compliance teams in gathering information on national and local labor laws.
NEWS STORY:
Journalists List Corporations Found Guilty of Crimes throughout the 1990s
A simple list of corporate crimes, presented along with guilty pleas or fine payments, hints at the pervasiveness of poor corporate ethics.
NEWS STORY:
Annual Meeting Focuses Pressure on ExxonMobil
Some shareowners and NGOs claim that ExxonMobil's environmental and social practices are hurting the company's profitability.
NEWS STORY:
Social Indexes Beef Up Environmental Criteria to Promote Corporate Social Responsibility
FTSE4Good announces tougher environmental criteria for inclusion on its indexes, and answers critics who question whether this strategy will elicit corporate change.
NEWS STORY:
The Matrix: a New Tool for Assessing Corporate Social Responsibility
Each of two new initiatives employs a matrix to graphically represent the variables inherent in socially and environmentally responsible corporate practices.
BOOK REVIEW:
Book Review: Corporate Irresponsibility
George Washington University law professor and corporate governance expert blames immoral corporate behavior on imperative to maximize stockholder profit.
NEWS STORY:
Two Perspectives on the Business Case for Ethical Corporate Behavior
Robert Monks defends the business case for corporate ethics against Sir Geoffrey Chandler's recent editorial attacking the business case as amoral.
NEWS STORY:
Two More Social Mutual Funds Top the Billion-Dollar Mark in Assets
The Ariel Fund and the Ariel Appreciation Fund reap the rewards of consistent performance.
NEWS STORY:
EMC Shareowners Vote for a More Independent and Diverse Board
At the recent EMC annual meeting, a board independence resolution received majority support, while a board diversity resolution easily surpassed the SEC threshold for resubmission.
NEWS STORY:
South African Fund Applies Socially Responsible Investing Principles
Fraters Earth Equity Fund promotes positive corporate governance by engaging with the South African companies in which it invests.
NEWS STORY:
Occidental Pipeline in Colombia Strikes It Rich in Washington
The Bush Administration has proposed $98 million in military aid to protect Occidental's Cano-Limon pipeline in Colombia, despite its environmental and economic liabilities. (part two of a two-part article)
NEWS STORY:
Occidental Returns Siriri Oil Block to Colombia
Los Angeles-based Occidental Petroleum withdrew from an oil field belonging to the indigenous U'wa people, but the company will continue oil extraction in Colombia. (part one of a two-part article)
NEWS STORY:
Mining Industry Reports on Its Problems, but Remains Vague on Solutions
A new report identifies the global mining industry's social and environmental pitfalls, though its recommendations may prove hollow, according to an industry watchdog.
NEWS STORY:
Debate Continues Over Effects of CalPERS' Divestment from Emerging Market Countries
Although CalPERS may reverse its decision to divest from the Philippines, the question of how other emerging markets will be affected by divestment remains unanswered.
NEWS STORY:
Mutual Fund Reports on Environmental and Social Returns
Norway-based Storebrand reports on the environmental and social performance of companies in its international mutual fund.
NEWS STORY:
The Progress and Stagnation of Corporate Social Responsibility in MBA Programs
Two recent developments paint different pictures of the current status of corporate social responsibility in MBA programs.
NEWS STORY:
CERES Calls on Institutional Investors and Corporate Directors to Address Global Climate Change Risk
A new report from CERES advises institutional investors and corporate directors on the financial risks of global climate change.
NEWS STORY:
Business Ethics' 100 Best Corporate Citizens Outperform S&P 500
An academic study concluded that Business Ethics' list of 100 Best Corporate Citizens generated better returns than the remaining companies on the S&P 500.
NEWS STORY:
New Research Tool Identifies Terrorism Risk in Institutional Investments
The Global Security Risk Monitor allows investors to study risks to their investments from companies operating in countries that sponsor terrorism and weapons proliferation.
NEWS STORY:
WILD Awards Reward Socially and Environmentally Responsible Advertising
The Third Annual WILD Awards recognized companies, ad agencies, and individuals that support wild animals and nature in their marketing.
NEWS STORY:
Nordic Partnership Signs Sustainability Manifesto in Preparation for Rio + 10 Summit
A group of companies from the four Nordic countries convened recently to report on their progress in generating a model for sustainable business development.
NEWS STORY:
Financing Rural Western Community Infrastructure
The Rural Community Assistance Corporation helps people in the western United States build homes, strengthen small communities and create environmental infrastructure.
NEWS STORY:
Glass Ceilings Harden Instead of Shattering for Women in the U.S. and U.K.
Numerous recent studies on both sides of the Atlantic report continuing and even increasing disparity between women's and men's pay and advancement opportunities.
NEWS STORY:
Federal Lawsuit Seeks Slave Reparations from Three Companies
African-American attorneys filed a class-action lawsuit against three companies that allegedly profited from slavery, either directly or through acquired companies.
NEWS STORY:
Activists Lobby Shareowners to Stop Housing Development in Southern California
A coalition group held a rally at Washington Mutual's annual meeting to raise concern about that company's planned housing development in the Santa Monica Mountains.
NEWS STORY:
SEC Faltering on Meeting Shareowner Resolution Needs
Proposed budget for 2003 may help the SEC provide public information on its no-action letters as well as advise shareowners on resolution changes.
NEWS STORY:
Two Balanced Social Funds Outperform Over the Longer Term
The Pax World Balanced Fund and The Green Century Balanced Fund beat over 90 percent of their peers over a five-year period.
BOOK REVIEW:
Book Review: Investing in Separate Accounts
A new book extols the merits of separate accounts, which may represent an attractive alternative to mutual funds for institutional investors and high net-worth individuals.
NEWS STORY:
Community Development Credit Unions Introduce Affordable International Wiring Services
Several Community Development Credit Unions (CDCUs) have started to provide services that allow working immigrants affordable ways to send funds "back home".
NEWS STORY:
Companies Skirt Disclosure of Environmental Liabilities
New study echoes social investors' call for the SEC to strengthen its rules regarding corporate disclosure of environmental liabilities.
NEWS STORY:
Corporate Sustainability Reporting Is Here to Stay
The Global Reporting Initiative, an organization working to make corporate performance more transparent, was formally inaugurated as an independent institution yesterday.
NEWS STORY:
SEC Requires ExxonMobil to Include Shareowner Resolutions on Proxy
The SEC denied ExxonMobil’s request to omit three shareowner resolutions from its proxy, but allowed it to omit two other proposals.
NEWS STORY:
EMC Proxy Card Leaves Shareowner Voters in the Dark
EMC apparently violated SEC regulations by omitting descriptions of two shareholder resolutions on its 2002 proxy card, according to proposal filers and proxy voting experts.
NEWS STORY:
Survey Holds Money Managers Accountable
A recent AFL-CIO survey may prod money managers to examine their proxy voting on labor issues, but some in the social investment community note that the interests of organized labor and social investors sometimes diverge.
NEWS STORY:
SEC Chair Calls Proxy Voting a Fiduciary Duty
In a February letter, the SEC Chair acknowledged that proxy voting is a fiduciary responsibility for all fund managers
NEWS STORY:
Shareowner Resolutions Fuse Corporate Governance with Social Issues in 2002
A new study offers insights to how this year's proxy season is shaping up.
NEWS STORY:
Executives and Analysts Name Most Admired Socially Responsible Companies
A recent Fortune magazine survey lists America's most admired companies, with one section of the list devoted to social responsibility.
NEWS STORY:
Millipore Enhances Health Through Its Products, Employment, Environmentalism, and Philanthropy
This bioscience company's above-average social and environmental performance sets it apart from competitors.
NEWS STORY:
FTSE4Good Indexes Add Companies After Semi-Annual Review
FTSE4Good has significantly expanded its universe of socially responsible companies.
NEWS STORY:
Disney and Intel Clash Over Solution to Digital Piracy
Entertainment industry executives called on Congress to enforce a solution to the digital piracy problem, while the technology industry favors market incentives.
NEWS STORY:
Report Diagnoses Ills in the Pharmaceutical Sector
A German rating agency reports that many pharmaceutical companies are failing to follow the example of the sector’s leaders in solving environmental and social problems.
NEWS STORY:
Social Index Funds Mirror Their Benchmarks
Social index funds had a difficult year as benchmarks fell.
NEWS STORY:
New French Law Mandates Corporate Social and Environmental Reporting
French social and environmental rating agency offered both kudos and criticism for a new law requiring French companies to disclose social and environmental performance.
NEWS STORY:
Bush Plan on Corporate Responsibility Criticized as Vague, Unenforceable
Critics slam President Bush's ten-point plan on corporate responsibility for lacking specifics, penalties, budget support, and consideration of corporate social responsibility.
NEWS STORY:
State Tobacco Settlement Money Being Reinvested in Tobacco Companies
States that do not place specific restrictions on investing tobacco settlement money may be investing the funds back into tobacco.
NEWS STORY:
Shell to Stand Trial for 1990s Human Rights Abuses in Nigeria
A U.S. Federal Court rejected Shell's plea to dismiss a case charging the company with human rights abuses in Nigeria dating back to 1995.
NEWS STORY:
Second State Offers Socially Responsible College Savings Plan Funds
Pennsylvania offers socially responsible options for its 529 College Savings Plan.
NEWS STORY:
Institutional Investors Try Their Hand at Socially Responsible Investing
The Triple Bottom Line Simulation tracks hypothetical investments to demonstrate socially responsible investment performance.
NEWS STORY:
Which Government Bonds Are Appropriate for Sustainable Investors?
Oekom Research recently conducted a study that evaluates the sustainability of governments that issue bonds popular with investors.
NEWS STORY:
CalPERS Divests from Four Emerging Countries
California's public pension fund withdrew its equity from four emerging countries in response to a review that considered social and financial factors equally.
NEWS STORY:
New Canadian Social Fund Focuses on Positive Screening
A Vancouver investment firm recently introduced a social fund that exclusively employs positive screening.
NEWS STORY:
Online Communications Specialist Offers New Angle on Corporate Responsibility
UK-based consulting firm offers reports that look at how the Internet affects the relationship between companies and their stakeholders.
NEWS STORY:
Two Equity Funds Illustrate Diverse Definitions of Success in This Unstable Market
The Women's Equity Mutual Fund and the Parnassus Equity Income Fund both performed well over the past year, though each attributes success to different factors.
NEWS STORY:
Mining and Minerals Sector Trying to Clean Up Its Act
Large international mining companies, in an effort to improve their image with investors, are working on a project to define how the industry can best contribute to global sustainable development.
NEWS STORY:
New Organization Demands Good Returns from Charitable Investments
New intermediary organization will act as a clearinghouse for information on the financial and social strengths of charitable organizations for social investors.
NEWS STORY:
Verdict Still Out on Costa Rica Offshore Drilling
Although American companies Harken Energy and MKL-Xplorations purchased the rights to drill for oil off the coast of Costa Rica in 1998, drilling has not started as local organizations voice concerns.
BOOK REVIEW:
Book Review: Eco-Economy
Pioneering environmentalist Lester R. Brown fuses ecological consciousness into economics to create "eco-economy," an economic system that would preserve natural resources while continuing to generate wealth.
NEWS STORY:
Students Compel Williams College to Offer Social Investment Option for Donors
Alumni and other donors now can have their endowment contributions invested in a socially responsible manner.
NEWS STORY:
Report Argues that Europe Outperforms the U.S. in Corporate Social Responsibility
According to a study recently released by the National Policy Association, the United States has fallen behind Europe in advancing corporate social responsibility.
NEWS STORY:
First Nasdaq-based Social Index Unveiled
KLD and Nasdaq create the KLD-Nasdaq Social Index, the first index to screen Nasdaq companies for social and environmental criteria.
NEWS STORY:
Private Equity Investment Puts Yale in Deep Water
Yale University's investment in a private water company highlights the difficulty institutional investors have in managing private equity investments that may have little or no transparency.
NEWS STORY:
Alaskan Wilderness Oil Drilling Risky to Shareowner Value
A shareowner resolution asks BP to assess the damage to its reputation that would result from oil drilling in the Alaskan wilderness, and a new study highlights the economic risks of drilling.
NEWS STORY:
Swedish Foundation Reports on Socially Responsible Asset Management and Research
MISTRA, a Swedish environmental research foundation, recently released a report that assesses asset managers and research firms as its first step toward adopting socially responsible investing principles.
NEWS STORY:
Campaign Calls for U.S. Pharmaceutical Companies to Allow Inspections for Bio-Weapons
A non-profit watchdog is advocating mandatory inspection of chemical manufacturers capable of producing bio-weapons, a measure opposed by a U.S. pharmaceutical industry group.
NEWS STORY:
CEOs Worldwide Prioritize Corporate Social Responsibility
A survey of CEOs around the globe revealed their appreciation of corporate social responsibility, though they have yet to reach consensus on CSR's definition.
NEWS STORY:
Report Criticizes GM's Poor Fuel Efficiency, Applauds Its Other Environmental Efforts
CERES reported on GM's environmental record, praising the majority of the carmaker's initiatives but condemning its failure to improve overall fuel efficiency in its fleet.
NEWS STORY:
Spreading the Word about Corporate Social Responsibility and Sustainable Development
A new report assesses the role of the media in the growth of corporate social responsibility and sustainable development.
NEWS STORY:
One Percent Community Investing Campaign Gains Momentum
MMA Praxis places 1 percent of its assets in community investments, indicating continued overall growth of community investing.
NEWS STORY:
Swiss Insurance Company Invests in Sustainability
The reinsurance giant Swiss Re supports sustainability not only in its business practices but also in its investments, and has one portfolio committed exclusively to sustainability.
NEWS STORY:
Two International Social Funds Weather Turbulent 2001
International mutual funds lost money last year, but two socially responsible international funds held their ground within the broader world equity fund market.
NEWS STORY:
EMC Maintains Firewall on Its Board Diversity Efforts
The computer hard drive giant continues to resist sharing its board diversity initiatives with investors, and now is petitioning the SEC to omit socially responsible shareowner resolutions from its proxy.
BOOK REVIEW:
Book Review: The Divine Right of Capital
Marjorie Kelly argues persuasively for the creation of a new corporate structure, one that puts a priority on those that create wealth, not on those that own the company.
NEWS STORY:
SEC Clarifies Position on Auditor Independence Resolutions
Although the SEC rejected a shareowner resolution early in 2001 that called for shareowners to choose a company’s auditor, the SEC recognizes the relevance of the auditor independence issue to shareowners.
NEWS STORY:
Idiosyncratic Firm Invests Old Money in A New Way
Through investments in documentary films, Lowell, Blake & Associates earn a healthy profit for their clients and shows non-profits how to operate within a business model.
NEWS STORY:
Canadian Citizens and Investors Favor Corporate Accountability
According to a recent poll, as well as public hearings conducted by a government commission, Canadians largely support corporate social responsibility.
NEWS STORY:
UK Bank Offers Green Mortgages
Financial institution efforts to be more environment-friendly are proving popular with customers.
NEWS STORY:
Natural Foods Industry Savors 2001 Performance
The natural foods industry defied dire predictions for 2001, demonstrating the commitment of consumers to social and health values over cost
NEWS STORY:
Phase-out of Mercury Thermometers Continues to Rise
In response to shareowner action campaign, most large pharmacy chains are voluntarily phasing out mercury thermometers. The campaign is now turning to the health care industry.
BOOK REVIEW:
Book Review: Sustainable Finance and Banking
New book methodically argues that finance and banking have a significant role to play in achieving sustainability.
NEWS STORY:
Top Five Social Investing News Stories of 2001
Among the major social investing news stories of the year, social mutual funds continued to bust poor performance myths, and governments and shareowners pushed companies on sustainability and corporate social responsibility issues.
NEWS STORY:
Attractive College Savings Programs Yet to Embrace Socially Responsible Options
New regulations shelter certain college savings funds from taxation, but socially responsible investors must petition their states to implement socially responsible options
NEWS STORY:
Harry Potter Hawks Coke, Inciting Ire Amongst Fans and Consumer Advocates Alike
Coca-Cola secured global marketing rights to the Harry Potter image, a move more likely to increase obesity than to promote literacy, according to children's health advocates.
NEWS STORY:
Florida Community Loan Fund Brings Sunshine to Low-income Communities
A wide lending focus helps the Florida Community Loan Fund provide the necessities of life throughout Florida.
NEWS STORY:
Consulting Firm Promotes Online Reporting of Triple Bottom Line
SustainAbility, a British research and consultancy firm, recently released a report on how companies, their stakeholders and customers use the Internet to communicate about sustainable development.
NEWS STORY:
SBI Promotes Responsible Business Practices Alongside Profits
The Sustainable Business Institute is working to spread its vision of sustainability to business leaders and the public.
NEWS STORY:
Resolution Urges ExxonMobil to Strip Chair from its CEO, a Global Warming Naysayer
Robert Monks' resolution claims that ExxonMobil Chairman and CEO Lee Raymond's denial of global warming is harming the company's reputation and shareowner value.
NEWS STORY:
E-Waste Not, Calvert Says to Computer Companies
The Calvert Group has filed shareowner resolutions with the major U.S. computer producers, urging them to investigate ways to counteract electronic waste.
NEWS STORY:
Value Funds Enhance Their Value
Valuation-oriented social funds perform well amidst mixed financial markets after the exuberance of the last two years.
NEWS STORY:
Empowering Micro-business Entrepreneurs to Succeed
A for-profit Washington, D.C. company develops business training tools that are helping educate entrepreneurs in the U.S. and around the world.
NEWS STORY:
Capstone Generates Interest in Microturbines
Capstone Turbine Corporation offers environment-friendly alternatives to electricity generation for multiple applications.
NEWS STORY:
Domini Urges SEC to Require Proxy Voting Disclosure
In a letter to the U.S. Securities and Exchange Commission chairman, Domini Social Investments outlines the benefits of mutual fund managers disclosing their proxy voting practices to their investors.
NEWS STORY:
Tomato Pickers Boycott Taco Bell for Higher Wages
Borrowing a tactic from anti-sweatshop campaigns, tomato pickers seek a sustainable living wage by appealing to Taco Bell, the primary purchaser of the tomatoes they pick.
NEWS STORY:
City of London Principles Anticipate Global Summit on Sustainability
The UK financial sector is developing sustainable business principles that it hopes can act as a blueprint for similar principles to be created and adopted at the UN's 2002 World Summit on Sustainable Development.
NEWS STORY:
Study Correlates Shareowner Rights with Strong Stock Price Performance
Through the 1990s, stock in firms that preserved shareowner rights outperformed companies that bolstered management's power, according to an academic paper.
NEWS STORY:
Global Energy Providers Score Well in Corporate Responsibility Ratings
New study by German research firm Oekom identifies several trends developing worldwide in the power delivery sector.
NEWS STORY:
EC Adopts Sustainable and Responsible Investing with the Launch of Eurosif
Social investment forums throughout Europe joined forces to establish Eurosif, which will centralize efforts to promote socially responsible investing on the European continent.
NEWS STORY:
GEMI Elevates Environmental Consciousness from the Bottom to the Top Line
The Global Environmental Management Initiative releases a new report promoting environment-friendly methods of enhancing corporate performance.
NEWS STORY:
SIF Reports on Socially Responsible Investment Growth in the U.S.
In its biennial report, the Social Investment Forum documents modest gains in socially responsible investments.
NEWS STORY:
Shareowners Increase Social Activism Significantly in 2001
Research released by the Investor Responsibility Research Center reveals upward trends for shareowner activism on social issues.
NEWS STORY:
Bond Funds Thrive in the Bear Market
The Calvert Social Bond fund and the Aquinas Fixed Income fund perform well both in the short and long term, stabilizing portfolios in this unstable market.
NEWS STORY:
FTSE4Good Adds Final Two Indexes to its Series
FTSE launches the FTSE4Good Global Index and the FTSE4Good US Index, the last two in its series of eight indexes covering the performance of companies practicing corporate social responsibility.
NEWS STORY:
Dutch Banks Act to Save Tropical Rainforest
Three major Dutch banks have announced they will restrict loans for palm oil plantation development in Indonesia that results in tropical rainforest destruction.
NEWS STORY:
Environmentalists Attempt to Dam Hydroelectric Project
Canadian energy supplier Fortis, Inc. faces strong opposition from environmentalists over its proposed hydroelectric dam on the Macal River in Belize.
NEWS STORY:
The Socratic Method Expands
KLD expands the scope of SOCRATES, its database of research reports on issues related to the social and environmental performance of thousands of companies.
NEWS STORY:
Socially Responsible Investing: An Academic Issue?
TIAA-CREF opposes enhanced social responsibility for its Social Change Account, despite the fact that the overwhelming majority of the account's investors favor such an initiative.
NEWS STORY:
Activists Dog Animal Research Firm and Its Investors
Animal rights proponents protesting European animal research firm Huntingdon Life Sciences have extended their ire to its major U.S. backer, Stephens, Inc.
NEWS STORY:
Directing the Faithful Call for Corporate Social Responsibility
An interview with Sister Patricia Wolf, executive director of ICCR, reveals how ICCR has remained a driving force in the corporate social responsibility movement and what might be in store for ICCR in the future.
NEWS STORY:
Greenhouse Gas Protocol Initiative Creates Global Emissions Standards
An international consortium of government agencies, NGOs, and businesses creates its own set of standards for reducing greenhouse gas emissions in advance of the Kyoto Protocol.
NEWS STORY:
Socially Responsive Fund Looks Worldwide for Corporate Responsibility
Enterprise Global Socially Responsive Fund uses both positive and negative screening in targeting companies both inside and outside the U.S.
NEWS STORY:
Businesses Convey Interest in Sustainable Mobility
Report on the challenges of achieving long-term sustainable transportation offers multinational automotive and energy companies, as well as governments, food for thought.
NEWS STORY:
EPA Program Recognizes Better Corporate Environmental Performance
Performance Track motivates and rewards businesses that exceed EPA's environmental standards.
NEWS STORY:
Reducing Greenhouse Gases by Making Fizz
An innovative venture enables a Shell subsidiary to sell excess carbon dioxide for soft drink manufacturing, but social investors should know that the company is still miles away from being socially responsible.
NEWS STORY:
British Insurers Demand Corporate Social Responsibility
The Association of British Insurers recently announced that its members will expect companies to disclose how social, environmental and ethical risks are being handled.
NEWS STORY:
Companies Get Help Building Green
The U.S. Green Building Council makes it easier for companies to be more energy efficient and friendlier to the environment by helping them construct "green" buildings.
NEWS STORY:
Norm Thompson Outfitters Dedicated to Greener Catalogs
Norm Thompson Outfitters' partnership with Alliance for Environmental Innovation results in the use of recycled paper in all of their catalogs.
NEWS STORY:
Social Investors Press Unocal to Cut Ties to Burma
Social investors have become part of a sophisticated, multi-pronged campaign to keep the Burma issue in front Unocal senior management. (part two of a two-part article)
NEWS STORY:
Students Push University of Virginia Out of Unocal
Unocal is feeling pressure from activists because the company continues to do business with Burma's ruling military regime. (part one of a two-part article)
NEWS STORY:
Calvert Foundation Launches Donor Advised Fund
With a $5,000 minimum, the Calvert Giving Fund enables many investors to reap the multiple benefits of having a donor advised fund.
NEWS STORY:
WRI Recognizes Eco-Friendly Enterprises
New Ventures program aims to bring together socially responsible venture capitalists with environment-friendly businesses looking to expand.
NEWS STORY:
Sustainability in the U.S. Sees Hurdles, Future Growth
Symposium discusses market hesitance and corporate attraction to embracing sustainability.
NEWS STORY:
Strengthening Communities in Massachusetts and the Northeast
Boston Community Capital offers investors opportunities to provide loans and equity for affordable housing, community infrastructure and business start-ups.
NEWS STORY:
New European Sustainability Indexes Launched
Four Dow Jones STOXX Sustainability Indexes are introduced to satisfy the growing demand for sustainability benchmarks in Europe.
NEWS STORY:
"New World Order" May Turn Out to Be World Interconnectedness
Some social investment industry leaders believe one of the lessons from September 11th should be a focus on the long-term economic and environmental health of the whole world.
NEWS STORY:
Media Corporations Get Less than Rave Reviews
German research firm Oekom finds that the largest global media companies have room to improve their social and environmental performance.
NEWS STORY:
Property Flipping Remediation Yields Investment-grade Security
Refinancing plan for victims of property flipping in Minneapolis includes mortgage-backed securities for institutional investors (part two of a two-part article).
NEWS STORY:
Property Flipping Robs Homeowners of Money and Credit
Community non-profit organizations, private companies, government officials and others cooperate to help victims of a complex predatory lending scheme in Minneapolis (part one of a two-part article).
NEWS STORY:
Mirant Commits $50 Million to Climate Change Solutions
Energy company's plans include a more robust and transparent environmental policy.
NEWS STORY:
Research Paper on Corporate Global Environmental Standards Wins Moskowitz Prize
For the first time, judges also give Honorable Mention to a paper that provides compelling evidence of no significant cost for actively managed screened portfolios.
NEWS STORY:
Scandinavian Companies Work toward Sustainable Business Model
A group of large Nordic companies are participating in an unusual partnership to create their view of a future sustainable company.
NEWS STORY:
ShoreBank Surpasses $1 Billion in Community Development Investment
Nation's oldest and largest community development bank passes milestone in serving distressed inner-city neighborhoods.
BOOK REVIEW:
Book Review: The Civil Corporation
The New Economy brings increased competition, faster dissemination of information and the rise of corporate citizenship.
NEWS STORY:
EPA Partners with Businesses to Promote Green Power
Voluntary program has enlisted companies, cities, universities and others with the aim of boosting the market for renewable energy.
NEWS STORY:
Shareowners Rally to Defeat Online Annual Meeting Provision in Massachusetts
Online annual meetings viewed as reducing shareowners' and the public's ability to hold companies responsible for their actions.
NEWS STORY:
Ethanol Producer Looks to Growth in Fuel Additive Market
High Plains Corporation is expecting increasing demand for its products because of concern over MTBE's environmental impact.
NEWS STORY:
ExxonMobil's Troubled Relationship in Aceh
Questions are being raised about ExxonMobil, the world's largest integrated oil company, retaining the Indonesian army and police forces for security.
NEWS STORY:
SRI in the Rockies Reflects Growth in Social Investing, Perseveres Under Extraordinary Circumstances
Conference of SRI industry professionals facilitates learning and networking, and on September 11, support of a different kind.
NEWS STORY:
Religious Leaders Address Staples Shareowners
Letter presented at annual meeting urges office product retailer to increase use of post-consumer recycled paper in its products.
NEWS STORY:
Ben & Jerry's Co-founder Invests in "Sweat-free" Garments
Following the sale of the Ben & Jerry's label to Unilever, Ben Cohen has shifted his focus from ice cream to the clothing industry as a vehicle for social change.
NEWS STORY:
High-tech Industry Helps Power California Energy Efficiency Success
New report assesses California's effective energy efficiency program and high-tech industry's role in sparking innovative conservation efforts.
NEWS STORY:
Socially Responsible Shareowner Proposals Continue to Gain Support
The number of social issue proposals receiving at least 10 percent support in the 2001 proxy season outpaces that of recent years.
NEWS STORY:
Global Index Takes New Name, New Components and New Family
The newly re-named Dow Jones Sustainability World Index undergoes an annual review to evaluate the sustainability performance of its component companies, and it becomes the member of a new index family.
NEWS STORY:
Political Contributions Bring Oil Drills Closer to ANWR
U.S. PIRG finds unsurprising correlation between oil company political donations and House members that voted to allow drilling in the Arctic National Wildlife Refuge.
NEWS STORY:
New Survey Indicates Potential Growth for Faith-based Investing
The survey, sponsored by MMA Praxis, found that over half of U.S. investors would be inclined to consider religious or other values in making investment decisions.
NEWS STORY:
Companies Cut Pollution Through E-commuting
A federal government pilot program will give participating companies pollution credits based on the emission reductions achieved by telecommuting employees.
NEWS STORY:
Seasoned Fund Stays Innovative
The Dreyfus Premier Third Century Fund uses best-of-class screening to assess the environmental performance of companies in certain industrial sectors.
NEWS STORY:
Building a Vibrant Arkansas
Southern Development Bancorporation focuses on developing Arkansas' rural economies by investing in its people, businesses and real estate.
NEWS STORY:
Some Funds Take More of the Rise Than the Fall
Three socially responsible equity funds deliver peer-beating performance over a three-year period.
NEWS STORY:
Group Invites Grantmakers to Invest with Their Values
The Foundation Partnership for Corporate Responsibility seeks to help foundations bring their investment principles in line with their mission.
NEWS STORY:
Survey Finds Most Top U.K. Pension Funds Slow to Adopt SRI
Friends of the Earth U.K. survey reveals that over half of the largest pension funds either are not taking steps to implement their social investing policy or they have no social investing policy.
NEWS STORY:
Venture Capitalists Warm to Charcoal from Sustainably Harvested Forests
Mexican company selling charcoal from FSC-certified forests gets a lump of capital with the help of a non-profit.
NEWS STORY:
UN Lends a Hand to SRI in Australia
UNEP is co-hosting the Ethical Investment Association's second annual conference, to be held next month in Melbourne.
NEWS STORY:
Global Compact Turns One
U.N.'s ambitious business initiative makes progress but still has difficulty silencing critics.
NEWS STORY:
Proxy Monitor Buys ISS
Move gives one firm significant power in influencing the proxy votes of institutional investors.
NEWS STORY:
Community Investment As a Means of Competitive Advantage
Ford Foundation report illustrates how companies are finding investment in rural and urban markets to be good business.
NEWS STORY:
Social Fund Assets in the U.S. May Top a Quarter of a Trillion Dollars in Ten Years
Study marking Pax World Funds' 30th anniversary also pegs current assets of U.S. socially responsible mutual funds at $103 billion.
NEWS STORY:
Turning Waste Streams into Products
The largest manufacturer of recycled plastic lumber in the U.S. is looking to position itself for a more profitable 2001.
NEWS STORY:
Green Room and Board
Fairmont Hotels and Resorts has created a valuable resource for hotels that want to lesson their environmental impact.
NEWS STORY:
Fuel Cell Stocks Lose A Little Spark
But for the social investor who does not get jolted by volatility, the sector may generate long-term gains.
NEWS STORY:
Canadian Parliament Votes to Give Socially Responsible Shareowner Proposals Equal Billing
New law will limit corporate management’s ability to claim that a proposal “promotes a cause” and therefore should be rejected.
NEWS STORY:
Vermont Benefits from Socially Responsible Banking Program
Regional bank brings socially responsible banking and investing to the Green Mountain State.
BOOK REVIEW:
Book Review: The Future of Success
The new economy may be offering unprecedented opportunities and choices, but is making it nearly impossible to live a balanced life.
NEWS STORY:
All-SRI 401(k) Plan Debuts
Seventeen social mutual funds compose a new, diversified plan that can also be customized to client needs.
NEWS STORY:
Where Good Returns May Flow
California water investment partnership believes the water industry is a little-known spigot for solid returns.
BOOK REVIEW:
Book Review: The New Global Investors
Robert Monks calls on institutional investors to exercise their rights as shareowners and hold senior managers accountable for company performance and practices.
NEWS STORY:
ICE Preserves Affordable Housing
The Institute for Community Economics (ICE) works with groups around the country to create and support community land trusts, organizations that ensure a long-term supply of affordable housing.
NEWS STORY:
Innovest Stretches Across the Atlantic and Pacific
Social investment research firm tapped to provide services for a Dutch public pension fund and a T. Rowe Price mutual fund targeted at the Japanese market.
NEWS STORY:
Large- and Medium-cap Social Mutual Funds Are Beating Their Peers
One large-cap and two medium-cap socially responsible funds are near the head of the pack when compared to similar funds for one-year performance.
NEWS STORY:
Morgan Stanley Dips Toe into Social Investing
Morgan Stanley introduces the Morgan Stanley KLD Social Index Fund, which will track KLD's Large Cap Social Index.
NEWS STORY:
FTSE4Good Index Series Announces Constituents
Microsoft, AOL Time Warner and Intel are the top three in both the US 100 and Global 100 indexes.
NEWS STORY:
Citizens Acquires Meyers Pride Value Fund
Meyers Pride assets to become part of the new Citizens Value Fund.
NEWS STORY:
Benchmarking Corporate Environmental and Social Reporting
Recent survey examines the environmental and social reporting practices of the 100 largest global firms.
NEWS STORY:
Labor Standards Resolutions Garner Support in 2001 Proxy Season
Ten international labor and human rights proposals that came to vote this year received 10 percent or more support from shareowners.
NEWS STORY:
Americans Increasingly Interested in Corporate Citizenship
Survey indicates that Americans are looking for good corporate citizens, but are having difficulty finding them.
NEWS STORY:
Watchdog Challenges Southern Company To Clean the Air
The "Clean-Up Southern Company" campaign led by U.S. PIRG is educating consumers about Southern Company and air pollution.
NEWS STORY:
ARESE Launches New European Sustainability Index
ASPI Eurozone is the first of a family of indexes that will include companies based solely on their sustainability performance.
NEWS STORY:
LIHF Helps Families Out of Poverty
The Low Income Housing Fund, one of the country's largest community development financial institutions, helps people gain stability and hope.
NEWS STORY:
International Business Leaders Promote Ethical, Responsible Business Practices
The Caux Round Table offers guidelines to promote social, environmental and economic sustainability among corporations.
NEWS STORY:
Budget Proposal Threatens Huge Cut in CDFI Fund
House and Senate subcommittees will soon be looking at a Bush budget proposal that cuts CDFI Fund funding by nearly half.
NEWS STORY:
Shareowners Push Companies on Gene-engineered Food
This proxy season, shareowner resolutions continue to ask manufacturers and retailers to disclose information about or phase out the sale of gene-engineered food products.
NEWS STORY:
Poor Practices Catching Up with Labor Ready
Worker complaints and lawsuits contribute to financial woes of national manual labor temp agency.
NEWS STORY:
Florida Can't Quit Tobacco Profits
Sunshine State will again invest pension funds in cigarette makers.
NEWS STORY:
Domini Social Equity Fund Turns Ten
Nation's first screened index fund now can boast a decade of making a difference and making money.
NEWS STORY:
Placer Dome's Efforts at Sustainability: Sincere or Greenwash?
Contentious issues surrounding its Porgera mine operations reveal the difficulty in assessing corporate social and environmental performance.
NEWS STORY:
Placer Dome Mine Strikes Resentment in Papua New Guinea
Inaction on improving the environmental performance of the Porgera mine is drawing criticism from within Papua New Guinea as well as Australia, Canada and the U.S.
NEWS STORY:
Helping People on the Plains
Regional community development organization in South Dakota provides a variety of needed resources and services to farmers, Native Americans and others.
NEWS STORY:
Top Tenners - Social Mutual Funds that Sing
Four social mutual funds are in the top ten percent for financial performance for a one-year period when compared to similar funds.
NEWS STORY:
Companies Using NAFTA to Undermine Legitimate Regulations
New report explains how the U.S., Canadian and Mexican governments' ability to regulate in the public interest is being eroded by NAFTA's Chapter 11.
NEWS STORY:
Stock Ownership Increasingly Black and White
Survey finds stock ownership among African-Americans is increasing while ownership among Whites has stayed flat.
NEWS STORY:
Catholic Values-based Investment Products Rise in Number
Introduction of faith-based screened indexes highlights recent growth in Catholic values-based investing.
NEWS STORY:
EarthShell Serves Environment-Friendly Food Packaging
Container manufacturer beginning to see fruit of research and development with expanding in-market product tests.
NEWS STORY:
Telecommunications Industry Calls for Sustainability
Some of the world's largest information and communications technology companies form an alliance to promote sustainable development.
NEWS STORY:
Better Corporate Governance Pays Off for Large Companies in Emerging Markets
Recent study across global emerging markets finds large companies with good corporate governance yield better bottom lines.
NEWS STORY:
Study Finds More Than One in Four Polluters Seriously Violate Clean Water Act
U.S. PIRG report says polluters keep polluting because the government is not doing its job.
BOOK REVIEW:
Book Review: The Rise of Fiduciary Capitalism
The fiduciaries of large institutional investors are finding it is in their interest, as shareowners, to urge corporate social responsibility.
NEWS STORY:
KLD and Russell/Mellon to Offer Benchmarks for Screened Investments
Launch of large cap index highlights KLD’s continued push to provide screened indexes across the domestic market.
NEWS STORY:
Manna Inc. Helps Families Find Homes
The non-profit developer works to create affordable for-sale homes for low- and moderate-income families in Washington D.C.
NEWS STORY:
Magazine Industry Is Wasting Forests
New study finds magazines use almost no recycled paper and publishers have an incentive to overproduce wastefully.
NEWS STORY:
Simulating the Triple Bottom Line
Fiduciaries try their hand at socially responsible investing at the innovative "Triple Bottom Line Simulation Conference 2001" held in New York this week.
NEWS STORY:
Rural Housing Organization Reaches Milestone
The Housing Assistance Council celebrates 30 years of helping local organizations build affordable homes in rural America.
NEWS STORY:
ExxonMobil Feeling Heat on Both Sides of the Atlantic
Shareholder resolutions and boycotts put pressure on oil giant to change its stance on global warming and embrace clean energy.
NEWS STORY:
Winslow Launches New Green Mutual Fund
The Winslow Green Growth Fund will seek small- and mid-cap companies with superior environmental performance.
NEWS STORY:
Getting Boards to Address the Triple Bottom Line
New report proposes a set of principles and actions to assist corporate boards in addressing the triple bottom line of economic, social and environmental performance.
BOOK REVIEW:
Book Review: Sustainable Banking
Scholarly collection of perspectives and case studies explores the international financial sector’s role in sustainable development.
NEWS STORY:
Entrepreneurs Foundation Starts Up Community Service
Innovative organization taps the resources of the entrepreneurial sector to strengthen communities.
NEWS STORY:
Coke Takes Small Step Toward Recycling; Pepsi Drags Its Heels
At recent annual meetings, Coke announces recycling targets while Pepsi says it will talk.
NEWS STORY:
Louisville Community Development Bank Focuses on Inner City Neighborhoods
Unique bank helps turn pockets of despair into pockets of hope.
NEWS STORY:
Do You Own Firearms Stock?
Well-known conventional mutual funds as well as a few teacher pension funds own shares of gun manufacturers.
NEWS STORY:
Citigroup Shareowner Resolutions Yield Mixed Results
Three of five resolutions achieve thresholds for resubmission next year.
NEWS STORY:
Fortune Names Worst Corporate Boards
Excessive CEO and board member pay a recurring point in the annual roster of America's worst corporate boards.
NEWS STORY:
Merrill Lynch Drops Defined Asset Funds in the U.S.
Socially responsible investors now left with few options for unit investment trusts.
NEWS STORY:
Four New Funds Floated
The ARK Funds offers four new funds that will have exclusionary screens aimed at religious institutional investors.
NEWS STORY:
Jewish Foundation Promotes Community Development
Jewish individuals and organizations are supporting communities through investments in community development financial institutions.
NEWS STORY:
Fiduciaries Consider Socially Responsible Investing
First conference of its kind brings together institutional investors and the social investing industry to discuss why and how fiduciaries should adopt values-based investing.
NEWS STORY:
SAM Sees Future Profits in Energy
New European investment company will invest in companies with innovative technologies and services that realize more efficient and environment-friendly energy use.
NEWS STORY:
Business Group Supports Sustainability Via the Market Economy
New report identifies seven factors companies must address in order to realize sustainable practices.
NEWS STORY:
Socially Responsive Fund Beats its Peers in First Quarter
Neuberger Berman's sole social offering does better than most in a down market.
NEWS STORY:
MMA Praxis to Offer New Social Index Fund
First socially responsible value index fund will expand MMA Praxis’ fund family to four.
NEWS STORY:
Major UK Fund Manager to Require Environmental Reporting
Institutional investors are increasingly seeing the need for environmental disclosure.
BOOK REVIEW:
Book Review: Tending Your Money Garden
Affable guide to personal money management is revised for 2001.
NEWS STORY:
Wal-Mart Booted Out of the Domini 400
KLD cites lack of leadership on labor controversies among reasons for removal.
NEWS STORY:
Looking at the Longer Term in a Volatile Market
Three social funds shine in their performance over the last three and five years.
NEWS STORY:
Environmental Groups Endorse Shareholder Resolutions
Environmental advocates ask for support for pro-environmental resolutions at a wide range of companies.
NEWS STORY:
Bank of America Invests in Affordable Housing
Funding of a non-profit syndicator of federal tax credits is part of a 10-year, $350 billion commitment to community development banking.
NEWS STORY:
Do You Own Nuclear Power Stock?
Well-known conventional mutual funds and asset managers are looking to catch profits from nuclear power’s revival.
NEWS STORY:
High CEO Pay Does Not Translate to Good Stock Performance
A new report indicates that top compensation packages may even foreshadow poor short-term stock performance.
NEWS STORY:
Thirty-one Companies to Test Sustainability Reporting Guidelines
Structured feedback will help shape the next generation of Global Reporting Initiative guidelines.
NEWS STORY:
U.S. Petulance on Global Warming Irritating Friends
The Bush Administration is increasingly being seen as anti-environmental after scuttling Kyoto agreement to reduce greenhouse gas emissions.
NEWS STORY:
New Family of Social Funds Launched in Canada
Number of socially responsible investment options expands by five.
NEWS STORY:
Two Africa-focused Funds Merge
Calvert's New Africa Fund and The RISA Fund are merged to create the Calvert South Africa Fund.
NEWS STORY:
Shopping for Responsibility
Internet site is helping consumers base shopping decisions on values.
NEWS STORY:
European Members Urged to Halt Oil Activity in Sudan
U.K.-based charity calls for companies to suspend operations that are supporting an ongoing war.
NEWS STORY:
Worker Files Shareholder Resolution with United Technologies
Shareholders will be asked to support the linking of executive pay with employee satisfaction.
NEWS STORY:
Procter & Gamble Heads List of 100 Best Corporate Citizens
Business Ethics magazine recently published their annual rankings of the companies that best serve a diverse group of stakeholders.
NEWS STORY:
The Dirt on Selling Green
The lessons learned from case studies on marketing environment-friendly, "values-based" products are examined in a new report.
NEWS STORY:
The Ariel Fund Finds Value in a Down Market
Success of small- and mid-cap fund comes from identifying high-quality, undervalued companies.
NEWS STORY:
New Venture Fund Aims to Shed Some Light
The first solar energy venture fund will provide capital to companies distributing solar energy products or services in unelectrified rural areas in developing countries.
NEWS STORY:
New UNEP Website Helps Businesses Save Ozone
On-line resource will assist companies in trading ozone-destroying halons so that new production can be reduced.
NEWS STORY:
Mutual Fund Breaks New Ground in Community Investment
The CRA Qualified Investment Mutual Fund now allows investors to direct their money to specific communities.
NEWS STORY:
Top Ten Wood Product Companies Could Help Make Global Sustainable Forestry a Reality
A new World Wildlife Fund report states that the largest wood processors and buyers could tip the balance toward sustainable management of the world's forests.
BOOK REVIEW:
Book Review: The 50 Best Ethical Stocks for Canadians
Investment advisor and corporate social research expert pen book on building a socially responsible investment portfolio of individual stocks.
NEWS STORY:
Semiconductor Manufacturers to Limit Emission of Potent Greenhouse Gas
Voluntary agreement with EPA aims at a 10 percent reduction below 1995 baseline level.
NEWS STORY:
Do You Own Big Tobacco Stock?
Some well-known conventional mutual funds and pensions funds own big chunks of America's largest tobacco companies, Philip Morris and R.J. Reynolds.
NEWS STORY:
Domini Social Index Goes Live
Leading social investment benchmark becomes more accessible with introduction of live feed.
NEWS STORY:
Citizens Emerging Growth Fund Focuses on Accelerated Earnings
Company-specific criteria remain key in volatile market.
NEWS STORY:
Number of Women in High-level Executive Jobs Still Low
International Labour Organization report says more women are working but still few at the top. This is despite some recent studies by consultants that conclude women are as effective at managing as men.
NEWS STORY:
New Tech Incubator Warms to Socially Responsible Firms
A Washington, D.C.-area patent lawyer sparks formation of a tech incubator that aims to promote good corporate citizenship.
NEWS STORY:
Self-Help Credit Union Reaches Milestone in Community Investing
From humble beginnings in the back of a Volkswagon Beetle, non-profit lender generates $1 billion in financing.
NEWS STORY:
Shareholder Resolution Vote Nudges Emerson on Equality
Support from shareholders at annual meeting pushes electronic manufacturer to reconsider implementing a sexual orientation non-discrimination policy.
NEWS STORY:
Smithfield Sued for Letting Pig Manure Out of the Poke
Environmental group says litigation is needed to stop hog producers from polluting waterways.
NEWS STORY:
Green Investment Advisor Likes All Industries
Light Green Advisors takes unconventional approach to selecting top environmental performers.
NEWS STORY:
California's Supreme Court to Decide Corporate Whitewash Trial
Suit charging Nike with false advertising regarding its labor practices has implications for corporate image advertising.
NEWS STORY:
FTSE Steps Forward with Four New Socially Responsible Indices
Four indices will be divided by geographical region with goal of advancing global social investing standards.
NEWS STORY:
New Association Promotes Social Investing in Asia
Organization's first goal of being an Internet-based social investing resource is realized as website goes online today.
NEWS STORY:
Study Examines Corporate Perspective on Supporting Causes
Companies view philanthropy in terms of achieving business goals, but not all are marketing their charitable efforts to the fullest extent.
NEWS STORY:
Shareholder Resolutions Successful in Changing Employment Policies
At least nine shareholder resolutions regarding equal employment practices have been withdrawn because companies have acceded to shareholder demands.
NEWS STORY:
New International Society Marries Technology and Ecology
Representatives of AT&T and Motorola join researchers, policy makers and environmental advocates to launch the International Society of Industrial Ecology.
NEWS STORY:
Labor Issue Database May Lighten Social Research Workload
International Labour Organization compiles database of Internet sources of information on corporate social responsibility-related employment and labor issues.
NEWS STORY:
Fuel Cell Car Tests Moving Along
Mazda and DaimlerChrysler first to test fuel cell vehicles on public roads in Japan, while Honda tests a new version of its fuel cell vehicle in California.
NEWS STORY:
BP Amoco Feeling Pressure on PetroChina Holdings
Protests held last week support a shareholder resolution demanding BP Amoco's divestiture from Chinese energy company.
NEWS STORY:
Growth Dips in Natural Foods
Analysts unsure whether flat sales are a blip or a harbinger of things to come.
NEWS STORY:
Turning Hotels Green with Demand
Various stakeholders are working together to catalyze the supply and demand of environmentally responsible hotels and conference facilities.
NEWS STORY:
Wealthy Say Estate Tax is Necessary
Doing away with the estate tax called “bad for our democracy, our economy, and our society.”
NEWS STORY:
Justification for High Executive Pay Loses Footing
While fairness remains the major issue, two studies and a growing trend among executives also cast doubt on the effectiveness of huge compensation packages.
NEWS STORY:
Reputations of Older Firms Weather Chaotic 2000
Study finds that the reputations of some technology companies lost a little of their shine compared to 1999.
NEWS STORY:
Profile: Smith Barney Asset Management's Private Portfolio Group
The investment strategy of their Social Awareness Investment arm integrates fundamental financial assessment with research on socio-cultural trends and issues.
NEWS STORY:
Human Resources Practices Linked with Shareholder Value
Research in North America and Europe by global consulting firm finds companies with certain human resources policies can have over 25 percent higher market value.
NEWS STORY:
Fair Labor Association Approves Seven Companies for Monitoring
Apparel manufacturers' commitment to higher labor standards to be verified by independent monitoring organizations.
BOOK REVIEW:
Book Review: Comeback Cities
Community development corporations spotlighted in recent book on revitalizing cities.
NEWS STORY:
Oekom Measures Food Industry's Appetite for Corporate Social Responsibility
German research firm publishes a study on the social and environmental performance of international food corporations.
NEWS STORY:
Growth May Not Equal Progress
A study of economic progress using a macroeconomic benchmark, the Genuine Progress Indicator, finds that there are hidden costs to U.S. economic growth.
NEWS STORY:
SEC Asked to Enforce Its Environmental Disclosure Rules
Socially responsible financial firm and international think-tank believe shareholders need more information about their companies' environmental risks.
NEWS STORY:
Global Compact Again Promoted at Davos
Secretary-General of the United Nations urges business leaders to "play their part in building the missing social infrastructure of the new global economy."
NEWS STORY:
Gang of Socially Responsible Angels
Angel investor group injects venture capital into promising, socially responsible start-up and early stage businesses.
NEWS STORY:
Major Canadian Retailers Receive Resolutions on Sweatshops
Shareholders ask for verifiable commitment to better working conditions for supplier and subcontractor employees.
NEWS STORY:
Walden Takes Shareholder Activism to New Level
Asset management firm acts on behalf of clients in filing or co-filing over 30 shareholder resolutions this year.
NEWS STORY:
Social Mutual Funds Ride Green Technologies to the Top in 2000
Last year's best performing social mutual funds can thank clean and green technologies for their success.
NEWS STORY:
Socially Responsible "Junk" Bond Fund Near Head of Pack
After its first year, Pax World High Yield Fund is a strong performer relative to other bonds in its class.
NEWS STORY:
Unibanco Launches SRI Research in Brazil
SRI reports to provide foreign institutional investors with information on the environmental and social practices of major Brazilian companies.
BOOK REVIEW:
Book Review: Investing With Your Values
Thorough handbook on socially responsible investing is revised for the 21st century.
NEWS STORY:
U.K. Fund Managers Eye Socially Responsible Investment
New survey reveals many investment fund managers in the U.K. expect interest in socially responsible investment to continue growing.
NEWS STORY:
Swedish Company Goes for Global Environmental Responsibility
Skanksa becomes the first construction-related company in the world to extend environment certification throughout its entire global operations.
NEWS STORY:
New Labeling Program May Clear the Air in Your Office
Certification program tests interior construction materials, furnishings and office equipment for the emission of gases and pollutants.
NEWS STORY:
Resolution on Arctic Wildlife Refuge Planned for BP Amoco
Other planned resolutions concern global warming and BP Amoco's stake in PetroChina.
NEWS STORY:
Chicago Community Loan Fund Meeting Human Needs
Loans for affordable housing, social service and other projects benefit low- and middle-income Chicago neighborhoods.
NEWS STORY:
Greener Multinationals Have Higher Market Value
A study tying high corporate environmental standards with greater market value adds to the growing body of evidence that poor environmental performance does not pay.
NEWS STORY:
Delta Sets Course for Increased Diversity
New program will train women and minority pilots, who then will be given priority employment consideration by Delta.
NEWS STORY:
Asian Mutual Fund Sets New Standard for Promoting Women's Issues
Singaporean fund manager not only invests in companies that are proactive on women's and family issues, but also contributes fund expense fees to women's development programs.
NEWS STORY:
SEC Disclosure Regulation Promotes Transparency
A new law governing how companies disclose information may be contributing to short-term volatility, but should be beneficial to all stakeholders over the long term.
NEWS STORY:
Canadian Business Organization Promotes Education on Corporate Social Responsibility
The Certificate in Corporate Social Responsibility program will give professionals the opportunity to learn how corporate social responsibility can fit into their own organizations.
BOOK REVIEW:
Book Review: Socially Responsible Investing
Social investment industry pioneer Amy Domini pens a new, comprehensive book on the whys and hows of socially responsible investing.
NEWS STORY:
Leviticus 25:23 Alternative Fund Puts Money Where Its Faith Is
Religious-based community development organization is working to lift the lot of the economically disadvantaged.
NEWS STORY:
New Organization Facilitates Global Social Investing
A coalition of research organizations is working to provide investors greater access to worldwide social investment research products and services.
NEWS STORY:
Five Top Social Investing Stories of 2000
The end-of-the-year news roundup reflects socially responsible investing's continued march into the mainstream.
NEWS STORY:
Companies, NGO's and Governments Develop Human Rights Principles
Oil and mining companies, NGO's and the U.S. and U.K. Governments have jointly developed voluntary guidelines to reduce the risk human rights abuses when extractive industries operate abroad.
NEWS STORY:
Environmental Performance Linked to Shareholder Returns
Conclusions in a new report support the growing body of evidence that a positive relationship exists between corporate environmental practices and financial returns.
NEWS STORY:
Acuity Introduces Two New Funds
The Canadian mutual fund firm unveils two products with active social missions, expanding its fund offerings to 24.
NEWS STORY:
High-tech Company Websites Receive Mixed Grades
A California environmental organization evaluates the quality of environmental disclosure contained on the websites of high-tech companies. The results are relevant to social investors.
NEWS STORY:
Canada Values Social Investment
A new study reveals that socially responsible investment in Canada has reached nearly $50 billion.
NEWS STORY:
Ford Employees Offered Ride in Socially Responsible Investment Vehicle
Ford's decision to offer the Domini Social Equity Fund in its 401k plan reflects the increasing number of retirement plans offering socially responsible investment options.
NEWS STORY:
Shareholder Resolution Reaches Out to Touch AT&T
A group of investors recently announced the filing of a shareholder resolution with AT&T, asking the company to reconsider its partnership with porn distributor The Hot Network.
NEWS STORY:
IBM, Johnson & Johnson and Polaroid Aim to Save Money by Saving the Environment
Forward-thinking multinationals are opting to cut costs and greenhouse gas emissions by participating in the World Wildlife Federation's Climate Savers Program.
NEWS STORY:
Green Technologies Suit Social Mutual Funds
Some top performing social mutual funds owe their good returns to the success of clean and green technologies.
NEWS STORY:
KLD Unveils Broadest Social Index
KLD marks its 10th anniversary with the launching of the Broad Market Social Index.
NEWS STORY:
Liz Claiborne and J.C. Penney Criticized for Use of Crazy Horse Name
A protest at Liz Claiborne headquarters yesterday held by the American Indian community spotlights unauthorized corporate use of American Indian images and names.
NEWS STORY:
Nike Endorses CERES Principles
After nearly two years of discussion and fact-finding by both parties, Nike endorses the CERES Principles.
NEWS STORY:
Bayer Decision Inflames Public Interest Groups
Bayer's appeal for a hearing on a proposed FDA ban has the potential to harm thousands.
NEWS STORY:
Socially Responsible Coffee Companies Are Making Bean Counters Smile
Green Mountain Coffee's recent stock split announcement is the latest indication of strong financial performance by forward-thinking coffee companies.
NEWS STORY:
Recycling Computes for IBM
Computer giant decides to expand recycling program to include individual customers and small businesses.
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Evergreen Solar Goes Public
Evergreen becomes the second U.S.-owned, publicly traded solar energy product company.
NEWS STORY:
Green Loan Fund Supports Environmental Enterprises in Latin America
EcoLogic Enterprise Ventures has created a model where loans for economic development help promote tropical forest conservation.
NEWS STORY:
Surveys Reveal Investors Will Pay for Good Governance
Global surveys published in The McKinsey Quarterly indicate institutional investors are willing pay a premium for well-governed companies.
NEWS STORY:
Shareholder Resolution Follows Associates First Capital to Citigroup
Groups of investors led by the Presbyterian Church (USA) file a resolution calling for Citigroup to implement policies that ensure employees and brokers do not engage in predatory lending practices.
NEWS STORY:
Investors Aim to Bottle Pepsi and Coke Waste
Shareholder resolution will push for the adoption of comprehensive plastic recycling strategies at two of the nation's largest soft drink makers.
NEWS STORY:
Auto Makers Driving to the Greener Side
Major manufacturers have viable technology on the market, but cost and convenience hinder consumer acceptance.
NEWS STORY:
One Year After Seattle
In the year after the Seattle WTO protests, efforts to develop rules of conduct for multinationals continue to grow.
NEWS STORY:
Investors Prod CEO's to Adopt New Reporting Standards
Letter to corporate heads urges adoption of standardized sustainability reporting measures for Year 2000.
NEWS STORY:
NAACP Issues Banking Industry Report Card
A recent NAACP report card slamming the banking industry has the right objectives, but the methods used to determine grades spur questions about the report's conclusions.
NEWS STORY:
Coke Settles Racial Discrimination Suit
Coca-Cola Co. has agreed to a large, multi-faceted settlement of a racial bias suit that includes compensation for plaintiffs and third-party monitoring of internal employment practices.
NEWS STORY:
Chiquita Certified as Better Banana
Chiquita Brands International, Inc. announced today certification of 100 percent of its owned farms in Latin America by the Rainforest Alliance's Better Banana Project.
NEWS STORY:
Mercury Thermometers Lose Shelf Space
CVS and Longs Drug Stores join growing number of retail firms acting to curb mercury thermometer sales.
NEWS STORY:
Microsoft Resolution Spotlights Shareholder Concern Over Soft Money
A resolution calling for Microsoft to report its political contributions highlights increasing shareholder attention to the corporate influence of elected officials.
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Calvert Group Pioneers Shareholder Activism Issues
Controlling workplace violence and enabling persons with disabilities are high on the list of Calvert's resolutions for next proxy season.
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Forest Stewardship Council Faces Challenge from Forest Industry
Industry-supported Sustainable Forest Initiative asserts its own "green" forestry practices.
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Shared Interest Launches African Century Challenge
A three-year initiative to double loan capital will help ensure economic democracy in the new South Africa.
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European Report Quantifies Stakeholder Value
Authors debunk the conflict with shareholder value, and illustrate with the case of the European car industry.
NEWS STORY:
Calvert Family Grows By Two
The nation's largest family of social funds adds a technology fund and a large-cap growth fund.
NEWS STORY:
Hewlett-Packard Brings Information Age to 1,000 Villages
The technology giant announces its "World e-inclusion" strategy to broaden access to digital technology in developing countries.
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EPA Study Highlights Financial Link to Environmental Performance
Report encourages overcoming the barriers to integrating the value of environmental strategies into financial analyses.
NEWS STORY:
Corporations Form Partnership for Climate Action
A coalition of industrial giants join Environmental Defense in initiating market-based reductions to greenhouse gas emissions.
NEWS STORY:
Controversial Companies Help Define Social Investing
Social screens devised by investment managers are challenged by companies that fall through the cracks.
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Mutual Funds Make Socially Responsible Stocking Stuffer
A 30-year tradition of a low minimum investment makes Pax World Balanced Fund a reasonable holiday gift with social impact.
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Faith-based Social Investing Comes to Canada
A new family funds launched by Meritas Financial next year will broaden the horizons for Canadian social investors.
BOOK REVIEW:
Book Review: The Natural Step for Business
A hallmark study brings the experiences of leading businesses with The Natural Step program for sustainability management to a wider audience.
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Sarona Fund Gets Big Social Returns on Small Investments
A Mennonite micro-enterprise fund finds economic promise in low-income communities around the world.
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Seattle Conference Spans the Digital Divide
The Creating Digital Dividends Conference promises innovative applications of digital technology to benefit all of the world's communities.
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The Gap's Labor Rights Record Challenged
A Beverly Hills award ceremony was the focus for ongoing debate about the Gap's responsibility for vendor sweatshops.
NEWS STORY:
Canadian Social Investors Want Impact on Corporations
An Ethical Funds survey reveals the social and environmental values of its 200,000 shareholders.
NEWS STORY:
Frank Coleman Receives SRI Service Award
Vice President at Christian Brothers Investment Services is recognized for his significant contribution to social investing last year.
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San Francisco Investment Advisor Brings Value to Social Investing
Spare, Kaplan, Bischel & Associates' Socially Responsible Value strategy is a balm for growth portfolios.
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Social Investors Challenged to Return to Market Principles
In a recent speech, author David Korten called on social investors to take more drastic measures to reverse the social costs of corporate power.
NEWS STORY:
Green Funds Still On Top
Socially responsible mutual funds that focus on green technology and sustainable practices are top performers this year-to-date.
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World Resources Institute Authors Awarded Moskowitz Prize
Prize-winning WRI economists Robert Repetto and Duncan Austin, authors of "Pure Profit," release follow-up report today.
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Canadian Community Loan Fund Struggles for Retirement Dollars
The Jubilee Fund is pressing the Canadian government to permit retirement plans to include community investments.
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UK Pension Funds Embrace Social Responsibility
A survey by the UK Social Investment Forum reveals how pension funds are responding to the new social investment disclosure law.
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Latin American Companies Win New Ventures Business Competition
World Resources Institute rewards green start-up companies in Latin America with access to venture capital, professional consulting, and $100,000 cash.
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SEC Considers Comments on Auditor Independence
The U.S. Securities and Exchange Commission finds public hearings helpful in resolving conflicts of interest at accounting firms.
NEWS STORY:
Enterprise Launches New Global Social Fund
The Enterprise Group of Funds introduces the Global Socially Responsive Fund in collaboration with Rockefeller & Co.
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Corporate Social Responsibility a Priority in Europe
A recent survey of opinion leaders reveals that European businesses must elevate corporate social responsibility from 'nice to do' to 'need to do.'
NEWS STORY:
Taco Shells Feed Concern over Genetically Engineered Corn
Kraft Foods voluntarily pulls 3 million boxes of taco shell products off the shelves after unapproved GE component revealed.
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Short Term Income Fund Has Long-term Social Impact
Eclipse Ultra Short Term Income Fund gives social investors top performance with minimal risk.
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Ford and Firestone Point Fingers
In what is becoming a historic case in corporate irresponsibility concerning product safety, two companies may get buried by over 3 million tires.
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Albany Loan Fund Celebrates 15 Years of Social Impact
Capital District Community Loan Fund links investors with community projects in need of capital for high social returns.
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Trillium Asset Management Launches First Mutual Fund
The pioneering social research and money management firm enters the growing field of social funds with The Advocacy Fund.
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European and Australian Companies Take on Climate Change
A Cutter Environment report highlights the strides some companies are making in meeting the challenges and opportunities of future climate change.
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The First Global Sustainability Index Turns One
A year after the launch of the Dow Jones Sustainability Group Index, the financial benefits of sustainability-driven companies are well-demonstrated.
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Pax Looks For Balance in Rush to Internet Stocks
Pax World Funds launches a web-based education center after their survey reveals high-risk investing among inexperienced investors.
NEWS STORY:
Shareholders Educate Management on Genetically Engineered Products
Although shareholder support on GE resolutions has been lukewarm, progress is measured through dialogue with management on the issue.
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French Social Investment Poised for Rapid Growth
A rush of socially responsible mutual funds and a pending pension law stand to boost social investing in France.
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Roxbury Sees Value in Socially Responsible Portfolio
A California-based asset manager finds that social criteria reinforce their philosophy of choosing high-quality companies.
NEWS STORY:
Hi-Tech, Alternative Energy Stocks Buoy Social Fund Performance
Year-to-date performance of socially responsible mutual funds reflect positive screening for new sustainable technologies.
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Community Development Partnership Helps Midwesterners Buy Homes
A targeted program spearheaded by the Housing Assistance Council and the Federal Home Loan Bank of Topeka helps boost home ownership in rural communities.
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Citizens Challenge Companies to Go Beyond the Bottom Line
A recent Harris poll indicates Americans think corporations have gained too much power, despite their positive impact on the economy.
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Calvert Publication Offers Broader View of Social Trends
Quality of Life Indicators measure national "well-being," the backdrop for many of the issues addressed by social investors.
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Friends Ivory Funds Teams Up with gfn.com
The Gay Financial Network provides easy access to socially responsible investment products through partnership with Friends Ivory Funds.
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Islamic Index Fund Puts Faith in Finances
A new faith-based socially responsible mutual fund adds additional "sin" screens to the list.
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Family-Friendly Companies Reap Economic Rewards
Working Mother magazine announces this year's "100 Best Companies for Working Mothers," citing bottom-line benefits to companies listed.
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European Equity Fund Fights Global Warming
An innovative new limited partnership encourages energy efficiency and carbon trading in industrialized eastern Europe.
NEWS STORY:
Corporations Consider Diversity Beyond the Workforce
A groundbreaking benchmark study looks at how corporate diversity initiatives have grown to include external business practices.
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Corporate Leaders Hold Summit on Climate Change
The Business Roundtable hosts meeting with universities and government agencies to explore technological solutions to climate change.
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Social Investors Support Boycott of World Bank
An international coalition of social action groups is enlisting the aid of institutional social investors to push for World Bank reform.
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Report Highlights Executive/Worker Pay Gap
Just in time for Labor Day, a report from Institute for Policy Studies and United for a Fair Economy stresses excessive CEO compensation.
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Toyota Leads Suppliers into Green Parade
In the greening of the automobile industry, Toyota once again asserts its leadership by requiring suppliers to be environmentally responsible.
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Northwestern Community Fund Seeks Economic Justice
Cascadia Revolving Fund provides loans and technical support to small businesses that employ low-income people and minorities in the shadow of prosperity.
NEWS STORY:
Calvert Group Gains Bridgeway Fund
Two firms announce plans to merge Bridgeway Social Responsibility Portfolio into new Calvert product.
NEWS STORY:
Glass Ceiling Still Unshattered
Despite gains in the economic opportunities for women, efforts to include them equally in company leadership still have a way to go.
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Report Rates Environmental Record of Leading Oil Companies
A new survey by Innovest finds Royal Dutch/Shell in the lead for addressing environmental challenges.
BOOK REVIEW:
Book Review: Economic Apartheid in America
A startling new book by co-founders of United for a Fair Economy highlights the downfalls of an economic boom that has left millions of Americans behind.
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Clash of the Green Car Titans
Ford Motor Company and General Motors compete for the title of the most environmentally responsible auto manufacturer.
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Minority- and Women-owned Community Banks Gain Recognition
The National Bankers Association reports member banks that have received federal community development financial institution certification.
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Swedish Internet Tool Promotes Sustainability
A tool being developed by Global Responsibility will allow companies to report on their sustainability policies and practices for all stakeholders.
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Labor Takes Lead Role in Shareholder Activism
Shareholder resolutions supported by labor shareholders indicate a growing consensus with other social investors.
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Freddie Mac Targets Predatory Lending
A public information campaign launched in 12 cities nationwide stands to alert millions of Americans about abusive lending practices.
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Corporations Collaborate on Green Power Markets
Eleven major U.S. businesses are working to develop corporate markets for alternative energy sources.
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Lowe's Launches Forest Protection Initiative
The world's second-largest home improvement retailer adopts an ambitious wood products procurement policy to save endangered forests.
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Index Ranks Gay-Friendly Companies
Apple, Xerox, Lucent, and American Airlines top the glvIndex of companies with progressive policies on gays, lesbians, and transgender persons.
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The Corporate Library Announces Research Awards
A leading website on corporate governance and performance highlights the growing body of research in this area with its first annual awards.
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Workers Report on Ethics in U.S. Companies
A national survey of American workers reveals that companies still have a way to go to improve ethical practices.
NEWS STORY:
Calvert Group Focuses on Technology
A leading provider of socially screened mutual funds plans to launch the first technology sector fund in the industry.
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Interface Introduces Corny Carpet Tiles
The first biodegradable carpet product on the market meets the industry leader's goal of environmental sustainability.
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British Fund Managers Examine Company Social and Environmental Performance
In a series of seminars sponsored by the UK Social Investment Forum, pension fund managers come up to speed for new disclosure law.
NEWS STORY:
UN Meeting Marks Launch of Global Compact
Nearly 50 multinational corporations sign UN agreement to uphold human rights, labor, and environmental principles, despite public criticisms.
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Harris Bretall Analyst Is a Valuable Asset
An interview with Harris Bretall Vice President and Research Analyst Lloyd Kurtz reveals his wealth of experience in the evolution of social investing.
NEWS STORY:
Shanghai Conference Targets Chinese Workplace Standards
Sponsored by four leaders in socially responsible investing, the third annual Verite conference strives to stamp out sweatshops in China.
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Tiny Bridgeway Fund Has Big Ideas
Bridgeway Social Responsibility uses a unique screening process to achieve great performance at low risk.
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Merrill Lynch Fund Participant Pioneers Divestment Resolution
A shareholder resolution urging the divestment of Freeport McMoran stock marks a significant breakthrough in mutual fund governance.
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Global Climate Coalition Cools Down
Three years after launching an aggressive advertising campaign debunking global climate change, industry leaders find more positive venues.
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Ithaca Credit Union Reaches Youth Community
Alternatives Federal Credit Union embraces community development through a variety of innovative programs for underserved communities, including teenagers.
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German Companies Compensate Nazi Slave Laborers
The recently signed agreement between the German government, German companies, and victims of the Holocaust pledges billions of dollars of compensation.
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Shareholders Challenge Ford Recapitalization Scheme
Ford "Value Enhancement Plan" tips the scale of good corporate governance, according to two leading institutional investors, TIAA-CREF and CalPERS.
BOOK REVIEW:
Book Review: "Global Codes of Conduct"
A new resource on the growing number of codes for corporate behavior provides valuable insights on their history and their future.
NEWS STORY:
AT&T Shareholders React to Pornographic TV Deal
A coalition of religious and socially concerned institutional investors calls on the telecommunications giant to reconsider partnership with The Hot Network.
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New United Nations Center Highlights Corporate Involvement
The World Conservation Monitoring Centre is funded in part by leaders in the extractive and tourism industries.
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New British Law Encourages Socially Responsible Pension Funds
Disclosure law effective this month brings UK pension funds to the forefront of socially responsible investing in the European Union.
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Social Funds Ride the Technology Bronco
While many socially responsible mutual funds have taken a beating on technology stocks so far this year, some have found the right technologies to bank on.
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Human Rights Compel Social Investors
Social investors from diverse backgrounds find common ground in human and labor rights issues.
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Shareholders Vote on Predatory Lending
Associates First Capital, the largest subprime lender in the U.S., has become a lightning rod for concerns about predatory lending practices.
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Sustainable Jobs Fund Makes Virtuous Ventures
A new venture capital fund stands to create quality jobs while growing responsible businesses.
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Canadian Fund Family Publishes Proxy Voting Guidelines
Ethical Funds bucks tradition in Canada, and forges ahead on shareholder advocacy, by publishing how they vote on corporate social and environmental issues.
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OECD Revises Guidelines for Business Conduct
International guidelines launched by the Organization for Economic Cooperation and Development stand to reinforce responsible business practices in the global economy.
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New Mexico Fund Opens Doors
Dedicated to economic empowerment of low-income people, the New Mexico Community Development Loan Fund celebrates ten years of lending.
NEWS STORY:
Calvert Social Index Goes Live
The recently launched benchmark of socially responsible companies is now available for real time distribution by news services.
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Delaware Law Allows "Virtual" Annual Meetings
Despite strong criticism from social investors and others concerned with corporate governance, Delaware governor signs bill into law.
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Denny's Reverses Direction on Diversity
Once a symbol of racial discrimination, Denny's restaurant's parent company Advantica tops Fortune magazine's "50 Best Companies for Minorities."
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Supreme Court Strikes Down Massachusetts Burma Law
Despite the setback to the state selective purchasing law, investors and consumers regroup to continue their efforts for democracy in Burma.
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WTO Wins Congressional Approval
Despite overwhelming support in the U.S. House of Representatives, the World Trade Organization meets renewed resistance from environmental and human rights groups.
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Kohl's Shareholders Vote on Vendor Standards
Nicaraguan workers fired over union activity helps spark support for independent monitoring proposal.
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Ethical Funds Launches Four New Funds
Canada's largest family of socially screened mutual funds grows half-again as large.
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Long-time Leader of ICCR Announces Retirement
Tim Smith, a recognized leader in the corporate responsibility movement, plans to retire as executive director of the Interfaith Center on Corporate Responsibility.
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Report Highlights Global Social and Economic Inequities
A new report from Worldwatch Institute shows how social and economic trends around the world are confounding efforts to reverse environmental degradation.
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Starbucks Reinvents the Coffee Cup
A leader in the specialty coffee business partners with the Alliance for Environmental Innovation to make strides in environmentally responsible coffee drinking.
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Internet Companies Lead New Energy Economy
A Center for Energy and Climate Solutions report reveals the enormous environmental benefits of Internet technology, citing IBM's leadership.
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Canadian Credit Union Launches International Community Deposit
VanCity introduces a community investment vehicle that benefits underserved communities around the world.
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UN Development Programme Abandons Corporate Partnership
Responding to pressure from environmental, labor, and human rights groups, the UN cancelled plans for one component of its "Global Compact" with corporations.
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McAuley Institute Introduces Women's Homeownership Program
The women-led community development corporation, established by the Sisters of Mercy, is launching a national initiative to increase the number of women who own homes.
NEWS STORY:
World Bank Approves Chad-Cameroon Pipeline
Shareholders and activists charge that the controversial ExxonMobil project threatens the environment and human rights of people in two West African countries.
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Microsoft Ruling Puts Corporate Responsibility in Question
The software giant has been found guilty of antitrust violations; how will it size up to social investors now?
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Shareholders Support Board Independence at Cablevision Systems
Two TIAA-CREF resolutions on board independence, one at Cablevision and another at Telephone and Data, receive more than 40 percent support from shareholders.
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Bristol-Myers Squibb Leads Pharmaceutical Industry in "Eco-Efficiency"
In an Innovest report on the environmental performance the top 23 pharmaceutical companies in the U.S., environmental leaders outperform laggards in the stock market.
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ExxonMobil Shareholders Vote on Gay Rights
A shareholder resolution on sexual orientation non-discrimination suggests that the oil giant is in denial on more than global warming.
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China Trade Normalization Raises Questions for Investors
The recent congressional vote on trade with China stands to improve or further jeopardize environmental and human rights problems there, depending on who you ask.
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Domini Launches Social Bond Fund
In a unique partnership with South Shore Bank, Domini Social Investments introduces a socially screened bond fund with community impact.
NEWS STORY:
Oekom Surveys Environmental Performance of Electronics Industry
The German environmental research firm finds Ricoh and Electrolux to be environmental leaders among 30 international electronics and IT companies.
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Calvert Launches LGBT Community Loan Program
A community loan program introduced by Calvert Foundation provides investment capital to gay, lesbian, bisexual, and transgender communities.
NEWS STORY:
AT&T Shareholders Ask Management to Share in Sacrifices
Seven shareholder resolutions on social and corporate governance issues stir up shareholder activism in the second most widely owned company in the U.S.
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Innovest Helps Dutch Bank Launch Environmental Fund
The Sustainable World Fund launched in Holland is supported by Innovest's global experience in environmental performance research.
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Shareholders Urge McDonalds to Go GE-Free
Fueled by concerns over health and environmental risks, shareholders ask the "Golden Arches" to keep genetically engineered ingredients off the menu.
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Eco*Index Rewards Environmental Leaders
A new index launched by Light Green Advisors this year benefits from the environmental performance of leading companies.
NEWS STORY:
Shorebank Offers National Banking with Community Impact
The oldest and largest community development bank in the U.S., Shorebank is uniquely positioned to be the bank of social investors.
NEWS STORY:
Citizens Funds Makes Gains on Board Diversity
Three shareholder resolutions meet with success, highlighting Citizens efforts to create fairer representation in corporate boardrooms.
NEWS STORY:
Pax Goes Public with Proxy Voting Results
The first socially responsible fund becomes the second to publicize the results of their proxy voting activities.
NEWS STORY:
French Company Feels International Pressure on Labor Rights
Imerys at odds with union and shareholder concerns representing U.S. workers' rights in Alabama plant.
NEWS STORY:
Aquinas Funds Makes Social Investing a Matter of Faith
The leading Catholic family of mutual funds finds common ground with socially responsible investors, and leads the way in shareholder dialogue.
NEWS STORY:
AIG Shareholders Call for Corporate Democracy
Three shareholder resolutions facing American International Group today called for greater independence in the insurance giant's board of directors.
NEWS STORY:
California State Treasurer Launches Community Investment Initiative
In a report released last week, Treasurer Philip Angelides musters $8 billion of investments in domestic emerging markets to help underserved communities.
NEWS STORY:
Social Investors Rise to New Challenges at National Conference
At a meeting held in New York this week, socially responsible investment professionals reveled in a decade of outstanding growth, but did not rest on their laurels.
NEWS STORY:
Rio Tinto Shareholders Address Labor Abuses
Two union-backed shareholder resolutions call on the European mining giant to adhere to international human rights conventions.
NEWS STORY:
Calvert Launches Linked Account for Social Impact
A new product combines measurable social returns with the flexibility and liquidity of a money market account.
NEWS STORY:
Vanguard Introduces Social Index Fund
In a giant stride into the mainstream, a socially screened mutual fund is offered by one of the largest fund families in the U.S.
NEWS STORY:
Ford Adopts CERES Principles at National Conference
The national conference of the Coalition for Environmentally Responsible Economies (CERES) was the backdrop for Ford Motor's historic endorsement.
NEWS STORY:
Calvert Launches New Social Index
The Calvert Social Index provides a valuable benchmark for social investors using the broad-based screens of a veteran fund family.
NEWS STORY:
Nike CEO Retracts University Donation over Human Rights
Founder Philip Knight canceled a $30 million gift to University of Oregon after the school took a stand on international labor and human rights.
NEWS STORY:
Shareholders Examine Executive Compensation
A shareholder resolution at Honeywell suggests a link between CEO and worker pay to curb the widening income gap.
NEWS STORY:
Domini Social Index At Ten Years Old
On the tenth anniversary of its socially screened stock index, Kinder, Lydenberg, Domini & Co. has much to celebrate. So do social investors.
NEWS STORY:
Ohio Fund Finds Room for Children to Grow
Ohio Community Development Finance Fund promotes the social benefits of adequate childcare facilities across the state.
NEWS STORY:
Pax World Funds Brings Computer Trash Out of the Closet
A leading socially responsible fund family makes computer recycling a high-profile issue for social investors.
NEWS STORY:
GE Shareholders Want Disclosure on Political Spending
Both inside and outside the annual meeting of General Electric, shareholders and protestors lean hard on soft money and several other social issues.
NEWS STORY:
Earth Day 2000 Marks Threshold in Green Investing
On the 30th anniversary of the national ecological celebration, Portfolio 21 is pioneering environmental sustainability as a pocketbook issue.
NEWS STORY:
Annual Conference Offers Inspiration for Social Investors
The fourth annual "Making a Profit While Making a Difference" conference provides a wealth of information for both high-net-worth individual and institutional investors.
NEWS STORY:
Tomorrow's Business Leaders Strive for Corporate Responsibility
A commencement speech by Citizens Funds' Joseph Keefe prepares the next generation of managers for the new landscape of socially responsible business.
BOOK REVIEW:
Book Review: Robin Hood Was Right
Three leaders in giving for social change provide a primer for tomorrow's philanthropy, taking a hard look at the pitfalls of traditional charity giving.
NEWS STORY:
IBM Tops List of 100 Best Corporate Citizens
In a survey by Business Ethics magazine, some corporations shine in their commitment to diverse stakeholders.
NEWS STORY:
Washington Protests Deliver Message to World Bank, IMF
Although they did not shut down international finance meetings, peaceful demonstrations yesterday remained a reminder of the social costs of unfettered globalization.
NEWS STORY:
Wealthy Activists Confront Economic Inequality
At their national conference Responsible Wealth members examine what they can do as business leaders to promote a broader prosperity.
NEWS STORY:
Shareholder Resolutions This Year Have Ups and Downs
A summary of withdrawals and SEC decisions on social and environmental proposals defines the landscape for this year's proxy season.
NEWS STORY:
Friends Ivory & Sime Engages Companies on Human Rights
The London-based social investment firm launches a unique human rights initiative through dialogue with company management.
NEWS STORY:
Your Company May Have Already Won...the Greenwash Sweepstakes
With Earth Day 2000 around the bend, Corporate Watch draws the attention of consumers and investors to corporate "greenwash."
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MMA and Calvert Collaborate on Community Investment
Mennonite Mutual Aid breaks into the community development investing market with the help of Calvert Foundation, bringing millions of dollars of capital to underserved communities.
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Shareholders Work to Close the Income Gap
Responsible Wealth members filed ten shareholder resolutions this year urging companies to share their profits more widely with employees.
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PetroChina IPO Raises Social Concerns
The initial public offering of a Chinese state-owned enterprise raises concerns over human rights, environment, and corporate governance.
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UNEP Surveys Sustainable Investment Products
Reflecting the growing global interest in socially responsible and related investments, the United Nations Environmental Programme is preparing a database to help inform investors.
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Sony Leads Home Electronics in Environmental Responsibility
Report from a German environmental research firm assesses the environmental record of seven manufacturers of home electronics, finding much room for improvement.
NEWS STORY:
TIAA-CREF Offers Two Social Investment Products
The pension fund giant breaks all the barriers, providing a screened mutual fund to individual investors at a fraction of the usual cost.
NEWS STORY:
Talisman Challenged over Human Rights in Sudan
The Canadian energy company faces a shareholder resolution regarding the human rights implications of their operations in war-torn Sudan.
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Shareholders Turn up the Heat under ExxonMobil
A coalition of shareholders and consumers is putting the oil company's stand against the validity of global warming to the test.
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FAFN Forges New Links Between Social Investors
First Affirmative Financial Network is bringing social investing to a new level of organization and updating the corporate culture of investment management.
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Social Investment Makes Sense to California State Treasurer
Leading other state and local governments, the Treasurer of California uses state funds to promote social goals.
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Shareholders Weigh in on Proxy Advisor Scheme
At the Whole Foods annual meeting today, shareholders voted on a pioneering proposal to hire an proxy advisory firm, giving them a more independent and informed voice.
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Proxy Monitor Brings Shareholder Savvy to Institutional Investors
Socially Responsible Investor Services, a division of Proxy Monitor, guides the mission-based advocacy of leading mutual funds and other social investment institutions.
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R.R. Donnelley's Shareholders Balk on Pay Equity
A shareholder resolution voted on today asked the printing giant to conduct a voluntary pay equity audit, but received less support than last year.
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Businesses Play Key Role in Human Rights
Amnesty International reports on improvements in the human rights records of corporations, and finds much work still to be done.
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Greenpeace Takes On New Role as Royal Dutch/Shell Shareholder
The environmental organization renowned for attention-getting activism buys Shell shares to urge the company toward solar production.
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TIAA-CREF Raises the Bar on Corporate Governance Principles
The pension giant takes an authoritative stand on executive compensation, anti-takeover defenses, and other governance issues.
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Social Investors Prove Their Salt Protecting Whales
Shareholder leverage of 15 mutual funds and money managers helped stop plans to build the world's largest salt plant in a Mexican biosphere reserve.
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Shareholders Are Sick of Rising Pharmaceutical Prices
Resolutions filed with ten pharmaceutical companies represent a renewed effort to bring drug prices within reach of the elderly and underinsured.
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Coke Connects Executive Compensation to Diversity
The soft-drink giant embraces diversity goals in the wake of a racial discrimination suit and a threat of boycott.
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Indexed Stock Options Reward Performance
The controversial alternative to standard options has few supporters among corporate managers, but could stem the recent CEO compensation glut.
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Placer Dome Shareholders Question Environmental Costs of Gold
In an unprecedented resolution successfully filed with a Canadian company, shareholders ask for environmental risk accountability.
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Environmental Groups Endorse Shareholder Resolutions
Friends of the Earth leads a coalition of 11 environmental groups raising public awareness about environmental and social resolutions of shareholder activists.
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WRI Pioneers Method for Assessing Company Environmental Risks
Report from the World Resources Institute illustrates new method with financial measures of future environmental issues for pulp and paper companies.
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UK Fund Family Gets Ecological
Spurred by an impending disclosure law, Pavilion Asset Management leads the ranks by offering a socially responsible pension fund option.
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Shareholders Take on Tobacco Industry
After 20 years of resolutions, cigarette companies and others involved in the tobacco industry still have plenty to learn from shareholders.
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Fannie Mae Faces Scrutiny over Minority Lending Practices
The home loan supplier will undergo inquiry into whether their lending policies discriminate against minority borrowers.
NEWS STORY:
Verité Calls Companies to Conscience on Factories
The humanitarian research organization brings to light accurate data on the global assembly line for the education of manufacturing companies with overseas operations.
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Texaco Cools on Global Warming Debate
The oil giant is the latest company to quit the Global Climate Coalition, further evidence that constructive dialogue will address global warming before the Kyoto treaty.
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NICA Fund Gives Credit to Nicaraguan Communities
A year after their first loan, the Nicaraguan Credit Alternatives Fund has loaned $1.65 million to help rebuild the economy of the Central American nation from the ground up.
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GE Shareholder Asks Company to Renounce Landmines
A resolution filed with General Electric may be the first one addressing antipersonnel landmines to come to a vote.
NEWS STORY:
Who Pays for Corporate Welfare?
As the 2000 U.S. presidential election heats up, citizens consider the undemocratic practice of corporate welfare.
NEWS STORY:
Business Leaders Report on Corporate Responsibility in China
The Business Roundtable asserts that responsible businesses contribute to improved social, labor, and environmental conditions.
NEWS STORY:
Religious Investors Find New Frontiers at MMA Praxis
The Mennonite mutual fund family leads the way to more complete program of socially responsible investing.
NEWS STORY:
Winslow Management Has a Green Thumb for Investments
An interview with Winslow president Jack Robinson reveals how his unique blend of financial and gardening background has resulted in a successful investment style.
NEWS STORY:
Disney Shareholders Get Animated About Employee Ownership
Despite the omission of their resolution urging Disney to make all employees shareholders, activists rise to the occasion to highlight economic inequality.
NEWS STORY:
Shareholders Bring Banks to Account for Three Gorges Dam
A resolution with three international lenders draws attention to their role in the environmental and human rights costs of China's colossal dam project.
BOOK REVIEW:
Book Review: Natural Capitalism
Three visionaries give practical steps toward the next industrial revolution, where business is NOT as usual.
NEWS STORY:
Canadian Firm Launches Social Index
Michael Jantzi Research Associates introduces the first index of socially responsible stocks in Canada.
NEWS STORY:
Shareholders Assert that Equality is Good Business
A collection of shareholder resolutions this year raise equality issues from the level of employees up to the board of directors.
NEWS STORY:
Walden Reflects on Going Global
Six months after launching the first socially responsible international index fund, Portfolio Manager Geeta Aiyer does not take the role of pioneer woman lightly.
NEWS STORY:
VCLF Makes a Big Difference in a Small State
Vermont Community Loan Fund brings a vibrant program of affordable housing, community facilities, and small business to the Green Mountain State.
NEWS STORY:
Friends Ivory & Sime Spans the Atlantic with Two New Funds
The London-based firm announces a fund invested in the U.S. and one in Europe, both for the U.S. market.
NEWS STORY:
Shareholders Lean on Global Corporate Accountability
In shareholder resolutions pending for the 2000 proxy season, global human rights, vendor standards, and other issues of corporate accountability loom large.
NEWS STORY:
Social Index Funds Show the Way
Almost nine years from its launch, Domini Social Equity Fund still leads the pack in terms of performance and raising investor awareness.
NEWS STORY:
Business Ethics Announces Six Social Investment Award Winners
Mutual funds and community investment firms gain high honors for both performance and social activism.
NEWS STORY:
Friends of the Earth Launches On-line Guide to Shareholder Activism
A web-based handbook from the national environmental group provides strategy and resources for shareholder activists.
NEWS STORY:
SIF Reports on Mutual Fund Performance in 1999
The Social Investment Forum finds strong performance among social investment funds last year, adding credibility to the notion that you can do well while doing good.
NEWS STORY:
New Ventures Rewards Start-up Environmental Businesses in Latin America
Environmental companies in six sectors compete for venture capital, professional consulting, and $100,000 cash.
NEWS STORY:
NGOs Author
Groups monitoring the World Economic Forum meeting seek UN leadership in corporate behavior addressing environmental protection and human rights.
NEWS STORY:
SEC Commissioner Speaks Out on Mutual Fund Proxy Voting
Commissioner Paul Carey brings the shareholder voting priorities of mutual fund investment advisers to light.
NEWS STORY:
Shareholders Take On Genetically Modified Organisms
A suite of resolutions filed by shareholders this year pose a significant challenge to the use of genetic engineering in agricultural products and foods.
NEWS STORY:
New Alternatives Fund Invests in a Greener Future
The first environmental mutual fund remains optimistic about the future economic opportunities of alternative energy.
NEWS STORY:
Will Dot-com Businesses Rewrite the Rules of Corporate Governance?
A conference hosted by IRRC draws attention to how high-tech businesses will shape, and be shaped by, the corporate governance movement.
NEWS STORY:
New Fund Smoothes the Fur of Animal Lovers
Salomon Brothers collaborates with the Humane Society to launch a mutual fund with an animal-friendly bent.
NEWS STORY:
Businesses Pool Experience for Guide to Social Performance
A recent publication from the Social Venture Network creates a framework for businesses desperately seeking social responsibility.
NEWS STORY:
Five Businesses Considered Leaders in Environmentally Sound Paper Practices
A report by the Alliance for Environmental Innovation profiles five leading businesses that look good on paper.
NEWS STORY:
Time Warner Takes Hard Line on Soft Money
Recent move by communications giant brings campaign finance reform into purview of socially responsible investors.
NEWS STORY:
Sullivan Principles for Corporate Accountability Go Global
The author of the code of corporate behavior that ushered South Africa out of the Apartheid era brings his uncommon good sense to multinationals around the world.
NEWS STORY:
Funding Social Change Brings Charity Beyond Band-Aids
The Funding Exchange puts social, political, and economic justice into the vocabulary of philanthropy.
NEWS STORY:
Report Finds Oil Industry Responsible for Environmental Impact
Transnational Resource and Action Center report calls on stakeholders to confront oil companies and call for "climate justice."
NEWS STORY:
Texaco Three Years After the Fall
Rising from the ashes of a racial discrimination scandal, the oil giant has become a model for challenging corporate racism.
NEWS STORY:
Meyers Pride Value Fund Is Bullish on Open Workplaces
Fund managers assert that companies with progressive policies toward gays and lesbians will be leaders in the 21st century.
NEWS STORY:
Delta Community Harvests Sustainability in Sweet Potatoes
The Enterprise Corporation of the Delta provides capital for vital community development in rural Mississippi town.
NEWS STORY:
New Mutual Fund Finds Promise in South Africa
Reinvest In South Africa brings social investing back to its roots in the aftermath of Apartheid.
NEWS STORY:
New Citizens Fund Says Small Is Beautiful
One of the premier socially responsible mutual fund families welcomes a new Small Cap Index Fund into the world.
NEWS STORY:
Military Spending: Reprioritizing Pork
Citizens join social investors asking, "How much is enough" national defense, and at what cost?
NEWS STORY:
Green Century Co-sponsors Resolution Against ARCO
Environmental advocates re-file shareholder resolution calling on oil giant to cancel drilling plans in the Arctic National Wildlife Refuge.
NEWS STORY:
Putting the Environment on the Ledger
Accounting for the Environment has moved the world's most powerful international organizations toward weighing environmental costs along with other expenses. When will the U.S. budge?
NEWS STORY:
The Canadian Difference
Social investors in Canada have a certain "Je ne sais quoi," based on cultural, historical, and legal differences north of the border.
NEWS STORY:
The Five Biggest Social Investing Stories of 1999
In the growing field of socially responsible investing, here's five news items that topped the charts and made 1999 a year to remember.
NEWS STORY:
Tobacco Companies Betray American Tobacco Farmers
A recent report reveals that tobacco farmers are in crisis, not because fewer people are smoking but because manufacturers are taking their business elsewhere.
NEWS STORY:
The Genuine Progress Indicator Shows Continued Decline in Quality of Life
While the GDP rises, an alternative index released by Redefining Progress shows that genuine economic progress eludes most Americans.
NEWS STORY:
IPS Millennium Fund Looks Toward the High Technology Future
An interview with Portfolio Manager Robert Loest reveals a mutual fund with personality and futuristic market savvy.
NEWS STORY:
Advocates Muster to Support Massachusetts Burma Law
As the deadline for filing a brief of support with the Supreme Court approaches, human rights advocates urge their local and federal representatives to sign on.
NEWS STORY:
BP Amoco Leads the Industry into a Greener Future
Several recent steps taken by BP Amoco to improve environmental performance have highlighted its leadership in the oil industry.
NEWS STORY:
New Hampshire Community Loan Fund Brings a Merry Christmas to Concord Family
The Home of Your Own Program offers the dream of ownership to low-income families dealing with developmental disabilities.
NEWS STORY:
Green Century Keeps Other Funds Green with Envy
Founded by nonprofit environmental advocacy organizations, the Green Century Funds provide a fresh perspective on mutual fund investing.
NEWS STORY:
Calvert Brings Vanguard into Socially Responsible Arena
A new socially screened index will be the benchmark for the Vanguard Calvert Social Index Fund, not to mention 14 million potential new clients.
NEWS STORY:
United for a Fair Economy Reports on a Decade of Disparity
A new report reveals the growing divide between the rich and poor in the 1990s.
NEWS STORY:
Nonprofits Find Added Value in Venture Philanthropy
Although it will not replace classical philanthropy, venture philanthropy brings grant-making to a new level of engagement.
NEWS STORY:
Ford Has Greener Ideas
Ford Motor Company's recent announcement that it was quitting the Global Climate Coalition could signal a final cooling of the global warming debate.
NEWS STORY:
Labrador Mutual Fund Bounds Into Second Year
Which socially responsible growth and income mutual fund has big brown eyes and fetches high returns?
NEWS STORY:
Jubilee 2000 Marks the Millennium with a Pledge for Debt Relief
An international coalition gathers momentum in its efforts to erase the debt of the poorest nations and the collateral cost to health and social programs.
NEWS STORY:
TIAA-CREF Stands Firmly Against Positive Screening
Despite a three-year campaign by the same participants that brought about the Social Choice Account, TIAA-CREF asserts, "it ain't broken, so why fix it."
NEWS STORY:
Vermont's Finest Ice Cream Faces Homogenization
Ben & Jerry's teeters between its home-grown, socially responsible past and the larger corporate culture in its future.
NEWS STORY:
Can WTO Pick Up the Pieces?
Last week at the World Trade Organization ministerial meeting, there was more consensus between protesters outside than delegates inside the talks.
NEWS STORY:
Who's Paying the Price of CEO Compensation?
With the last proposals for shareholder resolutions in the year 2000 trickling in, executive pay looms large on the proxy horizon again.
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Ray Anderson Ushers In the New Industrial Revolution
At the annual meeting of Interfaith Center on Corporate Responsibility in New York City, the founder of Interface, Inc., shared his views on the sustainable future.
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Third Party Audits of Labor Conditions Go Public
Reebok and Mattel publish reports of overseas factory conditions, raising the bar on human rights monitoring efforts.
BOOK REVIEW:
Book Review: "The Mindful Money Guide"
A back-to-the-woods stockbroker provides socially responsible investors with a broad range of options for letting their conscience be their financial manager.
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Demonstrations are Wake-up Call for WTO
Protesters at the World Trade Organization meeting in Seattle call attention to the social and environmental costs of free trade.
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Community Development Helps Build Cabinets and Job Opportunities
Cooperative Fund of New England boosts small business development in Hartford neighborhood
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Dreyfus Premier Third Century Approaches the Third Millennium
An anomaly in a family of conventional funds, the Third Century Fund is still a pioneer in social responsibility after 27 years.
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Responsible Wealth Expands Shareholder Initiative for 2000
New shareholder resolutions strive to reform corporate governance and check the widening gap in wealth and wages.
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Could 200 Million Guns Be Wrong?
Recent litigation suggests that firearms manufacturers are partly responsible for gun violence, adding weight to the concerns of some investors.
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WTO Is Shiftless in Seattle
The meeting of the World Trade Organization will draw critics of every ilk to protest abusive international trade policies.
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United Nations Foundation Grants $3 Million to Global Reporting Initiative
Grant boosts efforts to find global standards for measuring the social, environmental, and economic performance of companies.
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Calvert Group Funds Screen for Indigenous Peoples' Rights
New investment policy encourages companies to respect indigenous rights in their practices.
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Minimum Wage Bills Have Maximum Benefits for America's Most Affluent
Congress is debating legislation that mixes economic justice with injustice, and risks widening the gap between rich and poor.
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Students Push for Corporate Responsibility at National Conference
Social investing gets a boost from students in the Student Alliance to Reform Corporations.
NEWS STORY:
Two Trillion Dollars in Socially Responsible Investments
Social Investment Forum reports that one out of every eight dollars under management is now invested responsibly.
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Businesses May Lose Federal Dollars over Bad Behavior
An "anti-scofflaw" regulation under consideration would disallow the federal government from doing business with law-breakers.
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CERES Marks a Decade of Living by Principles
Ten years ago, the Exxon Valdez spilled 11 million gallons of oil. The long-term impact on Alaska's coastal ecosystem is still uncertain, but the impact on corporate America can easily be summed up in one word: CERES.
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DEVCAP Shares the Wealth with the World's Poorest
One billion people are living in extreme poverty, earning less than 75 cents a day. DEVCAP Shared Return Fund brings them microenterprise development and hope.
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1999 Proxy Season Round-up
Shareholder resolutions on social and environmental issues carried plenty of weight this year.
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New Bank Deal May Be Bum Deal for Communities
Advocates fear that financial institution mergers could spell disaster for regulatory oversight and community financial needs.
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Shepherd Financial Adds Four Funds to Flock
New funds are boon for Christian and socially conservative investors.
NEWS STORY:
Pax Launches High Yield Fund
Pax World Fund Family introduces the first high yield bond fund for socially responsible investors.
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Calvert Web Site Screens Guns
New feature on web site provides a screen for companies involved in the manufacture of firearms.
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Social Investing Awareness on the Rise
New survey by Calvert Group shows a 13 percent jump in interest and investment in socially responsible funds.
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What Do Women Really Want...from a Mutual Fund?
A chat with Leslie Christian, cofounder of the Women's Equity Mutual Fund, provides a glimpse of how investing in equality for women has finally come into its own.
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Portland Firm Launches Portfolio 21
Just in time for the millennium, Portfolio 21 is a new global mutual fund that bodes a bright future for the environment.
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Calvert Foundation Offers New Community Investment Scheme
The Community Giftshare donor program launched by Calvert Foundation gives donors the opportunity to put their money where they want it most.
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Calvert Tops 1,000 Community Investors
Trend-setting foundation adds to its flock of community benefactors.
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Citizens Gets a Bite of the Big Apple
New York City selects Citizens Advisers for 'socially responsible' portion of deferred compensation plan.
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Clinton Calls for Community Investment
President Clinton tours MMA's community investment sites, calls attention to their good example.
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The New Index on the Block
A new equity index launched by Dow Jones promises to give investors a benchmark for companies committed to corporate sustainability. But what does sustainability mean?
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