A new report by WWF and financial analysts Innovest claimed that Norway's large and influential Government Pension Fund, with a reputation as a leader in ethical investments, does not apply best practice in sustainable investments, and is not yet fully addressing the impacts of global warming. The report ranks key public investment funds in terms of application of leading edge tools for sustainable investment, particularly with regards to addressing climate change. The ranking shows public pension funds such as ABP Netherlands and CalPERS to be leading the way, with sovereign wealth funds such as Norway's Government Pension Fund lagging significantly behind, primarily due to not applying the latest best practices for positive screening and targeted environmental investments. The study noted the pension fund has a limited use of SRI techniques which are reliant on negative screening and suggested NGPFG should consider actively pursuing further development of positive screening.

Source : Innovest Group

More than 130 leading investors, representing assets worth $6.4 trillion, warned world leaders that any global agreement on climate change must be strong and binding to guarantee necessary financing for global emissions reduction and adaptation efforts, and that the financial crisis should not delay efforts to address rising global temperatures. In a joint Statement sent to Heads of State and climate negotiators, investors called for a strong, binding framework to succeed the Kyoto Protocol, warning that clear and long-term policy signals are essential if investors are to allocate the huge amounts of private capital required to fund the transition to a low-carbon economy. The Statement was sent by some of the world's largest asset managers and pension funds, collectively representing $6.4 trillion in assets. It was co-ordinated by three investor groups on climate change (the Investor Network on Climate Risk, the Institutional Investors Group on Climate Change and the Investors Group on Climate Change).

Source : INCR

A group of investors representing over $700 billion in assets, and environmental organizations, called on the U.S. Securities and Exchange Commission (SEC) to address climate-related risks in its proposed rule revising oil and gas reporting requirements. The investors sent a letter to the SEC in response to Modernization of the Oil and Gas Reporting Requirements, which proposes to expand the categories of oil and gas resources companies may report, including for non-proven reserves such as oil sands. While praising the SEC for modernizing outdated reporting requirements, the letter asks the commission to allow additional disclosure of non-proven oil and gas reserves only if descriptive and categorical information is required, in addition to the potential liabilities that could be expected, such as from regulatory risks. The signatories to the letter include CalPERS, the California State Teachers' Retirement System, F&C Management Ltd., Ceres and Oil Change International.

Source : Ceres

For the past three decades, members of the Interfaith Center on Corporate Responsibility (ICCR) have worked with financial institutions to address the needs of the poor to obtain access to capital for: sustainable development, affordable housing in the U.S. and responsible lending in developing countries. As the credit crisis overspread, Seamus Finn, OMI, a longtime representative of his community at ICCR issued a statement on Sept 26, 2008 on behalf of members of the organization reminding the financial community of the way they discussed these issues with key executives of these institutions, bringing them to the attention of shareholders through the annual proxy. According to ICCR, social investors have filed at least two-dozen shareholder resolutions directed at predatory lending practices, the first of which dates back to 1999. Some of the institutions targeted by investors included Citigroup, Wells Fargo, Bank of America, Household International, and Associates First Capital.

Source : Interfaith Center on Corporate Responsibility