Responsible Investor

RI round-up April 11

RI’s bite-sized round-up of the week’s responsible investment news

Merrill Lynch, the US investment bank, has included Swiss ESG research house Asset 4 in a new open equity research service for buy-side clients. Merrill Open Minds provides access to Merrill’s proprietary research and that from seven independent providers in areas such as extra-financial information, corporate integrity risk, federal policy, healthcare, media, energy and consumer surveys. Both Goldman Sachs and UBS have launched similar open independent equity research services.
FTSE and Bolsas y Mercados Españoles (BME) have jointly launched the FTSE4Good Ibex index for responsible investment into the Spanish market with an initial listing of 27 companies. Jorge Yzaguirre Scharfhausen, head of equity unit at BME, said: “The launch of the index will contribute to a greater awareness of the importance of responsible investment in Spain, which the Spanish stock exchange wants to lead.”
The United Nations Environment Programmme Finance Initiative (UNEPFI) has held the European launch of its “Bloom or Bust” publication, which examines risks and opportunities for the financial services sector on biodiversity and ecosystem services (BES) issues. Download report
UNEPFI, in association with Eco-Frontier, Korea, will hold its Conference on Sustainable Finance in Seoul on 17 and 18 June. The event will include special joint sessions and a gala dinner with the Principles for Responsible Investment (PRI) and the UN Global Compact. The conference is expected to attract 200 participants from the finance sector, policy makers, academia and civil society. For further information,
Click here

South Africa’s Public Investment Corporation (PIC), the R719.8bn (€59bn) government owned fund manager, which runs assets including the Government Employees Pension Fund (GEPF), stepped up its corporate governance activism during 2007, voting against company boards more than 70 times at annual general meetings last year. See votes
IDEAM, the socially responsible investment (SRI) arm of Credit Agricole Asset Management (CAAM), has launched a water-themed equity fund, the CAAM Funds Aqua Global.
Ethos, the Swiss ethical investment foundation, is reportedly planning to oppose the election of Mathis Cabiallavetta, former vice-chairman at Marsh & McLennan, to the board of Swiss Re at next week’s AGM. Dominique Biedermann, executive director at Ethos told Financial News there had been certain “issues” at Marsh & McLennan subsidiaries during Cabiallavetta’s tenure, including a 2004 investigation by then New York State Attorney-General, Eliot Spitzer, into whether Marsh & McLennan had received payoffs from insurers that it recommended to clients. He said: “We are not sure he should join Swiss Re and we will vote against.”
A California Assembly bill that could have prevented CalPERS and CalSTRS from investing in private equity firms partly owned by sovereign wealth funds has been withdrawn. *Germany is drafting a new law *to allow it to block the purchase of more than 25 percent in certain German companies by investors from outside the European Union, a move perceived as targeting sovereign wealth funds, reports German newspaper Handelsblatt.

Not a member? Register here »