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Ethical Investing News/Commentaries:
March 2007 |
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Commentaries by Ron
Robins
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Bad Ethics. The Bashing of China's
Trade Policies.
-
[COMMENTARY]
The US Commerce Department announced that it is
going to place economic sanctions on Chinese paper
imported into the US. It has determined that China
provides an unfair subsidy to these products. Before
the US proceeds too far down this path, it should
note the biblical injunction that 'Those without sin
caste the first stone!' Good ethics demands that the
US be much more transparent in the activities of the
Treasury's
secretive
Exchange Stabilization Fund and The
Working Group on Capital Markets. I will write more
about these major ‘market influencing' mechanisms
sometime.
China Trade Sanctions, by Brian Wingfield, March
30, 2007, Forbes.com, USA.
PR News Gives CSR Awards To Twelve Companies.
-
[COMMENTARY]
These companies earned their awards for both their
corporate social responsibility (CSR) initiatives
and for being able to effectively communicate to
their constituencies.
PR News Announces Winners of Corporate Social
Responsibility Awards,
March 29, 2007, PR News, USA.
Malaysia Opens CSR Portal.
- [COMMENTARY] This portal is not
only for companies, but also for consumers,
employees, investors and the community at large.
This shows that rising ethical values are spreading
around the world.
New Corporate Social Responsibility Community Portal
for Malaysia,
March 30, 2007, CSRwire.com, Malaysia.
Whole Foods Ups
the Ante On Sustainable Products. -
[COMMENTARY] Whole Foods
will be certifying some products as sustainable.
These products will likely carry a premium price
but in return, Whole Foods will pay a higher price
to the producers of those goods. It will be
fascinating to see how far consumers will go to pay
higher prices to help out producers. Since Whole
Foods caters to the more discriminating upscale
consumer, it will likely work. I hope so.
Whole Foods to Certify Sustainable Products,
March 30, 2007, Greenbiz.com, USA.
Canadian
Government Roundtable Urges CSR In Canadian
Extractive Companies' Foreign Subsidiaries. -
[COMMENTARY] This
is a great step forward. About 60% of global mining
finance is raised in Canada. The Canadian government
in February also announced its support of the
international Extractive Industries Transparency
Initiative (EITI).
Advisory Group Report, National Roundtables on
Corporate Social Responsibility (CSR) and the
Canadian Extractive Industry in Developing
Countries,
Government of Canada, March 29, 2007, Canada.
Green Buildings
Are Key. - [COMMENTARY]
The UNEP press release says that
buildings account for 30-40% of global carbon
dioxide emissions. Everything associated with green
building materials and construction may offer
interesting investment opportunities in the decades
ahead. As an aside, you might also like to explore
an ancient Vedic (Indian) system of building called
Sthapatya Veda.
Buildings Can Play a Key Role in Combating Climate
Change,
March 29, 2007, United Nations Environment Programme,
USA.
European Utilities
Ahead In Green Energy.
-
[COMMENTARY]
This review could provide some insight on investing
in green utilities.
Gain A Deep Insight into The Green Energy Strategies
in European Utilities Players: Renewable Growth,
Green Tariffs And R&D In New Technologies,
(source Business Wire) March 29, 2007,
Digital50.com, USA.
Burger King Will
Begin Buying 'Humanely Raised' Meat & Chickens.
- [COMMENTARY]
What a victory for PETA (People for the Ethical
Treatment of Animals). This raises the bar for the
fast food and restaurant industries. Personally, I
would like to see people enjoy more meatless meals.
That would be healthier for them as well as for the
planet. The farmland required to feed a vegetarian
is around 30%-40% compared to that of a meat eater!
Burger King Shifts Policy on Animals, March 28,
2007, Starnewsonline.com, USA.
Social
Entrepreneurs Make Big Gains. -
[COMMENTARY] This is a
fascinating quantitative survey of 100 social
entrepreneurs around the world. Social entrepreneurs
try to marry concerns in areas such as health and
the environmental with business. It may also be
possible to get some investment ideas by reading
this report.
Business + Social Entrepreneurs = Solutions To
Insoluble Problems,
March 28, 2007, SustainAbility, Ltd., UK.
Social, Ethical &
Environmental Consumer Index Launched In UK. -
[COMMENTARY]
"The Times launches the Concerned Consumer Index. It
is a monthly poll of just over 1,000 adults whose
purchasing decisions are swayed by the social,
ethical and environmental behaviour of the company
selling the product." -- Timesonline.
This is a good step to being able to regularly model
consumer attitudes towards what I call higher value
purchasing.
Value remains main concern of consumers,
by James Harding, March 28, 2007, Timesonline,
UK.
Swiss Based
Forestry Company Awarded French Sustainability
Prize. - [COMMENTARY]
Precious Woods practices sustainable
forestry management in tropical countries. Their
practices set a good precedent for all forestry
companies. They are a public company whose stock is
listed on the SWX Swiss Exchange in Zurich. See
press release below.
Precious Woods is Awarded the Trophée de l'Économie
Positive 2007,
March 23, 2007, CSRWire, France.
Ethical Marketing
In Vogue. -
[COMMENTARY]
This is a great piece on the latest
survey results by GfK NOP on the impact and
implications of ethical marketing for both consumers
and companies. The survey writers make a strong case
for companies to employ high ethical standards.
Analysis: Ethical Marketing,
March 23, 2007, UTalkmarketing.com, UK.
Ethics Taught In
Many Top-Ranked US Business Schools. -
[COMMENTARY] But can
ethics be taught? It is my contention that real
ethics comes from deep inside ourselves, which
requires a high quality of consciousness. My
personal belief is that the Transcendental
MeditationTM
technique is the best way to do this. Nonetheless,
it is good that business schools have identified
ethics as a major area of engagement for business
students.
Can business ethics be taught?
by G. Jeffrey MacDonald, March 21, 2007, The
Christian Science Monitor, USA.
Motto, New
Magazine For Socially Responsible Businesses And
Employees. - [COMMENTARY]
This magazine seems to have an
interesting and timely niche. See their website and
check out the magazine.
Motto,
March, 2007, USA.
Tips On Banking Green In The US.
- [COMMENTARY] It is
challenging for us to find banks which may share our
values. Hopefully, in years to come we will
see banks differentiate among themselves to appeal
to individuals with particular personal values.
Your Bank Account Probably Supports Cluster Bombs
and Big Coal,
by Stan Cox, March 23, 2007, AlterNet, USA
"Chiquita
Pleads Guilty to Funding Colombian Terrorists."
-
[COMMENTARY]
So
says the headline in this news report. What is
interesting is that company managers continued to
pay sums to the terrorists even after their own
lawyers said to stop such payments. If any companies
that you invest in have substantial activities in
unstable countries, you just might want to be
satisfied as to the management's
ethical practices. After all, as an investor we
share in the responsibility for the activities of
those companies we invest in, as well as, even in a
small way, participate in the outcomes of their
corporate actions.
Chiquita
Pleads Guilty to Funding Colombian Terrorists,
March 19, 2007, PR Watch, Center for Media and
Democracy, USA. This site can be a useful source of
information regarding PR spin. Original news source
Associated Press, USA.
New Social &
Environmental Web Video Channel Launched. -
[COMMENTARY] The
site is currently promoting a clip by Dame Anita Roddick, founder of The Body Shop. She believes that
big business is compromising the ethical values that
are the basis of corporate social responsibility.
What do you think? This new video channel could be a
useful source for investing ideas.
Big Picture TV,
March, 2007, Bigpicture.tv, UK
Canadian SRI
Assets Soar. -
[COMMENTARY]
"...assets invested according to
socially responsible guidelines have increased
significantly, from an estimated $65.46 billion in
2004 to $503.61 billion, as of June 30, 2006...The
vast majority of this increase is due to several
major pension funds, mostly in the public sector."
See report below. Eugene Ellmen and all
affiliated with the Social Investment Organization
need to be congratulated!
Canadian Socially Responsible Investment Review
2006, March 2007, Social Investment
Organization, Canada. See also,
Social investment assets soar,
by Tavia Grant, March 22, 2007, The Globe & Mail,
Canada.
"Financial weapons can be
the most effective against terror." -
[COMMENTARY]
So states this article. It
is important for businesses to be held accountable
for their actions. As we know, some stocks have
already suffered from divestment due to activities
in 'problem' countries. Now stocks in companies
doing business with Iran could also suffer significantly if this idea gains
traction -- which I believe it could.
Divest from Iran, by Laura Goldman, March
20, 2007, GLOBES online, Israel.
Carbon Capture
Gaining Momentum. - [COMMENTARY]
This is a potentially
important development as it signals that even the
oil rich producing states are taking the carbon
emissions more seriously.
UAE
begins groundbreaking carbon capture & storage
initiative,
March 20, AME info, United Arab Emirates
UK Survey Shows
Consumers Choosing Green. -
[COMMENTARY] "82 per cent of UK
consumers would choose to buy an eco-friendly
product in favour of a non-eco friendly product in
order to do their bit to combat climate change."
This is an astonishing number. It is likely that
consumers in most other OECD countries will follow.
You might like to talk to your advisor as to how to
profit from these changes in consumer preferences.
Consumers look to make green the colour of their
money, March
20, 2007, UK.
Is Ethanol A
Financial, Ecological Disaster? -
[COMMENTARY] From where I
stand, the real pros and cons of ethanol are only
now beginning to be understood. I believe that when
you get behind the hype surrounding ethanol, the
case for it is very, very, weak. Read this blog. It
might help you make your own decision on this
subject.
What is the Real Cost of Corn Ethanol?
by Ronald R. Cooke, March 19, 2007, USA.
New 'Cultural Creatives' Media Site.
-
[COMMENTARY] This site may provide
some interesting investing ideas.
Personal Life Media Debuts Podcast and Blog Network
on Relationships, Spirituality and Personal Growth,
PRWeb Press Release, March 19, 2007, USA.
GMOs Have
Problems. - [COMMENTARY]
It seems that
Monsanto's Bovine Growth Hormone (rBGH) is now
having a hard time in the marketplace. In the
article below, Mr. Peck makes the
argument that we need to be extremely weary of
genetically modified organisms (GMOs) in our foods.
I for one, avoid any food with GMOs. Ethically, would you like to invest in a company
with a GMO product that, although the current
science says 'may be' ok, but years from now might
be responsible for an environmental disaster and
much human suffering? What do you think?
Monsanto - How Now Brown Cow?
by John E. Peck, March 18, 2007, Infoshop News, USA.
Shareholder
Proposals Derailed. -
[COMMENTARY]
It seems that
some Canadian provincial regulations are serving to
derail shareholder proposals to get companies to
divulge their climate change and human rights --
that is if they have any! Should not the small
investor have the right to submit shareholder
resolutions? I certainly think so.
Shareholder proposals derailed by Canadian Natural
Resources, March, 2007, Share E-News, Canada
Youths Pay Lip
Service To Environment. - [COMMENTARY]
Ms. Goldstein
reports on a fascinating international study on
youth by Sweden's
Kairos Future. The main point, especially for
the Swedes, but others too, is that "they
[the youth] do not want to buy environmentally
friendly products ...Consumption is guided by the
advice from friends." This reminds me of another
recent
UK student
survey that showed, "Only 16 per cent of
those surveyed said that their lifestyle choices
were considerably affected by environmental
concerns, despite 92 per cent believing that society
does not do enough to help the planet." The
bottom line, the youth still buy what is 'hip' and
affordable!
Global Youth: Money + Status = Happiness?
by Anastasia Goodstein, March 16, 2007, YPulse.com,
USA
Mutual Fund Proxy
Voting? - [COMMENTARY] As of August,
2004, the US Securities Exchange Commission started
to require mutual funds to report on their proxy
voting policies. It seems this ruling has only
marginally assisted more conscientious voting by
them. It is only fair to mutual fund investors that
they know how their funds are voting. After all, it
might well affect whether they continue to invest
with that fund.
Mutual Funds Inch Toward More Conscientious Proxy
Voting on Social and Environmental Resolutions,
by Bill Baue, March 14, 2007, SocialFunds.com, USA.
Shareholder
Proposals Derailed. - [COMMENTARY] It seems that
some Canadian provincial regulations are serving to
derail shareholder proposals to get companies to
divulge their climate change and human rights --
that is if they have any! Should not the small
investor have the right to submit shareholder
resolutions? I certainly think so.
Shareholder proposals derailed by Canadian Natural
Resources, March, 2007, Share E-News, Canada
Mutual Fund Proxy
Voting? - [COMMENTARY] As of August,
2004, the US Securities Exchange Commission started
to require mutual funds to report on their proxy
voting policies. It seems this ruling has only
marginally assisted more conscientious voting by
them. It is only fair to mutual fund investors that
they know how their funds are voting. After all, it
might well affect whether they continue to invest
with that fund.
Mutual Funds Inch Toward More Conscientious Proxy
Voting on Social and Environmental Resolutions,
by Bill Baue, March 14, 2007, SocialFunds.com, USA.
Global Warming
Affects UK Investor Decisions. - [COMMENTARY] It is a pity
that it takes a very warm winter for investors to
wake-up to the financial implications of global
warming. Be sure to read the quotes from
Annabel Brodie-Smith, near the bottom of this press
release.
Global Warming may affect nearly two thirds of
active investors' investment decisions,
March 14, 2007, The Association of Investment
Companies, UK.
Test CSR Claims? - [COMMENTARY] Companies make all sorts of claims
in their social, environmental and sustainability
reports, but there really needs to be put in place a
qualified public auditing function, much as we have
for financial statement reporting. The EU is really
taking the lead here.
'Time to test' corporate social responsibility
claims, by
Norwich Union Risk Services, March 13, 2007, UK
Is Nanotechnology
Safe? - [COMMENTARY] Nanotechnology is
rising as an area of major investment. "Global
sales of nanoproducts were worth US$32 billion last
year and forecast to grow to US$1 trillion by 2011,"
according to this report.
Needless to say, there are immense ethical issues
regarding this technology. The following article
provides some insight into these concerns.
Is Nanotechnology Rushing Into A Repeat Of The
Biotechnology Backlash, published in
Azonano.com, though source is Friends of the Earth
nanotechnology Project.
SRI Funds In The USA. -
[COMMENTARY] A good overview
of what socially responsible investing is,
and its performance, in the USA.
Stocks With Scruples,
by S. J. Caplan, March 13, 2007, The Motley Fool,
USA.
Sustainability In
Canada's Oil Patch Wanting. -
[COMMENTARY] Worthwhile to get if you are an
investor in Canada's oil and gas industries, this
study by Canada's Ethical Funds Company appears
to have much to offer environmentally responsible
investors.
Canada’s oil and gas sector is slow to take action
on their climate change responsibilities,
March 13, 2007, Ethical Funds, Canada.
All the CSR Reports
You Need. - [COMMENTARY] Here is one
central place where you can find corporate social,
environmental and sustainability reports all in one
place. Registration, though free, is required.
CorporateRegister.com is based in the UK.
Canadian SRI Funds
Fare As Well As Others. - [COMMENTARY] This study
concludes that Canadian socially and environmentally
responsible mutual funds did at least as well in
2006 as the general Canadian mutual fund universe.
That is because they all hold similar investments!
SRI screens have little impact on returns: study
by Steven Lamb, March 12, 2007, Advisor.ca, Canada.
Religious Mutual
Funds. A Good Overview. - [COMMENTARY] David Kathman's
article provides a good overview of religious mutual
funds in the US.
Putting Faith in Religious Mutual Funds, by
David Kathman, March 13, 2007, Morningstar.com, USA.
SRI Mutual Fund
Arrives in India. - [COMMENTARY] This is exciting. It shows Indian investors may
now be ready to join-in the global movement towards
incorporating investments with a sustainability
bias.
ABN Amro AMC launches ABN Amro Sustainable
Development Fund, March 12, 2007, The
Economic Times, India.
UK Charities Still
Not Onboard SRI Train. - [COMMENTARY] What is interesting in this article is
that as of 2006, most UK charities still had no
interest in socially responsible investing. It seems
the Gates have lots of company. You might remember
the recent controversy that their foundation will
also not employ any social, environmental or
governance screening either. How these people
justify such behaviour, considering the use their
funds go to, in my opinion can only be described as
unethical.
Charities no longer complacent says JPMorgan Asset
Management,
March 1, 2007, Easier Finance,
UK.
US: Exciting New Data
for Environmental Products. - [COMMENTARY]
LOHAS -- "Lifestyles Of Health And Sustainability"
represents a fast growing, huge market in the US for
consumers who demand socially and environmentally
oriented goods and services. Many investment
opportunities in these markets.
New LOHAS Market-Size Data Released A $209 Billion
Opportunity,
March, 2007, GreenMoneyJournal.com,
USA
EU Labour Wants
Restricitions On Private Equity Deals. -
[COMMENTARY]
Stratfor has produced an important analysis on how
European labour is increasingly demanding more
accountability and control of companies who are
bought-out in private equity deals. Ethical
considerations of corporate behaviour and public
policy are key here. (Stratfor is a leader in global
political and economic intelligence reporting.)
Private
Equity Firms and Public Policy, March 8,
2007, Stratfor, USA.
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