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PODCAST: Water and Veggie Investing, Cruise Line Greenwashing
Transcript & Links August 2, 2019
Hello, Ron Robins here. Welcome to my podcast Ethical & Sustainable Investing News to Profit By! for August 2, 2019 \\u2013 presented by Investing for the Soul. investingforthesoul.com is your site for vital global ethical and sustainable investing information and resources.
If you hear any terms in this podcast that are unfamiliar to you, just Google them.
Also, you can find a full transcript, live links and often bonus material to these podcasts at their editions\\u2019 podcast page located at investingforthesoul.com/podcasts
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Now many sustainable investors are getting excited about investing in water \\u2014 that is companies and funds engaged with water in some way.
Writing in the New York Times in an article titled, As Fresh Water Grows Scarcer, It Could Become a Good Investment, Tim Gray says, and I quote, \\u201cThe prospect of shortages in the years ahead could make water a precious commodity\\u2026 The United Nations Environment Program has predicted that half the globe\\u2019s population could face severe water stress by 2030. Annual expenditures of $200 billion, up from a historical average of about $40 billion to $45 billion, are needed now to keep spigots running, the U.N. said in a 2016 report.\\u201d End quote.
In his article, Mr. Gray discusses several leading funds in this sector. The first is the AllianzGI Global Water Fund (AWTAX: Nasdaq) which is an actively managed fund that holds companies \\u2013 and quoting the article \\u2013 \\u201c[that provide] products or services to help overcome water scarcity and remedy infrastructure shortcomings\\u2026 Created in 2008, the AllianzGI fund returned an annual average of 9.83 percent over the 10 years that ended in June, compared with 5.37 percent for its average Morningstar peer.\\u201d End quote.
The second fund he writes about is the Calvert Global Water Fund (FWAX: Nasdaq), which is a passively managed index fund that, and I quote, \\u201c[is] divided into four subgroups \\u2014 utilities, infrastructure outfits, technology providers and efficient users like Taiwan Semiconductor\\u2026 The fund returned an annual average of 8.56 percent over the 10 years that ended in June.\\u201d Close quote.
The third series of funds are under the umbrella of Invesco. They have three ETFs: Invesco Water Resources ETF (PHO: Nasdaq) which holds US companies, and for global holdings Invesco Global Water ETF (PIO: American Stock Exchange). Both are based on Nasdaq indexes.
The third fund is the S&P Global Water Index ETF (CGW: NYSE Arca). The Water Resources and Global Water funds, and quoting the article, \\u201c[have] \\u2018more focus on companies developing technology around delivering clean water,\\u2019 while the S&P index fund leans more toward utilities, which make up about half of its assets, said J. Jason Bloom, senior director of Global Macro E.T.F. Strategy at Invesco... The S&P Global Water Index fund returned an annual average of 11.05 percent for the decade that ended in June.\\u201d Close quote.
Mr. Gray mentions two funds other funds First Trust Water ETF (FIW: NYSE Arca) and the Tortoise Global Water ESG Fund (TBLU: BATS Stock Exchange).
Points to consider when investing in water include the possibility of regulatory controls and ethical considerations regarding its pricing \\u2013 especially for poor people. So, though water investing looks attractive, you need to weigh your own ethical values.
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Continuing the water investment theme \\u2013 and this being vacation time for many \\u2013 some listeners might be thinking about cruise lines as an investment. Well, as far as cruise lines go, Tim Nash writing for Corporate Knights throws cold water on two of the leading global cruise line companies.
Mr. Nash\\u2019s article is titled, Tim Nash\\u2019s Sustainable Stock Showdown: Can plastic pledges save troubled cruise lines? In it he reviews Carnival Corporation (CCL: NYSE) and Royal Caribbean Cruises (RCL: NYSE).
Mr. Nash writes that Carnival was in the news recently as it pledged to end the use of all single-use plastics by 2021 and that this came a month after the company was fined $20 million for dumping overboard plastic waste near the Bahamas and prior to that was forced to pay a $40 million fine for illegally dumping oil. So, is Carnival becoming environmentally conscious or is this new gesture just a token event? One wonders\\u2026
Concerning Royal Caribbean, Mr. Nash comments that and I quote, \\u201cRoyal Caribbean has a dashboard of environmental goals for 2020 such as emissions reductions, sustainable sourcing and destination stewardship, but it doesn\\u2019t disclose targets or indicators.\\u201d End quote. My perspective is that without targets and authoritative independent review of them it\\u2019s just greenwashing.
In conclusion, Mr. Nash says, quoting him, that, \\u201cThe reality is both of these companies have leaky sustainability strategies, which could end up costing investors. Carnival Corporation has somewhat better transparency in its reporting but with a high carbon intensity, a poor CEO-to-worker pay ratio and a low tax responsibility, I wouldn\\u2019t blame sustainable investors for jumping ship.\\u201d End quote.
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Most cruise lines are noted for the terrific meals; however, I wonder if any of them are yet offering the Beyond Meat burger! Its stock has been on a tear. It\\u2019s been one of the most amazing IPOs in history with its recent stock price over $200 \\u2013 over eight times its IPO price of May 2! Presently though, it\\u2019s run into some headwinds as company insiders and executives plan to sell stock in a significant secondary stock issue. Some additional treasury stock will be sold too.
Again, the conclusion drawn from Beyond Meat\\u2019s success is the massive interest in meat alternatives which correspond, generally, to the significant rise in veganism and vegetarianism globally. This trend and investments related to it could become a core holding for ethical and sustainable investors.
Among the global food companies best positioned for plant-based food product sales are Unilever (ULVR: London Stock Exchange) and\\xa0Nestl\\xe9 (NESN: Swiss Stock Exchange) this according to UK-based FAIRR, a US$5.3tn-backed investor coalition, says Andy Coyne in an article titled, Unilever, Nestle among best prepared for plant-based future.
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Many of you no doubt visit the Morningstar site for investment and sustainability information. You\\u2019ll be happy to know that Morningstar is improving its sustainability rankings.
Quoting from an article titled, Morningstar Updates Sustainability Ratings, Gabriel Presler writes on their UK site, that, \\u201cThe goal is to provide investors with a greater understanding of how the companies in their portfolios are managing their environmental, social, and governance (ESG) impact compared to their peers. This rating change will allow investors to directly compare companies across industries.\\u201d End quote.
A criticism of mine has long been the need to be able to compare sustainable investing, ESG attributes, etc., across companies in the same or similar industries. So, this change is truly welcome.
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Two other quick bits of potentially useful information.
For Canadian ethical and sustainable investors, Canada\\u2019s revamped Responsible Investing Association website offers some terrific new resources. For instance, not only is it easy to find Canadian licensed responsible investing advisors, but investors can find Canadian mutual funds, ETFs, etc., that reflect their values by using the site\\u2019s new questionnaire feature. Simply go to https://www.riacanada.ca/ri-marketplace/
The second item is yet another warning about the proceeds of green bonds not going where you think they should be going.
In a Financial Times article, titled, Clearer metrics are needed to assess green bond authenticity, Joshua Kendall, a senior ESG analyst at Insight Investment, writes that \\u201cImagine lending money to a company to invest in green projects \\u2013 and that group then using the proceeds to pay off other debt. That money has no discernible environmental impact and there is nothing you can do: it is all in the contract\\u2026 Only a third of green bonds issued in the past three years met our three-stage criteria for sustainable issuance. This leads us to question the \\u2018green bond\\u2019 label and, more generally, it could undermine the authenticity of dedicated green bond funds.\\u201d Close quote.
The conclusion? Before investing in green bonds or green bond funds be very clear about what they\\u2019re investing in really does meet with your expectations!
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So, these are my top recent news stories and tips for ethical and sustainable investors.
Again, to get all the links or to read the transcript of this podcast and sometimes get additional information too, please go to investingforthesoul.com/podcasts and scroll down for this edition.
And be sure to click the like and subscribe buttons in iTunes/Apple Podcasts or wherever you download or listen to this podcast and please click the share buttons to share this podcast with your friends and family. That way you can help promote not only this podcast but ethical and sustainable investing globally.
And remember, I\\u2019m here to help you grow in your investment success \\u2013 and investing in opportunities that reflect your personal values!
Please don\\u2019t hesitate to contact me if you have any questions about the content of this podcast or anything else investment-related. I can\\u2019t say I\\u2019ll have all the answers for you and some answers I can\\u2019t give due to licensing restrictions. But where I can help I will.
Now, a big thank you for listening.
Come again! My next podcast is August 16. So, bye for now.
\\xa9 2019 Ron Robins, Investing for the Soul.
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(Note: my next podcast is August 2.) Kellogg has the most successful vegie burger, pressure begins for IPO. More ESG stock, fund, and portfolio tips. Abandon GE, buy Schneider Electric, says Tim Nash in his stock challenge. Pot companies plan to adopt ESG as they strive to be seen as responsible, ethical, and sustainable investments.
PODCAST: Kellogg\\u2019s \\u2018Beyond Meat,\\u2019 ESG Stock Tips, Ethical Pot Companies
Transcript & Links July 5, 2019
Hello, Ron Robins here. Welcome to my podcast Ethical & Sustainable Investing News to Profit By! for July 5, 2019\\u2014presented by Investing for the Soul. investingforthesoul.com is your site for vital global ethical and sustainable investing information and resources. Please note that due to holidays my next podcast will be on August 2.
Now to this podcast. And, Google any terms that are unfamiliar to you.
Also, you can find a full transcript, live links and bonus material to this podcast at this edition\'s podcast page located at investingforthesoul.com/podcasts
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Hey, about the continuing saga of Beyond Meat. Its stock as of this writing is still holding well over $150 s share.
Well, it seems that Brett Arends writing in MarketWatch has found that Kellogg has its own successful Beyond Meat competitor under the guise of its subsidiary MorningStar Farms -- and it\\u2019s going under the radar of everyone!
In an article titled, Kellogg is sitting on a \\u2018fake meat\\u2019 gold mine bigger than Beyond Meat, Brett argues that Kellogg, whose stock price has been struggling for years, should take MorningStar Farms public and might well become even more valuable than Beyond Meat.
Quoting Brett, he says, that, \\u201cKellogg already owns the largest single \\u2018fake meat\\u2019 operation in the country in MorningStar Farms, a brand that has been around since the 1970s. [and he says] Where\\u2019s its IPO?\\u201d
Continuing, Brett states, that, \\u201cI tried MorningStar\\u2019s \\u2018Grillers\\u2019 vegetarian burgers not long ago, on the recommendation of some friends. Frankly, I found them way better than Beyond Meat\\u2019s \\u2018Beyond Burgers\\u2019 and not obviously worse than the so-called \\u2018Impossible Burger\\u2019 that people are raving about. Close quote.
Brett says that Kellogg won\\u2019t break out the annual sales figures for MorningStar Farms\\u2014though he believes they could be around $450 million and that compares with $290 million for Beyond Meat\\u2019s 2019 sales estimate!
So, will Kellogg spin-off MorningStar Farms and do an IPO? Who knows but Sustainalytics gives Kellogg an ESG rating of 65\\u2014putting it in the 81st percentile of its peers and Reuters says analysts following the stock presently rate it as a hold. So, something you might consider.
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Barron\\u2019s the US investment daily paper recently published a piece by Karen Hube titled, How to Build Your Own ESG Portfolio. She says all the right things, such as the following, quoting her, "By putting your savings in funds that assess how a company is addressing (or worsening) environmental, social, and governance, or ESG, factors, you hitch your investments to good corporate citizens, and may earn above-average returns. But turning the concept into a practical investment portfolio without compromising on investing mandates such as diversification and due diligence comes with a unique set of challenges." End quote
So, some great points are made in her article, but her portfolio appears overly diversified to me. Statistically, having more than fifteen stocks in diversified industries across regions will give you very little extra statistical benefit. Also, no-doubt it\'ll include sectors and companies that won\'t please you!
Along similar lines, John Eade of Argus Research Group published their sustainable stock recommendations in a post, An Argus Research Portfolio for Sustainable Impact Stocks which appeared in Money Show. John likes: Alphabet Inc. (GOOGL: OQ), Ecolab Inc. (ECL: NYSE), Johnson & Johnson (JNJ: NYSE), JPMorgan Chase & Co. (JPM: NYSE), McDonald\\u2019s Corp. (MCD: NYSE), Microsoft Corp. (MSFT: N), Norfolk Southern Corp. (NSC: NYSE) and a few more that you can see by clicking the link in the transcript for this podcast.
Again, if you have or are interested in creating a portfolio of profitable individual stocks that reflect your values, learn how to do it properly and systematically in my one-hour DIY Ethical-Sustainable Investing Pays Tutorial. Take a few seconds to check it out! Go to investingforthesoul.com/podcasts and look down the right-hand sidebar.
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In speaking of portfolio diversification, heavy industry is not a sector that as an ethical and sustainable investor you might consider. Nonetheless, you can\\u2019t escape the necessity for it in our society and it can have a place in your portfolio too. So, in Tim Nash\\u2019s sustainable stock showdown pulls plug on GE, he compares General Electric (GE: NYSE) with Schneider Electric (SGBSY: OTC).
GE has been in the doldrums for several years. Tim says about GE, that, \\u201cGE was a great investment throughout the 20th century, but lacking a clear forward-looking strategy to transition into a low-carbon future, it\\u2019s no wonder that sustainable investors are turning out the lights on GE shares.\\u201d End quote
Concerning Schneider Electric, Tim says, that, \\u201cSchneider Electric is a French energy management company making hardware and software that helps companies improve their energy efficiency\\u2026 Schneider Electric at #60 on the 2019 Corporate Knights Global 100 Most Sustainable Corporations in the World list, and #13 on the 2019 Corporate Knights and As You Sow Clean200 list.\\u201d
Finally, he says, \\u201cIf you want to keep the lights on sustainably in the 2000s, forget GE. Schneider Electric is a better investment.\\u201d
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Yet another new low-cost ESG ETF has been launched. It\\u2019s the Xtrackers S&P 500 ESG ETF (NYSE: SNPE). What\\u2019s special about this ESG ETF is that it tracks the new S&P 500 ESG Index. According to Todd Shriber at Benzinga in a post, Another Cheap ESG ETF is Here, Todd writes, that, the \\u201cS&P Dow Jones launched the index earlier this year and its approach to ESG investing is traditional in that it excludes tobacco companies, civilian firearms manufacturers and companies with low scores based on the United Nations Global Compact for responsible business\\u2026
Continuing the quote, Todd says that, \\u201cThe new SNPE allocates over 27% of its weight to the technology sector and a combined 28.23% of its weight to the health care and consumer discretionary sectors. SNPE is home to 319 stocks. The financial services and industrial sectors combine for over 20% of the fund\'s weight.\\u201d
Now earlier I brought up the subject of over-diversification and here I\\u2019m concerned that like most other general ESG ETFs they tend to under diversify into a few key sectors\\u2014and so, for instance, when tech, health care, and financials do well, they thrive. Since these sectors have done so well in the past decade, portfolios that are heavily weighted in those sectors have generally outperformed.
However, with trade frictions, anti-monopolistic sentiments and governments potentially further regulating health care costs and privacy concerns coming to the fore, it\\u2019s possible that stock market leadership might rotate to other market sectors.
From another perspective that also relates in a way to diversification, is a protestation by James Gard in a Morningstar UK article. In it, he argues to be a little \\u2018looser\\u2019 in not being too strict in only including top ESG rated companies in your portfolio. His article is titled, Should ESG Funds Buy "Bad" Companies? James makes a point that, quote, \\u201cInvestors who shun such firms may miss out if these efforts pay off in the long-term.\\u201d
James further quotes Jon Hale, also of Morningstar, as follows, \\u201cWouldn\'t another investor come along to take the place of the \\u2018responsible\\u2019 investor? And if enough investors shun a company\'s stock, it could become undervalued and end up outperforming for those who don\'t have any problem investing in it.\\u201d And by the time that happens, that poor performing ESG stock could become a leading ESG stock with great stock price gains that you would\\u2019ve missed out on. So that\\u2019s the argument for loosening your ESG stock screening.
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Incidentally, terrific price gains have been made with pot stocks in recent years. But can they be worthy investments for ethical and sustainable investors? That\\u2019s a complicated question. Besides the personal values issues for you, you might\\u2019ve wondered if pot companies can do well with ESG issues?
Well, the pot industry is aiming to create its own ESG standards. Kristine Owram, writing in a Bloomberg article titled, Pot Firms Seek to Transition From Sin Stocks to Ethical Darlings, says, that, and I quote, "A group of 45 companies operating in the cannabis industry has crafted a set of standards that they hope could one day transform them from sin stocks into ESG darlings."
This will be fascinating to watch! Can pot companies be sold as health producing ESG focused entities to institutional investors? For a great review of the pot industry from an ESG perspective see the Sustainalytics post and report, ESG Risks of Cannabis Cultivation: Energy, Emissions and Pesticides.
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So, these are my top news stories and tips for ethical and sustainable investors over the past two weeks.
Again, to get all the links or to read the transcript of this podcast and sometimes get additional information too, please go to investingforthesoul.com/podcasts and scroll down for this edition.
And be sure to click the like and subscribe buttons in iTunes or wherever you listen to this podcast. That way you can help promote not only this podcast but ethical and sustainable investing globally.
And remember, I\\u2019m here to help you grow in your investment success\\u2014and investing in opportunities that reflect your personal values!
Please don\\u2019t hesitate to contact me if you have any questions about the content of this podcast or anything else investment related. I can\\u2019t say I\\u2019ll have all the answers for you and some answers I can\\u2019t give due to licensing restrictions. But where I can help I will.
Now, a big thank you for listening\\u2014and please click the share buttons to share this podcast with your friends and family.
Come again! And as I mentioned, my next podcast is scheduled for August 2. Yes, I\\u2019m taking a break. Talk to you then. Bye for now.
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My podcasts are planned every two weeks beginning March 16, 2019. This edition -- actually published February 26 -- is to test and obtain feedback from listeners on all aspects of its content and production. However, this podcast also contains great content! Included is a full transcript and links to all news covered and more!
Podcast notes November 23, 2018
For links to all the news I\\u2019m covering today, go to my Investing for the Soul homepage.
If any terms are unfamiliar to you, a good source for their definition is INVESTOPEDIA and scroll down to the very bottom to see their A-Z dictionary
News
1) Green finance: a contrarian take, by Thomas Hale, November 15, 2018, FT Advisor, UK.
"Renaissance\\u2019s argument thereafter is that, even if emerging markets have far lower ESG scores, directing capital their way allows for the highest overall rate of improvement, and so the greatest ethical utility. This is, unsurprisingly, an argument for more investment in EM."
Points:
1) The argument presented here by Renaissance Capital, a Russian investment bank, is equivalent to the idea of investing in companies who are just beginning to engage in ESG seriously so as to take advantage of their possible rapid stock price as they\'re identified as a potential \'high\' ESG company. As it\'s recognized by many investors that high ESG scoring companies also now have a premium to their stock prices.
2) Renaissance produces a wonderful graph showing how high GDP per capita is highly correlated to high ESG country scores.
3) Another quote, \\u201cAs a side note, the report finds \\u2018virtually zero correlation\\u2019 between ESG scores and sovereign bond pricing after adjusting for per capita GDP.)
Again, the argument here is that going for up and coming ESG performers in emerging countries could be a great bet for stock or bond outperformance.
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2) From upstream to mainstream: ESG at a tipping point, November 15, 2018, by IN Research and Calvert, Investment News, USA.
"In a year\'s time, the percentage of Millennials expressing a high level of interest in ESG investing jumped from 26% to 35%, advisers say, while the percentage of Gen Xers embracing ESG spiked from 16% to 25%.
This is more than a generational story, however... Twenty-six percent of ultra-high-net-worth investors now show a high level of interest in ESG investing, advisers say, up from only 10% in 2017. Similarly, interest among very-high net worth investors shot from 13% to 19% in a year\'s time."
Points:
1) These results are from a US survey of 300 advisors. The jump in numbers over just one-year is impressive. Demonstrates just how fast ESG is being accepted.
2) Somewhat interesting is that its regular advisors reporting the rapid growth. Generally, advisors have been \\u2018behind the curve\\u2019 regarding their positivity concerning sustainable, ESG and ethical investing. Now many are hurrying to get familiar with it!
3) Calvert, a well-known and respected ethical investing mutual fund manager was involved too. Not sure if this fact had a relevance to the conduct and results of the survey. Knowing Calvert, probably not.
4) You can download the full report here.
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3) Are ESG Ratings the New Credit Rating for Stock Prices? By Ginger Szala, November 19, 2018, ThinkAdvisor, USA. "A new MSCI study of ESG ratings finds they have a similar impact on share prices as do credit ratings."
Points:
1) Though to me the findings are unsurprising, it is the first study to demonstrate that ESG ratings have a similar impact to credit ratings on a company\'s stock price.
This finding will no doubt be challenged, but comes at a time when investors everywhere are looking at the inclusion of ESG criteria in their investment research. It bodes well for the mainstreaming of ESG!
2) Many credit ratings\\u2019 agencies such as S&P, Moody\\u2019s and Fitch have long been criticized for potential significant conflicts of interest and bias. They take clients\\u2019 funds to provide new issue ratings and have historically slow to act to in changing their ratings, particularly negatively, to new circumstances!
So, since ESG ratings\\u2019 companies like Sustainalytics, MSCI, RobecoSAM, etc., don\\u2019t take funds for their corporate ratings\\u2014as far as I know\\u2014they may well be even a greater indicator of corporate \\u2018safety\\u2019 than the credit ratings\\u2019 agencies!
3) You can download the MSCI study here.
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4) Companies Leading on Disability Inclusion Outperform Peers, by Megan Amrich, November 20, 2018, TriplePundit, USA. "Accenture, in partnership with Disability:IN and the American Association of People with Disabilities (AAPD), has released \'Getting to Equal: The Disability Inclusion Advantage.\' This report looks at both the disability practices and financial performance of 140 companies over the past four years... Companies that \'embrace best practices for employing and supporting more people with disabilities in their workforces\' are several times more likely to outperform their peers financially."
Points:
1)\\xa0This is a pioneering and worthy study. It might also be true that employees with disabilities feel they have to prove themselves and so are more productive. Hence, forward-looking companies know this and so increasingly employ individuals with disabilities? Thus, such employment is not always out of charity.
2) One has to wonder too, however, is that highly profitable companies feel they are able to hire more persons with disability because of the high profits?
3) Are such companies also aiming to create even higher reputation in the communities they serve?
Subject: \\xa0What are the best ESG-Sustainable-Ethical indices?
The range of indices is immense today. When I began to follow these around 2001, there were a handful globally, and mostly unknown. Today, it\\u2019s extraordinary the number of them and what they cover.
The idea of these indices are that they can act as benchmarks for you to assess your own performance. Furthermore, there are numerous mutual funds and ETFs that you can be purchased that are based on them.
For a good listing of them go to my page, Ethical Investing Stock and Bond Indices.
Here are my favourites though.
Equities
Dow Jones Sustainability Index
One of the oldest index families and an ethical investor\\u2019s favourite.
\\u201cThe family was launched in 1999 as the first global sustainability benchmark and tracks the stock performance of the world\'s leading companies in terms of economic, environmental and social criteria.\\u201d The DJSI data is compiled and analyzed by the Swiss organization RobecoSAM. They review some 10,000 companies!\\u201d
Fossil Free Indexes(Global) "The Fossil Free Indexes are a suite of benchmarks designed for investable products that provide broad market exposure to index investors who wish to divest from fossil fuel companies. These investors are typically motivated either by a concern about unacceptable levels of climate change or by a concern about overvaluation and risk in the sector." These indices are capitalization weighted, meaning that larger companies have a bigger influence in the index; smaller companies a smaller weight.
FTSE4Good Index Series and FTSE Smart Sustainability Index Series(Global) "The FTSE4Good Index Series is designed to measure the performance of companies demonstrating strong Environmental, Social and Governance (ESG) practices. Transparent management and clearly-defined ESG criteria make FTSE4Good indices suitable tools to be used by a wide variety of market participants when creating or assessing responsible investment products."
FTSE Russell Green Revenues Index Series(Global) "FTSE Russell\\u2019s Green Revenues (LCE) data model and Green Revenues Index Series track companies that generate green revenues \\u2013 a critical component missing from current sustainability models. Now, investors can accurately identify and support their investment in companies that stand to benefit from the world\\u2019s transition to a green economy with consistent, transparent data and indexes." I really like the concept of this index with it\\u2019s scoring based on green revenues! That means industries such as tobacco, won\\u2019t score highly, whereas in other ESG-sustainable-ethical indices, they could!
MSCI ESG Indices(Global) "With 40 years of expertise in index construction and maintenance, MSCI aims to set new standards for ESG indices \\u2013 allowing clients to more effectively benchmark ESG investment performance, issue index-based ESG investment products, as well as to manage, measure and report on their compliance with ESG mandates."
NASDAQ Green Economy Indices What I like about these are that there\\u2019re separate indices for various types of alternative energy sectors, such as solar and wind plus indices focusing on water services and products.
(Global) "NASDAQ OMX offers a complete family of indexes tracking the growing environmental and clean-energy sector, also known as the \'Green Economy.\' Green Economy is the shift of economic development towards sustainable practices in business and infrastructure..."
S&P Dow Jones ESG Indices
They truly offer something for almost any sustainable-ethically oriented investor!
Canada\\u2014Equities
Jantzi Social Index(JSI)
I\\u2019ve known Michael Jantzi, whose firm established this index, since the 1990s. He is head of and founded, Sustainalytics, one of the world\\u2019s leading ESG ratings\\u2019 agencies.
(Canada) "In January 2000, Jantzi Research launched the Jantzi Social Index\\xae, partnered with Dow Jones Indexes. The JSI, a socially screened, market capitalization-weighted common stock index modeled on the S&P/TSX 60 consists of 60 Canadian companies that pass a set of broadly based environmental, social, and governance rating criteria. The JSI has begun to generate the first definitive data on the effects of social screening on financial performance in Canada."
Bonds
S&P ESG Sovereign Bond index family
\\u201cThe S&P ESG Sovereign Bond Index family offers investors exposure to the same sovereign bonds as standard cap-weighted sovereign bond indices but tilts the country weights towards more sustainable countries, based on RobecoSAM\\u2019s\\u201d
\\xa9 2019 Ron Robins, Investing for the Soul. All rights reserved.
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