TODO: Figure out what the title should be

Opportunity International to Expand Access to Financial Services in Tanzania

05.16.2012 - 09:38AM

(Marketwire) - Opportunity International announced it received a $250,000 grant from Monsanto Company, an agricultural company committed to improving farm productivity and crop quality, to expand access to affordable financial services in Tanzania that will enable emerging entrepreneurs to generate more income for their families, and contribute to the economic development of their communities.

"Opportunity International is grateful to Monsanto Company for supporting its efforts to alleviate global poverty by providing impoverished people with access to life-changing financial services," said Dennis Ripley, senior vice president, International Business Development, Opportunity International. "Over the past year, Opportunity has witnessed a tremendous growth in demand for small business microloans among struggling entrepreneurs in Tanzania. We started 2011 with just over 3,000 clients in Tanzania, and at the end of the 1^st quarter in 2012, we were serving more than 7,767 clients, representing a 159 percent increase."

Tanzania is one of the poorest countries in the world with approximately 90 percent of its people living on less than $2 per day, and 60 percent living on less than $1 per day. One out of every three Tanzanians is self-employed, yet less than five percent of the population has access to formal banking and financial services.

Since 2008, Opportunity has aggressively expanded its operations to enable a greater number of entrepreneurs -- the majority of whom are women -- to secure personal savings accounts, borrow capital for their businesses, receive training to develop professional and life skills, and obtain insurance to protect their assets. "With Monsanto Company's support, Opportunity is well-positioned to empower many more of Tanzania's poorest citizens to work their way out of chronic poverty, transforming their lives, their children's futures and their communities," continued Ripley.

"At the core of Monsanto's business is a commitment to improve the lives of people around the world, which aligns closely with Opportunity International's efforts to alleviate poverty and to empower the world's working poor through access to affordable, convenient financial services," said Natalie DiNicola, vice-president of sustainable partnerships, Monsanto. "It is our hope that the partnership with Opportunity will foster entrepreneurship among Tanzanian citizens and we look forward to witnessing the impact that our contribution will have."

Monsanto is committed to supporting farmers in developing countries through initiatives aimed at boosting agricultural productivity. The company is a partner organization in the World Economic Forum and supports the Southern Agricultural Growth Corridor of Tanzania (SAGCOT) initiative. Monsanto's involvement in SAGCOT is a part of the company's efforts to support Tanzanian President Kikwete's Kilimo Kwanza (Agriculture First) initiative, strengthening the country's economy through agricultural production.

About Monsanto Company
Monsanto Company is a leading global provider of technology-based solutions and agricultural products that improve farm productivity and food quality. Monsanto remains focused on enabling both small-holder and large-scale farmers to produce more from their land while conserving more of our world's natural resources such as water and energy. To learn more about our business and our commitments, please visit: www.monsanto.com. Follow our business on Twitter® at www.twitter.com/MonsantoNews, on the company blog, Beyond the Rows at www.monsantoblog.com, or subscribe to our News Release RSS Feed.

About Opportunity International
Opportunity International provides access to savings accounts, small business loans, insurance and training to over four million people working their way out of poverty in the developing world. Clients in more than 20 countries use these financial services to start or expand a business, provide for their families, create jobs for their neighbors and build a safety net for the future. For more information, visit www.opportunity.org.

Many U.S Mutual Fund Companies Falling Short in Proxy Voting on Climate Change

05.14.2012 - 02:16PM

The three largest mutual fund companies in the U.S. – American Funds, Fidelity, and Vanguard – managing over $1.6 trillion in U.S. securities in 2011, voted on dozens of shareholder resolutions last year seeking to improve corporate environmental and financial performance related to climate change. But in no case did any of the three firms cast an affirmative vote. That’s one of the major findings of a new analysis of proxy votes cast in 2011 by 44 of the largest U.S. mutual fund companies. Other major mutual fund companies such as TIAA-CREF and Wells Fargo performed much better, voting for a majority of such resolutions (see Appendix 1).

“Mutual fund companies have a fiduciary duty to vote in the best interest of their clients, but in the case of climate change, many are not doing so,” said Mindy Lubber, president of the sustainability advocacy group Ceres, which commissioned the analysis. “The dearth of support by industry giants – American Funds, Fidelity and Vanguard – is especially disturbing.”

“Most large companies face significant climate-related risks, including physical and regulatory impacts, but many are ignoring them,” Lubber added. “Shareholder resolutions are a key mechanism for shareholders to strongly encourage companies to disclose these risks and actions for managing them.”

A growing number of institutional investors – many of them part of the Investor Network on Climate Risk comprised of 100 institutional investors collectively managing about $10 trillion in assets – have publicly signaled that they view information about climate change risks as material to their investment decisions.

Many of these same investors filed dozens of shareholder resolutions in 2011 and 2012 requesting that companies disclose climate risks and strategies for managing those risks. Among those are the New York State and New York City Pension Funds and the California State Teachers’ Retirement System (CalSTRS), which together filed or co-filed 17 climate-related resolutions in 2011. All told, the Ceres study tracked 111 resolutions filed with 81 U.S. and Canadian companies during the 2011 proxy season on climate change and related sustainability issues.

In 2010, the U.S. Securities and Exchange Commission issued formal guidance requiring publicly traded companies to disclose material climate risks in their financial filings.

Although American Funds’ proxy voting guidelines call for a case-by-case voting strategy on issues such as climate change, the firm voted against every single climate-related resolution filed in 2011 with companies held in its mutual fund portfolios, according to the new analysis done by Jackie Cook of Fund Votes.

Fidelity abstained on 89 percent of the resolutions and voted against 11 percent even though its proxy voting guidelines state that abstentions are used mainly when information on economic impact is lacking. Yet there is a great deal of financial and analytical information available on the impacts of climate change and climate risk management strategies from highly respected institutions such as Deutche Bank, Generation Investment Management, and many others.

Vanguard’s 88 percent abstention rate (12 percent against) reflects a policy of deferral to corporate management on such issues even though Vanguard’s proxy voting guidelines call for action where an issue can have “a significant, tangible impact on the value of a fund’s investment and management is not responsive to the matter.”

“The movement over the last few years by Fidelity and Vanguard from voting against all shareholder resolutions related to climate change to abstaining on most is a very small step in the right direction,” Lubber said. “But it also a very passive strategy that simply defers responsibility to management. These mutual funds should be leveraging their influence to ensure the companies they invest in are taking their climate-related risks and opportunities seriously, and disclosing material climate-related information to their shareholders. As fiduciaries for their customers they have an obligation to do better.”

In some cases, according to the Fund Votes analysis, mutual fund voting is misaligned with the firms’ publicly stated positions on issues related to climate change. For instance, signatories to the Principles for Responsible Investment (PRI), BlackRock and AllianceBernstein supported less than five percent of climate-related resolutions on which they voted in the 2011 proxy season. PRI signatories publicly endorse six PRI principles, including Principle 2, which states: “We will be active owners and incorporate environmental, social and governance (ESG) issues in our ownership policies and practice,” including proxy voting. The preamble to the principles states “…we believe that ESG issues can affect the performance of investment portfolios…”

Another example of misalignment is between Fidelity’s voting record and its recent on-line advertisements featuring water scarcity and ‘peak water’ as a key investment theme. Despite these ads Fidelity failed to vote for a single water-risk-related resolution that was part of the study.

Though the proxy voting record of the Big Three is lacking, many large fund companies do have proxy-voting records that show strong concern for the financial impacts of climate change. Some have voted in favor of more than 50 percent of shareholder climate-related resolutions at large US corporations (See Appendix 1 below for specific voting records). Firms with the best voting records in 2011, all supporting more than half of the climate resolutions, were: TIAA-CREF, Wells Fargo, Fifth Third, Credit Suisse, Oppenheimer, GMO and Delaware.

Appendix:

Percent of votes cast ‘for’ and abstained by 44 Large Mutual Fund Families on 2011 climate-related resolutions

About Ceres

Ceres is an advocate for sustainability leadership. Ceres mobilizes a powerful coalition of investors, companies and public interest groups to accelerate and expand the adoption of sustainable business practices and solutions to build a healthy global economy. Ceres also directs the Investor Network on Climate Risk (INCR), a network of 100 institutional investors with collective assets totaling more than $10 trillion.

For more information, visit http://www.ceres.org and http://www.incr.com.

###

Morgan Stanley Smith Barney Announces Launch of Investing with Impact Platform

04.26.2012 - 01:30PM

Morgan Stanley Smith Barney today announced the launch of a new investment platform designed to help clients align their financial goals and their personal values. The Investing with Impact Platform offers clients and Financial Advisors a broad range of investment options.

The concept of integrating social and environmental impact into investment decisions is not new, but its growing importance has led to a greater opportunity set for investors. Nearly one in eight dollars under professional management in the U.S. or about $3.07 trillion follows investment strategies that consider corporate responsibility and societal concerns.¹

"This is an important initiative for Morgan Stanley Smith Barney," said Andy Saperstein, Head of Wealth Management, U.S., at Morgan Stanley Smith Barney."We hear frequently from clients and Financial Advisors about the importance of integrating sustainability themes into their investment portfolios. Now through the Investing with Impact Platform, MSSB is able to offer our clients an action-oriented approach to combine financial returns and their personal values."

At launch, the Investing with Impact Platform will offer clients access to many opportunities spanning public and private market products through their Financial Advisors. This is the first phase in Morgan Stanley Smith Barney's focused effort to meet investors' desire for investment opportunities that center on positive social and environmental impact, without sacrificing financial performance potential. The launch of the Investing with Impact Platform will provide a substantial base on which to expand our offerings over time.

"Our goal is to build this into a robust offering to meet our clients' needs, regardless of their impact priorities or what their portfolio fit might require," said Paul Hatch, Head of Investment Strategy & Client Solutions at Morgan Stanley Smith Barney. "With over four million clients who have more than $1.7 trillion of investable assets, we are in a unique position to extend the reach of an 'investing with impact' program to one of the largest sets of investors in the world. Even a fraction of this total represents a substantial amount that could be invested in support of the common good."

"At Morgan Stanley and MSSB, sustainability is at the core of our business and now, with the launch of the Investing with Impact Platform, we are able to help our wealth management clients align their investments with their desire to positively impact their communities," commented Audrey Choi, Head of Global Sustainable Finance at Morgan Stanley. "We believe investments targeting positive environmental and social impact should be available to all investors from individuals to large scale institutions, and we look forward to continuing to broaden the reach."

To find out more about the Investing with Impact Platform at Morgan Stanley Smith Barney, please contact your Financial Advisor or email InvestingwithImpact@mssb.com.

Morgan Stanley Smith Barney, a global leader in wealth management, provides access to a wide range of products and services to individuals, businesses and institutions, including brokerage and investment advisory services, financial and wealth planning, credit and lending, cash management, annuities and insurance, retirement and trust services.

For further information about Morgan Stanley Smith Barney, please visit www.morganstanleysmithbarney.com.

Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,300 offices in 43 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.

¹ U.S. SIF: The Forum for Sustainable and Responsible Investment, Report on Socially Responsible Investing Trends in the United States, 2010

Investor Responsibility Research Center Institute Opens Research Award Competition With Two $10,000 Prizes

04.26.2012 - 11:00AM

The IRRC Institute today opened its second annual competition for research that examines the interaction of the real economy with investment theory. Two papers – one academic and one practitioner – each will receive the “2013 IRRC Institute Research Award” along with a $10,000 award. A blue-ribbon panel of renowned judges with broad finance and investment experience will carefully review submissions and select two winning papers. The panel of judges includes:

Mark Anson, Managing Partner & Chief Investment Officer, Oak Hill Investment Management
Robert Arnott, Chairman, Research Affiliates
Collette Chilton, Chief Investment Officer, Williams College
James Hawley, Professor & Director, Elfenworks Center for Fiduciary Capitalism, Saint Mary's College of California
Bill Miller, Chairman, Legg Mason Capital Management

The competition builds on this year’s inaugural award. The 2012 award recipients include:

Steve Lydenberg received the practitioner award and $10,000 for research on fiduciary obligation ( Reason, Rationality and Fiduciary Duty). A 30-year veteran of the asset management industry, Lydenberg is the founding director of the Initiative for Responsible Investment at the Hauser Center for Nonprofit Organizations at Harvard University and partner with Strategic Vision for Domini Social Investments. The research examines the benefits of fiduciaries' use of thought termed "reasonable" as opposed to "rational" in making investment decisions. The research is available here.

Professor Menachem Brenner and Dr.Yehuda Izhakian at New York University the Stern School of Business received the academic award and $10,000 for research about how stock prices are impacted by ambiguity, the unknown probabilities that generate risk (Asset Pricing and Ambiguity: Empirical Evidence). The research is available here.

Award submissions are due online by Friday, November 30, 2012, and winners will be notified and announced by February 2013. Submissions may be an original work created specifically for the IRRC Institute Research Award, or relevant unpublished papers, or papers that have been published after January 1, 2012. Winning papers will be published by the IRRC Institute and submitted to the Social Science Research Network for publication. The IRRC Institute also will distribute the winning papers to more than 5,000 individuals interested in the organization’s research. Full conditions for submission are posted at http://www.irrcinstitute.org/award.php.

“We are pleased to again sponsor this competition to encourage new research that integrates the analysis of private sector behavior with investment theory,” said Jon Lukomnik, executive director and award coordinator for the IRRC Institute. “Our inaugural award succeeded in generating thought-provoking research that serves investors, policymakers, academia, and other stakeholders – and focused attention on those papers. The panel of judges looks forward to reviewing new, innovative research that takes a critical look at the real economy in relation to portfolio and investment theory,” Lukomnik added.

Modern Portfolio Theory has dominated investment theory for a half century. That has increased the focus on security selection, portfolio construction, and other financial issues rather than attention on the real economy and investing. Simultaneously, the growing importance of the private sector relative to the public sector in the real economy has increased scrutiny of private sector behavior and economic activity, leading to the rise of a ‘responsible investing’ movement. Yet, a significant focus of that scrutiny is normative. That is, the private sector entity ‘should’ act in a certain manner with minimal attention on portfolio and investment theory. Thus, the IRRC Institute Award encourages new research integrating analysis of private sector behavior with investment theory.

More information regarding the award process, submission guidelines and calendar is available at http://www.irrcinstitute.org/award.php along with the award submission form, a Fact Sheet and Frequently Asked Questions. Biographies of the judges are available at http://www.irrcinstitute.org/award.php?page=judges.

The IRRC Institute is a not-for-profit organization headquartered in New York, NY that provides thought leadership at the intersection of corporate responsibility and the informational needs of investors. For more information, please visit www.irrcinstitute.org.

New Publication by Piraeus Bank On Climate Change And Business Opportunities In Greece

04.19.2012 - 11:00AM

In the framework of the European project climabiz carried out by Piraeus Bank in cooperation with WWF Greece and the consultancy Facets, a study was completed titled “Climate Change and Business Opportunities”. This study was prepared by Facets, and it is part of Piraeus Bank’s strategy for promoting green business as the major sustainable development perspective for Greece.

The purpose of this study is to raise awareness among the Greek business community, especially Small and Medium Enterprises, about the business opportunities that arise from climate change. It analyses the sectors of the Greek economy that present investment opportunities, i.e. electricity from Renewable Energy Sources, infrastructure for energy saving in buildings, financial sector, insurance sector, organic farming, biofuels, food and beverage, telecommunications, and tourism. Business opportunities may emerge due to:

The new climatic conditions that will prevail in a region, which may be favourable for the pursuit of particular activities.
The regulatory framework adopted for managing climate change and reducing greenhouse gas emissions, which favours the penetration of efficient and clean technologies, creating new markets, such as carbon markets, etc.
The change in the behaviour of consumers, who, recognizing the importance of environmental issues and especially climate change, modify their habits and adopt new consumption patterns, increasing the demand for specific products and services.
The technological innovations adopted by businesses in order to adapt to the new circumstances and gain market shares.

Climabiz is an innovative project which prepares the market to adapt to the new conditions created by climate change, giving thus the opportunity to businesses to develop a competitive advantage, especially during the current economic situation in Greece. The project is co-funded by the European Union under the LIFE+ instrument.

The study can be found on the project’s website www.climabiz.gr.

ASBC Statement on H.R. 9, Majority Leader Eric Cantor's "Small Business Tax Cut Act"

04.19.2012 - 08:46AM

As the U.S. House begins debate on H.R. 9, the Small Business Tax Cut Act, the objective of the legislation needs to be assessed by those the bill seeks to help. As currently written, H.R. 9 is unlikely to promote job creation by the nation’s small businesses.

Real small business owners don’t make hiring decisions based on personal income or tax rate. Hiring decisions are based on demand for goods and services. If the demand is not justifying the addition of more employees, a marginal increase of income to the owner will not result in the hiring of workers.

It has been reported that the Joint Committee on Taxation has projected about $6500 as the tax break for the average small business qualifying under this bill. Because this is only a small amount of the actual cost to a business for adding an employee and because this is only a one-time tax break, small business owners will use this small “windfall” for things other than job creation. Even the wealthiest of small business owners with incomes over $1 million whose average tax break will be about $60,000 will be unlikely to put their “windfall” towards a new employee.

An effective job creation plan from Congress would be investing in Main Street through funding for infrastructure projects and workforce development that will strengthen our economy for the long-term. The creation of jobs through these efforts will in turn generate demand for our small businesses leading to natural growth in hiring.

Business Leaders Encourage Senate to Try Again to Pass Buffet Rule

04.17.2012 - 09:04AM

The American Sustainable Business Council (ASBC) and Business for Shared Prosperity (BSP) released the following statement in response to the failure today by the U.S. Senate to secure the 60 votes needed to advance the Paying a Fair Share Act of 2012 (S. 2230). The bill would have legislated a “Buffett Rule” assuring that households with incomes above $1 million did not pay lower tax rates than middle-income taxpayers.

Senators who used the filibuster to block an up or down vote on the Paying a Fair Share Act ignored the 60 percent of American voters who support a Buffett Rule tax. Professing to care about small businesses, they have ignored the 58 percent of small business owners who believe that millionaires pay less than their fair share of taxes. These filibustering senators have sent a clear message to the American people: they’d rather slash vital services that families and Main Street businesses depend on than ask America’s most prosperous citizens to pay at least as much as middle-class workers and small business owners.

America needs to restore a tax system that funds our nation’s needs, strengthens our shared infrastructure for success, and reflects our values of fairness. Today, the U.S. Senate squandered the chance to take an important step in that direction. We urge senators who blocked the Buffett Rule to reconsider.

In a letter delivered to Senators last week, ASBC, BSP and seven other business organizations disputed claims that a Buffett Rule would negatively affect small businesses owners, the vast majority of whom are middle-class Americans with incomes under the rule’s $1 million threshold. Only 1 percent of the 34 million households reporting any business income on their tax returns earn more than $1 million annually, according to data from the nonpartisan Tax Policy Center.

The letter also cited national, independent polling data showing that 58 percent of small business owners said households with incomes of more than $1 million a year pay less than their fair share in taxes. The scientific poll revealed that only one of the 500 small business owners surveyed reported an income above $1 million.

About The American Sustainable Business Council

The ASBC is a growing coalition of business networks representing over 100,000 companies and 200,000 business leaders. ASBC advocates for public policies that meet the realities of the 21st century global economy. www.asbcouncil.org

About Business for Shared Prosperity

The Business for Shared Prosperity is a network of forward thinking business owners, executives and investors. BSP has organized petitions for positive corporate tax reform and for ending top-rate tax cuts, and produced related reports. BSP is a member of the American Sustainable Business Council. www.businessforsharedprosperity.org

GoodCompany Group Merger

04.12.2012 - 05:19PM

GoodCompany Group is pleased to announce the launch of the nation’s most comprehensive resource for social entrepreneurs.

GoodCompany Group Merger. GoodCompany Group, a 501(c)(3), is the result of the recent merger of two non-profit organizations dedicated to serving social entrepreneurs, Green Village Philadelphia and GoodCompany Ventures. Green Village has developed a residential incubator consisting of 5,000 square feet of Class A office space to house up to 40 social entrepreneurs and offers mentoring and consulting services to non-resident entrepreneurs. GoodCompany Ventures is the creator of the country’s leading accelerator program for social entrepreneurs, as described below.

As a result of the merger, GoodCompany Group will be able to support social entrepreneurs from idea stage through launch and funding with a combination of advisory, physical and financial resources that is unique in the nation.

“We believe that we’re creating what will be one of the most comprehensive programs for sustainable businesses and responsible entrepreneurs in the country and we hope in the world. We want Philadelphia to be the center of all this.” said Joe Guagliardo, Board Co-Chair

GoodCompany Ventures Call for Applicants. GoodCompany Group announces that it is now accepting applicants for the 2012 Ventures Program. GoodCompany Ventures, now in its fourth year, was the first accelerator dedicated to the specific needs of social entrepreneurs and remains the most selective, most intensive and most successful program of its kind.

To date, the GoodCompany Ventures program has graduated over thirty companies and has helped them raise over $30mm in private capital to fuel their social missions. GCV graduates win entry to top venture forums (i.e. Tech Crunch and Demo), and international technology and social enterprise awards (i.e. Thiel Fellowship, MIT Social Media Prize, Mashable/United Nations Start-ups for Good, Wharton Africa Prize, Skoll/DIYA for India, etc.). Their social innovations are featured in national media (i.e. The New York Times, Business Week, USA Today, ABC, BBC, CNN, Discover Magazine, Huffington Post, etc.) as well as venture outlets (i.e. Tech Crunch, Venture Beat, etc.).

GoodCompany will select a class of 8-12 entrepreneurs developing innovative, market-based solutions to unmet social needs. We look for new ideas from around the world and past classes have included entrepreneurs from the UK, India and China. Our entrepreneurs will work together for the summer in our space in central Philadelphia. The program is structured around a ten-week curriculum designed to optimize each project's business model and prepare the entrepreneurs for presentation at the GoodCompany Investor Forum in mid-September.

GoodCompany Group is proud to maintain the Ventures accelerator as the only national incubator program that does not charge fees or take equity from its participants. GoodCompany Group is a non-profit supported by the venture capital community whose members underwrite the costs of the program.

Applications will be evaluated on a rolling basis through our Early Decision Deadline of April 30th. For more information about the program and the application process, please visit www.goodcompanygroup.org.

About GoodCompany

For entrepreneurs and investors who believe there is a better way, GoodCompany helps the most promising social innovators realize their full impact through applying rigorous analysis, deploying proven growth strategies and matching capital resources from the business and venture community.

Meeting Higher MPG Standard Likely To Bring Higher Profits For All Automakers, nearly $2.5 Billion In Extra Profits For Detroit Three

04.04.2012 - 02:44PM

Automakers will likely make billions more dollars in profits - under proposed new national gas mileage and emissions standards that will be finalized later this summer. A new report - produced by Citi Investment Research and Analysis in collaboration with Ceres - shows that American automakers will likely enjoy the biggest percentage increase in profits (6.3 percent), pulling in an extra $2.44 billion dollars in 2020 under the standards. The industry as a whole will also likely see big profits, earning a 5.3 percent increase in profits of $4.76 billion in 2020.

“Automakers who invest in more efficient vehicles are investing wisely. Given the volatility of gas prices - and the likelihood that they’ll head through the roof again - it’s clear that customers want better fuel economy and delivering it means a better bottom line for the industry,” said Carol Lee Rawn, Transportation Director of Ceres, which leads a national coalition of investors and public interest groups working with companies to address global sustainability challenges.

The new report, “Fuel Economy Focus: Perspectives on 2020 Industry Implications,” evaluates the impact that meeting the proposed fuel economy/GHG standards would have on the car industry in the year 2020.

The report finds that meeting the proposed standards will likely boost total vehicle sales for the automotive industry as a whole by about four percent or around 600,000 vehicles. As a group Ford, Chrysler, and GM would also likely see an improvement over baseline vehicle sales by about four percent or 300,000 vehicles. Foreign automakers would likely record a three percent uptick in sales representing around 300,000 vehicles. Sales would increase because with increased fuel economy the overall cost of operating a car will go down and, consequently, consumers will have more spending power to buy more vehicles or more expensive vehicles.

“Although the automotive industry as a whole will benefit by meeting the new standards, the Detroit Three will enjoy the highest relative profits boost,” said Walter McManus, School of Business Administration at Oakland University, who conducted the sales and profits analysis. “The reason we see these increased benefits for American automakers is because compared to foreign automakers they are currently more heavily invested in lower mileage trucks and cars. Under these standards the Detroit Three would have a greater potential to add customer value to those vehicles with improved fuel economy.”

According to the report, the new standards could largely be met by using existing technologies that improve the performance of cars powered by traditional internal combustion engines.

“Automakers today are already working on the improvements to the internal combustion engine and overall vehicle design to get us to 54.5 mpg. Turbocharged direct injection, advanced transmissions, electric power steering, low-rolling-resistance tires, turbo charging, variable valve lift and timing are available now and they continue to improve,” said Alan Baum, founder of Baum and Associates, who conducted the sector analysis. “These technologies are not only cost-effective, but also make for better performing vehicles than those currently on the market.”

The report finds that the added technologies required to meet the proposed fuel economy improvements are cost-effective for consumers. “Even if gasoline prices dropped to as low as $1.50 per gallon in 2020, money saved during vehicle use would fully offset the cost of added fuel economy technology,” said Dan Meszler of Meszler Engineering Services, who conducted the cost analysis. “Since gasoline prices are over twice that right now, it’s likely that consumer savings on fuel purchases will far outweigh the additional money consumers will spend on a new car.”

About Ceres

B Lab Announces 53 GIIRS Pioneer Funds and 17 GIIRS Pioneer Investors

03.21.2012 - 06:13PM

B Lab is pleased to announce the final group of GIIRS Pioneer Funds. Eleven new funds have joined the Pioneer Funds since October, bringing the total number of funds to 53. These new funds represent $366 million in invested capital, with a combined total assets under management for the 53 Pioneer Funds of $1.9 billion and investments in over 30 countries around the globe. The commitment by these investment practitioners to transparently measure impact using GIIRS is the driving force that makes the impact investing industry real. Please join us in celebrating their leadership.

The new GIIRS Pioneer Funds represent a diverse range of investment vehicles that address the financing needs of entrepreneurs globally, ranging from early-stage equity to long-term debt funding. Joining the GIIRS Pioneer Fund community in this final group are: Agri-Vie’s Agri-Vie I Fund, Pearl Capital’s AAC II Fund, Business Partners International (BPI) Rwanda SME Fund, Developing World Markets' (DWM) new private equity fund, Claro y Asociados’ Fondo de Inversión Social (FIS) Fund, Pacific Community Ventures’ PCV Growth Fund II, AlphaMundi’s Prometheus BoP Energy Access Fund, SEAF’s Permanent Capital Vehicle (PCV) Fund, RISKebiz’s Fund I, TBC Capital’s TBCCIIF-I Fund, and Conservation International’s Verde Ventures Fund.

All Pioneer Funds are listed on the GIIRS website. To date, 24 of these funds have received their GIIRS Rating Reports and are listed on the GIIRS Fund Directory.

More and more investors are committing to put their capital to work in these GIIRS Funds. Two new investors have joined the class of GIIRS Pioneer Investors. Sarona Asset Management and Halloran Philanthropies, both leading organizations in the impact investing industry, have publicly declared an investment preference for GIIRS rated companies and funds, and will use GIIRS Analytics to manage and benchmark their impact investing portfolios against a broad universe of impact data. There are now 17 GIIRS Pioneer Investors that collectively have $1.7 billion in impact assets under management.

These GIIRS Pioneer Funds and Investors recognize that scaling the impact investing industry requires improved capital markets infrastructure, including generally accepted standards for defining, measuring, and comparing positive social and environmental impact. “The leadership commitment of the GIIRS Pioneer Funds has created a wave of interest from investors who have been hesitant to make impact investments without transparent and comparable data on impact. Thanks to the GIIRS Pioneer Funds, these impact investors can come off the sidelines with exciting, viable investment options” said Andrew Kassoy, co-founder of B Lab, the non-profit organization that operates GIIRS Ratings and Analytics.

About B Lab and GIIRS

B Lab is a US-based nonprofit dedicated to building a new sector of the economy that uses the power of business to solve social and environmental problems. In pursuit of this vision, B Lab focuses on (i) developing the Global Impact Investing Rating System (GIIRS), a rating system that links private investment capital with for-profit social enterprises, (ii) establishing social and environmental performance standards for certifying B Corporations, and (iii) promoting a new corporate form for profit-based companies providing a public benefit. As of September 2011, there are over 450 Certified B Corporations from over 50 industries, representing a diverse multi-billion marketplace. For more information, visit http://www.bcorporation.net.

GIIRS is a comprehensive and transparent system for assessing the social and environmental impact of developed and emerging market companies and funds with a ratings and analytics approach analogous to Morningstar investment rankings and Capital IQ financial analytics. It seeks to spark the impact investment movement by providing a tool that is intended to change investor behavior and unlock the potential of this new asset class. GIIRS Ratings & Analytics will allow entrepreneurs, companies, and fund managers to better serve their customers, workers, and communities by raising capital from mission-aligned investors based on the social and environmental impact of their underlying businesses or portfolio companies. For more information, visit http://www.giirs.org/.

Antioch University Names Ms. Felice Nudelman Chancellor

03.19.2012 - 01:00PM

In a unanimous decision, the Antioch University Board of Governors appointed Ms. Felice Nudelman as its 5^th chancellor, effective July 1, 2012.

Felice Nudelman is Executive Director of Education for The New York Times Company where she is responsible for developing and overseeing education initiatives, including The New York Times Knowledge Network. She has helped lead the strategic thinking and implementation of their national and international education programs. She also led the development of a business model in e-Learning that includes collaboration with colleges and universities to create and deliver on-line courses.

Antioch’s commitment to social justice resonated with Ms. Nudelman, who also has a deep appreciation for the quality of education Antioch University provides its adult learners. “I’m thrilled to join a community that has such exceptional faculty and academic programs like the PhD in Leadership and Change.”

Before joining The New York Times, Ms. Nudelman served as executive director for Pace University’s School of Education, receiving Pace’s Outstanding Contribution award for her work. At Bloomfield College, Ms. Nudelman’s leadership as associate dean of academic affairs led to increased focus on student-centered services and faculty support, gaining Bloomfield a national award in the area of academic advising.

“Ms. Nudelman brings an abundance of experience and talent to Antioch University,” said Lawrence Stone, chair of the Board. “We were looking for a leader who is innovative and can make the good ideas come to life quickly to benefit the entire institution. We’re ecstatic that she agreed to make this commitment to lead us to a position of strength and vitality.”

Ms. Nudelman succeeds Dr. Tullisse Murdock, who announced her retirement last November effective June 30, 2012, after 15 years with the University – 7 of those as Chancellor. “I’ve known Felice since we served on the CAEL Board together, and could not be more pleased with the Board’s selection of her as the next chancellor. Felice’s enthusiasm for Antioch’s core values – excellence in teaching and learning, nurturing student achievement, supporting scholarship and service, a commitment to social engagement, and building and serving inclusive communities – will serve the system well. This University is in good hands.”

An alumna of the 1995 Harvard Management Development Program, Ms. Nudelman obtained her B.A. in Fine Arts and Philosophy from Allegheny College, and her M.F.A. from the Pratt Institute.

A native of New Jersey, Ms. Nudelman will make her home in southwest Ohio.

About Antioch University

Antioch University, a national university, is a bold and enduring source of innovation in higher education serving over 4,000 adult students around the world and across the country, online and from its five campuses in four states in addition to its University-wide international and doctoral programs. Each campus offers degree programs that meet—and often anticipate—the pressing needs of its region and the wider world. The University is also home to the landmark Ph.D. in Leadership and Change; Antioch Education Abroad, an exceptional slate of immersive service and study programs; and WYSO, a leading public radio affiliate and an essential source of global news and opinion. As a result, our global network of 30,000 alumni are marked by their commitment to enlightened leadership, global awareness, and lasting engagement with the concerns of their professions and their communities. Together—students and alumni, faculty and staff—form a visionary community that strikes a rare and essential balance between idealism and experience. Visit us online at www.antioch.edu or on Twitter @AskAntioch or Facebook.

BASF Acquires Extrusion Technology from B.C. Foam: PET Foams for the Wind Energy Sector

03.07.2012 - 04:03PM

BASF has purchased the PET foam business of the Italian company B.C. Foam S.p.A., headquartered in Volpiano. The companies have agreed not to disclose the purchase price for the transaction. The acquisition includes production facilities and intellectual property rights, as well as a special extrusion process which enables the production of high-performance PET foams with very high densities.

“By expanding our portfolio of sophisticated structural foams, this acquisition will enable BASF to further strengthen its position as a leading foam provider. These PET foams are primarily used in wind turbine rotor blades and will extend our product range for the growing global wind energy market,” explained Dr. Wolfgang Hapke, president of BASF’s Performance Polymers division.

PET foams are both temperature- and chemical-resistant. As well as being used in the wind energy sector, high quality PET foam boards are employed in lightweight composite materials that are particularly well-suited for applications in the automotive and aeronautics industries, as well as in shipbuilding.

“The development of specific system solutions and new types of materials plays a decisive role in bringing forward sustainable energy generation. We will benefit from the expertise and synergies resulting from the acquisition of extrusion technology from B.C. Foam,” said Dr. Christian Fischer, president of Advanced Materials & Systems Research at BASF.

About B.C. Foam S.p.A.
This Italian company with 12 employees and headquarters in Volpiano near Turin was established in 1999 and is a provider of PET foams, the associated plant technology, and PET films.

BASF for wind energy
BASF supports the development of wind power as a climate-friendly source of energy in the energy mix. BASF’s portfolio for wind power applications comprises epoxy and coating systems, foams, special grouting mortars and concrete additives as well as lubricants. The innovative solutions from BASF facilitate more efficient manufacturing, coating and maintenance of rotor blades, foundations, towers and gearboxes of wind turbines. In this way BASF helps to make wind turbines more profitable and more durable. BASF continually develops and improves its wind power portfolio in close cooperation with its customers. More on products for the wind energy industry at: www.windenergy.basf.com

About BASF
BASF is the world’s leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. We combine economic success, social responsibility and environmental protection. Through science and innovation we enable our customers in almost all industries to meet the current and future needs of society. Our products and system solutions contribute to conserving resources, ensuring healthy food and nutrition and helping to improve the quality of life. We have summed up this contribution in our corporate purpose: We create chemistry for a sustainable future. BASF posted sales of about €73.5 billion in 2011 and had more than 111,000 employees as of the end of the year. BASF shares are trade on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). Further information on BASF is available on the Internet at www.basf.com.

First Affirmative Financial Network One Of Three U.S. Financial Services Companies Recognized As "Best For The World” In Worker Impact

03.07.2012 - 02:00PM

First Affirmative Financial Network (First Affirmative), the leading U.S. fee-only Registered Investment Advisor that focuses on sustainable, responsible, impact (SRI) investing, is being recognized today as one of the “Best for the World” companies in terms of creating the most positive worker impact.

First Affirmative is one of the first 500 “Benefit Corporations” in the United States and one of only about 30 in Colorado.

B Lab, the nonprofit organization that governs the B Impact Assessment and also certifies B Corporations, recognized First Affirmative Financial Network as:

Among the 15 top U.S. corporations in terms of positive worker impact.

One of three U.S. financial services companies to rank the highest on positive worker impact. In addition to First Affirmative, B Labs also awarded top honors to Partnership Capital Growth and The Caprock Group.

One of only three Colorado corporations to rank in the top of positive worker impact. The other two Colorado companies so recognized are Rally Software and Namaste Solar.

“First Affirmative Financial Network is a leader in the global movement to redefine success in business,” said Jay Coen Gilbert, co-founder of B Lab, the nonprofit organization that governs the B Impact Assessment and certifies B Corporations. “First Affirmative is among the best in the world at being the best for the world.”

“Unlike traditional corporations, B Corporations consider the full impact of all internal decisions on their employees, suppliers, community, consumers, and the environment—and are legally allowed to do so,” said First Affirmative President Steve Schueth. "This is the way we have conducted our business every single day over the past 24 years. The recognition that First Affirmative is receiving today is a confirmation of the value of operating in a more responsible manner. It also translates into a way to characterize the kind of companies we look to own in client portfolios.”

First Affirmative and the other “Best for the World” businesses earned a score in the top 10 percent of all Certified B Corporations and scored considerably higher than nearly 2,000 other sustainable businesses that have completed the B Impact Assessment. The B Impact Assessment, governed by the nonprofit B Lab, is the most rigorous, comprehensive, and comparable independent assessment of overall corporate impact and shows the relative value businesses create for society by comparing nearly 200 individual metrics on corporate impact on workers, consumers, suppliers, community, and the environment.

Certified B Corporations must: 1) meet rigorous standards of social and environmental performance; 2) legally expand their corporate responsibilities to include consideration of stakeholder interests; and 3) build collective voice through the power of the unifying B Corporation brand.

About First Affirmative Financial Network

First Affirmative Financial Network, LLC (http://www.FirstAffirmative.com) is an independent fee-only Registered Investment Advisor (SEC File #801-56587) offering investment consulting and asset management services through a nationwide network of investment professionals who specialize in serving socially conscious investors. First Affirmative produces The SRI Conference, the premier annual gathering of investors and investment professionals focused on sustainable, responsible, impact investing in North America.

About B Lab

B Lab is a nonprofit organization dedicated to using the power of business to solve social and environmental problems. B Lab drives systemic change through three interrelated initiatives: 1) building a community of Certified B Corporations to make it easier for all of us to tell the difference between “good companies” and just good marketing; 2) accelerating the growth of the impact investing asset class through use of B Lab’s GIIRS impact rating system by institutional investors; and 3) promoting supportive public policies, including creation of a new corporate form and tax, procurement, and investment incentives for sustainable business. For more information, go to http://www.bcorporation.net/ on the Web.

Western Union Offers New Service for Non-Profits to Move Money Efficiently and Conveniently Around the Globe

02.29.2012 - 08:00AM

The Western Union Company (NYSE:WU), a leader in global payments, today announced a suite of services specifically for non-profit organizations. The new options, available worldwide, will simplify how these organizations collect and move money, cutting their costs and enabling them to focus fewer resources on administration and more on their key missions.

The Western Union suite of solutions for non-profit organizations, announced in celebration of International Corporate Philanthropy Day, includes a dedicated team and software to help NGOs collect and move money more efficiently. With payment in 120 currencies available at 450,000 Agent locations in over 200 countries and territories, Western Union can help ensure that vital money reaches those who need it most, nearly anywhere in the world.

The Western Union^® offering also will help nonprofits better reach the estimated 40 million would-be donors in the U.S. alone who deal in the world of cash, rather than credit. Donors can make convenient cash contributions at more than 150,000 participating Western Union Agent locations, including many banks and supermarkets.

“Whether it’s getting emergency funds across town or making regular payments halfway around the world, Western Union’s nonprofit offering dramatically simplifies the process of moving money across the global financial system,” said Kurt Bulawa, VP, Retail Payments. “We provide convenience, speed, reliability and a paper trail that helps with auditing and boosts accountability. Now, with this new addition to our suite of offerings, we also are helping nonprofits do more with less.”

By eliminating financial intermediaries and reducing the number of currency conversions through this point-to-point offering, complexity will be reduced and money will move faster.

The new offering also will simplify and enhance international funds transfer by:

Employing a real-time, web-based tracking tool to monitor, track and verify transactions
Offering the ability to pay out funds in cash, direct-to-account, prepaid cards or mobile-phone based e-wallets
Enabling NGOs to pay out funds in more than 120 local currencies
Providing fast, reliable and convenient transfer including sender password authentication to send funds, daily dollar limits, transaction dollar limits and standardized pick-up procedures

To learn more about how Western Union^® NGO Solutions can help your organization, please contact:

The Americas:

Fernando Delas Carnevali

Fernando.Delas@westernunion.com

New York, United States of America

+1 201 914 5435

Asia-Pacific:

Vicky Liem

Vicky.Liem@westernunion.com

Beijing, China

+86 1 085 165 915

Europe, Middle East, Africa:

Curt Chadha

Curt.Chadha@westernunion.com

Vienna, Austria

+43 1 506 17 380

About Western Union

The Western Union Company (NYSE: WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil and Western Union Business Solutions branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders. As of December 31, 2011, the Western Union, Vigo and Orlandi Valuta branded services were offered through a combined network of approximately 485,000 agent locations in 200 countries and territories. In 2011, The Western Union Company completed 226 million consumer-to-consumer transactions worldwide, moving $81 billion of principal between consumers, and 425 million business payments. For more information, visit www.westernunion.com.

Detailed Research Shows Over $3 Trillion Invested in Green Transition

02.29.2012 - 08:00AM

Ethical Markets Media, LLC (USA and Brazil), released their 2012 GREEN TRANSITION SCOREBOARD® tracking private sector investments since 2007 in green companies and technologies globally, now totaling more than $3.3 trillion.

The 2012 Green Transition Scoreboard® (GTS) report finds Asia, Europe and Latin America catching up with the USA in total non-government investments and commitments for all facets of green markets. 2011 ended with a GTS total of $3,306,051,439,680, starting from 2007. Given the many studies indicating that investing $1 trillion annually until 2020 will accelerate the Green Transition worldwide and the over 100 research reports and articles referenced in this years' update, the "Green Transition Scoreboard® 2012: From Expanding Cleantech Sectors to Emerging Trends in Biomimicry" definitively shows green investments are becoming the norm.

As Ethical Markets recommends, institutional investors are shifting away from more speculative sectors such as hedge funds, private equity, oil and commodity ETFs. Ethical Markets hopes global investors are redeploying at least 10% of their portfolios directly in companies driving the Green Transition, putting green markets on track to reach the $10 trillion goal by 2020. The GTS data provides investment advisors the foundation to update their asset allocations to include green sectors, which Mercer, LLC, advises should represent 40% of portfolios – half to offset climate risk and half to capitalize on these opportunities.

Hazel Henderson, D.Sc.Hon., FRSA, global futurist, former science and technology advisor to the US National Science Foundation, National Academy of Engineering and Office of Technology Assessment, president of Ethical Markets Media, LLC, said, "this current transition from fossil fuels to greater efficiency and renewable energy and resources is simply the next stage in human knowledge and scientific progress." Dr. Henderson is not alone, as she observes, "institutional investors have focused on climate risk and now have made the leap to opportunities in the global retooling for the inevitable green transition, estimated to be a $45 trillion new global market."

About the Green Transition Scoreboard®, physicist Fritjof Capra, author of The Hidden Connections, finds that, "this important initiative tracks a quiet revolution: the Green transition to technologies that tend to be small-scale, community-oriented, non-polluting, energy-efficient, and labor-intensive, creating plenty of jobs. What more could we want?"

To highlight the shifting paradigm, Timothy Nash, M.Sc., Senior Advisor to Ethical Markets Media, LLC, explains, "One example is the recent burst of activity in the M&A space, largely due to companies spending cash they've hoarded since the 2009 credit crunch. They are finally ready to deploy capital and are expanding into the green space. In addition to developing R&D in-house, firms like Google, DuPont, and Toshiba are acquiring small and medium-sized cleantech companies."

Rosalinda Sanquiche, Ethical Markets Media's Executive Director and editor of the Green Transition Scoreboard® report, points out, "As impressive as $3.3 trillion is, there are many green market investments omitted from the GTS – smaller ventures blossoming around the world. Thousands of investments ranging from $100,000 to several million offer significant opportunities to move the green economy forward at the local and regional levels, transforming Main Street beyond Wall Street's attention." She encourages smaller, decentralized, local enterprises, many inherently more sustainable than large companies, and often generating more jobs, to contact the Ethical Markets research team.

The GTS and Ethical Markets Media, LLC, have earned praise from Joel Makower, chairman and executive editor of fellow media company the GreenBiz Group: "humans, like all nature, survive on feedback loops that help us assess our world and, if we're to survive and thrive, make adjustments along the way. The Green Transition Scoreboard is a critical contribution to that feedback, tracking the size and scope of our transition to a greener economy. It provides a hopeful measure of the unlimited potential to restore our world – profitably."

The full report is available at www.greentransitionscoreboard.com.

Ethical Markets Media, LLC, is an independent, multi-media company, its mission to reform markets and metrics while growing the green economy worldwide with daily analysis and reporting on the global green transition and responsible, ethical investments and companies globally (www.ethicalmarkets.com and www.mercadoetico.com.br).

On Valentine's Day, Consumers Encouraged To "Break Up" With Banks That Are Using Them And Abusing Them

02.14.2012 - 11:19AM

Feeling unhappy in your relationship with your mega-bank? Maybe it is time to break up.

This Valentine’s Day, the nonprofit Green America is highlighting the ethical abuses perpetrated by many mega-banks and urging fed-up consumers to “dump” bad banks. From questionable lending practices to financial support of environmentally destructive practices to abusive fees, big banks engage in behavior that should cause many Americans to reconsider their banking relationship.

Green America is encouraging American consumers to opt for community development banks and credit unions instead. Community development banks, credit unions, and other financial-services organizations, such as community development loan funds, measure their returns both in terms of financial profitability and social impact. These institutions are helping the hardest hit communities in the United States – the ones most devastated by the recent recession - rebuild.

Green America Corporate Responsibility Director Todd Larsen said: “If you are not feeling the love from your big bank, Valentine’s Day is the perfect day to dump it. It is time for Americans to take a stand against abusive bank practices and banks who don’t value the relationship with their clients. Looking for a banking arrangement where you are not always giving and your bank is not always taking? Then, it’s time for you to think about sending a “Dear John” letter to your mega-bank and getting into a healthy financial relationship with a community development bank or credit union instead.”

Not sure what to do next? Check out Green America’s brand-new Break Up With Your Mega-Bank website, go to http://www.BreakUpWithYourMegaBank.org. The site has all the tips and information you need to break up with a mega-bank, start a healthy banking relationship today, and see the positive impacts your money can have.

Community development institutions grew quickly over the past decade, as more and more investors recognized the positive impacts of community investing. They operate with the express goal of creating resources and opportunities for groups, businesses, and individuals who are underserved by traditional financial institutions. Community investors help finance projects that lift communities economically. In rural and urban areas (and internationally), community investors provide capital that supports job creation, financial services to low-income individuals, start-up funds for small businesses, loans for affordable housing, and more.

ABOUT GREEN AMERICA

Green America is the nation’s leading green economy organization. Founded in 1982, Green America (formerly Co-op America) provides the economic strategies, organizing power and practical tools for businesses and individuals to solve today's social and environmental problems. Green America’s green economy programs encourage corporate responsibility, tackle climate change, build fair trading systems, advance healthy, local communities, and provide green purchasing and investing information for families and businesses.

To receive Green America’s popular publications, including the Green American and the National Green Pages™, participate in Green America’s Green Business Conferences or Green Festivals, or to get its free e-newsletter, providing the latest green news, green discounts, and opportunities to take action for a green economy, visit www.GreenAmerica.org, email info@GreenAmerica.org, or call at 800-58-GREEN

Western Union and USAID Extend African Diaspora Marketplace Deadline

02.10.2012 - 06:07PM

The Western Union Company (NYSE:WU), a leader in global payment services, its Foundation, and the United States Agency for International Development (USAID) have extended the application deadline for the African Diaspora Marketplace to March 2, 2012. The ADM is an initiative that encourages sustainable economic growth and employment by supporting diaspora entrepreneurs and other entrepreneurs who are U.S.-based and have a demonstrated relevant connection to, or experience in, Africa.

Proposals need to be submitted by 5pm EST March 2, 2012. Information about ADM II, eligibility requirements, and how to apply can be found at http://www.diasporamarketplace.net

About Western Union

About the Western Union Foundation

Through Western Union's Our World, Our Family^(R) signature program, the Western Union Foundation supports initiatives to empower people through access to economic opportunity. Recognized by the Committee Encouraging Corporate Philanthropy in 2009, the program is a five-year, $50 million commitment reflecting efforts made by Western Union employees, Agents and partners around the world. Since 2001, the Western Union Foundation has awarded more than $73.4 million in grants to more than 2010 nongovernmental organizations (NGOs) in 104 countries and territories. To learn more, visit http://foundation.westernunion.com.

About USAID

USAID is the lead U.S. government agency providing development and humanitarian assistance to people around the world. USAID works in 49 countries in sub-Saharan Africa to promote good governance and democracy, broad-based economic growth, high quality health care and education, and peaceful and secure communities. The agency's Global Development Alliance (GDA) links U.S. foreign assistance with the resources, expertise and creativity of the private sector as well as nongovernmental organizations. Since its launch in 2001, the Global Development Alliance has changed the way U.S. international development projects are financed and implemented. By cultivating more than 900 public-private alliances with over 1,700 individual partners, it has allowed USAID to leverage an additional $9.6 billion in resources for development. For more information about USAID and its programs around the world, visit www.usaid.gov. For more information on Global Development Alliances, visit www.usaid.gov/gda/index.html.

Opinion Poll: Small Businesses Say Weak Customer Demand, Not Regulations, Their Problem

02.01.2012 - 11:30AM

Small business owners say their main concern is weak customer demand, not regulations, according to independent opinion polling released today. In fact, when asked what would do the most to create jobs, small business owners’ top response was eliminating incentives to move jobs overseas. Reducing regulation came in fifth place.

Small business owners see government standards as an important tool to level the playing field with big business. In addition to protecting small businesses the vast majority of owners view regulations as a necessary component of a modern economy. Click here to read the report, based on a national survey of 500 small business owners, released today by the American Sustainable Business Council, Main Street Alliance and Small Business Majority.

“These survey results underscore what Main Street small business owners have been saying all along: we need more customers, more demand, not deregulation,” said Jim Houser, owner of Hawthorne Auto Clinic in Portland, Oregon, and a leader with the Main Street Alliance. “In fact, I’ve seen first-hand from over 35 years in the auto industry that smart standards help create jobs and promote innovation in the U.S. economy.”

“Despite the heated rhetoric, regulations simply aren’t small businesses’ top concern,” said John Arensmeyer, founder and CEO of Small Business Majority. “Small businesses can be the jobs engine we need to jumpstart the economy, but not if legislators are focusing on something that isn’t their top problem. Policymakers should listen to what real small businesses are saying and act accordingly.”

"With football at the top of everyone's mind, if we played the game with no rules the Super Bowl winner would come down to which team was bigger or willing to play dirtier," said Frank Knapp, Jr., Vice Chair of the American Sustainable Business Council and president and CEO of the South Carolina Small Business Chamber of Commerce. "Well, regulations are the rules of the game we call private sector competition. An overwhelming percent of small business owners agree that without fair regulations creating a level playing field, small businesses won't be able to compete against big businesses. From our perspective, the effort to kill regulations is big businesses’ way of rigging the game in their favor."

Key findings from the survey include:

Small business owners see their top problem as weak customer demand, not regulations: 34 percent cited weak customer demand as the most important problem for their business, while only 14 percent named government regulations.
On the question of what would do the most to create jobs, cutting regulations came in low on the list: the top response was eliminating incentives to move jobs overseas at 24 percent; reducing regulation was fifth at 10 percent.
Small business owners see an important role for standards and safeguards: 78 percent believe some standards are important to protect small businesses from unfair competition, and 76 percent believe regulations on the books should be enforced.
Small business owners see regulations as necessary for a modern economy: 93 percent agree their business can live with some regulation if it is fair, manageable and reasonable.
Small business owners express strong support for specific rules and standards: 78 percent support rules to prevent health insurance companies from increasing rates excessively, 84 percent support food safety standards, 80 percent support product safety standards and 80 percent support disclosure and regulation of toxic materials.
Small business owners support clean energy policies: 79 percent support ensuring clean air and water, and 61 percent support moving the country towards energy efficiency and clean energy.
Small businesses believe in streamlining government processes: 73 percent of respondents believe we should allow for one-stop electronic filing of government paperwork.

For more information on these poll findings, visit:
http://www.asbcouncil.org/poll_regulations.html

http://mainstreetalliance.org/5511/poll-regs-economy/

http://smallbusinessmajority.org/small-business-research/downloads/020112_Regulations_Poll_Report.pdf

Poll results reported in this statement represent findings from an Internet survey of 500 small business owners nationwide, commissioned by the American Sustainable Business Council, Main Street Alliance and Small Business Majority, and conducted by Lake Research Partners. The survey was conducted between December 8, 2011, and January 4, 2012. It has a margin of error of +/- 4.4%.

The American Sustainable Business Council is a network of business organizations representing over 100,000 companies and 200,000 business leaders. ASBC advocates for public policies that meet the realities of the 21st century global economy including strategic investments in workforce and infrastructure; standards and safeguards that promote innovation, prevent abuse and protect critical resources; and a new sustainable economic model that fosters a growing, economically-secure middle class. www.asbcouncil.org

The Main Street Alliance is a national network of state-based small business coalitions. MSA creates opportunities for small business owners to speak for themselves on issues that impact their businesses and local economies. www.mainstreetalliance.org

Small Business Majority is a national nonpartisan small business advocacy organization, founded and run by small business owners, and focused on solving the biggest problems facing America’s 28 million small businesses. We conduct extensive opinion and economic research and work with small business owners, policy experts and elected officials nationwide to bring small business voices to the public policy table. www.smallbusinessmajority.org

Blackstone Forms European Power Generation Partnership

01.24.2012 - 12:40PM

Blackstone (NYSE: BX) announced today that funds managed by it are forming a partnership with PQ Energy to acquire or to develop power generation facilities throughout Europe. Headquartered in Zurich, Switzerland, PQ Energy is led by a seasoned management and technical team. The team has extensive power project development and operating experience as well as a strong track record of identifying and investing in power generation assets and creating significant long-term value.

Blackstone’s funds have partnered with PQ Energy to provide necessary investment capital to the European power sector at a critical time when traditional sources of power supply have fundamentally changed due to the addition of substantial renewable generation and the planned retirement of significant nuclear and coal capacity. PQ Energy also intends to seek opportunities to partner with existing power generation owners as these owners consider reshaping their existing asset footprint via acquisitions or divestitures.

The PQ Energy team’s extensive experience in the European power generation sector coupled with the significant capital resources of Blackstone’s funds and Blackstone’s strong track record as an investor in power generation, uniquely positions PQ Energy to acquire and/or develop attractive power generation assets. This investment is the second European power generation investment in the past six months made by funds managed by Blackstone, following the successful financial closing of Meerwind, Germany’s largest offshore wind farm project. Blackstone’s private equity and energy groups have been active investors in the energy sector, having invested/committed approximately $5 billion of capital in twenty transactions on four continents since 1997.

PQ Energy will be led by Rolf Kehlhofer, formerly President of ABB Power Generation, and Dominique Candrian, formerly Vice President of ABB Energy Ventures, who have assembled a team of former ABB power development professionals to capitalize on this opportunity. The team has collectively developed more than 30,000MW of power generation capacity over the past 25 years. Peter Giller, formerly CEO of International Power and President of ABB Energy Ventures, will act as a senior adviser to PQ Energy.

Dominique Candrian, PQ Energy’s CEO, said: “Investment in flexible power generation assets will be necessary to complement increased power generation from intermittent renewable sources and to stabilize the European power grid at a time when many incumbent power operators face capital constraints and restructuring issues.”

Rolf Kehlhofer, PQ Energy’s President, said “With the financial backing of Blackstone, the Company has an attractive combination of industry experience and financial strength. Blackstone is a pre-eminent investor in the global energy sector and we are delighted that they have chosen to partner with us in this transaction.”

David Foley, Blackstone Senior Managing Director and CEO of Blackstone Energy Partners said: “The majority of the capital that Blackstone funds have invested in the energy sector has involved backing outstanding management teams to start businesses that address opportunities we see in the market and to build them to scale. We are excited to partner with Rolf, Dominique and the high quality team of experienced professionals at PQ Energy in this venture.”

About Blackstone
Blackstone is one of the world’s leading investment and advisory firms with total assets under management of $160 billion. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, the companies we advise and the broader global economy. Blackstone does this through the commitment of our extraordinary people and flexible capital. Funds managed by Blackstone have invested more than $5 billion globally to fund the acquisition and growth of a broad range of energy and natural resources companies and Blackstone is an experienced and active investor in this sector. Investments in energy and natural resources are funded jointly by Blackstone's Private Equity Energy Group, which is dedicated to investments in this sector, and Blackstone Capital Partners VI, a diversified general purpose private equity fund. Further information is available at www.blackstone.com.

Extraordinary Times Demand Extraordinary Acts -- The Stavros Niarchos Foundation Commits $130 Million to Help Ease the Adverse Effects of the Current Crisis in Greece

01.23.2012 - 09:44PM

/PRNewswire/ - The Board of Directors of the Stavros Niarchos Foundation, concerned with the socio-economic crisis in Greece, has committed up to $130 million (euro 100 million) over the next three years to help ease the adverse effects of the deepening crisis. This decision comes on the heels of a $1.9 million (euro 1.5 million) grant supporting a series of pilot programs addressing the country's mounting social needs.

The Foundation's purpose and philosophy, which focuses on vital issues in Greece as well as the rest of the world, remains to complement rather than replace the work of state and institutional organizations. Funds will be made available only to grantees that have the capacity and ability to utilize them effectively.

"The crisis is rapidly reversing decades of economic growth," stated Andreas C. Dracopoulos, Co-President and Member of the Stavros Niarchos Foundation Board. "Our commitment is to those most in need but is also a promise to future generations. Not only do we intend to offer immediate relief by funding social welfare and health programs, but we will invest in educational programs that should help ensure that the current crisis does not condemn future generations. We hope that today's announcement will inspire many other organizations and individuals that can and must help to do the same."

The Foundation has already received inquiries from individuals, who inspired by its initiatives, have expressed their willingness to co-invest together with the Foundation toward this effort and the future of Greece.

Today's announcement comes as the Stavros Niarchos Foundation Cultural Center (SNFCC) in Athens, by far the Foundation's largest single gift (euro 566/$790 million), approaches the beginning of the construction phase, with excavation works already in progress at the site. The Stavros Niarchos Foundation firmly believes that the project is of national importance, even more so under the current socio-economic conditions. It remains a testament and a commitment to the country's future, at a critical historical juncture. It is also an engine of short- to mid-term economic stimulus, which is essential under the current circumstances.

The Stavros Niarchos Foundation (www.SNF.org) is one of the world's leading international philanthropic organizations, making grants in the areas of arts and culture, education, health and medicine, and social welfare. The Foundation funds organizations and projects that exhibit strong leadership and sound management and that have the potential to achieve a broad, lasting and positive impact. The Foundation also seeks actively to support projects that facilitate the formation of public-private partnerships as effective means for serving public welfare.

From 1996 until today, the Stavros Niarchos Foundation has approved grant commitments of euro 948 million/$1.242 billion, through 2,115 grants to nonprofit organizations in 100 nations around the world. Out of the Foundation's total grant commitments, 79% of funds have been directed to organizations and initiatives in Greece, through 1,013 grants.

Gerber Life And Reading Is Fundamental Launch Project Open Book

01.23.2012 - 02:59PM

Gerber Life Insurance Company recently debuted Project Open Book, a Facebook campaign benefiting Reading Is Fundamental (RIF). To participate, Gerber Life Facebook fans across the country can upload a photo of their child into a mosaic on the Gerber Life Facebook page, and enter to win a $1,000 VISA gift card. For every photo uploaded, Gerber Life will donate $1 to RIF, the nation’s largest children’s literacy non-profit which provides books to children in underserved communities across the country.

“Given our focus on helping young families build a brighter financial future, specifically through our Grow-Up and College Plan products, Reading Is Fundamental was a natural partner. Their mission to support literacy and learning is consistent with the College Plan’s purpose to provide an easy and secure way for families to save for college,” said Wesley Protheroe, Chief Executive Officer at Gerber Life.

“Reading Is Fundamental is honored to partner with Gerber Life, given its long history of supporting families dedicated to their children’s future,” said Carol Rasco, president and CEO of RIF. “As we celebrate our 45th anniversary, the need to promote literacy continues to grow. In low-income communities, there is only one age-appropriate book per 300 children. It is clear that the time for a reading renaissance is now. Our partnership with Gerber Life for Project Open Book is the first step in many to help build a more engaged nation of young readers. ”

To honor the organization’s 45th anniversary, in November 2011, RIF unveiled a refreshed logo and awareness campaign designed to spark a widespread movement in support of reading. The campaign calls on “Book People” to unite, sharing the power of reading in an effort to get more books into the hands of young children.

Project Open Book will last from January 19 through February 13, with a goal of donating $10,000 to RIF. To enter, visit the Gerber Life Facebook page (http://www.facebook.com/gerberlife), and follow the directions to upload a photo. Participants may enter once and a winner will be selected by random drawing of all eligible entrants. The grand prize winner will receive a $1,000 VISA gift card; two first place winners will receive a $500 VISA gift card. For complete contest rules, please visit the Gerber Life Facebook page at www.facebook.com/gerberlife.

About Gerber Life Insurance Company

Gerber Life Insurance Company, founded in 1967, provides affordable, industry-leading juvenile life insurance and other financial products to young families. It is Gerber Life’s mission to be the brand parents and grandparents trust to help them achieve financial security and protection for their families at every stage of life. Throughout the United States, Canada and Puerto Rico, Gerber Life has more than $37 billion of life insurance in force, and helps provide financial security to over 3 million policies. For more information, visit Gerber Life’s website at www.gerberlife.com.

About Reading Is Fundamental, Inc.

Reading Is Fundamental, Inc. (RIF), founded in 1966, motivates children to read by working with them, their parents, and community members to make reading a fun and beneficial part of everyday life. RIF’s highest priority is reaching underserved children from birth to age 8. Through community volunteers in every state and U.S. territory, RIF provided 4 million children with 15 million new, free books and literacy resources last year. For more information and to access reading resources, visit RIF’s website at www.rif.org.

The SoHo Loft Capital Creation and Crowdfunding Event

01.18.2012 - 08:34AM

The SoHo Loft Capital Creation and Crowdfunding Conference will provide the global investing community with key insight into the direction of the U.S. capital markets during this period of regulatory transformation and the rapid progression of the developing ecosystem.

Attendees will be introduced to the Private Company Marketplace (PCM) including the private shares desks and exchange platforms, crowdfunding experts, secondary private share buyers, private stock analysts and senior executives of this market’s potential bellwether companies.

Additionally, attendees will have exclusive opportunities to network with congressional leaders, industry pioneers and demo exciting new technologies that we believe will fuel the growth of these new markets and lead us toward an era of economic prosperity.

The SoHo Loft Capital Creation Event Series Announces the Premiere Private Markets and Crowdfunding Conference

01.17.2012 - 04:27PM

Today NowStreet Media, voice for the rapidly emerging private company marketplace (PCM) and LDJ Capital, an international investment advisory and venture capital firm, announced that The SoHo Loft Capital Creation and Crowdfunding (TSLCCAC) Conference, the definitive forum for learning about the rapidly evolving markets for private company stock, will take place on Monday, January 23, 2012 from 1pm to 830pm at Reed Smith’s Conference Center in midtown Manhattan.

In this historic moment, the U.S. regulatory environment, its capital markets and the innovation that drives those markets are simultaneously on the threshold of dramatic change. We are currently witnessing the embryonic period of a cutting-edge stock market just as we usher in a new era of mass media. At the same time, new legislation aimed at facilitating capital formation is being introduced to support this modern infrastructure. There has never been a more opportunistic time to come together and exchange ideas.

TSLCCAC will provide the global investing community with key insight into the direction of the U.S. capital markets during this period of regulatory transformation and the rapid progression of the developing ecosystem. Attendees will gain a new understanding of how capital formation is changing as well as learn where new growth opportunities exist, how social media is transforming Wall Street and most importantly, how to capitalize in this changing paradigm.

Attendees will also have the opportunity to meet the leaders who are shaping the private markets including the private shares desks and exchange platforms, crowdfunding experts and platforms, angel and microfinancing groups, secondary private share buyers, private stock research analysts and senior executives of emerging private companies.

Speakers include industry veterans and congressional leaders such as Rep Patrick McHenry, the congressman responsible for introducing the HR 2930 also known as the “crowdingfunding bill” which has garnered strong bipartisan support; David Weild, Chairman and CEO of Capital Markets Advisory Partners and former Vice Chairman and executive committee member of The NASDAQ Stock Market; Lou Kerner, Wall Street’s foremost Social Media analyst with deep expertise in facilitating transactions in private shares; Vince Molinari, CEO of Gate Technologies CEO of Gate Technologies and expert congressional witness concerning capital formation; Jason Jones, Portfolio Manager of HighStep Capital; Phil Reicherz, Founder & Managing Partner at Magnolia Ventures LLC; Michael Moe, Co-founder and CEO at GSV Asset Management, the first publicly traded security (NASDAQ: GSVC) enabling all investors to own a piece of the world's most dynamic, VC-backed private companies; Boaz Rahav, General Partner of Greencrest Capital; Gerry DiFiore, Partner at ReedSmith and firmwide Chair of the firm's Corporate & Securities Group; Mitchell C. Littman, Esq., founding partner of Littman Krooks LLP with expertise in secondary market transactions; Bo Brustkern, Founder and Managing Director of Arcstone Partners, leading equity research firm for private company stock; Bert Szostak, Director of Private Shares Group at GFI Group; Richard Salute, Capital Markets and SEC Practice Director with J.H. Cohn; Jouko Ahvenainen, Co-founder of Grow VC, the first global peer-to-peer micro-funding service for startups; Andrew Rachmell, Co-Founder of peerbackers, a peer-funding platform; Brian Meece, Co-founder of RocketHub, a grassroots crowdfunding community; Zak Cassady-Dorion is co founder and partner of Startup Exemption, responsible for the framework of all current Crowdfunding legislation in congress; Howard Leonhardt, serial entrepreneur and Chairman of The California Stock Exchange; Julia Dilts, Co-Founder & CEO of Maverick Angels, LLC; Dr. Charles Sidman, Managing Partner of ECS Capital Partners and Angels; Bill Davis, President of Gate Impact; Alex Budak, Co-Founder StartSomeGood and Gene Massey, CEO of Mediashares, leading provider of patent-protected, fully SEC-compliant Direct Registration tools.

To view the agenda and/or register for tickets, please go to http://tslccac.eventbrite.com/. Only ticket holders will be permitted into the event. Press Passes will be provided to qualified members of the media at no charge. To receive Press Passes, please contact dsa@nowstreetmedia.com.

ABOUT THE SOHO LOFT CAPITAL CREATION EVENTS:

The Soho Loft Capital Creation (TSLCC) Event Series is the only global event platform where accredited investors; accomplished angels; microfinancing groups; CIOs of investors; select merchant and investment bankers; VCs; family offices; incubators; private equity firms; pre-IPO mutual funds; secondary stock buyers, sellers and equity analysts from across the world assemble in order to exchange ideas, discourse and opportunities that will help reshape the capital markets and stimulate economic growth. Our mission is to bring awareness and drive capital to the private company marketplace (PCM) as well as to help develop its infrastructure so that it can mature into a viable and functional institutional marketplace that facilitates capital formation, innovation, expansion and job creation. For additional information please visit us at http://thesoholoft.com and www.facebook.com/TheSohoLoftevents.

Portfolio 21 Investments' Latest Publications Address Ecological Risks and Opportunities for Investors

01.13.2012 - 03:21PM

Portfolio 21 Investments, a Portland-based investment management firm, has published two reports highlighting significant factors and trends impacting investors in the 21^st Century. The publications, Peak: Investing at the Edge of Ecological Limits and A New Foundation for Portfolio Management, offer a new framework for managing ecological risks and emerging opportunities, and meeting the multi-faceted needs of today’s investors.

Peak: Investing at the Edge of Ecological Limits

Unlimited growth has been the expectation for as long as there's been a stock market. It is the foundation of all traditional investment strategies, which is to manage volatility within an ever- expanding market. Today, we are exceeding ecological limits. The simple story of endless growth is giving way to something far more complex--a landscape of entirely different risks and opportunities.

A New Foundation for Portfolio Management

We are reaching a tipping point in portfolio management--a moment in which investors are expressing unique sets of goals and priorities that require a nuanced definition and understanding of economic utility. The purpose of this paper is to propose three new investment decision-making principles related to risk, growth, and utility: Integrated Risk, Selective Growth, and Multidimensional Utility Functions.

The lead author on both publications is Leslie E. Christian, CFA. Ms. Christian is CEO and CIO of Portfolio 21 Investments. The papers are available for download at www.portfolio21.com/publications.

About Portfolio 21 Investments:

Portfolio 21 Investments has been a pioneer in the field of environmental and socially responsible investments for nearly thirty years. The investment management firm is based in Portland, OR and has approximately $500 million in assets under management as of 12/31/11. Portfolio 21 Investments is registered with the SEC. You can find more information about us at the SEC's website www.adviserinfo.sec.gov and on www.portfolio21.com/about.

While Washington Waits, Investors Act on Climate Change

01.12.2012 - 04:12PM

Climate change creates enormous economic risks, but investors know it also represents one of the great financial opportunities of our time. And they are not waiting for governments to start moving on their own toward action.

That was the key message as 450 global investors controlling tens of trillions from four continents gathered today at the United Nations for the Investor Summit on Climate Risk & Energy Solutions.

“Climate change is certain to be a major factor in investments for the foreseeable future—perhaps the biggest investment factor of our lifetimes,” said Kevin Parker, global head of Deutsche Asset Management. He announced that although the pace of climate policy momentum slowed in some countries, the trend nevertheless remained strongly positive with 45 new, carbon-reducing policies adopted globally in 2011 compared with only four negative policy actions.

Investors signed onto an action plan calling for greater private investment in low-carbon technologies and tougher scrutiny of climate risks across their portfolios. Investors also announced new guidelines on how companies should be boosting their attention to climate risks and opportunities – and promised much closer scrutiny of companies that ignore them.

“Investors are acutely aware of climate impacts on the global economy and corporate bottom lines,” said Jack Ehnes, CEO of the California State Teachers’ Retirement System (CalSTRS), the nation’s second largest public pension fund managing $146 billion in assets. “As a matter of fiduciary duty, we must elevate our attention and action on this huge issue. That means improving our own practices and making sure companies we own are doing the same.”

Even with the tough words and record investments, there was strong agreement that bigger steps are needed – from investors, companies and government policymakers – to slow and eventually reduce pollution that is changing the earth’s climate and triggering more extreme droughts, heat waves and other catastrophic events.

“Our global carbon footprint is growing and our climate is discernibly changing,” said Mindy Lubber, president of Ceres, which organized the Summit along with the United Nations Foundation and the United Nations Office for Partnerships. “We need leaps, not baby steps, in tackling this colossal threat. And we need them now, not next year.”

Still, the Summit was chock-full of examples of strong investor focus on climate change, including:

Bloomberg New Energy Finance released new research data showing a record $260 billion in total clean energy investment in 2011, up five percent from $247 billion in 2010 and five times the total attained only seven years ago. Highlights of the ’11 data include a 36 percent surge in total investment in solar power to $136.6 billion and the U.S. overtaking China for the first time since 2008 in total clean energy investment. US investment was a record $55.9 billion, up 35 percent, while China saw investment rise just one percent to $47.4 billion.

“The news that the US jumped back into the lead in clean energy investment last year will reassure those who worried that it was falling behind other countries. However before anyone in Washington celebrates too much, the US figure was achieved thanks in large part to support initiatives which have now expired,” said Michael Liebreich, chief executive of Bloomberg New Energy Finance. “The performance of solar is even more remarkable when you consider that the price of photovoltaic modules fell by close to 50 percent during 2011, and now stands 75 percent lower than three years ago, in mid-2008.”

Global investment consultant Mercer issued a new report showing how leading global investors, including the nation’s largest public pension fund, CalPERS, are integrating climate change considerations into investment risk management and asset allocations. The report, "Through the Looking Glass: How Investors are Applying Results of the Climate Change Scenarios Study" comes on the heels of a Mercer report last year showing that climate change could contribute as much as 10% to portfolio risk over the next 20 years.

Summit attendees also learned that:

Renewable portfolio standards in 29 U.S. states represent a $400 billion investment opportunity, with much more possible if other states move in that direction.
GE’s Ecomagination unit is growing at twice the rate of the rest of the company and has already earned $85 billion in revenues.

Deutsche Asset Management released, “2011: The Good, The Bad, and the Ugly” at the Summit. It described generally mixed results on climate investments and policy in 2011 but projected the long-term growth in cleaner energy markets to continue.

Positive trends included China and Germany’s continued low-carbon leadership, the US Environmental Protection Agency’s issuance of new rules on hazardous air pollutants, Australia’s new carbon legislation, and Japan’s commitment to supporting the deployment of more renewable energy. Meanwhile, the international climate negotiations at Durban surprised the world by setting a schedule for negotiating a new “protocol” covering all countries, developed and developing, by 2015 – with binding targets to occur from 2020. They further noted that clean energy infrastructure and Venture Capital/Private Equity investing were still strong in the first three quarters of 2011.

The Deutsche report also highlighted negative trends such as the weak performance of cleantech public equity stocks in 2011 and the expiration of several US federal renewable energy incentive programs, including the “highly successful” Treasury Grant Program that expired Dec. 31, 2011. The report noted that the TGP program, in 2½ years, leveraged nearly $23 billion in private sector investment for 22,000 projects in every state across a dozen clean energy industries.

“We’ve made enormous progress in just the past few years, but we need to keep up our continued engagement with companies and policymakers to help advance the transition to a sustainable global economy,” said Anne Stausboll, chief executive officer of CalPERS, the nation’s largest public pension fund. “As fiduciaries, it is our job to make sure investors, businesses and policymakers are responding aggressively and creatively to the risks and opportunities associated with climate change and other sustainability issues.”

“We all have a role to play in moving this debate forward by addressing climate risks and opportunities in our portfolios. The New York State Common Retirement Fund is on board with this movement,” said New York State Comptroller Thomas P. DiNapoli.

“It’s essential—and entirely feasible – for investors to climate-proof their portfolios,” added Ceres head Mindy Lubber, which directs the Investor Network on Climate Risk, a network of 100 institutional investors with collective assets totaling about $10 trillion. “Investors need diversified, sustainable strategies that maximize risk-adjusted returns in a volatile investment environment.”

Climate-proofing portfolios can also result in attractive rates of return from climate and clean energy solutions, investors at the summit agreed. Speakers said government support for climate and clean energy investments is important, especially when it comes to scaling up clean-energy solutions to a level that will help prevent the damaging impacts of climate change going forward.

“The clean energy economy is coming—whether via severe crisis or, alternatively, via the unleashed human ingenuity that can forestall that crisis,” Lubber of Ceres told the investors. “You in this room have a lot to say about which option we choose.”

About Ceres and INCR

Ceres is an advocate for sustainability leadership. It leads a national coalition of investors, environmental groups and other public interest organizations working with companies to address sustainability challenges. Ceres also directs the Investor Network on Climate Risk (INCR), a network of 100 institutional investors with collective assets totaling about $10 trillion. For more information, visit http://www.ceres.org and http://www.incr.com.

About the United Nations Foundation

The UN Foundation was created in 1998 with entrepreneur and philanthropist Ted Turner’s $1 billion gift. The UN Foundation builds and implements public-private partnerships to address the world's most pressing problems and works to broaden support for the UN through advocacy and outreach. For more information, visit www.unfoundation.org.

About the United Nations Office for Partnerships (UNOP)

The United Nations Office for Partnerships serves as a gateway for collaboration between the private sector, foundations, and the United Nations family. It promotes partnerships and alliances in furtherance of the Millennium Development Goals and provides support to new initiatives of the Secretary-General. UNOP oversees the United Nations Fund for International Partnerships (UNFIP), the United Nations Democracy Fund (UNDEF), and partnership advisory services and outreach to a variety of entities. For more information, visit http://www.un.org/partnerships/YAboutUs.htm

Newmont Outlines Community Investment Programs for Conga Project in Peru

01.05.2012 - 03:24PM

Newmont Mining Corporation (NYSE: NEM) today outlined a number of community investment programs – developed in conjunction with local communities – that have been implemented or are under development in the Conga project’s area of influence in Peru. The programs, which are in addition to the numerous social investments Yanacocha has made over the last two decades, include efforts to advance health and education, critical infrastructure and economic development in Peru’s Cajamarca region. Implementation of the programs began four years ago and would continue over the life of the proposed mine. Details regarding the social investments can be found in the fact sheet released today by the company.

In addition to community investment programs, Conga is expected to generate more than US$2 billion in taxes over the life of the operation, half of which would be directed to the Cajamarca region through the mining canon. And while the project would replace four lagoons with four engineered reservoirs, downstream users would benefit from a reliable, year-round water supply, something they don’t currently have due to the lagoons not continuously overflowing into the natural streams during the dry season. The reservoirs would increase existing water storage capacity from 1.4 million cubic meters to 3.2 million cubic meters, providing water to downstream users 12 months a year.

“Conga’s community investment programs were designed by the local communities to address long-standing needs that they themselves identified as issues,” said Richard O’Brien, Newmont’s President and Chief Executive Officer. “Although many of these programs are still in their early stages, we’ve already seen tangible results including reductions in malnutrition, school drop-out rates and grade repetition. After the Conga project is built and starts generating revenues, we expect to see even greater improvements in community health, education, nutrition, infrastructure and economic development.”

To date, Conga’s community investment programs have resulted in:

An 8 percent decline in malnutrition (over four years since the program began) in children younger than 5 years;
Livestock production increasing to 5 tons per hectare up from 1 ton per hectare;
Native potato production increasing to 11 tons per hectare up from 5 tons per hectare;
400 properly ventilated stoves built in homes to reduce indoor air pollution, a major contributor to childhood respiratory problems; and
26 modern irrigation systems built to support Aguaymanto farmers.

In 2008, the Conga Project Team, in cooperation with the Asociacion Los Andes de Cajamarca, engaged 32 of the project’s neighboring communities to identify opportunities for sustainable local development. In 2009, Community Development Committees (CODECOs), comprising and led by local citizens, created the “2015 Community Vision,” which set targets for improvements in social, economic and community development.

In addition to the social, economic and infrastructure benefits expected from tax revenues, Conga’s initial social investment plans that will be implemented once the project is developed, include:

Approximately US$20 million to improve the exchange of goods and services through the construction of nearly 60 miles of new roads in the region;
More than US$6 million in programs, facilities and equipment to reduce malnutrition among children and pregnant women;
US$5 million to improve production and incomes of rural farmers; and
More than US$500,000 for the construction of 15 classrooms.

Prior to the suspension of construction activities at Conga, more than 6,800 people were employed, with the overwhelming majority coming from the local communities. In 2011, the Conga Project entered into contracts worth more than US$50 million with more than 60 local contractors.

More information about the Conga project, including a fact sheet on Conga’s water protection plan, can be found online at http://www.newmont.com/south-america.

Background on Conga’s Environmental Impact Assessment
Conga’s Environmental Impact Assessment has already undergone extensive reviews by 12 government agencies and was approved by the Ministry of Energy and Mines in 2010 following a three-year, public EIA process. The environmental and social studies in Conga's EIA spanned up to 13 years and the public engagement process included 13,000 people from the region. The EIA process was transparent and open to anyone who wanted to participate, provide input or raise issues. Conga's reservoirs would more than double the current water storage capacity of the four lakes in question from 1.4 million cubic meters to 3.2 million cubic meters and provide a reliable, year-round water supply to downstream users, something they don't currently have as a result of the dry season.

About Newmont
Founded in 1921 and publicly traded since 1925, Newmont (www.newmont.com) is one of the largest gold companies in the world. Headquartered in Colorado, the Company has more than 35,000 employees and contractors, with the majority working at core operations in the United States, Australia, Peru, Indonesia and Ghana. Newmont is the only gold company listed in the S&P 500 index and in 2007 became the first gold company selected to be part of the Dow Jones Sustainability World Index. Newmont's industry leading performance is reflected through high standards in environmental management, health and safety for its employees and creating value and opportunity for host communities and shareholders.

Mission Markets Investor Webinar: Renewable Energy & Clean Tech Opportunities

10.21.2011 - 12:02PM

Please join Mission Markets on Thursday, October 27^th at 2 PM (ET) for a live webinar on Renewable Energy and Clean Technology impact investing opportunities. Casey Gheen, Senior Managing Director, of Mission Markets will moderate an hour-long discussion with two of our current issuers, Burt Hamner (Founder & CEO) of Hydrovolts, an innovative hydropower company producing localized turbine technology, and Jim Torti (President & COO) from Noble Environmental Technologies, a manufacturer of new generation versatile core panel building products made from underutilized raw materials.

This event is a unique opportunity for investors and attendees to learn about two cutting-edge green companies and hear from management about their technologies, strategies, successes and plans for the future. Company presentations will be followed by an open Q&A session.

About Noble Environmental Technologies, Inc:

Noble Environmental Technologies, Inc. is an innovative technology company commercializing ECOR® products and services. ECOR® is a new generation environmental core technology of highly versatile, strong, lightweight, fiber panel products manufactured from an almost unlimited variety of readily-available, low-cost and underutilized raw material sources.

ECOR® panels possess exceptional versatility, curve-ability and extraordinary strength-to-weight ratios creating significant commercial potential across a variety of markets, both domestically and internationally. ECOR® products are extremely unique, high-performance composites with a multitude of architectural, industrial design, consumer product, and post-production applications.

About Hydrovolts, Inc:

Hydrovolts is a company that uses hydropower technology to generate reliable, local clean power that is economical and easy to harness.

The company has invented and is patenting in-stream hydrokinetic turbines that will revolutionize renewable in-stream power generation and make it cost-effective around the world. Among its many recognitions, Hydrovolts has won the Sustainability Award at the NW CleanTech Open, the Imagine H2O Water-Energy Nexus Prize, and has been named one of the top ten “Launch: Energy Innovators” by Launch, NASA, USAID, US Dept of State, and NIKE for its demonstrated impact for a more sustainable energy future.

Take advantage of this opportunity to learn more about impact investing, renewable energy, and clean technology!

Space is Limited.

Click Here to Reserve Your Webinar Seat Now

Mission Markets Webinar: Foundations in Impact Investing: Finding and Assessing PRI and MRI Opportunities that Further your Philanthropic Mission

09.21.2011 - 05:06PM

Program-related investments (PRIs) and market-rate mission-related investments (MRIs) provide a way for foundations to enhance their philanthropic impact through below market and market rate investments.

Foundations of all sizes have the ability to leverage their dollars to make high-impact debt and equity investments to support innovation and development in a range of fields, from education to healthcare to economic development. Hear from key thought leaders on the unique role of foundations and these specialized investments in the fast-growing impact investing space. Don’t miss this opportunity to learn more about the resources and opportunities available in this space!

Please join us for a Mission Markets Webinar on Thursday, September 29th at 2:00pm EST.

Discussion Topics:

Complement and augment foundation grantmaking with PRIs and MRIs
State of the industry: what is driving interest in program and mission related investing today
Discuss investor and issuer success stories first hand
Increase your Mission Impact through Venture Capital
Education and Resources provided by PRIMakers to advance the field
Source PRI and MRI opportunities for free using Mission

Markets Moderator: Vicky Stein Managing Director, Community Investments

Mission Markets Panel Speakers:

Peter Berliner - Managing Director, PRI Makers
Kiki Tidwell - President, Tidwell Idaho Foundation, Kauffman Fellow
Amir Hasson - Founder, United Villages

Space is limited. Register Now! You will receive a confirmation email immediately after you register with a link to join the meeting.

Forum on Fiduciary Responsibility

04.12.2011 - 09:30AM

Future of Fiduciary Responsibility

Thursday, June 9 to Friday, June 10, 2011 Millennium UN Plaza, New York, NY

The events of the past few years have brought into question much of what we thought we knew about the governance practices of corporations (large and small), the stability of long-expected pension benefits, and the rights and responsibilities of shareholders. With new law and regulations being enacted to define and expand the role of fiduciaries, it is clear that society and the government are now looking to investors to act as private regulators and key agents of change. In light of this emerging role, the need for responsible monitoring and activism has become greater than ever.

In response, Responsible-investor.com and American Conference Institute have come together to bring you the national Summit on the future of fiduciary Responsibility. Through the joint venture between Responsible-investor.com and American Conference Institute, we have developed a research-based, market-driven program that reflects the wants and needs of fiduciaries, trustees, attorneys and compliance specialists. Importantly, the conference is tailored in direct response to the questions and concerns expressed by you and your peers on the most pressing issues that fiduciaries face today. Through the collaboration, we have been able to solicit the input of attorneys, institutional investors, trustees and corporate governance officers in the U.S. and abroad, which has led us to build the premier institutional investor conference examining the evolution of legal rights and responsibilities.

We have brought together the leading chief compliance and legal officers, corporate governance directors, outside counsel and federal judges from across the U.S. and Europe to share information on how to best protect shareholder assets through responsible fiduciary practices. Come gain a comprehensive overview and thorough analysis of the current issues facing institutional investors, best practices in ensuring that value is being created by corporate executives and how to maximize recovery when losses do occur.

Benchmark your strategies, gain crucial knowledge and exchange tactics with the biggest players in the industry. Conference highlights include:

Examining the increased responsibility of shareholders to monitor corporate activity and ensure executives are increasing value and avoiding excessive risk
A look at Morrison v. NAB and an analysis of the current state of investor rights in light of recent
What are the hot topics in corporate governance? Analyze the most pressing issues and best strategic methods for implementing change
Examine the past, present and future of the subprime mortgage litigation crises: investigating yesterday's market collapse, today's litigation landscape and tomorrow's potential liabilities
Tackling the changing international landscape of fiduciary duties and politics in the investigating yesterday's market collapse, today's litigation landscape and tomorrow's potential liabilities
Tackling the changing international landscape of fiduciary duties and politics in the minimizing legal costs

…and so much more!

No other conference in the industry allows you to compare your litigation strategies and hot corporate governance issues with the best and the brightest in the industry while obtaining unparalleled advice for dealing with this complex area.

The MoneyShow San Francisco

06.18.2010 - 10:47AM

MoneyShow, the world's leading producer of investment trade shows and cruises, is pleased to announce its return to San Francisco for The MoneyShow San Francisco, being held August 19-21, 2010 at The San Francisco Marriott Marquis. The MoneyShow provides unique access to leading financial experts, which is motivating thousands of investors and traders to attend to hear their non-commercial insights and educate themselves on how to manage their portfolios more confidently and profitably.

The focus of this year's show is All About Technology. Attendees will have the chance to hear top experts' opinions on topics such as biotech, greentech, and nanotech. In addition, technology companies from around the globe will be on hand to give attendees the opportunity to test-drive their latest products and meet personally with expert advisors and technology service providers.

Slow Money's Second National Gathering

05.14.2010 - 10:46AM

Slow Money… It's not an 'ISM' (as in capitalism, socialism, consumerism, market fundamentalism…).

But it is a new way of connecting investors to local food systems, catalyzing new forms of social investing and philanthropy for the 21st century. Join the emerging network of investors, donors, entrepreneurs, farmers, and activists who are giving birth to the nurture capital industry.

Come to Shelburne Farms, a working farm and forest and National Historic Landmark -- a setting uniquely imbued with the history of capitalism and a nonprofit organization dedicated to forging a new future through sustainability education, creating social enterprises and strengthening local food systems. Enjoy the natural beauty of Lake Champlain. Meet thought leaders and change agents from around the country who are joining in this exciting project: designing capital markets that go beyond extraction and consumption all the way to preservation and restoration… starting with food and soil fertility.

The Wall Street Green Trading Summit

03.12.2010 - 06:13PM

The Wall Street Green Trading Summit is the much anticipated annual event where investors, entrepreneurs and Fortune 500’s discover the latest innovations and trends for the year in the environmental financial market which covers the cleantech, carbon and sustainability spaces. In a year of frozen investment dollars for renewable energy and low carbon solutions, the WSGTS will showcase how local governments, companies and consumers are successfully “Building the Bridge to the Green Economy: Creating Environmental Alpha,” the theme of this year’s event, despite the financial climate.

The industry leading event is in its 9th year and was founded by Peter C. Fusaro, Chairman of Global Change Associates, a 30 year veteran and author of the clean energy sector. The Wall Street Green Trading Summit has always been the practitioners’ conference. This is where attendees hear firsthand from green industry pioneers, and learn how to create financial solutions that get green projects and companies funded. Established companies and investors attend to discover innovators, understand how they can best participate in the industry and find new financial approaches to make their participation feasible.

“There’s a lot of talk about the green economy, but it isn’t here yet, we still need a lot of muscle to make it a reality,” explains Fusaro. “Everyone will be involved in the transition to the green economy - investors, the Fortune 500's and those with the solutions, and we need to ensure that all of these entities know how to leverage the rare opportunity that the transition provides.”

The Summit's 55 speakers feature some of the leading practitioners and innovators in renewable energy, cleantech, energy efficiency, carbon trading and finance, green hedge funds and carbon capture and storage. Presenters include Evolution Markets, Natsource, Element Markets, JP Morgan, Fortis Bank, The Green Exchange, Belgrave Trust, Mission Markets, NasDaq OMX, Carbon Trade Exchange, Brown Rudnick and other market pioneers.

The Summit’s world-class forum will afford attendees an opportunity to learn:
- Where the cleantech/sustainability revolution is now
- Why the price for carbon is the game changer
- How Wall Street is gearing up for the green financial revolution
- Why renewables and carbon credits work together
- How the smart grid creates environmental attributes
- Why more green hedge funds are entering the market now

The Economics of Peace

09.16.2009 - 03:56PM

This October, Praxis Peace Institute and RSF Social Finance are pleased to present The Economics of Peace in Sonoma, California. This unique 5-day event will address the pressing economic issues of our time and provide critical and collaborative tools for the economy of the future. The purpose of The Economics of Peace is to make visible the many emerging and innovative economic, market, financial, and exchange practices that are focused on environmental sustainability, social justice, and peace.

The conference will feature lectures, workshops, and plenaries on topics such as:

Spain's Mondragón Cooperatives (the world's largest consortium of worker-owned businesses)
Regional capital markets
Complementary currencies
Local living economies
New approaches to economic policy
Cultural myths of money
Race and class in new economic thinking

World Renowned Speakers Include:
James Galbraith, Vandana Shiva, David Korten, Riane Eisler, Mikel Lezamiz (Mondragón Cooperatives), Jacob Needleman, Congresswoman Lynn Woolsey, Sam Keen, A.T. Ariyaratne; Melissa Bradley-Burns, and Judy Wicks.

Workshop Leaders and Panelists Include:
John Bloom, C.J. Callen and Pilar Gonzales (Conversation on Money, Race, and Class); Charles Eisenstein (Sacred Economics); Bob Graham (Microcredit);Hazel Henderson (Ethical Markets); Richard Logie (Global Exchange Trading Systems); Terry Mollner (Common Good Investing); Daniel Pinchbeck (Evolver); Kelley Rajala, Derek Huntington, and Mary Rick (Local Living Economies); David Ransom (Social Change); Don Shaffer (Regional Capital Markets); Norman Solomon (Green New Deal); Woody Tasch (Slow Money); Andrew Kimbrell (Salmon Economics); Trent Schroyer (Sustainable Economic Cultures); Stephanie Rearick (TimeBanking); Tom Greco (Complementary Currencies)

Co-sponsors Include:
Berrett-Koehler Publishers, E.F. Schumacher Society, BALLE (Business Alliance for Local Living Economies), Mother Jones Magazine, New Resource Bank, the North Bay Bohemian, Green America, the Sonoma Community Center, Westerbeke Ranch, Esalen Institute, Sonoma County GoLocal, Sustaining Technologies, Yes! Magazine, and others.

Rethinking Risk & Reward: Communities, Consumers, & The New Financial Landscape

02.24.2009 - 11:00PM

DAYBOOK/CALENDAR ITEM
FOR FEBRUARY 25, 2009

ORGANIZER: Opportunity Finance Network, a national network of financial institutions that originated more than $19.8 billion in responsible financing in non-conforming urban, rural, and Native communities through 2007.

CO-HOSTS:

Bank of America

Center for Responsible Lending

Chicago Community Loan Fund

Citizen Potawatomi Community Development Corporation

Corporation for Enterprise Development (CFED)

The Ford Foundation

Low Income Investment Fund

The Milken Institute

National Community Reinvestment Coalition (NCRC)

National Council of La Raza

Net Impact

Northeast Entrepreneur Fund

Northern California Community Loan Fund (NCCLF)

Opportunity Finance Network

Partners for the Common Good

The Reinvestment Fund

RW Ventures, LLC

Social Investment Forum

U.S. Public Interest Research Group

EVENT: RETHINKING RISK & REWARD: COMMUNITIES, CONSUMERS, & THE NEW FINANCIAL LANDSCAPE. The financial market crisis and the economic collapse that followed will lead to sweeping restructuring of the financial marketplace-through laws, regulations, and practices.

Who will be part of the policy debate? This special forum will look at the roles of communities and consumers in the new financial landscape. It will question assumptions about risks and rewards. It will focus on what works.

DETAILS: This special policy forum will take place from 8:30 a.m. to 3:30 p.m. at the Carnegie Institution for Science, 1530 P Street NW Washington, District of Columbia 20005. There is no cost to attend, but space is limited and you must register in advance at: www.opportunityfinance.net/dcforum.

PRESS OPPORTUNITIES: The conference is open to a limited number of journalists who register in advance. Please register at:
www.opportunityfinance.net/dcforum.

SPEAKERS: Speakers and presenters will include:

Binyamin Appelbaum, Staff Writer, Washington Post

Janie Barrera, ACCION Texas

Janis Bowdler, National Council of La Raza

Doug Bystry, Clearinghouse CDFI

Daniel Gross, Senior Editor, Newsweek

Ellen Harnick, Center for Responsible Lending

Elsie Meeks, Oweesta

Jeremy Nowak, The Reinvestment Fund

Mark Pinsky, Opportunity Finance Network

Ellen Seidman, The New America Foundation

Mark Willis, Visiting Scholar, The Ford Foundation

Alison Yonas, Latino Community Credit Union

Betsy Zeidman, The Milken Institute

CONTACT: Media contact is Lina Page at lpage@opportunityfinance.net or 215.320.4326. Event registration contact is Jaqueline Fox at jfox@opportunityfinance.net or 215.320.4313.

Over the past 30 years, the opportunity finance industry has provided more than $25 billion in financing. Every dollar of that financing has created benefits for low-income and low-wealth people and communities. Our nation's foreclosure crisis and weakening economy are affecting distressed communities and their residents first and most painfully. Community development financial institutions (CDFIs) are already at work in these struggling communities to provide affordable, responsible credit and to stabilize neighborhoods.

Novo Nordisk Launches Fifth Integrated Annual Report Accounting for Financial, Social and Environmental Performance

02.03.2009 - 12:00AM

HBS-ACCION Program for Strategic Leadership in Microfinance

06.15.2008 - 12:00AM

A unique opportunity to expand strategic thinking. A proven case-study approach. An energized environment in which to consider your role in finance at the base of the pyramid. The seven-day Harvard Business School-ACCION Program on Strategic Leadership in Microfinance offers finance leaders from around the world an exceptional opportunity to connect with peers while engaging with some of the HBS faculty's foremost thinkers in business strategy and management.

Building on two highly successful years, the 2008 course offers for the first time an expanded curriculum for all financial institutions – from microfinance specialists to conventional commercial banks – engaged in expanding finance to underserved clients around the world. In 2006 and 2007, HBS and ACCION brought together microfinance practitioners from 33 countries – including 36 CEOs from some of the field’s leading microfinance institutions.

“The high quality of the materials, of the teaching, the participation of the participants, everything contributed to create a very stimulating environment for learning.”

“Excellent opportunity to understand the global state of the industry and what is possible.”

“The experiences in the case, the wealth and competency of the lectures and contents of subject matter were not only relevant but very inclusive and gave me good tools to do a better job.”

Participants in the 2008 program can expect to leave the course with an enhanced perspective on their leadership roles as well as insights on commercial finance that will shape their strategies in a rapidly changing industry.

For questions about the program, please email: hbsaccion@accion.org