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"Almost three-quarters of investors (74 percent) would be more likely to work with an advisor who could give them competitive investment returns from investments that also made a positive impact on society and 65 percent of investors would be more likely to stay with an advisor who could discuss responsible investing with them."
--
TIAA Global Asset
    Management
(USA)
    May 2016

"The vast majority of Canadian investors are interested in responsible investments (RI) that incorporate environmental, social and governance (ESG) issues, and they would be more likely to choose responsible investments if their financial advisor suggested suitable RI options for them."
--
Responsible
    Investment
    Association (RIA)
 
  (Canada)
    June 2017

"70% of people [in UK] want to invest ethically but the financial services industry is failing to respond." Referencing research by Abundance.
--
Acquisition
    International
   
(UK) June 2015

 

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Links may only be valid for a limited time   December 17, 2017

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2017 Engaged Tracking Carbon Rankings. "A transparent, public and standardised ranking of the world's largest companies and their carbon emissions."

[COMMENTARY] Engaged Tracking created its carbon tracking methodology with the help of the prestigious UK university, Imperial College. So, it has a great pedigree. Registration--which is free--is advised.
2017 Engaged Tracking Carbon Rankings, December 2017, Engaged Tracking, UK.

Influential investors urge 100 carbon-intensive companies to step up climate action. "Today, as many as 225 influential global investors with more than $26.3 trillion in assets under management pledged to engage with 100 corporates estimated to be responsible for around 85 percent of total global greenhouse gas emissions, so as to step up their ambition on climate action."

[COMMENTARY] This could greatly influence the direction of numerous companies responsible for global greenhouse gas emissions towards environmental sustainability. It came out in parallel with this week's Emmanuel Macron's One Planet Summit.
Influential investors urge 100 carbon-intensive companies to step up climate action, by Michael Holder, December 13, 2017, GreenBiz, USA.

Rediscovering our Moral Compass: JUST Capital’s 2017 List of America’s Most JUST Companies. "Today, JUST Capital, in partnership with Forbes, has released the 2017 list of America’s Most JUST Companies, our annual ranking of the largest publicly-traded U.S. corporations."

[COMMENTARY] With Forbes behind it, JUST Capital is getting much attention--and justifiably so. The 2017 'just' American companies' list is undoubtedly a key ranking for ESG-ethical investors to review. My concern with the list is its leaders are absolutely dominated by tech companies. Hence, it makes me a little leery as to its methodology.
Rediscovering our Moral Compass: JUST Capital’s 2017 List of America’s Most JUST Companies, December 2017, JUST Capital, USA.

Index Managers Taking Note as ESG Surges: Morningstar. "Morningstar finds biggest index managers have expanded their stewardship or corporate-governance teams."

[COMMENTARY] Morningstar's research findings are consistent with other similar research.
Index Managers Taking Note as ESG Surges: Morningstar, by Michael S. Fischer, December 8, 2017, ThinkAdvisor, USA.

More Advisers Expect Increased ESG Demand. "More than one-third, 35%, of asset managers have made the introduction of environmental, social and governance (ESG) investing a high priority, and another 57% say they are placing a moderate level of priority on the task. Together, this makes for a full 92% of asset managers on the path to or considering offering ESG investing options, according to the December issue of The Cerulli Edge – U.S. Edition."

[COMMENTARY] Finally, advisors are getting the message. Although I haven't seen other surveys suggesting this level of interest among advisors in ESG that Cerulli has found. We'll just have to wait for that. Nonetheless, this survey is good news for responsible-ethical investors and investments.
More Advisers Expect Increased ESG Demand, by Lee Barney, December 8, 2017, Plan Advisor, USA.

Can Index Funds Be a Force for Sustainable Capitalism? "According to my estimates for every dollar actively managed, either through high turnover diversified portfolios or through low turnover concentrated portfolios, there are three dollars in indexing or quasi-indexing. In such a market there will be tremendous rewards for market participants that can provide a differentiated service."

[COMMENTARY] This is a great piece by Harvard's Professor Serafeim on the way forward for ethical-ESG investing.
Can Index Funds Be a Force for Sustainable Capitalism? By George Serafeim, Harvard Business Review, December 7, 2017, USA.

DB advisers could be sued over climate change risk. "A report by environmental law firm ClientEarth states that trustees are legally required to respond to climate change risk that may have a material impact on the scheme."

[COMMENTARY] This will come as a shocker to the many pension fund trustees who've argued against the inclusion of ESG criteria in pension fund management. It appears that both the EU and UK are seriously desiring to include it in some way in their pension fund management directives. It will not be long before much of the rest of the world does the same.
DB advisers could be sued over climate change risk, by Alex Warnakulasuriya, December 1, 2017, Pensions Expert, UK.

Responsible investors have burning questions about cannabis. "Determining whether marijuana is a responsible investment depends on several fundamental factors that should be discussed with an investment professional versed in ESG analysis."

[COMMENTARY] How can you rate the ESG performance of cannabis stocks? This is becoming an important question for numerous ethical investors and advisors. In this article, Dustyn Lanz (chief operating officer of Canada's Responsible Investment Association) provides a good overview of many of the points to consider.
Responsible investors have burning questions about cannabis, by Dustyn Lanz, November 26, 2017, Investment Executive, Canada.

ESG investing and smart beta combination grows in popularity. "A survey by FTSE Russell shows nearly half (46 per cent) of global asset owners have an allocation to smart beta, and 41 per cent of those using it or considering its use anticipate applying ESG considerations."

[COMMENTARY] Again, more proof that global asset managers are utilizing ESG criteria.
ESG investing and smart beta combination grows in popularity, by Pauline Skypala, November 27, 2017, Financial Times, UK.

European pension funds ramp up responsible investments. "Six in 10 investors plan to increase their allocations to responsible investments over the next three years. The same proportion is concerned about the impact of scandals on the value of their holdings, according to a survey by Create-Research, the consultancy."

[COMMENTARY] Contrast the finding in this survey with that below where "82% [of advisors] also believe responsible investing has a long way to go before it becomes mainstream." Advisors are well behind institutional investors in their understanding of ESG!
European pension funds ramp up responsible investments, by Angus Peters, November 27, 2017, Financial Times, UK.

Responsible Investing Strategies Still a Challenge for Advisers--Q4 2017 Eaton Vance Advisor Top-of-Mind Index (ATOMIX) survey of 1,000 financial advisers.  "Only 21% of advisers surveyed reported feeling very well informed about responsible investing strategies, and the survey found accessing ESG data is a challenge for advisers...

Eighty-four percent of advisers reported their clients have at least some interest in responsible investing options. However, 82% also believe responsible investing has a long way to go before it becomes mainstream."

[COMMENTARY] The data in this survey clearly demonstrate -- yet again -- how out-of-touch are most financial advisors. Is it a simple case of 'I just don't want to bother?' Clearly, they aren't fulfilling their most important goals of 'knowing their client' and acting in the client's best interests.

Furthermore, the fact that about $1 in $5 in the US equity markets is now invested according to responsible investing principles appears to be unknown to the advisors surveyed. That fact alone says that it's already becoming mainstream -- and fast.
Responsible Investing Strategies Still a Challenge for Advisers, by Rebecca Moore, November 21, 2017, Plan Advisor, USA.

Top 10 brands with the best green supply chains. "The latest rankings on international brands' environmental performance in the China supply chain was jointly released by the Institute of Public & Environmental Affairs (IPE) and the Natural Resources Defense Council (NRDC).

The rankings are based on the Corporate Information Transparency Index (CITI), which collects public data on areas including government compliance, online monitoring, confirmed public complaint records, self-reporting and third-party environmental audits.

This year's ranking evaluated 267 international brands that run businesses in China. A total of 25 Chinese brands were ranked among the top 100."

[COMMENTARY] Apple, Dell, and Levi's are the top three companies.
Top 10 brands with the best green supply chains, by staff, November 20, 2017, China Daily, China.

EU considering sustainable investing as fiduciary duty for investors. "The European Union’s executive has decided to start work on an impact assessment to assess whether and how such a clarification could contribute to a more efficient allocation of capital, and to sustainable and inclusive growth."

[COMMENTARY] Various advisory groups to the EU are deeply concerned about the short-term focus of fund managers at the expense of long-term issues that are largely ESG related. It's likely the EU will formally clarify its policy and incorporate the importance of ESG measures in its guidelines. That'll be good news for all investors.
EU considering sustainable investing as fiduciary duty for investors, Susanna Rust, November 13, 2017, IPE, UK.

Advisors Failing To Talk ESG With Clients. "According to a recent study by Allianz Global Investors, only 14 percent of 1,061 investors with at least $100,000 in investable assets who were surveyed had had a conversation with their advisors about ESG investing, and 61 percent of the clients had to bring up the subject themselves."

[COMMENTARY] Is it that advisors don't keep up-to-date about investment performance -- so can plead ignorance about the generally comparable and good results of ESG investing -- or are they purposefully withholding important information from their clients? And, if so, why? I suspect it has mostly to do with not creating more work for themselves and present fees/commission arrangements. Tell me if I'm wrong. Anyway, they're not fulfilling what should be their number one mandate to know and do their best for their clients!
Advisors Failing To Talk ESG With Clients, by Karen Demasters, November 8, 2017, Financial Advisor, USA.

Just released: new surveys related to ESG investing.

[COMMENTARY] It's clear that the mainstream investment industry is adopting ESG criteria as important to investment analysis and attracting millennials to investing. However, I remain skeptical about much of the surveys' findings due to the definition of ESG and what people say and do being two quite different things. Also, some surveys seem to contradict each other in their results.

The following surveys have just been released on the subject.
Responsible Investing: the Evolution of Ownership, October 30, 2017, RBC Global Asset Management (GAM), Canada.
Money Meets Morals Study, press release, October 30, 2017, Harris Poll for Swell Investing, USA.
Responsible Investing & the Persistent Myth of Investor Sacrifice, October 31, 2017, Hermes Investment Management, UK.
New Equity Perspectives – Emerging markets, ESG and the active/passive debate, October 30, 2017, bfinance, UK.
Over one third of [UK] charities do not have an ethical investment policy, survey finds, October 30, 2017, Gabriel Research and Management, UK.
Commentary: What’s behind asset owners’ slow adoption of responsible investment, October 30, 2017, Pensions & Investments, UK.

McKinsey: ESG No Longer Niche as Assets Soar Globally. "More than a quarter of the $88 trillion assets under management globally are now invested according to environmental, social and governance principles known as ESG, a McKinsey & Co. study found."

[COMMENTARY] McKinsey doesn't seem to be referring to original work as the figures they're quoting appear largely from published works such as the 2016 Global Sustainable Investment Review. Perhaps they should state their sources. Anyhow, it's terrific they're engaged in promoting ESG!
McKinsey: ESG No Longer Niche as Assets Soar Globally, by Amy Whyte, October 27, 2017, Institutional Investor, USA.

Companies That Lead on Societal Impact Reap Financial Benefits. "Companies that outperform in industry-relevant environmental, social, and governance (ESG) areas boast higher valuation multiples and margins, all other factors being equal, than those with weaker performance in those areas, according to a new report by The Boston Consulting Group (BCG)."

[COMMENTARY] BCG's research shows that companies excelling in ESG outperform others in their respective industries in profit margins and stock prices, all else being equal! What more confirmation do companies need to optimally perform on ESG criteria? Likewise, investors who’ve been ignoring the importance of ESG should rethink their stance.
Companies That Lead on Societal Impact Reap Financial Benefits, press release, October 25, 2017, Boston Consulting Group, USA.

Climate risk exposure falls as companies boost green action. "Almost a quarter (23%) of companies have targets to move away from fossil fuels in energy consumption, while almost all (98%) have designated climate risk as a board or senior-management responsibility. The Carbon Disclosure Project's (CDP) annual analysis for 2017 further found another one in seven have agreed to set science-based targets to reduce emissions, while a separate three in ten plan to do so within two years."

[COMMENTARY] Despite the views of the Trump administration, it's apparent that numerous American businesses increasingly view climate change as serious!
Climate risk exposure falls as companies boost green action, by James Phillips, October 24, 2017, Professional Pensions, UK.

Three-quarters of companies don't acknowledge climate risks. "That is the stark conclusion of a new report from consultancy giant KPMG, which reveals that 72 percent of large and mid-cap companies worldwide do not acknowledge the financial risks of climate change in their annual financial reports."

[COMMENTARY] One reason for this is that companies don't yet see the investor/analyst/regulatory demands for it. Also, companies don't want to add to their potential liabilities by acknowledging possible associated costs that could hurt long-term profits, stock prices, and executive compensation from stock options!
Three-quarters of companies don't acknowledge climate risks, by James Murray, October 19, 2017, GreenBiz, USA.

Seniors 65 and Older Are More Interested in ESG Strategies Than Younger Generations, Finds AllianzGI ESG Clarity Survey. "AllianzGI found that 68% respondents in the 65+ age demographic had a favorable view of ESG investing compared to only 59% of those 25-44. In addition, 65% of seniors called it a sound investment strategy compared to only 54% of those 25-44.

Seniors are also incredibly engaged in practicing personal ESG in their daily lives with 81% of those 65+ engaging actively in the issues they care about by staying up to date, deciding which products to buy and contributing their time and money to causes important to them. This compares with only 66% of investors aged 25-44 who practice personal ESG."

[COMMENTARY] It's heartwarming to see this data. I'm concerned about a lot of these surveys though. Who doesn't want to respond positively when asked, "Do you invest in 'responsible' companies?" Most people would be afraid of saying 'no' to the interviewer. It'll be interesting to get feedback from the pollsters on this. Of course, what people say and do are very different things.
Seniors 65 and Older Are More Interested in ESG Strategies Than Younger Generations, Finds AllianzGI ESG Clarity Survey, press release, October 17, 2017, Allianz Global Investors, USA.

ESG analysis grows in all regions for CFA Institute members; EMEA takes biggest leap. "Although environmental, social and governance consideration was up for all regions from the CFA Institute's 2015 survey, Europe, the Middle East and Africa replaced Asia-Pacific as the region where investors are most likely to take ESG issues into account at 85%, up from 74% in 2015. Meanwhile, some 81% and 68% of investors in the Asia-Pacific and Americas, respectively, said they take ESG factors into account, up from 78% and 59% in 2015."

[COMMENTARY] The CFA is a highly reputable organization. However, the percentages of investors saying they're taking ESG into account look overblown to me. ESG analysis is no doubt gaining in credibility but if these responses are to be believed it would be dominant in financial analysis today. Yet, it doesn't seem to be the situation from any objective analysis of the industry.
ESG analysis grows in all regions for CFA Institute members; EMEA takes biggest leap, by Meaghan Kilroy, October 18, 2017, Pensions & Investments, USA.

PRI threatens to strip members of signatory status in 'greenwashing' purge. "The PRI argued that many of the 200 or so asset managers and schemes that have signed up to the United Nations-backed principles on tackling environmental, social and governance (ESG) issues pay little more than lip service to them. Now they will be faced with a new set of standards to prove they are making active efforts to effect change, or they risk being removed from the PRI's official list of signatories."

[COMMENTARY] The UN Principles for Responsible Investment (PRI) have been talking about doing this for some time. I'm delighted to see it happening.
PRI threatens to strip members of signatory status in 'greenwashing' purge, by James Phillips, October 16, 2017, Professional Pensions, UK.

'True Bearing' Financial Planners Unveil Consumer Attitudes Towards Sustainable Investment. "With 32.9% wanting to invest in ESG/sustainable investments, why do actual investments total only 3%? Using the survey results, the 3% of total UK assets managed should increase many times over. These figures suggest that IFA's are missing out on a large market share, of those keen to take up ESG investments."

[COMMENTARY] This is something I've been talking and writing about for decades! Most financial advisors and planners -- so many different nomenclatures -- are reluctant (or not required) to spend the time to really know their clients. They make a mockery of what should be their 'know thy client' mandate. Also, the time to gain knowledge concerning ethical/ESG investments, commission arrangements, and other impediments, thus lead numerous advisors to offer inappropriate advice to their clients.
'True Bearing' Financial Planners Unveil Consumer Attitudes Towards Sustainable Investment, press release, October 11, 2017, True Bearing Chartered Financial Planners, UK.

Investors fear ESG investment will hurt returns. "Almost half of big European investors fear they will lose out on returns if they invest sustainably, despite the majority believing environmental, social and governance issues will become increasingly important over the next five years."

[COMMENTARY] Schroders definitely sees the future in ESG investing and is taking it seriously. The research they're compiling -- and its results -- is spurring increasing attention throughout the investment industry. Investment industry professionals should note the results of the study below that just won this year's Moskowitz Prize!
Investors fear ESG investment will hurt returns, by Attracta Mooney, October 11, 2017, Financial Times, UK.

Announcing the 2017 Moskowitz Prize Winner for Sustainable and Responsible Investing. "This year, the Moskowitz Prize acknowledged the superior quality of the paper Corporate Governance and the Rise of Integrating Corporate Social Responsibility (CSR) Criteria in Executive Compensation: Effectiveness and Implications for Firm Outcomes released in September 2017. The study examined the integration of CSR contracting – that is the linking of executive compensation to social and environmental performance – and how it affects firm-level outcomes.

'This study provides practitioners of sustainable, responsible and impact (SRI) investing with data that shows how companies that do good also perform well,' said Steve Schueth, producer of The SRI Conference and president of First Affirmative Financial Network. 'The authors' findings add to the mounting evidence that investing in companies that integrate sustainability best practices into their operations does not hinder financial performance, but can improve it – especially for their long-term investors.'"

[COMMENTARY] I've given a lot of space to this study because it's important for many reasons. Firstly, the Moskowitz Prize offered by the Center for Responsible Business at the Haas School of Business, University of California, Berkeley, has become THE prize for SRI/CSR researchers globally. Secondly, the winner of this year's prize uniquely demonstrates the advantages of CSR for company executives and stockholders!
Announcing the 2017 Moskowitz Prize Winner for Sustainable and Responsible Investing, press release, October 10, 2017, SRI Conference and The Center for Responsible Business at the Haas School of Business, UC Berkeley, USA.

UK Good Money Week October 8-13, 2017. "Letting people know they have sustainable and ethical options when it comes to their banks, pensions, savings and investments so we can protect the environment and support society when we deposit and grow our money."

[COMMENTARY] The UK also has its yearly ethical-responsible money/investing week too. Again, I encourage all UK investors and investment professionals to take this opportunity to help grow UK ethical-responsible finance and investment. These 'weeks' garner greatly increased media attention to these endeavors as well.
UK Good Money Week October 8-13, 2017, Good Money Week, UK.

Responsible Investment Week Canada Events October 23-27, 2017. "The Responsible Investment Association (RIA) is coordinating a week of events across Canada to promote learning about environmental, social, and corporate governance (ESG) issues that affect investments."

[COMMENTARY] I encourage Canadian investors and investment professionals to take part in these events! It's a terrific opportunity to encourage the adoption of ethical, sustainable, responsible investing. For a listing of events see Responsible Investment Week, Make Money, Responsibly, Canada.

Major asset managers moving slowly but surely toward impact investing. "Nine out of the top 10 largest U.S. asset managers are now active in impact investing, according to new Tideline analysis. All but Vanguard, the second largest US asset manager, have stood up or are actively testing impact investing strategies."

[COMMENTARY] impact investing continues to grow, largely due to the demands of high net worth investors says this survey. Also, this survey found that institutional investors are laggards in this area.
Major asset managers moving slowly but surely toward impact investing, by ImpactAlpha/Kim Wright-Violich,  October 3, 2017, Tideline & ImpactAlpha, USA.

100 Women: Do women on boards increase company profits? "More sophisticated pieces of analysis carried out by academics have shown very small positive correlations between female board members and financial success. But this is an average - in some companies the relationship was neutral and in some it was negative. And proving causation is far harder."

[COMMENTARY] Ethical investors are convinced that having women on boards improve corporate financial performance. Studies support that thesis. However, this article cites some research contradicting that finding. So, who's right? As in most social science research, results can differ greatly between studies.
100 Women: Do women on boards increase company profits? October 2, 2017, BBC News, UK.

Research preoccupied with short-term financial metrics. "Excluding environmental, social and governance issues leads to misallocation of capital... A global survey of 342 financial analysts by Aviva Investors found that 42 per cent of respondents thought research published by banks and brokers was preoccupied with short-term financial metrics."

[COMMENTARY] Interesting, aren't these the analysts that publish the research? Yet, they're the ones criticising themselves of a short-term preoccupation and avoidance of ESG measures they know are important for understanding the long-term financial prospects of companies! At least they know their issues. Perhaps it's their managers that need to get with it!
Research preoccupied with short-term financial metrics, by Chris Flood, October 1, 2017, Financial Times, UK.

Candriam: ESG analysis deems 49 countries 'non-investable.' "China, Russia and Turkey are among 49 countries that are 'non-investable', according to an analysis of their potential for long-term sustainable development by Candriam. Of the 35 advanced economies analysed – based on the definition used by the International Monetary Fund – only Greece came out as non-investable. Out of the 88 emerging economies, 48 were classified as non-investable."

[COMMENTARY] Candriam have completed a fascinating analysis of investible countries based on ESG criteria. What is especially interesting is that this analysis applies to both equity and bond investing.
Candriam: ESG analysis deems 49 countries 'non-investable, by Susanna Rust, September 29, 2017, IPE, UK.

The global rise of sustainable investing -- Schroders. "To accurately gauge the latest attitudes, we surveyed more than 22,000 people from 30 countries who invest. We asked them about their knowledge, views and actions when it comes to sustainable investing."

[COMMENTARY] Schroders survey of global sustainable investing provides some useful insights for all investors, particularly supportive for ethical investors. However, the self-reporting of those surveyed saying that most of them are already investing in sustainable ways is questionable. As we know, what people say and actually do aren't always the same! Nonetheless, it does show that sustainable investing is increasingly important to investors.
The global rise of sustainable investing -- Schroders, September 27, 2017, Schroders, UK.

China’s sustainable firms are starting to outperform. "Chinese companies that disclose their environmental, social and governance measures are outperforming on the stock market, data show."

[COMMENTARY] There's been little evidence to date of Chinese corporate ESG stock performance. This new data is probably the first to indicate that possibility. Companies ESG outperformance and correlated stock outperformance appear to be a worldwide phenomenon. Most ethical investors have probably avoided China so far, but data like this could change that.
China’s sustainable firms are starting to outperform, by Karen Yeung, September 27, 2017, South China Morning Post, China.

[UK] Consultants pressure pension funds over ethical investment. "Twelve large investment consultants have joined forces to increase pressure on pension funds that are not taking environmental, social and governance (ESG) factors into account when making investment decisions.

The group of consultants, which includes the big three of Willis Towers Watson, Mercer and Aon Hewitt, advise on close to £1.6tn of pension and insurance assets in the UK alone and have huge influence over the investment decisions of asset owners."

[COMMENTARY] This is great news. However, they're taking this action because the UK government's pension regulator says, according to the FT, that, "savers face long-term financial risks because trustees are failing to take climate change, responsible business practices and corporate governance into account when making investments."
[UK] Consultants pressure pension funds over ethical investment. by Aliya Ram, September 23, 2017, Financial Times, UK.

Canadian Money Saver publishes an article, "Do-It-Yourself Ethical Investing Pays," by Ron Robins. "Though DIY sustainable-ethical investing requires some work it can pay handsomely. The process is engaging and fun too. But the skills to do it effectively can be more quickly acquired with coaching from those experienced in this work."

[COMMENTARY] I wrote this article -- and offer webinars and tutorials on this subject too -- for individual investors who want to have ownership and save on fees in creating and managing a stock portfolio that reflects their personal values.
Canadian Money Saver publishes an article, "Do-It-Yourself Ethical Investing Pays," by Ron Robins, September 2017, Canada.

Catching The Wave: The Spread of ESG in Institutional Investment Portfolios. "More than a quarter of North American institutions use environmental, social and governance (ESG) standards in their investment portfolios, and approximately 60% of institutions that have not yet incorporated ESG into their portfolios say they are open to doing so in the future."

[COMMENTARY] Their study provides some further insights into the spread and utilization of ESG among institutional money managers.
Catching The Wave: The Spread of ESG in Institutional Investment Portfolios, press release, September 19, 2017, Greenwich Associates, USA.

LEGO Group Leads Global Ranking of Best CSR Reputation. "Reputation Institute has released the main findings of its 201 7 Global CSR RepTrak® 100 report, including the list of the companies considered as the most responsible worldwide. The report is based on over 170,000 ratings from interviews with the public in the 15 largest economies (United Kingdom, Spain, Italy, Germany, France, Russia, Brazil, Mexico, USA, Canada, Japan, China, India, Australia and South Korea)."

[COMMENTARY] Their top five are LEGO, Microsoft, Google, Walt Disney, and BMW. Full results here.
Reputation Institute, September 12, 2017, USA.

Ceres launches water use scorecards on affected companies. "For food companies, water management is a business imperative like never before. And as risks of water scarcity and pollution steadily increase, corporate leaders must evaluate the most effective ways to water-proof their business."

[COMMENTARY] Ceres has created an impressive scorecard on how food companies, in particular, use and manage their water resources.
Feeding ourselves thirsty, September 2017, Ceres, USA.

Big investors take aim at banks over climate change risk. "A coalition of institutional investors managing more than $1tn in assets is demanding that 60 of the world’s largest banks take action to protect the world from the threat of catastrophic damage due to climate change."

[COMMENTARY] This was bound to happen -- and good that it has. Financial institutions and companies not reporting or allowing for climate change effects on their businesses will likely see reduced investor interest and possibly lower relative stock prices over time.
Big investors take aim at banks over climate change risk, by Chris Flood, September 14, 2017, Financial Times, UK.

Responsible Investment Week Canada, "make money responsibly." October 23-27, 2017. "Responsible Investment Week is dedicated to education and awareness about responsible investment (RI). The Responsible Investment Association (RIA) is coordinating a week of events across Canada to promote learning about environmental, social, and corporate governance (ESG) issues that affect investments."

[COMMENTARY] All Canadian investors are encouraged to attend and participate in RIA's Responsible Investment Week! The event gets larger every year and the more people that attend the greater the media coverage.
Responsible Investment Week Canada, "make money responsibly." October 23-27, 2017, September 14, 2017, Responsible Investment Association, Canada.

US SIF Foundation Releases Resource Guide For Retail Investors: "Getting Started in Sustainable and Impact Investing." "This resource is a concise guide for retail, non-accredited investors exploring investment options such as mutual funds, ETFs, and direct ownership of stocks, as well as information on seeking professional investment help."

[COMMENTARY] A basic guide for novice sustainability focused investors. It's a useful adjunct to my Tutorial: Creating A Profitable Personal Values-Based Portfolio.
US SIF Foundation Releases Resource Guide For Retail Investors: "Getting Started in Sustainable and Impact Investing," press release, September 14, 2017, US SIF, USA.

Big investors to put more money into tackling climate change. "More than two-thirds of institutional investors are planning to increase investments related to tackling climate change, according to a new survey that suggests 'green finance' is moving from the margins to the mainstream of global markets.... in a study commissioned by HSBC, will add weight to calls from Mark Carney, governor of the Bank of England, and others for greater disclosure of 'climate risks' in the corporate and financial sectors."

[COMMENTARY] How many companies in the insurance, utilities and other hurricane affected industries in Texas and Florida have put as potential liabilities on their balance sheets potential hurricane damages? Though such costs are difficult to assess, but, with climate warming/change becoming increasingly costly for businesses, perhaps investors need to ask such questions more vigorously. Companies refusing to acknowledge such costs might be shunned by investors in years to come!
Big investors to put more money into tackling climate change, by Andrew Ward, September 11, 2017, Financial Times, UK.

Investors Can Be Ethical and Still Beat the Market, Study Says. "Ethical fund managers don’t have to be envious of the market-beating returns of so-called sin stocks. They should be able to match them without dabbling in vice, according to a study in the Fall edition of the Journal of Portfolio Management. The study debunks the popular theory that shares in the alcohol, tobacco, gaming, and weapons industries outperform because investors shun them, enabling those with fewer moral scruples to earn a 'reputation risk premium.'”

[COMMENTARY] So 'sin' stocks only outperform if their profits and investment also outperform. This is an important message, but one I feel will take time to be accepted. Nonetheless, for ethical investors, it's heartwarming to see the results of this study.

Also, as government health care costs continue to explode, many sin sectors such as tobacco and alcohol will continue to be taxed higher and higher, thereby continually eroding the profitability of companies in these sectors. Thus, their future outperformance becomes questionable. See actual study here.
Investors Can Be Ethical and Still Beat the Market, Study Says, by Cormac Mullin, September 11, 2017, Bloomberg, USA.

Rising carbon prices could slash company profits. "The impact of climate change could hit global profits just as hard as the financial crisis and Schroders have launched a new tool to help investors work out which companies will suffer most."

[COMMENTARY] This is an important article to read for all ethical investors. Such research will likely become ever more important to investors as the world grows increasingly concerned about climate change.
Rising carbon prices could slash company profit, by Michelle McGagh, September 6, 2017, Citywire Money, UK.

Sustainable Signals: New Data from the Individual Investor--Morgan Stanley. "80% [of investors] are interested in sustainable investments that can be customized to meet their interests and goals."

[COMMENTARY] Morgan Stanley's Institute for Sustainable Investing has published the results of its second investors' survey. Unsurprisingly, the results show a growing interest in sustainable investing-- especially by millennials.

(Again, for individual investors interested in a do-it-yourself approach, you'll find participating in my free DIY Ethical-Sustainable Investing Webinars very helpful.)
Sustainable Signals: New Data from the Individual Investor, Morgan Stanley Institute for Sustainable Investing, September 2017.

Opinion: The pros and cons of ethical debt instruments. "Innovative debt instruments help to harness the powerful role of capital markets and can connect more savings with international development priorities such as the SDGs. As investor interest continues to soar, they could help move the world from billions to trillions of dollars in financing for the SDGs [Sustainable Development Goals]."

[COMMENTARY] A fine article about ethical-sustainable debt by an advisor to the UNDP.
Opinion: The pros and cons of ethical debt instruments, by Gail Hurley, September 4, 2017, Devex, USA.

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