Ethical News

Ethical Newsletter 2008

Environmental concerns still of paramount importance to ethical investors.

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Environmental issues key for SLI’s ethical investors

Leading investment house, Standard Life Investments has confirmed that environmental issues continue to top the list of concerns of its ethical investors. The only ethical fund provider to survey its investors on an annual basis and to be guided by investor views in the development of ethical fund criteria, Standard Life Investments found that eight of the top ten issues of concern relate to the environment.

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Ethical Corporate Bond - stock story

We hold bonds issued by the International Finance Facility for Immunisation. The IFFIm is a funding facility designed to accelerate the availability of international funds for health and immunisation programmes through GAVI (Global Alliance for Vaccines and Immunisation). GAVI in turn funds health and immunisation programmes in 70 of the world's poorest countries.

We also hold bonds from BlueOrchard Finance, which promotes investments in projects and enterprises that contribute to the development of micro-entrepreneurship in emerging economies. The company provides assistance to banks and financial intermediaries who wish to invest in the microfinance industry by offering a package of services designed to invest efficiently in this promising sector.

UK Ethical - stock story

A major theme that has resulted from our stock picking strategy, has been investment in a number of stocks related to urban regeneration and social housing construction. Stocks fitting this theme include Bellway, Rok, Workspace and Morgan Sindall. Workspace regenerates urban sites and lets the properties on flexible and affordable terms to small and medium-sized companies around London. Bellway, Morgan Sindall and Rok are all positively exposed to the booming social housing market and benefit from having a local presence nationwide.

European Ethical - stock story

In the European portfolio we have invested in clean electricity companies which should benefit from the long-term drive for clean sources of energy. We have invested in Vestas Wind Systems, which develops, manufactures, sells and maintains power systems that use wind to generate electricity. We are currently holding Austrian hydro-electric company Verbund, which we believe should benefit from rising spot electricity prices in Germany and Austria, as well as potential consolidation within the sector.

Article - A Changing Climate - Julie McDowell

A growing number of companies are announcing plans to reduce their carbon footprints. We examine the factors that will allow investors to evaluate the effectiveness of carbon neutrality and carbon offsetting.

This article first appeared in Global Outlook, Third Quarter 2007.