While U.S. policymakers are running in place on climate change, global investors are moving quickly to make money from its far-reaching risks and opportunities. One Wall Street firm is calling climate change the "next global mega-trend," after the opening of the Iron Curtain and the Internet revolution. Despite losses from the subprime debacle, European and U.S. investment firms are ramping up their global warming research, trading desks, investments strategies and capital.

Read Mindy Lubber’s blog entry on Harvard Business Review’s "Leading Green" blog. 

Group says 116,000 jobs at stake in solar and wind power industries alone

July 29, 2008

WASHINGTON DC — A group of 43 investors managing over $1.5 trillion in assets called on the U.S. Senate today to extend tax credits for renewable energy and energy efficiency projects by at least five years to 2013. The tax credits are set to expire at the end of this year.  Investors sent the letter to Senate Majority Leader Harry Reid and Senate Minority Leader Mitch McConnell in advance of expected Senate debate on the topic this week.

Click here to read more.

Real estate services firm aims to bring energy efficiency, other ‘green’ features to powerful client list

July 28, 2008

BOSTON – Citing the company’s commitment to lead the real estate industry on environmental sustainability and energy efficiency, the Ceres board of directors has approved Jones Lang LaSalle, a financial and professional services firm specializing in real estate services and investment management, as a Ceres network company.  Jones Lang LaSalle is the first real estate-sector firm among more than 70 companies to join Ceres, a leading coalition of investors, environmental groups and public interest organizations working with companies to address sustainability challenges.

Click here to read more.

Episode 6 – July 22, 2008

Do Ask, Do Tell: Mandatory Climate Disclosure and the SEC
The New York City Bar Association’s Environmental Law Committee Environmental Law Interview with Ceres staffer Anne Kelly, Director of Ceres Corporate Governance Program

Corporate disclosure of risks and liabilities is something that helps investors make informed decisions about where they put their money. A handful of institutional investors, including CalPERS, CalSTRS, the New York State Comptroller and the Florida State Board of Administration, among others, filed a petition alongside Ceres and the Environmental Defense Fund last September (2007) requesting that the Securities and Exchange Commission (SEC) require companies to disclose risks to their businesses from climate change. The general idea is that once a risk is analyzed and disclosed, that risk will eventually get managed. The SEC petition was recently updated this June (2008).

This podcast is a "repodcast" of an interview done by the New York City Bar Association’s Environmental Law Committee Environmental Law Interview with Ceres staffer Anne Kelly, Director of Ceres Corporate Governance Program, on the original SEC petition.

Click here to listen to this episode, or visit www.ceres.org/podcast.

The Ceres Sustainability Podcast is an ongoing conversation with investors, corporations, policy makers and public interest groups about how they are adapting business strategies and financial markets to address the risks and opportunities of climate change and other sustainability issues.

Check out www.ceres.org/podcast every few weeks for new episodes, or subscribe to our podcast using the links below.  

Following repeated calls by investors for the SEC to issue guidance for publicly-traded companies to assess and fully disclose their financial risks from climate change, the Senate Appropriations Committee has approved language in the Financial Services Appropriations bill calling on the SEC to issue such guidance. Click here to read more.

Ceres President Mindy Lubber talks about what the financial sector is doing to tackle climate change. Click here to watch the interview.

To receive the Ceres Newsletter via email, click here to sign up.

Hot Off the Press

The Economist Debate: "Without outside pressure, corporations will not take meaningful action on sustainability."
That is the proposition being debated this week on Economist.com. Ceres President Mindy Lubber takes on Bjorn Stigson, President of the World Business Council for Sustainable Development, to debate the role that outside players have on corporations’ sustainability strategies. You can read the online debate, add your own comments and vote for the argument you support by clicking here.

The debate wraps up at the end of the week so be sure to read the arguments and cast your vote soon!

Ceres Addresses United Nations General Assembly
On June 9, Ceres President Mindy Lubber delivered the keynote address at a special session of the United Nations General Assembly for a program on “Global Private Investments and Climate Change.” Watch the UN webcast. (requires RealPlayer)
Read the speech

Investors, Environmental Groups Push the SEC to Require Full Corporate Climate Risk Disclosure
On June 12, a broad coalition of investors and major environmental groups repeated their call to the U.S. Securities and Exchange Commission (SEC) to address the obligations of publicly-traded companies to fully disclose the material financial opportunities and risks from climate change. More

Van Jones and Lance Lindblom talk with the Ceres Sustainability Podcast Team
Ceres recently caught up with with Van Jones, Founder and President of Green for All, about how new technology and energy solutions to the climate crisis can also help solve urban poverty, unemployment, and inequality among America’s workforce.

Ceres also spoke with Lance Lindblom of the Nathan Cummings Foundation about shareholder resolutions and their impact on corporate governance and sustainability practices.

You can listen to these new episodes by visiting www.ceres.org/podcast. While you are there, sign up to receive future podcasts as soon as they are released.

Global Reporting Initiative (GRI) 2008 Conference
Ceres President Mindy Lubber participated in the GRI 2008 Conference in May as a speaker in the "Financial Market Views on Sustainability Reporting Today" debate. Other speakers included Connecticut State Treasurer Denise Nappier, James Gifford of Principles for Responsible Investment, Rachel Kyte of International Finance Corporation, and Andrew Howard of Goldman Sachs International. Florida Chief Financial Officer Alex Sink also attended and spoke on the BBC World Debate on "How Accountable is Business?" Watch the debate

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Network Highlights

Innovative Technology Can Help Address Climate Change
This month, Ceres President Mindy Lubber contributed to Microsoft’s Environment website with an article about innovative technology solutions — from the personal desktops to the massive server farms –  that can increase our energy efficiency and lighten our carbon footprint. More

New Ceres Companies
Citing their commitment to improving their social and environmental performance and reporting, Ceres today announced that it has approved four new companies – Brighter Planet, Carbon Credit Corporation, Cone, and credit360.  The newly approved companies are among 80 companies, including over 25 Fortune 500 companies, to be accepted by the Ceres board of directors into the Ceres network.  More 

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Upcoming Events

U.S. Green Building Council’s GreenBuild International Conference
November 19-21, 2008 | Boston, MA
Buildings play a critical role in protecting and improving our environment and the health of the people who occupy them. USGBC’s GreenBuild Conference and Expo is an unparalleled opportunity to connect with other green building peers, industry experts, and influential leaders as they share insights on the green building movement and its diverse specialties.
 
Ceres is a GreenBuild Boston Bioregional Partner. Join us at the U.S. Green Building Council’s Greenbuild International Conference and Expo in Boston November 19-21, 2008. For more information about the event, visit www.greenbuildexpo.org.

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News Highlights

• San Francisco Business Times on 06/09/08:  Pension funds throw green weight around (pdf)
• Christian Science Monitor on 06/02/08: If the U.S. Regulates Carbon Emissions, Would Your Portfolio Take A Hit? 
• The Guardian on 05/25/08:Green business boom is set to face trial by economic downturn
• Environmental Leader on 05/24/08: Supply Chain in Spotlight at Ceres Conference
• Environmental Leader on 05/22/08: Big Investors Call On U.S. Congress To Tackle Climate Issues

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Episode 5 – June 23, 2008

Green Power: Building a Green Workforce to Support a Green Economy
An Interview with Van Jones, President of Green for All and director of the Ella Baker Center for Human Rights
It seems everyone is ‘going green’ these days — from green investing to green marketing to green consumerism. There’s no doubt that we must transition to a cleaner, greener economy if we want to avoid the worst effects of climate change.  But as alternative energies and clean technologies become more popular and prevalent in society, we’re going to need a new workforce to build, maintain, and support this new economy. Where will this new workforce come from? And how do we ensure that we have the labor and skills needed to support a new energy future powered by clean technologies?

Ceres recently caught up with Van Jones, President of Green for All and director of the Ella Baker Center for Human Rights, to discuss how new technology and energy solutions to the climate crisis can also help solve urban poverty, unemployment, and inequality in America’s workforce.

Click here to listen to this episode. Or visit www.ceres.org/podcast.

For more information about building an inclusive green economy, visit www.greenforall.org.

The Ceres Sustainability Podcast is an ongoing conversation with investors, corporations, policy makers and public interest groups about how they are adapting business strategies and financial markets to address the risks and opportunities of climate change and other sustainability issues.

Check out www.ceres.org/podcast every few weeks for new episodes, or subscribe to our podcast using the links below.  

A broad coalition of investors and major environmental groups today repeated their call to the U.S. Securities and Exchange Commission (SEC) to address the obligations of publicly-traded companies to assess and fully disclose the material economic opportunities and risks from climate change. More

Mindy Lubber of Ceres and Bjorg Stigson of the World Business Council on Sustainable Development debate the role of external pressure on corporate sustainability practices in this week’s Economist online debate.

Join the debate and cast your vote online.

Ceres President Mindy Lubber delivered the keynote address on June 9, 2008 at a special session of the United Nations General Assembly for a program on “Global Private Investments and Climate Change.”

Watch the webcast (requires RealPlayer) 

Read her full speech

To listen to previous episodes and subscribe to the Ceres Sustainability Podcast, visit www.ceres.org/podcast.

Episode 4 – May 29, 2008

Viva la Resolution: Shareholders’ Role in Corporate Governance and Climate Change
An interview with Lance Lindblom, President and CEO of the Nathan Cummings Foundation

A growing movement of investors are pressing companies to provide more information about "off-balance" sheet issues, such as the impacts of climate change to the corporate bottom-line. Instead of just screening portfolios, or divesting stock, more and more investors in the Socially Responsible Investing (SRI) community are exercising their proxy power by filing and voting on shareholder resolutions that seek to improve corporate governance and sustainability practices while ensuring profits.

Lance Lindblom is President of the Nathan Cummings Foundation (NCF) and a leader in the SRI movement. Lindblom talks to Ceres about how NCF leverages their $500 million foundation endowment to improve corporate accountability.

To listen to this episode, click the play button on the gray bar below.

To listen to previous episodes and subscribe to the Ceres Sustainability Podcast, visit www.ceres.org/podcast.

[Music: Calexico, "Fake Fur" from The Black Light (Quarterstick, 1998) and Brian Eno, "The Big Ship" from Another Green World (E.G. Records, 1975)]

WASHINGTON, DC //May 20, 2008// More than 50 leading investors, including the nation’s largest public pension fund and the world’s largest listed hedge fund, today called on the U.S. Senate to enact strong federal legislation to curb the pollution causing global warming. In advance of the upcoming Senate debate on the Lieberman-Warner climate bill early next month, the group issued a letter today to Senate Majority Leader Harry Reid and Senate Minority Leader Mitch McConnell, calling for a national climate policy to reduce U.S. greenhouse gas emissions by at least 60 to 90 percent below 1990 levels by 2050. The request is similar to reductions that would be achieved under the Lieberman-Warner bill.

The group of investors, organized by Ceres and the Investor Network on Climate Risk (INCR), announced the investor letter at a climate change conference today at the U.S. Chamber of Commerce in Washington. The 52 signers include institutional investors, asset managers, treasurers and controllers such as the California Public Employees’ Retirement System (CalPERS), Deutsche Asset Management, F&C Asset Management, the Man Group (the world’s largest hedge fund), and treasurers and controllers for California, Connecticut, Maryland, New York City, New York, North Carolina, Oregon, Pennsylvania, Rhode Island and Vermont. Read more

Download letter sent to Congress: 2008 INCR Climate Policy Letter

Listen to the Press Conference held May 20, 2008 at 10 AM EDT

On May 7, 2008, Ceres and the Heinz Center announced the launch of the Resilient Coasts Initiative, a first-of-its-kind collaboration of private and public sector groups to find public policy and private market solutions to better protect coastal communities from rising sea levels and other potentially damaging consequences of climate change. More

The mutual fund industry’s previously icy attitude toward climate change shareholder resolutions is beginning to thaw as Wall Street starts to recognize the financial risks and opportunities of global climate change, according to a new Ceres report announced today analyzing the voting records of 1,285 funds of 62 leading mutual fund firms.

The report evaluates CO2 pollution data from the nation’s 100 largest electric power companies, providing a first-of-its-kind analysis of the projected financial implications consumers and power companies would see from different carbon allowance scenarios in two existing Senate bills: the Lieberman-Warner Climate Security Act and the Bingaman-Specter Low Carbon Economy Act. The electric power sector accounts for about 40 percent of the nation’s CO2 emissions. The report was released by the Ceres investor coalition, the Natural Resources Defense Council and two power companies, PG&E and PSEG. More

Dell’s ReGeneration blog recently caught up with Ceres president Mindy Lubber about the ever-changing face of the environmental movement, the role businesses and consumers can play and Ceres’ unique position to partner with them to improve the planet. More