Newly Added Profiles Sovereign Wealth Funds - Mauritania National Fund for Hydrocarbon Reserves
The fund is managed by the Mauritanian Central Bank Ministry of Finance. The fund is financed through a variety of oil-related sources. - International Petroleum Investment Company (IPIC)
The International Petroleum Investment Company, which is wholly owned by the Government of the Emirate of Abu Dhabi, invests in “…hydrocarbons industries across the globe.” The firm claims that the estimated worth of its portfolio is over USD$50 billion – of which the balance sheet “grew from US$23 billion December 2009 to US$47 billion by December 31, 2010.” - Norwegian Public Service Pension Fund
The Statens Pensjonskasse (SPK) administers programs for pensions, insurance, and housing 970,000 government workers and many researchers. Money is automatically deducted from paychecks and deposited in the pension fund. Membership is mandatory, and the fund falls under the purview of Norway's Ministry of Government Administration and Reform.
Asset Managers - La Compagnie Benjamin de Rothschild
Compagnie Benjamin de Rothschild introduces its strategies this way: "Compagnie Benjamin de Rothschild continues the Rothschilds' prestigious tradition of serving industry. We have taken five major principles of company risk management on board, because, in our view, the only way to achieve long-term profitability is to control risks." The five risk management principles are prevention, transparency and liquidity, realism, adaptability, and partnerships. - Green Century Capital Management & Green Century Funds
Green Century describes itself as providing "a new option for investors, empowering you to use the power of your investment dollars to encourage environmentally responsible corporate behavior. Green Century recognizes that business as usual will not create the green future we seek." Green Century takes a long-range view of investments. - Global Environment Facility
The Global Environment Facility “provides grants to developing countries and countries with economies in transition for projects related to biodiversity, climate change, international waters, land degradation, the ozone layer, and persistent organic pollutants.”
ESG / Sustainability Wal-Mart Top 10 Sustainability Projects Underscore Global Leadership
(Source: Forbes) If you’re one of those people with an irrational but nonetheless bone-deep hatred of Wal-Mart, then don’t read this Top 10 list. Because it’ll only hyperstimulate that reflexive foaming at the mouth and dyspeptic rage that bubbles up inside of you whenever the company’s name is mentioned—and particularly when what’s being said about the employer of 2.1 million people is positive. Fitch affirms U.S. AAA rating
(Source: Jacksonville Business Journal) Less than two weeks after Standard & Poor's rocked financial markets by downgrading its ratings on U.S. long-term debt, rival ratings service Fitch Ratings affirms its AAA credit rating for the United States. The affirmation "reflects the fact that the key pillars of the U.S.'s exceptional creditworthiness remains intact: its pivotal role in the global financial system and the flexible, diversified and wealthy economy that provides its revenue base," Fitch said in a statement. Arabia CSR Network Leads the Way for GRI Framework in the Middle East
(Source: Zawya) The Arabia CSR Network - with its vast experience of working with organizations to improve their CSR systems - has been certified by the Global Reporting Initiative (GRI) headquarters in Netherlands to provide trainings to organizations that wish to use the GRI framework for their sustainability reporting requirements. Commentary The Economic Upheaval – Who’s Fault, is it?
 (Source: Ken Cynar, Governance and Accountability Institute) There is a problem when a group of people sitting in a conference room can make such a pronouncement and potentially bring down the world economy...not to mention the savings and futures of a lot of regular guys and gals. Nobody elected them and nobody appointed them to be the financial arbitrators of the world economy. Associated Profiles : Governance & Accountability Institute, Inc. Research/Reporting Using GRI to Compare Apples to Apples in Sustainability Reporting
(Source: Triple Pundit) Sustainability reports are as different as each of us. They vary in format, material issues selected, boundary and scope, and cultural orientation which makes it very difficult to judge performance based on a common set of indicators. Investment institutions like Bloomberg, the Dow Jones Sustainability Index or FTSE4Good have some of the more widely recognized methods of reviewing corporate sustainability. But they aren’t the only companies in the game. Associated Profiles : UN - Global Reporting Initiative GRI, Dow Jones Sustainability Index Sovereign Wealth Funds US debt still safest place for China reserves: Top banker
(Source: Economic Times) BEIJING: The U.S. Treasury market is still the safest place for China to put part of its massive foreign exchange reserves despite a downgrade of the U.S. debt rating by Standard & Poor's, Guo Shuqing, chairman of China Construction Bank, said in comments published on Tuesday. Associated Profiles : State Administration of Foreign Exchange (SAFE) Investment Company (China) China To Allow Hong Kong Investors To Buy CNY 20 Bln Mainland Securities
(Source: RTT News) China's Vice Premier Li Keqiang reportedly said Wednesday that the government will permit Hong Kong to buy upto CNY 20 billion yuan-denominated securities. China will support the expansion of the yuan market in Hong Kong, Li said during a visit to Hong Kong. The Hong Kong economy contracted 0.5 percent sequentially in the second quarter, after expanding for eight consecutive quarters. Associated Profiles : Hong Kong Monetary Authority -- Investment Portfolio Abu Dhabi Wealth Fund Sued by Madoff Trustee in Bid to Recoup $300 Million
(Source: Bloomberg) The liquidator for Bernard L. Madoff’s firm sued the Abu Dhabi Investment Authority, seeking to recover $300 million for victims of the confidence man’s Ponzi scheme. Irving Picard, the Madoff firm’s trustee, said the sovereign wealth fund withdrew the money from Fairfield Sentry, a so-called feeder fund to Madoff’s fraud, in a complaint filed today in U.S. Bankruptcy Court in Manhattan. Associated Profiles : Abu Dhabi Investment Authority | Corporate ESG Performance Factors are important to financial analysts, asset owners and managers, and many stakeholders. The ESG framework or approach considers environmental and energy issues and impacts, the company’s positioning and actions on social/societal issues, and corporate governance. ESG key performance indicators are also considered proxies for effective governance and management of corporations by investors. Dozens of independent research and financial analysis firms are monitoring and measuring these and advising investors. The Sustainability HQ™ platform is an important profiling and monitoring resource for the G&A team, and for our clients and subscribers. Many of the ESG market players and corporate reputation influencers are profiled by G&A Institute. In these Highlights we offer a few of the results of our continuous global scanning for ESG, sustainability and corporate responsibility news, commentary and research from thousands of global sources. The Associated Profiles indicated are contained in our platforms. For more information, email us atinfo@sustainabilityhq.com. _______________________________
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United States Pension Funds CalSTRS lobbies for gradual increase to underfunded pension
(Source: LA Times) A plan by the giant state teachers' pension fund to ask the Legislature and governor this year to boost their financial support has been sidetracked by California's continuing budget shortfall. As the current legislative session winds down, leaders of the $154-billion California State Teachers' Retirement System have opted to begin a lower-key, multiyear lobbying campaign to convince Gov. Jerry Brown and lawmakers to approve a gradual increase in state, community college and school district contributions for the retirement of 852,000 public school educators. Associated Profiles : California State Teachers’ Retirement System Depleting Pension Assets through Flawed Investing
(Source: Annuity News Journal) Will pension fund managers forget the high flying investment vehicles of the early decade? You bet they will. A recent article for U.S. News and World Report pointed out funds that are heavily managed do less well on total returns than funds that are passively managed or annually rebalanced. The article reviewed a small study on the “Florida Retirement System vs. Index Portfolios.” Ten-year returns of Dimensional Fund Advisors and Vanguard index portfolios were compared with returns from the managed Florida Retirement System. Associated Profiles : Florida Retirement System Pension Plan Wall Street’s ride compounds states’ pension fears
(Source: News Gnom.es ) Wall Street’s volatility has hit state pension funds just as they were beginning to recover from the recession, turning what was merely a troubled forecast into a potentially stormy future for taxpayers who are on the hook for billions in unfunded liabilities for government retirees. As for the millions of government clerks, engineers, janitors, teachers and firefighters in the retirement systems, they are protected by law or, as in New York, by the state constitution, to be backed up by tax dollars if necessary. Their benefits remain safe for life in guaranteed “defined benefit” pension plans that are disappearing in the private sector, where most employees are left to fend for themselves with 401(k) plans that they mostly or entirely fund themselves. Associated Profiles : Ohio Public Employees Retirement System (OPERS) Research/Reports Report details how public pensions are changing in California
(Source: Sacramento Bee) State workers will identify with this: More and more cities, counties and school districts in California are lowering retirement benefits to new hires and offering financial incentives for long-time employees to leave, according to a report discussed during CalPERS' board meeting this morning. Still, nearly four dozen contracts increased benefits during fiscal years 2009-10 and 2010-11, although "(m)any agencies are currently seeking advice on potential cost saving measures to help them find financial relief from the market downturn and budgetary concerns," the report to the fund's Benefits and Program Administration Committee says. Associated Profiles : California Public Employees’ Retirement System (CalPERS Watching the Watchers  Business for Innovative Climate & Energy Policy
Headquarters: Boston, Massachusetts
Established: November 2008
KEY PARTNERS
Ceres OVERVIEW / MISSION
“BICEP’s goal is to work directly with key allies in the business community and with policy makers to pass meaningful energy and climate change legislation that is consistent with our core principles.” BACKGROUND
Founding members of Business for Innovative Climate & Energy Policy (BICEP) are Levi Strauss & Co., Nike, Starbucks, Sun Microsystems and Timberland. Although BICEP notes that its members, who are mostly consumer companies, are not “major greenhouse gas emitters,” it emphasizes in its FAQ that climate change will have broad implications for all sectors of the economy and “various business perspectives are needed to provide a full spectrum of viewpoints for solving the climate and energy challenges facing America.” News Sweeps
Blazers' Larry Miller a keynote speaker of Green Sports Summit meeting in Portland
(Monday - August 01, 2011) Associated Profiles : Business for Innovative Climate & Energy Policy - Most recently, the Blazers joined Business for Innovative Climate and Energy Policy (BICEP) -- a coalition of consumer brands that work to bring attention to sustainable business practices. The coalition includes ... [more] CSR in Annual Reports: 7 Conflicting Trends
(Wednesday - July 20, 2011) Associated Profiles : Business for Innovative Climate & Energy Policy - Whether it's the Sustainable Furnishings Council, Business for Innovative Climate and Energy Policy, EarthShare NY Green Teams or the Boston College Center for Corporate Citizenship, coalitions vary by industry, ... [more] Blazers become first sports franchise to join BICEP
(Friday - July 01, 2011) Associated Profiles : Business for Innovative Climate & Energy Policy - The Trail Blazers are the first franchise to join Business for Innovative Climate and Energy Policy. The Portland Trail Blazers lived up to their name Wednesday, becoming the first professional sports team to join ... |
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