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.
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.
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.
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.
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.
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
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.
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.
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
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
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
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.
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.
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.
$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.
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.
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
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
NGOs Urge Green Climate Fund to Deny Accreditation to Scandal-Plagued Banks
HSBC and Crédit 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
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.
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.
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
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.
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
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
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
Morgan Stanley Issues $500 Million Green Bond
The investment bank intends to fund a number of wind energy projects in the US.
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.
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.
Community Capital Management Expands Green Bond Offerings
The fixed income investment adviser offers opportunities for sustainable investors to meet their
community investment mission.
Verite to Assess Trafficking Risks in Sub-Saharan Africa
With economies improving and ample natural resources, the region is at heightened risk for human
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.
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
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.
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.
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.
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.
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.
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
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
$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.
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.
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.
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
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
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
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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%.
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
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
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
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.
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.
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
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.
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.
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.
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
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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
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.
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
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.
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
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.
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.
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.
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.
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
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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"
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.
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
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.
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.
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.
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.
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.
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.
$50 Million to be Invested in Sustainable Agriculture
Community Capital Management commits to investing $50 million of fixed income investments in
sustainable agriculture initiatives.
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.
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.
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.
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.”
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.
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
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.
$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.
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.
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
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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
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
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.
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.
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
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.
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.
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.
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.
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
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.
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.
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
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.
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
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.
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.
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
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
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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
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.
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.
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
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.
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.
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: 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.
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.
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
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.
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.
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.
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.
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
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.
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.
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.
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.
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
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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
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.
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.
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.
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.
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
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 Briefs for March 26th
Trillium Asset Management withdraws shareowner proposal on political spending at Hess, and Calvert
Investments wins Lipper Fund Award.
Literature and Climate Change
In which this writer turns to a writer of creative literature for inspiration and understanding in
considering the climate crisis.
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.
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
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 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.
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.
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.
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: 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.
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.
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.
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.
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
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.
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
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.
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
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.
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.
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
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.
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.
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: 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.
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
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.
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
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
$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
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
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.
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
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.
Fossil Fuel Divestment only the First Step
Investors join 350.org to produce a guide on divesting from fossil fuel companies. First of a
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.
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.
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.
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
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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
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.
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.
German Stock Exchange 100th Business to Join Integrated Reporting Pilot
The International Integrated Reporting Council announces that Deutsche Börse Group is the first
stock exchange to join its pilot program in integrated 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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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
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.
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.
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.
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.
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 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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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
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.
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.
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
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
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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
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.
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.
Twenty Years on, Corporate Sustainability Still Lacking
In its annual rating of the sustainability performance of the world's largest companies, oekom
research finds that only one in six demonstrate adequate commitment.
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
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.
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
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
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
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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
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.
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
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
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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
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
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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
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
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.
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.
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.
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
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
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.
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
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.
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.
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
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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
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.
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.
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.
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
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.
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.
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.
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.
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
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.
$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.
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
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.
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%.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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
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.
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
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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
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.
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.
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.
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.
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.
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
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
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 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
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.
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.
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
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.
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.
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.
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.
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.
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.
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
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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
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.
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
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.
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: 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.
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.
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.
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.
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
Replacement for GDP Proposed at Rio+20
The Inclusive Wealth Index would provide a definition of wealth that encourages sustainable
economic and social development.
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.
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.
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.
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.
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
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.
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.
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
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.
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.
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.
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%.
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.
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
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
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
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.
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.
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.
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.
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.
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
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
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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
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.
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
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.
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
$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.
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.
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
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
HP Agrees to Proxy Access
The computer giant agrees to allow institutional investors meeting ownership thresholds to nominate
candidates for its Board of Directors.
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.
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.
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
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.
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.
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.
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
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.
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.
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.
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.
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: 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.
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
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.
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.
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: 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
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.
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.
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.
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
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.
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.
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
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.
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.
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
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.
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
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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 Corp, Nine Other Firms Singled out for Poor Governance
GMI Risk List highlights ten companies with poor governance issues and other ESG-related concerns.
Greenhouse Gas Protocol Sets Standards for Scope 3 Reporting
A new report provides guidance to companies for reporting on indirect emissions in their supply
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.
SRI in the Rockies: Moskowitz Prize Winner Presents Paper
Co-author Sadok El Ghoul explains how corporate social responsibility lowers cost of equity.
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.
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
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
Trillium Wraps Up 2011 Proxy Season
Asset management firm's resolutions led to successful engagement on environmental reporting,
political spending, and Internet privacy.
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.
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.
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.
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.
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.
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.
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
Dow Jones Sustainability Indexes Completes Annual Update
Medtronic and Goldman Sachs are added, while Coca-Cola, Hewlett-Packard, and Microsoft are dropped.
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
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: 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.
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.
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.
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.
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
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.
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.
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
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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
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
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.
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.
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
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.
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.
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: 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.
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.
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.
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.
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.
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.
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)
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."
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.
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.
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.
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.
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
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.
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
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.
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
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.
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.
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.
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: 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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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."
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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
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.
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 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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
European Commission to Investigate Antitrust Violations by Banks
The Commission will investigate possible collusion among 16 banks in the marketing of credit
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.
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
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.
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.
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
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.
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.
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.
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
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
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.
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.
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
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
Oxfam's Better Returns in a Better World Project Seeks Poverty Alleviation Through Investment
SocialFunds.com speaks with Helena Viñes Fiestas of Oxfam about the results of roundtable
discussions with institutional investors seeking to incorporate social considerations into
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
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
EPA Regulations on Emissions Take Effect
As of January 2, 2011, new and upgraded power plants must install technology to reduce greenhouse
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.
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: 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.
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
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
Shareowners Launch Campaign Against Corporate Political Spending
Investors call for board oversight and disclosure of all political spending by corporations.
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.
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.
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.
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.
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.
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.
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.
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.
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.
CalSTRS Backs Off from Plan for Huge Commodities Investment
Decision follows expressions of concern by sustainable investors over effect of price volatility on
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.
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.
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
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.
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.
Catholic Investors Target Pornography
Christian Brothers Investment Services leads initiative to request improved transparency from major
media companies that distribute pornography.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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
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
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Dow Jones Sustainability Indexes Updated
For the 11th year, SAM Indexes provides analysis of corporate sustainability leadership for index
that now contains 318 components.
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
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.
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.
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.
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.
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.
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.
SEC Adopts Rules for Proxy Access
Activist shareowners praise the rule that will allow them to nominate candidates for corporate
boards of directors.
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.
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.
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.
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.
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.
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.
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
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.
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
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.
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.
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.
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."
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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
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.
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.
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.
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.
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.
Environmental Resolutions Continue to Gain Strong Shareowner Support
Resolutions requesting better disclosure of hydraulic fracturing win substantial support at two oil
and gas companies.
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.
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.
IntercontinentalExchange Acquires Climate Exchange
The acquisition anticipates substantial growth in the global carbon market if the US adopts a
mandatory cap-and-trade program.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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
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
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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: 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.
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.
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.
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
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.
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.
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: 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.
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.
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.
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.
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
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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
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.
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.
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
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
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.
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.
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.
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.
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.
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
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.
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.
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%.
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.
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.
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.
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.
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.
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.
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.
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.
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
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
RiskMetrics Acquires KLD
Deal is the second major acquisition of an ESG research provider by RiskMetrics in 2009.
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.
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.
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.
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.
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.
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: 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.
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.
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.
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.
Obama Directs Federal Agencies to Reduce Emissions
Executive Order requires Federal agencies to set greenhouse gas emissions reduction targets within
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.
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.
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.
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.
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.
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
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
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
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.
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
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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
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.
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
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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: 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.
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.
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.
Dow Jones Sustainability Japan 40 Index Is Launched
Index includes the largest 40 sustainability leaders in Japan, based on corporate sustainability
assessments by SAM.
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
María Otero Is Confirmed as US Under Secretary of State for Democracy and Global Affairs
Under her leadership as CEO since 2000, ACCION International served 3.7 million micro-entrepreneurs
and had a combined portfolio of nearly $3.6 billion.
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.
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.
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.
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.
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.
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
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
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.
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.
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
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.
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.
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
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.
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.
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.
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.
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
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.
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.
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.
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
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.
SAM Launches New Mutual Fund for US Investors
The SAM Sustainable Global Active Fund invests in companies based on sustainability criteria.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
President Obama Signs Credit Card Act of 2009
Act is intended to eliminate unfair rate increases and increase accountability for creditors and
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.
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.
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
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.
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.
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.
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.
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.
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.
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
Canadian SRI Assets Increased to $609 Billion in 2008
Report by the Social Investment Organization finds that SRI has maintained its market share of
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.
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.
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.
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.
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.
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.
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.
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.
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.
New San Francisco Coworking Space Will Benefit Social Entrepreneurs
Social innovators rent space from HUBsf as needed, and share ideas with like-minded entrepreneurs
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.
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.
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.
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.
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.
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
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
Bi-Annual FTSE4Good Index Series Review Completed
Benchmark Index for investors that measures corporate responsibility standards adds 23 and removes
16 constituent companies.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
SRI Fund is Category King for January 2009
Eventide's Gilead Fund is designated top multi-cap growth fund by Wall Street Journal
Riskmetrics to Acquire Innovest
RiskMetrics cites expansion of research on environmental, social, and strategic governance issues
as major reason for purchase.
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.
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: 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.
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.
Who Controls the Internet?
Shareowner proposals challenge Internet Service Providers for greater transparency in decisions on
freedom of expression and privacy.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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
Teamsters Proposal to Limit SunTrust Executive Pay excluded by SEC
Shareowner advocates criticize Commission for inconsistent decisions and drift away from mission to
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.
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.
Ethisphere Publishes List of 100 Most Influential People in Business Ethics for 2008
Honorees include several members of the social investment community.
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.
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.
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.
Wells Fargo Exceeds Environmental Financing Goals
Bank's progress report details $3 billion in financing for green business opportunities over a
Report Warns of Unsustainable Consumption
WBCSD report finds consumers willing to embrace sustainable lifestyle, but need access to products
and services to do so.
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.
Co-op America Names Top Corporate Scrooges
CEOs named to the list represent a range of business sectors and a diversity of social and
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.
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.
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 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.
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.
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.
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.
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.
Principles for Climate Change Developed for Financial Sector
Major financial institutions join with The Climate Group to promote principles of business for a
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Wells Fargo Launches Its First Sustainability Fund
New mutual fund from Wells Fargo invests in large cap companies that meet SRI screening criteria.
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.
Calvert Adds Global Water Fund to Series of SRI Portfolios
Anticipating need for $1 trillion investments annually, sustainable investors see water as key
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.
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.
Calvert Foundation Receives $10 Million Investment from Merrill Lynch
Investment in foundation's Community Investment Note is intended to support women entrepreneurs in
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.
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.
Dow Jones Sustainability Index Updated
Dow Jones Sustainability World Index lists 320 corporate sustainability leaders, up from 312 in
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
Investors Push Companies For Greater Disclosure on Lawsuits
A proposed FASB rule change would require that loss contingencies related litigation be disclosed
Eurosif Study Finds Increasing Investment in Sustainability by Wealthy Individuals
First-ever study addresses sustainable investment by high net worth individuals.
New Sustainable Transportation ETF to be Launched on NASDAQ
Index-based ETF to track companies offering green solutions to growth in worldwide transportation.
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.
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
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
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.
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.
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
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.
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
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.
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.
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.
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.
Are Alcohol Screens Outdated?
Social investors have used exclusionary alcohol screens for decades. Is it time to reconsider this
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.
EarthFolio Screens the Big SRI Picture
New investment site offers fully managed SRI portfolios for every type of investor, from timid to
SRI Assets Surge Ahead
New socially responsible investing study reports one dollar out of every nine dollars under
professional management is invested responsibly.
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.
Institutional Investors Plan Long-term for Climate Change
Summit at the UN unveils an action plan for addressing climate change risks and opportunities.
Yearbook Presents Sustainability Trends and Leaders
SAM and PricewaterhouseCoopers offer insights into the sustainability efforts of cutting-edge
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.
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.
New Index Contains Companies that Support Stewardship
Index leader launches first index series based on the Dharmic religions.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
Equalizing the Economic Playing and Farming Fields
Equity Trust invests in farms, non-profits and communities, helping people take charge of their
Jolly Green Giant: Google Gives the Green Light to Alternative Energy
Google promises millions of dollars to create inexpensive renewable energy.
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.
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.
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.
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.
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.
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.
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.
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.
Are Colleges Only Green Skin Deep?
The Sustainability Report Card 2008 examines colleges and universities dedication to
sustainability, on campuses and in endowment portfolios.
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.
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.
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.
"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.
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.
Ardour Global Index Offers Unique Alternative Energy Universe
Ardour Global Index adds new companies in quarterly rebalancing, including US manufacturer Beacon
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.
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.
Where in the World is Corporate Responsibility?
EIRIS' new report "The State of Responsible Business" details growing corporate responsibility in
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.
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.
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.
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-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.
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.
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.
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-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.
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.
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.
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.
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.
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.
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--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.
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.
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.
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.
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.
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.
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.
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.
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.
MMA Now Offers Small Cap and Growth Index Funds
Leading faith-based investment company MMA Praxis Mutual grows its offerings with two new screened
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.
Gabelli Launches New Value-Oriented SRI Fund
Gabelli Funds offers its first open SRI Fund, backed up by years of SRI experience working with
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.
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.
Nanotechnology: The Smallest Green Revolution?
A new report from the Project on Emerging Nanotechnologies touts "green" nanotechnology, and calls
for Federal oversight.
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.
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.
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.
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
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.
Grading Sustainability Reports: Creating the Curve
As more and more companies publish sustainability reports, awards and studies of these reports help
raise reporting standards.
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.
Over the Hedge: New Green Hedge Fund of Funds
Kenmar plans to launch socially responsible hedge fund of funds for institutional investors.
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
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.
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.
Subprime Lending Hurts Homeowners
The Center for Responsible Lending contends that subprime lending has led to a net loss in
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
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.
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.
ABN AMRO Asset Management Launches First Indian SRI Mutual Fund
New fund focuses on companies screened by Indian research and ratings company CRISIL.
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.
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.
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
New Bond Index Focuses on Climate Change
JP Morgan Chase and Innovest introduce the first bond index that addresses climate change risks and
Toxic Cosmetics Getting Under the Skin of Concerned Investors
Health-conscious investors and consumers are starting to demand cosmetic companies report and ban
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
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.
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.
Aflac Shareholders Get Say on Executive Pay
Aflac becomes the first major US company to offer shareholders a non-binding vote on executive
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.
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.
Social(k) Catalyzes SRI Retirement Opportunities for Employees
Social(k)’s online retirement platform expands companies’ retirement options by offering over 100
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
"Say on Pay" Highlighted in the Upcoming 2007 Proxy Season
Institutional investors band together, asking for the right to weigh in on top executive
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.
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.
MicroVest Secures Mutual Fund Investor
Meritas Jantzi Social Index Fund Invests with MicroVest
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
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Pax World and Citizens Announce Engagement
The marriage would consolidate two leading socially responsible investing firms with primarily
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.
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.
Domini Shareowners Approve Shift from Index Tracking to Active Management
The transition carries implications for investors, such as capital gains taxes, which Domini is
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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--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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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--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.
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.
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.
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.
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.
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.
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.
Whole Foods Market Gags Shareowners at Annual Meeting
A leader on corporate social responsibility, Whole Foods lags on corporate governance by stymieing
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.
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.
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.
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.
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--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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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
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.
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.
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.
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.
Socially Responsible Property Investment Still on the Drafting Table
A blueprint of the fledgling field of socially responsible real estate investment.
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--Megatrends 2010: The Rise of Conscious Capitalism
The newest in the Megatrends series advances a framework for conscious capitalism that highlights
socially responsible investing.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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--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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
SRI Notes and SRI-Extra harness the strengths of weblogs to comment candidly on developments in
socially responsible investment as they happen.
Labor Day List Celebrates Corporate-Union Collaboration
The inaugural list launched by American Rights at Work spotlights positive relationships between
companies and their workers.
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
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.
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
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.
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.
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.
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.
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.
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.)
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.
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--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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
Report Ranks Best German Corporate Sustainability Reports
Henkel, adidas-Salomon, Volkswagen, BMW, and Deutsche Telekom rank in the top 10 of the 150 German
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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).
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
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
New SRI Managed Account Uses Options to Capitalize on Market Ups-and-Downs
The socially responsible investment team at Piper Jaffray screens the new Redwood Account, which
applies the covered options strategy of Kelmoore Investment Company.
Caterpillar Bulldozes Shareowner Concern Over Aiding Alleged Israeli War Crimes
Caterpillar faces a shareowner resolution as well as a lawsuit filed by the family of peace
activist Rachel Corrie that cites the Nuremberg Tribunal as precedent in alleging war crime
Coffee, Tea, or . . . Liqueur? Pax World Alcohol Screen Forces Reluctant Divestment from Starbucks
While Pax World applies a zero tolerance alcohol screen, other socially responsible investment
firms set thresholds for retailers based on the percentage of revenues derived from alcohol sales.
Faith-Based and Environmentalist Shareowners Withdraw Climate Change Resolutions at Six Companies
The six oil and gas companies commit to measure, mitigate, and disclose data related to global
warming, and evangelicals join their faith-based compatriots in concern over climate change.
Wanted: Socially Responsible Real Estate Investments
An academician searches for socially responsible real estate investment trusts, finding few that
fit the definition, as well as disagreement over what criteria define SRI REITs.
EPA Expands Program Recognizing Corporate Environmental Performance
Environmental Protection Agency Performance Track Program certifies a new crop of company
facilities, honors company-wide performance, and serves as an indicator for SRI research.
Biting the Hand That Feeds: Mutual Fund Ties to Corporate Clients Can Affect Proxy Voting
Study reveals that individual mutual fund firms do not alter proxy voting whether companies are
clients or non-clients, but fund firms with more clients tend to vote and adopt voting policies
Taco Bell Agrees to Pay Florida Tomato Pickers A Penny More Per Pound to End Boycott
Shareowner activists will also withdraw their resolution if parent company Yum! Brands agrees to
join agricultural supply chain working group to address industry-wide reform.
Comparing Citigroup and JP Morgan Chase Policies: Which Stems Illegal Logging in Indonesia?
Before providing funding, financial institution policies requiring documentation certifying
legitimate timber sourcing may help promote sustainable logging in Southeast Asia.
Campaign to Enhance Pharma Industry Accountability Broadens Shareowner Action
The Interfaith Center on Corporate Responsibility sent letters to over 2,750 institutional
investors seeking support for three resolutions filed at nine pharmaceutical companies.
Community Credit Union Brings Hope to Low-Income Residents of the Mississippi Delta
Hope Community Credit Union launched a $15 million initiative supported by corporate investment and
New Markets Tax Credits to promote economic justice in the Mid-South.
Carrots and Sweets: Tying Executive Remuneration to Extra-Financial Performance Indicators
A report from Henderson Global Investors and Universities Superannuation Scheme finds incentives
for extra-financial performance tied to short-term instead of long-term indicators.
MMA Praxis International Fund Buoyed by Strong Performance in Global Markets
Growth is concentrated in sectors and companies that are excluded by social and environmental
Tale of Two Reports: Sustainability Yearbook Compares Extra-Financial to Financial Reporting
Published jointly by Sustainable Asset Management and PricewaterhouseCoopers, the yearbook shows
how adding extra-financial data to a financial report increases buy recommendations.
Web Design, Lobbying Disclosure Fuel Co-Operative Bank Win of UK Sustainability Reporting Awards
The award judges distinguished between sustainability and corporate social responsibility
reporting, noting that many reports identifying themselves as the former (which are more rigorous)
were actually the latter.
Book Review--Corporations and the Public Interest: Guiding the Invisible Hand
Steve Lydenberg eloquently describes corporate social responsibility and socially responsible
investment, fields in which he is an expert, and recommends mechanisms to fuel their trajectories.
Binding Resolutions and Coordination Circumvent Structural Limitations of Shareowner Action
A preview of the 2005 proxy season reveals tactics that challenge the systemic imbalance of power
favoring corporate management and directors over shareowners.
Deafening Silence: Corporate Political Contribution Non-Disclosure Impacts Shareowner Value
A Center for Political Accountability report documents corporate secrecy on political donations,
and a Common Cause report reveals how mutual funds fail to support contribution transparency.
Mixed Messages and Flip-Flops as the SEC Director Nomination Rule Stagnates
While the SEC retracts its promise to allow shareowners to file director nomination resolutions,
lawsuits secure shareowner rights to nominate directors.
Benchmarking Corporate Governance on Product Toxicity and Safer Alternatives
The benchmark, released by the Rose Foundation today, addresses the scientific uncertainty of
product toxicity through risk assessment and opportunity identification instead of inaction.
Speaking From Both Sides of the Mouth: The Art and Science of Corporate Tax Avoidance
Three reports--by a US tax watchdog, a pair of US academics, and a UK socially responsible
investment firm--find troubling trends in corporate tax strategies.
Community Investment Surpasses the $1 Billion Mark at The Rock
The Prudential Financial Social Investment Program, one of the oldest community investment programs
in the country, has distributed more than $1 billion before its 30th anniversary.
List of Global 100 Most Sustainable Companies Highlights Alcoa, BP, and Toyota
Canadian corporate social responsibility magazine Corporate Knights sponsored the list, which is
based on sustainability ratings from Innovest Strategic Value Advisors.
Two Socially Responsible Investment Exchange Traded Funds Launch
The iShares KLD Select Social Index Fund seeks broad diversification and low risk, while the
PowerShares WilderHill Clean Energy Portfolio ETF invests in renewable energy companies.
Calvert Foundation Community Investment Notes Go Electronic
For the first time, individual and institutional investors will be able to support community
investment in the same way they transact most other investments--via computer.
Reigning In Raines on Bonuses Based on Earnings Before Restatements
With restatements of financial earnings reaching record levels in 2004, the question arises whether
executive bonuses based on incorrect earnings statements should be recalculated.
Book Review--Faith and Fortune: The Quiet Revolution to Reform American Business
Fortune magazine writer Marc Gunther documents the growing link between spiritual values, which he
defines broadly to include sustainability, and business conduct.
Pax World Tells Its Shareowners That Market Timers Hit Its High Yield Fund in 2003
In a letter to shareowners, Pax said it believes the market timing differed from the abusive forms
associated with the mutual funds scandal and that shareowners did not suffer any material losses.
World Economic Forum Report Finds Decreasing Corporate Awareness and Response to AIDS
The report also finds an increase in companies adopting HIV/AIDS policies, a trend confirmed by the
Global Business Coalition on HIV/AIDS.
Monsanto $1.5 Million Fines for Genetic Engineering Bribe Illustrates Risks of GE Strategy
The penalties, levied by the Securities and Exchange Commission and the Department of Justice, may
lend credence to a shareowner resolution asking Monsanto to report on GE risks.
Enhanced Analytics Initiative Picks Sell-Side Brokerage Houses with Best Intangibles Research
EAI awards seven firms and three runners-up for outstanding sell-side analysis of corporate social
and environmental issues.
2004 Socially Responsible Investment Fund Performance
Of the broadly-screened SRI mutual fund tracked by SocialFunds.com, two earned over 20 percent
returns, and six others joined them in outperforming more than 80 percent of their SRI and non-SRI
World Economic Forum and AccountAbility Report on Mainstreaming Responsible Investment
The report, based on three roundtables convened by the report sponsors, is particularly
illuminating in representing attitudes and perceptions toward social and environmental issues of
roundtable participants from the mainstream investment community.
ConocoPhillips Bows Out of Arctic Power, Green Century Withdraws ANWR Resolution
The oil company left the group lobbying to open the Arctic National Wildlife Refuge a year ago and
neglected to inform resolution filers, who were nonetheless pleased with the development.
Top Five Socially Responsible Investing News Stories of 2004
Shareowner engagement shifted from confrontational to collaborative, sustainability analysis fused
with financial analysis, and fiduciary duty expanded to include social and environmental issues.
Addressing the Israel-Palestine Conflict Through Shareowner Action and Selective Divestment
Part two of this two-part article examines the Presbyterian Church USA's policy of "phased,
selective divestment" and the Episcopal Church's decision to study the issue before responding.
To Divest or Not to Divest: Ethical Considerations of Addressing the Israel-Palestine Conflict
Part one of this two-part article examines across-the-board divestment from companies profiting off
Israeli policies that harm Palestinians, and the case against divestment.
Latin American Forest Products Company Illustrates Best Practice Sustainability Reporting
Terranova issues its second Global Reporting Initiative-based sustainability report, exhibiting
many exemplary practices such as stakeholder engagement and external verification.
Calvert First SRI Firm to Issue Global Reporting Initiative-Based Sustainability Report
While many small-to-medium-sized enterprises consider sustainability reporting prohibitive, Calvert
finds value in doing what it asks publicly traded companies to do.
Dell and Starbucks First Companies to Endorse Calvert Women's Principles
The two companies publicly commit to implement the code in their business practices, setting a
precedent for other companies to follow in promoting parity for women in business.
Unocal Alien Tort Claims Act Case Settlement Boosts Corporate Accountability
Some interpret the settlement between the energy company and Burmese villagers as setting a
practical precedent for holding companies responsible for indirect human rights abuses.
New Indexes Seek to Link Corporate Governance and Diversity to Financial Performance
A DiversityInc index and joint FTSE-ISS indexes try to answer if diversity and corporate
governance, respectively, correlate to financial outperformance.
Divesting from Genocide: More Conversation with Eric Reeves of the Divest Sudan Campaign
In part two of this two-part interview, Mr. Reeves discusses the significance of actions by the
investment and legislative communities to address the humanitarian crisis in Sudan.
Divesting From Genocide: A Conversation with Eric Reeves of the Divest Sudan Campaign
In part one of this two-part interview, Mr. Reeves explains why shareowner action and direct
dialogue with companies operating in Sudan is not an option in the context of genocide.
Corporations Fight to Keep Political Contributions in the Closet
The Center for Political Accountability expands its campaign by advancing shareowner resolutions
asking companies to disclose political donations and to provide a business rationale for them.
Two Reports Reveal Proxy Votes Rubber-Stamp Management Recommendations
One finds the majority of top US mutual funds voting against climate change resolutions, the other
finds contradictory proxy by Canadian pension fund managers.
Ford HIV Report Exemplifies New Shareowner Action Strategy
Ford joins Coca-Cola, Cinergy, and others heeding shareowner resolutions requesting reporting on
social and environmental issues, but it remains to be seen how far the strategy will extend.
Bhopal, Climate Change Require Shift From Legal Liability to Moral Accountability
A report by SustainAbility examines how increasing legal liabilities are blending into moral
liabilities, forcing companies to face social and environmental accountability.
Gap-Verite Collaboration Exemplifies Award-Winning Practice on Social Responsibility
Verite wins a Social Capitalist Award for labor standards monitoring such as its work with the Gap,
whose Social Responsibility Report earns a Social Reporting Award.
ICCR Spends World AIDS Day Preparing Shareowner Resolutions for Upcoming Proxy Season
This year's resolution has expanded to cover operations in India and China as well as Africa, and
ICCR is campaigning for pharma companies to provide better access to medicines for children.
FTSE4Good Raises the Bar With New Supply Chain Labor Standards Criteria
Launched last week, the new criteria allow companies already in FTSE4Good indexes limited time to
implement policies, systems, and eventually reporting on supply chain labor standards.
Enhanced Analytics Initiative Offers Sell-Side Analysts Cash to Cover Intangibles
A group of European institutional investors launched EAI to encourage mainstream investment
analysts to include issues such as corporate governance and climate change in their research.
Rating Corporate Sustainability: Behind the Scenes at Oekom Research
SocialFunds.com visits Oekom Research to get a more in-depth look at corporate social and
environmental sustainability research.
European Socially Responsible Investment Firms Let the Sun Shine In
The European Social Investment Forum releases transparency guidelines covering seventeen socially
responsible investment practitioners.
Integrating Sustainability at Xerox: A Talk with VP for Environment, Health, and Safety Jack Azar
In part two of this two-part interview, Mr. Azar discusses how Xerox integrates sustainability into
its policies and practices.
Zero Waste and Industrial Ecology: A Talk with Xerox VP for Environment, Health, and Safety Jack Azar
In part one of this two-part interview, Mr. Azar discusses the history of waste-free policies and
practices at Xerox.
Al Gore and David Blood Graft Sustainability Research into Traditional Investing Analysis
The former US vice president and the former Goldman Sachs CEO launch a new investment firm whose
research team fully integrates sustainability with fundamentals.
Sustainability Reporting Improves, But Falls Short on Linking to Financial Performance
A new benchmarking survey correlates the top 50 corporate non-financial reports to credit ratings,
but reports themselves fail to link financial and sustainability performance.
Paul Hawken Critiques Socially Responsible Investment: Is He On Target or Off Base?
A Natural Capital Institute report criticizes SRI for lack of standards and transparency on
screening and holdings for shareowner action.
How to Open Your Own Socially Responsible Investment Retirement Portfolio
In this real-life profile, an SRI-oriented financial planner advises a 34 year-old woman how to
transfer her non-SRI retirement account into a portfolio of SRI mutual funds.
Is CRA the Right Remedy for Race-Based Disparity in Mortgage Lending?
A new study finds significant disparity between lending to minorities versus whites, but a
Community Reinvestment Act expert questions the focus on CRA as the cure.
European Utilities Top Oekom Sustainability Rankings, US Utilities Crowd the Bottom
Corporate sustainability rating firm Oekom Research rewards climate change mitigation and enhancing
energy accessibility for the economically disadvantaged in its latest report.
SEC Decision on Shareowner Nomination of Corporate Board Directors Still Pending
Supporters and opponents of the proposed SEC rule granting shareowner access to the proxy to
nominate directors advance their causes while the rule languishes in limbo.
Moskowitz Prize Study Removes Doubt Over Link Between Strong Corporate Social and Financial Performance
The study analyzes over 50 published studies on corporate social performance and corporate
financial performance, and finds an unambiguous positive relationship.
Fonkoze Partners With Zanmi Lasante to Link Microfinance and Health in Haiti
The largest microfinance institution in Haiti teams with a renowned community health provider to
launch a new bank and hospital in a rural village.
Socially Responsible Investment Assets On the Up and Up Down Under
The Ethical Investment Association in Australia reports that SRI assets have doubled in the three
years it has been producing benchmarking surveys.
Are Electronic Components Producers Ready for Environmental Regulation?
A Citizens Advisors study surveys 26 electronics components companies, and projects that many of
them will be unprepared for European Union laws taking effect in 2006.
FDIC Proposes Rule Watering Down Community Reinvestment Act Requirements
The SaveCRA.org website promotes opposition to the rule change, posting information and a sample
letter to file with the FDIC before the end of the comment period tomorrow.
Abortion, Sexual Orientation Reveal Diversity of Socially Responsible Investment
The umbrella of socially responsible investment encompasses a wide diversity of values, running the
gamut from social progressivism to cultural conservatism.
Shell and BP Top Innovest CSR Ratings of Integrated Oil and Gas Companies
Marathon and several companies operating in emerging markets sink to the bottom of the rankings of
corporate social responsibility performers.
Calvert Fills Gap in Small- and Mid-Cap SRI Value Categories With Two New Funds
The two new funds add diversification options to the socially responsible investment (SRI) palate.
Morningstar Grades Mutual Fund Governance, SRI Funds Rate Well
Morningstar Fiduciary Grades find relatively few areas of weak performance for those socially
responsible investment mutual funds rated.
Memo From: SRI Analysts To: Companies--Use GRI Sustainability Reporting Platform!
A coalition of 17 socially responsible investment firms recommends that companies disclose social
and environmental data using the Global Reporting Initiative.
Global Survey of Socially Responsible Investment Finds Information Lacking
Questionnaire respondents express frustration over the reliability of social and environmental
information on their SRI holdings, and financial planner ignorance of SRI.
Disclosure: How SEC Proxy Voting Rules May Shift the Definition of Fiduciary Duty
Will mandatory disclosure of mutual fund proxy voting records drive change in the general
definition of fiduciary duty, or will the principle of undivided loyalty prevent this development?
Part two of a two-part article.
Fiduciary Duty, Undivided Loyalty, and Socially Responsible Investment Performance
Does the principle of undivided loyalty preclude fiduciaries from practicing SRI, or will
competitive SRI financial performance shift the definition of fiduciary Duty? Part one of a
Apple Added, Time Warner and Petro-Canada Deleted from FTSE4Good Index Series
The biannual review of FTSE4Good constituents resulted in the addition of 79 companies and the
deletion of 23.
Material Risks of Genetic Engineering Undisclosed by Food Companies, Report Says
A survey of the 35 largest food processors finds only two mentioning genetic engineering risks in
their annual reports, and none analyzing these risks.
As Socially Responsible Investment Grows in Japan, FTSE4Good Launches New Index
Following on the introduction of the first SRI index by Morningstar Japan last year, FTSE4Good
unveils the second SRI index covering the Japanese market exclusively.
SEC Asked to Let the Sun Shine on Corporate Political Contributions
A group of state and city treasurers and a watchdog group sent letters to the Securities and
Exchange Commission requesting mandatory political contributions disclosure.
About Face: Cintas Settles Lawsuit and Supports Vendor Standards Resolution
In his apology, Tim Smith of Walden Asset Management highlights the need for accurate information,
which Cintas promises to supply in the report requested by the resolution.
Conference Promotes Sustainability Through Corporate Collaboration
The Society for Organizational Learning (SoL) Business Innovation for Sustainability Forum calls
for cooperation amongst companies as well as with stakeholders.
New Web Tool Identifies Climate Risk and Opportunity in 24 Biggest Mutual Funds
KLD Research & Analytics information reveals both positive and negative corporate performance on
climate change, allowing retail investors to lobby their mutual funds.
First Alternative Energy Index Spawns Exchange Traded Fund
The WilderHill Clean Energy Index, published by the American Stock Exchange, will serve as the
basis for an exchange traded fund from PowerShares Capital Management.
Dow Jones Sustainability Indexes Add General Electric and Drop Electrolux
The annual change in the DJSI is based on recent assessment of corporate economic, environmental
and social performance.
As Mutual Funds Prepare to Reveal Proxy Votes, Guideline Disclosure Acts as Acid Test
Investor-friendly website accessibility to mutual funds' proxy voting guidelines may signal proxy
voting record accessibility and investor-friendly proxy voting.
Got Water? Report Recommends Solutions for Businesses To Address Water Scarcity
A new Pacific Institute report outlines the impacts on business of water scarcity, and offers ten
steps companies can take to help solve these problems.
US Banks Criticized for Involvement in China State Bank Bonds
Nongovernmental organizations and socially responsible investing firms criticize US banks for
selling Chinese bonds that fund socially and environmentally problematic projects.
How Do SRI Firms Walk Their Talk When It Comes to Corporate Social Responsibility?
Socially responsible investment firms take particulars such as scale and sector into account in
their CSR expectations at the companies they own and in their own operations.
Accuracy of Dow Chemical Statements and SEC Filings Questioned
On behalf of two socially responsible investment firms, an environmental attorney asks the SEC to
probe the factuality of public statements and filings made by Dow Chemical.
The Value of Transformation: The Catholic Equity Fund
After transforming itself from three actively managed funds into one index fund, the Catholic
Equity Fund works to transform corporate practice through shareowner advocacy.
CRAFund Goes Retail
Formerly available only to institutional investors, the Community Reinvestment Act Qualified
Investment Fund is now available to individuals through Charles Schwab.
Climate Change a Nuisance? Nine State and City Attorneys General Bet a Lawsuit On It
The first climate change lawsuit against corporations, aimed at the top five US carbon dioxide
emitters in the utility industry, cites federal common law on public nuisance.
Can Corporate Social Responsibility Put the Brakes on HIV in Africa?
A field report from Africa by Dan Rosan of the Interfaith Center on Corporate Responsibility.
House Votes to Kill Mandatory Expensing of All Stock Options, Sending Bill to Senate
The House's passage of the Stock Option Accounting Reform Act reverses Sarbanes-Oxley's commitment
to protect independence of FASB as the arbiter of accounting rules.
Two Socially Responsible Investing Funds Generate Double-Digit Year-to-Date Returns
The Ariel Fund and the Pax World Growth Fund perform well in the first half of this year.
How HIV/AIDS Impacts Corporations, and How Corporations Can Impact HIV/AIDS
The World Economic Forum and the International Labor Organization report on the impact of HIV/AIDS
on business, but will companies respond by addressing HIV/AIDS?
The Responsible Summer Reading List
Fifteen recommended books on corporate sustainability and our general welfare
A Brief History of Sustainability Reporting
Part one of this two-part article outlines the history of sustainability reporting up to the
present; part two projects trends in sustainability reporting into the future.
Does Supreme Court Validation of Alien Tort Claims Act Apply to Corporations?
Human rights organizations say yes, lawyers representing corporations in ATCA cases say no, but the
Supreme Court opinion itself remains vague on the issue.
Calvert Group Launches Code for Corporations to Profit by Promoting Gender Equality
Calvert links equality for women to sustainable development, making the ethical and business cases
for implementing its corporate code of conduct for empowering women.
Book Review--Profits With Principles: Seven Strategies for Delivering Value with Values
Pertinent case studies that illustrate corporate social responsibility best practice abound in this
well-structured and well-written book.
Community Investment Institutions Managed By and Benefiting African Americans
Generations Community Credit Union, Carver Bancorp, and UrbanAmerica are three African American
managed community investment institutions.
Rule Proposal Requires Canadian Mutual Funds To Disclose Proxy Votes and Guidelines
New Canadian Securities Administrators rule closely resembles the US Securities and Exchange rule.
The Emergence Story Behind Indigenous Peoples Rights Screens
Socially responsible investment firms also engage in shareowner action on indigenous peoples rights
Governance Overhaul: An Interview with Tyco Corporate Governance VP Eric Pillmore
Mr. Pillmore speaks candidly with SocialFunds.com about rebuilding reputation and trust, engaging
stakeholders, and increasing transparency.
US Socially Responsible Investment Indexes Diverse in Style, Study Says
A study presented at a recent socially responsible investment conference finds variability in US
SRI index construction.
Are the Equator Principles Sincere or Spin?
A report calls into question whether signatory banks are complying with the Equator Principles.
Sarona Supports Microfinance To Help Alleviate Poverty in Developing Regions
The Sarona Global Investment Fund finances starch processing in Paraguay, a foundation supporting
small enterprises in Romania, and a savings and loan cooperative in Haiti.
New SRI Index Optimizes Social and Environmental Performance and Controls Risk
The KLD Select Social Index caters to institutional investors by underweighting companies with weak
social and environmental performance instead of excluding them.
UK Prepares To Mandate Environmental and Social Reporting
Proposed guidelines for Operating and Financial Review reports require British company directors to
discuss the effects of social and environmental issues on business.
ExxonMobil Mocks Climate Change, Maine Treasurer Finds It No Laughing Matter
Senior management remains resolute in its disbelief of climate change risk.
New Bank of America Policy Sets Best Practice on Climate Change in US Bank Sector
Environmentalist organization Rainforest Action Network helps usher Bank of America into the
vanguard of US banks improving their environmental responsibility.
Baker & McKenzie Paper Concludes Social Investing Consistent with Fiduciary Duty
The opinion of a major US corporate law firm sets the bar for the fiduciary case for SRI.
Companies Ignore Majority Votes on Shareowner Resolutions
Some high-profile companies are taking advantage of the non-binding nature of shareowner
Carbon Disclosure Project Report and Greenhouse Gas Protocol Release Second Editions
Climate change initiatives get a significant boost this month with the release of two revised
editions of a report and a protocol for addressing global warming.
Shareowner Resolution Withdrawn as JP Morgan Chase Addresses Environmental Risks
A group of socially responsible investment advocates withdrew a shareowner resolution from JP
Morgan Chase when the company established an office of environmental affairs.
Dell First US Computer Company to Commit to a Global Recycling Goal
In its 2004 Sustainability Report, Dell commits to increase its fiscal year 2005 computer recycling
50 percent over fiscal year 2004 levels.
ChevronTexaco Faces Class-Action Lawsuit in Ecuador Over Environmental Damage
A resolution asking ChevronTexaco to report on new initiatives to address its legacy of
environmental damage in Ecuador gained nine percent support from shareowners.
Daiwa Launches Japan's Newest Socially Responsible Investment Fund
The new Daiwa SRI Fund will focus not only social and environmental issues, but also corporate
integrity, ethics compliance, and transparency.
Avon Shareowners Withdraw Two Resolutions Before Annual Meeting
Avon agreed to hold annual board of director elections and to phase out phthalates from its
products, prompting shareowners to withdraw their resolutions on these two issues.
Three More Companies Address Climate Risk, So Shareowners Withdraw Resolutions
Shareowners withdrew climate change resolutions at Southern Company and TXU, which agreed to issue
reports, and at Reliant, which agreed to expand disclosure.
First-Year Resolution on HIV/AIDS Garners Significant Support at Pharmaceuticals
The HIV/AIDS pandemic threatens human life and shareowner value, according to a shareowner
resolution filed at companies in the pharmaceutical, oil, and beverage sectors.
Sustainability Report Awards Reward Disclosure on Environmental, Social Performance
Canada-based Suncor and Dofasco, Texas-based Dell and Kinko's, and Michigan-based Ford win
sustainability reporting awards from CERES and ACCA.
The Diversity of Diversity Best Performance Rankings
A comparison of the DiversityInc list of the top 50 companies for diversity and a report from
Diversity Best Practice and Business Women's Network that reviews 45 such lists.
Tyco Recommends Vote in Favor of Shareowner Resolution, Joining Three Others
While companies routinely recommend voting against shareowner resolutions, four companies so far
this proxy season have bucked this standard approach.
Women Directors Rare Even in Developed Economies, According to First Global Study
A UK-based socially responsible investment research firm study of companies in global developed
economies finds only seven percent of board seats occupied by women.
Thirteen Pension Funds Call on SEC to Require Disclosure on Climate Change Risk
Institutional investors ask the Securities and Exchange Commission to issue a clarification that
climate change is a material risk which must be disclosed in filings.
Oekom Rates Food and Beverages Industry Average in Sustainability Performance
The example of Starbucks illustrates how Oekom Research rates food and beverage companies as
average performers in social and environmental sustainability.
Stock Option Dilution Rose But Granting Slowed in 2003, Anticipating Mandatory Expensing
Right after the Financial Accounting Standards Board called for mandatory option expensing, the
Investor Responsibility Research Center released its yearly dilution study.
Social and Environmental Best Practice Linked to Financial Outperformance in Electric Sector
Innovest releases another sector report correlating progressive social, environmental, and
governance practices and policies with financial outperformance.
Socially Responsible Investment Runs the Gamut on Animal Welfare and Testing
Investors who prioritize respect for animals have a range of options, from funds that use
shareowner action alone to specialty SRI firms with stringent animal welfare screens.
Nuke Producer GE Energy Buys Solar Producer AstroPower
The GE Energy buyout of AstroPower represents a Catch 22 for social investors, who generally seek
to support renewable energy but screen GE for its nuclear production.
Diversifying Asset Allocation in Socially Responsible Individual Retirement Accounts
Diversifying in SRI IRAs can be challenging, as asset allocation in retirement accounts has few
Into Africa: The Paradox of Socially Responsible Investing in the Developing Continent
To support sustainability in Africa, social investors can invest directly outside the SRI
community, or else they can pursue community investment and shareowner action.
Wisconsin Energy Reaps External and Internal Benefits from Social and Environmental Reporting
Wisconsin Energy won accolades for its Global Reporting Initiative-based report, which also raised
internal awareness of social and environmental performance.
A Passage to India: Report Asks If BT Offshoring Is Socially Responsible
A recent report by SustainAbility assesses whether offshoring and corporate social responsibility
are compatible, focusing on the case of British Telecom.
Business Group Links Social and Environmental Performance with Shareowner Value
A recent Global Environmental Management Initiative report adds to the growing body of evidence
correlating social and environmental performance with shareowner value.
Occidental To Adopt Formal Human Rights Policy, Shareowners Withdraw Resolution
Successful shareholder action results in steps towards Occidental formalizing its human rights
MMA Praxis Eliminates Soft Dollar Arrangements
MMA Praxis joins Domini in disavowing soft dollar use; other socially responsible investment firms
continue the practice within legal limits while some consider cessation.
Starbucks Provides Loan Capital for Coffee Farmers
Starbucks is providing a $1 million loan to the Calvert Foundation to support microfinance to Latin
American coffee farmers, and it answers critics of its Fair Trade commitment.
Socially Responsible Index Funds: Passive Management Means Less Expense
SRI index funds offer competitive performance with lower expense compared to actively managed SRI
Disney Vote and California Bill May Affect SEC Shareowner Director Nomination Rule
The significant withhold vote at Disney and a bill being considered by the California State
Legislature may have a bearing on the SEC's proposed rule on shareowner director nominations.
Report on SRI Research Organizations Characterized as Valuable But Also Controversial
A recent report from SustainAbility, onValues, and Mistra provides valuable insight on SRI research
organization methodologies but lacks some needed transparency.
Welcome to the Jungle: CSR Questionnaire Incompatibility Hampers Applicability
A Nordic Partnership report finds wide variance in questions posed in corporate social
responsibility surveys, calling into question their comparability and applicability.
Piper Jaffray Consulting Division Marries Best Asset Managers with Customized Social Screening
Socially responsible investment consultant can apply social screens to best asset managers, even if
they do not usually practice SRI.
Report Favors International Regulation Over Voluntary Corporate Social Responsibility
A recent report by Christian Aid argues against the voluntary aspect of CSR and for international
regulation. Part one of this two-part article discusses support for the report; part two presents
criticism of the report.
Study Finds Loans to Low-Income Borrowers No More Risky than Conventional Loans
Research released yesterday finds that community development financial institutions serving
low-income clients have a lower rate of loan write-offs than mainstream banks.
Five Companies Comply with Terms of Shareowner Resolutions in One Week
In less than seven days, Dover, Masco, Cinergy, AEP, and Bank of Montreal all abided by the
requests of investors, a major achievement for shareowner action.
Fifth Third Bank Shareowners To Decide on Sexual Orientation Non-Discrimination Policy
In an unusual move, Fifth Third Bank is leaving it up to its shareowners to decide by their proxy
vote whether or not the company will adopt a sexual orientation non-discrimination policy.
Moving From the Business Case for SRI and CSR to the Fiduciary Case
The business case for socially responsible investing and corporate social responsibility may not
drive individual investors, but the fiduciary case engages institutional investors.
CRA Fund Helps Transform Environmental Liabilities Into Social Assets
The CRA Fund supports environmental remediation of brownfield sites, helping transform them into
socially beneficial projects.
Cintas Defamation Suit Challenges Shareowner Free Speech Rights
Cintas files a defamation lawsuit against Tim Smith of Walden Asset Management for alleging that
the company uses sweatshop labor in Haiti.
Meritas Launches First Canadian SRI Rebalancing Fund of Funds
The Meritas Balanced Portfolio Fund uses Modern Portfolio Theory to build a single fund that
balances asset allocations between its five existing funds.
ExxonMobil Contributed Five Percent of Global Greenhouse Gas Emissions in Last 120 Years
Friends of the Earth releases two studies that attribute one twentieth of global climate change to
ExxonMobil. The company questions these findings, as it questions climate change.
Study Dissects SRI Performance by Different Social and Environmental Factors
A Pictet study correlates financial performance with specific aspects of socially responsible
investment, such as corporate governance and stakeholder relations.
Community Investment Advocates Question Bank of America/FleetBoston Merger
Bank of America is responding to critics of its proposed merger with FleetBoston.
Book Review--The Corporate Responsibility Code Book
This book is no thriller, but it is indispensable for anyone seeking to grasp the complex landscape
of the multitudinous tools that measure corporate social responsibility.
Sarbanes-Oxley Fails to Kill Corporate Insider Loans, Some of Which Pay Posthumously
A new study from The Corporate Library documents the prevalence of insider loans, and the
persistence of benefits beyond the grave.
Gazing in the Crystal Ball: 2004 Preview of Socially Responsible Investing Performance
An overview of the trends that may affect SRI performance in the year ahead, among other issues to
mull over when considering socially responsible investment.
SRI Domestic Equity Funds Edged Out By Their Non-SRI Counterparts in 2003
Socially responsible investment domestic equity mutual funds slightly lagged their non-SRI
counterparts, while the Calvert Social Index outpaced the S&P 500 for the year.
Book Review--True to Our Roots: Fermenting a Business Revolution
Paul Dolan, president of Fetzer Vineyards, promotes sustainable business practices by relating his
personal transformation committing to organic growing practices.
World Economic Forum Survey Projects Mainstreaming of Corporate Citizenship
The report credits socially responsible investing, among other trends, for influencing mainstream
investors to take corporate citizenship more seriously.
Robert Zevin, a Father of Socially Responsible Investing
Robert Zevin helped establish socially responsible investing by fusing traditional investment
theory with social justice advocacy, among many other achievements.
Film Depicts Environmental and Social Reporting Disappearing in SEC Black Hole
A documentary film by environmental attorney Sanford Lewis reveals the SEC's failure to enforce its
rules requiring companies to disclose environmental and social liabilities.
Many Companies Cannot Verify Whether Their Palm Oil Is Produced Sustainably
An ISIS Asset Management report finds that few companies can trace the source of their palm oil up
their supply chain to confirm whether or not it is produced sustainably.
Book Review--The Company: A Short History of a Revolutionary Idea
This new book betrays the promises of its title except in its brevity, according to Peter Kinder,
president of KLD Research and Analytics.
‘Tis the Season to Bar Sexual Orientation Discrimination
The New York City Employees Retirement System files a shareowner resolution asking 11 Fortune 500
companies to explicitly bar sexual orientation discrimination.
Underreporting of Material Environmental Liabilities Persists
Despite clear documentation of the problem, multiple solutions proposed, and petitioning to enhance
enforcement, corporate underreporting of material environmental liabilities continues.
Top Five Social Investing News Stories of 2003
The major social investing news stories of the year include SEC reforms, stock exchanges mandating
social, environmental, and corporate governance practices, and climate risk assessment defined as a
2004 Proxy Season Glimpse: HIV/AIDS Shareowner Campaign Shifts from Conflict to Collaboration
The 2004 proxy season has commenced with an instance of cooperation between a company and its
shareowners (Part two of a two-part article.)
2003 Proxy Season Roundup: Shareowner Action Success Measured On and Off the Record
While the 2003 proxy season produced some impressive numbers, shareowner advocates also define
success in ways that are not easily quantifiable (Part one of a two-part article.)
Board Pay, Board Say
Two new reports assess the past year for directors of corporate boards, examining issues such as
director pay, workload, and independence.
Book Review--How Does it Pay to Be Green?
An empirical study finds a positive relationship between environmental and economic performance
when environmental strategies are factored into business decisions.
Women Sit in Less Than a Seventh of Fortune 500 Board of Director Seats
According to a new Catalyst report, women will inhabit less than a quarter of Fortune 500 board
director seats by 2023, though regulations and shareowner action may change this.
US Community Investment Assets Nearly Double Over the Past Two Years
Community development financial institution assets rise 84 percent from 2001 to 2003, making
community investment the fastest growing segment of socially responsible investing.
Watchdog Fund Established to Take a Bite Out of Corporate Governance Malfeasance
The new investment vehicle is part mutual fund, part shareowner advocate, and part hedge fund.
Morgan Stanley Study Correlates Sustainability with Financial Outperformance
Morgan Stanley's joint study with Oekom Research finds that sustainability leaders in the MCSI
World Index financially outperformed sustainability laggards over the past four years.
From Pallet Shacks to Cinderblock Homes: Microfinance Loans on the Mexican Border
CHF/Mexico addresses an acute housing shortage by providing technical assistance and affordable
loans to low-income families.
Two New Real Assets Funds Attract $25 Million in Their First Two Months
The Real Assets Social Leaders Fund and Social Impact Balanced Fund are off to a flying start,
re-invigorating social investing in Canada.
Book Review--The Sustainable Company: How to Create Lasting Value Through Social And Environmental Performance
A new book makes the business case as well as the moral case for sustainability through socially
and environmentally responsible business practices.
UN Institutional Investor Summit Considers Opportunities of Addressing Climate Change
Institutional investors make the business case and investment case for assessing, reporting, and
mitigating climate change in a summit at the UN (part two of a two-part article).
Institutional Investors Send Wall Street Wake-Up Call to Address Climate Risk
At a UN Summit, state treasurers and other institutional investors issue a ten-point call for
action for companies, investment analysts, and fiduciaries to address climate risk (part one of a
Carmakers and Carbon Constraints: Who Will Capitalize and Who Will Cave?
A new report assesses ten auto companies’ relative readiness for reduced carbon emissions and
increased fuel efficiency regulations in Japan, the EU, and the US.
Australian SRI Funds Outperform Their Benchmark Over the Short- and Long-Term
A new AMP Henderson report finds Australian socially responsible investing outperforms the S&P/ASX
200 over one-, two-, three-, and five-year periods.
Johannesburg Securities Exchange to Introduce Socially Responsible Investing Index
In addition to requiring listed companies to comply with King II codes, JSE is also launching an
SRI index based on triple bottom line and corporate governance practices.
Survey Says: NGOs Believe Corporate Social Responsibility Reports That Reveal Faults
In a recent survey, nongovernmental organizations say they believe CSR reports that disclose
noncompliance, poor social or environmental performance, and big challenges.
Socially Responsible Investments Remain Largely Untouched by Late Trading Scandals
The SRI industry's long-term investment horizons and ethical underpinnings insulate it from the
market timing debacle, though it may be impossible to escape all its effects.
Innovest’s Eco-Enhanced Portfolios Outperform Their Benchmarks
Contra Costa County Employees’ Retirement Association achieves both actual and simulated
out-performance by tilting its portfolios using Innovest’s EcoValue21 ratings.
As, Bs, and Cs: New Rating Tool Grades Community Development Financial Institutions
The National Community Capital Association launches CARS: the CDFI Assessment and Ratings System.
British American Tobacco Reluctantly Exits Myanmar
Bowing to pressure from activists and the UK government, BAT sold its interest in its Myanmar
operation, though it will continue to license its cigarette brands there.
European Socially Responsible Investment Retail Funds Increase in Number, Decrease in Assets
A recent study reports that the number of European SRI retail mutual funds increased since the end
of 2001 while the amounts of assets held by them decreased.
Social Investment Forum’s Trends Report Tracks Rises and Falls in SRI
Assets in screened portfolios grew since 2001, while overall assets in socially responsible
investments fell during the same time period, according to SIF’s 2003 Trends Report.
Book Review--The Soul of Capitalism: Opening a Path to a Moral Economy
William Greider’s new book seeks to explain the contradictions between capitalism and social
responsibility, and then seeks to reconcile these differences.
Moskowitz Prize-Winning Study Correlates Lower Corruption With Higher Shareowner Value
The Social Investment Forum awards its annual Moskowitz Prize to a study that correlates lower
political corruption with higher corporate value in international markets.
SRI Short Selling: an Oxymoron, or Mutually Reinforcing Strategies?
Socially responsible investing strategies rarely include short selling, though this tactic may in
fact eclipse other SRI strategies in its ability to effect change.
Vanguard Fund Generates Strong Returns by Replicating the Calvert Social Index
The Vanguard Calvert Social Index Fund outperformed more than four-fifths of its peers in the
overall US mutual fund universe with similar investment styles over the past year.
Community Development Financial Institutions Help Rebuild Post-9/11
The National Community Capital Association unveils a report on the impact of CDFIs on post-9/11
Give Peace a Chance: Support Women in Business
The Business Council for Peace helps women create sustainable businesses by providing the
technology for them to train in computer and entrepreneurial skills.
Is Molina Healthcare a Socially Responsible Investment? Don't Ask The Company
The president and chairman of Molina Healthcare leaves it up to investors to decide for themselves
if the company is a socially responsible investment.
Resolutions Ask TIAA-CREF to Practice the Good Corporate Governance It Preaches
TIAA-CREF faces several resolutions asking it to reconcile its strong corporate governance advocacy
with what filers describe as its own weak governance policies.
Socially Responsible Investment Through 401k Plans Comes of Age
Since the late 1990s, there has been a boom in socially responsible investment through 401k
SEC Opens Proxy to Shareowner-Nominated Directors, Critics Bemoan Triggers, Thresholds
New SEC rules will allow shareowners to use companies' proxies to nominate director candidates, but
corporate governance advocates point out potential pitfalls.
Book Review--The Naked Corporation: How the Age of Transparency Will Revolutionize Business
In making the business case for corporate transparency, a new book cites studies on the competitive
performance of socially responsible investment.
Social Investors Recommend Best Practice for Coalbed Methane Extraction
A shareowner action campaign proactively asks companies to practice environmental and social
responsibility in extracting coalbed methane.
Walden Asks Companies to Allow Shareowners to Ratify Auditors
Walden Asset Management wrote letters to 45 companies asking them to allow shareowners to ratify
the board's choice of auditor, a procedure that is routine.
European Smallcap SRI Index Launches
Kempen Capital Management and SNS Asset Management fill a market gap with what they call the first
SRI index in the world to focus on small capitalization companies.
ISIS Product Offers Shareowner Action without Portfolio Management
Institutional investors can use ISIS's Responsible Engagement Overlay to promote better social and
environmental performance at companies through dialogue, proxy voting, shareowner resolution
filing, and research.
Dow, GM, and Johnson & Johnson Lead the Charge to Green Power
The 12 members of the Green Power Market Development Group have purchased almost 100 megawatts of
green power from renewable resources since last summer.
Identifying the Effects of Interlocking Directorships on Board Independence
A new report from The Corporate Library uncovers ways interlocking directorships impede board
independence, though shareowner activists could leverage this interlock to push corporate
Sustainable Computer Producers Perform Better than Less Sustainable Counterparts
Innovest adds social considerations to its environmental assessment in its recent computer industry
report, and sustainability still outperforms business-as-usual.
SRI Money Market Accounts Earn Competitive Financial Returns
In addition to offering social and environmental returns, socially responsible investing money
market accounts generate competitive financial returns compared to their non-SRI counterparts.
Book Review--24 Days: How Two Wall Street Journal Reporters Uncovered the Lies that Destroyed Faith in Corporate America
A new book tells the behind-the-scenes story of Enron's demise and the detective work that revealed
the chicanery in Enron's corporate practices and culture.
FTSE4Good Indexes Add Bank of America, Delete Molson and ConocoPhillips
As a result of its semiannual review, FTSE4Good adds Bank of America, a company deleted by DJSI,
demonstrating yet another distinction between the indexes.
The Implications of the Nike and Kasky Settlement on CSR Reporting
Although Nike reached an agreement with Marc Kasky to end his lawsuit, the settlement's effect on
corporate social responsibility reporting remains to be seen.
Shareowner Action Prompts Procter & Gamble to Sell Fair Trade Coffee
In response to a shareowner action campaign, Procter & Gamble launched a Fair Trade Certified
coffee; critics challenge the company to commit more fully to sustainability.
Ave Maria Funds Promote Catholic Values Through Morally Responsible Investing
Ave Maria Mutual Funds, which screen abortion, pornography, non-marital partner benefits, and
Planned Parenthood contributors, represent another side of SRI.
Dow Jones Sustainability Indexes Add Toyota, HP, Eject DaimlerChrysler, Bank of America
After its annual review, DJSI adds companies it deems as having strong sustainability performance
to its index universe, and deletes companies that lag in sustainability practice.
Boise's Plan to End Old Growth Harvesting: Trend-Setting or Too-Little, Too-Late?
Boise Cascade bans logging old growth forests in the US and deters it elsewhere, but other
companies may not jump on this bandwagon if its time has already passed.
Environmental Best Practice Tied to Financial Outperformance in Food Retail Industry
Innovest's latest report shows that environmental leaders in the global food and drug sector
financially outperform the sector's environmental laggards.
Book Review--The Planetary Bargain: Corporate Social Responsibility Matters
Author Michael Hopkins' ideas about the global spread of corporate social responsibility are
obscured by a lack of precision in revising and updating this book that was originally published
five years ago.
Morningstar Japan Launches First SRI Index Covering Japanese Market Exclusively
The introduction of an socially responsible investing index by Morningstar Japan represents a
significant milestone in the development of SRI in Japan.
Will Ford's Transparency Affect Its Performance?
While lauding the transparency of Ford's 2002 Corporate Citizenship Report, analysts caution that
it remains to be seen whether such reports and the Global Reporting Initiative reporting guidelines
will help improve corporate performance (part two of a two-part article).
Report Finds Oil Companies' Social and Environmental Practices Unsustainable
Oekom Research's report criticizes the oil industry's uneven progress in sustainable development,
but those in the industry question the report's findings.
Domini Social Bond Fund Supports Community Development Financial Institutions
The Domini Social Bond Fund allocates almost seven percent of its assets to CDFIs while also
performing like a classic intermediate-term bond fund.
Critics Find Study of SRI Underperformance Fundamentally Flawed
A recent Wharton School study that finds underperformance by socially responsible investment mutual
funds is based on an unsound research design, according to critics.
A High Flyer and a Smooth Sailer Top SRI Equity Funds
Two socially responsible investment equity funds place in the first and second percentiles of their
peer funds over a five-year period.
The ABCs of SRI Mutual Fund Share Classes
The complexities of different share classes, or fund loads, can confuse investors--brokers and
finance writers can either help clarify and further obfuscate.
Book Review--The New Financial Order: Risk in the 21st Century
A Yale economist proposes innovative ways to use risk management as a tool to counteract economic
inequality and livelihood uncertainties, among other things.
Survey Finds SRI Fund Managers See Bright Future in Europe
A recent survey of fund managers conducted by UK Social Investment Forum and Thomson Extel reveals
high expectations for significant SRI growth in Europe. Those surveyed also ranked top SRI firms
ACCION Creates Self-Sufficiency by Providing Microfinance to Microenterprises
Social investors can support ACCION's international and national microlending initiatives, which
seek to break the cycle of poverty through several mechanisms.
SEC Report on Shareowner Nomination of Directors Opens Some Doors, But May Close Others
A recent SEC report recommends several solutions for allowing shareowners access to director
nominations, but social investors worry it may not solve some problems.
Philadelphia Innovates Solutions to Predatory Lending for Low- and Middle-Income Homeowners
Two programs supported by the city of Philadelphia help low- and middle-income homeowners exposed
to predatory lending when seeking loans to rehabilitate their houses.
Sustainability Leaders in Food Sector Produce Healthy Returns
Innovest finds that global food products companies with higher sustainability ratings perform
better financially than companies with weaker environmental performance.
Pension Funds and Mutual Funds Influence Their Holdings Differently
Academic studies discern between how pension funds and mutual funds wield influence as
institutional shareowners, but the studies lack methods sophisticated enough to evaluate the
effects of SRI.
McDonald's Phases Out Animal Growth Promotion Antibiotics from Global Supply Chain
McDonald's, which is often the first in its sector to introduce sustainable practices, will end use
of animal growth promotion antibiotics, but does this make the company socially responsible?
Apria Democratizes Director Elections
Apria Healthcare Group set a precedent as the first company to allow shareowners to nominate
candidates for board of director elections.
Attitudes and Actions Behind the Growth of SRI in Japan
Alongside the highly visible events that demonstrate the spread of socially responsible investing
in Japan are shifting attitudes and less visible actions (part two of a two-part article).
The Sun is Rising on SRI in Japan
A major Tokyo public pension fund commits to socially responsible investing, an indication of
Japan's growing interest in SRI (part one of a two-part article.)
Investors Managing $3 Trillion Back Blair's Extractive Industries Transparency Initiative
Developing countries are being prodded to support oil and mining companies disclosure of payments
the companies make to governments.
First Dutch Passively-Managed DJSI-based Index Fund Launched
Theodoor Gilissen Bankiers has launched a passively-managed fund that tracks a Dow Jones
Sustainability Index, the first such product in the Netherlands.
Two Environmental SRI Funds Generate Attractive Returns
In the midst of a stagnant economy, two SRI funds that invest in environmental best performers have
generated year-to-date returns in the 20- to 35-percent range.
Shareowner Advocates Tell SEC How Best to Democratize Board Election Process
The question is not whether shareowners should have access to the proxy to nominate directors, but
what percentage of stock ownership qualifies shareowners to make nominations.
Catholic Institutional Investors Launch an SRI Fund of Funds Hedge Fund
In order to fill a market niche, five Catholic healthcare organizations joined forces to launch an
SRI fund of funds hedge fund that is available to other institutional investors.
FedEx and UPS Green Up Their Fleets With Hybrid Electric and Fuel Cell Vehicles
FedEx introduces hybrid electric delivery vehicles, while UPS is investing in fuel cell technology.
Blacklisting, Voicetracking, and Payola: Clear Channel and the Effects of Media Consolidation
Shareowner activists ask Clear Channel to ban blacklisting, while musicians and other activists
oppose FCC plans to deregulate media industries.
TIAA-CREF Adds Positive Screens and Replicates Russell 3000 Performance
TIAA-CREF constitutes its Social Choice Equity Fund based on the KLD Broad Market Social Index to
track the returns of its new benchmark, the Russell 3000 Index.
Increasing Shareowner Action Fuels Record Proxy Season
Shareowners are increasingly recognizing and practicing their right to influence corporate
practices and policies by filing and voting on shareowner resolutions.
Socially Responsible Investing in 529 Funds Requires Some Savvy
There are now three SRI options for 529 college savings plans, though ascertaining how best to save
for college in a socially responsible way may require professional advice.
Report Asks When ExxonMobil Will Wake Up to Climate-Related Risks
For the second year in a row, a report tells ExxonMobil shareowners to beware of the significant
risks the company faces in terms of how the oil giant addresses climate change.
Investors Press Companies on Stock Options Expensing
A shareowner resolution on options expensing is garnering support, and a California pension fund
has released a study on how to best expense stock options.
Shareowners Press Avon to Walk the Walk
Shareowners vote overwhelmingly for board independence at Avon while questions about potential
carcinogens in its products linger.
Canadian Greenhouse Gas and Toxic Emissions Resolution Garners Near Record Support
A near majority of IPSCO shareowners voted in favor of a resolution asking the company to report on
its greenhouse gas and toxic emissions.
The Switch to Socially Responsible Investing Affords Choice and Confers Power
The continuation of one investor's story of how he chose SRI mutual funds, and his reflections on
the power of socially responsible investing (part two of a two-part article).
The Benefits and Obstacles of Switching to Socially Responsible Investing
One investor's story of the process of shifting mainstream investments into socially responsible
investment mutual funds (part one of a two-part article).
Innovest Report Identifies Business Risk of Genetic Engineering for Monsanto Investors
The controversy surrounding genetic engineering creates substantial risks to shareowner value at
Monsanto, according to a new report from Innovest.
Will Dover Heed Shareowners' Loud Call for Sexual Orientation Nondiscrimination?
Almost half of Dover shareowners want the company to explicitly add sexual orientation to its
nondiscrimination policy, but the company has yet to commit to such a decision.
The Answer to the Coffee Crisis? Farmers Want Fair Price, Kraft Says Increase Demand
Calls for fair prices and Fair Trade Certified coffee by social investors, coffee farmers, and
Oxfam go unheeded by Kraft.
Ford and Fannie Mae Top List of 50 Best Companies for Diversity
DiversityInc's new corporate survey strives to identify the business value of diversity.
Is Nike Guaranteed Free Speech? The Supreme Court Will Decide
Advocates of socially responsible investment and corporate social responsibility on both sides of
the Atlantic weigh in on the implications of Nike's Supreme Court case.
Earth Day Founder Not the Only One to Link Climate Change and Investing
The voices of institutional investors representing public pension funds join those from the
insurance industry to advance a business case for addressing climate change.
The Effects of 9/11 and the Iraq War on Islamic SRI Funds
Socially responsible investment funds that reflect Islamic values shed light on the issue of
anti-Islam sentiment, which has run rampant after 9/11 and through the Iraq War.
Is the Sun Setting on AstroPower?
Once the darling of the green investors, AstroPower's share price has plummeted precipitously over
the past year.
Back in the U.S.A.
A combination of investors, activists, and congresspeople are working to make sure U.S. companies
keep paying their share of taxes.
Pay Dirt or Payola? How Halliburton Strikes it Rich
A number of practices have generated profits as well as controversy for Halliburton, the company
where Vice President Dick Cheney served six years as CEO.
Healthy Living Sector Produces Healthy Returns
Two SRI funds find common ground in their success from investing in the healthy living sector.
Return to Sender: Dell Inches Toward a Computer Take-Back Recycling Program
Calvert-led coalition conducts shareowner action urging U.S. computer companies to implement
take-back programs for recycling obsolete computers and components.
Rebuilding Iraq: Humanitarianism Versus Opportunism
Socially responsible investing supports companies and nonprofit initiatives that advance
humanitarian efforts to rebuild Iraq and avoids investment in profiteering companies.
When Lightning Strikes: Portfolio 21 Applies The Natural Step's Sustainability Theories
Portfolio 21 applies environmental screens based on the principles of the Natural Step, which
PepsiCo Shareowners Will Address the Business Risks of Water Scarcity
The SEC is requiring PepsiCo's to allow its shareowners to vote on a resolution regarding the
business risks of water scarcity.
The Key to Director Independence: Equal Access to Corporate Board Elections
A growing number of investors are demanding that shareowners be given the right to nominate
candidates for board of director elections.
Socially Responsible Investment Firms Respond to New War with Tried and True Tactics
SRI firms are sticking with their traditional strategies, such as screening, community investment,
and support for humanitarian aid, in response to war.
Watching the Public Company Accounting Watchdog
The Public Company Accounting Oversight Board Association is slowly getting to work and it will be
scrutinized by the newly-formed Association for Integrity in Accounting.
Tobacco-Free Investments Avoid an Industry of Smoke and Mirrors
As court cases related to deception by the tobacco industry mount, individual and institutional
investors have options for avoiding exposure to tobacco stocks.
Oekom Applauds Insurers Employing SRI but Chides Rest of Sector's Non-Transparency
Lack of transparency prevented the German corporate research firm from conducting corporate
responsibility ratings on the majority of global insurance companies.
Mutual Fund Industry Takes Last Stab at Blocking Proxy Voting Disclosure
The Investment Company Institute, the mutual fund industry trade group, continues to lobby against
new SEC rules that require disclosure of proxy voting policies and records.
Investing in Wind Energy Is Not a Breeze
With few pure players in the domestic wind energy sector, investors who want exposure to wind
energy must commit their money overseas.
Individual Retirement Accounts Meet Socially Responsible Investing
IRAs that employ socially responsible investing strategies can help create a more secure financial,
social, and environmental future.
The Black and White and Gray Areas of Military and Weapons Screening
Most social investors screen out companies that derive revenue from military-related products and
services or weapons manufacturing. However, a zero tolerance screen is unusual.
ExxonMobil Receives 23 Shareowner Resolutions on Issues Ranging from Climate Change to Corporate Governance
Concerted shareowner action this proxy season targets ExxonMobil over such issues as its refusal to
address climate change and its coupling of CEO and Chairman of the Board.
Carbon Disclosure Project Informs Investors of Climate Change Risks and Opportunities
A new report finds that companies stand to gain competitive advantage by addressing climate change.
Calvert Foundation Offers Community Investment in Self-Directed IRAs
The Calvert Foundation has partnered with PENSCO Trust Company to offer Calvert Community
Investment Notes for use in self-directed individual retirement accounts.
Meritas Launches Four New SRI Funds for Canadian Group Pension Plans
A mainstream group pension plan provider in Canada contracted Meritas Financial to create and
manage four new SRI mutual funds for retirement plan investors.
Three-Year Mutual Fund Performance Bodes Well for SRI Mutual Fund Firms
Huge net inflows at several SRI mutual fund firms result in overall net inflow for all SRI mutual
SRI Investors Find Managers Funds Meets Current Income Requirements
The mortgage-backed securities in the Managers Funds Short Duration Government Fund help it achieve
solid financial performance.
SEC Tells Mutual Funds To Disclose Their Proxy Votes
The Securities and Exchange Commission voted in favor of rule changes that require mutual fund
companies to disclose their proxy voting policies and their actual proxy votes.
Global Warming Shareowner Resolution Filed at "Filthy Five" Electric Companies
A coalition of institutional investors has filed a shareowner resolution calling on five electric
power producers to report on the business risk of their greenhouse gas emissions.
Sierra Club Launches SRI Mutual Funds
The Sierra Club is harnessing its name recognition and expertise on corporate environmental
performance with its launching of an SRI equity mutual fund and an SRI balanced mutual fund.
Top Five Social Investing News Stories of 2002
The major social investing news stories of the year include significant corporate governance
reforms and the success of community investment.
Presbyterian Funds Honor Their History in SRI by Performing Well in the Present
New Covenant Funds, which trace its SRI roots back well beyond its 1999 inception date, offers
several mutual funds that have been performing better than their peers.
Social Investors Spur Social and Environmental Upgrades at Intel
Over the past five years, Intel Corporation's program of engagement with the social investment
community has helped the company boost its competitive advantage.
Italian SRI Indexes Benchmark European and Global Equity and Bond Markets
Milano, Italy-based E. Capital Partners manages seven SRI indexes.
Record Shareowner Vote Prompts Cracker Barrel to Bar Sexual Orientation Discrimination
Reversing more than a decade of opposition, Cracker Barrel's parent company bars sexual orientation
discrimination in it Equal Employment Opportunity policy.
DJSI Adds "Sin" Stocks
DJSI employs a best-of-sector strategy while FTSE4Good indexes exclude "sin" sectors, illustrating
two widely-used approaches for benchmarking sustainability.
BP Abandons Group Lobbying for Oil Drilling in Arctic National Wildlife Refuge
British oil company chooses to disengage from the Arctic Power lobby group and will only seek to
drill in the ANWR if the people and the politicians endorse it.
Moskowitz Prize Pays Tribute to Evidence of SRI Funds' Competitive Performance
A Dutch paper documenting no significant difference between returns from SRI funds and conventional
mutual funds wins this year's coveted Moskowitz Prize.
The Ethical Investment Group, Canada's Socially Responsible Investment Club
Initially spurred by a popular trend in the 1990's, a Montreal-based investment club continues its
commitment to socially responsible investment.
SRI Mutual Funds Go Low-Tech
SRI mutual funds that invest in large-capitalization companies weather the bear market by avoiding
sagging technology holdings.
Talisman Leaves Sudan But Remains on Social Investment Nix List
Canadian SRI rating agency recommends investors continue to avoid investment in Talisman due to
ongoing human rights and environmental concerns.
Staples Commits to Recycled Paper
Spurred by social investors and environmental groups, Staples announces an environment-friendly
paper procurement policy.
DJSI and FTSE4Good Index Licensing Continues to Expand
Index-based separate accounts, certificates, and exchange-traded funds are among the products being
created based on these European SRI indexes.
SRI Index Fund Uses Overweighting and Underweighting to Fully Replicate S&P 500
Instead of screening companies in or out of the Total Social Impact Fund, this enhanced index fund
concentrates its holdings in positive social and environmental performers.
Seven New SRI Mutual Funds Launched by Seminal Canadian Investment Firm
Ethical Funds recently introduced seven new SRI mutual funds in response to investor requests and a
poll that shows overwhelming support for shareowner action in Canada.
Corporate Governance Now Rated by Mainstream Investment Research Firms
Mainstream investment research firms are now evaluating corporate governance as a potential
indicator of stock valuation.
Teamsters Union Joins Boycott of World Bank Bonds
The International Brotherhood of Teamsters joins six other international unions in refusing to
invest in World Bank bonds.
SRI Ratings Need Greater Independence and Standardization, Says New Dutch Guide
A new guide from Holland profiles 28 SRI rating agencies from around the world and recommends
greater independence, standardization, and transparency in SRI research.
Book Review: The SRI Advantage
In this important new book, author Peter Camejo makes a case for why socially responsible investing
strategies lead to higher returns than non-SRI strategies.
Survey Reveals High Investor Interest in Socially Responsible Investing
A recent Harris Interactive poll commissioned by the Calvert Group shows investor interest in SRI,
particularly in retirement plans.
Religious Mutual Funds Multiply in Numbers and Assets
Faith-based mutual funds represent a fledgling but fast-growing movement in the socially
responsible investment field.
SRI Mutual Funds Continue and Enhance Corporate Governance Screening
While the SRI industry has long screened for corporate governance criteria, the recent accounting
scandals have prompted the development of more comprehensive corporate governance screens.
Study Correlates Shareowner Rights with Strong Stock Price Performance
Through the 1990s, stock in firms that preserved shareowner rights outperformed companies that
bolstered management's power, according to an academic paper.
Americans Increasingly Interested in Corporate Citizenship
Survey indicates that Americans are looking for good corporate citizens, but are having difficulty
Stock Ownership Increasingly Black and White
Survey finds stock ownership among African-Americans is increasing while ownership among Whites has
Better Corporate Governance Pays Off for Large Companies in Emerging Markets
Recent study across global emerging markets finds large companies with good corporate governance
yield better bottom lines.
Human Resources Practices Linked with Shareholder Value
Research in North America and Europe by global consulting firm finds companies with certain human
resources policies can have over 25 percent higher market value.
Greener Multinationals Have Higher Market Value
A study tying high corporate environmental standards with greater market value adds to the growing
body of evidence that poor environmental performance does not pay.
Environmental Performance Linked to Shareholder Returns
Conclusions in a new report support the growing body of evidence that a positive relationship
exists between corporate environmental practices and financial returns.
Risking the Weather: The Insurance Sector Faces Climate Change
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.
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.