SlideShare ist ein Scribd-Unternehmen logo
1 von 3
Downloaden Sie, um offline zu lesen
SRIB
Bond market sparks ethical interests
                                                          riefings
                                                               Independent analysis of
                                                                 responsible investment issues                          MAY/JUN 2007 — Issue 10


                                                                                                                         !"#$%#$&'
Bob Cripps explores the opportunity for SRI in fixed income investments                                                  ()*%'+,' -."/'$0%'%12$".,'
                                                                                                                                   #%3'
   #$%&'(()! *+,-$.,&/(+! &.0+,12+.1! 3#456! 7',!                 I17&%'(!&.0+,12+.1!&.%$2+!-$*18$(&$,!9,9'(()!                    1%4%5"6/%#$&'2#'
8$%9,+:! $.! +;9&1)! &.0+,12+.1<! =7&,! 2')! /+!                7'0+! '! ,&@.&8&%'.1! '(($%'1&$.! 1$! /$.:,<! =7+*+!               %$027)5'
'11*&/91+:>! .$1! .+%+,,'*&()! 1$! 17+! /+11+*!                 '*+! '! .92/+*! $8! +17&%'(! /$.:! 89.:,<! 51! 7',!                2#4%&$/%#$8'
&.0+,12+.1! *+19*.,! /91! 1$! 17+! '/&(&1)! $8! +;9&1)!         '(B'),! /++.! -$,,&/(+! 1$! .+@'1&0+()! ,%*++.!                    2#&9.)#7%'
&.0+,1$*,! 1$! &.8(9+.%+! 17+! /+7'0&$9*! $8! '!                /$.:,! &.! '! ,&2&('*! B')! 1$! +;9&1&+,<! L$B+0+*>!     ()*%':,' (9$$2#*'
%$2-'.)?,! 2'.'@+2+.1<! 5.0+,12+.1! &.! 8&A+:!                  8$*! %(&+.1,! B7$! B'.1! 1$! &.0+,1! -$,&1&0+()! 17+!              6.2#7265%&'2#$"'
&.%$2+! ,+%9*&1&+,! &,! -+*%+&0+:! 1$! -*+,+.1!                 %7$&%+! &.! 17+! /$.:! 2'*F+1,! 9,+:! 1$! /+! 8'&*()!              6.)7$27%'
@*+'1+*! %7'((+.@+,! 1$! ,$%&'(()! *+,-$.,&/(+!                 (&2&1+:! 8*$2! '.! +17&%'(! -+*,-+%1&0+<! 4+%+.1()!
                                                                17$9@7! 17&,! 7',! %7'.@+:<! =7+*+! '*+! .$B! '!
                                                                                                                         ()*%';,' -2.&$'<5""1'="#1'
&.0+,1$*,! 17'.! +;9&1&+,<! 5.0+,1$*,! +A+*%&,+! .$!                                                                               02$&'/).>%$'
&.8(9+.%+! $0+*! 17+! /+7'0&$9*! $8! '! %$2-'.)?,!              ('*@+!.92/+*!$8!&,,9+,!B&17!-$,&1&0+!8&.'.%&'(!
2'.'@+2+.1>!+A%+-1!&.!17+!+0+.1!$8!:+8'9(1!$.!                  '.:! +17&%'(! ,1$*&+,>! '.:! 2'.)! $8! 17+,+! '*+!       ()*%'?,' @2&)=252$A'
-')2+.1,!$8!&.1+*+,1!$.!17+!/$.:,>!B7+.!17+)!                   8*$2! %$2-'.&+,>! B7&%7! '*+! .$1! (&,1+:! $.! 17+!                BC9)52$A'@9$A'D'
17+.!+A+*%&,+!:+%&,&$.,!$0+*!17+!%$2-'.)!'.:!                   ,1$%F! 2'*F+1<! =7+,+! &.%(9:+! B+((DF.$B.!                        5%*2&5)$2"#'32$0'
&1,!2'.'@+2+.1!/+8$*+!17+!+;9&1)!7$(:+*,<!                      .'2+,!B&17!@$$:!+17&%'(!*+-91'1&$.,!,9%7!',!                       $%%$0'
   C+0+*17+(+,,>! +17&%'(! &.0+,1$*,! 2')! B&,7! 1$!
                                                                M$D$-! N'.F>! *+1'&(+*! 17+! O$7.! P+B&,!                ()*%'E,' F)>2#*'$0%'
                                                                H'*1.+*,7&-! '.:! 7+'(17! ,+*0&%+,! -*$0&:+*!                      *.%%#'."9$%G'
'(($%'1+! $*! *+D'(($%'1+! 17+&*! ',,+1,! 1$! 8&A+:!            NQHR<!
&.%$2+!,+%9*&1&+,<!E$*!+A'2-(+>!'.!'.1&%&-'1+:!                                                                          ()*%'H, ' IJK'I/."'
:$B.19*.! &.! +;9&1&+,! 2'*F+1,>! :&0+*,&8&%'1&$.!                2) Government bonds                                              5)9#70%&'#%3'
'.:! :+D*&,F&.@! '! -$*18$(&$! /+%'9,+! $8!                       S$0+*.2+.1! /$.:,>! 17$9@7! 0+*)! ,+%9*+>!                       752/)$%'70)#*%'
&2-+.:&.@! *+1&*+2+.1! '*+! 0+*)! 8*+;9+.1!                     7&@7()! (&;9&:! '.:! +',&()! *+'(&,'/(+>! -$,+! '.!                $.)7>%.'2#1%L'
$%%9**+.%+,>! B7&%7! -*+,+.1! &.0+,12+.1! &.!                   &.%*+',&.@! %7'((+.@+! 8$*! +17&%'(! &.0+,1$*,<!         ()*%'M, ' !)#)12)#'NOP'
8&A+:!&.%$2+!&.0+,12+.1!',!'!%$.,&:+*'1&$.!8$*!                 K$,1! ('%F! 1*'.,-'*+.%)! &.! 17+! ,+.,+! $8!                      )&&%$&'&0"3'
+17&%'(!&.0+,1$*,<!                                             :+1'&(+:! :&,%($,9*+! '/$91! 17+&*! +A'%1! 89.:&.@!                *."3$0'
                                                                -9*-$,+,<! E$*! +A'2-(+>! ,$2+! +17&%'(!                 ()*%'QR,'S%3'P#&9.)#7%'
Screening                                                       &.0+,1$*,! B$9(:! '0$&:! &.0+,12+.1! &.! Q#! $*!                   5)9#70%&'*.%%#'
                                                                QT!S$0+*.2+.1!/$.:,!&.!17+!F.$B(+:@+!17'1!                         0"/%'6"527A '
  #%*++.&.@! 1+%7.&;9+,! '*+! ,&2&('*! 1$!
                                                                ,$2+! +(+2+.1! $8! 17+! 89.:,! *'&,+:! /)! 17+!
1+%7.&;9+,! 1$! ,%*++.! +;9&1&+,<! =7+)! %'.! /+!
                                                                &,,9+,!2')!8&.'.%+!17+!B'*!&.!5*';<!!
-$,&1&0+>! 17'1! &,! ,++F&.@! /$.:,! B&17! -$,&1&0+!
+17&%'(!'11*&/91+,!$*!.+@'1&0+>!17'1!&,!+A%(9:&.@!                3) Corporate bonds
17+! /$.:,! /+%'9,+! $8! 17+! 9.+17&%'(! .'19*+! $8!              M$*-$*'1+! /$.:! &,,9+,! '*+! '(,$! '0'&('/(+<! R.! &.%*+',&.@! .92/+*! +A&,1>!
17+&*! &.0+,12+.1<! 4'1&.@! '@+.%&+,>! ,9%7! ',!                B7&%7! B$9(:! ,'1&,8)! 2$,1! +17&%'(! %*&1+*&'<! 52-$*1'.1()! 17+,+! /$.:! &,,9+,!
#1'.:'*:! G! H$$*?,! '.:! E&1%7>! &.! 17+! %$9*,+! $8!          7'0+! %*+:&1! *'1&.@,>! '*+! %$2-+1&1&0+()! -*&%+:! '.:! '*+! *+',$.'/()! (&;9&:! ',!
-*$0&:&.@! 17+&*! %*+:&1! *'1&.@,! 8$*! /$.:! &,,9+,>!          B+((! ',! /+&.@! +17&%'(()! -$,&1&0+<! R! ,&@.&8&%'.1! .92/+*! $8! /$.:,! 7'0+! /++.!
.$*2'(()! @&0+! ,$2+! &.:&%'1&$.! $8! 17+! 89.:&.@!             &,,9+:! 1$! 8&.'.%+! -9/(&%! 1*'.,-$*1>! -'*1&%9('*()! *'&(B'),>! /)! +.1&1&+,! ,9%7! ',!
-9*-$,+!',!-'*1!$8!17+&*!%$22+.1'*)<!!                          C+1B$*F!4'&(!'.:!I9*$8&2'!U!17+!I9*$-+'.!'@+.%)!8$*!8&.'.%&.@!17&,!,+%1$*<!!
                                                                  =7+*+! '*+! '(,$! $--$*19.&1&+,! &.! 17+! 91&(&1&+,! ,+%1$*>! :+,-&1+! 17+&*! -'1%7)!
Investment opportunities                                        *+%$*:!&.!'*+',!,9%7!',!17+!+.0&*$.2+.1<!L$B+0+*>!'!.92/+*!$8!%$2-'.&+,!
available                                                       17'1!8$%9,!$.!+.0&*$.2+.1'(!-*$J+%1,!7'0+!(&,1+:>!-'*1&%9('*()!&.!B&.:!+.+*@)!
                                                                -*$J+%1,<! =7+,+! '*+! .$*2'(()! 0+*)! -$,&1&0+! 8$*! 2$,1! +17&%'(! &.0+,1$*,<!
  1) Construction of ethical income portfolios                  4+.+B'/(+! I.+*@)! S+.+*'1&$.! &,! '.! R(1+*.'1&0+! 5.0+,12+.1! K'*F+1! (&,1+:!
  I17&%'(!&.%$2+!-$*18$(&$,!'*+!%$.,1*9%1+:!B&17!               %$2-'.)! B&17! &.1+*+,1,! &.! B&.:! 8'*2,! &.! M$*.B'((! '.:! H$('.:>! '.:! '!
17+! $/J+%1&0+! $8! -*$:9%&.@! &.%$2+! *'17+*! 17'.!            -$*18$(&$! $8! ,2'((! :+0+($-2+.1! $--$*19.&1&+,! $.! 8'*2,<! =*&$:$,! 4+.+B'/(+!
%'-&1'(!'--*+%&'1&$.!',!17+&*!-*&.%&-(+!$/J+%1&0+<!             I.+*@)! E9.:! &,! '.! 9.(&,1+:! &.0+,12+.1! %$2-'.)! 8$%9,&.@! $.! %$229.&1)!
=7+)! %$2-*&,+! /$17! +;9&1)! '.:! 8&A+:! &.%$2+!               /',+:! B&.:! 8'*2,<! =7+,+! &.0+,12+.1,! ,7'*+! '! .92/+*! $8! %7'*'%1+*&,1&%,<!
,+%9*&1&+,<!K$,1!&.%$2+!&.0+,1$*,!B&((!,1&((!7'0+!              =7+!*+19*.!&,!+A-+%1+:!1$!-*&2'*&()!%$2+!8*$2!&.%$2+V!'(17$9@7!&1!&,!($B!1$!
,$2+! '(($%'1&$.! 1$! +;9&1&+,<! L$B+0+*>! 17&,!                ,1'*1!B&17>!-*$,-+%1&0+!)&+(:,!2')!*+'%7!"W!-+*%+.1!$*!2$*+!&.!'!8+B!)+'*,<!
',,+1! %(',,! 9,+:! 1$! /+! -*$/(+2'1&%! 8$*! +17&%'(!          =7+)! '*+! ,1*$.@()! ',,+1! /'%F+:! B&17! 17+! ',,+1,! :+-*+%&'1+:! $0+*! "W! 1$! XW!
&.0+,1$*,! ,++F&.@! &.%$2+<! L&,1$*&%'(()>! +17&%'(!            )+'*,>!'(17$9@7!17+*+!2')!/+!$--$*19.&1&+,!1$!*+8&.'.%+!$*!*+:+0+($-<!Y7&(+!
&.0+,1$*,! B$9(:! 7'0+! +A%(9:+:! 2'.)! 7&@7+*!                 .$1!B&17$91!*&,F,>!17+,+!%7'*'%1+*&,1&%,!2'F+!17+2!@+.+*'(()!($B+*!*&,F!17'.!
&.%$2+! +;9&1&+,<! #+%1$*,! ,9%7! ',! 1$/'%%$>!                 2$,1! $17+*! %(+'.! +.+*@)! &.0+,12+.1,>! B7&%7! '*+! $81+.! +'*()! ,1'@+! '.:! '!
.'19*'(!*+,$9*%+,!'.:!'+*$,-'%+!7'0+!1)-&%'(()!                 ($.@!B')!8*$2!-*$8&1'/&(&1)<!
8$*2+:! 17+! %$*+! $8! 2'.)! &.%$2+! -$*18$(&$,<!                 N$.:!&,,9+,!1$!8&.'.%+!,$%&'(!7$9,&.@!7'0+!'(,$!/+%$2+!;9&1+!%$22$.<!
C$B>! 17+*+! '*+! &.%*+',&.@! $--$*19.&1&+,! 8$*!               #$! 8$*! +A'2-(+! 17+! LNZ#! =*+',9*)! [<]^_! `W"W! &,! /'%F+:! /)! ($'.,! 1$!
+A'2-(+! 1$! &.0+,1! &.! +17&%'(()! '%%+-1'/(+! 7&@7!           ,$%&'(!7$9,&.@!$*@'.&,'1&$.,!'.:!&1!7',!/++.!,1*9%19*+:!1$!/+!RRR!*'1+:!U!
)&+(:&.@!+;9&1&+,!&.!&.:9,1*&+,!,9%7!',!/'.F&.@>!               17+!7&@7+,1!;9'(&1)<!
1+(+%$229.&%'1&$.,>! -9/(&%! 1*'.,-$*1! '.:!
91&(&1&+,<!                                                                                                                        (Continued on page 2)

SRI Briefings — Independent analysis of responsible investment issues                                      ISSUE 10, MAY/JUN 2007 , ISSN 1749-589X
                                                                                                                                                     !"!
In Brief …..
Business opportunities for asset finance
Climate change can bring business opportunities for the asset finance industry according to a new report by the UK
Social Investment Forum (UKSIF), Green opportunity: accelerating the financing of the low carbon assets.

  =7+! *+-$*1! +A-($*+,! 17+! %$22+*%&'(! %',+! 8$*! 8&.'.%&.@!                =7+!$--$*19.&1)!1$!%'-19*+!'!/&@@+*!,7'*+!$8!'!%$2-'.)?,!+.+*@)D
',,+1,>! B7&%7! %$.1*&/91+! (+,,! 1$! %'*/$.! %7'.@+>! 7&@7(&@71&.@!
                                                                         *+('1+:!,-+.:&.@!
17'1!',,+1!8&.'.%+!%$2-'.&+,!%'.!@*$B!/9,&.+,,!/)!',,&,1&.@!
%(&+.1,! 1$! ,7&81! 17+&*! ,-+.:&.@! 8*$2! +.+*@)! %$,1,! 1$! (+',&.@!        I,1'/(&,7&.@!8&*,1!2$0+*!':0'.1'@+<!
.+B!+;9&-2+.1<!
                                                                              4'&,&.@!'B'*+.+,,!B&17&.!17+!,9--()!%7'&.!'/$91!17+!*$(+!$8!(+',&.@!
  R(17$9@7!17+*+!7',!/++.!(&11(+!8$%9,!1$!:'1+!&.!',,+1!8&.'.%+!
$.!17+!$--$*19.&1&+,!$88+*+:!/)!8&.'.%&.@!($B+*!%'*/$.!',,+1,>!               N+.+8&1&.@!8*$2!&.%*+',&.@!@$0+*.2+.1!8$%9,!$.!17+!,7&81!1$!'!($B!
17+!*+-$*1!8$*+%',1,!17'1!17&,!,%+.'*&$!&,!,+1!1$!%7'.@+<!               %'*/$.!+%$.$2)<!
  N',+:! $.! &.1+*0&+B,! B&17! &.:9,1*)! +A-+*1,! 8*$2! (+':&.@!           M$22+.1&.@! $.! 17+! *+-$*1>! #'2! S+.++.>! %7'&*2'.! $8! 17+!
',,+1! 8&.'.%+! %$2-'.&+,>! 17+! *+-$*1! 7&@7(&@71,! 17'1! 2$,1!         E&.'.%+! G! P+',&.@! R,,$%&'1&$.! 3EPR6! ,'&:V! b=7+*+! &,! '!
+A-+%1! 17+&*! %$2-'.&+,! 1$! ,7$B! &.%*+',&.@! '%1&0&1)! &.! 17&,!      ,&@.&8&%'.1! $--$*19.&1)! 8$*! $9*! ',,+1! 8&.'.%+! 2+2/+*,! 1$!
'*+'<! =7+)! 8$*+%',1! 17'1! %(&+.1,! B$9(:! ($$F! 1$! *+:9%+! 17+&*!    ,9--$*1! 17+! 9,+! $8! ($B! %'*/$.! %'-&1'(! +;9&-2+.1>! /+.+8&1&.@!
+A-$,9*+! 1$! 8919*+! &.%*+',+,! &.! +.+*@)! %$,1,! '.:! %91! 17+&*!     %(&2'1+!%7'.@+!'.:!&.%*+',&.@!.+B!/9,&.+,,<c!
%'*/$.!+2&,,&$.,<!#9%7!'!2$0+!B&((!*+,9(1!&.!+0+*!&.%*+',&.@!
                                                                           =7+! EPR! &,! 17+! -*&.%&-'(! *+-*+,+.1'1&0+! $8! 17+! ',,+1>!
:+2'.:<!
                                                                         %$.,92+*!'.:!2$1$*!8&.'.%+!,+%1$*,!&.!17+!QT>!B&17!2+2/+*,!
  R! *'.@+! $8! :*&0+*,! 8$*! ',,+1! 8&.'.%+! %$2-'.&+,! '.:! 17+&*!     '%7&+0&.@!daX!/&((&$.!3e"X!/&((&$.6!$8!.+B!/9,&.+,,!&.!`WWf<!
,1'F+7$(:+*,!B+*+!&:+.1&8&+:<!=7+,+!&.%(9:+V!


Canadian SRI assets show growth
Canada’s SRI assets have rocketed to an estimated C$503.6 billion (US$436.3 billion) on the back of growing
institutional interest in socially responsible investment, according to a recent study by the country’s Social Investment
Organisation (SIO). This is an increase from C$65.5 billion in 2004.

 =7+! ,19:)! &,! /',+:! $.! '! ,9*0+)! $8! #45! ',,+1,! %$.:9%1+:!       .+B!'--*$'%7!&.!#45<!
+0+*)!1B$!)+'*,<!
                                                                           =7+! ,19:)! 8$9.:! 17'1! 17+! /&@! &.%*+',+! &.! #45! ',,+1,! B',!
 =7+!,19:)!8$9.:!17'1!Me^]<[!/&((&$.!&.!',,+1,!B+*+!&.0+,1+:!            2'&.()! :9+! 1$! 17+! *+%+.1! ':$-1&$.! $8! #45! -$(&%&+,! '.:!
'%%$*:&.@!1$!%$*+!#45!,1*'1+@&+,>!17$,+!&.%$*-$*'1&.@!0'(9+,D            -*'%1&%+,!/)!'!.92/+*!$8!('*@+!-9/(&%!-+.,&$.!89.:,<!
/',+:!:+%&,&$.,!'/$91!&.0+,12+.1!,+(+%1&$.!'.:!2'.'@+2+.1!
B&17!*&,F!'.:!*+19*.!%$.,&:+*'1&$.,<!                                      b5,,9+,! ,9%7! ',! %(&2'1+! %7'.@+>! 792'.! *&@71,! '.:!
                                                                         &.1+*.'1&$.'(! :+0+($-2+.1! '*+! @+.+*'1&.@! +.$*2$9,! -9/(&%!
   =7+! *+2'&.:+*>! Me[[]<`! /&((&$.! &.! ',,+1,! B',! &.0+,1+:!         '.:!8&.'.%&'(!&.:9,1*)!%$.%+*.<!5.0+,12+.1!2'.'@+*,!'*+!.$B!
'%%$*:&.@! 1$! /*$':! #45! ,1*'1+@&+,>! -*&2'*&()! /',+:! $.! '!         *+%$@.&,&.@!17&,>!'.:!':$-1&.@!,$%&'(()!*+,-$.,&/(+!&.0+,12+.1!
8&:9%&'*)! '.'(),&,! $8! 17+! *&,F! '.:! *+19*.! %7'*'%1+*&,1&%,! $8!    -$(&%+,! '.:! ,1*'1+@&+,! ',! '! *+,9(1>c! ,'&:! I9@+.+! I((2'.>!
+.0&*$.2+.1'(>! ,$%&'(! '.:! @$0+*.'.%+! &,,9+,! U! '! *+('1&0+()!       +A+%91&0+!:&*+%1$*!$8!17+!#5Z!&.!'!,1'1+2+.1<!



Hedging the weather
UBS Investment Bank has launched the first Global Warming Index (GWI), a tradable benchmark for global investments
in the weather derivatives market. Designed to reflect the current need of the investment community it provides a
simple transparent way to obtain exposure to the weather asset class.
  =7+! &.:+A! &,! %$.,1*9%1+:! 9,&.@! (&;9&:>! '%1&0+()! 1*':+:!         MKI! *$,+! 8*$2! ea<]! /&((&$.! &.! `WW[DW^! 1$! $0+*! e[^! /&((&$.! &.!
L+'1&.@! g+@*++! g')! '.:! M$$(&.@! g+@*++! g')! B+'17+*!                `WW^DWf>!'%%$*:&.@!1$!'!*+%+.1!*+-$*1!8*$2!HBM<!
8919*+,! %$.1*'%1,<! =7&,! 1)-+! $8! %$.1*'%1! ,+11(+,! $.! 17+!
:&88+*+.%+! /+1B++.! 17+! R0+*'@+! g'&()! =+2-+*'19*+! '.:! '!             QN#! &,! 7$-+89(! 17'1! 17+! &.:+A! B&((! 19*.! 17+! %$2-(+A&1&+,! $8!
@&0+.!N',+!=+2-+*'19*+>!'%%$*:&.@!1$!QN#<!                               &.0+,1&.@!&.!17+!B+'17+*!&.1$!'!-$-9('*!',,+1!%(',,<!bY+'17+*!
                                                                         :+*&0'1&0+,! 0$(92+,! 7'0+! &.%*+',+:! :*'2'1&%'(()! $0+*! 17+!
  =7+! SY5! B&((! &.&1&'(()! /+! /',+:! $.! "^! Q#! %&1&+,! &.%(9:&.@!   %$9*,+! $8! 17+! (',1! 8+B! )+'*,! )+1! 17+)! *+2'&.! '.! 9.1$9%7+:!
R1('.1'>! M7&%'@$>! P',! h+@',! '.:! C+B! i$*F>! ',! %9**+.1()!          ',,+1! %(',,! 8$*! 17+! 2'J$*&1)! $8! 17+! 8&.'.%&'(! %$229.&1)<! QN#?!
17+,+!'*+!17+!2$,1!'%1&0+()!1*':+:!$.!17+!M7&%'@$!K+*%'.1&(+!            .+B! S($/'(! Y'*2&.@! 5.:+A! B&((! %*+'1+! '! 2'&.,1*+'2! 2'*F+1!
IA%7'.@+! 3MKI6<! L$B+0+*! ',! 17+! 2'*F+1! %$.1&.9+,! 1$! @*$B!         &.!B+'17+*!&.0+,1&.@!8$*!17+!8&*,1!1&2+>!-*$0&:&.@!'!,&2-(+!B')!
$17+*!%&1&+,!'%*$,,!I9*$-+!'.:!R,&'!'*+!(&F+()!1$!J$&.!17+!&.:+A!        8$*! '! /*$':+*! *'.@+! $8! &.0+,1$*,! 1$! @'&.! +A-$,9*+! 1$! 17+!
&.!17+!2+:&92!1+*2>!'%%$*:&.@!1$!17+!/'.F<!                              B+'17+*!',,+1!%(',,!U!+.:!9,+*,!%'.!7+:@+!17+&*!+A-$,9*+!1$!
                                                                         B+'17+*! '.:! &1! '(($B,! /$17! &.,1&191&$.'(! '.:! -*&0'1+! &.0+,1$*,!
  =$!/+!+(&@&/(+!8$*!&.%(9,&$.!1$!17+!SY5>!17+!0$(92+!$8!8919*+,!        1$!:&0+*,&8)!17+&*!-$*18$(&$!B&17!'.!'(1+*.'1&0+!',,+1!%(',,!+&17+*!
1*':+:!8$*!'.)!@&0+.!%&1)!29,1!*+-*+,+.1!$.+!-+*%+.1!$*!2$*+!            :&*+%1()! B&17! 17+! &.:+A! $*! 17$9@7! 7)/*&:! ,1*9%19*+:! -*$:9%1,>!
$8!17+!1$1'(!B+'17+*!:+*&0'1&0+,!1*':+:!$.!17+!MKI<!                     ,'&:!5(&J'!K9*&,&%>!+A+%91&0+!:&*+%1$*>!7)/*&:!:+*&0'1&0+,!1*':&.@!
 =7+! B+'17+*! :+*&0'1&0+,! 2'*F+1! 7',! ,++.! ,1*$.@! @*$B17!           '1!QN#>!&.!'!,1'1+2+.1<!
B&17!17+!&2-'%1!$8!%(&2'1+!%7'.@+<!=7+!0$(92+!1*':+:!$.!17+!
SRI Briefings — Independent analysis of responsible investment issues                               ISSUE 10, MAY/JUN 2007 , ISSN 1749-589X
                                                                                                                                               !a!
In Brief …..
Kew Insurance launches green home policy
UK insurance brokers Kew Insurance have launched an innovative Simply Green home insurance policy, which
offers discounts ranging from five percent to 20 percent off the usual cost of home insurance. The policy will
reward home insurance customers who make the ‘Green Promise’ to take measures to cut carbon emissions
within their home.
   L$2+$B.+*,! B7$! 1'F+! 2&.$*! ,1+-,! 1$! &2-*$0+! 17+&*!                                      5.! '::&1&$.! 1$! 17+! ,'0&.@,! '0'&('/(+! 17*$9@7! 17+! #&2-()!
7$9,+7$(:?,! %'*/$.! 8$$1-*&.1>! ,9%7! ',! &.,1'((&.@! ($81!                                   S*++.! -$(&%)>! T+B! $88+*,! '! -*&%+! 2'1%7! /+.+8&1>! -*$2&,&.@!
&.,9('1&$.>! :$9/(+! @('p&.@>! :*'9@71! +A%(9:+*,! '.:! ($B!                                   1$! 2'1%7! '.)! %$2-+1&1$*?,! ;9$1+! -*$0&:+:! &1! &,! (&F+D8$*D(&F+!
+.+*@)!(&@71!/9(/,>!,B&1%7&.@!$88!+(+%1*&%'(!'--(&'.%+,!'1!17+!                                %$0+*<!
2'&.,! '.:! *+%)%(&.@! B',1+>! B&((! +'*.! 8&0+! -+*%+.1!
:&,%$9.1,<! =7+)! B&((! *+%+&0+! '! %7+%F(&,1! '.:! 29,1! ,'1&,8)!                               bY+! '*+! 0+*)! -(+',+:! 1$! /+! 17+! 8&*,1! 7$2+! &.,9*'.%+!
8&0+!$91!$8!17+!"W!q@*++.!%*&1+*&'?<!                                                          &.1+*2+:&'*)!1$!*+B'*:!$9*!%9,1$2+*,!B7$!2'F+!'!@+.9&.+!
                                                                                               S*++.! H*$2&,+! 1$! %91! %'*/$.! +2&,,&$.,! B&17&.! 17+! 7$2+>c!
  E$*! 17$,+! B7$! 2'F+! 2'J$*! %7'.@+,! B&17&.! 17+&*! 7$2+,!                                 %$22+.1+:! g'0&:! N$).+11+>! 2'.'@&.@! :&*+%1$*! $8! T+B!
,9%7! ',! 17+! &.,1'(('1&$.! $8! ,$('*! -'.+(,! $*! '! B&.:! 19*/&.+!                          5.,9*'.%+<!
17+*+!B&((!/+!'!`W!-+*%+.1!:&,%$9.1!'0'&('/(+<!
                                                                                                   5.,9*+*,!P+@'(!G!S+.+*'(!9.:+*B*&1+!17+!-$(&%&+,<!


Ethical investment amongst UK customers grows
Ethical investment is on the increase in the UK, according to recent research by Friends Provident. The life and
pensions provider has seen the number of new retail customers investing ethically more than double in the past
10 years.
  4+%+.1()! E*&+.:,! H*$0&:+.1! '..$9.%+:! 17'1! &1,! 2'.'@+:!                                 17+!*+@&$.,>!"X!-+*%+.1!$8!+17&%'(!&.0+,1$*,!'*+!8*$2!17+!K&:('.:,>!"W!
+17&%'(!89.:,!7':!-',,+:!17+!dX!/&((&$.!3e^!/&((&$.6!2'*F<!                                    -+*%+.1!8*$2!17+!#$917!$8!I.@('.:!'.:!+&@71!-+*%+.1!8*$2!+'%7!$8!
                                                                                               Y'(+,!'.:!17+!Y+,1>!P'.%',7&*+!'.:!i$*F,7&*+<!
  =7+! *+,+'*%7! /',+:! $.! 17+! -*$0&:+*?,! `W]>WWW! +17&%'(!
&.0+,12+.1! %9,1$2+*,! +A'2&.+:! 1*+.:,! &.! ,$%&'(()!                                           bH+$-(+! 8*$2! '((! B'(F,! $8! (&8+! '*+! 8&.:&.@! 17'1! ,$%&'(()!
*+,-$.,&/(+!&.0+,12+.1!'.:!*+0+'(+:!17'1V!                                                     *+,-$.,&/(+! &.0+,12+.1! &,! '! *+'(! $-1&$.! 8$*! '.)/$:)! B7$!
                                                                                               %'*+,!'/$91!B7'1!17+&*!2$.+)!&,!:$&.@>c!,'&:!O9(&'!g*+/($B>!
     =7+!'0+*'@+!'@+!$8!'.!&.0+,1$*!B7+.!17+)!8&*,1!&.0+,1!+17&%'(()!                          2'*F+1&.@! 2'.'@+*! 8$*! ,$%&'(()! *+,-$.,&/(+! &.0+,12+.1! '1!
7',!*&,+.!8*$2!X!&.!"aa]!1$!["!%9**+.1()<!                                                    E*&+.:,!H*$0&:+.1<!

     =7+*+!&,!'.!&.%*+',+!&.!17+!'@+!$8!+17&%'(!&.0+,1$*,>!,9@@+,1&.@!                           #9%7!@*$B17!&,!/$*.+!$91!/)!17+!5.0+,12+.1!K'.'@+2+.1!
$(:+*!-+$-(+!'*+!&.!19.+!B&17!,$%&'(()!*+,-$.,&/(+!&.0+,12+.1<!5.!"aaf>!                       R,,$%&'1&$.>! B7&%7! -9/(&,7+:! 8&@9*+,! ,7$B&.@! 17'1! +17&%'(!
"!-+*%+.1!B+*+!$0+*!^Wk!17+!%9**+.1!8&@9*+!&,!`X!-+*%+.1<!                                    89.:,! 9.:+*! 2'.'@+2+.1! &.! r"! `WW]! ,'B! '.! &.%*+',+! $8!
                                                                                               +&@71! -+*%+.1! $.! 17+! -*+0&$9,! ;9'*1+*! '.:! 9-! `"! -+*%+.1!
     I17&%'(!&.0+,12+.1!&,!.$1!@+.:+*!,-+%&8&%>![f!-+*%+.1!$8!&.0+,1$*,!                       8*$2!r"!(',1!)+'*>!-',,&.@!17+!d^!/&((&$.!2&(+,1$.+<!
/+&.@!8+2'(+!'.:!^`!-+*%+.1!2'(+<!
                                                                                                C+1!*+1'&(!,'(+,!$8!daa<!2&((&$.!B+*+!'(2$,1!:$9/(+!17$,+!
    R(17$9@7!'(2$,1!'!;9'*1+*!$8!+17&%'(!&.0+,1$*,!'*+!/',+:!&.!                               ,++.! &.! r[! `WWf! '.:! B+*+! 17*++! 1&2+,! 7&@7+*! 17'.! 17+!
P$.:$.!17+*+!&,!'(,$!'!@*$B&.@!%$22&12+.1!1$!+17&%'(!&.0+,12+.1!&.!                            ,'2+!;9'*1+*!&.!17+!-*+0&$9,!)+'*<!

                                                                                                   Editor:          #9,'.!g*9*)!l!!
  Seeking a wider audience for your                                                            !                    Tel: m[[!3W6"a`!^X[WXn^`^]W^!l!!
                                                                                               !                    Fax: m[[!3W6"a`!^`]^[W!l!!
  research, news and events?                                                                   !                    Email: ,:*9*)o,*&/<%$<9F!!

  SRI Briefings and The London Accord                                                              Publisher: L9*,1B$$:!5.8$*2'1&$.!#+*0&%+,>!!
                                                                                               !              g$B.!P$:@+>!!
  welcome quality research and events                                                          !              L9*,1B$$:!P'.+>!!
  listings from industry analysts,                                                             !              =9./*&:@+!Y+((,>!!
  professional bodies and institutions in                                                      !              T+.1>!!
                                                                                               !              =C[!iR>!!
  the sustainable investment field.                                                            !              Q<T<!!

  Contact the Editor, SRI                                        Briefings.                        Subscriptions: ^WW!8$*!f!&,,9+,!-+*!)+'*<!
                                                                                                   Email: ,9/,%*&/+o,*&/<%$<9F!!
  Email: sdrury@srib.co.uk
  www.srib.co.uk
  Or visit The London Accord                                                    at:
  www.london-accord.co.uk

SRI Briefings — Independent analysis of responsible investment issues                                                           ISSUE 10, MAY/JUN 2007 , ISSN 1749-589X
                                                                                                                                                                                  !"W!
j!L9*,1B$$:!5.8$*2'1&$.!#+*0&%+,!
Copyright: Y7&(+! B+! B'.1! )$9! 1$! 2'F+! 17+! /+,1! 9,+! $8! #45! N*&+8&.@,>! B+! '(,$! .++:! 1$! -*$1+%1! $9*! %$-)*&@71<! Y+! B$9(:! *+2&.:! )$9! 17'1! %$-)&.@! &,! &((+@'(<!
L$B+0+*!-(+',+!%$.1'%1!9,!:&*+%1()!,7$9(:!)$9!7'0+!'.)!,-+%&'(!*+;9&*+2+.1,<!
Y7&(+! '((! *+',$.'/(+! %'*+! 7',! /++.! 1'F+.! &.! 17+! -*+-'*'1&$.! $8! 17&,! -9/(&%'1&$.>! .$! (&'/&(&1)! &,! '%%+-1+:! /)! 17+! -9/(&,7+*,! .$*! /)! '.)! $8! 17+! '917$*,! $8! 17+!
%$.1+.1,!$8!17+!-9/(&%'1&$.>!8$*!'.)!($,,!$*!:'2'@+!%'9,+:!1$!'.)!-+*,$.!*+()&.@!$.!'.)!,1'1+2+.1!$*!$2&,,&$.!&.!17+!-9/(&%'1&$.<!R((!*&@71,!*+,+*0+:k!.$!-'*1!$8!
17&,!-9/(&%'1&$.!2')!/+!*+-*$:9%+:>!,1$*+:!&.!'!*+1*&+0'(!,),1+2!$*!1*'.,2&11+:!&.!'.)!8$*2!$*!/)!'.)!2+'.,>!+(+%1*&%'(>!2+%7'.&%'(>!-7$1$%$-)&.@>!*+%$*:&.@>!

Weitere ähnliche Inhalte

Was ist angesagt?

Présentation Quadrans
Présentation QuadransPrésentation Quadrans
Présentation Quadransybert
 
Jamie Yeung Undergrad Research
Jamie Yeung Undergrad ResearchJamie Yeung Undergrad Research
Jamie Yeung Undergrad ResearchJamie Yeung
 
Новые возможности информационных агентств и СМИ на примере iPhone, iPad и дру...
Новые возможности информационных агентств и СМИ на примере iPhone, iPad и дру...Новые возможности информационных агентств и СМИ на примере iPhone, iPad и дру...
Новые возможности информационных агентств и СМИ на примере iPhone, iPad и дру...Elena Kotina
 
Self Review and Personal Growth
Self Review and Personal GrowthSelf Review and Personal Growth
Self Review and Personal Growthelkako38
 
CompTIA - Cloud Study - Full Report
CompTIA - Cloud Study - Full ReportCompTIA - Cloud Study - Full Report
CompTIA - Cloud Study - Full ReportAssespro Nacional
 
Report of the Export Group on the methodology for the people below the povert...
Report of the Export Group on the methodology for the people below the povert...Report of the Export Group on the methodology for the people below the povert...
Report of the Export Group on the methodology for the people below the povert...People's Archive of Rural India
 
Instructivo manual de requisitos de inscripcion de informacion leagl, tecnica...
Instructivo manual de requisitos de inscripcion de informacion leagl, tecnica...Instructivo manual de requisitos de inscripcion de informacion leagl, tecnica...
Instructivo manual de requisitos de inscripcion de informacion leagl, tecnica...mamache
 
5 - The strategic stakes for the development of rural territories up to 2020
5 - The strategic stakes for the development of rural territories up to 20205 - The strategic stakes for the development of rural territories up to 2020
5 - The strategic stakes for the development of rural territories up to 2020grisiplus
 
FOA Benefits Of Membership Brochure
FOA Benefits Of Membership BrochureFOA Benefits Of Membership Brochure
FOA Benefits Of Membership BrochureAngelo Robles
 
Gate ee previous year papers 1992 2010
Gate ee previous year papers 1992   2010Gate ee previous year papers 1992   2010
Gate ee previous year papers 1992 2010Venugopala Rao P
 
is digital marketing recession proof?
is digital marketing recession proof?is digital marketing recession proof?
is digital marketing recession proof?Jenny Williams
 
Doa dan-dzikir-pilihan
Doa dan-dzikir-pilihanDoa dan-dzikir-pilihan
Doa dan-dzikir-pilihanRidas Zabbarae
 
RACC -Comparativa Bicis Publicas full_v120625_def
RACC -Comparativa Bicis Publicas full_v120625_defRACC -Comparativa Bicis Publicas full_v120625_def
RACC -Comparativa Bicis Publicas full_v120625_defStéphane M. Grueso
 
H177 Midterm Terashima
H177 Midterm TerashimaH177 Midterm Terashima
H177 Midterm TerashimaVictoria Vesna
 

Was ist angesagt? (18)

Présentation Quadrans
Présentation QuadransPrésentation Quadrans
Présentation Quadrans
 
Jamie Yeung Undergrad Research
Jamie Yeung Undergrad ResearchJamie Yeung Undergrad Research
Jamie Yeung Undergrad Research
 
Новые возможности информационных агентств и СМИ на примере iPhone, iPad и дру...
Новые возможности информационных агентств и СМИ на примере iPhone, iPad и дру...Новые возможности информационных агентств и СМИ на примере iPhone, iPad и дру...
Новые возможности информационных агентств и СМИ на примере iPhone, iPad и дру...
 
Self Review and Personal Growth
Self Review and Personal GrowthSelf Review and Personal Growth
Self Review and Personal Growth
 
English
EnglishEnglish
English
 
Publication3
Publication3Publication3
Publication3
 
MPI_PQ_2015_ISSUE5
MPI_PQ_2015_ISSUE5MPI_PQ_2015_ISSUE5
MPI_PQ_2015_ISSUE5
 
CompTIA - Cloud Study - Full Report
CompTIA - Cloud Study - Full ReportCompTIA - Cloud Study - Full Report
CompTIA - Cloud Study - Full Report
 
Report of the Export Group on the methodology for the people below the povert...
Report of the Export Group on the methodology for the people below the povert...Report of the Export Group on the methodology for the people below the povert...
Report of the Export Group on the methodology for the people below the povert...
 
Instructivo manual de requisitos de inscripcion de informacion leagl, tecnica...
Instructivo manual de requisitos de inscripcion de informacion leagl, tecnica...Instructivo manual de requisitos de inscripcion de informacion leagl, tecnica...
Instructivo manual de requisitos de inscripcion de informacion leagl, tecnica...
 
5 - The strategic stakes for the development of rural territories up to 2020
5 - The strategic stakes for the development of rural territories up to 20205 - The strategic stakes for the development of rural territories up to 2020
5 - The strategic stakes for the development of rural territories up to 2020
 
FOA Benefits Of Membership Brochure
FOA Benefits Of Membership BrochureFOA Benefits Of Membership Brochure
FOA Benefits Of Membership Brochure
 
Gate ee previous year papers 1992 2010
Gate ee previous year papers 1992   2010Gate ee previous year papers 1992   2010
Gate ee previous year papers 1992 2010
 
is digital marketing recession proof?
is digital marketing recession proof?is digital marketing recession proof?
is digital marketing recession proof?
 
Doa dan-dzikir-pilihan
Doa dan-dzikir-pilihanDoa dan-dzikir-pilihan
Doa dan-dzikir-pilihan
 
RACC -Comparativa Bicis Publicas full_v120625_def
RACC -Comparativa Bicis Publicas full_v120625_defRACC -Comparativa Bicis Publicas full_v120625_def
RACC -Comparativa Bicis Publicas full_v120625_def
 
Xarxes socials
Xarxes socialsXarxes socials
Xarxes socials
 
H177 Midterm Terashima
H177 Midterm TerashimaH177 Midterm Terashima
H177 Midterm Terashima
 

Andere mochten auch

Guide to Corporate Governance for Subvented Organisations - Executive Summary
Guide to Corporate Governance for Subvented Organisations - Executive SummaryGuide to Corporate Governance for Subvented Organisations - Executive Summary
Guide to Corporate Governance for Subvented Organisations - Executive Summaryeuweben01
 
Деловая презентация
Деловая презентацияДеловая презентация
Деловая презентацияVadim Zhartun
 
Новые продукты McAfee/Intel
Новые продукты McAfee/IntelНовые продукты McAfee/Intel
Новые продукты McAfee/IntelAndrei Novikau
 
Answering an exam question
Answering an exam questionAnswering an exam question
Answering an exam questiont0nywilliams
 
Next Generation Media Quarterly October 2011
Next Generation Media Quarterly October 2011Next Generation Media Quarterly October 2011
Next Generation Media Quarterly October 2011dentsu
 
Are You Worried?
Are You Worried?Are You Worried?
Are You Worried?Faraz Mirza
 
07 04-10 morning meeting sunday
07 04-10 morning meeting sunday07 04-10 morning meeting sunday
07 04-10 morning meeting sundayHyde School
 
Communications Trends For 2015 - Creative Approaches to Content Promotion
Communications Trends For 2015 - Creative Approaches to Content PromotionCommunications Trends For 2015 - Creative Approaches to Content Promotion
Communications Trends For 2015 - Creative Approaches to Content Promotionprnewswire
 
Леонид Данилов - Меры государственной поддержски промышленных кластров
Леонид Данилов - Меры государственной поддержски промышленных кластровЛеонид Данилов - Меры государственной поддержски промышленных кластров
Леонид Данилов - Меры государственной поддержски промышленных кластровIngria. Technopark St. Petersburg
 
Игорь Рождественский - ИППТ – один из мировых лидеров
Игорь Рождественский - ИППТ – один из мировых лидеровИгорь Рождественский - ИППТ – один из мировых лидеров
Игорь Рождественский - ИППТ – один из мировых лидеровIngria. Technopark St. Petersburg
 
Михеев Юрий - Применение современных инструментов интегрированного менеджмент...
Михеев Юрий - Применение современных инструментов интегрированного менеджмент...Михеев Юрий - Применение современных инструментов интегрированного менеджмент...
Михеев Юрий - Применение современных инструментов интегрированного менеджмент...Ingria. Technopark St. Petersburg
 
Механизмы государственной поддержки экспортно-ориентированных субъектов малог...
Механизмы государственной поддержки экспортно-ориентированных субъектов малог...Механизмы государственной поддержки экспортно-ориентированных субъектов малог...
Механизмы государственной поддержки экспортно-ориентированных субъектов малог...Ingria. Technopark St. Petersburg
 
Как построить сверхмобильную компанию?
Как построить сверхмобильную компанию?Как построить сверхмобильную компанию?
Как построить сверхмобильную компанию?Ingria. Technopark St. Petersburg
 
The Power of Story: Why you are losing clients and the best staff
The Power of Story: Why you are losing clients and the best staffThe Power of Story: Why you are losing clients and the best staff
The Power of Story: Why you are losing clients and the best staffRipMedia Group,
 
5 Tips for Executing a Great Newsjack
5 Tips for Executing a Great Newsjack5 Tips for Executing a Great Newsjack
5 Tips for Executing a Great Newsjackprnewswire
 
Metodo cascada
Metodo cascadaMetodo cascada
Metodo cascadaoskrdaviss
 
Kennismaken met Systemisch Werk
Kennismaken met Systemisch WerkKennismaken met Systemisch Werk
Kennismaken met Systemisch WerkCoen de Cock
 

Andere mochten auch (20)

Guide to Corporate Governance for Subvented Organisations - Executive Summary
Guide to Corporate Governance for Subvented Organisations - Executive SummaryGuide to Corporate Governance for Subvented Organisations - Executive Summary
Guide to Corporate Governance for Subvented Organisations - Executive Summary
 
Деловая презентация
Деловая презентацияДеловая презентация
Деловая презентация
 
Новые продукты McAfee/Intel
Новые продукты McAfee/IntelНовые продукты McAfee/Intel
Новые продукты McAfee/Intel
 
Answering an exam question
Answering an exam questionAnswering an exam question
Answering an exam question
 
Next Generation Media Quarterly October 2011
Next Generation Media Quarterly October 2011Next Generation Media Quarterly October 2011
Next Generation Media Quarterly October 2011
 
Pakistani cow
Pakistani cowPakistani cow
Pakistani cow
 
Are You Worried?
Are You Worried?Are You Worried?
Are You Worried?
 
Noble canine
Noble canineNoble canine
Noble canine
 
07 04-10 morning meeting sunday
07 04-10 morning meeting sunday07 04-10 morning meeting sunday
07 04-10 morning meeting sunday
 
Communications Trends For 2015 - Creative Approaches to Content Promotion
Communications Trends For 2015 - Creative Approaches to Content PromotionCommunications Trends For 2015 - Creative Approaches to Content Promotion
Communications Trends For 2015 - Creative Approaches to Content Promotion
 
Леонид Данилов - Меры государственной поддержски промышленных кластров
Леонид Данилов - Меры государственной поддержски промышленных кластровЛеонид Данилов - Меры государственной поддержски промышленных кластров
Леонид Данилов - Меры государственной поддержски промышленных кластров
 
Игорь Рождественский - ИППТ – один из мировых лидеров
Игорь Рождественский - ИППТ – один из мировых лидеровИгорь Рождественский - ИППТ – один из мировых лидеров
Игорь Рождественский - ИППТ – один из мировых лидеров
 
Михеев Юрий - Применение современных инструментов интегрированного менеджмент...
Михеев Юрий - Применение современных инструментов интегрированного менеджмент...Михеев Юрий - Применение современных инструментов интегрированного менеджмент...
Михеев Юрий - Применение современных инструментов интегрированного менеджмент...
 
Механизмы государственной поддержки экспортно-ориентированных субъектов малог...
Механизмы государственной поддержки экспортно-ориентированных субъектов малог...Механизмы государственной поддержки экспортно-ориентированных субъектов малог...
Механизмы государственной поддержки экспортно-ориентированных субъектов малог...
 
Как построить сверхмобильную компанию?
Как построить сверхмобильную компанию?Как построить сверхмобильную компанию?
Как построить сверхмобильную компанию?
 
The Power of Story: Why you are losing clients and the best staff
The Power of Story: Why you are losing clients and the best staffThe Power of Story: Why you are losing clients and the best staff
The Power of Story: Why you are losing clients and the best staff
 
5 Tips for Executing a Great Newsjack
5 Tips for Executing a Great Newsjack5 Tips for Executing a Great Newsjack
5 Tips for Executing a Great Newsjack
 
Vestnik april 2014
Vestnik april 2014Vestnik april 2014
Vestnik april 2014
 
Metodo cascada
Metodo cascadaMetodo cascada
Metodo cascada
 
Kennismaken met Systemisch Werk
Kennismaken met Systemisch WerkKennismaken met Systemisch Werk
Kennismaken met Systemisch Werk
 

Ähnlich wie SRI Briefings - Jun 2007 - UBS Global Warming Index - Weather Derivatives - ilija Murisic

Spring 2010 closed memo assignment jellyvision v. aflac complaint pdf
Spring 2010 closed memo assignment jellyvision v. aflac complaint pdfSpring 2010 closed memo assignment jellyvision v. aflac complaint pdf
Spring 2010 closed memo assignment jellyvision v. aflac complaint pdfLyn Goering
 
Spring 2010 closed memo assignment jellyvision v. aflac complaint pdf
Spring 2010 closed memo assignment jellyvision v. aflac complaint pdfSpring 2010 closed memo assignment jellyvision v. aflac complaint pdf
Spring 2010 closed memo assignment jellyvision v. aflac complaint pdfLyn Goering
 
One planet action plan sustainability toolkit
One planet action plan sustainability toolkitOne planet action plan sustainability toolkit
One planet action plan sustainability toolkitActionGood
 
Питер Бел - “PR и маркетинг для стартапов и ICO. Что продают на рынке и надо ...
Питер Бел - “PR и маркетинг для стартапов и ICO. Что продают на рынке и надо ...Питер Бел - “PR и маркетинг для стартапов и ICO. Что продают на рынке и надо ...
Питер Бел - “PR и маркетинг для стартапов и ICO. Что продают на рынке и надо ...Timetogrowup
 
Iak13 arno bublitz enterprise ux
Iak13 arno bublitz enterprise uxIak13 arno bublitz enterprise ux
Iak13 arno bublitz enterprise uxabublitz
 
MAP TERM PAPER - MOTOROLA 68040
MAP TERM PAPER - MOTOROLA 68040MAP TERM PAPER - MOTOROLA 68040
MAP TERM PAPER - MOTOROLA 68040Poojan Jhaveri
 
PCon 2016: Advanced Attribution & Predictive Customer Interaction (Dr. Alwin ...
PCon 2016: Advanced Attribution & Predictive Customer Interaction (Dr. Alwin ...PCon 2016: Advanced Attribution & Predictive Customer Interaction (Dr. Alwin ...
PCon 2016: Advanced Attribution & Predictive Customer Interaction (Dr. Alwin ...e-dialog GmbH
 
Sample SEO Best Practice Guide
Sample SEO Best Practice GuideSample SEO Best Practice Guide
Sample SEO Best Practice GuideNoa Marcos
 
الجزء الثالث أسئلة تنفيذية مهندس محمد زكى إسماعيل
الجزء الثالث أسئلة تنفيذية مهندس محمد زكى إسماعيلالجزء الثالث أسئلة تنفيذية مهندس محمد زكى إسماعيل
الجزء الثالث أسئلة تنفيذية مهندس محمد زكى إسماعيلMohamed Saeed
 
Optimisation tnc1
Optimisation tnc1Optimisation tnc1
Optimisation tnc1bdsea89
 
Winter Cx Press Release
Winter Cx Press ReleaseWinter Cx Press Release
Winter Cx Press ReleaseGreg Keller
 
Affordable housing pakistan
Affordable housing pakistanAffordable housing pakistan
Affordable housing pakistanjmcvitty
 
Consultoría y Formación Turismo y Hotelería
Consultoría y Formación Turismo y Hotelería Consultoría y Formación Turismo y Hotelería
Consultoría y Formación Turismo y Hotelería Formastur
 
Formagrupo - Consultoría y Formación Turística y Hotelera
Formagrupo - Consultoría y Formación Turística y HoteleraFormagrupo - Consultoría y Formación Turística y Hotelera
Formagrupo - Consultoría y Formación Turística y HoteleraJorge Vallina Crespo
 
Portefólio Joana Dinis Ferreira
Portefólio Joana Dinis FerreiraPortefólio Joana Dinis Ferreira
Portefólio Joana Dinis Ferreirajanedinis
 
Patek Philippe
Patek PhilippePatek Philippe
Patek PhilippeMike W
 
Bren Poster Presentation Workshop
Bren Poster Presentation WorkshopBren Poster Presentation Workshop
Bren Poster Presentation WorkshopMonica Bulger
 

Ähnlich wie SRI Briefings - Jun 2007 - UBS Global Warming Index - Weather Derivatives - ilija Murisic (20)

Spring 2010 closed memo assignment jellyvision v. aflac complaint pdf
Spring 2010 closed memo assignment jellyvision v. aflac complaint pdfSpring 2010 closed memo assignment jellyvision v. aflac complaint pdf
Spring 2010 closed memo assignment jellyvision v. aflac complaint pdf
 
Spring 2010 closed memo assignment jellyvision v. aflac complaint pdf
Spring 2010 closed memo assignment jellyvision v. aflac complaint pdfSpring 2010 closed memo assignment jellyvision v. aflac complaint pdf
Spring 2010 closed memo assignment jellyvision v. aflac complaint pdf
 
One planet action plan sustainability toolkit
One planet action plan sustainability toolkitOne planet action plan sustainability toolkit
One planet action plan sustainability toolkit
 
Питер Бел - “PR и маркетинг для стартапов и ICO. Что продают на рынке и надо ...
Питер Бел - “PR и маркетинг для стартапов и ICO. Что продают на рынке и надо ...Питер Бел - “PR и маркетинг для стартапов и ICO. Что продают на рынке и надо ...
Питер Бел - “PR и маркетинг для стартапов и ICO. Что продают на рынке и надо ...
 
Iak13 arno bublitz enterprise ux
Iak13 arno bublitz enterprise uxIak13 arno bublitz enterprise ux
Iak13 arno bublitz enterprise ux
 
MAP TERM PAPER - MOTOROLA 68040
MAP TERM PAPER - MOTOROLA 68040MAP TERM PAPER - MOTOROLA 68040
MAP TERM PAPER - MOTOROLA 68040
 
PCon 2016: Advanced Attribution & Predictive Customer Interaction (Dr. Alwin ...
PCon 2016: Advanced Attribution & Predictive Customer Interaction (Dr. Alwin ...PCon 2016: Advanced Attribution & Predictive Customer Interaction (Dr. Alwin ...
PCon 2016: Advanced Attribution & Predictive Customer Interaction (Dr. Alwin ...
 
Sample SEO Best Practice Guide
Sample SEO Best Practice GuideSample SEO Best Practice Guide
Sample SEO Best Practice Guide
 
Death By Ppt
Death By PptDeath By Ppt
Death By Ppt
 
الجزء الثالث أسئلة تنفيذية مهندس محمد زكى إسماعيل
الجزء الثالث أسئلة تنفيذية مهندس محمد زكى إسماعيلالجزء الثالث أسئلة تنفيذية مهندس محمد زكى إسماعيل
الجزء الثالث أسئلة تنفيذية مهندس محمد زكى إسماعيل
 
Optimisation tnc1
Optimisation tnc1Optimisation tnc1
Optimisation tnc1
 
Ecosoc
EcosocEcosoc
Ecosoc
 
Winter Cx Press Release
Winter Cx Press ReleaseWinter Cx Press Release
Winter Cx Press Release
 
Affordable housing pakistan
Affordable housing pakistanAffordable housing pakistan
Affordable housing pakistan
 
Consultoría y Formación Turismo y Hotelería
Consultoría y Formación Turismo y Hotelería Consultoría y Formación Turismo y Hotelería
Consultoría y Formación Turismo y Hotelería
 
Formagrupo - Consultoría y Formación Turística y Hotelera
Formagrupo - Consultoría y Formación Turística y HoteleraFormagrupo - Consultoría y Formación Turística y Hotelera
Formagrupo - Consultoría y Formación Turística y Hotelera
 
Machine Shop Flyer
Machine Shop FlyerMachine Shop Flyer
Machine Shop Flyer
 
Portefólio Joana Dinis Ferreira
Portefólio Joana Dinis FerreiraPortefólio Joana Dinis Ferreira
Portefólio Joana Dinis Ferreira
 
Patek Philippe
Patek PhilippePatek Philippe
Patek Philippe
 
Bren Poster Presentation Workshop
Bren Poster Presentation WorkshopBren Poster Presentation Workshop
Bren Poster Presentation Workshop
 

Mehr von akasaka aoyama

Panorama - Jul 08 - UBS Greenhouse Index - ilija murisic
Panorama - Jul 08 - UBS Greenhouse Index - ilija murisicPanorama - Jul 08 - UBS Greenhouse Index - ilija murisic
Panorama - Jul 08 - UBS Greenhouse Index - ilija murisicakasaka aoyama
 
Risk Magazine - Apr 08 - UBS Greenhouse Index - ilija murisic
Risk Magazine - Apr 08 - UBS Greenhouse Index - ilija murisic Risk Magazine - Apr 08 - UBS Greenhouse Index - ilija murisic
Risk Magazine - Apr 08 - UBS Greenhouse Index - ilija murisic akasaka aoyama
 
Salon - October 2008 - UBS Greenhouse Index - ilija murisic
Salon - October 2008 - UBS Greenhouse Index - ilija murisicSalon - October 2008 - UBS Greenhouse Index - ilija murisic
Salon - October 2008 - UBS Greenhouse Index - ilija murisicakasaka aoyama
 
Finanza Mercati - April 2008 - UBS Greenhouse Index - ilija murisic
Finanza Mercati - April 2008 - UBS Greenhouse Index - ilija murisic Finanza Mercati - April 2008 - UBS Greenhouse Index - ilija murisic
Finanza Mercati - April 2008 - UBS Greenhouse Index - ilija murisic akasaka aoyama
 
Finanz und Wirtschaft- January 2008 - UBS Greenhouse Index - ilija murisic
Finanz und Wirtschaft- January 2008 - UBS Greenhouse Index - ilija murisicFinanz und Wirtschaft- January 2008 - UBS Greenhouse Index - ilija murisic
Finanz und Wirtschaft- January 2008 - UBS Greenhouse Index - ilija murisicakasaka aoyama
 
Investment News - April 2007 - UBS Global Warming Index index - ilija murisic
Investment News - April 2007 - UBS Global Warming Index index - ilija murisicInvestment News - April 2007 - UBS Global Warming Index index - ilija murisic
Investment News - April 2007 - UBS Global Warming Index index - ilija murisicakasaka aoyama
 
News For Banks - Sep 2008 - UBS Blue Sea Index - Freight Derivatives - ilija ...
News For Banks - Sep 2008 - UBS Blue Sea Index - Freight Derivatives - ilija ...News For Banks - Sep 2008 - UBS Blue Sea Index - Freight Derivatives - ilija ...
News For Banks - Sep 2008 - UBS Blue Sea Index - Freight Derivatives - ilija ...akasaka aoyama
 
The Delta Review - Feb 2008 - UBS Greenhouse Index - EUA CER Carbon Emission ...
The Delta Review - Feb 2008 - UBS Greenhouse Index - EUA CER Carbon Emission ...The Delta Review - Feb 2008 - UBS Greenhouse Index - EUA CER Carbon Emission ...
The Delta Review - Feb 2008 - UBS Greenhouse Index - EUA CER Carbon Emission ...akasaka aoyama
 
L'Expansion - May 07 - UBS Global Warming Index - Weather Derivatives - ilija...
L'Expansion - May 07 - UBS Global Warming Index - Weather Derivatives - ilija...L'Expansion - May 07 - UBS Global Warming Index - Weather Derivatives - ilija...
L'Expansion - May 07 - UBS Global Warming Index - Weather Derivatives - ilija...akasaka aoyama
 
Oxford University - Jan 2010 - UBS Global Warming Index - Weather Derivatives...
Oxford University - Jan 2010 - UBS Global Warming Index - Weather Derivatives...Oxford University - Jan 2010 - UBS Global Warming Index - Weather Derivatives...
Oxford University - Jan 2010 - UBS Global Warming Index - Weather Derivatives...akasaka aoyama
 
UNEP Finance Initiative (UNEP-FI) - Jan 09 - UBS Global Warming Greenhouse I...
UNEP Finance Initiative (UNEP-FI)  - Jan 09 - UBS Global Warming Greenhouse I...UNEP Finance Initiative (UNEP-FI)  - Jan 09 - UBS Global Warming Greenhouse I...
UNEP Finance Initiative (UNEP-FI) - Jan 09 - UBS Global Warming Greenhouse I...akasaka aoyama
 
Money Management Letter - Jan 08 - UBS Greenhouse Index - Carbon Emission EUA...
Money Management Letter - Jan 08 - UBS Greenhouse Index - Carbon Emission EUA...Money Management Letter - Jan 08 - UBS Greenhouse Index - Carbon Emission EUA...
Money Management Letter - Jan 08 - UBS Greenhouse Index - Carbon Emission EUA...akasaka aoyama
 
United Nation Environment Programme - Jan 08 - UBS Global Warming Index - Wea...
United Nation Environment Programme - Jan 08 - UBS Global Warming Index - Wea...United Nation Environment Programme - Jan 08 - UBS Global Warming Index - Wea...
United Nation Environment Programme - Jan 08 - UBS Global Warming Index - Wea...akasaka aoyama
 
Index Universe - May 07 - Global Warming Heats Up - UBS Global Warming Index ...
Index Universe - May 07 - Global Warming Heats Up - UBS Global Warming Index ...Index Universe - May 07 - Global Warming Heats Up - UBS Global Warming Index ...
Index Universe - May 07 - Global Warming Heats Up - UBS Global Warming Index ...akasaka aoyama
 
Alternative Asset Markets - Ilija Murisic - UBS Global Warming Index, UBS Gre...
Alternative Asset Markets - Ilija Murisic - UBS Global Warming Index, UBS Gre...Alternative Asset Markets - Ilija Murisic - UBS Global Warming Index, UBS Gre...
Alternative Asset Markets - Ilija Murisic - UBS Global Warming Index, UBS Gre...akasaka aoyama
 
Børsen Apr 07 - UBS Global Warming Index - Weather Derivatives - Ilija Murisic
Børsen Apr 07 - UBS Global Warming Index - Weather Derivatives - Ilija MurisicBørsen Apr 07 - UBS Global Warming Index - Weather Derivatives - Ilija Murisic
Børsen Apr 07 - UBS Global Warming Index - Weather Derivatives - Ilija Murisicakasaka aoyama
 

Mehr von akasaka aoyama (16)

Panorama - Jul 08 - UBS Greenhouse Index - ilija murisic
Panorama - Jul 08 - UBS Greenhouse Index - ilija murisicPanorama - Jul 08 - UBS Greenhouse Index - ilija murisic
Panorama - Jul 08 - UBS Greenhouse Index - ilija murisic
 
Risk Magazine - Apr 08 - UBS Greenhouse Index - ilija murisic
Risk Magazine - Apr 08 - UBS Greenhouse Index - ilija murisic Risk Magazine - Apr 08 - UBS Greenhouse Index - ilija murisic
Risk Magazine - Apr 08 - UBS Greenhouse Index - ilija murisic
 
Salon - October 2008 - UBS Greenhouse Index - ilija murisic
Salon - October 2008 - UBS Greenhouse Index - ilija murisicSalon - October 2008 - UBS Greenhouse Index - ilija murisic
Salon - October 2008 - UBS Greenhouse Index - ilija murisic
 
Finanza Mercati - April 2008 - UBS Greenhouse Index - ilija murisic
Finanza Mercati - April 2008 - UBS Greenhouse Index - ilija murisic Finanza Mercati - April 2008 - UBS Greenhouse Index - ilija murisic
Finanza Mercati - April 2008 - UBS Greenhouse Index - ilija murisic
 
Finanz und Wirtschaft- January 2008 - UBS Greenhouse Index - ilija murisic
Finanz und Wirtschaft- January 2008 - UBS Greenhouse Index - ilija murisicFinanz und Wirtschaft- January 2008 - UBS Greenhouse Index - ilija murisic
Finanz und Wirtschaft- January 2008 - UBS Greenhouse Index - ilija murisic
 
Investment News - April 2007 - UBS Global Warming Index index - ilija murisic
Investment News - April 2007 - UBS Global Warming Index index - ilija murisicInvestment News - April 2007 - UBS Global Warming Index index - ilija murisic
Investment News - April 2007 - UBS Global Warming Index index - ilija murisic
 
News For Banks - Sep 2008 - UBS Blue Sea Index - Freight Derivatives - ilija ...
News For Banks - Sep 2008 - UBS Blue Sea Index - Freight Derivatives - ilija ...News For Banks - Sep 2008 - UBS Blue Sea Index - Freight Derivatives - ilija ...
News For Banks - Sep 2008 - UBS Blue Sea Index - Freight Derivatives - ilija ...
 
The Delta Review - Feb 2008 - UBS Greenhouse Index - EUA CER Carbon Emission ...
The Delta Review - Feb 2008 - UBS Greenhouse Index - EUA CER Carbon Emission ...The Delta Review - Feb 2008 - UBS Greenhouse Index - EUA CER Carbon Emission ...
The Delta Review - Feb 2008 - UBS Greenhouse Index - EUA CER Carbon Emission ...
 
L'Expansion - May 07 - UBS Global Warming Index - Weather Derivatives - ilija...
L'Expansion - May 07 - UBS Global Warming Index - Weather Derivatives - ilija...L'Expansion - May 07 - UBS Global Warming Index - Weather Derivatives - ilija...
L'Expansion - May 07 - UBS Global Warming Index - Weather Derivatives - ilija...
 
Oxford University - Jan 2010 - UBS Global Warming Index - Weather Derivatives...
Oxford University - Jan 2010 - UBS Global Warming Index - Weather Derivatives...Oxford University - Jan 2010 - UBS Global Warming Index - Weather Derivatives...
Oxford University - Jan 2010 - UBS Global Warming Index - Weather Derivatives...
 
UNEP Finance Initiative (UNEP-FI) - Jan 09 - UBS Global Warming Greenhouse I...
UNEP Finance Initiative (UNEP-FI)  - Jan 09 - UBS Global Warming Greenhouse I...UNEP Finance Initiative (UNEP-FI)  - Jan 09 - UBS Global Warming Greenhouse I...
UNEP Finance Initiative (UNEP-FI) - Jan 09 - UBS Global Warming Greenhouse I...
 
Money Management Letter - Jan 08 - UBS Greenhouse Index - Carbon Emission EUA...
Money Management Letter - Jan 08 - UBS Greenhouse Index - Carbon Emission EUA...Money Management Letter - Jan 08 - UBS Greenhouse Index - Carbon Emission EUA...
Money Management Letter - Jan 08 - UBS Greenhouse Index - Carbon Emission EUA...
 
United Nation Environment Programme - Jan 08 - UBS Global Warming Index - Wea...
United Nation Environment Programme - Jan 08 - UBS Global Warming Index - Wea...United Nation Environment Programme - Jan 08 - UBS Global Warming Index - Wea...
United Nation Environment Programme - Jan 08 - UBS Global Warming Index - Wea...
 
Index Universe - May 07 - Global Warming Heats Up - UBS Global Warming Index ...
Index Universe - May 07 - Global Warming Heats Up - UBS Global Warming Index ...Index Universe - May 07 - Global Warming Heats Up - UBS Global Warming Index ...
Index Universe - May 07 - Global Warming Heats Up - UBS Global Warming Index ...
 
Alternative Asset Markets - Ilija Murisic - UBS Global Warming Index, UBS Gre...
Alternative Asset Markets - Ilija Murisic - UBS Global Warming Index, UBS Gre...Alternative Asset Markets - Ilija Murisic - UBS Global Warming Index, UBS Gre...
Alternative Asset Markets - Ilija Murisic - UBS Global Warming Index, UBS Gre...
 
Børsen Apr 07 - UBS Global Warming Index - Weather Derivatives - Ilija Murisic
Børsen Apr 07 - UBS Global Warming Index - Weather Derivatives - Ilija MurisicBørsen Apr 07 - UBS Global Warming Index - Weather Derivatives - Ilija Murisic
Børsen Apr 07 - UBS Global Warming Index - Weather Derivatives - Ilija Murisic
 

Kürzlich hochgeladen

VIP Call Girl in Mira Road 💧 9920725232 ( Call Me ) Get A New Crush Everyday ...
VIP Call Girl in Mira Road 💧 9920725232 ( Call Me ) Get A New Crush Everyday ...VIP Call Girl in Mira Road 💧 9920725232 ( Call Me ) Get A New Crush Everyday ...
VIP Call Girl in Mira Road 💧 9920725232 ( Call Me ) Get A New Crush Everyday ...dipikadinghjn ( Why You Choose Us? ) Escorts
 
VIP Independent Call Girls in Andheri 🌹 9920725232 ( Call Me ) Mumbai Escorts...
VIP Independent Call Girls in Andheri 🌹 9920725232 ( Call Me ) Mumbai Escorts...VIP Independent Call Girls in Andheri 🌹 9920725232 ( Call Me ) Mumbai Escorts...
VIP Independent Call Girls in Andheri 🌹 9920725232 ( Call Me ) Mumbai Escorts...dipikadinghjn ( Why You Choose Us? ) Escorts
 
VIP Kalyan Call Girls 🌐 9920725232 🌐 Make Your Dreams Come True With Mumbai E...
VIP Kalyan Call Girls 🌐 9920725232 🌐 Make Your Dreams Come True With Mumbai E...VIP Kalyan Call Girls 🌐 9920725232 🌐 Make Your Dreams Come True With Mumbai E...
VIP Kalyan Call Girls 🌐 9920725232 🌐 Make Your Dreams Come True With Mumbai E...roshnidevijkn ( Why You Choose Us? ) Escorts
 
VIP Call Girl Service Andheri West ⚡ 9920725232 What It Takes To Be The Best ...
VIP Call Girl Service Andheri West ⚡ 9920725232 What It Takes To Be The Best ...VIP Call Girl Service Andheri West ⚡ 9920725232 What It Takes To Be The Best ...
VIP Call Girl Service Andheri West ⚡ 9920725232 What It Takes To Be The Best ...dipikadinghjn ( Why You Choose Us? ) Escorts
 
VIP Independent Call Girls in Mira Bhayandar 🌹 9920725232 ( Call Me ) Mumbai ...
VIP Independent Call Girls in Mira Bhayandar 🌹 9920725232 ( Call Me ) Mumbai ...VIP Independent Call Girls in Mira Bhayandar 🌹 9920725232 ( Call Me ) Mumbai ...
VIP Independent Call Girls in Mira Bhayandar 🌹 9920725232 ( Call Me ) Mumbai ...dipikadinghjn ( Why You Choose Us? ) Escorts
 
Booking open Available Pune Call Girls Talegaon Dabhade 6297143586 Call Hot ...
Booking open Available Pune Call Girls Talegaon Dabhade  6297143586 Call Hot ...Booking open Available Pune Call Girls Talegaon Dabhade  6297143586 Call Hot ...
Booking open Available Pune Call Girls Talegaon Dabhade 6297143586 Call Hot ...Call Girls in Nagpur High Profile
 
Top Rated Pune Call Girls Shikrapur ⟟ 6297143586 ⟟ Call Me For Genuine Sex S...
Top Rated  Pune Call Girls Shikrapur ⟟ 6297143586 ⟟ Call Me For Genuine Sex S...Top Rated  Pune Call Girls Shikrapur ⟟ 6297143586 ⟟ Call Me For Genuine Sex S...
Top Rated Pune Call Girls Shikrapur ⟟ 6297143586 ⟟ Call Me For Genuine Sex S...Call Girls in Nagpur High Profile
 
Stock Market Brief Deck (Under Pressure).pdf
Stock Market Brief Deck (Under Pressure).pdfStock Market Brief Deck (Under Pressure).pdf
Stock Market Brief Deck (Under Pressure).pdfMichael Silva
 
( Jasmin ) Top VIP Escorts Service Dindigul 💧 7737669865 💧 by Dindigul Call G...
( Jasmin ) Top VIP Escorts Service Dindigul 💧 7737669865 💧 by Dindigul Call G...( Jasmin ) Top VIP Escorts Service Dindigul 💧 7737669865 💧 by Dindigul Call G...
( Jasmin ) Top VIP Escorts Service Dindigul 💧 7737669865 💧 by Dindigul Call G...dipikadinghjn ( Why You Choose Us? ) Escorts
 
Webinar on E-Invoicing for Fintech Belgium
Webinar on E-Invoicing for Fintech BelgiumWebinar on E-Invoicing for Fintech Belgium
Webinar on E-Invoicing for Fintech BelgiumFinTech Belgium
 
Booking open Available Pune Call Girls Wadgaon Sheri 6297143586 Call Hot Ind...
Booking open Available Pune Call Girls Wadgaon Sheri  6297143586 Call Hot Ind...Booking open Available Pune Call Girls Wadgaon Sheri  6297143586 Call Hot Ind...
Booking open Available Pune Call Girls Wadgaon Sheri 6297143586 Call Hot Ind...Call Girls in Nagpur High Profile
 
7 tips trading Deriv Accumulator Options
7 tips trading Deriv Accumulator Options7 tips trading Deriv Accumulator Options
7 tips trading Deriv Accumulator OptionsVince Stanzione
 
Kopar Khairane Russian Call Girls Number-9833754194-Navi Mumbai Fantastic Unl...
Kopar Khairane Russian Call Girls Number-9833754194-Navi Mumbai Fantastic Unl...Kopar Khairane Russian Call Girls Number-9833754194-Navi Mumbai Fantastic Unl...
Kopar Khairane Russian Call Girls Number-9833754194-Navi Mumbai Fantastic Unl...priyasharma62062
 
falcon-invoice-discounting-unlocking-prime-investment-opportunities
falcon-invoice-discounting-unlocking-prime-investment-opportunitiesfalcon-invoice-discounting-unlocking-prime-investment-opportunities
falcon-invoice-discounting-unlocking-prime-investment-opportunitiesFalcon Invoice Discounting
 
VIP Call Girl in Mumbai 💧 9920725232 ( Call Me ) Get A New Crush Everyday Wit...
VIP Call Girl in Mumbai 💧 9920725232 ( Call Me ) Get A New Crush Everyday Wit...VIP Call Girl in Mumbai 💧 9920725232 ( Call Me ) Get A New Crush Everyday Wit...
VIP Call Girl in Mumbai 💧 9920725232 ( Call Me ) Get A New Crush Everyday Wit...dipikadinghjn ( Why You Choose Us? ) Escorts
 
Kharghar Blowjob Housewife Call Girls NUmber-9833754194-CBD Belapur Internati...
Kharghar Blowjob Housewife Call Girls NUmber-9833754194-CBD Belapur Internati...Kharghar Blowjob Housewife Call Girls NUmber-9833754194-CBD Belapur Internati...
Kharghar Blowjob Housewife Call Girls NUmber-9833754194-CBD Belapur Internati...priyasharma62062
 
Business Principles, Tools, and Techniques in Participating in Various Types...
Business Principles, Tools, and Techniques  in Participating in Various Types...Business Principles, Tools, and Techniques  in Participating in Various Types...
Business Principles, Tools, and Techniques in Participating in Various Types...jeffreytingson
 
call girls in Sant Nagar (DELHI) 🔝 >༒9953056974 🔝 genuine Escort Service 🔝✔️✔️
call girls in Sant Nagar (DELHI) 🔝 >༒9953056974 🔝 genuine Escort Service 🔝✔️✔️call girls in Sant Nagar (DELHI) 🔝 >༒9953056974 🔝 genuine Escort Service 🔝✔️✔️
call girls in Sant Nagar (DELHI) 🔝 >༒9953056974 🔝 genuine Escort Service 🔝✔️✔️9953056974 Low Rate Call Girls In Saket, Delhi NCR
 

Kürzlich hochgeladen (20)

VIP Call Girl in Mira Road 💧 9920725232 ( Call Me ) Get A New Crush Everyday ...
VIP Call Girl in Mira Road 💧 9920725232 ( Call Me ) Get A New Crush Everyday ...VIP Call Girl in Mira Road 💧 9920725232 ( Call Me ) Get A New Crush Everyday ...
VIP Call Girl in Mira Road 💧 9920725232 ( Call Me ) Get A New Crush Everyday ...
 
VIP Independent Call Girls in Andheri 🌹 9920725232 ( Call Me ) Mumbai Escorts...
VIP Independent Call Girls in Andheri 🌹 9920725232 ( Call Me ) Mumbai Escorts...VIP Independent Call Girls in Andheri 🌹 9920725232 ( Call Me ) Mumbai Escorts...
VIP Independent Call Girls in Andheri 🌹 9920725232 ( Call Me ) Mumbai Escorts...
 
VIP Kalyan Call Girls 🌐 9920725232 🌐 Make Your Dreams Come True With Mumbai E...
VIP Kalyan Call Girls 🌐 9920725232 🌐 Make Your Dreams Come True With Mumbai E...VIP Kalyan Call Girls 🌐 9920725232 🌐 Make Your Dreams Come True With Mumbai E...
VIP Kalyan Call Girls 🌐 9920725232 🌐 Make Your Dreams Come True With Mumbai E...
 
W.D. Gann Theory Complete Information.pdf
W.D. Gann Theory Complete Information.pdfW.D. Gann Theory Complete Information.pdf
W.D. Gann Theory Complete Information.pdf
 
VIP Call Girl Service Andheri West ⚡ 9920725232 What It Takes To Be The Best ...
VIP Call Girl Service Andheri West ⚡ 9920725232 What It Takes To Be The Best ...VIP Call Girl Service Andheri West ⚡ 9920725232 What It Takes To Be The Best ...
VIP Call Girl Service Andheri West ⚡ 9920725232 What It Takes To Be The Best ...
 
VIP Independent Call Girls in Mira Bhayandar 🌹 9920725232 ( Call Me ) Mumbai ...
VIP Independent Call Girls in Mira Bhayandar 🌹 9920725232 ( Call Me ) Mumbai ...VIP Independent Call Girls in Mira Bhayandar 🌹 9920725232 ( Call Me ) Mumbai ...
VIP Independent Call Girls in Mira Bhayandar 🌹 9920725232 ( Call Me ) Mumbai ...
 
Booking open Available Pune Call Girls Talegaon Dabhade 6297143586 Call Hot ...
Booking open Available Pune Call Girls Talegaon Dabhade  6297143586 Call Hot ...Booking open Available Pune Call Girls Talegaon Dabhade  6297143586 Call Hot ...
Booking open Available Pune Call Girls Talegaon Dabhade 6297143586 Call Hot ...
 
Top Rated Pune Call Girls Shikrapur ⟟ 6297143586 ⟟ Call Me For Genuine Sex S...
Top Rated  Pune Call Girls Shikrapur ⟟ 6297143586 ⟟ Call Me For Genuine Sex S...Top Rated  Pune Call Girls Shikrapur ⟟ 6297143586 ⟟ Call Me For Genuine Sex S...
Top Rated Pune Call Girls Shikrapur ⟟ 6297143586 ⟟ Call Me For Genuine Sex S...
 
Stock Market Brief Deck (Under Pressure).pdf
Stock Market Brief Deck (Under Pressure).pdfStock Market Brief Deck (Under Pressure).pdf
Stock Market Brief Deck (Under Pressure).pdf
 
( Jasmin ) Top VIP Escorts Service Dindigul 💧 7737669865 💧 by Dindigul Call G...
( Jasmin ) Top VIP Escorts Service Dindigul 💧 7737669865 💧 by Dindigul Call G...( Jasmin ) Top VIP Escorts Service Dindigul 💧 7737669865 💧 by Dindigul Call G...
( Jasmin ) Top VIP Escorts Service Dindigul 💧 7737669865 💧 by Dindigul Call G...
 
Webinar on E-Invoicing for Fintech Belgium
Webinar on E-Invoicing for Fintech BelgiumWebinar on E-Invoicing for Fintech Belgium
Webinar on E-Invoicing for Fintech Belgium
 
Booking open Available Pune Call Girls Wadgaon Sheri 6297143586 Call Hot Ind...
Booking open Available Pune Call Girls Wadgaon Sheri  6297143586 Call Hot Ind...Booking open Available Pune Call Girls Wadgaon Sheri  6297143586 Call Hot Ind...
Booking open Available Pune Call Girls Wadgaon Sheri 6297143586 Call Hot Ind...
 
7 tips trading Deriv Accumulator Options
7 tips trading Deriv Accumulator Options7 tips trading Deriv Accumulator Options
7 tips trading Deriv Accumulator Options
 
Kopar Khairane Russian Call Girls Number-9833754194-Navi Mumbai Fantastic Unl...
Kopar Khairane Russian Call Girls Number-9833754194-Navi Mumbai Fantastic Unl...Kopar Khairane Russian Call Girls Number-9833754194-Navi Mumbai Fantastic Unl...
Kopar Khairane Russian Call Girls Number-9833754194-Navi Mumbai Fantastic Unl...
 
falcon-invoice-discounting-unlocking-prime-investment-opportunities
falcon-invoice-discounting-unlocking-prime-investment-opportunitiesfalcon-invoice-discounting-unlocking-prime-investment-opportunities
falcon-invoice-discounting-unlocking-prime-investment-opportunities
 
VIP Call Girl in Mumbai 💧 9920725232 ( Call Me ) Get A New Crush Everyday Wit...
VIP Call Girl in Mumbai 💧 9920725232 ( Call Me ) Get A New Crush Everyday Wit...VIP Call Girl in Mumbai 💧 9920725232 ( Call Me ) Get A New Crush Everyday Wit...
VIP Call Girl in Mumbai 💧 9920725232 ( Call Me ) Get A New Crush Everyday Wit...
 
Kharghar Blowjob Housewife Call Girls NUmber-9833754194-CBD Belapur Internati...
Kharghar Blowjob Housewife Call Girls NUmber-9833754194-CBD Belapur Internati...Kharghar Blowjob Housewife Call Girls NUmber-9833754194-CBD Belapur Internati...
Kharghar Blowjob Housewife Call Girls NUmber-9833754194-CBD Belapur Internati...
 
Call Girls in New Ashok Nagar, (delhi) call me [9953056974] escort service 24X7
Call Girls in New Ashok Nagar, (delhi) call me [9953056974] escort service 24X7Call Girls in New Ashok Nagar, (delhi) call me [9953056974] escort service 24X7
Call Girls in New Ashok Nagar, (delhi) call me [9953056974] escort service 24X7
 
Business Principles, Tools, and Techniques in Participating in Various Types...
Business Principles, Tools, and Techniques  in Participating in Various Types...Business Principles, Tools, and Techniques  in Participating in Various Types...
Business Principles, Tools, and Techniques in Participating in Various Types...
 
call girls in Sant Nagar (DELHI) 🔝 >༒9953056974 🔝 genuine Escort Service 🔝✔️✔️
call girls in Sant Nagar (DELHI) 🔝 >༒9953056974 🔝 genuine Escort Service 🔝✔️✔️call girls in Sant Nagar (DELHI) 🔝 >༒9953056974 🔝 genuine Escort Service 🔝✔️✔️
call girls in Sant Nagar (DELHI) 🔝 >༒9953056974 🔝 genuine Escort Service 🔝✔️✔️
 

SRI Briefings - Jun 2007 - UBS Global Warming Index - Weather Derivatives - ilija Murisic

  • 1. SRIB Bond market sparks ethical interests riefings Independent analysis of responsible investment issues MAY/JUN 2007 — Issue 10 !"#$%#$&' Bob Cripps explores the opportunity for SRI in fixed income investments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overnment bonds 5)9#70%&'#%3' '.:! :+D*&,F&.@! '! -$*18$(&$! /+%'9,+! $8! S$0+*.2+.1! /$.:,>! 17$9@7! 0+*)! ,+%9*+>! 752/)$%'70)#*%' &2-+.:&.@! *+1&*+2+.1! '*+! 0+*)! 8*+;9+.1! 7&@7()! (&;9&:! '.:! +',&()! *+'(&,'/(+>! -$,+! '.! $.)7>%.'2#1%L' $%%9**+.%+,>! B7&%7! -*+,+.1! &.0+,12+.1! &.! &.%*+',&.@! %7'((+.@+! 8$*! +17&%'(! &.0+,1$*,<! ()*%'M, ' !)#)12)#'NOP' 8&A+:!&.%$2+!&.0+,12+.1!',!'!%$.,&:+*'1&$.!8$*! K$,1! ('%F! 1*'.,-'*+.%)! &.! 17+! ,+.,+! $8! )&&%$&'&0"3' +17&%'(!&.0+,1$*,<! :+1'&(+:! :&,%($,9*+! '/$91! 17+&*! +A'%1! 89.:&.@! *."3$0' -9*-$,+,<! E$*! +A'2-(+>! ,$2+! +17&%'(! ()*%'QR,'S%3'P#&9.)#7%' Screening &.0+,1$*,! B$9(:! '0$&:! &.0+,12+.1! &.! Q#! $*! 5)9#70%&'*.%%#' QT!S$0+*.2+.1!/$.:,!&.!17+!F.$B(+:@+!17'1! 0"/%'6"527A ' #%*++.&.@! 1+%7.&;9+,! '*+! ,&2&('*! 1$! ,$2+! +(+2+.1! $8! 17+! 89.:,! *'&,+:! /)! 17+! 1+%7.&;9+,! 1$! ,%*++.! +;9&1&+,<! =7+)! %'.! /+! &,,9+,!2')!8&.'.%+!17+!B'*!&.!5*';<!! -$,&1&0+>! 17'1! &,! ,++F&.@! /$.:,! B&17! -$,&1&0+! +17&%'(!'11*&/91+,!$*!.+@'1&0+>!17'1!&,!+A%(9:&.@! 3) Corporate bonds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nvestment opportunities *+%$*:!&.!'*+',!,9%7!',!17+!+.0&*$.2+.1<!L$B+0+*>!'!.92/+*!$8!%$2-'.&+,! available 17'1!8$%9,!$.!+.0&*$.2+.1'(!-*$J+%1,!7'0+!(&,1+:>!-'*1&%9('*()!&.!B&.:!+.+*@)! -*$J+%1,<! =7+,+! '*+! .$*2'(()! 0+*)! -$,&1&0+! 8$*! 2$,1! +17&%'(! &.0+,1$*,<! 1) Construction of ethical income portfolios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`W"W! &,! /'%F+:! /)! ($'.,! 1$! +A'2-(+! 1$! &.0+,1! &.! +17&%'(()! '%%+-1'/(+! 7&@7! ,$%&'(!7$9,&.@!$*@'.&,'1&$.,!'.:!&1!7',!/++.!,1*9%19*+:!1$!/+!RRR!*'1+:!U! )&+(:&.@!+;9&1&+,!&.!&.:9,1*&+,!,9%7!',!/'.F&.@>! 17+!7&@7+,1!;9'(&1)<! 1+(+%$229.&%'1&$.,>! -9/(&%! 1*'.,-$*1! '.:! 91&(&1&+,<! (Continued on page 2) SRI Briefings — Independent analysis of responsible investment issues ISSUE 10, MAY/JUN 2007 , ISSN 1749-589X !"!
  • 2. In Brief ….. Business opportunities for asset finance Climate change can bring business opportunities for the asset finance industry according to a new report by the UK Social Investment Forum (UKSIF), Green opportunity: accelerating the financing of the low carbon assets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b=7+*+! &,! '! +A-+%1! 17+&*! %$2-'.&+,! 1$! ,7$B! &.%*+',&.@! '%1&0&1)! &.! 17&,! ,&@.&8&%'.1! $--$*19.&1)! 8$*! $9*! ',,+1! 8&.'.%+! 2+2/+*,! 1$! '*+'<! =7+)! 8$*+%',1! 17'1! %(&+.1,! B$9(:! ($$F! 1$! *+:9%+! 17+&*! ,9--$*1! 17+! 9,+! $8! ($B! %'*/$.! %'-&1'(! +;9&-2+.1>! /+.+8&1&.@! +A-$,9*+! 1$! 8919*+! &.%*+',+,! &.! +.+*@)! %$,1,! '.:! %91! 17+&*! %(&2'1+!%7'.@+!'.:!&.%*+',&.@!.+B!/9,&.+,,<c! %'*/$.!+2&,,&$.,<!#9%7!'!2$0+!B&((!*+,9(1!&.!+0+*!&.%*+',&.@! =7+! EPR! &,! 17+! -*&.%&-'(! *+-*+,+.1'1&0+! $8! 17+! ',,+1>! :+2'.:<! %$.,92+*!'.:!2$1$*!8&.'.%+!,+%1$*,!&.!17+!QT>!B&17!2+2/+*,! R! *'.@+! $8! :*&0+*,! 8$*! ',,+1! 8&.'.%+! %$2-'.&+,! '.:! 17+&*! '%7&+0&.@!daX!/&((&$.!3e"X!/&((&$.6!$8!.+B!/9,&.+,,!&.!`WWf<! ,1'F+7$(:+*,!B+*+!&:+.1&8&+:<!=7+,+!&.%(9:+V! Canadian SRI assets show growth Canada’s SRI assets have rocketed to an estimated C$503.6 billion (US$436.3 billion) on the back of growing institutional interest in socially responsible investment, according to a recent study by the country’s Social Investment Organisation (SIO). This is an increase from C$65.5 billion in 2004. =7+! ,19:)! &,! /',+:! $.! '! ,9*0+)! $8! #45! ',,+1,! %$.:9%1+:! .+B!'--*$'%7!&.!#45<! +0+*)!1B$!)+'*,<! =7+! ,19:)! 8$9.:! 17'1! 17+! /&@! &.%*+',+! &.! #45! ',,+1,! B',! =7+!,19:)!8$9.:!17'1!Me^]<[!/&((&$.!&.!',,+1,!B+*+!&.0+,1+:! 2'&.()! :9+! 1$! 17+! *+%+.1! ':$-1&$.! $8! #45! -$(&%&+,! '.:! '%%$*:&.@!1$!%$*+!#45!,1*'1+@&+,>!17$,+!&.%$*-$*'1&.@!0'(9+,D -*'%1&%+,!/)!'!.92/+*!$8!('*@+!-9/(&%!-+.,&$.!89.:,<! /',+:!:+%&,&$.,!'/$91!&.0+,12+.1!,+(+%1&$.!'.:!2'.'@+2+.1! B&17!*&,F!'.:!*+19*.!%$.,&:+*'1&$.,<! b5,,9+,! ,9%7! ',! %(&2'1+! %7'.@+>! 792'.! *&@71,! '.:! &.1+*.'1&$.'(! :+0+($-2+.1! '*+! @+.+*'1&.@! +.$*2$9,! -9/(&%! =7+! *+2'&.:+*>! Me[[]<`! /&((&$.! &.! ',,+1,! B',! &.0+,1+:! '.:!8&.'.%&'(!&.:9,1*)!%$.%+*.<!5.0+,12+.1!2'.'@+*,!'*+!.$B! '%%$*:&.@! 1$! /*$':! #45! ,1*'1+@&+,>! -*&2'*&()! /',+:! $.! '! *+%$@.&,&.@!17&,>!'.:!':$-1&.@!,$%&'(()!*+,-$.,&/(+!&.0+,12+.1! 8&:9%&'*)! '.'(),&,! $8! 17+! *&,F! '.:! *+19*.! %7'*'%1+*&,1&%,! $8! -$(&%+,! '.:! ,1*'1+@&+,! ',! '! *+,9(1>c! ,'&:! I9@+.+! I((2'.>! +.0&*$.2+.1'(>! ,$%&'(! '.:! @$0+*.'.%+! &,,9+,! U! '! *+('1&0+()! +A+%91&0+!:&*+%1$*!$8!17+!#5Z!&.!'!,1'1+2+.1<! Hedging the weather UBS Investment Bank has launched the first Global Warming Index (GWI), a tradable benchmark for global investments in the weather derivatives market. Designed to reflect the current need of the investment community it provides a simple transparent way to obtain exposure to the weather asset class. =7+! &.:+A! &,! %$.,1*9%1+:! 9,&.@! (&;9&:>! '%1&0+()! 1*':+:! MKI! *$,+! 8*$2! ea<]! /&((&$.! &.! `WW[DW^! 1$! $0+*! e[^! /&((&$.! &.! L+'1&.@! g+@*++! g')! '.:! M$$(&.@! g+@*++! g')! B+'17+*! `WW^DWf>!'%%$*:&.@!1$!'!*+%+.1!*+-$*1!8*$2!HBM<! 8919*+,! %$.1*'%1,<! =7&,! 1)-+! $8! %$.1*'%1! ,+11(+,! $.! 17+! :&88+*+.%+! /+1B++.! 17+! R0+*'@+! g'&()! =+2-+*'19*+! '.:! '! QN#! &,! 7$-+89(! 17'1! 17+! &.:+A! B&((! 19*.! 17+! %$2-(+A&1&+,! $8! @&0+.!N',+!=+2-+*'19*+>!'%%$*:&.@!1$!QN#<! &.0+,1&.@!&.!17+!B+'17+*!&.1$!'!-$-9('*!',,+1!%(',,<!bY+'17+*! :+*&0'1&0+,! 0$(92+,! 7'0+! &.%*+',+:! :*'2'1&%'(()! $0+*! 17+! =7+! SY5! B&((! &.&1&'(()! /+! /',+:! $.! "^! Q#! %&1&+,! &.%(9:&.@! %$9*,+! $8! 17+! (',1! 8+B! )+'*,! )+1! 17+)! *+2'&.! '.! 9.1$9%7+:! R1('.1'>! M7&%'@$>! P',! h+@',! '.:! C+B! i$*F>! ',! %9**+.1()! ',,+1! %(',,! 8$*! 17+! 2'J$*&1)! $8! 17+! 8&.'.%&'(! %$229.&1)<! QN#?! 17+,+!'*+!17+!2$,1!'%1&0+()!1*':+:!$.!17+!M7&%'@$!K+*%'.1&(+! .+B! S($/'(! Y'*2&.@! 5.:+A! B&((! %*+'1+! '! 2'&.,1*+'2! 2'*F+1! IA%7'.@+! 3MKI6<! L$B+0+*! ',! 17+! 2'*F+1! %$.1&.9+,! 1$! @*$B! &.!B+'17+*!&.0+,1&.@!8$*!17+!8&*,1!1&2+>!-*$0&:&.@!'!,&2-(+!B')! $17+*!%&1&+,!'%*$,,!I9*$-+!'.:!R,&'!'*+!(&F+()!1$!J$&.!17+!&.:+A! 8$*! '! /*$':+*! *'.@+! $8! &.0+,1$*,! 1$! @'&.! +A-$,9*+! 1$! 17+! &.!17+!2+:&92!1+*2>!'%%$*:&.@!1$!17+!/'.F<! B+'17+*!',,+1!%(',,!U!+.:!9,+*,!%'.!7+:@+!17+&*!+A-$,9*+!1$! B+'17+*! '.:! &1! '(($B,! /$17! &.,1&191&$.'(! '.:! -*&0'1+! &.0+,1$*,! =$!/+!+(&@&/(+!8$*!&.%(9,&$.!1$!17+!SY5>!17+!0$(92+!$8!8919*+,! 1$!:&0+*,&8)!17+&*!-$*18$(&$!B&17!'.!'(1+*.'1&0+!',,+1!%(',,!+&17+*! 1*':+:!8$*!'.)!@&0+.!%&1)!29,1!*+-*+,+.1!$.+!-+*%+.1!$*!2$*+! :&*+%1()! B&17! 17+! &.:+A! $*! 17$9@7! 7)/*&:! ,1*9%19*+:! -*$:9%1,>! $8!17+!1$1'(!B+'17+*!:+*&0'1&0+,!1*':+:!$.!17+!MKI<! ,'&:!5(&J'!K9*&,&%>!+A+%91&0+!:&*+%1$*>!7)/*&:!:+*&0'1&0+,!1*':&.@! =7+! B+'17+*! :+*&0'1&0+,! 2'*F+1! 7',! ,++.! ,1*$.@! @*$B17! '1!QN#>!&.!'!,1'1+2+.1<! B&17!17+!&2-'%1!$8!%(&2'1+!%7'.@+<!=7+!0$(92+!1*':+:!$.!17+! SRI Briefings — Independent analysis of responsible investment issues ISSUE 10, MAY/JUN 2007 , ISSN 1749-589X !a!
  • 3. In Brief ….. Kew Insurance launches green home policy UK insurance brokers Kew Insurance have launched an innovative Simply Green home insurance policy, which offers discounts ranging from five percent to 20 percent off the usual cost of home insurance. The policy will reward home insurance customers who make the ‘Green Promise’ to take measures to cut carbon emissions within their home. L$2+$B.+*,! B7$! 1'F+! 2&.$*! ,1+-,! 1$! &2-*$0+! 17+&*! 5.! '::&1&$.! 1$! 17+! ,'0&.@,! '0'&('/(+! 17*$9@7! 17+! #&2-()! 7$9,+7$(:?,! %'*/$.! 8$$1-*&.1>! ,9%7! ',! &.,1'((&.@! ($81! S*++.! -$(&%)>! T+B! $88+*,! '! -*&%+! 2'1%7! /+.+8&1>! -*$2&,&.@! &.,9('1&$.>! :$9/(+! @('p&.@>! :*'9@71! +A%(9:+*,! '.:! ($B! 1$! 2'1%7! '.)! %$2-+1&1$*?,! ;9$1+! -*$0&:+:! &1! &,! (&F+D8$*D(&F+! +.+*@)!(&@71!/9(/,>!,B&1%7&.@!$88!+(+%1*&%'(!'--(&'.%+,!'1!17+! %$0+*<! 2'&.,! '.:! *+%)%(&.@! B',1+>! B&((! +'*.! 8&0+! -+*%+.1! :&,%$9.1,<! =7+)! B&((! *+%+&0+! '! %7+%F(&,1! '.:! 29,1! ,'1&,8)! bY+! '*+! 0+*)! -(+',+:! 1$! /+! 17+! 8&*,1! 7$2+! &.,9*'.%+! 8&0+!$91!$8!17+!"W!q@*++.!%*&1+*&'?<! &.1+*2+:&'*)!1$!*+B'*:!$9*!%9,1$2+*,!B7$!2'F+!'!@+.9&.+! S*++.! H*$2&,+! 1$! %91! %'*/$.! +2&,,&$.,! B&17&.! 17+! 7$2+>c! E$*! 17$,+! B7$! 2'F+! 2'J$*! %7'.@+,! B&17&.! 17+&*! 7$2+,! %$22+.1+:! g'0&:! N$).+11+>! 2'.'@&.@! :&*+%1$*! $8! T+B! ,9%7! ',! 17+! &.,1'(('1&$.! $8! ,$('*! -'.+(,! $*! '! B&.:! 19*/&.+! 5.,9*'.%+<! 17+*+!B&((!/+!'!`W!-+*%+.1!:&,%$9.1!'0'&('/(+<! 5.,9*+*,!P+@'(!G!S+.+*'(!9.:+*B*&1+!17+!-$(&%&+,<! Ethical investment amongst UK customers grows Ethical investment is on the increase in the UK, according to recent research by Friends Provident. The life and pensions provider has seen the number of new retail customers investing ethically more than double in the past 10 years. 4+%+.1()! E*&+.:,! H*$0&:+.1! '..$9.%+:! 17'1! &1,! 2'.'@+:! 17+!*+@&$.,>!"X!-+*%+.1!$8!+17&%'(!&.0+,1$*,!'*+!8*$2!17+!K&:('.:,>!"W! +17&%'(!89.:,!7':!-',,+:!17+!dX!/&((&$.!3e^!/&((&$.6!2'*F<! -+*%+.1!8*$2!17+!#$917!$8!I.@('.:!'.:!+&@71!-+*%+.1!8*$2!+'%7!$8! Y'(+,!'.:!17+!Y+,1>!P'.%',7&*+!'.:!i$*F,7&*+<! =7+! *+,+'*%7! /',+:! $.! 17+! -*$0&:+*?,! `W]>WWW! +17&%'(! &.0+,12+.1! %9,1$2+*,! +A'2&.+:! 1*+.:,! &.! ,$%&'(()! bH+$-(+! 8*$2! '((! B'(F,! $8! (&8+! '*+! 8&.:&.@! 17'1! ,$%&'(()! *+,-$.,&/(+!&.0+,12+.1!'.:!*+0+'(+:!17'1V! *+,-$.,&/(+! &.0+,12+.1! &,! '! *+'(! $-1&$.! 8$*! '.)/$:)! B7$! %'*+,!'/$91!B7'1!17+&*!2$.+)!&,!:$&.@>c!,'&:!O9(&'!g*+/($B>! =7+!'0+*'@+!'@+!$8!'.!&.0+,1$*!B7+.!17+)!8&*,1!&.0+,1!+17&%'(()! 2'*F+1&.@! 2'.'@+*! 8$*! ,$%&'(()! *+,-$.,&/(+! &.0+,12+.1! '1! 7',!*&,+.!8*$2!X!&.!"aa]!1$!["!%9**+.1()<! E*&+.:,!H*$0&:+.1<! =7+*+!&,!'.!&.%*+',+!&.!17+!'@+!$8!+17&%'(!&.0+,1$*,>!,9@@+,1&.@! #9%7!@*$B17!&,!/$*.+!$91!/)!17+!5.0+,12+.1!K'.'@+2+.1! $(:+*!-+$-(+!'*+!&.!19.+!B&17!,$%&'(()!*+,-$.,&/(+!&.0+,12+.1<!5.!"aaf>! R,,$%&'1&$.>! B7&%7! -9/(&,7+:! 8&@9*+,! ,7$B&.@! 17'1! +17&%'(! "!-+*%+.1!B+*+!$0+*!^Wk!17+!%9**+.1!8&@9*+!&,!`X!-+*%+.1<! 89.:,! 9.:+*! 2'.'@+2+.1! &.! r"! `WW]! ,'B! '.! &.%*+',+! $8! +&@71! -+*%+.1! $.! 17+! -*+0&$9,! ;9'*1+*! '.:! 9-! `"! -+*%+.1! I17&%'(!&.0+,12+.1!&,!.$1!@+.:+*!,-+%&8&%>![f!-+*%+.1!$8!&.0+,1$*,! 8*$2!r"!(',1!)+'*>!-',,&.@!17+!d^!/&((&$.!2&(+,1$.+<! /+&.@!8+2'(+!'.:!^`!-+*%+.1!2'(+<! C+1!*+1'&(!,'(+,!$8!daa<!2&((&$.!B+*+!'(2$,1!:$9/(+!17$,+! R(17$9@7!'(2$,1!'!;9'*1+*!$8!+17&%'(!&.0+,1$*,!'*+!/',+:!&.! ,++.! &.! r[! `WWf! '.:! B+*+! 17*++! 1&2+,! 7&@7+*! 17'.! 17+! P$.:$.!17+*+!&,!'(,$!'!@*$B&.@!%$22&12+.1!1$!+17&%'(!&.0+,12+.1!&.! ,'2+!;9'*1+*!&.!17+!-*+0&$9,!)+'*<! Editor: #9,'.!g*9*)!l!! Seeking a wider audience for your ! Tel: m[[!3W6"a`!^X[WXn^`^]W^!l!! ! Fax: m[[!3W6"a`!^`]^[W!l!! research, news and events? ! Email: ,:*9*)o,*&/<%$<9F!! SRI Briefings and The London Accord Publisher: L9*,1B$$:!5.8$*2'1&$.!#+*0&%+,>!! ! g$B.!P$:@+>!! welcome quality research and events ! L9*,1B$$:!P'.+>!! listings from industry analysts, ! =9./*&:@+!Y+((,>!! professional bodies and institutions in ! T+.1>!! ! =C[!iR>!! the sustainable investment field. ! Q<T<!! Contact the Editor, SRI Briefings. Subscriptions: ^WW!8$*!f!&,,9+,!-+*!)+'*<! Email: ,9/,%*&/+o,*&/<%$<9F!! Email: sdrury@srib.co.uk www.srib.co.uk Or visit The London Accord at: www.london-accord.co.uk SRI Briefings — Independent analysis of responsible investment issues ISSUE 10, MAY/JUN 2007 , ISSN 1749-589X !"W! j!L9*,1B$$:!5.8$*2'1&$.!#+*0&%+,! Copyright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k!.$!-'*1!$8! 17&,!-9/(&%'1&$.!2')!/+!*+-*$:9%+:>!,1$*+:!&.!'!*+1*&+0'(!,),1+2!$*!1*'.,2&11+:!&.!'.)!8$*2!$*!/)!'.)!2+'.,>!+(+%1*&%'(>!2+%7'.&%'(>!-7$1$%$-)&.@>!*+%$*:&.@>!