Features, May 2000 FUND MANAGEMENT PENSION SECTOR SHOWS GREEN TINGE July sees the introduction of rules stating that UK pension funds state their socially responsible investment (SRI) policies. Mark Nicholls finds few headline-making converts to the SRI cause, but discovers that beneath the surface attitudes in the City - and amongst fund trustees - are beginning to change. More... CLIMATE CHANGE INSURERS CAN KICK START KYOTO Where is the insurance industry in the Kyoto process? Stephanie Dunstan argues that without the insurers - who potentially have an enormous amount to lose from climate change - the Protocol stands little chance of being implemented. More... HOW I SEE IT SO2 MARKET EXCEEDS EXPECTATIONS Richard Sandor reports on the results of the annual auction of sulphur dioxide emissions permits by the US Environmental Protection Agency, and argues that the designers of a carbon trading market should emulate this successful programme. EMISSIONS TRADING CANADA CONSULTS ON CARBON TRADING Despite the enthusiastic take-up of voluntary programmes by Canadian companies, and their ground-breaking forays into international trading, Mark Nicholls finds that government caution on its carbon policy is discouraging industry from moving faster. CLIMATE CHANGE WHY CONVERGENCE AND CONTRACTION ARE KEY Aubrey Meyer and Tony Cooper of the Global Commons Institute argue for the adoption of 'contraction and convergence' in any international carbon treaty - a concept that would offer a just distribution of carbon emissions between North and South, and would utilise international trading to pass the economic benefits of low-carbon development to the developing world. WEATHER RISK WEATHER HEDGING - INSURANCE OR DERIVATIVES? Companies have a choice when it comes to buying a hedge against adverse weather conditions - insurance contracts, or derivative structures. Koch's John Polasek sets out the relative merits of the two approaches. ENVIRONMENTAL DISCLOSURE THE RISE OF REPORTING In the first of a regular series of articles on environmental disclosure, Paul Scott of Next Step Consulting looks at how environmental reporting has grown over the last twenty years. MARKET VIEW ROADBLOCKS TO AN OPTIMAL TRADING SYSTEM Gary Hart, of Southern Energy, warns that the highly success sulphur dioxide permit market in the US is under threat - from the misdirection of financial benefits, flawed tax policies, and local or regional restrictions on trading. PROFILE THE DOMINI EFFECT An interview with Amy Domini, the woman behind the world's largest SRI fund, the Domini Social Equity Fund. FOR THE FULL STORY EVERY MONTH, SUBSCRIBE TO ENVIRONMENTAL FINANCE, OR CONTACT info@environmental-finance.com FOR OUR BACK ISSUES SERVICE