Member Sign In | Not a member? Register Now
RI round up: Feb 13
RI’s regular round-up of the most important responsible investment stories
An EU-backed consultation report and website has been launched as part of a project to explore the relationship between companies’ financial and non-financial performance and develop a European framework for improved company and investor dialogue. The Investor Value project, Led by Lloyds TSB and Telecom Italia with participation from the European Federation of Financial Analysts, CSR Europe and some of Europe’s leading business schools under the banner of the European Academy of Business in Society, seeks to demonstrate links between a wide range of environmental, social and governance factors and the financial performance of business. The project is one of a number of collaborative “laboratories” launched as part of the European Alliance for Corporate Social Responsibility. Günter Verheugen, Vice President of the European Commission, said: “I hope that the work of this laboratory can contribute to a quiet revolution in the way that enterprises who wish to can measure and communicate their non-financial performance, allowing investors and other stakeholders to use such information in their decision making processes. There is indeed no other powerful incentive to consider the strategic role of corporate responsibility than an investor able to value the role that it plays for the future prosperity and sustainability of a business.” The interim consultation report “Valuing non-financial performance” and feedback form are available online. The closing date is 28 February 2009. Link to site
Assets in UK ethical funds dropped by £4.4bn in the last quarter of 2008, down 7% on the previous
quarter, and 25% down on the same quarter in 2007, according to figures from the UK Investment Management Association.
However, the IMA said actual sales of UK ethical reached £54.8m, higher than the inflow of £20.5m seen in the previous quarter. The same quarter the previous year saw an inflow of £99.7m. Total net retail sales for ethical funds for the whole of 2008 were of £152.4 million. In 2007 net retail sales were £472.8 million.
French SRI funds kept assets under management stable at €20bn during 2008, resisting the market downturn and increasing their share of overall market share from 1 to 1.4 per cent, according to Novethic, the French SRI research house. It said equity funds represented less than half (45%) of the SRI market, with money market funds rising to represent 30%.
New York’s pension funds have called for reports from three of the largest US pharmacy chains on their responses to increasing pressures to stop the sale of tobacco products.
William Thompson, New York City Comptroller, has submitted the shareholder proposals to CVS Caremark, Rite Aid and SUPERVALU on behalf of the New York City Employees’ Retirement System (NYCERS), Teachers’ Retirement System for the City of New York (TRS), New York City Police Pension Fund, New York City Fire Department Pension Fund and the New York City Board of Education Retirement System (BERS).
It challenges companies’ decision to continue sell tobacco products, despite the banning of such products by other pharmacies and drug stores and rising regulatory, competitive and public pressures to halt sales of tobacco products.
Page 1 of 3 | Next »