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NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | OIL AND GAS INDUSTRY
Climate Scientist Joins Exxon Board
The oil and gas giant responds to years of shareowner action by appointing atmospheric scientist Susan Avery to its board of directors.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | MUTUAL FUNDS
Investors Challenge Mutual Funds on Proxy Voting
Sustainable investment firms respond to update by Ceres by pressuring mutual funds on their proxy voting records relating to climate change. Second in a two-part series.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | MUTUAL FUNDS
Many Large Mutual Funds Continue Failure to Address Climate Change
Ceres updates its annual report on voting climate-related resolutions by mutual funds, noting that several PRI signatories failed to support a single resolution in 2016. First in a two-part series.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | POLITICAL SPENDING
US Chamber Targeted Senate in 2016 Dark Money Spending
Public Citizen reports that only the National Rifle Association spent more than the Chamber of Commerce�s $30 million during the 2016 federal election.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Companies Challenged to Adopt Science-Based Climate Goals
Over 100 publicly traded companies have reported to CDP that they will adopt science-based emissions reduction plans, and letters from members of the Interfaith Center on Corporate Responsibility intend to hold them to their promises.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES | HUMAN RIGHTS
Investors Target Chevron for Doing Business in Burma
A shareowner resolution co-filed by Azzad Asset Management requests that Chevron cease doing business with the government of Burma until state-sanctioned violence against the Rohingya minority is ended.
NEWS STORY:
SUSTAINABLE INVESTMENT | SHAREOWNER ACTION | FINANCIAL INDUSTRY
Impact Measurement Can Drive Business Value
The Global Impact Investing Network surveys impact investors and learns that in addition to environmental and social benefits, measuring their investments can improve financial performance.
NEWS STORY:
SOCIAL ISSUES | HUMAN RIGHTS | SUPPLY CHAINS
Human Rights Most Important Issue in Corporate Supply Chains
Ethical Corporation reports on the results of its survey of corporations and other stakeholders, addressing risk and opportunity in corporate supply chains.
NEWS STORY:
CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
Financial Stability Board to Review Governance Principles
The international body, formed to promote financial stability following the global financial crisis, seeks to determine how its member jurisdictions have implemented the G20/OECD Principles of Corporate Governance.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CORPORATE REPORTING
SEC Urged to Strengthen ESG Reporting Requirements
Ceres organizes an investor coalition calling for regulations to strengthen corporate climate reporting, while US SIF and ICCR issue a joint press release urging mandatory sustainability reporting.
NEWS STORY:
SUSTAINABLE INVESTMENT | SHAREOWNER ACTION
After the Conventions
While it seems implausible that investors concerned with environmental and social justice will vote for Donald Trump, some of the positions take by Hillary Clinton during her years of public service merit scrutiny.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | FINANCIAL INDUSTRY
Major Pension Funds Still Funding Deforestation
Friends of the Earth and As You Sow create a free online database to help educate individual investors about which retirement funds continue to invest in companies engaged in deforestation for palm oil production.
NEWS STORY:
SOCIAL ISSUES | HUMAN RIGHTS | FINANCIAL INDUSTRY
Banking Lags on Human Rights
A report by the NGO BankTrack reveals that most major global banks are failing to implement the UN Guiding Principles on Business and Human Rights in their financing.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | FINANCIAL INDUSTRY
Are Big Banks Ignoring Paris Climate Agreement?
The seventh edition of the Fossil Fuel Finance Report Card reveals that while some progress has been made in exiting the financing of coal mining, global financial institutions are lagging badly in other extreme fossil fuels and human rights.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES | HUMAN RIGHTS
$5 Trillion Investor Coalition Supports Human Rights Benchmark
The coalition, coordinated by Boston Common Asset Management, hopes that the Corporate Human Rights Benchmark will help improve corporate human rights disclosures and aid investors in their engagement with companies.
NEWS STORY:
SHAREOWNER ACTION | HUMAN RIGHTS | FOOD AND BEVERAGE INDUSTRY
Pepsi Challenged on Palm Oil Worker Exploitation
A report from three NGOs reveals that violations of workers' rights on the palm oil plantations of PepsiCo's joint venture partner in Indonesia includes child labor.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | MUTUAL FUNDS
BlackRock Shareowners Vote on CEO Pay
The Stephen M. Silberstein Revocable Trust files a shareowner resolution with the mutual funds giant, requesting that its proxy voting practices reflect a link between executive compensation and corporate performance.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | ENERGY INDUSTRIES
SEC Backs Shareowner Challenge of Dominion Nuclear Plant
The utility's effort to exclude the resolution calling for analysis of the financial risks associated with a nuclear reactor which could cost over $19 billion is turned down by the Securities and Exchange Commission.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES | HUMAN RIGHTS
Second Benchmark of Corporate Human Rights Performance Launches
KnowTheChain, founded in 2013 to address California's Supply Chain Transparency Act, will initially benchmark the human rights performance of 20 companies in the information and communications technology industry sector.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | INSTITUTITONAL INVESTORS
Institutional Investors Support Increase in Solar Deployment
The Green Infrastructure Investment Coalition, launched during the COP21 negotiations, now counts over $60 trillion in assets under management supporting a trillion dollar investment in solar.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | ENERGY INDUSTRIES
Despite Climate Commitments, World Bank Still Funding Fossil Fuels
Oil Change International reports that the World Bank Group's investments in fossil fuel exploration actually increased in 2015, to $313 million.
NEWS STORY:
SHAREOWNER ACTION | GLOBAL HEALTH | FOOD INDUSTRY
Investors Challenge Food Companies on Antibiotics
The collaborative investor network Farm Animal Investment Risk & Return writes to ten of the largest restaurant chains, requesting policies addressing overuse of medically necessary antibiotics.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | POLITICAL SPENDING
Walden Updates Shareowner Action on Lobbying
Tim Smith of Walden Asset Management posts update on the 50 shareowner proposal addressing corporate lobbying expenditures filed this proxy season.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Investors Win Battles for Shareowner Votes on Climate at Exxon
Resolutions addressing the moral imperative of limiting climate change and the manner in which the company reports oil reserves replacement will appear on proxy ballot following SEC decision.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES | HUMAN RIGHTS
Corporate Human Rights Benchmark Launched
Members of the Corporate Human Rights Benchmark complete methodology based in part on UN Guiding Principles on Business and Human Rights, and plan to publish the first benchmark of corporate human rights performance in November.
NEWS STORY:
COMMUNITY INVESTMENT | FINANCIAL INDUSTRY
Community Capital Management Publishes Annual Impact Report
In a webinar, Chief Impact Investment Officer David Sand emphasizes the importance the sustainable fixed income firm places on environmental and social impacts.
NEWS STORY:
SHAREOWNER ACTION | INSTITUTIONAL INVESTORS
A Wealth of Insights in the 2016 Proxy Preview
Report authors Heidi Welsh and Michael Passoff detail a total of 314 pending shareowner resolutions, the majority of which target environmental issues and corporate political activities.
NEWS STORY:
SUSTAINABLE INVESTMENT | EMERGING MARKETS
Demand for Impact Capital in Southern Africa Faces Challenges
The Global Impact Investing Network finds ample opportunities for increased sustainable investment in the region, but acknowledges that challenges to development persist.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | INSTITUTIONAL INVESTORS
ICCR Publishes 2016 Proxy Voting Guide
Members of the faith-based investor organization have filed 257 shareowner resolutions thus far this proxy season, with climate change and corporate political expenditures receiving the most attention.
NEWS STORY:
COMMUNITY INVESTMENT | SOCIAL ISSUES
New Revenues Will Pay for Sanders' Economic Plan, Economist Says
Gerald Friedman, staff economist for the Center for Popular Economics, analyzes the Sanders economic platform and concludes that new revenue streams make the ambitious plan feasible.
NEWS STORY:
COMMUNITY INVESTMENT | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Obama to Propose New Fee on Oil
Citing the opportunities in addressing climate change, the President's budget proposal will include a $10 per barrel fee on oil that will be used to build a sustainable national transportation infrastructure.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Exxon Opts for Business as Usual on Climate Change
The oil and gas giant challenges a shareowner resolution from Interfaith Center on Corporate Responsibility members, requesting that it commit to global temperature increase limits.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING
After a Successful Proxy Season, Walden Asset Management Sets Sights on 2016
The sustainable investment firm reports on its shareowner action during the 2015 proxy season, and begins 2016 with resolutions addressing corporate climate change lobbying and emissions reporting.
NEWS STORY:
COMMUNITY INVESTMENT | FINANCIAL INDUSTRY | MUTUAL FUNDS
Community Capital Management a Top Fund Performer in 2015
The fund tracker Morningstar ranks the performance of the firm's fixed income investment product among the top one percent of 309 funds in the intermediate government category.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Ceres Launches Online Database of Corporate SEC Filings on Climate Change
The organization collaborates with CookESG Research to provide an online tool for searching corporate filings with the Securities and Exchange Commission on carbon asset risks and other sustainability factors. Third in a three-part series.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
In Wake of COP21, Shareowners Challenge Corporate Lobbying on Climate
A shareowner initiative coordinated by Walden Asset Management requests that fossil fuel companies disclose lobbying activities and review public policy advocacy on energy policy and climate change. Second in a three-part series.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Sustainable Investors Respond to Climate Pact
With COP21 Climate Conference in Paris ending with agreement intended to keep global temperature increase below two degrees Celsius, investors envision portfolios focused on renewable energy. First in a three-part series.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | MUTUAL FUNDS
Resolution on Climate Change Will Be on Franklin Templeton's Proxy Ballot
A proposal submitted by Zevin Asset Management, requesting that the mutual fund company �assess any incongruities� in its proxy voting practices relating to climate change, is allowed onto proxy ballot by the SEC.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES | HUMAN RIGHTS
Companies Profiting from Mass Incarceration Mapped for Investors
The American Friends Service Committee publishes research on for-profit prison companies and recommends that investors divest their holdings in five.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Scientists Join Call for Exxon Investigation
In the wake of reports detailing the oil giant's duplicity on climate change, the Union of Concerned Scientists join legislators and others in urging a Department of Justice investigation.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | FINANCIAL INDUSTRY
NGOs Urge Green Climate Fund to Deny Accreditation to Scandal-Plagued Banks
HSBC and Cr�dit Agricole finance environmentally destructive projects and rank at the bottom of major banks in implementing the UN Guiding Principles on Business and Human Rights. Second in a two-part series.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
First Investments Approved by Green Climate Fund
Eight climate change mitigation or adaptation projects�three in Africa, three in Asia-Pacific, and two in Latin America�mark the end of the Green Climate Fund's two-year launch period and the beginning of providing financing to developing nations. First in a two-part series.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | FINANCIAL INDUSTRY
Bank Financing of Fossil Fuels Dwarfs that of Renewables
A new study by Fair Finance Guide and BankTrack reveals that since 2009, investment in fossil fuels by 75 of the world's largest financial institutions is more than nine times greater than investment in renewable energy.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | FINANCIAL INDUSTRY
Banks Still Failing to Incorporate Climate Risks in Lending
A year after Boston Common Asset Management organized an investor initiative, major global banks continue to fail to account for greenhouse gas emissions in their lending and underwriting portfolios.
NEWS STORY:
SUSTAINABLE INVESTMENT | FINANCIAL INDUSTRY | INSTITUTIONAL INVESTORS
Labor Department Repeals Controversial Fiduciary Standard
A 2008 ERISA standard that has discouraged pension plan fiduciaries from considering environmental and social factors in investment strategy has finally been repealed.
INTERVIEW:
SUSTAINABLE INVESTMENT | FINANCIAL INDUSTRY
EarthFolio Launches First Robo-Advisor for Sustainable Investors
SocialFunds.com talks with Art Tabuenca, founder of Blue Marble Investments and EarthFolio, about the development of the first online investment platform specifically dedicated to sustainable investing.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Skepticism Greets Oil Industry Statement on Climate Change
Even before member companies of the Oil and Gas Climate initiative issued a statement supporting a climate deal in Paris in December, the Union of Concerned Scientists question the extent of the industry's commitment.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Justice Department Urged to Investigate Exxon
After two reports identify research into global warming by the oil giant as far back as the 1970s, two members of the House of Representatives call on the Justice Department to investigate the corporation for its campaign to deceive the American public about the risks of climate change.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Pope Francis Talks Climate Change in Speech at UN
A global perception of his moral authority may contribute momentum to a meaningful deal at December's climate talks in Paris.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING | HUMAN RIGHTS
Investors Support Human Trafficking Legislation
More than 100 institutional investors call for passage in Congress of The Business Supply Chain Transparency on Trafficking and Slavery Act of 2015.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Investors Call for Support of EPA Methane Regulations
A coalition of investors organized by the Interfaith Center on Corporate Responsibility writes to 32 energy companies, requesting that they support new regulations on methane emissions.
NEWS STORY:
SHAREOWNER ACTION | HUMAN RIGHTS
The Investment Implications of Mass Incarceration
In a three-part series and subsequent conference call, Sonia Kowal of Zevin Asset Management outlines for foundations and other investors the importance of aligning their strategies with their social missions.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Letter to Obama: No Drilling on Public Lands
Hundreds of signatories call on the President to end the policy of leasing federal lands for fossil fuel exploration and extraction.
NEWS STORY:
SHAREOWNER ACTION | HUMAN RIGHTS
Holy Land Principles Calls for Fair Employment in Palestine
Modeled on the MacBride Principles of Northern Ireland, the eight Holy Land Principles call on US companies doing business in Israel and Palestine to practice fair employment.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Investors Call on Corporations to Oppose Chamber's Challenge to Clean Power Plan
Fifty prominent members of the Chamber of Commerce receive letters from investors, requesting that they address contradictions between their public positions on climate change and their funding of the Chamber's opposition to the Clean Power Plan.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
MacArthur Foundation Focuses on Climate Change
The Foundation launches its Climate Solutions initiative with $50 million in grants, to help ensure that the US meets its responsibilities in addressing the crisis of climate change.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Another Major Religion Gets the Implications of Climate Change
Two months after Pope Francis delivers his encyclical on climate change, Islamic Relief hosts a climate change symposium and publishes the Islamic Declaration on Global Climate Change.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | FOOD AND BEVERAGE INDUSTRY
Major Food and Beverage Companies Fail to Manage Water Risks
As water scarcity becomes a major issue for sustainable development, a coalition of investors organized by Ceres calls for better water management and disclosure by 15 major food and beverage corporations.
NEWS STORY:
SUSTAINABLE DEVELOPMENT | ENVIRONMENTAL ISSUES
Drilling in the Arctic, Mining at the Grand Canyon
President Obama's legacy on climate will be compromised by Shell drilling for oil in the Arctic, and the Grand Canyon is under siege from uranium mining and tourism development.
NEWS STORY:
ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
EPA Proposes Methane Cuts for Oil and Gas Sector
The proposed standards, part of the Obama administration's Climate Action Plan, will reduce methane emissions in the oil and gas industry by as much as 45% by 2025.
NEWS STORY:
SUSTAINABLE INVESTMENT | EMERGING MARKETS
Report Details Impact Investment Opportunities in East Africa
The Global Impact Investing Network and Open Capital Advisors publish a country by country analysis of impact investing activity in the region.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | INSTITUTIONAL INVESTORS
Investment Losses from Climate Change to Be in Trillions, Report States
The Economist Intelligence Unit warns that $4.2 trillion in assets could be at risk, with losses exponentially greater for every increase in global temperature.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Sustainable Investors Praise Obama's Clean Power Plan
The Plan, which will reduce carbon emissions from the power sector by 32% below 2005 levels in 2030, is praised by Mindy Lubber of Ceres as a blueprint for the low carbon transition.
NEWS STORY:
SHAREOWNER ACTION | HUMAN RIGHTS
EIRIS Compiles Database of Companies Doing Business in Crimea and Palestine
The EIRIS Foundation releases an online database of companies in Crimea and Palestine, providing for investors and other stakeholders objective and independent research about corporate activity in occupied territories.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING
Rankings of 2014 Corporate Social Responsibility Reports Are Published
Baruch College's Weissman Center for International Business analyzes corporate social responsibility reporting from the largest US and international companies, and publishes an online ranking that allows investors and other stakeholders to review the quality of CSR reports.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING | OIL AND GAS INDUSTRY
Oil Industry Payments to Governments Still Lack Transparency
Five years after passage of Dodd-Frank, a report by Oxfam America finds that payments by the US industry to developing nations lack the transparency to ensure that governments are using them for the benefit of citizens.
NEWS STORY:
SUSTAINABLE INVESTMENT | ENVIRONMENTAL ISSUES | FIXED INCOME
Green Bond Investments Reach $600 Billion
The fourth edition of Bonds and Climate Change, published by the Climate Bonds Initiative, reports that 70% of climate-aligned bonds are invested in low-carbon transport, while another 20% focus on clean energy.
NEWS STORY:
SHAREOWNER ACTION | HUMAN RIGHTS
Corporate Human Rights Benchmark Publishes Draft of Key Performance Indicators
The Benchmark publishes two documents about which it seeks input: a framework for multi-stakeholder consultations, and a draft list of key performance indicators.
NEWS STORY:
ENVIRONMENTAL ISSUES | SOCIAL ISSUES | FOOD INDUSTRY
Consumer Goods Companies Commit to Halving Food Waste
Four hundred corporate members of the Consumer Goods Forum commit to a sustainability program that includes halving food waste within their operations by 2025.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Investors Support White House Plan to Cut Methane Emissions
The Obama Administration proposes to reduce methane emissions from the oil and gas industry by at least 45% by 2025, and investors coordinated by Ceres and Trillium Asset Management issue a statement expressing their support.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES | HUMAN RIGHTS
Investors Tell Corporations to Meet Burma Reporting Requirements
Sustainable investment firms representing more than $40 billion in assets under management write to three corporations doing business in Burma, urging them to comply with the Burma Responsible Investment Reporting Requirements.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CHEMICAL INDUSTRY
Benchmarking Tool for Toxic Chemicals in Consumer Products Launched
The Chemical Footprint Project, backed by investors and corporations representing more than $1 trillion in investing and purchasing power, is the first tool for benchmarking corporate chemical use and management.
NEWS STORY:
SUSTAINABLE DEVELOPMENT | CARBON MANAGEMENT | HUMAN RIGHTS
Laudato Si Makes Waves Throughout Society
Sustainable investors and climate deniers alike weigh in with responses and reactions to Pope Francis's landmark encyclical on climate change. Second in a two-part series.
NEWS STORY:
SUSTAINABLE DEVELOPMENT | CARBON MANAGEMENT | HUMAN RIGHTS
Pope Francis Delivers Encyclical on Climate Change
The Pope makes explicit the connection between climate action, poverty, and morality, and calls for a radical shift away from current failures and toward an �ecological conversion� instead. First in a two-part series.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
And Now for Something Completely Different
The Heartland Institute hosts its annual conference on climate change, at which such scientific luminaries as climate denying Senator James Inhofe of Oklahoma are honored.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | FINANCIAL INDUSTRY
Morgan Stanley Issues $500 Million Green Bond
The investment bank intends to fund a number of wind energy projects in the US.
NEWS STORY:
SHAREOWNER ACTION | HUMAN RIGHTS | EMERGING MARKETS
Two Years After Tragedy, Fund for Rana Plaza Victims Meets Goal
Pressure from members of the Interfaith Center on Corporate Responsibility helps further corporate responsibility in the remediation of human rights violations.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | INFORMATION TECHNOLOGY
Shareowners Target Amazon on Human Rights and Climate
Sustainable shareowners submitted four resolutions addressing environmental, social, and corporate governance issues at this week's annual general meeting, as pressure grows for the company to improve its sustainability performance.
NEWS STORY:
COMMUNITY INVESTMENT | FINANCIAL INDUSTRY
Community Capital Management Expands Green Bond Offerings
The fixed income investment adviser offers opportunities for sustainable investors to meet their community investment mission.
NEWS STORY:
SHAREOWNER ACTION | HUMAN RIGHTS | EMERGING MARKETS
Verite to Assess Trafficking Risks in Sub-Saharan Africa
With economies improving and ample natural resources, the region is at heightened risk for human trafficking violations.
NEWS STORY:
SOCIAL ISSUES | HUMAN RIGHTS | INSTITUTIONAL INVESTORS
Report Assesses Corporate Conflict Minerals Disclosures
The Responsible Sourcing Network analyzes the quality of more that 1,000 conflict minerals disclosures by large cap corporations, and find that many fulfilled only minimal requirements.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Resolutions Request Emissions Reduction Goals by Exxon and Chevron
A process for shareowners to declare their intention to vote in favor of emissions reduction resolutions at the annual meetings of the oil and gas giants does not appear to have led to substantial votes in favor, but signal that investors who choose engagement as a strategy will remain aggressive.
INTERVIEW:
SUSTAINABLE INVESTMENT | FINANCIAL INDUSTRY
Rewriting the Rules of the American Economy
Nobel Economist Joseph Stiglitz and Senator Elizabeth Warren speak at the Roosevelt Institute about the pressing need to rewrite the rules governing the economy in order to lessen inequality. Second of a two-part series.
NEWS STORY:
SUSTAINABLE INVESTMENT | FINANCIAL INDUSTRY
Nobel Laureate Joseph Stiglitz Takes on Income Inequality
�It would be easier, politically, to push for one or two policies on which we have consensus, but that approach would be insufficient to match the severity of the problems posed by rising inequality,� his new report states. First of a two-part series.
INTERVIEW:
SUSTAINABLE INVESTMENT | FINANCIAL INDUSTRY | INSTITUTIONAL INVESTORS
At Yale, John Fullerton Presents on Regenerative Capitalism
Speaking to the generation that will have to reverse the course of multiple crises, the founder of the Capital Institute envisions a holistic organization of social systems to replace the current reductionist and competitive approach. Third of a three-part series.
NEWS STORY:
SUSTAINABLE INVESTMENT | INSTITUTIONAL INVESTORS
Regenerative Capitalism Seeks Radical Overhaul of Financial System
John Fullerton, the founder of the Capital Institute, writes that the transition of an �antisocial� global financial system to one aligned with our understanding that �living systems are both sustainable and regenerative� is underway. But is the evolution decisive enough to solve the crises of our age? Second of a three-part series.
NEWS STORY:
SUSTAINABLE INVESTMENT | INSTITUTIONAL INVESTORS
Is Regenerative Capitalism a Spiritual Quest?
John Fullerton of the Capital Institute authors an admirable paper on what he calls Regenerative Capitalism, but how do we get from the here of exploitation to there? First of a three-part series.
NEWS STORY:
SHAREOWNER ACTION | OIL AND GAS COMPANIES
Carbon Tracker Offers Roadmap for Energy Transition
Asserting that many executives in the oil and gas industry assume a business as usual approach in their planning, the NGO warns that unconventional exploration and price volatility will have negative impacts for investors.
NEWS STORY:
SHAREOWNER ACTION | HUMAN RIGHTS | EMERGING MARKETS
Two Years after Rana Plaza Tragedy, Investors Still Seek Corporate Assurances
A coalition of institutional investors asserts that the systemic changes needed to safeguard garment workers in Bangladesh remain insufficiently financed, even by signatories to the Fire and Safety Accord.
NEWS STORY:
SUSTAINABLE INVESTMENT | INSTITUTIONAL INVESTORS
Forest Conservation Strategy Wins Morgan Stanley Sustainable Investing Challenge
Four students from the Haas School of Business are awarded the $10 thousand grand prize for developing an institutional investment vehicle that will help alleviate drought and reduce forest fire risk.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
$120 Million Green Bond from Nordic Investment Bank
The fixed income issuance, driven by investors incorporating environmental, social, and corporate governance factors, will finance loans to environmental projects in Scandinavia.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING | OIL AND GAS INDUSTRY
Investors Call on SEC to Require Effective Climate Risk Disclosure
In a letter to SEC Chair Mary Jo White, a coalition of investors organized by Ceres offers specific criticisms of disclosures by major oil and gas companies, and argues that climate risk is changing the economics of the industry.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Harvard Students Mount Blockade in Campaign for Divestment
The Divest Harvard demonstrators block access to administrative offices during Harvard Heat Week as analyses of the university's investments find significant levels of greenhouse gas emissions.
NEWS STORY:
SHAREOWNER ACTION | HUMAN RIGHTS | HUMAN TRAFFICKING
Electronics Trade Association Prohibits Payments to Labor Brokers
The amendment to the Electronic Industry Citizenship Coalition's Code of Conduct follows engagement on the issue of payments to labor brokers by members of the Interfaith Center on Corporate Responsibility.
NEWS STORY:
COMMUNITY INVESTMENT | FINANCIAL INDUSTRY
Market for Conservation Investments Expected to Grow Dramatically
A first ever report on the practice of conservation investing, co-authored by The Nature Conservancy, anticipates that private investment will triple by 2018, from $2 billion to nearly $6 billion.
NEWS STORY:
SUSTAINABLE INVESTMENT | MUTUAL FUNDS
No Financial Sacrifice in Sustainable Investing
The Morgan Stanley Institute for Sustainable Investing analyzes thousands of sustainable mutual funds and separately managed accounts, and finds that most meet or exceed the performance of traditional investments.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | ENERGY INDUSTRY
US Coal Crash Structural, not Cyclical, Report States
The Carbon Tracker Initiative's latest report reveals that bankruptcies are rampant in the US coal industry as cheap natural gas and a strengthening renewable market indicate that the decline of coal will be permanent.
NEWS STORY:
SUSTAINABLE INVESTMENT | ENVIRONMENTAL ISSUES
Corporate Sustainability Measures Fail to Address Impacts
The 2015 State of Green Business report, published by GreenBiz with environmental data supplied by Trucost, confirms that corporate sustainability efforts and disclosures are insufficient.
NEWS STORY:
COMMUNITY INVESTMENT | FINANCIAL INDUSTRY
Community Capital Management Outlines Plans for $100 Million in Rural Development Bonds
The Florida based fixed income investment adviser published a report in which it reveals that it plans to invest $100 million in bonds financing rural community development.
NEWS STORY:
SUSTAINABLE INVESTMENT | SHAREOWNER ACTION
Record Breaking Number of Shareowner Resolutions in 2015
The eleventh edition of As You Sow's Proxy Preview identifies 433 shareowner resolutions filed this year, with corporate political activity and the environment accounting for slightly more than half of them.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES | HUMAN RIGHTS
Corporations Improving on LGBT Rights
Evolution in social acceptance of diversity, as well as years of shareowner engagement by Walden Asset Management, leads to many companies adopting sexual orientation and gender identity policies.
NEWS STORY:
SHAREOWNER ACTION | OIL AND GAS COMPANIES
Shareowners Continue Push for Fracking Disclosure
Six companies are recipients of resolutions this proxy season, calling for greater disclosure of environmental and community risks associated with hydraulic fracturing.
NEWS STORY:
COMMUNITY INVESTMENT | FINANCIAL INDUSTRY
Report Analyzes Impact Investing Funds
The Global Impact Investing Network reports on more than 300 impact investment funds that direct investments by foundations and high net worth individuals to social and environmental opportunities in North America and emerging markets.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES | FOOD INDUSTRY
Good News for Shareowner Engagement on Food Issues
Dunkin Brands agrees to remove nanomaterials from powdered sugar, and Dow Chemical commits to increased disclosure on its management of environmental and social impacts associated with an herbicide used with genetically engineered seeds.
NEWS STORY:
SUSTAINABLE INVESTMENT | MUTUAL FUNDS | INDIVIDUAL INVESTORS
Individual Investors Struggle with Sustainability
More than half of individual investors surveyed by Morgan Stanley believe financial returns will be compromised by a sustainable investment strategy, but demand from millennials and women are likely to drive an increase in the strategy.
NEWS STORY:
SUSTAINABLE INVESTMENT | INSTITUTIONAL INVESTORS
Second Global Sustainable Investment Association Review Published
Negative screening persists as the investment strategy most often practiced, but integration of environmental, social, and corporate governance considerations into financial analysis has grown at the fastest rate over the last two years.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING | HUMAN RIGHTS
Investors Back Reporting Framework for Human Rights
The United Nations Guiding Principles Reporting Framework is launched to help corporations report effectively on human rights issues, and gains the support of a $4 trillion coalition of institutional investors organized by Boston Common Asset Management.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | FINANCIAL INDUSTRY
Citi Announces $100 Billion Sustainability Commitment
Having met several targets of a $50 billion goal two years early, the bank now commits twice that amount to activities such as financing large renewable-energy projects and reducing its absolute emissions by 80%.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING | OIL AND GAS INDUSTRY
BP Calls for Price on Carbon
Arguing that emissions are rising significantly more than scientists recommend, the oil and gas company states that a meaningful global price on carbon will incentivize participation in a low-carbon transition.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING | OIL AND GAS INDUSTRY
Shell Demonstrates Tunnel Vision Version of Climate Change
The oil and gas company endorses a shareowner resolution requesting a sustainable approach to stranded assets, but signals that it will resume costly and ineffectual drilling for oil in the Arctic.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | BOARD DIVERSITY
Twenty-Five Resolutions on Board Diversity Filed in 2015
Institutional investors affiliated with the Thirty Percent Coalition step up their shareowner efforts to pressure corporations to elect women to their boards of directors
NEWS STORY:
SOCIAL ISSUES | HUMAN RIGHTS | EXTRACTIVE INDUSTRY
Human Rights Abuses in Burmese Mining Industry
A new report from Amnesty International identifies companies from Canada and China that have profited from serious human rights abuses at the Monywa copper mine complex in Burma.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES | FOOD INDUSTRY
Corporate Responsibility for Farm Animal Welfare Benchmarked
Business Benchmark on Farm Animal Welfare aspires to improve living conditions for animals raised for food by benchmarking corporate performance on farm animal welfare.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES
Corporate Responsibility for Waste Reduction Insufficient
As You Sow and the Natural Resources Defense Council report that the lack of strong recycling policies and insufficient practices by companies are factors in low recycling rates in the United States.
NEWS STORY:
SUSTAINABLE INVESTMENT | SHAREOWNER ACTION
ICCR Publishes 2015 Proxy Resolutions and Voting Guide
Climate change and wealth inequality lead members of the the Interfaith Center on Corporate Responsibility to increase for the third year in a row the number of shareowner resolutions filed. Second of a two-part series.
NEWS STORY:
SUSTAINABLE INVESTMENT | SHAREOWNER ACTION
Journal Devotes Issue to Faith-Based Investors
An issue of Green Money Journal, guest edited by Mark Regier of Everence, explores the history and aspirations of faith-based sustainable investing. First of a two-part series.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | POLITICAL SPENDING
Strong Shareowner Support for Lobbying Disclosure at Monsanto
A resolution filed by As You Sow gains one-quarter of shareowners' votes at biotech company's annual meeting, and a similar resolution is scheduled to be voted on in April at DuPont.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING | OIL AND GAS INDUSTRY
Board of Directors Endorses Climate Change Resolution at Shell
By endorsing a shareowner resolution filed by members of the Aiming for A investor coalition, the oil giant agrees to report on several aspects of climate risk, including portfolio resilience in post-2035 scenarios.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | FOSSIL FUEL INDUSTRY
Investors Urged to Challenge Fossil Fuel Industry Assumptions on Risk
Ceres hosts a press call in which investors express concerns that the oil and gas industry relies on a business as usual scenario in planning capital expenditures.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Climate Resilient Supply Chains Remain a Work in Progress
CDP's new report comparing corporate supply chains by countries finds that the response of US suppliers to climate risk exposure is insufficient, while China and India offer the best financial returns from emissions reduction activities in supply chains.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Social Cost of Carbon to Threaten Global Economy
A report published in the journal Nature Climate Change warns that worsening climate change impacts could lead to dramatic increases in the social cost of carbon unless short-term mitigation measures are taken.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING | OIL AND GAS INDUSTRY
Over 50 Institutional Investors Call for Improved Annual Reporting from BP and Shell
Invigorated shareowner engagement in the UK leads to resolutions requesting that the two companies with the largest carbon footprints in the FTSE 100 report on strategies to address climate change.
NEWS STORY:
SHAREOWNER ACTION | HUMAN RIGHTS
1% to Own More than Half the Wealth by Next Year
A briefing by Oxfam reveals that lobbying on budget and tax issues in the US has contributed to enabling the richest 1% of people in the world to compile 48% of global wealth, a percentage that is likely to exceed 50% by 2016.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | OIL AND GAS INDUSTRY
Sanders to Republicans: Believe in Climate Science?
After assurances by by Republican leader McConnell that all amendments to a bill to approve the Keystone pipeline will be voted on, the Senate votes not to vote on amendment submitted by Senator Sanders of Vermont. Second of a two-part series.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
New Congress Off to Expected Start
The Republican majority votes to roll back key elements of the Dodd-Frank bill, and Bernie Sanders introduces an amendment to force Senators to vote on whether or not they believe the science of climate change. First of a two-part series.
NEWS STORY:
SOCIAL ISSUES | HUMAN RIGHTS | HUMAN TRAFFICKING
Sex Trafficking and Murder in North Dakota Fracking Lands
Forum News Service publishes expose on human trafficking in the Oil Patch in western North Dakota, while the New York Times reports on corruption and murder on Native American reservation there.
NEWS STORY:
SHAREOWNER ACTION | HUMAN RIGHTS | HUMAN TRAFFICKING
January is Human Trafficking Awareness Month
While business increasingly acknowledges its responsibility to help eradicate human trafficking in all its forms, more robust efforts are needed to protect the world's most vulnerable people.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | ENERGY INDUSTRY
Engage or Divest?
Investors know what has to be done to prevent the worst effects of climate change, but many continue to debate whether moving their assets from fossil fuel companies might affect their returns in the short term. Second of a two-part series.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | ENERGY INDUSTRY
The Risk to Investors of Stranded Assets
In a roundtable hosted by Environmental Finance, investors, analysts, and corporate managers convene to discuss the financial risks associated with stranded fossil fuel assets. First of a two-part series.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Vermont a Co-Filer of Resolution Requesting Emissions Reduction Targets from Exxon
The state's Pension Investment Committee joins a coalition coordinated by the Interfaith Center on Corporate Responsibility and Ceres in filing a shareowner resolution calling for greenhouse gas emissions reduction goals.
NEWS STORY:
ENVIRONMENTAL ISSUES | CORPORATE REPORTING | STOCK EXCHANGES
Report Calls for Climate Resilient Stock Exchanges
Arguing that risks associated with climate change are increasingly likely to destroy value, the Climate Disclosure Standards Board calls on stock exchanges to mandate corporate reporting that includes climate risk assessments.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
New Controls for Old Risks at JPMorgan Chase
In response to shareowner pressure, the bank endorses the Shareholder-Director Exchange as a means of improving the quality of engagement between investors and board directors. Second of a two-part series.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
JPMorgan Publishes Governance Report in Return for Resolution Withdrawal
Members of the Interfaith Center on Corporate Responsibility withdraw a key corporate governance resolution after the financial institution agrees to publish a report detailing its efforts at governance reform. First of a two-part series.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | FOSSIL FUEL INDUSTRY
Sustainable Investment Firms Offer Guide to Fossil Fuel Investing
Along with 350.org, Green Century Capital Management and Trillium Asset Management update a guide for investors who want to divest from fossil fuel companies and reallocate their assets to sustainability.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | COAL INDUSTRY | UTILITIES
EPA Announces Regulations for Coal Ash Disposal
But by declining to classify coal ash as hazardous waste, the Agency fails to adequately safeguard human health, the advocacy organization As You Sow states. Second of a two-part series.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | COAL INDUSTRY
Heartening Developments in the War on Coal
The Department of the Interior proposes that coal companies pay royalties on federal leases, and the Environmental Protection Agency announces new regulations for coal ash disposal. First of a two-part series.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES | HUMAN RIGHTS
Corporate Human Rights Benchmark Gains Government Support
The benchmark, which will rank 500 major corporations in four industry sectors on their human rights performance, wins financial support from the UK government. Second of a two-part series.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES | HUMAN RIGHTS | AGRICULTURE
Child Labor in African Cocoa Industry Persists
Poverty among cocoa farmers in West Africa has challenged efforts to eradicate child labor, while initiative to benchmark corporations in the agricultural and other industry sectors gains support. First of a two-part series.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Addressing Climate Change Means Honoring Human Rights
A large coalition of civil society groups called on climate negotiators to factor human rights into agreements, but CARE concludes that the failure of governments to act leaves the world's most vulnerable people at risk.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Energy Companies Fail to Disclose Impacts of Fracking Operations
The third edition of Disclosing the Facts, published by a coalition of sustainable investment organizations, reveals that companies engaged in hydraulic fracturing continue to prioritize empty assurances over meaningful data.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | INSTITUTIONAL INVESTORS | COAL INDUSTRY
Norway's Sovereign Wealth Fund Declines to Divest from Fossil Fuels
Nongovernmental organizations criticize an expert report that recommends active ownership instead of divestment, which was published one week after Norway's largest private pension fund announced a policy of divestment.
NEWS STORY:
ENVIRONMENTAL ISSUES | FINANCIAL INDUSTRY | FIXED INCOME
Green Bonds Growth a Positive Development in 2014
In a year when ExxonMobil rejects stranded assets and half a million march for climate in New York, green bonds offer an increasingly popular fixed-income investment strategy for sustainable investors.
NEWS STORY:
SOCIAL ISSUES | HUMAN RIGHTS | FINANCIAL INDUSTRY
Efforts Underway to Benchmark Companies on Human Rights
A coalition launches project to rank companies on human rights as BankTrack reports that few financial institutions are making progress on the issue.
NEWS STORY:
SUSTAINABLE DEVELOPMENT | EMERGING MARKETS | RENEWABLE ENERGY
Public Works Needed for Low Carbon Transition
A 2013 briefing by academics from the University of Greenwich argues forcefully for the management by the public sector of a transition to renewable energy, and is cited in Naomi Klein's book This Changes Everything.
BOOK REVIEW:
SUSTAINABLE INVESTMENT | ENVIRONMENTAL ISSUES
Book Review: This Changes Everything: Capitalism vs. the Climate, by Naomi Klein
The author and activist argues that global trade policies promoting privatization and government austerity have doomed the climate movement thus far, but insists that there is still time for massive public infrastructure programs to address both climate change and inequality.
NEWS STORY:
SUSTAINABLE INVESTMENT | INSTITUTIONAL INVESTORS
Sustainable Assets Up by 76% Since 2012
The biennial Trends Report by US SIF reveals that consideration of environmental, social, and corporate governance factors by money managers has contributed to sustainable assets in the US that now total $6.57 trillion.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Investors Ratchet Up Engagement Over Stranded Assets
Undeterred by ExxonMobil's plan to burn all fossil fuel reserves already on its books, As You Sow and Arjuna Capital file a shareowner resolution requesting that the company return capital to investors rather than embark on further exploration.
NEWS STORY:
SHAREOWNER ACTION | INSTITUTIONAL INVESTORS
Record High Support for ESG Resolutions by Shareowners in 2014
More resolutions addressing environmental, social, and corporate governance issues were filed by shareowners in 2014 than ever before, and proxy voting results thus far indicate record support for them as well.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES | PHARMACEUTICAL INDUSTRY
Generic Drug Prices and Clinical Trials Come Under Scrutiny
A number of recent new reports call into question some commitments to corporate social responsibility by companies in the pharmaceutical industry. Second of a two-part series.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES | PHARMACEUTICAL INDUSTRY
2014 Access to Medicine Index Published
Sustainable investors note improvements by pharmaceutical companies in areas of access and affordability but call for more rigorous codes of conduct and transparency around when patents will expire. First of a two-part series.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
China Climate Agreement a First for Developing Nations
In agreement with US, China commits to emissions reductions for the first time. But as a Natural Resources Defense Council report points out, the nation will have to make significant strides in reducing emissions from its ports and shipping systems.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Despite Pledges, G20 Subsidies of Fossil Fuel Exploration Continue
Oil Change International co-authors a study which reveals that the Group of 20 governments spend $88 billion a year subsidizing exploration of fossil fuel reserves that cannot be burned if worst effects of climate change are to be averted.
NEWS STORY:
SUSTAINABLE INVESTMENT | INSTITUTIONAL INVESTORS
Eurosif Updates Study of Sustainable Investment in Europe
The sixth study published by the European Sustainable Investment Forum since 2003 details a continuing increase in assets devoted to aligning investments with social and environmental goals, and includes a lengthy analysis of the phenomenon of impact investing.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES
Phase Out Fossil Fuels by 2100, IPCC Warns
The Synthesis Report of the Intergovernmental Panel on Climate Change warns that further delay in aggressive mitigation efforts will substantially increase the risks of severe and irreversible impacts on human life and ecosystems.
NEWS STORY:
COMMUNITY INVESTMENT | ENVIRONMENTAL ISSUES
Extreme Weather and the Need for Resilient Power
Clean Energy Group continues its Resilient Power Project with a report outlining strategies for financing energy generation alternatives that can remain operative during extreme weather events.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | FINANCIAL INDUSTRY
Contrasting Views on the Financing of Coal
Rainforest Action Network congratulates US investment banks for backing away from Australian coal export terminal, while BankTrack reports that $83 billion was provided by banks to finance coal mining and coal power projects.
NEWS STORY:
SOCIAL ISSUES | HUMAN RIGHTS | HUMAN TRAFFICKING
ECPAT-USA Continues Private Sector Engagement
The organization's efforts to eradicate the commercial sexual exploitation of children have succeeded in encouraging more than 35 companies to implement the Tourism Child Protection Code of Conduct.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | FOOD AND BEVERAGE INDUSTRY
Financing Food Justice a Priority for ICCR Members
Members of the Interfaith Center on Corporate Responsibility commemorated the recent World Food Day by calling for sustainable food systems and palm oil sourcing.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | BOARD DIVERSITY
Investor Campaign for Board Diversity Heats Up
Institutional investors representing more than $3 trillion in assets under management join with women's organizations to call for gender diversity on the boards of Russell 1000 companies.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | PERSONAL PRODUCTS INDUSTRY
Procter & Gamble Agrees to 90% Recyclable Packaging by 2020
But the personal products company inserts caveat into agreement by saying that it will either ensure that 90% of its packaging is recyclable or that �that programs are in place to recycle it" by then.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES
BICEP Member Patagonia Launches Vote the Environment Campaign
The apparel company campaigns to overcome voter apathy in the US in order to elect officials who will support replacing fossil fuels with renewable energy.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Fossil Fuel Companies Failing to Integrate Risk
Research by the Carbon Tracker Initiative reveals that while most fossil fuel companies acknowledge climate change as a risk, very few are integrating climate risks into project and capital expenditure assessments.
NEWS STORY:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
Founder of Hope Credit Union Receives 2014 Ned Gramlich Award for Responsible Finance
Bill Bynum, CEO of the Mississippi-based Hope Credit Union, is awarded for his efforts to advance economic opportunity in low-income communities.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES | HUMAN TRAFFICKING
Is Child Labor in Uzbekistan Cotton Fields Decreasing?
As You Sow's Responsible Sourcing Network reports that Tesco, the world's second largest retailer, has signed the Cotton Pledge and will avoid the use of cotton sourced from Uzbekistan until child labor is eliminated.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Investors Call for Oil and Gas Methane Regulation
In a letter to the Environmental Protection Agency, investors with more than $300 billion in assets under management call for regulation of methane emissions from the oil and gas industry.
NEWS STORY:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
Only 10% of Distressed Asset Stabilization Loans Require Neighborhood Stabilization
A report by the Center for American Progress finds some benefits to homeowners in the Federal Housing Agency program, but recommends that many more be included in the Neighborhood Stabilization pool. Second of a two-part series.
NEWS STORY:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
Federal Program Helps Wall Street, not Homeowners
Distressed mortgages insured by the Federal Housing Administration are being sold to the highest bidder without regard to neighborhood stabilization. First of a two-part series.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | ENERGY INDUSTRY
Coal Keeps Getting Riskier for Investors
The Carbon Tracker Initiative projects that as the demand for coal exports slows in China, $112 billion in planned future coal mine expansion and development is at risk of losing money.
NEWS BRIEF:
COMMUNITY INVESTMENT | FOOD INDUSTRY | FIXED INCOME
$50 Million to be Invested in Sustainable Agriculture
Community Capital Management commits to investing $50 million of fixed income investments in sustainable agriculture initiatives.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | INSTITUTIONAL INVESTORS
Institutional Investors Pledge to Disclose Carbon Footprint of Portfolios
Signatories to the Montreal Pledge, launched at last week's UN Climate Summit, will measure and disclose the carbon footprint of their investment portfolios on an annual basis.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | INSTITUTIONAL INVESTORS
Maybe Some Good Things Came out of Climate Summit
Business commitments on deforestation and renewable energy are not enough to overcome government inaction and the resolve of the fossil fuel industry to burn all its assets and explore for more.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | POLITICAL EXPENDITURES
Voluntary Corporate Disclosure of Political Spending Improves
The fourth annual CPA-Zicklin Index, which tracks voluntary disclosures of political spending by major corporations, notes improved transparency in the absence of effective regulation.
NEWS STORY:
SHAREOWNER ACTION | HUMAN RIGHTS
White House Announces Anticorruption Agenda for Business
The Obama administrations says it will develop a National Action Plan �to promote and incentivize responsible business conduct, including with respect to transparency and anticorruption.�
NEWS STORY:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
Three CDFIs receive NEXT Awards for Opportunity Finance
The annual awards, which focused this year on expanding affordable housing, will presented at the annual meeting of the Opportunity Finance Network in October.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES
Civil Action Grows to Unprecedented Heights. So Do Emissions.
Upwards of 400,000 people take to the streets of New York City to demand meaningful action on climate change, and scientists report that greenhouse gas emissions reached record levels in 2013
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | INSTITUTIONAL INVESTORS
NGOs Express Concern that Climate Summit Could be Hijacked
An extensive network of nongovernmental organizations write to the UN Secretary-General arguing that private investment is not a replacement for public funds, while a campaign by the Indigenous Environmental Network warns against influence of corporations in the upcoming Climate Summit. Second in a two-part series.
INTERVIEW:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | INSTITUTIONAL INVESTORS
$24 Trillion Calls for Climate Policy
In advance of next week's climate summit at the United Nations, a group of institutional investment organizations representing 348 investors and $24 trillion under management call for climate policies that encourage clean energy investment. First in a two-part series.
NEWS STORY:
SOCIAL ISSUES | HUMAN RIGHTS | INFORMATION TECHNOLOGY
Widespread Forced Labor in Malaysian Electronics Industry
A study by Verite finds that nearly one-third of foreign migrant workers in the Malaysian electronics industry work under conditions of forced labor.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | EXECUTIVE COMPENSATION
As You Sow Launches Shareowner Initiative on Executive Compensation
With the ratio of CEO to average employee pay at 300:1 and increasing, As You Sow announced an Executive Compensation initiative to encourage shareowners to link executive pay to meaningful performance goals.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
China To Launch National Market for Emissions Trading
The emissions trading scheme, scheduled to launch in 2016, would be the world's largest and is expected to help China reach its goal of reducing emissions by 45% by 2020.
NEWS STORY:
COMMUNITY INVESTMENT | FIXED INCOME
Opportunities for Green Bond Investment Increasing
The investment advisory firm Community Capital Management publishes a white paper describing several green bond opportunities that have become increasingly popular among sustainable fixed income investors.
NEWS STORY:
SUSTAINABLE INVESTMENT | STOCK INDEXES
Bank of America Delisted from Leading Sustainability Index
The bank, which had been listed on the Dow Jones Sustainability Indexes despite its leading role in financing coal projects, is delisted in 2014, but questions remain over some of the Index's industry sector leaders and other constituents.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Carbon Tracker Analysis Refutes Exxon Claims
The analysis reveals that unconventional oil and gas exploration has contributed to ExxonMobil underperforming the S&P 500 by eight percent over five years, and that the company has not adequately stress tested a future low carbon scenario.
NEWS STORY:
SUSTAINABLE INVESTMENT | CORPORATE REPORTING | FINANCIAL INSTITUTIONS
Reporting by Equator Banks Lacks Transparency
An academic paper published by the Center for International Governance Innovation concludes that only five percent of financial institutions reporting to the Equator Principles disclose all the information required of them.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING | POLITICAL EXPENDITURES
Regulate Corporate Political Spending, One Million Say to SEC
At a press conference organized by members of the Corporate Reform Coalition, sustainable investors and other corporate governance advocates call on the Securities and Exchange Commission to mandate political spending disclosure by corporations.
NEWS STORY:
SUSTAINABLE INVESTMENT | COMMUNITY INVESTMENT
Two Sustainable Investment Funds Reach Milestones
Community Capital Management's flagship fixed income fund celebrates its fifteenth anniversary, and the fossil fuel free Green Century Equity Fund reaches $100 million in net assets.
NEWS STORY:
SHAREOWNER ACTION | HUMAN RIGHTS | EMERGING MARKETS
Thai Company Sues Activist for Revealing Human Rights Abuses
Instead of addressing human rights violations in its workplace, Natural Fruit sues British activist Andy Hall for defamation, a charge that could land him in jail for eight years.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | SUPPLY CHAINS
Integrity of UK Supply Chains Threatened by Complacency
The Chartered Institute of Purchasing and Supply finds that only eleven percent of UK-based supply chain professionals say they have visibility throughout their entire corporate supply chains.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Addressing Pollution a Top Priority for Development in China
The China Greentech Report 2014 finds that sustainable development, once considered an optional approach, is now a prerequisite as the world's largest emitter of greenhouse gases struggles with pollution in its cities.
NEWS STORY:
SUSTAINABLE INVESTMENT | EMERGING MARKETS
Instability in Middle East Dampens Investment
A white paper from Business Monitor International analyzes foreign direct investment in the Middle East and North Africa and concludes that political instability has led to declines in several countries.
NEWS STORY:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
California CDFI First Recipient of Guaranteed Treasury Bond
Clearinghouse Community Development Financial Institution will use the $100 million bond to finance community development projects in California and Nevada.
NEWS STORY:
SOCIAL ISSUES | HUMAN RIGHTS
Militarization of American Policing a Nationwide Problem
An ACLU report originally published in June gains especial relevance in the wake of the paramilitary response to civil unrest in Ferguson, Missouri.
NEWS STORY:
SHAREOWNER ACTION | HUMAN RIGHTS | CONSTRUCTION INDUSTRY
Heavy Construction Equipment and the Israeli Occupation
Who Profits, a research organization based in Tel Aviv, issues a report analyzing the role of heavy equipment manufacturers in supporting Israeli occupation of Palestinian territories.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES
Corporate Recycling Loans or Extended Producer Responsibility?
A consortium of major corporations led by Walmart launches the Closed Loop Fund to help fund municipal recycling projects, but critics say EPR will accomplish more.
NEWS STORY:
ENVIRONMENTAL ISSUES | UTILITIES
Distributed Energy Resources Require a New Regulatory Framework
The New England Clean Energy Council calls for modernization of the region's grid to encourage renewables and distributed energy resources.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | FOOD AND BEVERAGE INDUSTRY
ConAgra Joins Movement to Eliminate Deforestation
Green Century Capital Management and the New York State Common Retirement Fund withdraw a shareowner resolution after the packaged food giant agrees to eliminate palm oil suppliers engaged in deforestation from its supply chain.
NEWS BRIEF:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
Wisconsin CDFI Wins 2014 NEXT Seed Capital Award
Impact Seven, a nonprofit community development financial institution, wins the unrestricted $100,000 grant for its program for preserving affordable housing in multifamily rental units in rural Wisconsin.
NEWS STORY:
COMMUNITY INVESTMENT | ENVIRONMENTAL ISSUES
New Jersey Creates Energy Resilience Bank
The state-run bank will use disaster relief funds issued following Superstorm Sandy to help finance energy resilience by increasing the number of distributed energy resources.
NEWS STORY:
SOCIAL ISSUES | INSTITUTIONAL INVESTORS
Online Petition Urges Pope to End Mandate Against US Nuns
Despite the compassionate message of Pope Francis publicized widely by the Vatican, the effort to put Women Religious in their proper place in a patriarchal hierarchy persists.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES | HUMAN RIGHTS | CLOTHING INDUSTRY
Investors Pressure Ralph Lauren on Human Rights
Members of the Interfaith Center on Corporate Responsibility attend annual shareowner meeting of Ralph Lauren to support a resolution filed by the AFL-CIO requesting that the company conduct a human rights risk assessment.
NEWS STORY:
SUSTAINABLE INVESTMENT | CORPORATE REPORTING
Corporate Reporting and Materiality
A report by the Governance & Accountability Institute assesses the materiality of key indicators in reporting to the Global Reporting Initiative by more than 1,000 corporations in 2012.
NEWS STORY:
SOCIAL ISSUES | ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | FINANCIAL INDUSTRY
Investors Call on Banks to Consider Climate Risks
Boston Common Asset Management publishes a report on climate risks in the banking sector and invites investors to sign on to letter to be sent to major banks.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Student Cellist Bases Composition on Climate Data
It's as inevitable as the effects of climate change that artists will engage more deeply with the subject, and a recent chamber music festival in Ottawa, Canada featured five compositions addressing it.
NEWS STORY:
SOCIAL ISSUES | ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Indigenous Rights Help Prevent Deforestation
A report by the World Resources Institute and the Rights and Resources Initiative concludes that autonomous decision-making by native peoples results in improved community benefits and greater carbon storage.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | FOSSIL FUEL INDUSTRIES
Subsidies for Oil and Gas Companies Increase under Obama
A report by Oil Change International estimates that fossil fuel exploration and production subsidies have increased by 45% since President Obama took office in 2009, as his repeated efforts to lower them have been stymied in Congress.
NEWS STORY:
SUSTAINABLE INVESTMENT | EMERGING MARKETS | STOCK EXCHANGES
Colombian Securities Exchange Joins Sustainable Stock Exchanges Initiative
The stock exchange becomes the second in Latin America to join the United Nations' initiative, and commissions a report from Sustainalytics on the state of sustainable investment in the region.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Climate Change and Pollution Threaten Global Food Supply
A study by Massachusetts Institute of Technology concludes that reductions in crop yields due to climate change can be offset somewhat by stronger ozone pollution controls.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | FOOD AND BEVERAGE INDUSTRY
General Mills to Report on Supply Chain Emissions
The company agrees to report on and reduce greenhouse gas emissions in its supply chain, joins Business for Innovative Climate & Energy Policy, and becomes a signatory to the Climate Declaration.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | UTILITIES
Electric Utilities Ranked on Renewables and Energy Efficiency
A report from Ceres and Clean Edge benchmarks the nation�s largest electric utilities on renewable energy sales, and cumulative and incremental energy efficiency savings.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | SOCIAL ISSUES
Resolutions Target GMO Labeling and Extended Producer Responsibility at Safeway
The annual general meeting of the supermarket chain was dominated by merger talks, but health and environmental resolutions filed by Green Century and As You Sow were considered as well.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
World Bank Calls for Price on Carbon
Stating that the debate over pricing carbon has shifted from whether to how, the World Bank invites stakeholders to become signatories to a statement calling on governments to take action.
NEWS STORY:
SUSTAINABLE INVESTMENT | CORPORATE REPORTING
Professional Institute for Sustainability Practitioners Launched in UK
Members of the UK-based Corporate Responsibility Group launch the Institute of Corporate Responsibility and Sustainability, a professional body for sustainability practitioners.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | MINING INDUSTRY
EPA Limits on Alaskan Pebble Mine Likely to Prevent Construction
The Agency's proposal states that if constructed the mine would lead to unprecedented losses in streams and wetlands, and cause streamflow alterations, threatening one of the world's largest salmon fisheries.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | FOOD & BEVERAGE INDUSTRY
Investors Applaud Palm Oil Sourcing Policy Announced by Smucker's
Clean Yield Asset Management and Green Century Capital Management withdraw shareowner resolution after company commits to environmental protection by sourcing only deforestation-free palm oil.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES
Ways to Assess Corporate Action on Climate Change
The Carbon Tracker 200 list provides information on the unsustainable practices of the world's largest fossil fuel companies, and Ceres collaborates on a searchable database of climate change disclosures by US companies listed on the Russell 3000 index.
INTERVIEW:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Unitarians Craft Divestment Policy that Provides for Continued Engagement
SocialFunds.com talks with Simon Billenness of the Unitarian Universalist Association about the year-long process to develop a policy of divestment from fossil fuel companies while retaining shareowner engagement.
NEWS STORY:
SHAREOWNER ACTION | HUMAN RIGHTS
UN Contemplates Rules Governing Transnational Corporations and Human Rights
A resolution adopted by the United Nations' Human Rights Council, seeking to establish an international human rights law governing transnational corporations, is opposed by the United States and most European Union nations.
NEWS BRIEF:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
Finalists for Annual CDFI Awards Announced
Opportunity Finance Network announces that four community development financial institutions are finalists for $8.25 million in awards provided annually for safe and affordable housing in low-income communities.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Carbon Tracker Responds to Shell on Stranded Assets
The Carbon Tracker Initiative, whose 2011 report on stranded fossil fuel assets helped launch the fossil fuel divestment movement, joins with Energy Transition Advisors to argue that Shell's statement on stranded assets underestimates the magnitude of risk to investors.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES
World Leaders Urged to Act Decisively on Climate Change
In a message to world leaders, signatories to a letter call for decisive action on climate change in order to keep global temperature increases within two degrees Celsius limit.
NEWS STORY:
SUSTAINABLE DEVELOPMENT | COMMUNITY INVESTMENT
Privatization Harms Public Services
A working paper published by the UK-based New Economics Foundation calls for a model of co-production of social services, in which front-line service providers and service recipients collaborate.
NEWS STORY:
CORPORATE GOVERNANCE | INSTITUTIONAL INVESTORS
UK Clarifies Long Term Fiduciary Duty
A report issued by the UK Law Commission determines that it is the duty of pension fund fiduciaries to consider environmental, social, and corporate governance factors when they could impact long-term investment.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Vermont Produces First State Level Climate Assessment in US
The Vermont Climate Assessment partners with the recently published National Climate Assessment of the US Global Change Research to provide region-specific data on the impacts of climate change.
NEWS STORY:
SUSTAINABLE INVESTMENT | FINANCIAL INDUSTRY
Partnerships Between Government and Private Sector Needed to Bring Impact Investing to Scale
Citing the Community Reinvestment Act as an example of effective federal support, a report from the US National Advisory Board calls for additional government action to help maximize the impact of community development initiatives.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | OIL AND GAS INDUSTRY
Step Back from New Oil Sands Projects, Scientists Tell North American Leaders
Citing approval of pipelines and other oil sands projects as symptoms of a broken policy process, a group of scientists call for no new oil sands project approvals unless they are consistent with effective climate change policies.
NEWS STORY:
SUSTAINABLE INVESTMENT | ENVIRONMENTAL ISSUES
High Level Report Outlines Risks from Climate Change in US
The Risky Business Project releases a report warning of severe economic disruptions from rising sea levels and extreme heat.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | ENERGY INDUSTRY
Supreme Court Upholds EPA Authority to Regulate Greenhouse Gas Emissions
The Court's ruling allows the Environmental Protection Agency to regulate greenhouse gas (GHG) emissions from sources whose conventional pollutants are already being regulated.
NEWS BRIEF:
SHAREOWNER ACTION | SOCIAL ISSUES | HUMAN RIGHTS
Human Rights Groups Commend State Department for Action on Thailand
The 2014 Trafficking in Persons Report downgrades the status of Thailand due to widespread human trafficking and official corruption in the country's lucrative seafood industry.
NEWS BRIEF:
SHAREOWNER ACTION | SOCIAL ISSUES | HUMAN RIGHTS
Investors Tell FedEx to Distance Itself from Racist NFL Team Name
FedEx has naming rights to Washington DC stadium that is home to the Washington Redskins, the professional football team under increasing pressure to change its racist name.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES | HUMAN RIGHTS
Pope Francis Calls for Sustainable Investment to Help the Poor
At a symposium on impact investing held this week at the Vatican, the Pope calls on the capital markets to serve the good of humanity.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | INSTITUTIONAL INVESTORS
PRI Assets Top $45 Trillion
During the past year the Principles of Responsible Investment added more than 200 new signatories, bringing the current number of signatories to 1,265.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Shareowner Action on Fracking Disclosure Proves Strength of Proxy
The Investor Environmental Health Network reports that of six shareowner resolutions filed this year with companies engaged in hydraulic fracturing, four were withdrawn and two received substantial support.
NEWS STORY:
SUSTAINABLE INVESTMENT | CORPORATE REPORTING
Panelists at Slow Living Summit Discuss Context Based Sustainability Metrics
Corporate sustainability architect Bill Baue leads a conversation about the importance of placing sustainability reporting in the context of planetary boundaries. Second of a two-part series.
NEWS STORY:
SUSTAINABLE INVESTMENT | CORPORATE GOVERNANCE
Seminar Considers Impacts when Small Socially Responsible Companies are Acquired
At the annual Slow Living Summit in Brattleboro, VT, managers from Ben & Jerry's and New Chapter discuss how their firms maintained social mission after being acquired by multinationals. First of a two-part series.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE REPORTING | HUMAN RIGHTS
House Bill Calls for Corporate Disclosure of Human Trafficking Risks
Investors issue statement in support of bill introduced this week that will require companies to disclose policies addressing human trafficking in their supply chains.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE
Shareowner Rights Under Attack
Abetted by comments by an SEC commissioner, the US Chamber of Commerce petitions to keep shareowner resolutions from returning to proxy ballots.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | COAL INDUSTRY
Coal Fired Power Consumption Slowing in China
Carbon Tracker and the Association for Sustainable and Responsible Investment in Asia report that investors need to consider the implications of significant stranded assets in China's coal sector.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE REPORTING
Sustainability Reporting by Large Corporations Up Sharply
In its updated analysis of sustainability reporting by S&P 500 companies, the Governance & Accountability Institute finds that almost three-quarters now do so.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | ENERGY INDUSTRY
EPA Announces Historic Emissions Limits for Power Plants
More than 40% of the nation's greenhouse gas emissions come from power plants, and when enacted the new regulations will reduce emissions from existing power plants by 30% nationwide below 2005 levels.
NEWS BRIEF:
SUSTAINABLE DEVELOPMENT | SUSTAINABLE INVESTMENT
Four Sustainability Professionals Inducted into ISSP Hall of Fame
Launched in 2011, the International Society of Sustainability Professionals Hall of Fame seeks to acknowledge individual contributions to the advance of sustainability.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CORPORATE GOVERNANCE
Activist Shareowners Make Their Way to Texas to Confront Chevron
Simon Billenness of the Unitarian Universalist Association talks with SocialFunds.com about Chevron's ongoing legal quagmire in Ecuador and his efforts to have the oil and gas company appoint an independent Chair.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Oil Change International Exposes Growing Crude by Rail
A new report estimates that an average of 135 trains with 100 cars apiece are moving crude oil via the rail system of North America, and at any given time nine million barrels are being transported by rail.
NEWS STORY:
SHAREOWNER ACTION | INSTITUTIONAL INVESTORS
No Surprise: Climate Change the Biggest Issue for Sustainable Investors
A survey of eleven sustainable investors by Monitor Global Outlook reveals that while more environmental and social shareowner resolutions have been filed in 2014 than ever before, the number of withdrawals has set a record too.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CORPORATE REPORTING
One Blog and Two News Briefs
The author reflects upon personal responses to climate change, Trillium Asset Management withdraws resolution at Lowe's, and Sustainalytics research is now on Bloomberg.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | ENERGY INDUSTRY
Record Support for Stranded Assets Resolution at Anadarko Petroleum
Resolution filed by As You Sow requesting that oil and gas company report on risk of stranded assets gains support of 30% of shareowners, the highest percentage for such a resolution thus far.
BOOK REVIEW:
BOOK REVIEW | ENVIRONMENTAL ISSUES
Book Review: The Sixth Extinction: an Unnatural History, by Elizabeth Kolbert
The New Yorker staff writer travels through space and time to assert that a mass extinction is underway, this time at the hands of human agency. Second in a two-part series.
NEWS STORY:
ENVIRONMENTAL ISSUES | SOCIAL ISSUES
Uncivilization: an Artistic Manifesto for an Age of Ecocide
The Dark Mountain Project contends that the human race has already destroyed the possibility of its survival and advocates for cultural responses that reflect reality. First of a two-part series.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Investment Professionals Taking Stranded Assets Seriously
In advance of the 25th annual SRI Conference on Sustainable, Responsible, Impact Investing, First Affirmative Financial Network surveys sustainable investment professionals and finds that a majority believes now is the time to assess investments in fossil fuel companies.
NEWS BRIEF:
SHAREOWNER ACTION | HUMAN RIGHTS | HUMAN TRAFFICKING
US House Passes Human Trafficking Bills
Strong bipartisan support for a package of bills that encourage states to provide social services to victims of forced prostitution and impose additional penalties for those engaged in human trafficking.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE REPORTING | HUMAN RIGHTS
EIRIS Launches Investment Watch for Burma
After President Obama issues an Executive Order continuing the national emergency in Burma, the EIRIS Conflict Risk Network establishes an Investment Watch for Burma to help investors determine the reporting transparency of companies doing business there.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Shell Joins Exxon in Denying Assets are Stranded
A long-winded response by the oil company to shareowner concerns boils down to the assertion that it plans to burn all the reserves on its books regardless of the impact on climate change.
NEWS STORY:
ENVIRONMENTAL ISSUES | SOCIAL ISSUES
Film Review: The Wisdom to Survive
Filmmakers John Ankele and Anne Macksoud document the destruction of nature from the developed nations' addiction to fossil fuels, but argue that there is still time to remake civilization in a just and sustainable way. Second of a two-part series.
NEWS STORY:
ENVIRONMENTAL ISSUES | SOCIAL ISSUES
Is it Time to Consider Planetary Hospice?
Environmental activist Zhiwa Woodbury concludes that climate change will lead to the extinction of life on our planet, and recommends hospice for the entire human race based on the stages of grief of Kubler-Ross. First of a two-part series.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | PERSONAL PRODUCTS INDUSTRY
Colgate-Palmolive Commits to Emissions Reductions
Shareowner engagement by Walden Asset Management leads to agreement by the company to reduce greenhouse gas emissions in line with standards recommended by the Intergovernmental Panel on Climate Change.
NEWS BRIEF:
SHAREOWNER ACTION | SOCIAL ISSUES | PUBLIC HEALTH
Shareowners Want Dunkin' Brands to Report on Nanomaterials
A resolution from As You Sow, requesting that the company report on use of nanomaterials in its doughnuts, is supported by 23% of shareowners.
NEWS STORY:
SHAREOWNER ACTION | HUMAN RIGHTS
Kidnapping of Nigerian Girls Reminder of Persistence of Slavery
Members of the Interfaith Center on Corporate Responsibility call the kidnapping a tragic reminder of the prevalence of human trafficking.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | INSTITUTIONAL INVESTORS
Sustainable Investment Increasing in Austria, Germany, and Switzerland
Forum Nachhaltige Geldanlagen, a Eurosif member and the sustainable investment industry association for the three countries, reports that overall market now exceeds $184 billion.
NEWS BRIEF:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
Community Development Financial Institutions Improve Financial Stability
The annual report on the state of the CDFI industry by the National Community Investment Fund anticipates an evolution that will improve revenues and fulfill mission of community development.
NEWS STORY:
SUSTAINABLE INVESTMENT | ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Carbon Tracker Publishes First in Series on Stranded Assets
The first of three reports analyzing the investment risks associated with stranded fossil fuel assets coincides with Stanford University's divestment of coal stocks from its $19 billion endowment.
NEWS STORY:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
Opportunity Finance Network Reports on Starbucks Partnership
The national network of community development financial institutions joined with Starbucks in 2011 to form Create Jobs For USA, an initiative to fund sustainable jobs in underserved communities.
NEWS STORY:
SUSTAINABLE INVESTMENT | ENVIRONMENTAL ISSUES
Third National Climate Assessment Published
In its new report, the US Global Change Research Program asserts that the effects of climate change have already become a present day concern, and announces the launch of a website to help Americans receive reliable scientific information.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | FOOD AND BEVERAGE INDUSTRY
Public Interest Groups Launch Campaign Targeting Non-Recyclable Packaging
The Make It, Take It Campaign calls on Kraft Foods to take responsibility for its packaging waste and package Capri Sun and other products in reusable, recyclable, or compostable packaging.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE
Quality of Corporate Engagement Improved Since Dodd-Frank
A new report from the Investor Responsibility Research Center Institute and Institutional Shareholder Services concludes that both investors and companies are more satisfied with engagement since say on pay rules were issued.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE
Corporations Lagging in Sustainability Efforts
In a follow-up to their 2012 report on corporate sustainability, Ceres and Sustainalytics reiterate that major US corporations are failing to keep pace with urgent environmental and social challenges.
NEWS STORY:
SUSTAINABLE INVESTMENT | ENVIRONMENTAL ISSUES
Sister Patricia Daly Honored for Shareowner Advocacy
The Executive Director of the Tri-State Coalition for Responsible Investment and longtime member of the Interfaith Center on Corporate Responsibility receives the Joan Bavaria award from Ceres for advocacy on behalf of environmental justice.
NEWS STORY:
ENVIRONMENTAL ISSUES | ENERGY INDUSTRY
Supreme Court Upholds EPA Ruling on Coal Pollution
The 6-2 decision upholds the Agency's authority to regulate pollution from coal-fired power plants, and is the second court decision in two weeks that supports environmental regulations.
NEWS STORY:
SUSTAINABLE INVESTMENT | ENVIRONMENTAL ISSUES | STOCK INDEXES
NRDC Teams with Investment Firms to Offer Fossil Fossil Fuel Free Equity Index
The Natural Resources Defense Council joins BlackRock and FTSE Group to launch a equity global index series that excludes companies engaged in exploration, ownership, or extraction of carbon-based fossil fuel reserves.
NEWS STORY:
SHAREOWNER ACTION | HUMAN RIGHTS | APPAREL INDUSTRY
Investors Mark Anniversary of Rana Plaza Tragedy
A coalition of institutional investors organized by the Interfaith Center on Corporate Responsibility issue a statement calling on apparel brands and retailers to ensure that the human rights of workers in supply chains are being honored.
NEWS BRIEF:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
Automated Financial Reporting for CDFIs Launched
The CDFI Assessment and Ratings System developed by CARS allows community development financial institutions to share quarterly performance data with their investors.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | INFORMATION TECHNOLOGY
Google Facing Several Resolutions on Corporate Governance
The tech giant's 2014 proxy statement reads like a compendium of corporate governance issues. Second of a two-part series.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | POLITICAL SPENDING
Resolution Calls for Transparency in Lobbying Expenditures by Google
Filed by Walden Asset Management and other sustainable investment organizations, the resolution documents a 250% increase in lobbying expenditures by Google in the last five years. Part one of a two-part series.
NEWS STORY:
SUSTAINABLE INVESTMENT | ENVIRONMENTAL ISSUES | FINANCIAL INDUSTRY
ICCR Writes to Bank of America on Financing Fossil Fuels
A letter signed by 50 institutional investors accompanies a shareowner resolution filed by an ICCR member, requesting that Bank of America report on its financing of greenhouse gas emissions.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Canadian Investors Issue Climate Change Policy Statement
The Responsible Investment Association calls on the federal and provincial governments of Canada to develop policies that will encourage a transition to a low-carbon economy.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | ENVIRONMENTAL ISSUES | FIXED INCOME
Clean Energy Bond Act Introduced in Congress
The Clean Energy Victory Bonds Act of 2014 is modeled after the Treasury Bonds issued in the 1940s to support the World War II effort.
NEWS STORY:
SUSTAINABLE INVESTMENT | COLLEGE AND UNIVERSITY ENDOWMENTS
Harvard Joins Principles for Responsible Investment
Harvard's endowment is the first in the United States to join the global network of sustainable investors; the university also announces it will report its greenhouse gas emissions to the CDP.
NEWS STORY:
SHAREOWNER ACTION | POLITICAL SPENDING
Sustainable Investors Mostly Quiet on McCutcheon vs. FEC
The most recent evisceration of campaign finance laws may not be the Supreme Court's last, emphasizing the critical need for regulation and redoubled efforts on political spending disclosure.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | CORPORATE GOVERNANCE
First Ranking of Corporate Sustainability in Colombia Published
The ranking of the 20 most sustainable companies operating in Colombia uses research framework and methodology developed by Sustainalytics.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE REPORTING
Investors Call for Sustainability Reporting by Small-Cap Companies
A shareowner resolution from Walden Asset Management, part of a sustainable investor initiative, wins significant support at the annual general meeting of CLARCOR.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | ENERGY INDUSTRY
Dare We Celebrate Exxon Agreeing to Report on Fracking Risks?
As You Sow and the New York City Pension Funds withdraw resolution when Exxon agrees to increased transparency days after the oil and gas company issues disappointing report on stranded assets.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | STOCK EXCHANGES
Stock Exchanges to Study Sustainability Reporting Standards
The World Federation of Exchanges forms a sustainability working group to study environmental, social, and corporate governance (ESG) disclosure, and a coalition led by Ceres announces an initiative to engage global stock exchanges on the issue.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Disclosures by Fracking Companies Still Poor
Research commissioned by the Principles for Responsible Investment reveals that oil and gas companies engaged in hydraulic fracturing fail to adequately disclose risks associated with the practice.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | ENERGY INDUSTRY
Another Win for Climate Change Mitigation
As You Sow withdraws shareowner resolution at Southern Company after the utility agrees to report on integrating renewable energy into its business operations.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | SHAREOWNER ACTION
News Briefs for March 26th
Trillium Asset Management withdraws shareowner proposal on political spending at Hess, and Calvert Investments wins Lipper Fund Award.
NEWS STORY:
SUSTAINABLE INVESTMENT | ENVIRONMENTAL ISSUES
Literature and Climate Change
In which this writer turns to a writer of creative literature for inspiration and understanding in considering the climate crisis.
NEWS STORY:
SOCIAL ISSUES | CORPORATE REPORTING | EXTRACTIVE INDUSTRIES
Tullow Oil Expands Disclosure of Payments to Governments
The voluntary disclosure of payments on a project level is the first by an oil and gas company, and comes while the American Petroleum Institute seeks to weaken a proposed Securities and Exchange Commission rule on payments to governments.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE
Investors Protest Corporate Lawsuits Against Shareowners
A coalition of investors led by NorthStar Asset Management writes to four companies that have sought to bypass regulatory system by bringing lawsuits against shareowners for resolutions they filed.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
ExxonMobil to Report on Stranded Assets
A shareowner resolution is withdrawn by As You Sow after Exxon agrees to becomes the first oil and gas company to report on the impacts of unburnable carbon assets on its business model.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | FINANCIAL INDUSTRY
News Briefs for March 20th
Green Century Capital Management releases an animated fossil fuel free investing video, and Community Capital Management announces the launch of the CCM Alternative Income Fund.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE
Trillium Withdraws Diversity Proposal at Wabtec
The resolution, which called for a policy emphasizing board diversity at the locomotive and train car components manufacturer, is one of a number withdrawn by Trillium this proxy season.
NEWS BRIEF:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
CDFIs Pledge $1 Billion to Support My Brother's Keeper
Opportunity Finance Network launches campaign for $1 billion annually in new financing by community development financial institutions, to benefit low-income, low-wealth, and other disadvantaged communities across America.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE
Massachusetts Court Upholds Corporate Governance Proposal
Denied a no-action letter by the SEC on a shareowner resolution calling for an independent chair, EMC turns to the courts instead and fails.
BOOK REVIEW:
BOOK REVIEW | SUSTAINABLE INVESTMENT
Book Review: Green Investing: More Than Being Socially Responsible, by J. Patrick Costello
The author, a Certified Financial Planner, provides both financial justification for the practice of sustainable investment as well as a primer on investing for the typical investor.
NEWS BRIEF:
SHAREOWNER ACTION | SOCIAL ISSUES | PUBLIC HEALTH
Profit or Health in the Trans-Pacific Partnership?
Members of the Interfaith Center on Corporate Responsibility warn US trade negotiator against expanding tobacco sales and increasing intellectual property rights for medicine.
NEWS STORY:
ENVIRONMENTAL ISSUES | ENERGY INDUSTRY
European Energy Companies Failing to Adapt
A report from Greenpeace cites analysts who find that to maintain even diminished profits, the largest European Union utilities will have to shut down most of the fossil fuel capacity added in the last ten years.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | TRANSPORTATION INDUSTRY
EPA Finalizes Emissions Rules for Cars
The Agency's final standard will reduce the sulfur content of gasoline beginning in 2017, as well as lead to significant reductions in pollutants such as ozone, particulate matter, and air toxics.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE REPORTING | POLITICAL SPENDING
More than 120 Companies Adopt Political Disclosure
The Center for Political Accountability announces that 122 companies have adopted political transparency and accountability as a result of agreements with the organization and its investor partners.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Investors Warned Again of Risks in Arctic Drilling
A coalition of nonprofit organizations releases a report for institutional investors detailing the considerable financial, environmental, and social risks associated with Shell's plans to drill for oil in the waters of the US Arctic.
NEWS STORY:
ENVIRONMENTAL ISSUES | FINANCIAL INDUSTRY | FIXED INCOME
Is 2014 the Year for Green Bonds?
As You Sow hosts a webinar exploring the role of green bonds in the transition to a low-carbon economy.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | POLITICAL SPENDING
US SIF Publishes Political Spending Guide for Investors
Confronting Corporate Money in Politics focuses on using the proxy ballot to advocate for transparency in corporate political spending and lobbying expenditures.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
JPMorgan Agrees to Report on Governance and Risk Management
After engagement with the bank, members of the Interfaith Center on Corporate Responsibility withdraw resolutions addressing risk mitigation efforts and separating the positions of Board Chair and CEO.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | POLITICAL SPENDING
Shareowners Continue Efforts to Limit Corporate Political Spending
Sixty institutional investors file 48 shareowner resolutions calling on corporations to report on federal and state lobbying expenditures, including payments to trade associations.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | FOOD INDUSTRY
Kellogg's Commits to Deforestation-Free Palm Oil
Green Century Capital Management withdraws shareowner resolution after the food processing company agrees to source only deforestation-free palm oil by next year.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES
Divest or Engage Meets the Capital Markets
Investors aligned with Ceres with Ceres file ten resolutions addressing stranded fossil fuel assets, and Green Century Capital Management announces its Equity Fund will become fossil free.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Kerry Denounces Complacency on Climate Change Action
In a speech in Indonesia, the Secretary of State describes that country as one of the most vulnerable to the effects of climate change, and calls for a global commitment to reducing greenhouse gases.
NEWS STORY:
SUSTAINABLE INVESTMENT | SHAREOWNER ACTION | INSTITUTIONAL INVESTORS
ICCR Publishes 2014 Proxy Resolutions and Voting Guide
The number of shareowner resolutions addressing environmental health filed by members of the Interfaith Center on Corporate Responsibility in 2014 increases sharply over 2013, reflecting the urgency of action on climate change.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CORPORATE REPORTING
SEC Action on Corporate Climate Disclosure Inadequate
Four years after the Commission issued interpretive guidance on climate change disclosure, the quality of corporate reporting remains low, according to a report from Ceres.
NEWS BRIEF:
COMMUNITY INVESTMENT | CORPORATE REPORTING | FINANCIAL INDUSTRY
Community Capital Management Publishes First Impact Report
The Florida-based fixed-income investment adviser reports on its use of proceeds and the social programs financed by its investment activities.
BOOK REVIEW:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | INSTITUTIONAL INVESTORS
Book Review: Trusting Harvard: The Cost of Unprincipled Investing, by Robert A.G. Monks and Marcy Murninghan
Two notable advocates for the practice of sustainable investment�both graduates of Harvard themselves�address the discrepancies between the university's academic mission and the investment policies of its endowment.
NEWS BRIEF:
SHAREOWNER ACTION | SOCIAL ISSUES | HUMAN RIGHTS | FOOD INDUSTRY
Hershey Exceeds Target for Sourcing Sustainable Cocoa
Shareowner engagement by members of the Interfaith Center for Corporate Responsibility helps the Hershey Company exceed its commitment to ensuring that 10% of its cocoa supply would be certified by 2013.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Investors Renew Efforts to Improve Fracking Accountability
Ceres publishes a report on hydraulic fracturing in water-stressed regions, and five shareowner resolutions filed this year address water and other risks associated with fracking.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE REPORTING
Investors Push Emerson Electric on Sustainability Reporting and Relationship with ALEC
For the fifth consecutive year, Walden Asset Management requests that company report on sustainability while two more shareowner resolutions request transparency on political spending and lobbying.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES
Environmentalists Wait for Obama Decision on Keystone Pipeline
Following a State of the Union Address in which natural gas exploration was cited as a response to climate change, the State Department publishes its assessment of the controversial Keystone XL Pipeline.
NEWS STORY:
ENVIRONMENTAL ISSUES | SOCIAL ISSUES
Climate Change Takes the Stage at Davos
A high-profile panel convenes at the annual World Economic Forum meeting to discuss the negotiation of an international climate change treaty and how to end extreme poverty.
NEWS STORY:
SUSTAINABLE INVESTMENT | INSTITUTIONAL INVESTORS
Sustainable Investment Helps Support Missions of Foundations
Finding that relatively few foundations manage their assets according to sustainable investment strategies, the US SIF Foundation publishes a guide to help them do so.
NEWS STORY:
SHAREOWNER ACTION | FINANCIAL INDUSTRY
ICCR Members Challenge Banks on Ethics and Emissions
A perusal of shareowner resolutions filed by members thus far reveals requests that banks report on emissions in their lending portfolios and on how to ensure an end to unethical business activities.
NEWS BRIEF:
SHAREOWNER ACTION | SOCIAL ISSUES | FOOD INDUSTRY
No More Gestation Crates, Tyson Foods Tells Farmers
Green Century Capital Management and co-filers withdraw shareowner resolution after world's largest meat processor asks contract farmers to improve housing standards for pigs.
NEWS STORY:
ENVIRONMENTAL ISSUES | INSTITUTIONAL INVESTORS
How to Fund Clean Energy Investment
A report released by Ceres at the recent Investor Summit on Climate Risk suggests that the responsibility for scaling up clean energy finance to the necessary level is shared by institutional investors, banks, and policymakers. Third in a three-part series.
NEWS STORY:
ENVIRONMENTAL ISSUES | INSTITUTIONAL INVESTORS
Climate Summit Press Conference Focuses on Policy and Fiduciary Duty
Prominent representatives of government, business, and institutional investment meet with journalists to discuss strategies for increasing climate finance. Second of a three-part series.
NEWS STORY:
ENVIRONMENTAL ISSUES | INSTITUTIONAL INVESTORS
Institutional Investors Meet to Discuss Climate Finance
At a conference hosted by Ceres at the United Nations, 550 institutional investors hear climate scientist Rosina Bierbaum describe the effects of climate change that are already underway. First of a three-part series.
NEWS STORY:
SUSTAINABLE INVESTMENT | ENVIRONMENTAL ISSUES | FINANCIAL INDUSTRY
Banks Announce Support for Green Bond Principles
Thirteen investment banks indicate their support for a measure designed to ensure transparency, disclosure, and integrity in the development of a more robust green bond market.
NEWS STORY:
ENVIRONMENTAL ISSUES | FINANCIAL INDUSTRY
Goldman Sachs Exits Coal Terminal Investment
BankTrack and the Rainforest Action Network applaud the investment bank's decision to withdraw from funding a proposed coal export terminal at Cherry Point, Washington.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES | HUMAN RIGHTS | FINANCIAL INDUSTRY
Genocide-Free Proposal to Stay On Proxy Ballot at Franklin Templeton
After the SEC rules against Franklin Templeton's request to have the resolution omitted, Investors Against Genocide will return to the mutual fund family's next annual meeting and renew call for a genocide-free investment policy.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Evaluate Public Policies on Climate, Investors Tell Energy Companies
Building on its efforts to pressure corporations to report on greenhouse gas emissions strategies, the Raising the Bar investor initiative requests that energy companies review lobbying policies relating to climate legislation.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Top Sustainable Investment Stories for 2013 Part 3
Divest or engage? Sustainable investors have wrestled with arguments of divestment versus engagement, and many have concluded that engagement provides them with the better opportunity to pressure fossil fuel companies to change their behaviors. Meanwhile, sustainable investment firms such as Green Century Capital Management and Trillium Asset Management have been offering fossil free investment opportunities for years.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Top Sustainable Investment Stories for 2013 Part 2
Sustainable shareowners request that fossil fuel companies report on financial impacts of having to leave in ground a majority of reserves on their books if climate change is to be addressed.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Top Sustainable Investment Stories for 2013 Part 1
As the daily mean concentration of carbon dioxide in the atmosphere surpasses 400 parts per million for the first time in three million years, the Intergovernmental Panel on Climate Change emphasizes tha human activity is responsible for climate change.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | CORPORATE REPORTING
Using Science to Set Emissions Targets
Climate Counts and the Center for Sustainable Organizations rank 100 companies within the context of climate science and find that nearly half are rated as sustainable.
NEWS STORY:
SUSTAINABLE INVESTMENT | CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
Improved Corporate Communication Key to Long Term Investment
Based on consultations with investors and companies, a new paper finds little support for the concept of loyalty-driven securities, but investors agree on the importance of long-term investment horizons.
NEWS STORY:
SHAREOWNER ACTION | ENVIIRONMENTAL ISSUES | CORPORATE GOVERNANCE | OIL AND GAS INDUSTRY
NGOs Condemn Chevron for Assaults on Free Speech
Following the most recent of Chevron's legal maneuvers to avoid responsibility for environmental damage in Ecuador, a group of nongovernmental organizations publish an open letter condemning its tactics.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Index Ranks Climate Change Preparedness of Nations
The annual Notre Dame Global Adaptation Index finds that the world's poorest countries are more than a century behind their developed nation counterparts in adapting to climate change.
NEWS STORY:
BOOK REVIEW | SHAREOWNER ACTION | CORPORATE GOVERNANCE
Book Review: Engaging Outraged Stakeholders
The three authors, who are executives with the nonprofit organization Future 500, counsel for a dispassionate approach to problem solving when corporations and civil society organizations meet.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
Volcker Rule Is Finalized
After delays that gave rise to fears of gaming by banking industry lobbyists and led to a lawsuit by Occupy SEC, federal regulators finally issue final rules implementing the Volcker Rule.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
More Environmental Risks for Fracking Operations
A report by the Environmental Integrity Project warns that construction or expansion of more than 90 natural gas power plants could increase greenhouse gas emissions by 91 million tons.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES | HUMAN RIGHTS
At-Risk Industries Urged to Address Human Trafficking in Supply Chains
The Interfaith Center on Corporate Responsibility announces that members will engage with companies in the food-agricultural and hospitality sectors to ensure that human rights in supply chains are being met.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES | HUMAN RIGHTS
Nelson Mandela
Not only was the late South African leader an icon for international justice and peace; his struggles against apartheid have had a lasting impact on the quest of sustainable investors for social justice in capital markets.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES
Divest or Engage a Serious Question for More than Investors
UK think tank Meteos convenes an investor dialogue on risks to energy holdings and recommends more analysis of the effects of climate change mitigation on stranded fossil fuel assets.
NEWS STORY:
SHAREOWNER ACTION | EXECUTIVE COMPENSATION
How Walmart Can Pay Employees a Living Wage
Just in time for the holiday season, Demos explains that wage increases instead of stock buybacks can provide living wages for Walmart�s employees without resorting to price increases.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Fossil Fuel Subsidies Average $112 per Adult
A new report on subsidies by the Overseas Development Institute recommends that they be phased out globally by 2025 in order to encourage investment in renewable energy.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE POLITICAL SPENDING | MUTUAL FUNDS
Mutual Fund Support for Political Spending Resolutions Inches Upward
The Center for Political Accountability and Fund Votes release their yearly analysis of voting on resolutions addressing disclosure of political spending by corporations.
NEWS STORY:
SUSTAINABLE INVESTMENT | CORPORATE REPORTING | STOCK EXCHANGES
EIRIS to Create Sustainable Index for Turkish Stock Exchange
The agreement with Borsa Istanbul follows the London-based sustainable investment research firm's finding that companies in emerging markets with sustainable stock exchanges outperform their peers.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CORPORATE REPORTING
Investors Call for Improved Disclosures by Operators of Wood-Burning Power Plants
A report by the Partnership for Policy Integrity challenges claims of carbon neutrality by three companies with bioenergy operations, and 15 fifteen investors call on the Securities and Exchange Commission to review disclosures by the companies.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING | FINANCIAL INDUSTRY
US Banks Rank Poorly on Indicators of Concern to Sustainable Investors
The Interfaith Center on Corporate Responsibility and Sustainalytics rate seven major US banks on four key performance indicators relating to sustainability and corporate responsibility, finding significant room for improvement.
INTERVIEW:
SHAREOWNER ACTION | ENVIIRONMENTAL ISSUES | CORPORATE GOVERNANCE | OIL AND GAS INDUSTRY
Shareowners Opt for Engagement to Press Chevron on Corporate Governance
Shareowner advocate Simon Billenness updates SocialFunds.com on judgment against Chevron in Ecuador, and explains why engagement with fossil fuel companies is more effective than divestment.
NEWS STORY:
SUSTAINABLE INVESTMENT | CORPORATE REPORTING | STOCK EXCHANGES
Sustainable Stock Exchanges can Influence Corporate ESG Performance
EIRIS publishes results of interviews with 11 stock exchanges and finds that helping investors engage with companies on sustainability issues is a key motivating factor.
NEWS BRIEF:
COMMUNITY INVESTMENT | FOOD AND BEVERAGE INDUSTRY
$10 Million Investment to Prevent Coffee Rust
A coalition including Green Mountain Coffee helps fund Root Capital's Coffee Farmer Resilience Initiative, which seeks to stabilize supply chains by battling the coffee leaf rust fungus in Central America.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING | OIL AND GAS INDUSTRY
Shareowner Engagement yet to Convince Frackers to Disclose
A group of sustainable institutional investors issues a report on the hydraulic fracturing industry that reveals companies are failing to disclose impacts on communities and the environment from their operations.
NEWS STORY:
CORPORATE REPORTING | ENVIRONMENTAL ISSUES | FINANCIAL INDUSTRY
Banks to Receive Guidance on Reporting Emissions in Lending
Only six percent of major financial institutions report on emissions associated with lending and investments, so guidance is being developed to help them do so.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Investors Call on Fossil Fuel Companies to Account for Stranded Assets
Seventy institutional investors with more than $3 trillion in assets under management request that 45 companies report on unburnable fossil fuel assets in advance of 2014 proxy season. Third of a three-part series.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | STOCK INDEXES
Latin American Sustainable Investment Forum Is Launched
The Colombian Securities Exchange, Sustainalytics, and Deloitte drive the formation of the regional network which aims to increase collaboration and enhance knowledge relating to sustainable investment.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | RENEWABLE ENERGY
As Fossil Fuel Divestment Grows, Cleantech Offers Opportunities for Investors
As You Sow teams with Kachan & Co. and the Responsible Endowments Coalition to outline opportunities for investors in cleantech. Second of a three-part series.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | FOSSIL FUEL INDUSTRY
Fossil Fuel Divestment only the First Step
Investors join 350.org to produce a guide on divesting from fossil fuel companies. First of a three-part series.
NEWS STORY:
CORPORATE REPORTING | HUMAN RIGHTS
Resource Addresses Human Trafficking in Corporate Supply Chains
The Know the Chain initiative, whose investor partners include the Interfaith Center on Corporate Responsibility and the Responsible Sourcing Network, seeks to document corporate compliance with California's new law governing human trafficking.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | MEDIA COMPANIES
Shareowners Call for Independent Chair at Twenty-First Century Fox
A resolution co-filed by Christian Brothers Investment Services and the British Columbia Investment Management Corporation is supported by two-thirds of independent shareowners, but the company's dual-class stock structure insulates Rupert Murdoch from a majority vote.
NEWS BRIEF:
SHAREOWNER ACTION | SOCIAL ISSUES | HUMAN TRAFFICKING
Coalition of Brands and Retailers Refuse to Source Uzbek Cotton
The Responsible Sourcing Network announces that recent signatories to the Company Pledge Against Forced Child and Adult Labor in Uzbek Cotton bring to 136 the number of companies refusing to knowingly source cotton harvested by child labor.
NEWS BRIEF:
COMMUNITY INVESTMENT | FINANCIAL INDUSTRY | FIXED INCOME
Community Capital Management Commits $200 Million to Community Development
The fixed income investment advisory firm announces its first Clinton Global Initiative America commitment, and will invest at least $200 million over the next year to help revitalize low-income communities.
NEWS STORY:
SHAREOWNER ACTION | POLITICAL EXPENDITURES | FOOD AND BEVERAGE INDUSTRY
Stay out of GMO Fight, Shareowners Tell Food Companies
Investors file resolutions with many food and biotech companies, warning them of reputational consequence of donating to defeat a ballot initiative in Washington State calling for labeling of food products containing genetically modified organisms.
NEWS BRIEF:
SHAREOWNER ACTION | SOCIAL ISSUES | HUMAN RIGHTS
Shareowners Question FedEx over Washington Redskins
A floor resolution at the company's annual meeting cites global human rights standards in asking for a report on the impact of ending a business relationship with the NFL team over racist nickname.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Engage or Divest?
As college students continue their campaign for divestment from fossil fuel companies, Northstar Asset Management debunks estimates of the cost of the investment strategy and questions whether shareowner engagement can be effective.
NEWS STORY:
SHAREOWNER ACTION | INSTITUTIONAL INVESTORS
The State of Shareowner Engagement in Europe
Eurosif reports on investor engagement with corporations in Europe and finds that engagement on environmental, social, and corporate governance issues is steadily increasing.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING | POLITICAL SPENDING
New Edition of Corporate Political Spending Index Published
The third annual edition of the CPA-Zicklin Index of Political Accountability and Disclosure documents improvements in disclosure of political spending by corporation.
NEWS BRIEF:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTIITUTIONS
CDFI Fund Awards over $172 Million to Community Development Financial Institutions
191 community development financial institutions will use awards from US Treasury's Community Development Financial Institutions Fund to provide lending and investments in low-income and economically distressed communities.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Will Governments Act on the Basis of Scientific Consensus?
The Intergovernmental Panel on Climate Change publishes the first section of its Fifth Assessment Report, which asserts with even greater emphasis that climate changed is caused by human activity.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | STOCK INDEXES
New Stock Indexes Champion Sustainability
The United Nations Global Compact creates an index of 100 companies adhering to its principles, and STOXX launches two indexes using key performance indicators developed by Axel Hesse.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | FOOD INDUSTRY
As You Sow Engages with Food Companies on Packaging
The advocacy group succeeds in convincing McDonald's to end the use of environmentally destructive polystyrene foam cups, but decides to resubmit a shareowner resolution with General Mills after engagement over post-consumer packaging fails to lead to agreement.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | EXECUTIVE COMPENSATION
Sustainable Investors Applaud SEC Rules on Executive Compensation
A proposed amendment to existing rule will require corporations to compare CEO pay with the average compensation of all other employees.
NEWS BRIEF:
SHAREOWNER ACTION | SUSTAINABLE INVESTMENT | MUTUAL FUNDS
Mutual Fund Challenged over Proxy Voting on ESG Issues
Zevin Asset Management files a shareowner resolution at Franklin Resources, requesting that the mutual fund company report on proxy voting policies relating to environmental and social issues.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | ENERGY INDUSTRY
EPA Proposes Limits for Power Plant Emissions
The standards, which will limit emissions by new power plants, are praised by investors and corporations, and assailed by the Senate Minority Leader and the Chamber of Commerce.
NEWS STORY:
SUSTAINABLE INVESTMENT | EMERGING MARKETS | PENSION FUNDS
South Africa a Global Leader in Sustainable Investment
Investment research by SinCo informs a new report on global best practice guidebook on sustainable investment and the incorporation of ESG factors by pension funds.
NEWS BRIEF:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
Three Community Lenders Awarded $8.25 Million
Opportunity Finance Network presents the 2013 Wells Fargo NEXT Awards for Opportunity Finance to three community lenders for their pioneering strategies for financial products and services in low-income communities.
NEWS STORY:
SUSTAINABLE INVESTMENT | FINANCIAL INDUSTRY
Entrepreneurs to Advertise for Investment through Crowdfunding
SocialFunds.com talks with Judd Hollas of EquityNet about the implications of a change in SEC rules that will allow small businesses to advertise to accredited investors for capital.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | FINANCIAL INDUSTRY
Occupy Movement to Rally for a Robin Hood Tax on Financial Transactions
On the second anniversary of the movement's birth, protestors will march on Chase Manhattan Bank and call for a financial transaction tax to raise funds for social programs.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | CORPORATE REPORTING
CDP Report on Global 500 Emissions Is Published
The report finds that the average emissions of the 50 heaviest emitters among the world's largest companies have actually increased since 2009.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | FINANCIAL INDUSTRY
Bank of America a Corporate Sustainability Leader?
S&P Dow Jones Indices announces that Bank of America will be added to its influential sustainability indexes despite the bank's continuing financial support of the coal industry.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Chevron Drops Damage Claims Against Ecuadorians
The oil company also requests that Judge Lewis Kaplan and not a jury decide its RICO lawsuit, and that defendants be barred from introducing evidence of environmental destruction in Ecuador.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Shell Fined $1 Million for Clean Air Act Violations in Arctic
The Environmental Protection Agency finds the company violated its Clean Air Act permits in the Arctic after encountering operational challenges with its two drilling rigs.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | EMERGING MARKETS
Corporate ESG Performance in Hong Kong and China Stagnant
Asian research provider RepuTex-ESG analyzes the ESG performance of companies on the Hang Seng Corporate Sustainability Index Series and finds it basically unchanged from 2012.
NEWS BRIEF:
SUSTAINABLE DEVELOPMENT
Governments Overestimate Levels of Sustainable Development
By failing to account for materials extraction through international trade, developed nations provide a misleading picture of raw materials use.
NEWS BRIEF:
COMMUNITY INVESTMENT | FINANCIAL INDUSTRY
Global Impact Investing Network Publishes Guide to ESG Metrics for Investors
The Impact Reporting and Investment Standards (IRIS) is a set of metrics designed to evaluate both a corporation's financial performance and its environmental, social, and governance impacts.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | FINANCIAL INDUSTRY
Bank of America Bankrolls Coal India Despite Poor ESG Performance
Bank of America and Goldman Sachs are among the foreign banks selected by the government of India to sell a stake in the world�s largest coal company, despite Bank of America's statements of commitment to sustainability.
NEWS BRIEF:
SUSTAINABLE INVESTMENT
Corporate Sustainability Leaders Report Business Benefits
A survey of sustainability heads by the UK-based Verdantix indicates that most have achieved cost savings and almost half expect to increase spending on product sustainability
NEWS STORY:
ENVIRONMENTAL ISSUES | WATER SCARCITY
As Consumption Declines, Water Utilities Need New Pricing Models
A report from Ceres and the University of North Carolina reveals that the current pricing models used by water utilities are inadequate at a time when they face considerable infrastructure costs.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | MUTUAL FUNDS
Alliance Trust Investments Measures Carbon Footprints of its Funds
The UK investment firm�s analysis reveals that three of its sustainable equity funds emit less than half the carbon dioxide of their benchmarks.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | MUTUAL FUNDS
Sustainable Investment Firms Comment on Fed Plan to Ease Stimulus
The Appleseed Fund expresses some skepticism of the Federal Reserve's optimistic outlook, while Green Century Capital Management highlights the World Bank Green Bonds as part of a diversified portfolio.
NEWS STORY:
COMMUNITY INVESTMENT | FINANCIAL INDUSTRY
Community Investment Practitioners Urged to Diversify Approaches
A new report published by US SIF notes barriers to increased community investment but finds that the industry is poised for expansion if practitioners can diversify products and marketing.
NEWS STORY:
SUSTAINABLE INVESTMENT | ENVIRONMENTAL ISSUES | INSTITUTIONAL INVESTORS
Investors More Comfortable Assessing Climate Change Risks than Opportunities
In its third annual survey, the Global Investor Coalition on Climate Change reports that assessing climate risk has become commonplace among institutional investors, but government inaction and other barriers continue to hinder a transition to low carbon investment.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | CORPORATE REPORTING
German Stock Exchange 100th Business to Join Integrated Reporting Pilot
The International Integrated Reporting Council announces that Deutsche B�rse Group is the first stock exchange to join its pilot program in integrated reporting.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CORPORATE REPORTING
Record Number of Sustainability Resolutions in 2013
In its overview of the 2013 proxy season, Ceres reports that 40% of all resolutions filed address environmental and social issues, and that 40 of the 110 such resolutions were withdrawn.
NEWS STORY:
COMMUNITY INVESTMENT | FINANCIAL INDUSTRY
Impact Economy Produces Analysis of Impact Investing
The authors identify trends that are likely to encourage an increase in impact investing, but fail to distinguish the definition for it from that of sustainable investing.
NEWS BRIEF:
SHAREOWNER ACTION | SOCIAL ISSUES | FOOD INDUSTRY
Tyson Shareowners Call for Humane Treatment of Animals
Green Century Capital Management is co-filer of a resolution requesting that meat processing company report on risks associated with the use of gestation crates for pigs.
NEWS BRIEF:
SHAREOWNER ACTION | MUTUAL FUNDS
Shareowner Support for Environmental and Social Resolutions at a Ten-Year High
Jackie Cook of Fund Votes summarizes the 2013 proxy season and notes strong support for shareowner resolutions across the environmental, social, and corporate governance spectrum.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
US SIF Offers Guides on Climate Change Investment for Retail and Institutional Investors
Warning of the urgent crisis that is climate change, the guides provide basic information on voting proxies, filing shareowner resolutions, and public policy advocacy.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | INSTITUTIONAL INVESTORS
Ceres Publishes Blueprint for Sustainable Investment
In The 21st Century Investor, Ceres outlines how investors can help transform the global economy into one in which sustainability is the central concern. Second of two parts.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE POLITICAL SPENDING
Another Majority Vote for Political Spending Disclosure
A 65% vote by shareowners in favor of increased transparency on lobbying expenditures by Alliant Techsystems follows an even higher vote for a similar proposal at CF Industries.
NEWS BRIEF:
SHAREOWNER ACTION | SOCIAL ISSUES | HUMAN RIGHTS | FINANCIAL INDUSTRY
Investors Renew Call for Genocide-Free Investing at ING
More than a year has passed since a majority of shareowners supported a resolution sponsored by Investors Against Genocide, but the financial services firm continues to refuse to implement a genocide-free investment policy.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Ceres, ICCR Offer Guidance for Sustainable Investing
The Interfaith Center on Corporate Responsibility provides insights for investors on climate change, and Ceres issues a blueprint for investors seeking to incorporate sustainability into their decision making. First of two parts.
NEWS BRIEF:
SHAREOWNER ACTION | SOCIAL ISSUES | HUMAN RIGHTS | FINANCIAL INDUSTRY
Boston Common Asset Management Receives Business Leader in Human Rights Award
The sustainable investment firm is honored by the Political Asylum/Immigration Representation Project for promoting attention to human rights issues in the corporate sector.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Major Cities Adapting to Climate Change
A report by the Carbon Disclosure Project and the C40 Cities Climate Leadership Group reveals that many of the world�s largest cities have launched energy efficiency and other initiatives to lessen the effects of climate change.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Obama Directs EPA to Use Clean Air Act to Regulate Emissions
Acknowledging that Congress is likely to persist in failing to act on climate change, the President decides that executive action is needed to address a growing crisis whose effects are already being felt.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Hundreds of Small Businesses Sign Climate Declaration
During the recent Small Business Week in Washington DC, the American Sustainable Business Council and Business for Innovative Climate and Energy Policy announce that 364 small businesses from 47 states have joined the call for lawmakers to act on climate change.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | INSTITUTIONAL INVESTORS
Investor Coalition Holds First Global Forum on Climate Change
The Global Investor Coalition on Climate Change, a network of four regional climate change investor groups, holds its first meeting in Hong Kong and launches an action plan to facilitate low-carbon investment.
NEWS BRIEF:
SHAREOWNER ACTION | SOCIAL ISSUES | HUMAN RIGHTS | FINANCIAL INDUSTRY
Genocide-Free Shareowner Proposal Gains Strong Support at Fidelity Investments
Investors Against Genocide continues its campaign to pressure mutual funds and other financial institutions into adopting genocide-free investment policies.
NEWS STORY:
SUSTAINABLE DEVELOPMENT | EMERGING MARKETS
In China, Worsening Pollution or Sustainable Development?
The 2013 report by the China Greentech Initiative warns that despite increasing investment in cleantech, China continues to be plagued by severe environmental problems.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | SHAREOWNER ACTION
Gulf Persists Between Corporate Sustainability Claims and Performance
Sixty percent of corporate respondents to an oekom research survey suggest that rating agencies and sustainable investors influence strategy.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | FINANCIAL INDUSTRY
Revised Equator Principles Fall Short, BankTrack Says
The third version of the Equator Principles fails to adequately safeguard community rights while continuing to allow signatory banks to fund high impact sectors such as coal and tar sands.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING | HUMAN RIGHTS
Coalition of Investors Voices Support for Conflict Minerals Rule
Expressing their disagreement with a lawsuit filed by the US Chamber of Commerce and industry trade groups, the group states that improved disclosure and reporting on social risk factors will protect investors.
NEWS STORY:
SHAREOWNER ACTION | ENVIIRONMENTAL ISSUES | CORPORATE GOVERNANCE | OIL AND GAS INDUSTRY
Investors Square Off with Chevron CEO at Shareowner Meeting
Shareowner advocate Simon Billenness cites the company's $19 billion legal quagmire in Ecuador in requesting a lower threshold for calling special meetings while Atossa Soltani of Amazon Watch is ejected from meeting at request of CEO John Watson.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Threatened by Climate Change, Ski Industry Joins Call for Effective Policies
More than 100 US ski resorts sign the Climate Declaration of Ceres, calling for a coordinated effort to combat climate change threatening the winter sports industry.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Effective Policy Will Drive Investment in Energy Efficiency
A report from Ceres and the Investor Network on Climate Risk calls for policies that will encourage institutional investors to invest in energy efficiency projects.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | ENVIRONMENTAL ISSUES
How Not to Endear Yourself to Shareowners
Range Resources attacks Trillium Asset Management for requesting that it report on fugitive methane emissions, and Urban Outfitters seeks to address diversity concerns by appointing the wife of the CEO to the board.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
High Profile Proxy Season Reveals the Plumbing
A proxy distribution service abruptly reverses policy and refuses shareowner access to preliminary vote totals at JPMorgan Chase, and Institutional Shareholder Services settles charges that an employee sold voting data.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
JPMorgan Shareowners Vote on Corporate Governance and Genocide-Free Investing
A resolution calling for the separation of the positions of board chair and CEO gains the votes of one-third of the bank's shareowners, while support for a genocide-free investing proposal increases.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Chevron Continues to Misrepresent Ecuador Judgment, Updated Report Says
Attorney Graham Erion updates his 2012 report on misrepresentations made by Chevron to investors regarding the $19 billion judgment against it for environmental destruction in Ecuador.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES | SUPPLY CHAIN MANAGEMENT
Investors Call on Corporations to Ensure Worker Safety in Bangladesh
Two coalitions of investors pressure clothing retailers to join the Accord on Fire and Building Safety in Bangladesh, whose 40 signatories include only two companies headquartered in the US.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | COAL INDUSTRY
First Carbon Bubble Resolution Wins Strong Support at CONSOL Energy
Twenty percent of shareowners support an As You Sow request that the company report on the financial risks associated with having to leave most of its coal reserves in the ground.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | MEDIA COMPANIES
Shareowners Re-file Governance Resolutions at News Corp
Christian Brothers Investment Services and the British Columbia Investment Management Corporation request separation of positions of board chair and CEO, while the Nathan Cummings Foundation calls for elimination of the media company's dual-class share structure.
NEWS STORY:
CORPORATE REPORTING | EMERGING MARKETS
Emerging Markets to be Focus of Socially Responsible Investing 3.0
A new report argues that evolving climate finance mechanisms will be among the drivers to increase the practice of sustainable investment in emerging market nations.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Three Million Years Later, 400 Parts per Million of CO2 in Atmosphere
Daily concentrations of carbon dioxide in the atmosphere pass the 400 parts per million threshold, foretelling severe effects from climate change if a long-overdue reversal of the trend does not occur.
NEWS STORY:
COMMUNITY INVESTMENT | EMERGING MARKETS
Report Touts Inclusive Business as Means for Reducing Poverty in Africa
The African Facility for Inclusive Markets calls on diverse stakeholders to help create appropriate conditions for the growth of inclusive business in Africa and bring the benefits of economic growth directly to the poor.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING | POLITICAL EXPENDITURES
Biggest Corporate Political Spenders Face Resolutions
Bank of America, Chevron, ExxonMobil and 3M all face shareowner resolutions requesting that they refrain from using corporate treasuries for political donations.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | COAL INDUSTRY
Resolution Calls on CONSOL Energy to Report on Stranded Assets
Up to 80% of known fossil fuel reserves will have to stay in the ground if climate change is to be addressed, and As You Sow requests that the coal producer report on the risks of stranded reserve and infrastructure assets.
NEWS STORY:
SOCIAL ISSUES | CORPORATE REPORTING | HUMAN RIGHTS
Loopholes in Commitments to Human Rights by US Businesses, UN finds
While the US Government has committed to the UN Guiding Principles on Business and Human Rights, the UN Working Group on business and human rights finds that US companies fall short of standards.
NEWS BRIEF:
COMMUNITY INVESTMENT | FINANCIAL INSTITUTIONS
More than $90 Million Invested in SJF Ventures Fund
SJF Ventures, a sustainable venture capital partnership, conducts the final closing of its SJF Ventures III fund with more than $90 million in equity investments in cleantech and technology-enhanced services.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
State Department Assessment of Keystone Pipeline Insufficient, EPA states
Commenting on a State Department review of the controversial Keystone XL pipeline, the Environmental Protection Agency criticizes its findings on greenhouse gas emissions and pipeline spills.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | FINANCIAL INSTITUTIONS
US Banks Continue to Finance Coal
Despite the coal industry's leading impact on climate change and the bankruptcies of several operators of coal-fired power plants, US banks continue to finance mountaintop removal and the construction of new plants.
NEWS BRIEF:
SHAREOWNER ACTION | PERSONAL CARE PRODUCTS | PRODUCT SAFETY
Avon Challenged to Remove Toxins from Cosmetics
Shareowners will vote this week on a resolution by Green Century Capital Management that follows the introduction in Congress of the Safe Cosmetics and Personal Care Products Act of 2013.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | INFORMATION TECHNOLOGY
Cisco, Google Share Top Spot on Cool IT Leaderboard
The sixth edition of the Greenpeace ranking of companies in the information technology sector focuses on political advocacy for effective climate change legislation.
NEWS STORY:
SUSTAINABLE INVESTMENT | ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Price Externalities, Report Tells Companies and Investors
A new analysis from Trucost estimates that unpriced externalities cost the global economy at least $7.3 trillion per year, and finds that no companies in high impact sectors would be profitable if they had to account for environmental costs.
NEWS BRIEF:
SHAREOWNER ACTION | FOOD AND BEVERAGE INDUSTRY | PRODUCT SAFETY
Investors Want Baby Formula Free of GMOs
As the use of genetically modified organisms in food products becomes increasingly controversial in the US, As You Sow introduces a shareowner resolution requesting that Abbott Laboratories remove GMOs from infant formula.
NEWS BRIEF:
SHAREOWNER ACTION | SOCIAL ISSUES | HUMAN RIGHTS
Investors Call for Meaningful Immigration Reform
A coalition of investors associated with the Interfaith Center on Corporate Responsibility call for immigration reform that includes a pathway to legal status and protects the rights of immigrants in US workplaces.
NEWS STORY:
ENVIRONMENTAL ISSUES | FOSSIL FUEL INDUSTRIES
Subsidizing Fossil Fuels Hinders Investment in Renewables
A paper from the Overseas Development Institute calls for an end to fossil fuel subsidies in order to help mobilize private investment in climate-compatible development in developing nations.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING
INCR Propose Listing Standards for Stock Exchanges
Drawing upon dialogues with NASDAQ and other stock exchanges, INCR produces a consultation paper recommending the integration of sustainability disclosure requirements into listing rules.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | INSTITUTIONAL INVESTORS
US SIF Launches Online Course on Sustainable Investment
The Forum for Sustainable and Responsible Investment launches the Center for Sustainable Investment Education and the first online course offering of its kind in the US.
NEWS STORY:
SOCIAL ISSUES | CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
Paper Cited as Support for Austerity Is Wrong, Researchers Find
A 2010 academic paper warning of the consequences of high debt was cited by Representative Paul Ryan and others as justification for austerity measures, but a new analysis of the paper's findings reveals that mistakes undermine its conclusions.
NEWS STORY:
SHAREOWNER ACTIVISM | CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
Shareowners Call for a Vote in Favor of Good Governance at JPMorgan
In a letter to the bank's shareowners, the American Federation of State, County & Municipal Employees and its co-filers argue for support for their resolution calling for separation of the positions of Chair and CEO.
NEWS STORY:
SHAREOWNER ACTION | ENVIIRONMENTAL ISSUES | CORPORATE REPORTING | OIL AND GAS INDUSTRY
Climate Principles Issues Best Practices for Hydraulic Fracturing
Guidelines for financiers of hydraulic fracturing published by the European Climate Principles add to calls for greater transparency by companies engaged in the practice.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Businesses Join Call for Climate Legislation
Thirty-three companies join Ceres and its BICEP coalition in signing the Climate Declaration and calling on Congress to finally pass strong climate legislation.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | DIVERSITY
Financial Firms Agree to Disclose Diversity Information
The New York City Pension Funds have reached agreement with three financial companies that will make public their EEO-1 data on diversity.
NEWS BRIEF:
SOCIAL ISSUES | CORPORATE REPORTING | EXTRACTIVES INDUSTRIES
EU Mandates Disclosure of Payments to Governments
Transparency International says that with the European mandate joining rules enacted by the Securities and Exchange Commission in the US, 90% of companies in the extractives industries will be required to disclose payments to governments.
NEWS STORY:
SUSTAINABLE INVESTMENT | ENVIRONMENTAL ISSUES | CORPORATE REPORTING
From Divestment to a Sustainable Investment Strategy
The authors of Crossing Thresholds: From Fossil Fuel Divestment to Sustainable Investment argue for the inclusion of environmental and social thresholds in investment decision-making and corporate management.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | FINANCIAL INDUSTRY
On Divestment and a Portfolio Free of Fossil Fuels
The debate over the investment implications of divestment continues, but the Green Century Balanced Fund has a carbon footprint less than half that of the S&P 500 without sacrificing financial returns.
NEWS STORY:
SHAREOWNER ACTIVISM | CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
Bankrolling the Dismantling of the Volcker Rule
Despite a Senate report finding that JPMorgan's London Whale losses would have been prohibited by the Volcker Rule, members of a House Committee take bank contributions and vote to advance a bill that would allow taxpayer bailouts of too big to fail banks.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE REPORTING | UTILITIES
Investors Want Better Disclosure from Municipal Water Utilities
Basing their requests on a framework developed by Ceres, 12 investors write to the National Federation of Municipal Analysts, asking for improved disclosure to ensure that all material information is provided.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
End in Sight for Too Big to Fail?
Senators Sherrod Brown and Bernie Sanders each pursue legislative initiatives to end the economic advantages of the nation's largest banks and force them to break up.
NEWS STORY:
COMMUNITY INVESTMENT | EMERGING MARKETS | FINANCIAL INDUSTRY
Root Capital Surpasses $500 Million in Lending to Agricultural Businesses
Helping to address a need that has been estimated at $450 billion, the agricultural lender anticipates $1 billion in loans over the next five years to small agricultural businesses in developing nations.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES | FOOD AND BEVERAGE INDUSTRY
Investors Support Launch of Access to Nutrition Index
Representing $2.6 trillion in assets under management, 39 investors call for widespread support of the Access to Nutrition Index, which ranks the performance of food and beverage companies in the areas of obesity and undernutrition.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES
Afloat on Fossil Fuel Money, Senate Votes for Keystone Pipeline
Oil Change International reports that the 62 Senators supporting the controversial tar sands pipeline in a non-binding vote have received $31 million in campaign contributions from fossil fuel interests.
NEWS STORY:
SUSTAINABLE INVESTMENT | SOCIAL ISSUES
After Double-Checking the Definition of Plutonic
Encouraged by a morning's reading of recent posts in Peter Kinder's excellent blog The Bell, a writer meditates upon the uncertain finish to the race between sustainability and overconsumption of resources.
NEWS BRIEF:
COMMUNITY INVESTMENT | SOCIAL ISSUES | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
CDFI Fund to Focus on Financing of Community Health Centers
The Financing Community Health Centers series will provide training and technical assistance to community development financial institutions to help them expand the financing of community health centers.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | FINANCIAL INDUSTRY
Bank of America Urged to End Financing of Coal
Sustainable investors are among the 50 signatories to a letter delivered to Bank of America, urging it to phase out the financing of coal and shift its lending priorities to renewable energy.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | RENEWABLE ENERGY TECHNOLOGIES
Deployment of Renewables Increases but Market Contracts
The annual report on clean energy by Clean Edge emphasizes that despite a challenging year for renewable energy, climate change and resource constraints mean that the fundamental drivers for the industry remain.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | INSURANCE INDUSTRY
Insurers Still Unequipped to Deal with Climate Change
In a survey of 184 disclosures by insurance companies, Ceres finds that only 23 have climate change strategies, and few have policies in place to help prepare for the effects of climate change.
NEWS STORY:
ENVIRONMENTAL ISSUES | CORPORATE REPORTING
Law Professor Anticipates Future of Climate Adaptation Law
In an academic paper, J.B. Ruhl of the Vanderbilt University Law School summarizes the piecemeal efforts undertaken thus far to address climate adaptation from a legal standpoint, and outlines legal issues that are likely to emerge.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES | HUMAN RIGHTS | FINANCIAL INDUSTRY
15 Million Shares Vote for Genocide-Free Investing Proposal at Mutual Fund
Investors Against Genocide calls on Franklin Templeton to adopt a policy against investing in companies whose operations contribute to genocide.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES
Report Says Carbon Bubble Poses Risk to Financial Stability
Originally published in 2011, Carbon Tracker's report Unburnable Carbon wins a Farsight Award from UK-based Long Finance for its assessment of the financial implications of fossil fuel reserves.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | FINANCIAL INDUSTRY
Pax World Adds TIAA-CREF to ESG Managers Portfolio
TIAA-CREF's fixed-income Social Choice Bond Fund, launched in September, will be included in the Moderate and Conservative portfolios of the series of asset allocation funds.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | COAL INDUSTRY
First-Time Shareowner Resolutions Address Stranded Fossil Fuel Assets
As You Sow and the Unitarian Universalist Association have filed shareowner resolutions with two large coal companies, requesting that they report on material impact of reserves that must remain in the ground if climate change is to be addressed.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING
As You Sow Publishes 2013 Proxy Preview
Political spending resolutions account for one-third of those filed this year's, while two first-time resolutions request that companies in the fossil fuel industries report on the financial impact of stranded assets.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | BOARD DIVERSITY
Calvert Updates Report on Corporate Gender Diversity
The updated Examining the Cracks in the Ceiling report finds modest gains in gender diversity among S&P 100 companies but persistent underrepresentation of women in senior management positions.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES | HEALTH INSURANCE INDUSTRY
Proposal Challenges TIAA-CREF on For-Profit Health Insurance
Advocacy groups urge the pension fund to divest its holdings in private health insurance companies, arguing that the industry has a well-documented history of unethical behavior and abuses.
NEWS STORY:
SUSTAINABLE INVESTMENT | INSTITUTIONAL INVESTORS
What Is the Real Financial Impact of Sustainable Investment?
Cary Krosinsky of the Network for Sustainable Financial Markets produces a white paper that argues the actual amount of assets devoted to sustainable investment strategies is considerably lower than reported by the world's largest sustainable investment forums.
NEWS STORY:
SOCIAL ISSUES | CORPORATE REPORTING | HUMAN RIGHTS
Investors Highlight Human Rights in Corporate Engagement
A new report builds upon the Guiding Principles on Business and Human Rights to provide investors with tools for assessing the human rights performance of companies.
NEWS STORY:
CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
Feds Hit with Occupy Lawsuit over Volcker Rule
Occupy the SEC files suit against six federal agencies for failing to implement Dodd-Frank regulations governing risky proprietary trading by banks.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE
Shareowners Call for Gender Diversity on Corporate Boards
Institutional members of the Thirty Percent Coalition file shareowner resolutions with 20 companies, requesting that they support diversity by including women and minority candidates on their boards.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CORPORATE REPORTING | UTILITIES
Get Real about Climate Change, Shareowners Tell Utilities
With trillions of dollars in infrastructure upgrades looming for electric utilities, investors call on five companies to emphasize a transition to renewables, improve energy efficiency, and manage water risks.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
Investors Question Payday Lending by Banks
The US Consumer Financial Protection Bureau contemplates regulations to protect against consumer debt traps, while ICCR members call on major banks to address their own risky lending products.
NEWS STORY:
SHAREOWNER ACTION | ENVIIRONMENTAL ISSUES | CORPORATE REPORTING | OIL AND GAS INDUSTRY
Fracking on Proxy Ballots at Chevron and Exxon
Described as laggards for their failure to address investor concerns, the oil and gas giants face shareowner resolutions addressing environmental and social risks associated with hydraulic fracturing.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING | POLITICAL EXPENDITURES
Lawsuit Dropped after Chip Maker Updates Political Spending Policy
After the New York State Comptroller filed suit in Delaware, Qualcomm updates its policy on political spending to include disclosure of payments to trade associations and social welfare organizations.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES | WEAPONS MANUFACTURERS
Divestment can be a Fiduciary Duty
Adam Kanzer of Domini Social Investments that divestment of holdings in firearms manufacturers is an appropriate response to tragedies such as the killing of children in Newtown.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
Shareowners Renew Call for Separation of CEO and Chair at JP Morgan Chase
The American Federation of State, County & Municipal Employees and a coalition of institutional co-filers will return to the banking giant's annual general meeting this year with a resolution that gained 40% of shareowner support in 2012.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CORPORATE REPORTING
Shareowners Pressure Companies on Use of Renewables
Most of the 13 resolutions target energy use in the information technology and real estate industry sectors, requesting improved reporting and commitments to increased renewable energy sourcing.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Senators Boxer and Sanders Propose Climate Change Legislation
Among the highlights of the proposed bill are a fee on carbon pollution and increased oversight of hydraulic fracturing.
NEWS STORY:
ENVIRONMENTAL ISSUES | CORPORATE REPORTING
Natural Capital and Integrated Reporting Among Trends for 2013
With the help of environmental research from Trucost, GreenBiz publishes the sixth annual edition of its State of Green Business Report, assessing major trends as well as the environmental performance of 500 US companies.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | FINANCIAL INDUSTRY
SEC Allows Climate Change Proposal at PNC Financial Services
The bank had sought to exclude a proposal by Boston Common Asset Management requesting that it report on climate change risks in its lending portfolio.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | INSTITUTIONAL INVESTORS
AFSCME Files 25 Shareowner Resolutions
The resolutions filed by the AFSCME Employees Pension Plan address sustainability issues including board diversity, human rights policies, separation of Chair and CEO, and lobbying expenditures.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | INSTITUTIONAL INVESTORS
Ceres Ranks Among World's Top NGOs
The annual Global Journal ranking of the world's most effective nongovernmental organizations places the environmental investor network sixth among 450 NGOs from 27 countries.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE REPORTING
Shareowners Call for Sustainability Reporting by Emerson Electric
For the fourth year in a row, a resolution filed by Walden Asset Management wins increased support from shareowners who want the company to improve its reporting on its ESG performance.
NEWS STORY:
SHAREOWNER ACTION | HUMAN RIGHTS | EXTRACTIVE INDUSTRIES
Statoil Breaks with Trade Association over Lawsuit
Calvert Investments commends Statoil for explicitly distancing itself from lawsuit filed by the American Petroleum Institute that contests SEC regulation governing payments to governments.
NEWS STORY:
SUSTAINABLE INVESTMENT | INSTITUTIONAL INVESTORS
Climate Change Outpacing Green Investment
A report from the World Economic Forum outlines the steps necessary to encourage the unprecedented shift in investment strategies that is necessary for sustainable growth.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING
ICCR Publishes 2013 Proxy Resolutions and Voting Guide
The Interfaith Center on Corporate Responsibility reports that its members have filed 180 shareowner resolutions and engaged in 225 corporate dialogues this proxy season.
NEWS STORY:
SHAREOWNER ACTION | ENVIIRONMENTAL ISSUES | CORPORATE REPORTING | OIL AND GAS INDUSTRY
Shareowners Press on with Fracking Campaign
Nine oil and gas companies face shareowner resolutions this proxy season requesting quantitative reporting of risks associated with hydraulic fracturing and the management of fugitive methane emissions.
NEWS STORY:
SOCIAL ISSUES | HUMAN RIGHTS
RepRisk Names Ten Most Controversial Companies in 2012
This year, the annual list from the Swiss-based environmental and social data provider focuses on poor labor conditions and human rights violations as well as bribery, fraud and money laundering.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE REPORTING | POLITICAL EXPENDITURES
Corporations Agree to Disclose Political Spending
The Center for Political Accountability announces that engagement has led to six corporations agreeing to adopt political disclosure and accountability, while a shareowner resolution at Visa gains significant support.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING | HUMAN RIGHTS
Many Industry Sectors Unprepared for Conflict Minerals Rule
A report from the Responsible Sourcing Network finds that leading companies in the information and communications industry have undertaken initiatives to ensure that their supply chains are free of conflict minerals, but few other industry sectors have done so.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | INSTITUTIONAL INVESTORS
Portfolios Can Thrive After Fossil Fuel Divestment
As students on campuses across the country respond to climate change by calling on universities to divest fossil fuel holdings, an analysis reveals that divestment could add little financial risk to portfolios.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | INSTITUTIONAL INVESTORS
Sustainable Investment Forums Form International Alliance
The Global Sustainable Investment Alliance, consisting of seven major sustainable membership organizations, publishes a survey of global trends in sustainable investment.
NEWS STORY:
SUSTAINABLE INVESTMENT | CORPORATE REPORTING
Corporate Knights Publishes Global 100 List of Leading Sustainable Corporations
The Belgian metal recycling company Umicore tops the ninth annual list of sustainable large cap corporations, but the list also includes Enbridge, the Canadian operator of pipelines carrying oil from the controversial tar sands.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES | HUMAN RIGHTS
Genocide-Free Investing Proposal on Proxy Ballot at Franklin Templeton
For the first time in at least 19 years, investors in the mutual fund will vote on a shareowner resolution, calling on the company to adopt policies to avoid investing in companies that contribute to genocide.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING | POLITICAL EXPENDITURES
Sustainable Investors Pressure Visa on Lobbying Expenditures
A shareowner resolution co-filed by Boston Common Asset Management and the Unitarian Universalist Association, calling on Visa to fully disclose all payments used for lobbying purposes, will be voted on at the company's annual general meeting on January 30th.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Thich Nhat Hanh, Alexis de Tocqueville, and Bernie Sanders on Climate Change
The Vermont Senator says he will introduce legislation that includes a price on carbon, but despite President Obama's statement of commitment to climate change a White House spokesperson says the administration has no plans to propose a tax on carbon.
NEWS BRIEF:
SHAREOWNER ENGAGEMENT | SOCIAL ISSUES
Trillium Engagement Leads to Non-Discrimination Policies at Four Companies
While employment discrimination against lesbian, gay, bisexual, and transgender remains common, a majority of Fortune 500 companies now include protections in their employment policies.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Keystone Pipeline First Challenge for Obama on Climate Change
With two new reports describing greenhouse gas emissions from oil sands development as even worse than expected, environmentalists and sustainable investors are likely to scrutinize the State Department's upcoming decision on the Keystone XL pipeline.
NEWS STORY:
ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Emissions from Canadian Oil Sands Worse than Expected
Two reports focus on the implications of building the Keystone XL pipeline and the effects on levels of greenhouse gas emissions from petroleum coke, a byproduct of the bitumen refining process.
NEWS BRIEF:
COMMUNITY INVESTMENT | ENVIRONMENTAL ISSUES
Cuomo Proposes $1 Billion Green Bank for New York
The bank will leverage public funds with private sector investment to hasten the transition to a clean economy and environment in New York State.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING | OIL AND GAS INDUSTRY
Briefs Supporting SEC Filed in Lawsuit Challenging Transparency Rules for Extractives
Oxfam America and members of Congress argue that a rule mandating disclosure of payments to governments will contribute to stability and help investors make informed decisions.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | FINANCIAL INDUSTRY
Sustainable Investment Assets Continue Growth in Canada
The biennial report by the Social Investment Organization of Canada reveals that sustainable assets under management now represent 20% of the total.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES
Ceres Awarded with Zayed Future Energy Prize
The investor network wins the $1.5 million prize in the nongovernmental organization category for its work on behalf of addressing climate change.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES| CORPORATE REPORTING
ICCR Challenges Companies on Climate Change
Members of the Interfaith Center on Corporate Responsibility have filed 28 shareowner resolutions thus far that address climate change related issues such as climate risk and sustainability reporting.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Draft Report Paints Grim Picture of Climate Change Effects
The 1,200-page Third National Climate Assessment warns that some effects of climate change are already underway, and insufficient response ensures that the effects will grow worse in coming years.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | OIL AND GAS INDUSTRY
Shareowner Resolution Challenges Chevron for Attacking Investors
The Needmor Fund and Zevin Asset Management file a shareowner resolution requesting that Chevron explain the rationale behind issuing subpoenas to force investors to share confidential communications.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | FINANCIAL INDUSTRY
European Sustainable Funds Hold Own in 2012
The twelfth annual study of Green Social and Ethical Funds in Europe by Vigeo Italia notes that consolidation of the industry has continued for a third year.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Shareowner Urges End to Natural Gas Flaring
Mercy Investment Services files a shareowner resolution with Continental Resources, requesting that the oil company reduce or eliminate the environmentally destructive practice of natural gas flaring in its operations.
NEWS STORY:
ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Dangerous Mishaps Plague Shell's Arctic Exploration
The Department of the Interior launches an expedited review of Shell's drilling program after a drill rig runs aground in the Gulf of Alaska.
NEWS STORY:
COMMUNITY INVESTMENT | FINANCIAL INDUSTRY
Feds Hand Foreclosure Relief over to Banks
The Office of the Comptroller of the Currency and the Federal Reserve Board reach an agreement with ten mortgage servicers that will end the Independent Foreclosure Review and instead provide $3.3 billion in direct payments to eligible borrowers.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CORPORATE GOVERNANCE
Top Sustainable Investment Stories of 2012, Part 5
In a cautionary tale of poor corporate governance, the year for Chevron began with a court in Ecuador upholding the $18 billion judgment against it for environmental damage, and ended with the company's lawyers serving subpoenas on its own shareowners.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CORPORATE GOVERNANCE
Top Sustainable Investment Stories of 2012, Part 4
Will the re-election of Barack Obama help further the sustainability agenda? Despite legislative inaction by Congress, regulatory agencies issued rules addressing climate change and corporate governance in 2012.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CORPORATE GOVERNANCE
Top Sustainable Investment Stories of 2012, Part 3
For some institutional investors, shareowner tactics evolve from resolutions to engagement, and proposals addressing hydraulic fracturing focus concerns on community impacts.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES | FINANCIAL INDUSTRY
Non-Violent Protest or Terrorist Threat?
FBI documents obtained by the Partnership for Civil Justice Fund reveal that coordination between the Bureau, the Department of Homeland Security, and the financial sector began even before the first demonstrations by the Occupy movement.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE
Top Sustainable Investment Stories of 2012, Part 2
As growing numbers of corporate governance advocates call on the Securities and Exchange Commission to regulate disclosure of corporate political spending, Walden Asset Management leads a shareowner campaign for disclosure of lobbying expenditures; and Wal-Mart faces investor criticism following allegations of bribery in Mexico.
NEWS STORY:
SHAREOWNER ACTION | SUSTAINABLE INVESTMENT | MUTUAL FUNDS
Top Sustainable Investment Stories of 2012, Part 1
Assets allocated to sustainable investment continue to rise, with increasing amounts focusing on positive screening strategies; however, mainstream mutual funds continue to lag in supporting shareowner resolutions addressing climate change and corporate political spending.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES | WEAPONS MANUFACTURERS
Newtown Tragedy Galvanizes Debate on Corporate Responsibility
The UN-endorsed Guiding Principles on Business and Human Rights recommends that companies address adverse impacts with which they are involved, and Robert Zevin of Zevin Asset Management reminds investors of their historic role in effecting social change.
NEWS BRIEF:
SHAREOWNER ACTION | SOCIAL ISSUES | MEDIA COMPANIES
Shareowners Address Smoking in Films
Despite recent findings by the US Surgeon General that exposure to on-screen smoking causes children to smoke, depictions of tobacco use in youth-rated films continue to increase, prompting calls from investors for an R rating for films that depict smoking.
NEWS STORY:
SUSTAINABLE INVESTMENT | CARBON MANAGEMENT
Businesses Unprepared for Resource Scarcity
Carbon Trust surveys the CEOs of corporations in five countries and finds that most have not set targets for reducing their use of natural resources, with nearly half stating that to do so would cost too much.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE REPORTING
Corporate Laggards: Your Competitors are now Reporting
A report from the Governance & Accountability Institute finds that more than half of S&P 500 companies now produce sustainability reports, and most that do use the Global Reporting Initiative framework.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES
Largest Companies Setting Emissions Reduction Targets
A new report finds that most companies in the Fortune 100 and Global 100 now have greenhouse gas reduction goals, and more are committing to renewable energy use.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | OIL AND GAS INDUSTRY
Chevron Hits Sustainable Investors with Subpoenas over Ecuador
In its latest effort to avoid a $19 judgment for environmental damage in Ecuador, Chevron and Gibson, Dunn, & Crutcher, its law firm, have issued subpoenas to Trillium Asset Management and shareowner advocate Simon Billenness.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
EPA Finalizes Standards for Soot Pollution
The emissions standards for fine particle pollution, which could prevent up to 40,000 premature deaths by 2030, receives the usual objection of being anti-business from the US Chamber of Commerce.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | STOCK MARKET INDEXES
Major Stock Market Indexes can Elevate ESG Risk for Investors
A study by GMI Ratings analyzes the environmental, social, and corporate governance performance of major stock market indexes, and finds that most perform poorly against the research firm's normative distribution.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | FINANCIAL INDUSTRY
EU Nations Preparing a Financial Transaction Tax
A similar measure before the US Senate appears to be going nowhere, despite the fact that such a tax would discourage high frequency trading and encourage a long-term approach to investing.
NEWS BRIEF:
SHAREOWNER ACTION | POLITICAL SPENDING | MUTUAL FUNDS
Mutual Funds Slow to Engage on Political Spending
Despite growing attention to the risks for corporations, support by mutual funds for resolutions addressing political spending decreased in 2012.
NEWS STORY:
SHAREOWNER ACTION | FINANCIAL INDUSTRY | MUTUAL FUNDS
FairPensions Calls on UK Ethical Funds to Adopt Positive Screening and Increase Corporate Engagement
A survey of nineteen UK-based ethical funds finds that most continue to rely on negative screening of sin stocks, and few have committed to shareowner engagement with corporations.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | ENERGY INDUSTRY
Plan for Regulating Emissions from Existing Power Plants Proposed
The Natural Resources Defense Council states in an issues brief that state-specific standards from the Environmental Protection Agency could lead to a steep drop in emissions and significant cost savings.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | TOURISM INDUSTRY
US Winter Tourism Endangered by Climate Change
A report prepared for the Natural Resources Defense Council and Protect Our Winters warns that the winter tourism industry could disappear in regions of the US if greenhouse gas emissions continue to increase.
NEWS STORY:
ENVIRONMENTAL ISSUES | EMERGING MARKETS | INSTITUTIONAL INVESTORS
Institutional Investors Unprepared for Climate Change Impacts in South Africa
A report from WWF South Africa and SinCo outlines impacts that are expected to be worse in South Africa than elsewhere, and warns that the portfolios of institutional investors are failing to account for climate change and the impacts of an upcoming carbon tax.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | EMERGING ECONOMIES
Prospects Dim for Least Developed Nations at Climate Change Conference
Despite contributing little to climate change, the populations of the world's poorest countries face imminent loss and damage from its effects while developed economies plead poverty in delaying help.
NEWS BRIEF:
COMMUNITY INVESTMENT | FIXED-INCOME INVESTING
Community Capital Management Helps Fund Sandy Relief
The fixed income investment manager announces that through its CRA Qualified Investment Fund it will dedicate $100 million in assets toward investing in recovery from the hurricane.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | INSTITUTIONAL INVESTORS
Climate Financing Improves, but Falls Short of What is Needed
The Climate Policy Initiative identifies $364 billion in financing the transition to a low-carbon economy, but the amount falls far short of what is needed to keep global temperature increases below two degrees Celsius.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Global Emissions Continue to Rise
Carbon dioxide emissions reached a record high in 2011, a record which will be broken in 2012, and a report commissioned by the World Bank warns that adapting to a 4�C increase is by no means certain.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | POLITICAL EXPENDITURES
Growing Pressure on SEC to Regulate Corporate Political Spending
After a petition calling for rules mandating disclosure attracts unprecedented support, officials at the Securities and Exchange Commission acknowledge they are considering the issue.
NEWS STORY:
SOCIAL ISSUES | PHARMACEUTICAL INDUSTRY |EMERGING MARKETS
Pharmaceutical Firms are Improving Access of World's Poor to Medicine
The 2012 Access to Medicine Index finds that the pharmaceutical industry has improved its performance in delivering products to developing nations, but needs to improve lobbying transparency and oversight of clinical trials.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES
CEOs Want a Deficit Reduction Plan that Benefits Them
Eighty corporate CEOs join the Fix the Debt campaign, which calls for increased tax breaks for corporations while limiting social programs that help the poor and middle class.
NEWS BRIEF:
SHARREOWNER ACTION | CORPORATE REPORTING
SEC Chairman Schapiro to Step Down
As Chairman of the Securities and Exchange Commission since early 2009, Mary Schapiro dealt with the aftermath of the financial crisis and the implementation of new regulations mandated by Dodd-Frank.
NEWS STORY:
SUSTAINABLE INVESTMENT
US SIF Publishes Biennial Sustainable Investment Trends Report
The 2012 Trends Report notes a total of $3.74 trillion in assets allocated to sustainable investment, a 22% increase over a two-year period.
NEWS BRIEF:
COMMUNITY INVESTMENT | FIXED INCOME | EXCHANGE-TRADED FUNDS
Community Capital Management Invests over $4 Million on Behalf of Sustainable ETF
The Florida-based fixed income investment manager, one of the portfolio managers for the AdvisorShares Global Echo exchange-traded fund, invests in projects that promote job creation and provide housing for low- and moderate-income residents.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | INSTITUTIONAL INVESTORS
Investor Networks Urge Governments to Face Climate Change
With Hurricane Sandy behind us, and another international climate change conference coming up in Qatar, seven of the world's largest investor networks form the Global Investor Coalition on Climate Change and call for an investment-friendly approach to climate change.
NEWS STORY:
SHAREOWNER ACTION | HUMAN RIGHTS | INFORMATION TECHNOLOGY | SUPPLY CHAIN MANAGEMENT
Stakeholder Group Speaks Out on Challenge to Conflict Mineral Legislation
The multi-stakeholder group, comprised of corporations, sustainable investors, and nongovernmental organizations, pledges to work to eliminate human rights abuses from the conflict minerals trade in the Democratic Republic of the Congo.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | FOOD AND BEVERAGE INDUSTRY
Dole Hit with Lawsuit Alleging Environmental Destruction
The Seattle-based law firm Hagens Berman files a lawsuit against Dole for knowingly purchasing bananas from growers whose operations have destroyed wetlands and poisoned water sources with pesticides in Guatemala.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
Investors Urge Citigroup Board to Consider Breakup of Too Big to Fail Bank
Trillium Asset Management and AFSCME Employees Pension Plan file a shareowner resolution with Citigroup asking its board to explore a separation of one or more of its business units.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING | INSTITUTIONAL INVESTORS
Assets of PRI Signatories Exceed $32 Trillion
With 254 new signatories to the Principles for Responsible Investment, the number now exceeds 1,100, even as 61 former signatories are delisted.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | INSTITUTIONAL INVESTORS
2012 ESG Leaders Award Winners announced by TBLI Group
SJF Ventures, oekom research, and Hazel Henderson are among the recipients of awards for achievements in sustainable investment by institutional capital owners.
NEWS BRIEF:
CORPORATE GOVERNANCE | SUSTAINABLE INVESTMENT RESEARCH FIRMS
Quality Standard for ESG Research Launched
The Association for Responsible Investment Services re-launches the Responsible Investment Research Standard as ARISTA to increase awareness of the standard and to meet a growing demand for comparability among sustainable investment research firms.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | INSTITUTIONAL INVESTORS
College Endowments Urged to Divest Fossil Fuel Holdings
The Do the Math campaign from 350.org urges colleges and universities to restructure their endowments and divest their holdings in fossil fuel industries to make an impact on climate change.
NEWS BRIEF:
SOCIAL ISSUES | CORPORATE REPORTING | EXTRACTIVE INDUSTRIES
SEC Refuses to Delay Extractives Transparency Rule
The Commission tells industry trade association that rule governing disclosure of payments to governments will be implemented as scheduled, despite pending lawsuit challenging its validity.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Climate Change Action in Obama's Second Term?
After an election campaign during which climate change was barely mentioned, sustainable investors and other advocates hold out hope for effective action in the next four years.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | EMERGING MARKETS
Calvert Launches Emerging Markets Fund
The Calvert Emerging Markets Equity Fund uses the firm's environmental, social, and corporate governance criteria in determining the components of a portfolio investing in the fastest-growing segment of the global economy.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE REPORTING | POLITICAL EXPENDITURES
A Different Take on CSR Disclosure and Political Spending
A report from two University of California professors determines that political contributions by corporate managers, when viewed through the lens of corporate social responsibility disclosures, can lead to excess stock returns, especially in states that vote Democratic.
NEWS STORY:
SUSTAINABLE INVESTMENT | SHAREOWNER ACTION
For Sustainable Investors, Obama or Romney?
The candidates differ markedly on climate change, financial reform, and health care, issues on which sustainable investors have engaged with corporations for many years.
NEWS BRIEF:
CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
Senate Republicans Quash Findings on Wealth Inequality
After the Congressional Research Service issues a report finding no correlation between economic growth and lower tax rates for the wealthiest, Senate Republicans force its withdrawal to protect the party orthodoxy on taxes.
NEWS STORY:
CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
Romney Charged with Ethics Violation for Failing to Disclose Hedge Fund Investment
The Office of Government Ethics receives a complaint that by not revealing profits his family received from the Obama administration's auto industry bailout, Romney has failed to disclose a potential conflict of interest.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CORPORATE REPORTING | FINANCIAL INDUSTRY
US Banks Persist in Financing Climate Change
A report from BankTrack and the Rainforest Action Network urges financial institutions to measure and report on financed emissions, and recommends that they support expanded disclosure requirements being developed by the Greenhouse Gas Protocol.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE REPORTING | KEY PERFORMANCE INDICATORS
Initiative Will Help Quantify Corporate Reporting on Sustainability Issues
The Sustainability Accounting Standards Board will develop industry-specific key performance indicators for inclusion by companies in their annual financial reporting to the Securities and Exchange Commission.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | RENEWABLE ENERGY TECHNOLOGIES
With Expiration Looming, Groups Call for Extension of Production Tax Credit
The Investor Network on Climate Risk is the latest to write to Congressional leaders, urging them to support extending a tax credit that has helped wind energy become one of the nation's fastest growing manufacturing industries.
NEWS BRIEF:
SOCIAL ISSUES | HUMAN RIGHTS | FOOD INDUSTRY
Food and Agriculture Industry Lags in Assuring Worker Equity
A report by Sustainalytics and Tellus Institute describes workers' rights as less of a priority for companies in the sector than consumer health, environmental impact, and animal welfare.
NEWS BRIEF:
CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
Sanders Chides Corporate CEOs for Calling on Congress to Cut Programs
The Vermont Senator says that the statement by 80 CEOs fails to account for the role of financial institutions in causing the recession, and calls instead for a deficit reduction plan in which the wealthiest pay their fair share of taxes.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CORPORATE REPORTING | WATER
CDP Water Disclosure Issues 2012 Report on Corporate Water Use
For the first time, the initiative publishes a separate report focusing on water management by US companies, as the number of institutional investors requesting corporate disclosures on water increases to 470.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Oil Sands Producers Urged to Adopt Environmental and Social Performance Goals
A coalition of 49 investors with $2 trillion in assets call on newly formed association of producers to set specific goals for improving environmental and social performance.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | COAL INDUSTRY
As You Sow Updates Investment Risks Associated with Coal
Investors are warned that as the use of coal as a source of power output in the US declines and construction costs increase, the financial risks of investing in coal-dependent electric utilities are significant.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CORPORATE REPORTING
2012 Newsweek Green Rankings Published
With research provided by Sustainalytics and Trucost, this year's Green Rankings note a 20% improvement in companies disclosing environmental information.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | MEDIA COMPANIES
Independent Shareowners Want Murdoch out as Chairman of News Corp
Resolutions calling for separation of Chairperson and CEO, and end to dual-class stock structure, gain support of two-thirds of independent shareowners at media company's annual meeting.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Court in Ecuador Approves Seizure of Chevron Assets
Chevron says it will appeal decision clearing the way for seizure of $200 million of assets in Ecuador as payment toward a $19 billion judgment for environmental damage in the country.
NEWS BRIEF:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
Founder of New Hampshire Community Loan Fund Wins Responsible Finance Award
Juliana Eades, President and founding Executive Director of the New Hampshire Community Loan Fund, receives the fifth annual Ned Gramlich Award for Responsible Finance from Opportunity Finance Network.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | INSTITUTIONAL INVESTORS
Investors in UK Celebrate National Ethical Investment Week
A survey conducted for the occasion reveals that almost half of adults with investments want large pension plans to sign onto the UK Stewardship Code, and research from EIRIS finds $18 billion invested in green and ethical retail funds.
NEWS STORY:
SHAREOWNER ACTION | SUSTAINABLE INVESTMENT | EMERGING MARKETS
Project Promoting ESG Disclosure in Emerging Markets Issues Final Report
The Emerging Markets Disclosure Project notes that considerable improvements in ESG reporting have been driven by regulatory regimes such as sustainable stock exchanges, but calls for reliance upon standardized reporting to increase attractiveness of emerging markets for investors.
NEWS BRIEF:
SHAREOWNER ACTION | COMMUNITY INVESTMENT | FINANCIAL INDUSTRY
ICCR Ally Succeeds in Bank of America Engagement
Virginians Organized for Interfaith Community Engagement persuades Bank of America to help homeowners in Virginia county hit hard by mortgage crisis.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | EMERGING MARKETS
Resources Insufficient to Protect World's Poorest from Climate Change
The Climate Vulnerability Monitor warns that 100 million lives could be lost by 2030 if climate change and carbon-intensive energy practices are not addressed.
NEWS BRIEF:
SUSTAINABLE DEVELOPMENT | FINANCIAL INDUSTRY
BankTrack not Satisfied with new Draft of Equator Principles
While acknowledging that the new draft is an improvement, the Netherlands-based NGO finds insufficient commitments by signatory banks to transparency, human rights, and climate change mitigation.
NEWS STORY:
SUSTAINABLE INVESTMENT | EMERGING MARKETS
Assets Committed to Emerging Markets on the Increase
A new survey by EIRIS suggests that while sustainable stock exchanges increase investor confidence in emerging markets investment, poor corporate attention to environmental, social, and corporate governance issues remains a barrier.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
$18 Billion Judgment Against Chevron Stands
The US Supreme Court declines to hear Chevron's arguments for overturning the largest environmental judgment in history, leaving the company vulnerable to charges of securities law violations.
NEWS BRIEF:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
Three Community Development Financial Institutions Receive 2012 NEXT Awards
Primary Care Development Corporation will receive $4.25 million to expand beyond New York State, while Clearinghouse CDFI and the Corporation for Supportive Housing each receive awards of $2 million.
NEWS BRIEF:
SHAREOWNER ACTION | HUMAN RIGHTS
Investors Report on Campaign to Address Human Trafficking at London Olympics
A coalition of investors led by Christian Brothers Investment Services report that all but one of 33 corporations responded to its letter on the issue, and a number have taken concrete steps to address human trafficking.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | INSTITUTIONAL INVESTORS
Growth of Sustainable Investment in Europe Continues to Outpace the Overall Market
In its fifth biennial survey of sustainable investment in Europe, Eurosif identifies norms-based screening as the fastest-growing strategy, and urges improved communications to encourage greater uptake of sustainable investment by retail investors.
NEWS BRIEF:
SHAREOWNER ENGAGEMENT | CORPORATE GOVERNANCE
2012 Moskowitz Prize Awarded to Paper Linking Improved Corporate Performance with Successful Shareowner Engagement
Entitled Active Ownership, this year's winning paper analyzed shareowner engagements on environmental, social, and corporate governance issues, and found that successful engagement led to abnormal positive returns of 4.4%.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
Task Force Files Lawsuit against JPMorgan Chase
The Residential Mortgage-Backed Securities Working Group, a state-federal task force, announces its first legal action, charging the bank for fraudulent misrepresentations of mortgage�-backed securities by Bear Stearns & Co.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
Bank of America Settles Shareowner Lawsuit for $2.43 billion
The bank's 2008 acquisition of Merrill Lynch $20 billion preceded disclosure of $27.6 billion in losses, and led to lawsuit by pension funds charging the bank with making false or misleading statements.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Chevron Wants Access to Emails of Critics
The oil company's latest effort to avoid paying a $19 billion judgment for extensive environmental damage in Ecuador involves trying to gain access to the private email accounts of 101 people who have worked on the case.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | CORPORATE GOVERNANCE | STOCK INDEXES
GMI Licenses Research for Corporate Governance Indexes
The firm's agreement with the Global Index Group, which will create the first indexes focusing on corporate governance performance, is commended by governance advocate James McRitchie as a very important development for investors.
NEWS STORY:
SHAREOWNER ACTION | SOCIAL ISSUES | HUMAN RIGHTS
As Burma Sanctions Ease, Human Rights Advocates Urge Caution
Shareowner advocate Simon Billenness is preparing a draft of guidelines for corporations seeking to do business in Burma, and Nobel Peace Prize recipient Daw Aung San Suu Kyi urges corporate transparency to ensure that human rights are honored.
NEWS BRIEF:
SOCIAL ISSUES | HUMAN RIGHTS | EXTRACTIVES INDUSTRIES
Extractives Commitment to Human Rights Improving
But research from Oxfam America indicates that policies supporting Free, Prior, and Informed Consent must include a transition from resource extraction to development partnerships.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING | POLITICAL EXPENDITURES
Index of Corporate Political Spending Updated
The Center for Political Accountability and the Zicklin Center update their Index of Corporate Political Accountability and Disclosure, finding that voluntary disclosure of corporate political spending is becoming a mainstream practice.
NEWS BRIEF:
SOCIAL ISSUES | HUMAN RIGHTS
Is Self-Made Wealth a Myth?
United for a Fair Economy analyzes the Forbes 400 list of wealthiest Americans, finding that 40% inherited considerable wealth, while a quarter earned their wealth through investment.
NEWS STORY:
ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Shell Says Oil Spills from Corroded Pipes in Nigeria Due to Sabotage
Amnesty International and the Center for Environment, Human Rights and Development cite the assessment of experts that the latest in a series of oil spills in the Niger Delta was due to corrosion in poorly-maintained pipes owned by Shell.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | ESG RESEARCH FIRMS
Sustainalytics Partners with Chinese Consultancy Firm
The research partnership with SynTao will provide clients of the Netherlands-based firm with analysis of the ESG performance of Chinese companies.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | CARBON TRADING
China Joins with EU to Reduce Emissions
The European Union will help China reduce its greenhouse gas emissions by contributing $32.5 million for the development of Emissions Trading Systems.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | INSURANCE INDUSTRY
Insurers Unequipped to Deal with Climate Change
A report from Ceres warns that as payouts for extreme weather events increase to record levels, the insurance sector is falling behind other industries in returns on investment.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | RENEWABLE ENERGY TECHNOLOGIES
BICEP Members Call for Extension of Wind Credit
Nineteen companies in the Ceres-led Business for Innovative Climate and Energy Policy coalition say that Congressional extension of the tax credit for wind energy will improve competitiveness and create jobs.
NEWS STORY:
SHAREOWNER ACTION | FINANCIAL INDUSTRY
Occupy Movement Celebrates First Anniversary
Despite efforts to marginalize its accomplishments, the Occupy Movement has succeeded in keeping the issue of wealth inequality in the forefront of the national consciousness.
NEWS STORY:
ENVIRONMENTAL ISSUES | RENEWABLE ENERGY TECHNOLOGIES
US Solar Installations Set Records Despite Insufficient Government Action
The Solar Energy Industries Association reports that solar installations in the US totaled 742 megawatts in the second quarter of 2012, but Ernst & Young warns that policy gridlock prevents lawmakers from making the necessary long-term investment decisions.
NEWS BRIEF:
ENVRONMENTAL ISSUES | RENEWABLE ENERGY TECHNOLOGIES
House Passes No More Solyndras Act
Viewed by Democrats as nothing more than election-year grandstanding, the bill stands no chance of passing the Senate.
NEWS BRIEF:
SUSTAINABLE INVESTING | CORPORATE REPORTING | SUSTAINABLE STOCK INDEXES
SAM Updates Dow Jones Sustainability Indexes
Microsoft and Hewlett Packard are added to the DJSI World, but no US-based companies are included among the Index's 19 supersector leaders.
NEWS STORY:
ENVIRONMENTAL ISSUES | CORPORATE REPORTING | CARBON MANAGEMENT
CDP Releases Annual Reports on Corporate Carbon Management
Responding to more than half of the world's invested capital, large companies increasingly view climate change as a current business concern, but too little is being done at present to avert a climate crisis.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | CARBON TRADING SCHEMES
Panel Calls for Rescue of CDM
Despite its flaws, the Clean Development Mechanism remains the only international framework for funding renewable energy projects in developing nations, and meaningful emissions reduction targets will help enhance its effectiveness.
NEWS BRIEF:
SUSTAINABLE DEVELOPMENT | AGRICULTURAL INDUSTRY
Congress Unlikely to Pass 2012 Farm Bill in Time
As severe cuts in the food stamp program and assistance to farmers seem more likely, the responsibility for building a sustainable food supply falls to sustainable investors and other key stakeholders.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CORPORATE GOVERNANCE
GMI and Trucost Form Partnership
The strategic partnership provides for environmental research by Trucost to be incorporated into GMI's analysis of the corporate governance performance of companies.
INTERVIEW:
SUSTAINABLE DEVELOPMENT | CORPORATE REPORTING
Is Corporate Reporting Sufficient to Meet Sustainability Goals?
Mark McElroy of the Center for Sustainable Organizations argues that the absence of context for corporate sustainability measurements increases the likelihood that meaningful goals will not be met.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | CORPORATE REPORTING | FINANCIAL INDUSTRY
Opinions Differ on the Future of Sustainable Investing
Industry veterans weigh in on likely developments over the next twenty years, and their opinions range from optimism to concern.
NEWS BRIEF:
SOCIAL ISSUES | HUMAN RIGHTS | OIL AND GAS INDUSTRY
Lawsuit Alleging Human Rights Violations by Shell in Nigeria Reaches SCOTUS
In an issues brief, Professor John Ruggie wonders if Shell's efforts to undermine the Alien Tort Statute will undermine its claims of corporate social responsibility.
NEWS STORY:
SUSTAINABLE INVESTMENT | INSTITUTIONA INVESTORS
Muhammad Yunus, Father of Microcredit and Nobel Peace Prize Recipient, to Address SRI Conference
The founder of the Grameen Bank will be the keynote speaker at October's SRI Conference on Sustainable, Responsible, Impact Investing, which will also feature author Deepak Chopra and Robert F. Kennedy Jr. Second of a two-part series.
NEWS BRIEF:
SHAREOWNER ENGAGEMENT | INSTITUTIONAL INVESTORS
PRI Signatories Prioritize ESG Issues for Engagement
A survey of frequent users of the PRI Clearinghouse indicates that executive compensation, climate change, and labor standards in corporate supply chains will be the top areas of engagement for institutional investors during the coming year.
INTERVIEW:
COMMUNITY INVESTMENT | FINANCIAL INDUSTRY
Rebranded, the SRI Conference Heads East
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.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
New York City Codifies Climate Change Adaptation
The legislation, which will require the city's Climate Change Adaptation Task Force to update its assessment of the effects of climate change every three years, is the first ordinance from a US city to use latest climate science to develop adaptation strategies.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | AUTOMOBILE INDUSTRY
Fuel Efficiency Standards Finalized
The new fuel efficiency standards of 54.5 miles per gallon will nearly double the current standards, and could increase profitability while creating hundreds of thousands of new jobs.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE
CalSTRS Engages with Russell 2000 Companies on Majority Voting Standard
The pension fund's engagement with 95 companies during 2012 proxy season results in 86% of them either adopting the standard or making significant progress toward doing so.
NEWS BRIEF:
ENVIRONMENTAL ISSUES |RENEWABLE ENERGY TECHNOLOGIES
Treasury Bonds Issue Will Help Fund Clean Energy Deployment
The Clean Energy Victory Bonds Act would both provide for the sale of US Treasury Bonds to help finance clean energy technologies, and extend the federal Production Tax Credit for wind energy.
NEWS BRIEF:
SOCIAL ISSUES | INFORMATION TECHNOLOGY | CORPORATE SUPPLY CHAINS
Labor Conditions Improving at Chinese Supplier to Apple
The Fair Labor Association reports that Foxconn Technology Group, Apple's largest supplier, is ahead of schedule in meeting commitments such as higher wages and less mandatory overtime.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | HUMAN RIGHTS
Investors Call on EPA to Strengthen PVC Regulations
Arguing that proposed regulations do not go far enough to protect the health of communities, the investors request that national emission standards for the PVC industry provide better protection from cancer-causing pollutants.
NEWS STORY:
SOCIAL ISSUES | CORPORATE REPORTING | EXTRACTIVE INDUSTRIES
SEC Issues Rules on Conflict Minerals and Payments to Governments
Responses by sustainable investors and other stakeholders to payments to governments in resource-rich countries is generally positive, but concerns are voiced over provisions in the conflict minerals regulation. Second of a two-part series.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | COAL INDUSTRY
DC Appeals Court Strikes Down Another EPA Regulation
The Court decides that the Cross-State Air Pollution Rule exceeds the Environmental Protection Agency's statutory authority, but a dissenting opinion argues that the Court has trampled on precedent.
NEWS BRIEF:
SOCIAL ISSUES | CORPORATE REPORTING | EXTRACTIVE INDUSTRIES
SEC to Vote Today on Disclosure of Conflict Minerals
The Enough Project reports that reforms are underway as a result of Dodd-Frank legislation, but warns that further steps must be taken to prevent conflict minerals in the Congo from subsidizing armed conflict. First of a two-part series.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CORPORATE REPORTING | OIL AND GAS INDUSTRY
Sustainability Management by Oil Firms Lacking
A report from oekom, a German research firm, analyzes the sustainability performance of oil and gas companies, finding that as technological demands increase the management of risk is failing to keep up.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | INSTITUTIONAL INVESTORS
A Strategy for the Commons that Includes Business and Government
As national governments persist in pursuing narrow agendas rather than global action on climate change and sustainable development, other key stakeholders are recognizing that they must pressure corporations and governments into dialogue on the issues.
INTERVIEW:
SUSTAINABLE INVESTMENT | CORPORATE GOVERNANCE| EMERGING MARKETS
Emerging Markets ESG Updates Database of Contacts
SocialFunds.com talks with Geoffrey Mazullo, whose twenty years of involvement with environmental, social, and corporate governance issues in emerging markets have provided him with a wealth of data and contacts compiled in a unique resource.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | BRIBERY AND CORRUPTION
Pension Fund Wants Wal-Mart to Come Clean on Bribery Allegations
After receiving documents relating to allegations of bribery by the retail giant's Mexican subsidiary, the Indiana Electrical Workers Pension Trust Fund charges in a lawsuit that nearly half of the pages were blacked out.
NEWS BRIEF:
CORPORATE GOVERNANCE | FINANCIAL INDUSTRY | INSTITUTIONAL INVESTORS
Wells Fargo Settles Mortgage-Backed Securities Charges for $6.5 Million
The Securities and Exchange Commission charges the bank for selling investments tied to mortgage-backed securities without disclosing the risks to investors.
NEWS BRIEF:
SHAREOWNER ACTION | ENERGY INDUSTRY | RENEWABLE ENERGY
Investors Urge Extension of Production Tax Credits
The tax credits, which help drive billions per year in private investment in the wind energy industry, are set to expire this year, which could lead to the loss of 37,000 domestic jobs.
NEWS BRIEF:
COMMUNITY INVESTMENT | FINANCIAL INDUSTRY | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
A Record Amount of Dollars Awarded by CDFI Fund in 2012
Almost $187 million is awarded to 210 community development financial institutions that provide financial services to distressed communities that are often overlooked by mainstream financial institutions.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | FINANCIAL INDUSTRY | INSTITUTIONAL INVESTORS
Mercer to Incorporate ESG in Mainstream Client Reports
Citing a growing interest in environmental, social, and corporate governance from institutional investors, the consulting firm will include ESG factors in reports relating to fund manager search and performance.
NEWS BRIEF:
CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
Goldman Sachs Escapes Criminal Charges
Despite evidence of conflicts of interest detailed in last year's report by the Senate's Permanent Subcommittee on Investigations, the Justice Department announces that it will not bring a criminal prosecution against the bank.
NEWS STORY:
SHAREOWNER ACTION | FINANCIAL INDUSTRY | MEDIA COMPANIES
News Networks Ignore a Major Banking Scandal
The Interfaith Center on Corporate Responsibility writes to ABC and NBC, asserting that the networks have failed to cover the LIBOR rate-fixing scandal and its severe impacts on the poor and most vulnerable.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | POLITICAL EXPENDITURES | PHARMACEUTICAL INDUSTRY
Investors Take on Corporate Payments to Pharmaceutical Trade Association
Four major pharmaceutical companies may be undermining their profitability by membership in and payments to an industry trade association that contributed to candidates opposed to birth control.
NEWS BRIEF:
COMMUNITY INVESTMENT | CMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS | AGRICULTURE
How to Fund a Sustainable Food System
RSF Social Finance publishes a report on steps investors can take to help build a just and sustainable food system in the US.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | FOOD AND BEVERAGE INDUSTRY
Certified Coffee to be on Menu at Smucker's
A resolution from Calvert Investments and Trillium Asset Management, supported by 30% of shareowners in 2011, is withdrawn after Smucker's agrees to targets for purchases of certified coffee.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | MEDIA COMPANIES
Church of England Sells its Shares in News Corp.
A year of engagement following the phone hacking and bribery scandal has failed to produce a commitment by the media giant to improve its corporate governance, and the Church responds to the lack of progress with divestment.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | INFORMATION TECHNOLOGY
Facebook Publishes Carbon Footprint
For the first time, the social networking company has disclosed its greenhouse gas emissions, and announces a goal of using renewable energy sources for 25% of its power.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | INDIVIDUAL INVESTORS
Proxy Access Still Key to Changing Corporate Behavior
SocialFunds.com talks with James McRitchie of CorpGov.net about corporate governance shareowner proposals and the case for improved proxy access for individual investors.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | OIL AND GAS SECTOR
Despite SEC Guidance, Disclosures by Oil and Gas Companies Are Insufficient
A report from Ceres finds that ten of the largest companies in the oil and gas sector are failing to provide sufficient disclosures on climate change and deepwater drilling.
NEWS BRIEF:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
Finalists for 2012 Wells Fargo NEXT Awards Announced
Three community development financial institutions are named as finalists for $8.25 million award to expand affordable housing, health care, or community facilities in distressed markets.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | POLITICAL EXPENDITURES
Companies Challenged over Membership in ALEC and Heartland Institute
Walden Asset Management spearheads a letter-writing campaign by shareowners urging corporations tor review their memberships in the controversial organizations.
NEWS BRIEF:
CORPORATE REPORTING | FINANCIAL INDUSTRY | RETAIL INVESTORS
Eurosif Supports Sustainability Disclosures for Retail Investors
The European Commission proposes legislation that would require investment funds and other packaged retail investment products to disclose in key information documents whether they target sustainable outcomes.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | INSTITUTIONAL INVESTORS
Emphasis on Engagement Seconded by Mainstream
A report from Ernst & Young analyzing the 2012 proxy season agrees with observations by sustainable investment organizations that increased shareowner engagement represents the most dramatic development.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | INSTITUTIONAL INVESTORS
PRI Publishes Case Studies of Sustainable Investment
A report provides examples of sustainable investments by CalPERS and other signatories to the Principles for Responsible Investment, and argues for government policies to help mitigate the risks of such investments.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Greenland Ice Sheet Melt Unprecedented
NASA satellite measurements confirm that 97% of Greenland's ice sheet has melted this summer, far more than ever before recorded.
NEWS STORY:
SHAREOWNER ACTION | OIL AND GAS INDUSTRY
Concerns Voiced over Easing Burma Investment
An executive order lifting ban on investment in Burma allows US companies to enter the country's energy sector, raising concerns over lack of transparency and ties to the military.
NEWS BRIEF:
CORPORATE GOVERNANCE | INSTITUTIONAL INVESTORS
Institutional Investors: Part of the Problem or Part of the Solution?
Authors Ben Heineman and Stephen Davis argue in a working paper that many institutional investors lag behind corporations in transparency, and call for a national database on the behavior of institutions. Second of a two-part series.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | INSTITUTIONAL INVESTORS
What Good Are Shareowners?
An analysis published in the current Harvard Business Review argues that the rise of short-termism in the markets, and poor communications between management and shareowners, require engagement by diverse long-term stakeholders. First of a two-part series.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | MEDIA COMPANIES
Voting Rights Curtailed by Dual-Class Structure, News Corp. Shareowners Call for Reforms
Eighteen investors representing over $1.6 trillion in assets under management write to Rupert Murdoch, urging him to support a shareowner resolution calling for the separation of the positions of Chair and CEO.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | INSTITUTIONAL INVESTORS
College Endowments Lagging in Sustainable Investment
Once leaders in sustainable investment and shareowner advocacy, college and university endowments now lag behind many mainstream institutions in the uptake of environmental, social, and corporate governance investment criteria.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Pros and Cons of Australian Carbon Tax
Implemented on July 1st, Australia's carbon pricing scheme imposes a price of $23 per ton on carbon emissions. But some clean energy advocates argue that the policy does not go far enough.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | COMPUTER INDUSTRY
Apple Reverses Plan to Dump Green Registry
The computer giant reverses its decision to leave the Electronic Product Environmental Assessment Tool registry, calling it a mistake after consumer backlash.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | CORPORATE REPORTING
Sustainable Large Caps Outperform MSCI World Index
An analysis by oekom research finds that investment in corporations designated by it as Prime Portfolio Large Caps can yield returns more than double that of those listed on the MSCI World benchmark.
NEWS STORY:
SHAREOWNER ACTION | PROXY ACCESS | INSTITUTIONAL INVESTORS
ICCR and the Business Case for Sustainability
For the first time, members of the Interfaith Center on Corporate Responsibility engage in corporate dialogues more often than submit shareowner resolutions, reflecting the growing awareness of the business case for corporate sustainability measures. Second of a two-part series.
NEWS BRIEF:
CORPORATE REPORTING | STOCK EXCHANGES
NASDAQ to Promote Sustainability Disclosure
At Rio+20, the US-based stock exchange joins four counterparts in encouraging corporations to disclose environmental, social, and governance risks and opportunities.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES
Proxy Season Results Support Mainstreaming of ESG
This year's shareowner resolution tracker from Ceres notes that almost half of the environmental and social resolutions coordinated by the organization were withdrawn after successful engagement with companies. First of a two-part series.
NEWS BRIEF:
SHAREOWNER ACTION | PROXY ACCESS
Experiment in Proxy Access for Retail Investors to End
Citing persistent regulatory obstructions, Moxy Vote announces that it will cease operations on July 31st, ending a service to help individual investors vote their proxy ballots.
NEWS BRIEF:
SHAREOWNER ACTION | HUMAN RIGHTS | ARMS INDUSTRY
Investors Call for a Meaningful Arms Treaty
A coalition of 39 institutional signatories to the Principles for Responsible Investment issues a statement arguing that the absence of an Arms Trade Treaty affects investment by negatively impacting both the global economy and companies.
NEWS BRIEF:
SHAREOWNER ACTION | FOOD AND BEVERAGE INDUSTRY | PRODUCT SAFETY
Congressional Friends of GMOs Sneak Rider into Appropriations Bill
The rider will require that a permit for planting genetically engineered crops be issued even if a federal court orders that the planting be halted.
NEWS BRIEF:
SHAREOWNER ACTION | FOOD AND BEVERAGE INDUSTRY | PRODUCT SAFETY
Genetic Engineers Debunk GMO Claims
A report by Earth Open Source reveals that the claims of product safety and sufficient regulation made by producers of genetically modified organisms are false.
NEWS STORY:
SHAREOWNER ACTION | HUMAN RIGHTS | FINANCIAL INDUSTRY
A Guide to Economics for the 99%
The Center for Popular Economics publishes Economics for the 99%, a handbook which describes the roots of economic inequality and offers a solidarity economy as an alternative.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | INSTITUTIONAL INVESTORS
Investors Fear Canadian Budget Bill Weakens Environmental Regulations
Despite efforts by the Social Investment Organization, which warned that passage of an omnibus budget bill could discourage investment by providing for inadequate environmental regulation, the bill passes in a Senate dominated by conservatives.
NEWS STORY:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
Community Investment Options Increase but Barriers Remain
A report from US SIF details an increasing number of community investment options, but low awareness, perceptions of low returns and high risk, and increased regulatory scrutiny remain as barriers to a wider uptake of the practice.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | POLITICAL EXPENDITURES
Shareowners Await Support from Legislators and Regulators in Addressing Corporate Political Spending
As support for resolutions requesting disclosure of corporate political spending increases, efforts to address the issue on a macro level are stirring but are unlikely to affect 2012 elections.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE
Separating CEO and Chair Provides Financial Benefits
A report from GMI Ratings finds that companies with a combined CEO and chair pay far more compensation for the positions, are more likely to pursue aggressive accounting practices, and are twice as likely to receive a failing grade for environmental, social, and corporate governance performance.
NEWS BRIEF:
SHAREOWNER ACTION | HUMAN RIGHTS | FINANCIAL INDUSTRY
Genocide-Free Investing Resolution Wins Majority Vote
Investors Against Genocide's request that the ING Emerging Countries Fund refrain from investing in companies that provide funding to governments engaged in genocide is supported by over 59% of shareowners.
NEWS BRIEF:
HUMAN RIGHTS | HEALTHCARE REFORM
SCOTUS Upholds Obamacare
Members of the Interfaith Center on Corporate Responsibility applaud yesterday's Supreme Court decision to uphold the Patient Protection and Affordable Care Act.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | UTILITIES
Investors Urge Congressional Leaders to Support EPA Authority
A coalition led by Calvert urges leaders in both houses of Congress to oppose resolution that would prevent the Environmental Protection Agency from implementing Mercury and Air Toxics Standards for power plants.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | UTILITIES
Court Supports EPA Authority to Regulate Greenhouse Gases
An appeals court rules that the Environmental Protection Agency is authorized under the Clean Air Act to regulate emissions from new fossil fuel-fired power plants.
NEWS BRIEF:
SHAREOWNER ACTION | MEDIA COMPANIES | FOOD AND BEVERAGE INDUSTRY
ICCR Commends Disney on Advertising by Food and Beverage Companies
The media giant announces that food and beverage products advertised on its networks will be required to meet nutritional guidelines that are aligned with federal standards.
BOOK REVIEW:
ENVIRONMENTAL ISSUES | HUMAN RIGHTS | CORPORATE GOVERNANCE | OIL AND GAS INDUSTRY
Book Review: Private Empire: ExxonMobil and American Power, by Steve Coll
In a well-researched investigation into the inner workings of one of the world's largest and most powerful corporations, author Steve Coll details ExxonMobil's efforts to discredit climate science and extract resources in countries ruled by autocrats.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | SUSTAINABLE DEVELOPMENT | CORPORATE REPORTING
Rio+20 Ends without Binding Agreements
Sustainable investors who consider regulatory action to be essential are likely to be disappointed by the absence of agreements addressing climate change and corporate reporting.
NEWS STORY:
SUSTAINABLE DEVELOPMENT | CORPORATE REPORTING | FINANCIAL INSTITUTIONS
A Giant Leap Forward, or Unsustainable Business as Usual?
The Natural Capital Declaration, launched at Rio+20, aspires to properly value the environment in financial transactions, but at least one nongovernmental organization argues that the pricing of environmental assets is a fatally flawed solution.
NEWS STORY:
CORPORATE GOVERNANCE | FINANCIAL INSTITUTIONS
Get to Work, the Financial Stability Oversight Council Is Told
The newly-formed Systemic Risk Council observes that two years after Dodd-Frank, most of its financial reforms have yet to implemented, and urges the Financial Stability Oversight Council to prioritize the identification of systemically important nonbank financial institutions.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CORPORATE REPORTING | CARBON MANAGEMENT
UK Mandates Emissions Reporting for Public Companies
Deputy prime minister Nick Clegg is expected to announce at Rio+20 today that all 1,800 companies listed on the London Stock Exchange's Main Market will be required to report on greenhouse gas emissions.
NEWS BRIEF:
SUSTAINABLE DEVELOPMENT
Replacement for GDP Proposed at Rio+20
The Inclusive Wealth Index would provide a definition of wealth that encourages sustainable economic and social development.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CORPORATE REPORTING | WATER SCARCITY
Corporate Disclosure of Water Risks Should Include Quantitative Data
Ceres follows up on a 2010 study of corporate reporting on water risk with a new report that notes improvements, but says also that quantitative data and supply chain information is lacking.
NEWS BRIEF:
SUSTAINABLE DEVELOPMENT | SMALL BUSINESSES
Business Leaders Call for Sustainable Economic Recovery
Members of the American Sustainable Business Council visit the White House for a summit in which they describe a market that accounts for externalities and benefits all participants.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIIRONMENTAL ISSUES | CORPORATE REPORTING | OIL AND GAS INDUSTRY
Investors Call for Improved Management of Methane Emissions from Fracking
An international coalition of institutional investment organizations with more than $20 trillion in assets warn of the impacts of methane emissions on global warming, and issue a draft framework for improved corporate disclosure.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE REPORTING | POLITICAL SPENDING
Shareowners Vote on Resolution Asking Target to Refrain from Political Spending
Filed in the aftermath of a 2010 consumer boycott over a political donation by the retailer, the resolution wins enough support to reappear on next year's proxy ballot.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
Sanders Calls for End of Conflicts of Interest on Federal Reserve Boards
After introducing legislation prohibiting bank executives from serving on Federal Reserve boards, Sen. Sanders of Vermont names 18 Fed directors whose firms benefited from the bailout during the financial crisis.
NEWS BRIEF:
COMMUNITY INVESTMENT | FINANCIAL INDUSTRY | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
CDFIs Rebound from Financial Crisis
The National Community Investment Fund reports that 88 certified community development financial institutions earned a net income of $82 million in 2011, reversing a two-year decline.
NEWS BRIEF:
SOCIAL ISSUES | HUMAN RIGHTS | CHILD LABOR
Guidance for Corporate Respect for Children Is Published
Children are Everyone's Business, a workbook published by UNICEF, guides companies in the integration of children's rights into core business practices.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Behind the Scenes, Corporations Undermine Science-Based Climate Policy
The Union of Concerned Scientists reports that many US-based corporations engage in greenwashing by maintaining a public image of climate consciousness while secretly undermining climate science and policy.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | MUTUAL FUNDS
Proxy Voting on Climate Change by Mutual Funds Fails to Account for Materiality
An analysis by Ceres and Fund Votes of 2011 proxy voting reveals that the three largest mutual funds failed to vote in favor of a single climate-related resolution.
NEWS BRIEF:
COMMUNITY INVESTMENT | EMERGING MARKETS
Fund Seeks to Improve the Lives of East African Farmers
The Global Impact Investing Network publishes a case study of the African Agricultural Capital Fund, which invests in environmentally sustainable agriculture projects to benefit the rural poor in sub-Saharan Africa.
NEWS STORY:
SUSTAINABLE INVESTMENT | EMERGING MARKETS
Time for Investment in Africa Is Now
The second annual Ernst & Young survey of investment in Africa finds a distinct perception gap between the overwhelmingly positive responses of investors already doing business in Africa, and the possibly outmoded views of those who do not.
NEWS BRIEF:
COMMUNITY INVESTMENT| FINANCIAL INDUSTRY
Advocates for a Fair Economy Call for End to Payday Lending by Banks
A coalition including several sustainable investment organizations ask federal regulators to investigate banks offering payday lending, which can trap low-income borrowers into a cycle of debt with interest rates as high as 417%.
NEWS BRIEF:
SHAREOWNER ACTION | POLITICAL EXPENDITURES | OIL AND GAS INDUSTRY
Shareowners to Vote on Lobbying by Energy Companies
Resolutions submitted by Walden Asset Management at Devon Energy and Chesapeake Energy call for disclosure of corporate lobbying expenditures.
NEWS BRIEF:
SHAREOWNER ACTION | TELECOMMUNICATIONS INDUSTRY
Zevin Asset Management Calls for Net Neutrality at Wireless Firms
The Boston-based investment firm writes to AT&T and Verizon, asking them to ensure that net neutrality is maintained and that the wireless providers refrain from imposing discriminatory fee structures.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CORPORATE REPORTING
Investors Urge Corporations to Consider Physical Impacts of Climate Change
A new report notes improved corporate reporting on greenhouse gas emissions emerging from SEC guidance, but calls for improved management and disclosure of extreme weather events and other physical risks.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | OIL AND GAS INDUSTRY
Shareowners Voice Support for Environmental and Governance Resolutions at Chevron
A call for the separation of the positions of CEO and Board Chair gains more than 38% of shareowner support, while 27% vote in favor of improved disclosure of risks associated with hydraulic fracturing.
NEWS BRIEF:
SHAREOWNER ACTION | SUSTAINABLE DEVELOPMENT | CORPORATE REPORTING
Add Corporate Social Responsibility to Rio+20, Stakeholders Say
The Dialogue on a Convention on Corporate Social Responsibility and Accountability proposes a global policy framework requiring companies to embed sustainability into their operations and report on their efforts.
NEWS BRIEF:
SUSTAINABLE DEVELOPMENT | CARBON MANAGEMENT
Clean Energy Initiatives on the Increase in Many States
The third annual State Clean Energy Index from Clean Edge ranks California first among states in its adoption of such indicators as electricity generation from renewable sources and deployment of hybrid and all-electric vehicles.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Investors Write to Chevron Again
Led by the New York State Common Retirement Fund, a coalition of 40 institutional investors with $580 billion in assets under management calls on Chevron to end its legal wrangling over an $18 billion judgment against it for environmental damage in Ecuador.
NEWS BRIEF:
SUSTAINABLE DEVELOPMENT | CORPORATE REPORTING |
More Stakeholders Call for Meaningful Action at Rio+20
The International Institute for Environment and Development outlines a three-point plan to ensure that government negotiators account for the needs of local communities through sufficient aid and realistic valuation of natural capital.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS COMPANIES
Investors Warned to Question Shell's Plans for Arctic
Citing the likelihood that control of a spill in ice-covered waters will fail, and outlining Shell's poor track record in the Russian Far East, Greenpeace advises investors to ask hard questions about the risks to the company's financial health.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS COMPANIES | HYDRAULIC FRACTURING
A Trillion Dollar Call for Best Practices in Fracking Operations
Fifty-five institutional investment organizations representing $1 trillion in assets under management call for adoption of best practices by oil and gas companies engaged in hydraulic fracturing.
NEWS BRIEF:
SUSTAINABLE DEVELOPMENT | CORPORATE REPORTING | CARBON MANAGEMENT
Concerns Grow over Slow Pace of Sustainable Development
The World Business Council for Sustainable Development publishes a report in advance of next month's Rio+20 Conference, warning that a radical adaptation in the use of natural capital is required.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Shareowners Ask SEC to Investigate Chevron
Three sustainable investment organizations say that the company's management appears to be covering up the risks associated with an $18 billion legal judgment against it for environmental damage in Ecuador. Second of a two-part series.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | EXECUTIVE COMPENSATION | OIL AND GAS INDUSTRY
Two-thirds of Cairn Energy Shareowners Reject Say-on-Pay Proposal
The vote at the UK-based energy exploration company comes after Business Secretary Vince Cable proposes that shareowner votes on executive compensation be binding.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Is Chevron in Violation of Securities Law?
New reports on Chevron's liabilities relating to environmental damages in Ecuador assert that while the company's legal options have narrowed significantly, its public filings repeat the same arguments made in 2008. First of a two-part series.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
JP Morgan Chase Holds Annual Meeting Days After $2 Billion Loss
A resolution calling for improved corporate governance through separating the roles of Chair and CEO gains 40% of shareowner support.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | INSTITUTIONAL INVESTORS
Race Between Sustainability and Over-Consumption Continues
The third annual MIT survey of corporate executives suggests that sustainability is increasingly a management agenda item, while a report from WWF finds that global consumption patterns are still unsustainable.
NEWS STORY:
SHAREOWNER ACTION | INSTITUTIONAL INVESTORS
ICCR Responds to Vatican Investigation of US Nuns
The all-male Church hierarchy apparently wants less social justice work by women religious in the US, and more outspoken opposition to homosexuality, abortion, and women's ordination.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | WATER SCARCITY
Water Use in Many Large Economies Is Unsustainable
China, India, and the US contain regions of extreme risk due to water scarcity, threatening global commodities prices and even increasing the possibility of social unrest.
NEWS STORY:
SHAREOWNER ACTIVISM | CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
Shareowners Renew Call for Improved Governance at JPMorgan Chase
After the bank reports $2 billion in losses on risky trading, the American Federation of State, County & Municipal Employees calls for the appointment of an independent Chair, stating that the stakes are too high to leave CEO Jamie Dimon unsupervised.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | EMERGING MARKETS
UNDP Reports on Outlook for Sustainable Development in Asia-Pacific
Exploring both widespread poverty and the impacts of climate change on the region, the report warns that the private sector and other stakeholders must act in order to galvanize government action.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | POLITICAL EXPENDITURES
Political Spending Proposal at CVS Caremark Goes to Vote Tomorrow
For the sixth year, shareowners will vote on a proposal from Green Century Capital Management, requesting disclosure of direct and indirect political spending by the company.
NEWS BRIEF:
SHAREOWNER ACTION | HUMAN RIGHTS | HUMAN TRAFFICKING
Investors Call for Steps to Eliminate Sex Trafficking at London Olympics
ICCR members and other investors write to airlines, hotel chains, and corporate sponsors of the Games, and launch website to encourage public involvement in ending human sex trafficking.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | OIL AND GAS INDUSTRY
Chesapeake Energy Agrees to Separation of Chair and CEO
The controversial oil and gas company agrees to a key corporate governance reform after widespread criticism of an arrangement allowing CEO Aubrey McClendon to borrow more than a billion dollars from its treasury.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE REPORTING | OCCUPATIONAL HEALTH AND SAFETY
Shareowner Group Details Occupational Health and Safety Issues for Investors
The Shareholder Association for Research and Education issues investor guidance for assessing the health and safety policies and practices of Canadian corporations.
NEWS STORY:
SUSTAINABLE INVESTMENT | INSTITUTIONAL INVESTORS
Sustainable Investment by Pension Funds Total Less than One Percent of Assets
Despite the necessity of a low-carbon economy and the opportunities for investment in the transition, efforts by governments and institutional investors remain inadequate. Second of a two-part series.
NEWS BRIEF:
SUSTAINABLE DEVELOPMENT | CORPORATE REPORTING
EIRIS Reports on Sustainability Practices of Largest Global Companies
Companies in the US and Asia lag behind their peers in Europe, while significant differences persist among corporate approaches to sustainability.
NEWS STORY:
SUSTAINABLE INVESTMENT | SHAREOWNER ACTION | CORPORATE GOVERNANCE
Clock Is Ticking While Corporate Sustainability Lags
A report from Ceres and Sustainalytics identifies a small number of US corporations leading sustainability efforts, but more decisive action is required to embed sustainability by 2020. First of a two-part series.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | FINANCIAL INSTITUTIONS
US Banks Receive Failing Grades for Financing Coal
While most of the nation's largest banks have publicly stated commitments addressing mountaintop removal coal mining and coal-fired power generation, the financing of such projects continues.
NEWS BRIEF:
SUSTAINABLE DEVELOPMENT | CORPORATE REPORTING | FINANCIAL INSTITUTIONS
UKSIF Endorses Key Investor Initiatives for Rio+20
The Natural Capital Declaration commits financial institutions to integrating environmental considerations into their products and services, while the Corporate Sustainability Reporting Coalition seeks a convention on corporate reporting.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | POLITICAL EXPENDITURES
Corporate Political Spending: Why Do they Do It?
With six months to go before election, corporations can still spend freely and in relative secrecy, and do so, despite numerous studies associating political spending with lower returns.
NEWS STORY:
SHAREOWNER ACTION | FINANCIAL INDUSTRY | EXECUTIVE COMPENSATION
Power of the Proxy Confirmed at Citigroup
In the aftermath of the shareowner vote against Citigroup's executive compensation package, Mark Regier of Everence Financial talks with SocialFunds.com about the evolution of say-on-pay.
NEWS BRIEF:
SHAREOWNER ACTION | OIL AND GAS COMPANIES | HYDRAULIC FRACTURING
Retail Investors Invited to Discussion on Fracking
Moxy Vote provides a forum for individual investors to vote their proxies, and invites them to weigh in on hydraulic fracturing resolutions at Chevron and Exxon Mobil.
NEWS BRIEF:
SHAREOWNER ACTION | SOCIAL ISSUES | CORPORATE GOVERNANCE | BRIBERY AND CORRUPTION
Investors Speak Out on Wal-Mart Bribery Allegations
Members of the Interfaith Center on Corporate Responsibility, who have been engaging with the retail giant on social issues for decades, express their dismay over allegations of bribery and subsequent efforts to impede an investigation.
NEWS BRIEF:
SOCIAL ISSUES | CORPORATE GOVERNANCE | BRIBERY AND CORRUPTION
Wal-Mart Gets ESG Rating of F After Bribery Allegations
GovernanceMetrics International assigns a failing grade to the retail giant's environmental, social, and corporate governance performance following revelations that information about a bribery scandal in Mexico was covered up.
NEWS BRIEF:
SHAREOWNER ACTION | OIL AND GAS INDUSTRY | HYDRAULIC FRACTURING
EPA Finalizes Rules on Emissions from Fracking
Drillers of new wells that use hydraulic fracturing to access natural gas resources have until 2015 to employ green completions to capture methane and other chemicals before they are released into the environment.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | FINANCIAL INDUSTRY | EXCHANGE-TRADED FUNDS
New Exchange Traded Fund Will Support Sustainability Themes
A portion of the assets of AdvisorShares Global Echo ETF will support the Global Echo Foundation, a charitable foundation co-founded by Philippe Cousteau.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | MEDIA INDUSTRY
Eurosif Outlines ESG Risks to Media Companies
The fast-changing media sector faces risks associated with trust, freedom of expression, and diversity, and a report cites examples of best practice in an environment dominated by the News Corporation's phone hacking scandal.
NEWS STORY:
COMMUNITY INVESTMENT | EMERGING MARKETS
Shared Interest to Reach More Low-Income South Africans
The investment fund's Campaign for the Next Generation seeks to provide opportunities for an additional 500,000 low-income South Africans, while reforming the practice of mainstream banking.
NEWS BRIEF:
SHAREOWNER ACTION | EXECUTIVE COMPENSATION | FINANCIAL INDUSTRY
Shareowners Vote Down Citigroup Pay Package
Fifty-five percent of Citigroup's shareowners vote against the executive compensation package proposed by management, marking the first time that shareowners have done so at a big bank.
NEWS BRIEF:
SHAREOWNER ACTION | MINING INDUSTRY
Investors Challenge Goldcorp's Closing Costs for Guatemala Mine
Two institutional investors warn that Goldcorp faces litigation risks if its plan for funding the environmental cleanup of its mine in Guatemala is inadequate.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING | POLITICAL EXPENDITURES
Investors Take on ALEC in Aftermath of Trayvon Martin Killing
Tim Smith of Walden Asset Management writes to investors, stating that corporations associated with the American Legislative Exchange Council face reputational risks and should review their funding of the controversial organization.
NEWS BRIEF:
SHAREOWNER ACTION | HUMAN RIGHTS | FINANCIAL INDUSTRY
JPMorgan Chase Faces Investing in Genocide Resolution
For the second year, Investors Against Genocide submits shareowner proposal addressing JPMorgan Chase's extensive holdings in PetroChina, a corporate contributor to genocide in Sudan.
NEWS BRIEF:
SHAREOWNER ACTION | SOCIAL ISSUES | SUPPLY CHAIN MANAGEMENT
Companies Advised to Address Risks in Supply Chains
A Procurement Report from Eurosif establishes the business case for addressing environmental and social risks in corporate supply chains, and recommends that investors assess the exposure of companies in their portfolios.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | INSTITUTIONAL INVESTORS
SEC Reconvenes Investor Advisory Committee
The Committee, which was formed in 2009 and terminated after passage of the Dodd-Frank bill, again includes representatives of the sustainable investment industry.
NEWS STORY:
SUSTAINABLE INVESTMENT | CORPORATE REPORTING | RENEWABLE ENERGY TECHNOLOGIES
Solar Industry Maturing Despite Lack of Subsidies
A report from As You Sow details examples of best practice in environmental, social, and corporate governance considerations by solar companies, and provides a benchmark for investors to track sustainable developments in the industry.
NEWS BRIEF:
SHAREOWNER ACTION | SOCIAL ISSUES | TELECOMMUNICATIONS INDUSTRY
Trillium Urges Verizon Shareowners to Support Net Neutrality
A letter sent to shareowners by the investment management firm outlines the economic and social case for continued net neutrality at the wireless telecommunications company
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | FINANCIAL INDUSTRIES
Shareowner Advocates Disappointed by Goldman's Choice for Lead Independent Director
The American Federation of State, County & Municipal Employees withdraws resolution calling for separation of Chair and CEO at Goldman Sachs, then expresses disappointment at the firm's choice for lead independent director.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CORPORATE REPORTING | OIL AND GAS INDUSTRY
Regulatory Path Cleared for Fracking Resolution at Exxon
The Securities and Exchange Commission overrules challenge by ExxonMobil to hydraulic fracturing resolution submitted by As You Sow.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE
Listen to Investors, Ernst & Young Tells Corporate Boards
A white paper from the consulting firm anticipates that shareowner support for environmental and social resolutions will continue to grow, and that boards should take concrete steps to ensure that the perspectives of investors are considered.
NEWS BRIEF:
CORPORATE REPORTING | FINANCIAL INDUSTRY
Academics Propose Agency to Regulate Financial Products
Eric Posner and Glen Weyl of the University of Chicago state that a Financial Products Administration would be the Food and Drug Administration of financial derivatives.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | MEDIA COMPANIES
Shareowner Resolution Calls for Independent Board Chair at News Corporation
Christian Brothers Investment Services resubmits proposal introduced at the media giant's annual meeting last October, citing the company's inaction in implementing reforms in the wake of phone hacking scandal.
NEWS BRIEF:
CORPORATE REPORTING | CARBON MANAGEMENT | GREEN JOBS
Green Jobs Topped Three Million in 2010
In its first-ever tally of green jobs, the US Bureau of Labor Statistics counts 3.1 million jobs in businesses that benefit the environment or conserve natural resources.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | CORPORATE REPORTING | INSTITUTIONAL INVESTORS
Sustainable Investment Forums to Produce Global Trends Report
The report, scheduled for December, will be the first to assess environmental, social, and corporate governance (ESG) investment strategies across jurisdictions; a global website is also planned.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE REPORTING | FOOD SAFETY
Monsanto Is Green America's Biggest Corporate Fool
The agribusiness giant triumphs over the US Chamber of Commerce and Chevron for manufacturing genetically modified organisms and a corporate legacy that includes Agent Orange and DDT.
NEWS STORY:
SOCIAL ISSUES | HUMAN RIGHTS | INFORMATION TECHNOLOGY
Apple Moves from Laggard to Sector Leader on Transparency
The computer giant agrees to implement remedial action recommended by the Fair Labor Association's investigation of working conditions at Foxconn factories in China.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | UTILITIES
EPA Proposes Carbon Pollution Standard for New Power Plants
The standard, which will be the first to limit emissions from the largest individual sources of carbon pollution in the US, will not be applied to existing plants or those to be built in the next 12 months.
NEWS BRIEF:
COMMUNITY INVESTMENT | CORPORATE REPORTING | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
$1 Million Grant to Automate Reporting by Community Development Financial Institutions
The grant from Citi Foundation will help the CDFI Assessment and Ratings System automate its financial performance data collection system for community development financial institutions.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | FINANCIAL INDUSTRY | PRIVATE EQUITY
Private Equity Increases Sustainability Focus
Programs encouraging the uptake of environmental, social, and corporate governance considerations by private equity firms include the Environmental Defense Fund's Green Returns initiative.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Shell Heads for the Arctic
While the company contends with activist nongovernmental organizations such as Greenpeace, it remains unclear if sustainable investors are engaging with it on the potential cost of an oil spill cleanup.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | MINING INDUSTRY
RepRisk Names World's Most Controversial Mining Companies
Alpha Natural Resources, the parent company of Massey Energy, ranks first on RepRisk's list, which highlights the consequences of environmental, social and governance risks on corporate reputations, access to capital, and licenses to operate.
NEWS STORY:
CORPORATE GOVERNANCE | POLITICAL EXPENDITURES | INSTITUTIONAL INVESTORS
Corporate Governance Advocates Take on Political Spending and Contracts with Managers
The International Corporate Governance Network publishes a statement on corporate political spending and a model mandate for contracts between asset owners and managers.
NEWS BRIEF:
SHAREOWNER ACTION | WATER SCARCITY | INSTITUTIONAL INVESTORS
Investors Observe World Water Day 2012 with Focus on Land Grabs
The focus of this year's World Water Day is on water and food security, and the Interfaith Center on Corporate Responsibility launches a campaign to educate institutional investors on the impacts of large acquisitions of farmland in the global South.
NEWS STORY:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
Climate Change Imperils Coastal Cities in US
In a new report, Climate Central finds that millions of US residents are at risk from rising sea levels and increasing numbers of storm surges.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | CORPORATE REPORTING
Ethisphere Awards 145 Companies for Ethical Performance
The annual World's Most Ethical Companies Rankings include 23 companies that have been honored in each of the six years of the award.
NEWS BRIEF:
SHAREOWNER ACTION | CORPROATE GOVERNANCE | PROXY ACCESS
New York City Pension Funds File Corporate Governance Resolutions at 13 Companies
Shareowners request that Chesapeake Energy and Nabors Industries permit proxy access, and additional resolutions address board declassification, an independent board chair, and a majority voting standard.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE REPORTING
PRI Signatories Challenge 29 Corporations to Meet Their Obligations to Report
The companies are members of the UN Global Compact but have failed to submit an annual Communication on Progress as required.
NEWS STORY:
ENVIRONMENTAL ISSUES | RENEWABLE ENERGY TECHNOLOGIES
2011 Sees Record Installations for Wind and Solar
Clean Edge's 2012 trends report forecasts that the expansion of renewable technologies, which successfully weathered the economic downturn, will continue through 2021.
NEWS BRIEF:
COMMUNITY INVESTMENT | MICROFINANCE
Initiative of Calvert Foundation Seeks to Invest in Women
A $1 million grant from the Citi Foundation launches the Calvert Foundation's Women Investing in Women Initiative, which seeks to raise $20 million for economic opportunities for women.
INTERVIEW:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
Occupy Movement Focuses on Volcker Rule
Financial professionals form the Occupy the SEC movement and submit a 325-page comment letter to the SEC, calling for effective regulation of proprietary trading by banks.
NEWS BRIEF:
CORPORATE REPORTING | INTEGRATED REPORTING
Momentum Grows for Integrated Reporting
With the Rio+20 Conference on Sustainable Development three months away, numerous voices speak out on the need for governments to mandate sustainability reporting by large companies.
NEWS BRIEF:
SOCIAL ISSUES | HUMAN RIGHTS | CHILDREN
Business is Encouraged to Uphold Children's Rights
The Children's Rights and Business Principles call on companies to expand their commitment beyond child labor and develop policies and due diligence to actively ensure that the rights of children are respected.
NEWS BRIEF:
COMMUNITY INVESTMENT | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
SJF Ventures Announces Initial Closing of Impact Investment Fund
Capitalized entirely by private investment, the $75 million SJF Ventures III fund will target growth-stage cleantech companies with positive impacts on low-to-moderate income communities.
NEWS STORY:
SHAREOWNER ACTION | OIL AND GAS INDUSTRY | HYDRAULIC FRACTURING
Investors Continue Pressure for Fracking Disclosure
Two guides for investors and companies engaged in hydraulic fracturing have been published in recent months, and four of ten shareowner resolutions calling for increased disclosure of risks have been withdrawn.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | BOARD DIVERSITY
Representation of Women on Boards Tops Ten Percent for First Time
GovernanceMetrics International's annual report on gender diversity on corporate boards finds incremental improvements, but also that marked disparities persist between industrialized and emerging economies.
NEWS STORY:
SOCIAL ISSUES | NUCLEAR WEAPONS INDUSTRY | FINANCIAL INSTITUTIONS
Study Identifies Financial Institutions Investing in Nuclear Weapons
The International Campaign to Abolish Nuclear Weapons names 322 financial institutions from 30 countries with substantial investments in the $100 billion-a-year nuclear weapons industry.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | UTILITIES
Benefits of Large-Scale Low-Carbon Transition Will Take a While
The authors of a new study find that even a rapid transition to clean energy will not produce climate benefits until the second half of this century, while converting coal to natural gas will have little positive effect.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | INSURANCE INDUSTRY
Reinsurers Call for National Climate Policy
After a year in which losses due to extreme weather events totaled $44 billion, representatives of the reinsurance industry call on US policymakers to acknowledge the reality of climate change and take action on a national policy.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CORPORATE REPORTING | CARBON MANAGEMENT
EPA and Partners Announce Recipients of First Climate Leadership Awards
Companies are recognized for greenhouse gas management through goal setting and achievement, supply chain leadership, and overall organizational leadership.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | MEDIA INDUSTRY
James Murdoch Steps Down at News International
Christian Brothers Investment Services welcomes the move as a small first step, but calls for additional corporate governance reforms at the media giant.
NEWS STORY:
SUSTAINABLE DEVELOPMENT | CORPORATE REPORTING
On a Bumpy Road Toward the Sustainable World
A morning's reading ranges from Davos to ESG metrics, and the prevailing message is that improved collaboration among all stakeholders is necessary to rescue the world from an unsustainable future.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE REPORTING
As You Sow Publishes Proxy Preview
The report notes an exponential increase in resolutions addressing the various forms of corporate political spending, while the community impacts of hydraulic fracturing and financial risks associated with coal lead environmental resolutions.
INTERVIEW:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | CORPORATE REPORTING
Zevin Asset Management Grows into a Corporate Engagement Powerhouse
The Boston-based investment manager, with $335 million in assets under management, has co-filed 14 shareowner resolutions for the 2012 proxy season.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE REPORTING | HUMAN RIGHTS | OIL AND GAS INDUSTRY
Investors Write to Chevron on Country Selection
Following an unproductive meeting with Chevron on its operations in Burma, shareowners make public a letter in which they request transparency in the company's country selection criteria.
NEWS STORY:
SUSTAINABLE INVESTMENT | INSTITUTIONAL INVESTORS
Lydenberg's Argument for Reasonable Investment Wins IRRC Award
Steven Lydenberg, Chief Investment Officer of Domini Social Investments, wins the first Post-Modern Portfolio Theory award from the IRRC Institute for his paper espousing reasonable, rather than merely rational, investment.
NEWS BRIEF:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | MINING INDUSTRY
Advisory Warns Investors of Risks of Proposed Copper and Gold Mine in Alaska
Citing community opposition, unprecedented infrastructure requirements, and environmental risks, Earthworks questions whether the mine, located in the Bristol Bay area, will ever be built.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CORPORATE REPORTING | CARBON MANAGEMENT
Investors Urge Large Corporations to Move Beyond Reporting and Take Carbon Action
The Carbon Action initiative of the Carbon Disclosure Project, launched last year on behalf of 34 institutional investors, now has 92 signatories with more than $10 trillion in assets under management.
NEWS STORY:
SUSTAINABLE INVESTMENT | CORPORATE REPORTING | INSTITUTIONAL INVESTORS
Generation Investment Management Calls for Sustainable Capitalism by 2020
The firm expands upon a manifesto written by co-founders Al Gore and David Blood and calls for mandatory integrated reporting and the pricing of externalities, an end to quarterly earnings guidance, and loyalty-drive securities for long-term investors.
NEWS STORY:
SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | CORPORATE REPORTING
Resolutions or Engagement? Ceres Prepares for Proxy Season by Using Proxy Ballot to Encourage Change
SocialFunds.com talks with Rob Berridge of Ceres about the organization's past success and its plans for driving change in the stewardship of the environment through shareowner resolutions.
NEWS BRIEF:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | PROXY ACCESS
HP Agrees to Proxy Access
The computer giant agrees to allow institutional investors meeting ownership thresholds to nominate candidates for its Board of Directors.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT
US Joins in Launch of Initiative to Reduce Short-Lived Climate Pollutants
The Climate and Clean Air Coalition, a partnership of the UN Environment Program and six countries, seeks to encourage reductions in methane, black carbon, and ozone that could reduce global warming and avoid millions of premature deaths.
NEWS BRIEF:
COMMUNITY INVESTMENT | MICROFINANCE | EMERGING MARKETS
Principles for Investors in Inclusive Finance Publishes Compendium of Case Studies
The Principles for Investors in Inclusive Finance wraps up its first year with case studies designed to help provide sustainable financial products and services to the world's poor.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | FINANCIAL INDUSTRY | INSTITUTIONAL INVESTORS
Only 9% of Fund Managers Incorporate ESG Factors
Mercer's evaluation of environmental, social, and corporate governance uptake by fund managers reveals that there is considerable room for improvement in how they communicate ESG integration to investors.
INTERVIEW:
SHAREOWNER ACTION | SOCIAL ISSUES | INSTITUTIONAL INVESTORS
ICCR Focuses on Dialogues More than Resolutions in Corporate Engagement
SocialFunds.com talks with Laura Berry about the Interfaith Center on Corporate Responsibility's shift in emphasis from filing shareowner resolutions to corporate engagement through dialogues.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CORPORATE REPORTING | DEFORESTATION
Corporate Disclosure of Forest Footprints Is Improving
The Forest Footprint Disclosure Project publishes its third annual survey of voluntary corporate disclosure of risks and opportunities associated with forest risk commodities.
NEWS BRIEF:
CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
House Republicans Gut Key Provision of STOCK Act
House Majority Leader Eric Cantor strips provision requiring political intelligence consultants to register as lobbyists from version of bill passed by Senate.
NEWS BRIEF:
SHAREOWNER ACTION | OIL AND GAS COMPANIES | HYDRAULIC FRACTURING
Shareowners Continue Campaign for Disclosure of Risks Associated with Fracking
Ten shareowner resolutions addressing hydraulic fracturing have been filed thus far for the 2012 proxy season, and proponents for improved disclosure look to improve upon last year's 40% vote in support.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | CARBON MANAGEMENT | INFORMATION TECHNOLOGY
Google Tops Greenpeace International's Cool IT Leaderboard
The Internet giant is cited in Greenpeace's fifth ranking of information technology companies for its commitment to renewable energy and its public advocacy for clean energy policies.
NEWS STORY:
SHAREOWNER ACTION | CORPORATE GOVERNANCE | INFORMATION TECHNOLOGY
CalSTRS to Facebook: More Women on Board
The pension fund's Director of Corporate Governance writes to Mark Zuckerberg, expressing disappointment in the lack of diversity on Facebook's board of directors.
NEWS STORY:
SHAREOWNER ACTION | PROXY ACCESS
ICCR Publishes 2012 Proxy Resolutions and Voting Guide
The Guide reveals a focus by members of the Interfaith Center on Corporate Responsibility on social issues and corporate engagement.
NEWS BRIEF:
SUSTAINABLE INVESTMENT | RENEWABLE ENERGY
US Venture Capital Investment in Cleantech Down in 2011
Ernst & Young reports that investment by US-based venture capital in cleantech companies amounted to $4.9 billion in 2011, a 4.5% decrease from 2010.
NEWS BRIEF:
ENVIRONMENTAL ISSUES | RENEWABLE ENERGY
Intel Tops EPA's Green Power Partnership Rankings
EPA's quarterly ranking of top purchasers of renewable energy lists Intel first, followed by Kohl's and Wal-Mart; Kohl's and Whole Foods are largest purchasers of 100% green power.
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 Vi�es 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
Mar�a 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 oekom 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 Verit� 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 Ci | 
