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FTSE, HSBC chosen by New York pension fund for green investments
01 September 2009The New York State Common Retirement Fund (CRF) is to invest $100 million each against the FTSE Environmental Technology 50 and the HSBC Global Climate Change Index, as the first investments under its planned $500 million 'Green Strategic Investment Program' (GSIP).
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Five firms ejected from PRI
01 September 2009Five financial institutions have been delisted from the Principles for Responsible Investment (PRI) initiative after failing to file an annual report on how they are integrating environmental, social and corporate governance issues into their investment processes. Meanwhile, one of the largest US pension funds has voluntarily left the UN-backed initiative.
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Chinese PE fund targets $350m
01 September 2009Chinese private equity firm Nature Elements Capital is hoping to raise $350 million into US dollar and yuan-denominated funds over the next two years to invest in clean energy projects and companies.
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Cheviot eyes October launch for climate fund
01 September 2009UK-based Cheviot Asset Management is hoping to launch a sustainability-orientated investment fund in October with £20 million ($32 million) in commitments, according to its recently appointed portfolio manager Claudia Quiroz (see People, page 14).
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CCC to manage Russell equity fund
01 September 2009US-based Russell Investments has launched an equity fund that aims to outperform by "investing in a manager that takes high-conviction active positions in companies that are affected by climate change".
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Investors' votes add climate pressure on companies
27 August 2009Activist shareholders are seeing growing support from investors in US and Canadian companies for climate change-related resolutions, according to Ceres. One such climate vote at Idacorp, an Idaho-based utility, was the first time an environmental shareholder resolution has passed in 30 years, Ceres said.
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Sugar-to-biofuels firm Amyris raises $25m
26 August 2009California's Amyris Biotechnologies has raised $24.7m to pursue development of its technology to convert sugar cane into biofuels and useful chemicals.
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Norway sovereign fund to focus on water risk
20 August 2009Norway's $394 billion sovereign wealth fund has identified water supply as a risk to 11% of its portfolio – adding the issue to climate change and a number of social concerns on which it will pressure the companies in which it invests.
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WM signs landmark deal for Chinese solid waste firm
13 August 2009Waste Management (WM) will pursue waste-to-energy opportunities in China following its $140 million acquisition of a stake in Shanghai Environment Group (SEG) last week, believed to the single largest foreign investment in China's solid waste management sector.
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Mercer to study green investments for hedge fund giant
13 August 2009Leading hedge fund GLG Partners has asked consulting group Mercer to conduct a study into how the perceived need to tackle climate change and other environmental issues is impacting mainstream investing.