Eurosif Welcomes New Member Affiliate Hermes Equity Ownership Services Ltd.Hermes Equity Ownership Services (EOS) helps institutional shareowners around the world to meet their fiduciary responsibilities and become active owners of public and private companies. EOS' team of engagement and voting specialists monitor its clients' investments in companies and intervene where necessary with the aim of improving performance. EOS' activities are based on the premise that companies with informed and involved shareholders are more likely to effectively manage risk and achieve superior long-term performance than those without.
Hermes has the largest stewardship resource of any fund manager in the world. The depth and breadth of this resource reflects our philosophy that ownership activities require an integrated and skilled approach. Intervention at senior management and board director level should be carried out by individuals with the right skills and with credibility. Making realistic and realisable demands of companies, informed by significant hands-on experience of business management and strategy setting is critical to the success of our engagements.
Owned by BT Pension Scheme, the UK's largest pension fund, EOS has a strong commonality of interests with the global coalition of investors it represents. Hermes and the BTPS have extensive experience of implementing the United Nations' Principles for Responsible Investment (UN PRI). EOS' Chief Executive Colin Melvin chaired the committee that drew up the original principles, and the current chair is a trustee of the BTPS. This insight enables EOS to help clients who wish to become signatories or have already achieved signatory status to meet the challenges of the PRI.
Dexia AM’s SRI Funds Quality Confirmed by Novethic Labels 2010
For the second consecutive year, Dexia AM has obtained the Novethic SRI label for 19 of its SRI funds, in all asset classes (equity, fixed income, balanced and money market). Dexia AM is widely distinguished with an extensive range of funds that have obtained the label. A pioneer in the domain of Sustainable and Responsible Investment, Dexia AM is proud to receive these labels, which confirm the quality of our SRI analysis and fund management. All our funds that received a Novethic label in 2009, have received it in 2010, except for three funds, which have been absorbed during the year.
More information on Dexia AM SRI internet or Novethic.
Economistas sin Fronteras to Hold Expert Seminar in Madrid
On October 8th Economistas sin Fronteras and the CSR Chair of UNED (Spanish open University) will hold a work seminar on SRI in Madrid, Spain. During the event, “Problemas y retos: Integrando la Responsabilidad Social Corporativa en las decisiones de inversión” (“Problems and challenges: integrating CSR in investment decisions”) participants will discuss and identify key aspects to manage SRI and engagement, nowadays and in the future.
This seminar is addressed to SRI professionals and experts and especially to Collective Investment Institutions, Asset Managers and university researchers, who will participate in two workshops: “SRI criteria: development and problems” and “the way of corporate engagement”.
For more information please visit the following link http://www.ecosfron.org/?opcion=2&cat=10 or contact Johanna Hariri at Economistas sin Fronteras isr@ecosfron.org
Ethix SRI Advisors Aappoints Dr Rory Sullivan as Strategic Advisor
Dr Rory Sullivan, the internationally recognised expert on responsible investment, has been appointed as Strategic Advisor by Ethix SRI Advisors, the leading responsible investment advisory firm in the Nordic region.
Ulrika Hasselgren (CEO, Ethix SRI Advisors) said: “For our clients, responsible investment is increasingly central to how they manage money, the investment decisions that they make and the dialogue they have with the companies in which they invest. The challenge for us is to harness our recognised expertise in areas such as human rights, the defence sector, climate change and environmental management, to offer the research and advice our clients need to deliver on their responsible investment commitments. Appointing Rory is a critical step in our development. He has deep knowledge of the investment industry, extensive experience in integrating environmental, social and governance (ESG) issues into investment processes across a range of asset classes, and expert knowledge in the areas of climate change, human rights and development. “
Contact: Ulrika Hasselgren, CEO Ethix SRI Advisors: 0046 708 211 708 begin_of_the_skype_highlighting 0046 708 211 708 end_of_the_skype_highlighting, ulrika.hasselgren@ethix.se
Rory Sullivan, Strategic Advisor; Ethix SRI Advisors: 0044 7503168205, rory.sullivan@ethix.se
Ethos Appointed as Engagement Partner of Bank Pictet Environmental Fund
Ethos has been selected by Pictet Funds to provide sustainability advice to its newly launched theme fund, “Pictet-Environmental Megatrend Selection.” Specifically, Ethos will engage in dialogue with selected investee companies to convince them to improve their environmental, social and governance practices. By combining asset management and shareowner engagement, Ethos and Pictet innovate in the theme funds management.
Find out more.
Forética Research Publications Launched
Forética has published the latest edition of its RESEARCH. This issue focuses on the phenomenon of demographic change and its impacts on global population and economy. In addition, the publication looks at topics such as the “happiness index” and equality in the workplace and other news stories and current events. In addition, a new issue in Forética’s series of research publications focuses on the topic of water management. The publication explores the link between water management and economic development, and offers a selection of 16 best practices that exemplify the entrepreneurial response to the challenge of water shortages. Read more.
GES Forms Strategic Partnership with Manifest for Enhanced Risk Management
Two of Europe’s leading independent investment service providers within their fields, GES Investment Services and Manifest Information Services, have formed a strategic partnership. Bringing together specialist research in environmental, social and governance issues with global proxy voting services, they present a fully-fledged European solution for Responsible Investment.
Manifest is working closely with GES to integrate their incident watch and risk ratings into Manifest’s tailored voting recommendations so that investors can create custom ESG voting guidelines. In return, GES will receive access to Manifest’s governance data and proxy voting systems, which will reinforce both the foundation for GES’ engagement activities as well as the feasibility of these.
http://www.ges-invest.com/pages/?ID=201
LGT Capital Management Underlines its Commitment to the Field of SRI
As of August 31, 2010, the SRI fund range of LGT Capital Management increased to five. The new fund is called LGT Sustainable Impact Equity Fund (EUR) and is a traditional European Equity Fund that has been transformed to a SRI fund. The global operating investment boutique, a specialist for strategic solutions and traditional investments like equities and fixed income now manages one SRI Bond fund, two SRI Multi Asset Class funds and two SRI Equity Funds.
For more information please click here.
Manifest Forms Strategic ESG Partnership with GES
Two of Europe’s leading independent investment service providers within their fields, GES Investment Services and Manifest Information Services, have formed a strategic partnership. Bringing together specialist research in environmental, social and governance issues with global proxy voting services, they present a fully-fledged European solution for Responsible Investment.
Manifest is working closely with GES to integrate their incident watch and risk ratings into Manifest’s tailored voting recommendations so that investors can create custom ESG voting guidelines. In return, GES will receive access to Manifest’s governance data and proxy voting systems, which will reinforce both the foundation for GES’ engagement activities as well as the feasibility of these.
http://www.ges-invest.com/pages/?ID=201
Oikocredit Becomes Bank Constanta's First International Shareholder
Oikocredit has consolidated its commitment to the Caucasus by becoming the first international shareholder in Georgian MFI Bank Constanta. Oikocredit’s partnership with Constanta dates back to 2005, and since then Constanta has received five Oikocredit loans totaling around €4.5 million. Currently, Constanta primarily offers loan products to the microenterprise sector but will broaden its scope and outreach to include small and medium enterprise financing and other financial services, in urban and rural areas. At the end of 2009, Constanta had 11,500 clients and a portfolio of $31.4 million (approximately €24 million).
Throughout Georgia's 2008 armed conflict, the country lost foreign investors and confidence in the economy wavered. Despite the challenges, Oikocredit maintained a solid partnership with Constanta and other project partners. In addition to investments in Bank Constanta, Oikocredit has loans to other Georgian microfinance organizations, such as FINCA Georgia, MFO Crystal and MFO Credo.
Read more on Oikocredit’s equity investment in Bank Constanta.
oekom research: Development Banks Record Social and Environmental Benefits of Sustainable Lending
oekom research has looked at how 21 of the world’s leading development banks are facing up to their social and environmental responsibilities. On a scale from A+ (highest score) to D-, the European Bank for Reconstruction and Development (EBRD) achieved a B-, followed by the International Bank for Reconstruction and Development (IBRD) and the European Investment Bank (EIB), both of which also scored B-. “A number of positive initiatives are being undertaken, notably in the areas of microcredits, housing subsidies, education financing, business start-ups and renewable energies,” explains Dietrich Wild, Research Director at oekom research and analyst in charge of this sector. Given the vital role of the development banks in infrastructure and development financing, they have a duty to address global challenges such as poverty, climate change and the increasing threat to natural habitats. The sector as a whole still shows room for improvement.
For more information please contact Ines Markmiller.
Sustainalytics Webinar: Thursday, October 28, 4:00 pm – 5:00 pm CDT/ 10:00 am – 11:00 am EDT
Technology hardware companies are facing a challenge to their reputations as good corporate citizens. As consumer appetites for the latest technological devices increase, the demand for key metals such as tin, tantalum, tungsten and gold also increases. This trend clearly improves the bottom line for companies and their shareholders; however, there is an argument that it also increases the war chests of combatants in the Democratic Republic of the Congo. And these combatants are committing horrific human rights atrocities, such as child and slave labour and the mass rape and torture of women and girls. In the last 15 years, studies have found that millions of people in the DRC have died from conflict-related causes.
On October 28, Sustainalytics’ analysts will provide some context and highlight the risks to companies and investors who may be directly or indirectly complicit in this ongoing crisis. Informed by analysis from our recent report, Complicity in the Congo: Investor Risk in the Minerals Supply Chain, Azadeh Sabour and Matthew Barg will share their perspectives on this controversial social issue.
Visit www.sustainalytics.com to register.
Threadneedle Named Leading SRI Fund Manager in 2010 ThomsonExtel survey
Threadneedle has been named Leading Fund Management Firm for SRI in the latest Thomson Reuters Extel/UKSIF Socially Responsible Investing & Sustainability Survey. The 2010 Survey represents the views of over 450 investment professionals from 16 countries, making it the most extensive assessment of SRI in the European investment community. It covers 254 investment management firms and 42 brokerage firms/research houses. The win builds on Threadneedle’s third place ranking last year.
Therese Niklasson, Head of Governance and Responsible Investment at Threadneedle, said: “We are delighted to be awarded Leading SRI Fund Management Firm by Thomson Extel and UKSIF. It acknowledges our success over the past few years in developing a value-adding model and approach for ESG integration. It’s encouraging to see mainstream investors across the board adopting increasingly sophisticated methods of drawing value from sustainability integration and applying them to all levels of the business including investment research, client relationships and portfolio holdings.” Visit Threadneedle’s website for more information.
Triodos Excludes Roche from Investments within Short-term
Recent controversies show that Roche’s clinical trials with transplanted organs in China do not meet Triodos criteria for selection. Roche, based in Switzerland, is a biotechnology company that operates in the fields of pharmaceuticals and medical diagnostics. Former analysis by Triodos Sustainability Research found the company to be eligible for our sustainable investment universe. However, in January this year, a controversy came to light when Roche received the Public Eye Award, sponsored by the Berne Declaration and Greenpeace. The award names and shames corporations with poor social or environmental behaviour. Naturally, Triodos decided to investigate the case and reassess our findings. Since the company no longer meets their human rights minimum standard, it has been excluded from the Triodos sustainable investment universe and will be removed from all Triodos investments within the short term. Read the full article.
UBS Research Focus: The Rush for Resources Challenges Emerging Markets
In its latest UBS research focus, UBS Wealth Management Research (WMR) argues that resource scarcities can have adverse environmental and social consequences for emerging markets and act as a drag on their growth. Making their growth more sustainable will be a formidable task and should open up interesting investment opportunities. Despite the recent economic slowdown, resources are again becoming scarcer. Emerging markets will need to take decisive steps to balance high economic growth with measures to mitigate the adverse environmental and social consequences of strongly rising resource consumption.
The report concludes that:
• Government intervention is playing a growing role in the distribution of resources.
• Water scarcity could constrain the growth of some emerging markets.
• China, now the world's largest energy consumer, is taking steps towards more efficient energy use and renewables.
• In the longer term, low-wage jobs may increasingly move from emerging markets to frontier markets.
• Solutions for more sustainable emerging market growth offer interesting opportunities for companies and investors
Please visit UBS’ website for more information.
