------------------------------------------------------------------------ The UNEP FI e-bulletin -------------------------------------------------------------------------- To view the rich text version of this bulletin please follow the below link: http://www.unepfi.net/ebulletin/ -------------------------------------------------------------------------- Quotation of the Month: "While, at times, it may be difficult for them to collaborate, the scale of today's social and environmental problems requires it." - Gavin Power, public affairs director of the UN Global Compact, referring to a study that calls on NGOs to develop a better understanding of business and to form effective partnerships with the private and public sectors to address the social impact of globalisation. From The Financial Times ; June 25, 2003 -------------------------------------------------------------------------- 1. UNEP FI Tokyo Roundtable Update (October 20-21, 2003 ; Tokyo, Japan) 2. Royal Awards for Sustainability to be Presented at the UNEP FI Global Roundtable 3. Clear Profit Becomes UNEP FI Tokyo Roundtable Network Partner EVENT OUTCOMES 4. Climate Change Negotiators Looking Ahead to Kyoto Ratification (June 4-13, 2003 ; Bonn, Germany) 5. The 1st International SRI Conference in Korea (June 17, 2003 ; Seoul, South Korea) MEMBER SHOWCASE 6. Standard Chartered Recognised with Two Major Awards for Community Programmes 7. Acuity Investment Management Receives The Globe Award for Environmental Excellence EVENT WIRE 8. Environmental Banking Seminar (July 28 - August 1, 2003 ; Bangkok, Thailand) 9. 'Financing Sustainable Development' (September 11, 2003 ; Hong Kong, China) 10. Ethical Corporation Asia 2003 (September 22-23 2003 ; Singapore) NEWS 11.'Governance for Corporate Responsibility - The Role of Non-Executive Directors in Environmental, Social and Ethical Issues' 12. Leading Banks Adopt Equator Principles 13. U.S. Drops in Country Sustainability Ratings -------------------------------------------------------------------------- 1. UNEP FI Tokyo Roundtable Update 'Sustaining Value' October 20-21, 2003 ; Tokyo, Japan http://www.unepfi.net/tokyo Registration for the UNEP FI Tokyo Roundtable is now available online! Please visit http://www.unepfi.net/tokyo/register and benefit from the early registration discount! The UNEP FI Roundtable continues to attract significant interest from major media outlets around the world, particularly in Japan. Following two newspaper articles (May 28, 2003, Japan Industrial Journal and June 11, 2003, The Nikkei Financial Daily) from UNEP FI's preparation trip to Tokyo in May, all major Japanese newspaper companies are set to become official supporters of the event. In addition, several Japanese ministries, including Foreign Affairs, Economy, Trade and Industry, and the Financial Services Agency, have also expressed an interest in supporting the conference. It promises to be a very high profile event and we look forward to having you there! Official Roundtable Sponsors: Co-host of the Roundtable: Development Bank of Japan Japanese financial institution sponsors: Mitsui Sumitomo Insurance, Nikko Cordial, Nipponkoa Insurance, Sompo Japan Insurance, Sumitomo Mitsui Financial Group, Tokyo Marine & Fire Insurance Major sponsors: Deutsche Bank, International Finance Corporation (IFC), Ministry of the Environment of Japan Other sponsors: Shiga Bank, Good Bankers The roundtable will also feature the unique support of both the University of Wageningen and CO2e.com. The University of Wageningen will kindly sponsor a workshop on biodiversity markets, while CO2e.com will offset participant's CO2 emissions to make the conference Emissions Neutral! Sponsorship and marketing opportunities are available. Do not miss this opportunity to demonstrate your commitment to sustainability to this global audience. Contacts: Philip Moss: philip.moss@unep.ch (sponsorship) Mareike Hussels: mareike.hussels@unep.ch (marketing) -------------------------------------------------------------------------- 2. Royal Awards for Sustainability to be Presented at the UNEP FI Global Roundtable http://www.royalawards.org ; http://www.unepfi.net/tokyo/royalaward The Royal Awards for Sustainability, in conjunction with UNEP FI are now accepting applications for The Royal Awards for Sustainable Investment. The award will identify and reward financial institutions which are building, for the long-term, a sustainability approach into their investment activities. Open to all companies in the financial community regardless of size or type, the award focuses on overall corporate philosophy and approach, seeking to unearth the "hidden gems" of responsible investment that are making a difference in the field of sustainable development. The deadline for receipt of completed applications is August 22, 2003. The award will be delivered at the UNEP FI Tokyo Roundtable on October 21, 2003. Contact: Kassandra Andrews: kassandra.andrews@unepfi.net -------------------------------------------------------------------------- 3. Clear Profit Becomes UNEP FI Tokyo Roundtable Network Partner http://www.clear-profit.com Clear Profit has recently joined the group of official network partners for the UNEP FI 2003 Global Roundtable. Clear Profit provides lively, independent insight into the latest response from the markets and their regulators to the growing demand for investments to deliver social and environmental returns as well as financial ones. To subscribe to this free monthly email newsletter simply send a blank email to: clearprofit-subscribe@headstar.com Contact: Phil Cain (editor): cp-enquiries@headstar.com Tel: +44 127 323 1291 -------------------------------------------------------------------------- EVENT OUTCOMES -------------------------------------------------------------------------- 4. Climate Change Negotiators Looking Ahead to Kyoto Ratification June 4-13, 2003 ; Bonn, Germany http://unfccc.int/sessions/sb18/index.html The United Nations Framework Convention on Climate Change (UNFCCC) Eighteenth Session of the Subsidiary Bodies (SB 18) was held at the Maritim Hotel, Bonn, Germany. Around 1300 participants representing 137 country member parties, 107 observer organisations (including UNEP FI) and 6 media outlets were in attendance for the two-week event. The purpose of these mid-term COP meetings was to allow delegates to continue negotiations carried over from COP 8 in New Delhi and prepare for the Kyoto Protocol's 'imminent' entry into force. The subject of insurance and climate change was discussed thoroughly during these sessions, focusing predominantly on UNFCCC Articles 4.8 and 4.9 (dealing with adverse effects of climate change). The Insurance Workshops attended by the UNEP FI Climate Change Working Group (CCWG) on May 12-16, which focussed on risk assessment in the context of climate change and insurance-related actions required to address the needs of developing country parties arising from adverse climate change effects, were mandated by Articles 4.8 and 4.9. The outcomes of which were discussed by the member parties during the SB 18 sessions. The need for long-term international solutions to minimise adverse effects and the according insurance industry observer status in the climate change process were highlighted. Although draft conclusions were eventually adopted by the parties on 13 June, little agreement could be reached by way of concrete actions. A formal report on the Insurance Workshops themselves will be made public in July. Both Articles will be further deliberated at COP 9 in Milan, Italy (1-13 December 2003). This important event provided yet another opportunity for UNEP FI to further establish itself as an integral component of the global climate change negotiations. The UNEP FI Secretariat met with key members of the UNFCCC to develop a future game plan on how the UNEP FI CCWG could most effectively embed itself in the overall process. Specific recommendations from the UNFCCC Secretariat as to a 'way forward' for UNEP FI are expected in the coming weeks. Contact: Scott Flemming: scott.flemming@unep.ch -------------------------------------------------------------------------- 5. The 1st International SRI Conference in Korea June 17, 2003 ; Seoul, South Korea UNEP FI delivered the Keynote speech at the first international SRI conference in Korea, which took place in Seoul on June 17th. The event, coordinated by the publishing house Han-Kyoreh, Economy21 and Eco-Frontier, attracted a group of around 100 senior participants from Korea's corporate sector. The underlining theme for many of the presentations was the critical role that Corporate Governance will play in developing sri in the region. Political support for the event was demonstrated in speeches from Mr. Keun-Tae Kim, from the National Assembly and Mr. Jin-Pyo Kim, Deputy Prime Minister and Finance Minister. Finance Minister Kim pledged his support for the growth of Sustainable and Responsible Investment in Korea, which currently consists of Samsung's Ecofund. -------------------------------------------------------------------------- MEMBER SHOWCASE -------------------------------------------------------------------------- 6. Standard Chartered Recognised with Two Major Awards for Community Programmes http://www.standardchartered.com/ourbeliefs Standard Chartered's community work has been recognised with two prestigious international awards. The Global Business Coalition on HIV AIDS Award for Business Excellence in the Workplace was presented to Standard Chartered for its staff peer education programme, 'Living with HIV'. The award recognises the Bank's comprehensive workplace HIV/AIDS prevention and care programme. The peer based education program was launched in Africa will be introduced to all 29,000 Standard Chartered employees across 50 countries by World AIDS Day, 1st December 2003. The Department of Trade and Industry in the UK has awarded Standard Chartered a 'Big Tick' for its 'Community Partnership for Africa' programme. The award is part of Business in the Community's Awards for Excellence in which Standard Chartered is placed as a finalist for the top award in the International category. The Community Partnership for Africa was set up to support Standard Chartered's sustainable community programs with a focus on youth, health and education. In addition to funding from the bank, the projects are supported by volunteer work from bank staff. The community initiative is supported by an annual Africa wide budget of $1.5 million per annum. Contact: Genevieve Kotta: Genevieve.Kotta@uk.standardchartered.com Tel: +44 207 280 7657 -------------------------------------------------------------------------- 7. Acuity Investment Management Receives The Globe Award for Environmental Excellence http://www.acuityfunds.com ; http://www.theglobeawards.ca Acuity Investment Management was established in 1991 and now manages more than $1 billion in assets on behalf of Acuity Mutual Funds, High Net worth individuals, and institutional investors. The company has been an early leader in the development of innovative financial products that incorporate sustainability criteria into the investment decision process beginning with the launch of the Acuity Clean Environment Mutual funds in 1992. These have grown to be the largest environmentally focused fund family in Canada. In 2000 Acuity built on this early success with the launch of a new family of Mutual funds which focused on investors' interest in applying a broad range of social criteria to the investment decision process. The Acuity Social Values Mutual Funds have further reinforced Acuity's commitment to developing innovative financial products which support environmental and social sustainability. In recognition of its innovations in environmental finance, Acuity recently received the GLOBE Foundation's inaugural capital Markets Award for Sustainable Investment Banking. Sponsored by the GLOBE Foundation and The Globe and Mail, this national annual awards series was launched in 2002 to recognize the contributions of Canadian enterprises to environmental excellence. Martin Grosskopf: martin_grosskopf@acuityfunds.com Tel: +1 416 366 1737 ; ext: 2183 -------------------------------------------------------------------------- EVENT WIRE -------------------------------------------------------------------------- 8.Environmental Banking Seminar July 28 - August 1, 2003 ; Bangkok, Thailand http://www.adfiap.org/cgi-bin/utilities.cgi?state=shownews&id=8 The Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) in cooperation with the United States-Asia Environmental Partnership (US-AEP) and the Industrial Finance Corporation of Thailand (IFCT), is organising a Seminar-Workshop on Enhancing Environmental Governance in Financial Institutions in Asia and the Pacific in Bangkok, Thailand, on July 28 to August 1, 2003. The seminar is part of ADFIAP's "Greening of DFI's" project to ensure that its member-institutions acquire a long-term strategy and know-how in managing environmental risks and problems associated with their lending activities. The project is ADFIAP's collective and responsive effort to: (a) institutionalise in member-banks formal written environmental policies and designate environmental officers approved by their Board of Directors; and (b) equip the member-banks' environmental officers with current trends and experiences in environmental management systems. ADFIAP is an official networking partner for the UNEP FI Tokyo Roundtable. Contact: inquire@adfiap.org -------------------------------------------------------------------------- 9. 'Financing Sustainable Development' Conference organised by Global Knowledge Ventures and the Business Environment Council of Hong Kong September 11, 2003 - Hong Kong, China http://www.enviroseries.com/2003/fsd/index.html Global Knowledge Ventures and the Business Environment Council of Hong Kong are co-organising the "Financing Sustainable Development" conference in Hong Kong on 11th September 2003. This event will pick up on some of the key themes of the World Summit on Sustainable Development and bring the major providers of capital in the region together with leading international environmental and sustainable businesses to create a platform for knowledge exchange and commercial interaction. Specific components of the program will be devoted to profiling and highlighting environmental finance into emerging markets and the growing opportunities and new markets in Hong Kong and China. Presenters include international business leaders, finance and investment experts, and senior government officials. Contact: Peter Castellas: pcastellas@gkv.com.au Tel: +613 9754 1862 -------------------------------------------------------------------------- 10. Ethical Corporation Asia 2003 Managing corporate responsibility in Asia - why it is essential and how to make it pay September 22-23 2003 ; Singapore http://www.ethicalcorp.com/content.asp?ContentID=308 The Ethical Corporation Asia 2003 Conference takes place on September 22-23, 2003 at the Shangri-La Hotel in Singapore. 150-200 senior executives from multinational and large domestic Asian and Western companies will meet to discuss managing corporate citizenship strategy formulation and policy integration into their local and global operations. Featuring high-level speakers from leading-edge companies operating in the region, the event will provide participants with advice and case study examples to take back to their organisations. The aim is to further the adoption and progression of CSR strategy and policy by multinationals and other companies operating in the region. Contact: Peter Carkeek: peter.carkeek@ethicalcorp.com Tel: +44 207 375 7160 -------------------------------------------------------------------------- NEWS -------------------------------------------------------------------------- 11. 'Governance for Corporate Responsibility - The Role of Non-Executive Directors in Environmental, Social and Ethical Issues' The New Discussion Paper from Henderson Global Investors http://www2.henderson.com/regional_uk/governance/index.asp The corporate responsibility and corporate governance agendas are converging as companies recognise the business importance of effective management of environmental, social and ethical issues, and the need for this to be guided by informed and effective boards. Board structures and processes, and the people who bring these to life, are vital in ensuring that strategy in this area is set and monitored appropriately. Henderson's Discussion Paper highlights examples of how companies are addressing these challenges by establishing dedicated board committees and recruiting non-executive directors (NEDs) with specialist skills and experience, and feeding this expertise into their strategy and policy. Henderson welcomes such developments and encourages all companies to review the way they are dealing with these issues at the board level and consider whether taking similar action would be appropriate. Henderson intends to further develop its analysis of the links between corporate governance and corporate responsibility. An important part of this will be to continue and extend their dialogue with Chairmen, NEDs and others involved in board functioning and performance in order to define its policy further. Henderson therefore welcomes all feedback on this paper (that can be accessed by following the above link), which can be sent to the below address. Contact: Rob Lake: rob.lake@henderson.com Tel. +44 207 818 2163 -------------------------------------------------------------------------- 12. Leading Banks Adopt Equator Principles June 4, 2003 ; International Finance Corporation (IFC) http://equatorprinciples.ifc.org/ifcext/equatorprinciples.nsf/Content/corepoints On June 4, 2003 ten leading banks from seven countries announced the adoption of the "Equator Principles," a voluntary set of guidelines developed by the banks for managing social and environmental issues related to the financing of development projects. UNEP is delighted that a significant number of the Equator Principle signatories are UNEP FI supporters and believe that the two initiatives can be supportive and complimentary. The UNEP FI Secretariat are following the Equator Principle developments closely and are briefed regularly by key players involved in the process. The banks adopting the Equator Principles today are ABN AMRO Bank, N.V., Barclays PLC, Citigroup, Inc., Credit Lyonnais, Credit Suisse Group, HVB Group, Rabobank, Royal Bank of Scotland, WestLB AG, and Westpac Banking Corporation. -------------------------------------------------------------------------- 13. U.S. Drops in Country Sustainability Ratings June 26, 2003 ; SocialFunds.com http://www.socialfunds.com/news/article.cgi/article1157.html ; http://www.oekom.de/index_english.html The United States fell eight places in Oekom Research's Country Rating Report this year, mirroring its poor performance on other similar country sustainability ratings. investments when making decisions, and that includes government bonds. A Munich-based research firm, Oekom Research, recently published its latest sustainability rating of developed countries, and the U.S. placed in the bottom 20 percent. U.S. policies such as the "Patriot Act," along with the country's environmental foot-dragging and other factors, prompted Oekom to demote the U.S. from 17th to 25th rank in this year's Country Rating Report. -------------------------------------------------------------------------- END. To unsubscribe: email: LISTSERV@peach.ease.lsoft.com and in the body of the email type "signoff UNEPFI" To subscribe: email: LISTSERV@peach.ease.lsoft.com and in the body of the email type "subscribe UNEP FI" The UNEP FI e-bulletin is a monthly publication of the United Nations Environment Programme Finance Initiatives. United Nations Environment Programme Division of Technology, Industry and Economics Economics and Trade Branch Finance Initiatives Unit Chief Editor: Paul Clements-Hunt Editors: Robert Reid robert.reid@unep.ch Jacob Malthouse malthouj@unep.ch Disclaimer: The views expressed in this publication are not necessarily those of UNEP or UNEP FI, or of its signatories, nor does UNEP FI or its signatories take any responsibility for actions taken as a result of views or opinions expressed in this publication. Copyright 2003 - UNEP FI