September 03, 2012
Rebranded, the SRI Conference Heads East
by Robert Kropp
SocialFunds.com talks with Steve Schueth of First Affirmative Financial Network about the history
of the conference and the decision to locate it at the Mohegan Sun in Connecticut this year. First
of a two-part series.
There may have been a few raised eyebrows among language purists when the long-running SRI in the
Rockies conference was held in New Orleans last year. This year's conference, which opens on
October 2nd, heads even further east—all the way to the Mohegan Sun Conference Center in
Connecticut—but the conference has been rebranded as The SRI Conference on Sustainable, Responsible, Impact
Investing, in part as an acknowledgement to geography but mostly, according to Steve Schueth of
First Affirmative Financial Network,
to register the evolution of an increasingly influential industry.
"The new brand flows from our belief
that all investment decisions have impact," Schueth told SocialFunds.com. "The question is whether
the investor is paying attention and making a conscious choice."
"What continues to evolve
is more and more emphasis on positive impact, as opposed to where we started, which was avoiding
the bad guys," he continued. "Now it's about catalyzing businesses to help us build a more
As President of First Affirmative, Schueth has been involved in
producing the conference for the past 20 years. But in fact, his involvement in it began when he
was an executive with Calvert Investments,
which, he noted, was the earliest sponsor of the conference.
"The commitment that Calvert
has always had to SRI, and the support that Calvert has always provided for the conference, is
significant," Schueth said.
The conference actually originated as a compliance meeting in
1990, when First Affirmative's CEO George Gay gathered 46 representatives together in Colorado, and
named the meeting SRI in the Rockies.
The conference remained a meeting of First
Affirmative representatives until 1996, when Schueth was chairman of the Social Investment Forum,
now US SIF: The Forum for Sustainable and Responsible
Investment. "A strategic partnership between the Forum and First Affirmative led to SRI in the
Rockies becoming an industry conference," Schueth said. "That first conference attracted 240 people
and was held in Jackson Hole, Wyoming."
By 2007, almost 700 investors and investment
professionals attended the conference, and the number of attendees this year is expected to be
"We're very successful in being the gathering place for investors and
investment professionals who are interested in using money in a more positive and transformative
way," Schueth said. "It's still the largest and longest-running event of its kind in North
Much of the focus of last year's conference was on the contribution of community
investment to the recovery of New Orleans from the devastation of Hurricane Katrina. This year,
Schueth said, "The fact that we'll be in the Northeast will be a little bit more convenient for
those folks in the major finance centers of Boston and New York."
Furthermore, he added,
"What attracted us to the Mohegan Sun was the tribe itself." Lynn Malerba, who is only the second
woman chief of the Mohegan tribe in at least 300 years, will deliver the keynote address; she will
also take part in a session on tribal sovereignty.
"What happens to the revenue stream and
the profits from the Mohegan businesses?" Schueth asked. "It goes to the community." The tribe is
also one of the largest taxpayers to the state of Connecticut; furthermore, Schueth added, "They
share their profits with other tribes around the country. There are not that many tribes that are
located near major metropolitan areas where they can build businesses that attract money. The vast
majority of Native American tribes are still dirt-poor."
Also featured on the conference
agenda is Bruce Bozsum, the chairman of the Mohegan Tribal Council as well as the spiritual leader
of the tribe. In addition to taking part in a breakout session on entrepreneurship and economic
development in Native American communities, Boszum will also perform a traditional welcoming ritual
at the start of the conference.
Given that negative screens remain the most widely used
form of sustainable investment—according to US SIF's 2010 Trends Report, 90% of sustainable
investment dollars are invested in negative screens—it is not surprising that locating the
conference at a site most widely known for gaming resulted in a measure of controversy. "It was not
our intention to make gaming and Native American economic development a lightning rod for the 2012
conference," Schueth wrote in March. "We believe that our choice of the Mohegan Sun Conference
Center makes great sense for the SRI/ESG industry, in terms of promoting diversity and encouraging
a greater focus on community impact investing."
"There was a long process in thinking
through and weighing the trade-offs," Schueth told SocialFunds.com. "We feel it is important to
have the conversation so that the SRI community understands a different aspect of community impact
investing as it is practiced by native tribes."
"Running a conference is clearly not our
core business, but we've always looked at this as a service to the industry," Schueth said. "It is
not designed to make money. The number of new initiatives that come out of this conference every
year, especially on the shareholder advocacy front but also for community investing as well, has
been a real value add for the industry."
Next: The list of speakers at this year's SRI
Conference on Sustainable, Responsible, Impact Investing include Nobel Peace Prize recipient
Muhammad Yunus, author Deepak Chopra, and Robert F. Kennedy Jr.
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