Economic Impact of Japanese Earthquake Will Be Felt For Some Time
Cheryl Smith, Ph.D., CFA As we watched the awesome power and devastation of the Japanese earthquake and tsunami, our attention bounced between concern for the more than 18,000 people either dead or missing, horrified fascination with the evolving control issues at the Fukushima Daiichi nuclear power plant, and concern about the eventual impact on the Japanese and world economies. The appalling immediate and local impact of the tsunami was obvious from the photos and news coverage. Recovery is further complicated by the deteriorating and unknown final status of the nuclear power plant. The economic effect of natural disasters varies with …
Dear Reader
Matt Patsky, CFA, CEO It is exciting for me personally and for Trillium to be involved in the emergence of Impact Investing as a vital piece of the larger Sustainable and Responsible Investing (SRI) industry. I recently had the privilege of attending both the Skoll World Forum and the Social Venture Network’s spring conference. These organizations, among so many others, are working to find innovative solutions to the world’s most pressing challenges. While attending the Forum, I also had the opportunity to meet briefly with Archbishop Desmond Tutu, who was one of the keynote speakers. The Archbishop spoke appreciatively of …
Nuclear Power Finds Some Acceptance Within the SRI Community
Milton Moskowitz I was 18 when two atom bombs were dropped on Japan, and I remember feeling relieved because it meant that we probably would not need to sacrifice thousands of soldiers’ lives in a frontal invasion of the Japanese mainland. There were few dissenters to this action, which did accomplish its mission. Seeing the destruction wrought in Hiroshima and Nagasaki, the Japanese government surrendered, ending World War II. It’s eerie that 66 years later nuclear energy is again causing havoc in Japan, although this time it was self-imposed. The combination of a 9.0 earthquake and subsequent tsunami crippled the …
Still “Impactful” After All These Years
Jonas Kron, JD In the Winter 2011 issue of Investing For A Better World, our colleague Farnum Brown described shareholder advocacy as version 2.0 on SRI’s (socially responsible investment’s) travels towards 3.0, and discussed the importance of directly pressing companies to improve their environmental and social impacts. Similarly, Amy Domini of Domini Social Investments recently wrote passionately in the Huffington Post about the importance of shareholder advocacy as a meaningful way for investors to have a positive impact on the world. Both pieces touched upon the ongoing debate about what to call our field. What was once “socially responsible” or …
"Money with a Conscience"
Trillium CEO Matt Patsky is featured in the current issue of Real Leaders, discussing the impact people can have when aligning their investment portfolios with the values they care about: “The reality is, the way you invest can have much more impact, given the magnitude of wealth being invested versus the amount being donated.” Click here to read the article on page 26. …
Trillium hires SRI Veteran Paul Hilton
June 7, 2011 Boston, MA – Trillium Asset Management is pleased to announce that Paul Hilton, CFA, has joined the firm as a portfolio manager. Mr. Hilton has been involved in sustainable and responsible investing for over 15 years, working on both the investment and sustainability research and advocacy sides. “We are delighted to have Paul join Trillium. His long history as an innovator in the field of SRI augments the deep talent already in place at Trillium,” commented Matt Patsky, Trillium’s CEO. “Paul has collaborated with Trillium staff over the years on various projects, including the co-founding of SIRAN …
"Chevron chiefs face shareholders after huge $18bn Ecuador fine"
Shelley Alpern, Trillium’s Director of ESG Research and Shareholder Advocacy, was quoted in guardian.co.uk on May 25, 2011: “The Ecuadorian courts are but one step away from seizing Chevron’s assets to pay for the record $18bn judgment. It doesn’t seem unreasonable to hope that a settlement agreement might be brokered that comes in below this extraordinary amount, puts funds to work immediately restoring the polluted areas, and helps Chevron put this reputational disaster behind it.” Click here to read the article. Click here to read Trillium’s press release about the request made to the SEC to review Chevron’s shareholder disclosures. …
2011 Bavaria Award Recipients: KLD Co-founder Peter Kinder and Root Capital's William Foote
Building a Sustainable Global Economy: KLD Co-founder Peter Kinder and Root Capital’s William Foote Recipients of 2011 Bavaria Awards May 11, 2011 OAKLAND—Socially responsible investing advocates Peter Kinder, co-founder and president until 2009 of KLD Research & Analytics, and William Foote, founder and CEO of Root Capital, were honored last night, May 10, by Ceres and Trillium Asset Management as this year’s winners of the fourth annual Joan Bavaria Awards for Building Sustainability into the Capital Markets. The announcement was made at the opening reception of the Ceres annual conference, which runs May 11-12, at the Oakland Marriott City Center …
"Target changes political donations policy after controversy"
The LA Times reported on Target’s recent change to it’s political donations policy, coming after the nationwide controversy that erupted following last summer’s contributions to MN Forward, an independent political committee that funneled money to a gubernatorial candidate known for his extreme opposition to lesbian and gay civil rights. Led by Trillium and Walden, 21 investors sponsored a shareholder resolution at Target urging the Board to institute a comprehensive review of Target’s political contributions, including criteria for donations to candidates and how such donations might have a negative impact on Target’s reputation. “This is at least one more company going on …
Target & Best Buy Announce New Policies on Political Spending
Target Corporation (NYSE: TGT) and Best Buy (NYSE: BBY) have revised their policies on political spending in the aftermath of the nationwide controversy that erupted following last summer’s contributions to MN Forward, an independent political committee that funneled money to a gubernatorial candidate known for his extreme opposition to lesbian and gay civil rights. The new policies culminate months of review by both companies. Target and Best Buy made contributions of $150,000 and $100,000, respectively, to MN Forward. After the contributions were disclosed in state filings, Target in particular drew the ire of retail consumers, gay rights organizations, and those …
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