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Socially Responsible Investing: From Green Investing to Social Finance
Publisher's Note - Financial Literacy and the Greening Economy
By Cliff Feigenbaum
It's wake up time. As a nation and as individuals we need to not only manage debt, we need to
greatly reduce it, along with our dependence on other countries for the borrowed capital to cover
the record budget deficit created by the current administration.
As for individuals, GreenMoney has long recommended that socially responsible investors begin by
getting out of debt, if even just one bill at a time. In my twenties I spent five years digging my
way into financial trouble and then five more digging back out of it. Today I have excellent credit
with no debt, though I do live simply and within my means. This takes discipline, as there are
constant opportunities to spend money.
Another step is to learn to save money again.
Remember those things called "savings accounts"? Here in the U.S. it seems neither children nor
most adults and politicians have mastered conscientious money management. It would be a great gift
to our children to offer financial education in schools.
When governments, corporations,
and citizens ignore responsibility and accountability, we experience savings and loan failures,
massive government and personal debt, mortgage crises, bank bailouts, environmental degradation,
and divisive war.
On the other hand, these are very good times for those who have shifted
to the Green Economy. It's early in the green transition, as we are developing more green collar
jobs, more locally owned businesses, more organic food and products, and more renewable energy
projects. Green investment is soaring, from global microfinance to increasingly greener companies
serving the triple bottom line of people, planet and profit - a responsibility-based capitalism.
Because green investment offers solutions for a troubled economy and degraded environment, it will
eventually pay great returns to its investors.
This fall 2008 issue continues our outline
of a more livable future, with many practical Green solutions. We begin with our first-ever
interview with Calvert Funds CEO Barbara Krumsiek, followed by Don Shaffer of RSF with an update on
Social Finance. Tracy Smith of E+Co gives us a look at their renewable energy projects in
developing countries, and author Brent Kessel, CFP, shares conscious money tips from his new book
and also outlines his new sustainable funds. With the SRI in the Rockies conference heading north
to Canada this fall, Eugene Ellmen of the Social Investment Organization offers a timely overview
of the SRI marketplace in Canada.
Also exclusively here on GreenMoney.com you'll find an
array of additional SRI articles, plus our updated Global Green Events calendar with over 180
conferences listed, including the Triple Bottom Line Investing-TBLI Conference in Amsterdam and the
Green Festivals in Washington, DC and San Francisco, CA all coming up in November.
One
particular event to which I draw your attention is the Bioneers Conference. This significant and
impactful annual conference takes place October 17-19, 2008 in San Rafael, CA at the Marin Center,
but it is also beamed over satellite to 18 other locations around the country. This year's speakers
include Ray Anderson, Janine Benyus, Naomi Klein, and Paul Stamets to name a few. There are a wide
variety of daily workshops as well as some pre- and post-conference intensives to attend. For
registration and additional information, including satellite locations, go to
http://www.bioneers.org
For fall I am recommending four new books: Hot, Crowded and Flat
by Tom Friedman, Strategies for the Green Economy by Joel Makower, Common Wealth by Jeffrey Sachs,
and The Green Collar Economy by Van Jones.
In addition to reading, please make sure you
are registered to vote and get active for your candidate. We support Barack Obama for President (
more information at http://www.barackobama.com ) because we need a new direction that includes
fiscal responsibility, global awareness, and responsive leadership at home. So mark your calendar
for Election Day on Tuesday November 4th and go vote.
Finally, a thank you to those who
gave us tremendously positive feedback on our Summer "Organic Marketplace" issue. If you missed it
or would like to share the articles with friends, all past issues are archived on greenmoney.com
- Cliff Feigenbaum, founder and publisher, Santa Fe, NM cliff@greenmoney.com
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Feature articles
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The GreenMoney Interview: Barbara J. Krumsiek, President and CEO, Calvert Investments
One of the more enjoyable tasks at GreenMoney Journal is interviewing true leaders in the socially responsible investing world.
by Cliff Feigenbaum, founder of GreenMoney Journal
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Notes From the Leading Edge of Social Finance
The era of Wall Street domination is over.
by Don Shaffer
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Bringing Clean Energy to the World One Investment at a Time
Nationwide power shortages cause rolling black outs in Nepal, but many remote Nepalese villages in the Himalayas have a continuous supply of electricity. In El Salvador load shedding hampers simple activities like working at night, yet small rural towns have a constant stream of light. South Africa, where the energy crisis is by all accounts worsening, is still home to retirement facilities and orphanages that have enough power to consistently provide hot water for their residents.
by Tracy Smith
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Sustainable Investing 2.0
I've been a yogi by dawn and a Certified Financial Planner by day for fourteen years. I've worked with people with hundreds of millions of dollars, as well as people who are a hundred thousand in debt. I've counseled captains of industry who are driven to ever-higher levels of success and social activists one paycheck from eviction. While there's no denying that it is easier to be rich than poor, I have found that without exception it makes little difference what people's outer life circumstances are - everyone struggles with some aspect of their relationship to money.
by Brent Kessel
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Socially Responsible Investing in Canada
Buoyed by climate change and other issues, the socially responsible investment (SRI) industry in Canada has grown significantly in the last few years. New companies have entered the market launching new funds and other products and grabbing attention from the media, policymakers and financial heavyweights.
by Eugene Ellmen
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Exclusive Articles
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A New Direction for Socially Responsible Investing: MicroPlace
Ngeim Men and Ashwini Narayanan are sitting in front of a thatched house, built Khmer style on stilts, about 80 km outside of Phnom Phen. "I learned to make this from my mother," Ngeim Men says as she weaves. "This is my business. I make baskets and sell them in the market."
by Janet Bumpas, MicroPlace
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The Green Real Estate Finance Story
Shhhh...I can hear the rumbling of the next stampede, the seismograph needle is rising toward the red zone. Another dot-com-type-thing in the capital markets!? Surely could not be part of today's real estate industry!…or could it?
by Tomek Rondio, CEO, Mortgagegreen, Inc.
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Additional Online Articles
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Obama's Challenge: America's Economic Crisis and the Power of a Transformative Presidency - By Robert Kuttner (Chelsea Green, 2008)
Book Review By Hazel Henderson, author, Ethical Markets: Growing The Green Economy, Chelsea Green, 2006
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The 19th Annual Socially Responsible Investing in the Rockies Conference, October 26-29, 2008
The annual SRI in the Rockies Annual Conference, "Beyond Borders: Investing & Partnering for a Sustainable World,", is October 26-29, 2008 at the Fairmont Chateau Whistler in Whistler, British Columbia, Canada. More conference information at http://www.SRIintheRockies.com
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Socially Responsible Investing Pioneer Celebrates 25th Anniversary
Trillium Asset Management Corporation was founded by Joan Bavaria in 1982
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Patagonia Pushes Boundary of Business' Role in U.S. Elections
Company Launches Innovative "Vote The Environment" Campaign
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Investors Achieve Major Company Commitments on Climate Change during the 2008 proxy season
Investors engaging with U.S. companies on the financial risks and opportunities from climate change achieved breakthrough results during the 2008 proxy season. A record 57 climate-related shareholder resolutions were filed with U.S. companies, of which nearly half were withdrawn after the companies agreed to positive climate-related commitments. Remaining resolutions that went to a vote received record high average voting support of 23.5 percent, including 39.6 percent support for a resolution filed with coal company CONSOL Energy, the highest vote ever on a global warming shareholder resolution.
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The 2008 SB20: World's Top Sustainable Stocks
SustainableBusiness.com recently announced its 2008 Sustainable Business 20 (SB20) List: The World's Top Sustainable Stocks.
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KLD, Ryan ALM and Mergent Launch Family of U.S. Environmental, Social and Governance (ESG) Corporate Bond Indexes
U.S. Corporate Bond Index Series (USCB) is First to Integrate ESG Ratings Criteria into U.S. Corporate Bond Index Product
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U.S. Cleantech Investment Climbs 41% in 2nd quarter of 2008 to Nearly $1 Billion, the Highest Quarter on Record
Solar companies have top three VC-backed deals overall; energy efficiency remains strong
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Investing in Water: Bringing Water to the Sea
Whether you wade into investing in water or dive in head first, the water industry offers investors many opportunities.
by Anne Moore Odell, socialfunds.com
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10 Innovative U.S. Finance Institutions Picked to Compete For $8.25 Million Wachovia Next Awards for Opportunity Finance
Large Awards Spotlight Past Performance and Future Potential in Hard-to-Serve Markets - Semifinalists in 8 States from California and Louisiana to New York and New Hampshire
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