From bulletin@asria.org Fri Mar 1 11:42:35 2002 Return-Path: Delivered-To: ebulletin@asria.org Received: from asria.org (localhost [127.0.0.1]) by server1.asria.org (Postfix) with SMTP id 5D80B102A40 for ; Fri, 1 Mar 2002 11:42:35 +0800 (HKT) Received: from 203.198.146.42 (SquirrelMail authenticated user bulletin) by server1.asria.org with HTTP; Fri, 1 Mar 2002 11:42:35 +0800 (HKT) Message-ID: <1943.203.198.146.42.1014954155.squirrel@server1.asria.org> Date: Fri, 1 Mar 2002 11:42:35 +0800 (HKT) From: To: X-Priority: 3 Importance: Normal X-MSMail-Priority: Normal X-Mailer: SquirrelMail (version 1.2.4) MIME-Version: 1.0 Content-Type: text/plain; charset=iso-8859-1 Content-Transfer-Encoding: 8bit Subject: [ASrIA Bulletin] Test ebulletin Sender: ebulletin-admin@asria.org Errors-To: ebulletin-admin@asria.org X-BeenThere: ebulletin@asria.org X-Mailman-Version: 2.0.8 Precedence: bulk List-Help: List-Post: List-Subscribe: , List-Id: ASrIA Bulletin List-Unsubscribe: , List-Archive: Hello World! From bulletin@asria.org Fri Mar 1 17:42:24 2002 Return-Path: Delivered-To: ebulletin@asria.org Received: from asria.org (localhost [127.0.0.1]) by server1.asria.org (Postfix) with SMTP id 34300102A40; Fri, 1 Mar 2002 17:42:24 +0800 (HKT) Received: from 203.198.146.42 (SquirrelMail authenticated user bulletin) by server1.asria.org with HTTP; Fri, 1 Mar 2002 17:42:24 +0800 (HKT) Message-ID: <2272.203.198.146.42.1014975744.squirrel@server1.asria.org> Date: Fri, 1 Mar 2002 17:42:24 +0800 (HKT) From: To: X-Priority: 3 Importance: Normal X-MSMail-Priority: Normal X-Mailer: SquirrelMail (version 1.2.4) MIME-Version: 1.0 Content-Type: text/plain; charset=iso-8859-1 Content-Transfer-Encoding: 8bit Subject: [ASRIA Bulletin] CalPERS DROPS ASIAN COUNTRIES Sender: ebulletin-admin@asria.org Errors-To: ebulletin-admin@asria.org X-BeenThere: ebulletin@asria.org X-Mailman-Version: 2.0.8 Precedence: bulk List-Help: List-Post: List-Subscribe: , List-Id: ASRIA Bulletin List-Unsubscribe: , List-Archive: ASRIA E-Bulletin March 1, 2002 ----------------------------------------------------------------------- CalPERS DROPS ASIAN COUNTRIES Last week CalPERS announced its intention to remove Indonesia, Malaysia, Thailand and the Philippines from its investable list because the countries do not meet their new investment standards. This has brought SRI into the full glare of Asian Market Makers. The story has been prominent in investment commentary around the globe and triggered considerable debate in the region. Full text of this ebulletin in HTML format at: http://www.asria.org/pro/news&events/calpers_forum.htm Share your thoughts in our Forum at http://www.asria.org/forum The Wilshire Report and CalPERS process --------------------------------------- CalPERS' permissible market analysis has been conducted by Wilshire Associates since 1987. This year the methodology has been improved and has defined two forms of risk: country risk and market risk. The market risk examines the ability of specific markets to support institutional investment while the country risk examines factors pertaining to a particular country. Wilshire examined eight separate issues awarding a score of between one and three on each issue to every country. It is important to note that the final evaluation was made on a balance of market and country factors. A poor score on one issue does not necessarily lead to exclusion. This year Wilshire expanded the country risk section to include transparency and productive labour practices. The examination of productive labour practices is a very welcome development. Verite (subcontracted by Wilshire) looked at a country's ratification and adherence to two ILO conventions covering labour rights and prohibitions on abusive labour practices. Based on Verite's analysis Wilshire then awarded points to each country. Totaling the eight scores for each country Wilshire thus compiled an "investable" list. The full report can be accessed at www.calpers.ca.gov. The investment policy is driven by the State Treasurer and CalPERS Board. They state that it is constantly evolving and the next Investment Meeting on March 18th should help to clarify some of the issues raised below. The Verdict ----------- CalPERS high profile decision to include SRI issues in the investment process is to be applauded. It is a significant advance in the principle that humanitarian factors can impact investment returns and are legitimate matters of concern for fund managers. It also highlights the ownership responsibilities which shareholders have, and the role of funds in fostering sustainable enterprise. This is a very necessary development for Asian markets. However it is important to remember that SRI issues are not the only determinant for CalPERS in deciding where to invest. Transparency and Workplace Practices are only two of the eight factors that CalPERS have chosen to look at and decisions have been made on the totality of these eight considerations. Indeed more weight is still given to market factors. Turkey for example scored poorly on country factors but due to its strong market framework it is still included on the investable list. The Philippines scored highly on country factors but is excluded. What is important is the manner in which CalPERS have chosen to implement these policies. They have raised key issues for the development of SRI in the region. We would highlight four particular issues. 1. Investability at a country not company level 2. Using a simplistic numerical scoring system 3. Following a negative exclusion rather than positive engagement approach 4. Workability and manner of implementation. 1. Taking a Country Stance -------------------------- Irrespective of its position as a global shareholder, CalPERS has sent an important message to these governments regarding their ratification and respect for core ILO conventions. It is important that governments are challenged to support basic workplace rights and the CalPERS decision will undoubtedly help the reform process within government. However the decision does little to support the reform process where governments, such as in Thailand, have been making significant progress since 1997. Additionally, such a definitive statement may fuel anti western (American) sentiment in some of the moderate Islamic states of South East Asia. The decision may also reinforce the view that SRI is nothing more than the imposition of a western cultural agenda with little regard for the cultural and development realities of different countries. 2. Country vs Company --------------------- CalPERS decision to apply Productive Labour screens at the country rather than the company level is surprising. By excluding entire countries, companies that have good social and human rights records are not incentivised to continue their policies. Numerous companies who measure up to global best practice in SE Asia have effectively been 'black-listed'. Tell us if you know companies which you think have been unfairly 'black- listed' in this way. Equally there are many companies who fall significantly short of the standards which CalPERS promotes, within markets where CalPERS remains as an investor. By not engaging at the corporate level, as CalPERS does in the US market, the Fund is missing an opportunity to interact directly with management where they have the most leverage: as shareholders. 3. Numerical rating system -------------------------- Can the use of aggregated scoring systems truly reflect reality? While extensive background research and engagement was obviously undertaken, reducing that to a ranking between one and three is problematic. Given the distinct and diverse challenges that confront individual countries attempting to apply uniform metrics can leave many unanswered questions. While it is always easy to judge with hindsight, the fact that Wilshire identifies Argentina as currently one of the most suitable emerging markets for investment highlights the potential flaws in numerical rating systems. 4. Negative exclusion vs positive engagement -------------------------------------------- SRI has the potential to be a key market mechanism for promoting sustainable economic development. The business and investment case for sustainable corporate practice is beginning to find support in Asia. As US shareholders have amply demonstrated in their home market, funds driven by a positive engagement philosophy, including the voting of shares, can significantly influence business towards more sustainable practices. CalPERS decision unfortunately seems to be sending a different message and through disengagement they run the risk of undermining the development process and fostering isolationism. 5. Evolution and Implementation ------------------------------- Over the coming months it will be important to clarify how CalPERS intends to implement these new guidelines and what scope there is for evolution. Evolution: CalPERS have made it clear that this is an iterative and evolving process. It will be important to establish how CalPERS propose to monitor the situation. Will they adopt a passive approach relying on the yearly updates from Wilshire Associates, or will they also engage with corporations, governments and progressive reformers on the ground? As the example of Argentina illustrates circumstances can change very quickly. Given such fluidity, it will be important to determine whether CalPERS intend to monitor and reward progress. Implementation: Implementing this investment policy raises other questions and certain matters require early clarification. Even though a country can be on the excluded list it appears that equities from that country can still be purchased in the markets of countries which are not excluded. To that end CalPERS has the facility to buy Chinese assets listed in Hong Kong (red chips) despite China being on the excluded list. Equally how will CalPERS treat multinationals who have substantial interests within excluded countries? These are the key issues we have identified, what do you think? Are there other aspects of the CalPERS decision which concern you or deserve credit. To foster greater understanding we also want to hear your views. A Forum to gather feedback and encourage the debate is now up and running on our website at www.asria.org/forum. Come join us and add your views! ----------------------------------------------------------------------- ASRIA - Association for Sustainable and Responsible Investment in Asia http://www.asria.org From bulletin@asria.org Tue Mar 5 10:32:34 2002 Return-Path: Delivered-To: ebulletin@asria.org Received: from asria.org (localhost [127.0.0.1]) by server1.asria.org (Postfix) with SMTP id 8DD48102A42 for ; Tue, 5 Mar 2002 10:32:34 +0800 (HKT) Received: from 203.198.146.42 (SquirrelMail authenticated user bulletin) by server1.asria.org with HTTP; Tue, 5 Mar 2002 10:32:34 +0800 (HKT) Message-ID: <1317.203.198.146.42.1015295554.squirrel@server1.asria.org> Date: Tue, 5 Mar 2002 10:32:34 +0800 (HKT) From: To: X-Priority: 3 Importance: Normal X-MSMail-Priority: Normal X-Mailer: SquirrelMail (version 1.2.4) MIME-Version: 1.0 Content-Type: text/plain; charset=iso-8859-1 Content-Transfer-Encoding: 8bit Subject: [ASRIA Bulletin] CalPERS DROPS ASIAN COUNTRIES Sender: ebulletin-admin@asria.org Errors-To: ebulletin-admin@asria.org X-BeenThere: ebulletin@asria.org X-Mailman-Version: 2.0.8 Precedence: bulk List-Help: List-Post: List-Subscribe: , List-Id: ASRIA Bulletin List-Unsubscribe: , List-Archive: ASRIA E-Bulletin March 1, 2002 ----------------------------------------------------------------------- CalPERS DROPS ASIAN COUNTRIES Last week CalPERS announced its intention to remove Indonesia, Malaysia, Thailand and the Philippines from its investable list because the countries do not meet their new investment standards. This has brought SRI into the full glare of Asian Market Makers. The story has been prominent in investment commentary around the globe and triggered considerable debate in the region. Full text of this ebulletin in HTML format at: http://www.asria.org/pro/news&events/calpers_forum.htm Share your thoughts in our Forum at http://www.asria.org/forum The Wilshire Report and CalPERS process --------------------------------------- CalPERS' permissible market analysis has been conducted by Wilshire Associates since 1987. This year the methodology has been improved and has defined two forms of risk: country risk and market risk. The market risk examines the ability of specific markets to support institutional investment while the country risk examines factors pertaining to a particular country. Wilshire examined eight separate issues awarding a score of between one and three on each issue to every country. It is important to note that the final evaluation was made on a balance of market and country factors. A poor score on one issue does not necessarily lead to exclusion. This year Wilshire expanded the country risk section to include transparency and productive labour practices. The examination of productive labour practices is a very welcome development. Verite (subcontracted by Wilshire) looked at a country's ratification and adherence to two ILO conventions covering labour rights and prohibitions on abusive labour practices. Based on Verite's analysis Wilshire then awarded points to each country. Totaling the eight scores for each country Wilshire thus compiled an "investable" list. The full report can be accessed at http://www.calpers.ca.gov. The investment policy is driven by the State Treasurer and CalPERS Board. They state that it is constantly evolving and the next Investment Meeting on March 18th should help to clarify some of the issues raised below. The Verdict ----------- CalPERS high profile decision to include SRI issues in the investment process is to be applauded. It is a significant advance in the principle that humanitarian factors can impact investment returns and are legitimate matters of concern for fund managers. It also highlights the ownership responsibilities which shareholders have, and the role of funds in fostering sustainable enterprise. This is a very necessary development for Asian markets. However it is important to remember that SRI issues are not the only determinant for CalPERS in deciding where to invest. Transparency and Workplace Practices are only two of the eight factors that CalPERS have chosen to look at and decisions have been made on the totality of these eight considerations. Indeed more weight is still given to market factors. Turkey for example scored poorly on country factors but due to its strong market framework it is still included on the investable list. The Philippines scored highly on country factors but is excluded. What is important is the manner in which CalPERS have chosen to implement these policies. They have raised key issues for the development of SRI in the region. We would highlight four particular issues. 1. Investability at a country not company level 2. Using a simplistic numerical scoring system 3. Following a negative exclusion rather than positive engagement approach 4. Workability and manner of implementation. 1. Taking a Country Stance -------------------------- Irrespective of its position as a global shareholder, CalPERS has sent an important message to these governments regarding their ratification and respect for core ILO conventions. It is important that governments are challenged to support basic workplace rights and the CalPERS decision will undoubtedly help the reform process within government. However the decision does little to support the reform process where governments, such as in Thailand, have been making significant progress since 1997. Additionally, such a definitive statement may fuel anti western (American) sentiment in some of the moderate Islamic states of South East Asia. The decision may also reinforce the view that SRI is nothing more than the imposition of a western cultural agenda with little regard for the cultural and development realities of different countries. 2. Country vs Company --------------------- CalPERS decision to apply Productive Labour screens at the country rather than the company level is surprising. By excluding entire countries, companies that have good social and human rights records are not incentivised to continue their policies. Numerous companies who measure up to global best practice in SE Asia have effectively been 'black-listed'. Tell us if you know companies which you think have been unfairly 'black- listed' in this way. Equally there are many companies who fall significantly short of the standards which CalPERS promotes, within markets where CalPERS remains as an investor. By not engaging at the corporate level, as CalPERS does in the US market, the Fund is missing an opportunity to interact directly with management where they have the most leverage: as shareholders. 3. Numerical rating system -------------------------- Can the use of aggregated scoring systems truly reflect reality? While extensive background research and engagement was obviously undertaken, reducing that to a ranking between one and three is problematic. Given the distinct and diverse challenges that confront individual countries attempting to apply uniform metrics can leave many unanswered questions. While it is always easy to judge with hindsight, the fact that Wilshire identifies Argentina as currently one of the most suitable emerging markets for investment highlights the potential flaws in numerical rating systems. 4. Negative exclusion vs positive engagement -------------------------------------------- SRI has the potential to be a key market mechanism for promoting sustainable economic development. The business and investment case for sustainable corporate practice is beginning to find support in Asia. As US shareholders have amply demonstrated in their home market, funds driven by a positive engagement philosophy, including the voting of shares, can significantly influence business towards more sustainable practices. CalPERS decision unfortunately seems to be sending a different message and through disengagement they run the risk of undermining the development process and fostering isolationism. 5. Evolution and Implementation ------------------------------- Over the coming months it will be important to clarify how CalPERS intends to implement these new guidelines and what scope there is for evolution. Evolution: CalPERS have made it clear that this is an iterative and evolving process. It will be important to establish how CalPERS propose to monitor the situation. Will they adopt a passive approach relying on the yearly updates from Wilshire Associates, or will they also engage with corporations, governments and progressive reformers on the ground? As the example of Argentina illustrates circumstances can change very quickly. Given such fluidity, it will be important to determine whether CalPERS intend to monitor and reward progress. Implementation: Implementing this investment policy raises other questions and certain matters require early clarification. Even though a country can be on the excluded list it appears that equities from that country can still be purchased in the markets of countries which are not excluded. To that end CalPERS has the facility to buy Chinese assets listed in Hong Kong (red chips) despite China being on the excluded list. Equally how will CalPERS treat multinationals who have substantial interests within excluded countries? These are the key issues we have identified, what do you think? Are there other aspects of the CalPERS decision which concern you or deserve credit. To foster greater understanding we also want to hear your views. A Forum to gather feedback and encourage the debate is now up and running on our website at http://www.asria.org/forum. Come join us and add your views! From bulletin@asria.org Fri Mar 8 17:25:21 2002 Return-Path: Delivered-To: ebulletin@list.asria.org Received: from asria.org (localhost [127.0.0.1]) by server1.asria.org (Postfix) with SMTP id 70442102A40; Fri, 8 Mar 2002 17:25:21 +0800 (HKT) Received: from 203.198.146.42 (SquirrelMail authenticated user bulletin) by group.asria.org with HTTP; Fri, 8 Mar 2002 17:25:21 +0800 (HKT) Message-ID: <2809.203.198.146.42.1015579521.squirrel@group.asria.org> Date: Fri, 8 Mar 2002 17:25:21 +0800 (HKT) From: To: X-Priority: 3 Importance: Normal X-MSMail-Priority: Normal X-Mailer: SquirrelMail (version 1.2.4) MIME-Version: 1.0 Content-Type: text/plain; charset=iso-8859-1 Content-Transfer-Encoding: 8bit Subject: [ASRIA Bulletin] ASrIA Conferences Sender: ebulletin-admin@list.asria.org Errors-To: ebulletin-admin@list.asria.org X-BeenThere: ebulletin@list.asria.org X-Mailman-Version: 2.0.8 Precedence: bulk List-Help: List-Post: List-Subscribe: , List-Id: ASRIA Bulletin List-Unsubscribe: , List-Archive: ASrIA E-BULLETIN The Association for Sustainable & Responsible Investment in Asia March 8th, 2001 --------------------------------------------------------------- MARK YOUR DIARY NOW - the unmissable dimension to Global SRI Practice - ASrIA's INTERNATIONAL CONFERENCE 2002: 'SRI: Practical Applications in Asia' This year a key topic will be the contribution SRI can make to the Asian Corporate World and to the development of Pensions in Asia Main Conference: Monday 28/10 and Tuesday 29/10, UN University, Tokyo, Japan More details coming shortly. --------------------------------------------------------------- 'SINGAPORE VALUES - VALUE FOR SINGAPORE' ASrIA's first Singapore Seminar, April 8th. We are pleased to invite you to a seminar on SRI in Singapore. This is an unparalleled opportunity to discuss the potential for SRI in Singapore. This stimulating and educational event is further enriched by the presence of one of the co-authors of the CalPERS report, Dan Viederman from Verite,who will present on this highly topical issue. More information can be found on the ASrIA website at http://www.asria.org/pro/Library/ASrIASing02.pdf --------------------------------------------------------------- Have your say on the CalPERS decision to divest from ASEAN markets http://www.asria.org/forum/index_html --------------------------------------------------------------- Visit our website for everything you want to know about SRI in Asia http://www.asria.org Updated news and events on SRI in the region http://www.asria.org/pro/news&events/news&events.htm ASrIA is funded by: Calvert Group, Domini Social Investment, Co-operative Insurance Services, Friends Ivory and Sime, Henderson Global Investors,Kingsway Fund Management, Morley Fund Management, Prudential(UK), Zurich Financial Services, The Women's Group of the Methodist Church US, Trillium Asset Management, KLD and the Network for Social Change ASrIA's members include financial institutions who collectively manage over US$1Trillion globally. See our Founding Members list at http://www.asria.org To subscribe to or unsubscribe from the asria ebulletin, email the bulletin editor at bulletin@asria.org End From bulletin@asria.org Wed Mar 20 18:17:29 2002 Return-Path: Delivered-To: ebulletin@list.asria.org Received: from asria.org (localhost [127.0.0.1]) by server1.asria.org (Postfix) with SMTP id 6E3B3102A40; Wed, 20 Mar 2002 18:17:29 +0800 (HKT) Received: from 203.198.146.42 (SquirrelMail authenticated user bulletin) by group.asria.org with HTTP; Wed, 20 Mar 2002 18:17:29 +0800 (HKT) Message-ID: <2079.203.198.146.42.1016619449.squirrel@group.asria.org> Date: Wed, 20 Mar 2002 18:17:29 +0800 (HKT) From: "ASrIA E-Bulletin" To: X-Priority: 3 Importance: Normal X-MSMail-Priority: Normal X-Mailer: SquirrelMail (version 1.2.4) MIME-Version: 1.0 Content-Type: text/plain; charset=iso-8859-1 Content-Transfer-Encoding: 8bit Subject: [ASrIA Bulletin] Founding Membership Launched Sender: ebulletin-admin@list.asria.org Errors-To: ebulletin-admin@list.asria.org X-BeenThere: ebulletin@list.asria.org X-Mailman-Version: 2.0.8 Precedence: bulk List-Help: List-Post: List-Subscribe: , List-Id: ASrIA Bulletin List-Unsubscribe: , List-Archive: ASrIA E-BULLETIN The Association for Sustainable & Responsible Investment in Asia March 20, 2001 _____________________________________________________________________ MEMBERSHIP: ASrIA is proud to report that we have 41 paid-up Founding Members, who collectively manage over US$1Trillion globally, and 18 Associate Members. This significant Founding Membership gives ASrIA a solid platform on which to go forward and promote SRI within the region. The break-down of Membership by category includes 19 investment funds 6 investment research 7 investment services 5 professional services 4 corporate 18 associates (non-profits and community) Full details of our members can be found at http://www.asria.org/member THE ASrIA FORUM (http://www.asria.org/forum) has just been officially launched and is already becoming an influential sounding board on SRI issues affecting the region, attracting a number of high quality opinions on SRI issues, in particular the Calpers decision not to invest in certain Asian countries. If you have a question or a viewpoint about SRI in the region, please post it on the Forum and attract feedback from all our members and subscribers. NEWS & EVENTS: The latest news and events on SRI in the region (THIS SECTION IS NEWLY LAUNCHED IN A REDESIGNED FORMAT) http://www.asria.org/news JOB SEARCH: Looking for work in the SRI industry in Asia, or have a position to fill? Send us details and we will post it on our new SRI job search page http://www.asria.org/jobs. ASrIA SEMINAR IN SINGAPORE: Sponsored by Henderson Global Investors, full details on the ASrIA website http://www.asria.org/pro/Library/ASrIASing02.pdf _____________________________________________________________________ Use our website for everything you want to know about SRI in Asia http://www.asria.org To subscribe to or unsubscribe from the asria ebulletin, email the bulletin editor at bulletin@asria.org _____________________________________________________________________ End From bulletin@asria.org Thu May 2 16:05:27 2002 Return-Path: Delivered-To: ebulletin@list.asria.org Received: from asria.org (localhost [127.0.0.1]) by server1.asria.org (Postfix) with SMTP id E7021102A40; Thu, 2 May 2002 16:05:26 +0800 (HKT) Received: from 203.198.146.42 (SquirrelMail authenticated user bulletin) by group.asria.org with HTTP; Thu, 2 May 2002 16:05:26 +0800 (HKT) Message-ID: <1371.203.198.146.42.1020326726.squirrel@group.asria.org> Date: Thu, 2 May 2002 16:05:26 +0800 (HKT) From: "ASrIA E-Bulletin" To: X-Priority: 3 Importance: Normal X-MSMail-Priority: Normal X-Mailer: SquirrelMail (version 1.2.4) MIME-Version: 1.0 Content-Type: text/plain; charset=iso-8859-1 Content-Transfer-Encoding: 8bit Subject: [ASrIA Bulletin] New Executive Director for ASrIA Sender: ebulletin-admin@list.asria.org Errors-To: ebulletin-admin@list.asria.org X-BeenThere: ebulletin@list.asria.org X-Mailman-Version: 2.0.8 Precedence: bulk List-Help: List-Post: List-Subscribe: , List-Id: ASrIA Bulletin List-Unsubscribe: , List-Archive: ASrIA E-BULLETIN The Association for Sustainable & Responsible Investment in Asia May 2, 2002 _____________________________________________________________________ BREAKING NEWS ON SRI IN ASIA: The ASrIA e-Bulletin aims to keep you up-to-date with the latest news and events in SRI in Asia. It will also give you the latest on ASrIA and the members network. All information can be accessed from http://www.asria.org, 'News & Events' section. _____________________________________________________________________ NEW EXECUTIVE DIRECTOR FOR ASrIA: Louisa Mitchell has been appointed as ASrIA ED. This is a new role at ASrIA, created to lead ASrIA to the next phase of its development as SRI in Asia grows and ASrIA's membership expands. http://www.asria.org/news/press/1018510010 ASrIA MEMBERSHIP: Since launching its membership package at the end of 2001, ASrIA has already signed up 41 corporate members including financial institutions that collectively manage over US$1trillion globally. http://www.asria.org/member SINGAPORE SEEN READY FOR ETHICAL INVESTING: ASrIA and Henderson Global Investors jointly conducted the first SRI seminar in Singapore. ASrIA's post-Conference page provides all the presentations, pictures, breakdown of attendees of this highly successful and ground breaking event. http://www.asria.org/conference/singapore/april02 SRI INVESTMENT STRATEGY IN ASIA: ASrIA organised a briefing in Hong Kong for members and select locals on SRI investment strategy. Kirsteen Morrison, Director of Global SRI Strategy for Henderson Global Investors, presented on the topic. Our events page provides a summary of the key points made by Kirsteen in her presentation and our news page records some coverage of the event. http://www.asria.org/briefing/hongkong/april02 http://www.asria.org/news/press/1020155700 MTR RELEASES ITS FIRST SUSTAINABILITY REPORT: This report provides an overview of the Mass Transit Railway Corporation's (an ASrIA Member) approach to sustainability and details its social, environmental and economic performance during 2001. The report also describes MTR's progress towards achieving its 2001 environmental targets and presents a set of challenging sustainability targets for MTR during 2002. http://www.asria.org/news/press/1019797068 FRIENDS IVORY & SIME PLC ("FIS") PROPOSED ACQUISITION OF ROYAL & SUNALLIANCE INVESTMENTS: FIS, an ASrIA member and one of the largest SRI managers in the world, has entered into a conditional agreement to acquire Royal & SunAlliance Investments for £240 million. FIS manages £34 billion and R&SA Investments manages £36 billion. The acquisition will therefore double FIS funds under management to £70 billion. FIS will become the investment manager for the group. http://www.asria.org/news/press/1020305831 GLEBE ETHICAL SCORE A HIGHER RATING: Corporate Monitor, a leading researcher of Australian Ethical Funds, has rated Glebe Ethical Funds (an ASrIA Member) with 4 out of 5 stars after a comprehensive performance and operations review. http://www.asria.org/news/press/1018853417 HUGE GROWTH OF INTEREST IN SRI IN AUSTRALIA: Two-thirds of Australians would consider investing all or part of their superannuation (pension) in an ethical fund if given the choice, according to a recent survey by the NSW Chamber of Commerce. http://www.asria.org/news/press/1018852872 TWO SINGAPORE COMPANIES MAKE FTSE-4GOOD INDEX: Wing Tai and City Dev have made it to the FTSE-4Good Index of responsible corporations. http://www.asria.org/news/press/1018425666 SRI WORKSHOP IN TAIWAN: The New Influence in Global Markets & The Opportunity in Taiwan. Thursday May 9th 2002, 13:00-17:30. Co-organized by BCSD-Taiwan, ASrIA and Bankers Association, ROC. Full details on the ASrIA website. http://www.asria.org/news/events/1019530053 DATE FOR THE DIARY ASRIA ANNUAL INTERNATIONAL CONFERENCE IN TOKYO, 26-30 OCTOBER 2002. The main conference will be on Monday 28th and Tuesday 29th October and the overall theme of the conference will be 'Practical Application for SRI in Asia'. During the weekend before the conference there will be a chance to network at a traditional Japanese hot spring. On Wednesday 30th October, after the main conference, company visits will be arranged. _____________________________________________________________________ Use our website for everything you want to know about SRI in Asia http://www.asria.org To subscribe to or unsubscribe from the asria ebulletin, email the bulletin editor at bulletin@asria.org _____________________________________________________________________ End From bulletin@asria.org Fri May 24 16:00:06 2002 Return-Path: Delivered-To: ebulletin@list.asria.org Received: from asria.org (localhost [127.0.0.1]) by server1.asria.org (Postfix) with SMTP id AF3FB102A46 for ; Fri, 24 May 2002 16:00:06 +0800 (HKT) Received: from 203.198.146.42 (SquirrelMail authenticated user bulletin) by mail.asria.org with HTTP; Fri, 24 May 2002 16:00:06 +0800 (HKT) Message-ID: <1852.203.198.146.42.1022227206.squirrel@mail.asria.org> Date: Fri, 24 May 2002 16:00:06 +0800 (HKT) From: "ASrIA E-Bulletin" To: X-Priority: 3 Importance: Normal X-MSMail-Priority: Normal X-Mailer: SquirrelMail (version 1.2.6) MIME-Version: 1.0 Content-Type: text/plain; charset=iso-8859-1 Content-Transfer-Encoding: 8bit Subject: [ASrIA Bulletin] Conference Special Sender: ebulletin-admin@list.asria.org Errors-To: ebulletin-admin@list.asria.org X-BeenThere: ebulletin@list.asria.org X-Mailman-Version: 2.0.8 Precedence: bulk List-Help: List-Post: List-Subscribe: , List-Id: ASrIA Bulletin List-Unsubscribe: , List-Archive: Please come to ASrIA's 2002 International Conference in Tokyo, 28-30 October 2002. This is the first international SRI conference in Japan, in collaboration with the United Nations Environment Programme Finance Initiatives. In November 2001, ASrIA's inaugural conference was held in Hong Kong. It was the first dedicated SRI conference held in Asia and was the starting point for mobilising SRI in Asia. After the conference, ASrIA launched its membership package. ASrIA is the only forum for SRI in Asia and already has 62 members, an indication of the growing level of interest here. For its members ASrIA has organised regular workshops and has published research. ASrIA has also significantly developed www.asria.org which is now the 'go-to' site for information and contacts in SRI in Asia. Japan has been carefuly selected as the location for ASrIA's 2002 international conference. As a pioneer in SRI in Asia with some ten fund options to choose from, Japan is already providing leadership for Asia in developing an SRI industry. Delegates from Europe and the Americas will have the chance to acquaint themselves better with the Asian perspective and SRI priorities for the region, while those attending from Asia have the chance to learn about current developments in the region and elsewhere. Speakers will include SRI practitioners, corporations, financial institutions and civil society groups from across the globe and most importantly from Japan and the rest of Asia. We hope you will join us and contribute to SRI's evolution as a global industry. Registration details will follow, but for the moment, please look at the agenda at http://www.asria.org/events/japan/oct02 and mark the dates in your diary. Best Regards, Tessa Tennant Chair ASrIA Association for Sustainable & Responsible Investment in Asia From bulletin@asria.org Fri Jun 28 18:32:11 2002 Return-Path: Delivered-To: ebulletin@list.asria.org Received: from printer (aworklan007042.netvigator.com [203.198.146.42]) by server1.asria.org (Postfix) with SMTP id 94725102A42 for ; Fri, 28 Jun 2002 18:32:10 +0800 (HKT) From: "ASrIA E-Bulletin" To: Date: Fri, 28 Jun 2002 18:23:17 +0800 Message-ID: MIME-Version: 1.0 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: 7bit X-Priority: 3 (Normal) X-MSMail-Priority: Normal X-Mailer: Microsoft Outlook IMO, Build 9.0.2416 (9.0.2910.0) Importance: Normal X-MimeOLE: Produced By Microsoft MimeOLE V6.00.2600.0000 Subject: [ASrIA Bulletin] GRI CONFERENCE, MALAYSIA Sender: ebulletin-admin@list.asria.org Errors-To: ebulletin-admin@list.asria.org X-BeenThere: ebulletin@list.asria.org X-Mailman-Version: 2.0.8 Precedence: bulk List-Help: List-Post: List-Subscribe: , List-Id: ASrIA Bulletin List-Unsubscribe: , List-Archive: ASrIA E-BULLETIN The Association for Sustainable & Responsible Investment in Asia June 28, 2002 _____________________________________________________________________ The ASrIA e-Bulletin aims to keep you up-to-date with the latest news on SRI in Asia and on the ASrIA members network. All information can be accessed from http://www.asria.org, 'News & Events' section. _____________________________________________________________________ GRI CONFERENCE, MALAYSIA: The Global Reporting Initiative in Asia - A Regional Conference on Current and Future Status, 16-19 July 2002 Renaissance Kuala Lumpur Hotel, Kuala Lumpur, Malaysia. ASrIA's Executive Director Louisa Mitchell will be giving a presentation on aligning company and country-level reporting. Event sponsors include Calvert and ERM (ASrIA members). http://www.asria.org/news/events/1017712165 BRIEFING BY ROBERT DAVIES: On the evening of Monday 10th June, Robert Davies, the CEO of the Prince of Wales International Business Leaders Forum (IBLF) presented to ASrIA, in a packed room of members and guests, about corporate social responsibility (CSR). The venue was kindly provided by Schroder Investment Management. http://www.asria.org/events/hongkong/june02 LAUNCH OF www.corporatecitizenshipasia.net : The Price of Wales International Business Leaders Forum (IBLF) has launched CorporateCitizenshipAsia in association with ERM. It is a web supported corporate outreach programme in Asia. The contact base is in Hong Kong and it is supported by the global network of the IBLF. It is a network to enable vision, innovation and regional leadership in corporate citizenship. http://www.asria.org/events/hongkong/june02 ASrIA ANNUAL CONFERENCE: Japan is leading the way in Asia with a wide range of SRI funds and research. It is therefore very exciting that ASrIA's 2002 International Conference will be held this year in Tokyo, 28-30 October 2002. This is the first international SRI conference in Japan, in collaboration with the United Nations Environment Programme Finance Initiatives. http://www.asria.org/events/japan/oct02 TOWRY LAW PROMOTES SRI IN HONG KONG: Towry-Law, an ASrIA member, held a well attended briefing for local investors on SRI at the Conrad Hotel and have reported a very positive response to the event. There were speakers from AMP, Friends Provident International, and ASrIA. Now that locally based SRI funds are finally becoming available in Hong Kong this was a great step in raising awareness among investors. FRESH NEW LOOK FOR ASrIA WEBSITE: We have now completed a total upgrade of the ASrIA website. It is regularly updated with the latest data, news, events and job information and will continue to be developed to maintain its role as the 'go-to' site for SRI information in Asia. http://www.asria.org Recently updated items include updated data on SRI funds in Asia. http://www.asria.org/sri/whatis/sriasia?expand_all=1 FRIENDS PROVIDENT FUNDS AVAILABLE IN HONG KONG: Friends Provident International's SRI Global Fund should be available in Hong Kong from 1 July. ASrIA PUBLICATION: GM Foods - will their fate be decided in Asia? This comprehensive report looks at the response of the agri-food industry in Asia to the continuing GM debate. http://www.asria.org/publications WORLD'S POOR MISS OUT ON ETHICAL INVESTMENT BOOM: UK SRI funds have steered clear of investment in the developing world, mainly due to the opacity of investable companies in these markets. However UK fund managers see future opportunity to invest more actively into these markets if company transparency and market intelligence can be improved. ASrIA is playing an important role in mobilising awareness of the potential of the markets in Asia for SRI investment. http://www.asria.org/news/press/1024558046 VENTUREBANK LAUNCHES NEW SUSTAINABLE VC FUND IN AUSTRALIA: The fund will use positive sustainability criteria in its assessment of investment opportunities. http://www.asria.org/news/press/1022063241 NEW ENVIRONMENTAL STANDARDS SET FOR FTSE4Good SRI INDEX: FTSE, an ASrIA member, have designed new FTSE4GD criteria which aims to be challenging but still achievable, and should prompt companies to become more transparent with CSR reporting. http://www.asria.org/news/press/1022058663 FUND MANAGERS' INTEREST IN SRI DRIVEN BY CLIENT DEMAND: Deloitte & Touche's latest SRI survey showed that 50% of fund managers thought interest in SRI had increased over the last 12 months, and 70% anticipated further interest. http://www.asria.org/news/press/1024915574 _____________________________________________________________________ To subscribe to or unsubscribe from the asria ebulletin, email the bulletin editor at bulletin@asria.org _____________________________________________________________________ End From bulletin@asria.org Thu Sep 5 12:02:18 2002 Return-Path: Delivered-To: ebulletin@list.asria.org Received: from asria.org (localhost [127.0.0.1]) by server1.asria.org (Postfix) with SMTP id A0261102A40 for ; Thu, 5 Sep 2002 12:02:18 +0800 (HKT) Received: from 203.198.146.42 (SquirrelMail authenticated user bulletin) by mail.asria.org with HTTP; Thu, 5 Sep 2002 12:02:18 +0800 (HKT) Message-ID: <1799.203.198.146.42.1031198538.squirrel@mail.asria.org> Date: Thu, 5 Sep 2002 12:02:18 +0800 (HKT) From: "ASrIA E-Bulletin" To: X-Priority: 3 Importance: Normal X-MSMail-Priority: Normal X-Mailer: SquirrelMail (version 1.2.6) MIME-Version: 1.0 Content-Type: text/plain; charset=iso-8859-1 Content-Transfer-Encoding: 8bit Subject: [ASrIA Bulletin] Registration for ASrIA International Conference, Tokyo, October 28 - 30, 2002 Sender: ebulletin-admin@list.asria.org Errors-To: ebulletin-admin@list.asria.org X-BeenThere: ebulletin@list.asria.org X-Mailman-Version: 2.0.8 Precedence: bulk List-Help: List-Post: List-Subscribe: , List-Id: ASrIA Bulletin List-Unsubscribe: , List-Archive: ASrIA E-BULLETIN The Association for Sustainable & Responsible Investment in Asia September 05, 2002 _____________________________________________________________________ ASrIA INTERNATIONAL CONFERENCE 2002, UNITED NATIONS UNIVERSITY, TOKYO http://www.asria.org/conf Come to Asia's Annual SRI Conference, October 28 - 30, 2002 The premier opportunity to hear the latest on SRI and the future for SRI in Asia. Speakers and delegates include experienced SRI practitioners, financial experts, leading thinkers, corporate and community leaders from Japan, the Asian region, the USA and Europe. 5 DAYS FOR THE DIARY Saturday 26 - Sunday 27 October PRE-CONFERENCE HOT NETWORKING OPPORTUNITY at a traditional Japanese hotel (Ryokan) with open air hot springs (onsen) in a scenic rural district outside of Tokyo. The ultimate Japanese experience. Limited places only. Sunday 27 October PRE-CONFERENCE MEMBERS DINNER, in Tokyo Monday 28 October CONFERENCE DAY 1: SRI AND CORPORATES IN ASIA Tuesday 29 October CONFERENCE DAY 2: SRI AND SAVINGS PLANS IN ASIA Wednesday 30 October Option 1: Company Visits Option 2: UNEP FI Roundtable Event PLEASE VISIT http://www.asria.org/conf (English version) http://www.asria.org/conf/jp (Japanese version) FOR FULL EVENT AND REGISTRATION DETAILS. REGISTER EARLY TO AVOID DISAPPOINTMENT. Event Partner: UNEP Finance Initiatives Event Councillor: ERM Event Sponsors: Citigroup Asset Management, Commerz International Capital Management (Japan), Daiwa Securities Group, International Finance Corporation, Jupiter Asset Management, Morgan Stanley Asset & Investment Trust Management, Nikko Cordial Group. _____________________________________________________________________ To subscribe to or unsubscribe from the asria ebulletin, email the bulletin editor at bulletin@asria.org _____________________________________________________________________ End From bulletin@asria.org Mon Sep 23 14:45:35 2002 Return-Path: Delivered-To: ebulletin@list.asria.org Received: from asria.org (localhost [127.0.0.1]) by server1.asria.org (Postfix) with SMTP id D07BD102A43 for ; Mon, 23 Sep 2002 14:45:34 +0800 (HKT) Received: from 203.198.146.42 (SquirrelMail authenticated user bulletin) by mail.asria.org with HTTP; Mon, 23 Sep 2002 14:45:34 +0800 (HKT) Message-ID: <4649.203.198.146.42.1032763534.squirrel@mail.asria.org> Date: Mon, 23 Sep 2002 14:45:34 +0800 (HKT) From: "ASrIA E-Bulletin" To: X-Priority: 3 Importance: Normal X-MSMail-Priority: Normal X-Mailer: SquirrelMail (version 1.2.6) MIME-Version: 1.0 Content-Type: text/plain; charset=iso-8859-1 Content-Transfer-Encoding: 8bit Subject: [ASrIA Bulletin] Year-end SRI Conferences & Member News Sender: ebulletin-admin@list.asria.org Errors-To: ebulletin-admin@list.asria.org X-BeenThere: ebulletin@list.asria.org X-Mailman-Version: 2.0.8 Precedence: bulk List-Help: List-Post: List-Subscribe: , List-Id: ASrIA Bulletin List-Unsubscribe: , List-Archive: ASrIA E-BULLETIN The Association for Sustainable & Responsible Investment in Asia September 23, 2002 _____________________________________________________________________ The ASrIA e-Bulletin aims to keep you up-to-date with the latest news from our network and SRI in Asia. All information can be accessed from http://www.asria.org, 'News & Events' section. Plan your SRI year with the ASrIA calendar page of events at http://www.asria.org/news _____________________________________________________________________ ASrIA INTERNATIONAL CONFERENCE, TOKYO, 28 - 29 OCTOBER 2002 The premier opportunity to hear the latest on SRI and the future for SRI in Asia. Speakers and delegates include experienced SRI practitioners, financial experts, leading thinkers, corporate and community leaders from Japan, the Asian region, the USA and Europe. http://www.asria.org/conf (English) http://www.asria.org/conf/jp (Japanese) LOOKING FOR INFORMATION ON ASIAN COMPANIES? Go to our new 'SRI RESEARCH IN ASIA' page which provides a snapshot of companies providing SRI research coverage in ASIA. http://www.asria.org/sri/whatis/research?expand_all=1 KINGSWAY UNVEILS ASIAN SRI METHODOLOGY Kingsway have launched a new SRI methodology specifically designed for the Asian market. The in-house Kingsway Research team will now combine "responsibility" and "sustainability" with their traditional financial analysis in an integrated SRI investment process. http://www.asria.org/news/press/1031311260 JUPITER LAUNCHES NEW SRI FUND FOR JAPANESE INSTITUTIONS Jupiter Asset Management in conjunction with Commerz International Capital Management (Japan) has launched the Jupiter World SRI Fund. It is targeted at Japanese institutional investors and has already raised 3 billion Yen ($25.6m). http://www.asria.org/news/press/1028532321 ETHIBEL LAUNCHES SUSTAINABILITY INDEX The Ethibel Sustainability Index (ESI) enables investors to see at a glance how a carefully screened group of companies, that set the tone in terms of corporate social responsibility, is performing financially. http://www.asria.org/news/press/1025837561 HENDERSON PUBLISHES SRI RESEARCH & ENGAGEMENT HANDBOOK The new handbook provides a comprehensive description of the vision, strategy and systems that drive Henderson's approach to SRI. It also answers the often repeated question of how do they assess a company, in SRI terms, for inclusion in their investment universe. http://www.asria.org/news/press/1032411029 IFC, ETHOS INSTITUTE AND SUSTAINABILITY LAUNCH 'DEVELOPING VALUE': THE BUSINESS CASE FOR SUSTAINABILITY IN EMERGING MARKETS The report analyses the 'business case' for sustainability in emerging markets - higher sales, reduced costs, lower risks and enhanced reputation resulting from better corporate governance, improved environmental practices, and investments in social and economic development. http://www.asria.org/news/press/1027675942 NEW VENTURES CHINA LAUNCH, SHANGHAI, 9 OCTOBER Building on their success in Latin America, New Ventures comes to China to foster collaboration in market-driven solutions that foster environmentally and socially responsible small and medium enterprises. http://www.asria.org/news/events/1029209119 SRI IN THE ROCKIES, COLORADO SPRINGS, 17-20 OCTOBER This conference is the annual U.S. gathering of the social investment community. It provides you with opportunities to meet and exchange views with America's SRI thought leaders. Given the events in the USA over the last year, this should be a good one. http://www.asria.org/news/events/1018859140 TBLI, BRUSSELS, NOVEMBER 7-8 The Triple Bottom Line Investing Conference is the world's largest international learning event dealing with sustainable investment. During the two day event, the latest developments on screening, auditing, reporting, analysis, corporate citizenship, indexes and research will be covered. Be there or lose out for another year. http://www.asria.org/news/events/1018859907 _____________________________________________________________________ To subscribe to or unsubscribe from the asria ebulletin, email the bulletin editor at bulletin@asria.org _____________________________________________________________________ End From bulletin@asria.org Tue Oct 15 19:16:40 2002 Return-Path: Delivered-To: ebulletin@list.asria.org Received: from asria.org (localhost [127.0.0.1]) by server1.asria.org (Postfix) with SMTP id 57955102A40; Tue, 15 Oct 2002 19:16:40 +0800 (HKT) Received: from 203.198.146.42 (SquirrelMail authenticated user bulletin) by mail.asria.org with HTTP; Tue, 15 Oct 2002 19:16:40 +0800 (HKT) Message-ID: <1906.203.198.146.42.1034680600.squirrel@mail.asria.org> Date: Tue, 15 Oct 2002 19:16:40 +0800 (HKT) From: "ASrIA E-Bulletin" To: X-Priority: 3 Importance: Normal X-MSMail-Priority: Normal X-Mailer: SquirrelMail (version 1.2.6) MIME-Version: 1.0 Content-Type: text/plain; charset=iso-8859-1 Content-Transfer-Encoding: 8bit Subject: [ASrIA Bulletin] ASrIA International Conference in Tokyo - REGISTER NOW! Sender: ebulletin-admin@list.asria.org Errors-To: ebulletin-admin@list.asria.org X-BeenThere: ebulletin@list.asria.org X-Mailman-Version: 2.0.8 Precedence: bulk List-Help: List-Post: List-Subscribe: , List-Id: ASrIA Bulletin List-Unsubscribe: , List-Archive: ASrIA E-BULLETIN The Association for Sustainable & Responsible Investment in Asia October 15, 2002 _____________________________________________________________________ TWO WEEKS TO GO UNTIL THE ASrIA INTERNATIONAL CONFERENCE 2002 ON 28-29 OCTOBER, UNITED NATIONS UNIVERSITY, TOKYO PLEASE VISIT http://www.asria.org/conf (English version) http://www.asria.org/conf/jp (Japanese version) FOR FULL REGISTRATION DETAILS AND THE LATEST CONFERENCE INFORMATION. REGISTER NOW for the premier opportunity this year to hear the latest on SRI and the future for SRI in Asia. Speakers and delegates include experienced SRI practitioners, financial experts, leading thinkers, corporate and community leaders from Japan, the Asian region, the USA and Europe. Sunday 27 October PRE-CONFERENCE MEMBERS DINNER, in Tokyo Monday 28 October CONFERENCE DAY 1: SRI AND CORPORATES IN ASIA Tuesday 29 October CONFERENCE DAY 2: SRI AND SAVINGS PLANS IN ASIA Wednesday 30 October Option 1: Company Visits Option 2: UNEP FI Roundtable Event PLEASE VISIT http://www.asria.org/conf (English version) http://www.asria.org/conf/jp (Japanese version) EVENT PARTNER: UNEP Finance Initiatives EVENT COUNCILORS: ERM Japan, The Good Bankers EVENT SPONSORS: Citigroup Asset Management, Commerz International Capital Management (Japan), Daiwa Securities Group, International Finance Corporation, Jupiter Asset Management, Morgan Stanley Asset & Investment Trust Management, Nikko Cordial Group. MEDIA SPONSOR: Japan Inc _____________________________________________________________________ To subscribe to or unsubscribe from the asria ebulletin, email the bulletin editor at bulletin@asria.org _____________________________________________________________________ End From bulletin@asria.org Mon Oct 21 18:37:00 2002 Return-Path: Delivered-To: ebulletin@list.asria.org Received: from asria.org (localhost [127.0.0.1]) by server1.asria.org (Postfix) with SMTP id 236B7102A41; Mon, 21 Oct 2002 18:37:00 +0800 (HKT) Received: from 203.198.146.42 (SquirrelMail authenticated user bulletin) by mail.asria.org with HTTP; Mon, 21 Oct 2002 18:37:00 +0800 (HKT) Message-ID: <1992.203.198.146.42.1035196620.squirrel@mail.asria.org> Date: Mon, 21 Oct 2002 18:37:00 +0800 (HKT) From: "ASrIA E-Bulletin" To: X-Priority: 3 Importance: Normal X-MSMail-Priority: Normal X-Mailer: SquirrelMail (version 1.2.6) MIME-Version: 1.0 Content-Type: text/plain; charset=iso-8859-1 Content-Transfer-Encoding: 8bit Subject: [ASrIA Bulletin] Last Chance to Register for the ASrIA International Conference in Tokyo Sender: ebulletin-admin@list.asria.org Errors-To: ebulletin-admin@list.asria.org X-BeenThere: ebulletin@list.asria.org X-Mailman-Version: 2.0.8 Precedence: bulk List-Help: List-Post: List-Subscribe: , List-Id: ASrIA Bulletin List-Unsubscribe: , List-Archive: Dear Colleague IF YOU HAVE NOT DONE SO ALREADY, THIS IS THE LAST WEEK TO REGISTER FOR THE ASrIA INTERNATIONAL CONFERENCE 2002 ON 28-29 OCTOBER, UNITED NATIONS UNIVERSITY, TOKYO We estimate that it would take you more than a month and multiple plane journeys to meet the many speakers and delegates attending the conference from financial, corporate and civil society communities from the Asia region and further afield. Don't miss this one stop chance! Best wishes, Tessa Tennant and Louisa Mitchell PLEASE VISIT http://www.asria.org/conf (English version) http://www.asria.org/conf/jp (Japanese version) FOR FULL REGISTRATION DETAILS AND THE LATEST CONFERENCE INFORMATION. EVENT PARTNER: UNEP Finance Initiatives EVENT COUNCILORS: ERM Japan, The Good Bankers EVENT SPONSORS: Citigroup Asset Management, Commerz International Capital Management (Japan), Daiwa Securities Group, International Finance Corporation, Jupiter Asset Management, Morgan Stanley Asset & Investment Trust Management, Nikko Cordial Group. MEDIA SPONSOR: Japan Inc _____________________________________________________________________ To subscribe to or unsubscribe from the asria ebulletin, email the bulletin editor at bulletin@asria.org _____________________________________________________________________ From bulletin@asria.org Fri Nov 15 19:09:08 2002 Return-Path: Delivered-To: ebulletin@list.asria.org Received: from asria.org (localhost [127.0.0.1]) by server1.asria.org (Postfix) with SMTP id 379EA102A42 for ; Fri, 15 Nov 2002 19:09:08 +0800 (HKT) Received: from 203.198.146.42 (SquirrelMail authenticated user bulletin) by mail.asria.org with HTTP; Fri, 15 Nov 2002 19:09:08 +0800 (HKT) Message-ID: <1036.203.198.146.42.1037358548.squirrel@mail.asria.org> Date: Fri, 15 Nov 2002 19:09:08 +0800 (HKT) Subject: LANDMARK SRI EVENT FOR JAPAN From: "ASrIA E-Bulletin" To: X-Priority: 3 Importance: Normal X-MSMail-Priority: Normal X-Mailer: SquirrelMail (version 1.2.6) MIME-Version: 1.0 Content-Type: text/plain; charset=iso-8859-1 Content-Transfer-Encoding: 8bit Sender: ebulletin-admin@list.asria.org Errors-To: ebulletin-admin@list.asria.org X-BeenThere: ebulletin@list.asria.org X-Mailman-Version: 2.0.8 Precedence: bulk List-Help: List-Post: List-Subscribe: , List-Id: ASrIA Bulletin List-Unsubscribe: , List-Archive: November 15, 2002 ASrIA'S ANNUAL INTERNATIONAL CONFERENCE JAPAN'S FIRST EVER INTERNATIONAL SRI CONFERENCE WAS HELD ON 26-30 OCTOBER 300 delegates attended. Main topics: the challenges for developing SRI in Asia and SRI strategies for pensions in Asia. POST-CONFERENCE PAGE: see http://www.asria.org/events/japan/oct02/postconference for conference papers, presentations and discussion. Additional information will continue to be posted to this page in the coming weeks, so keep a look out. See the attached documents for: 1. A brief summary of the conference events and content http://www.asria.org/events/japan/oct02/postconf/summary 2. A paper on SRI in Japan highlighting the status of the market and key issues for its development http://www.asria.org/events/japan/oct02/postconf/lib/SRIinJapan.pdf 3. A summary of ASrIA's research report on "SRI and Pensions in Asia". http://www.asria.org/publications/lib/PensionsSummary.pdf See www.asria.org/publications for full report We welcome any feedback, especially from delegates at the Conference. Don't miss ASrIA's next international conference to be held early in 2004. Date and location to be advised soon. _____________________________________________________________________ To subscribe to or unsubscribe from the ASrIA ebulletin, email the bulletin editor at bulletin@asria.org _____________________________________________________________________ From bulletin@asria.org Tue Dec 17 17:52:35 2002 Return-Path: Delivered-To: ebulletin@list.asria.org Received: from asria.org (localhost [127.0.0.1]) by server1.asria.org (Postfix) with SMTP id 9174E102A40; Tue, 17 Dec 2002 17:52:35 +0800 (HKT) Received: from 203.198.146.42 (SquirrelMail authenticated user bulletin) by mail.asria.org with HTTP; Tue, 17 Dec 2002 17:52:35 +0800 (HKT) Message-ID: <1558.203.198.146.42.1040118755.squirrel@mail.asria.org> Date: Tue, 17 Dec 2002 17:52:35 +0800 (HKT) Subject: Labour Standards in China and Timms in Tokyo From: "ASrIA E-Bulletin" To: X-Priority: 3 Importance: Normal X-MSMail-Priority: Normal X-Mailer: SquirrelMail (version 1.2.6) MIME-Version: 1.0 Content-Type: text/plain; charset=iso-8859-1 Content-Transfer-Encoding: 8bit Sender: ebulletin-admin@list.asria.org Errors-To: ebulletin-admin@list.asria.org X-BeenThere: ebulletin@list.asria.org X-Mailman-Version: 2.0.8 Precedence: bulk List-Help: List-Post: List-Subscribe: , List-Id: ASrIA Bulletin List-Unsubscribe: , List-Archive: ASrIA E-BULLETIN The Association for Sustainable & Responsible Investment in Asia December 17, 2002 Seasons Greetings and a Happy New Year to all our members and subscribers from the ASrIA team _____________________________________________________________________ The ASrIA e-Bulletin aims to keep you up-to-date with the latest news from our network and SRI in Asia. All information can be accessed from http://www.asria.org, 'News & Events' section. Plan your SRI year with the ASrIA calendar page of events at http://www.asria.org/news _____________________________________________________________________ PLEASE NOTE THAT THE ASrIA WEBSITE NOW HAS A POWERFUL SEARCH FACILITY: Visit the ASrIA website to search for Asia related SRI information. http://www.asria.org _____________________________________________________________________ 1. New ASrIA Research Report - Labour Standards in China, The Business and Investment Challenge 2. UK Minister Timms urges 'Light Touch' SRI Regulations in Tokyo 3. ASrIA Workshop on SRI for Private Equity / Venture Capital professionals, Proceedings now available on-line 4. SRI and Pensions in Asia: ASrIA report now available 5. Amory Lovins delivers the fourth Singapore Environment Lecture 6. CSM Conference on Corporate Citizenship, Calcutta, India 7. Kingsway launches new Asian SRI fund 8. Jupiter publishes engagement report 9. Getting Heard: A Handbook for Hong Kong Citizens 10. Association of British Insurers calls for disclosure of environmental and social impacts in annual reports 11. EIRIS develops SRI research tool for financial advisors 12. EUROSIF to create a European-wide accreditation standard for SRI funds by spring 2003 13. Proceedings from ASrIA Tokyo conference now on-line 14. ASrIA Briefing to HK Retirement Schemes Association 21.1.03 NEW ASrIA RESEARCH REPORT - LABOUR STANDARDS IN CHINA, THE BUSINESS AND INVESTMENT CHALLENGE: The first comprehensive overview of the issues and complexities involved in assessing labour standards when making investments in China. This informative report takes a pragmatic view of the real issues on the ground in China - issues such as the loopholes in local labour laws, the difficulties in enforcing third party verification and the influence of the All-China Confederation of Free Trade Unions. This report is CRITICAL READING prior to assessing Chinese companies on workplace conditions. http://www.asria.org/publications A summary is available at http://www.asria.org/publications/lib/LabourSummary.pdf UK MINISTER TIMMS URGES 'LIGHT TOUCH' SRI REGULATIONS IN TOKYO: Speaking to the Keidanren, Stephen Timms, UK Minister for Corporate Social Responsibility said, "It is possible also for well framed regulations to promote and encourage good corporate social responsibility. In 1999, when I was the Minister for Pensions, I introduced the requirement that pensions funds should state whether or not they had a policy on socially responsible investment and if so what the policy was. We did not compel them to have a policy, only to say if they did or not. That has been an effective, light touch intervention, which has stimulated a great deal of work on the part of pension funds around the social and environmental consequences of their investments." http://www.asria.org/news/press/1040109532 ASrIA WORKSHOP ON SUSTAINABLE INVESTMENT PRACTICE FOR PRIVATE EQUITY/ VENTURE CAPITAL PROFESSIONALS: ASrIA held its first workshop in Hong Kong for the private equity community on 3rd December. The workshop was kindly sponsored by GE Equity. Around 40 delegates attended and contributed to a lively debate. Speakers included Harjit Bhatia - Managing Director of GE Equity, Melissa Mowbray d'Arbela - Managing Director of Maven International, Tim Krause - Manager of Financial Institutions Group of the International Finance Corporation and Tessa Tennant - Chair of ASrIA. Summary and presentations available at: http://www.asria.org/events/hongkong/dec02 ASrIA PUBLICATION: SRI AND PENSIONS IN ASIA: This report examines the current status of pension funds around Asia and the relevance of SRI as an investment strategy for pension funds. It includes recommendations as to how SRI might help to address the pension fund dilemma slated as the next social crisis for Asia. http://www.asria.org/publications A summary is available at http://www.asria.org/publications/lib/PensionsSummary.pdf Send us your comments on this important subject and tell us if you want to be involved in the ongoing work programme. AMORY LOVINS DELIVERED THE FOURTH SINGAPORE ENVIRONMENT LECTURE: Hosted by the Singapore Environment Council, Amory Lovins delivered the fourth Singapore Environment lecture on 16th November 2002 in Singapore. In the lecture, he had some innovative ideas for Singapore to reduce its reliance on purchased energy. http://www.asria.org/news/press/1038306386 CSM CONFERENCE ON CORPORATE CITIZENSHIP, INDIA: The Centre for Social Markets is holding its second annual conference on corporate citizenship from 17-18 December in Calcutta, India. The theme of this year's conference is 'Implementation' focusing on practices and tools that promote socially, environmentally and ethically responsible corporate conduct. Special features of this conference will be a one-day training workshop by Simon Zadek, Chief Executive of AccountAbility, and site visits to leading Calcutta companies and NGOs. http://www.asria.org/news/events/1035199502 KINGSWAY LAUNCHES NEW ASIAN SRI FUND: ASrIA member Kingsway Fund Management has launched the first Hong Kong based SRI fund that combines negative and positive SRI strategies. The fund will both exclude companies that are deemed to have a negative societal impact and actively invest in ones which make positive social or environmental contributions. http://www.asria.org/news/press/1033960092 JUPITER PUBLISHES ENGAGEMENT REPORT: ASrIA member Jupiter Asset Management has published its ‘Engagement Report: Being Part of the Process of Change’. The report provides analysis that has been carried out by the Jupiter Environmental Research Unit from April 2002 to September 2002. It aims to encourage a number of companies to improve their environmental and social performance. http://www.jupiteronline.co.uk. GETTING HEARD - A HANDBOOK FOR HONG KONG CITIZENS: Public policy think tank Civic Exchange has produced this practical guide to improving communication and public participation. The Handbook profiles a number of groups and individuals that have successfully impacted thinking and policy on key issues. Getting Heard will be available in English and Chinese from January 2003 at Hong Kong bookstores or online at http://www.hkupress.org ASSOCIATION OF BRITISH INSURERS CALLS FOR DISCLOSURE OF ENVIRONMENTAL AND SOCIAL IMPACTS IN ANNUAL REPORTS: To reflect their members' belief that social, environmental and ethical matters should be considered part of a company's core business strategy, the ABI calls on companies to disclose in their annual reports that the board has assessed the risks and taken steps to ensure that these risks are being appropriately managed. http://www.asria.org/news/press/1034750673 EIRIS DEVELOPS SRI RESEARCH TOOL FOR FINANCIAL ADVISORS: The Ethical Investment Research Service (EIRIS) has developed ‘Choosing an Ethical Fund’ which allows financial advisers to easily compare SRI funds across a range of social, environmental and ethical (SEE) issues. At a glance advisers can see what activities the funds are avoiding and/or supporting. http://www.eiris.org EUROSIF WILL CREATE A EUROPEAN-WIDE ACCREDITATION STANDARD FOR SRI FUNDS BY SPRING 2003: The Paris-based European Sustainable and Responsible Investment Forum (Eurosif) will be paid by the European Commission to create a voluntary standard for SRI funds in Europe. The standard will be developed along the lines of the 14-point code launched earlier this year by the Dutch Association of Investors for Sustainable Development (VBDO). http://www.asria.org/news/press/1040015749 ASrIA ANNUAL CONFERENCE IN TOKYO: "SRI is one of the most remarkable inventions in the history of mankind, like the radio and other inventions that have changed society. This conference has made a tremendous impact on Japanese business society." Minoru Inaoka, Ito-Yokado Co. Ltd, Japan. If you have not already done so, check out the POST CONFERENCE PAGE, which is now fully updated with presentations, workshop summaries and conference photos. http://www.asria.org/events/japan/oct02/postconf/main Summary of Tokyo Conference by Fran Teplitz, Director of Socially Responsible Business & Investing Co-op America and Social Investment Forum. http://www.asria.org/news/press/1037178417 SUSTAINABLE AND RESPONSIBLE INVESTMENT - DEVELOPMENTS OVERSEAS AND ITS RELEVANCE TO HONG KONG: Tessa Tennant, ASrIA Chair, will speak at a lunch organised by The Hong Kong Retirement Schemes Association on 21 January 2003. She will talk about SRI as a relevant and critical investment strategy for pension fund management, and explain how SRI investment strategies can reinforce the importance for pensions provision around the world. http://www.asria.org/news/events/1040031145 _____________________________________________________________________ To subscribe to or unsubscribe from the ASrIA ebulletin, email the bulletin editor at bulletin@asria.org _____________________________________________________________________ From bulletin@asria.org Tue Feb 11 09:16:53 2003 Return-Path: Delivered-To: ebulletin@list.asria.org Received: from asria.org (localhost [127.0.0.1]) by server1.asria.org (Postfix) with SMTP id 45281102A42; Tue, 11 Feb 2003 09:16:53 +0800 (HKT) Received: from 210.6.146.198 (SquirrelMail authenticated user bulletin) by mail.asria.org with HTTP; Tue, 11 Feb 2003 09:16:53 +0800 (HKT) Message-ID: <49354.210.6.146.198.1044926213.squirrel@mail.asria.org> Date: Tue, 11 Feb 2003 09:16:53 +0800 (HKT) Subject: ASrIA 2003 PROJECTS From: "ASrIA E-Bulletin" To: X-Priority: 3 Importance: Normal X-MSMail-Priority: Normal X-Mailer: SquirrelMail (version 1.2.6) MIME-Version: 1.0 Content-Type: text/plain; charset=iso-8859-1 Content-Transfer-Encoding: 8bit Sender: ebulletin-admin@list.asria.org Errors-To: ebulletin-admin@list.asria.org X-BeenThere: ebulletin@list.asria.org X-Mailman-Version: 2.0.8 Precedence: bulk List-Help: List-Post: List-Subscribe: , List-Id: ASrIA Bulletin List-Unsubscribe: , List-Archive: ASrIA E-BULLETIN February 11th, 2003 The Association for Sustainable & Responsible Investment in Asia The ASrIA team wishes all our members and subscribers a prosperous and successful lunar New Year of the Ram. Xin Nian Jin Bu! ______________________________________________________________________ IN THIS ISSUE: 1. ASrIA 2003 Projects and Funding/Research Opportunities 2. ASrIA/BEC Energy Market Development Conference, March 24th, Hong Kong 3. ASrIA to launch new on-line forum in March 4. First Malaysian SRI fund launched by Maybank 5. EIRIS makes The Good Bankers its research partner in Japan 6. Daiwa survey proves SRI is attracting attention in Japan 7. Morley Fund Management Second Sustainability Matrix 8. CIS Makes On-line Voting History Available on the Web 9. 2003 FTSE Global Classification System Handbook 10. PWC CEO Survey finds 79% of CEOs believe sustainability is critical to profitability 11. Australian Securities and Investments Commission proposes mandatory SRI guidelines 12. Canadian Social Investment Forum votes on transparency 13. Dutch group VBDO saves tax-free scheme for green investments 14. New carbon trading initiative in Chicago 15. Retirements schemes management courses now available in Hong Kong 16. Seminar in Hong Kong on Environmental Supply Chain Management & the Challenge of Globalisation ______________________________________________________________________ ACTION! ASrIA 2003 PROJECTS AND FUNDING/RESEARCH OPPORTUNITIES ASrIA's intended projects for 2003 are now outlined on the new section of our website 'ASrIA Activities'. 2003's work will continue to focus on the three core activities of 2002: events, research and awareness raising through the website/media (see ASrIA's First Year in Review). Opportunities exist for funding and resource support of some of ASrIA's key research papers and projects. See 'ASrIA Activities', 'Jobs in SRI', or contact louisa@asria.org. http://www.asria.org/asria/activities http://www.asria.org/jobs ASrIA/BEC ENERGY MARKET DEVELOPMENT CONFERENCE, MARCH 24TH, HONG KONG On Monday 24th March, at the Hong Kong Convention & Exhibition Centre, ASrIA and BEC (Business Environment Council) will hold a one day event on 'Energy Market Development'. The morning will focus on prospects for Hong Kong and the afternoon on prospects for the Asian region. Emissions trading will be a critical area of discussion and Richard Sandor, CEO of the Chicago Climate Exchange, will present on this topic. Registration details available via the ASrIA home page. http://www.asria.org/news/events/1044856588 ASrIA FORUM, LABOUR CONDITIONS IN CHINA This year ASrIA is planning to host a number of web-based Forums, bundled with informative briefs, polls and links, on 'themes' relevant to the SRI industry. Throughout March we will host a Forum on the above theme. This Forum follows on directly from ASrIA's recent research 'Labour Standards In China'. If any Member or Subscriber would like to contribute as an expert to the Forum, please contact David St. Maur Sheil, the Forum administrator directly, david@asria.org http://www.asria.org/forum FIRST MALAYSIAN SRI FUND LAUNCHED BY MAYBANK Malaysia's first socially responsible unit trust fund - The Mayban Ethical Trust Fund - was launched in January by Mayban Management Berhad, a member of the Maybank Group. There are already 13 Syariah funds for sale in Malaysia, but this is the first SRI fund which will ensure that "investments are channeled towards activities that have a favourable as well as harmonious impact on humanity, the environment and social well-being" according to Maybank MB Chairman. http://www.asria.org/news/press/1042515996 EIRIS MAKES THE GOOD BANKERS ITS RESEARCH PARTNER IN JAPAN ASrIA member EIRIS has signed a new research partnership agreement with The Good Bankers in Japan. From January 2003 Good Bankers will be EIRIS' Japanese research provider looking at all aspects of corporate social responsibility on almost 400 leading Japanese companies. The Good Bankers will research all aspects of Japanese company environmental, social, governance and ethical behaviour, following EIRIS research methodology and standards. http://www.asria.org/news/press/1043206222 DAIWA SURVEY PROVES SRI IS ATTRACTING ATTENTION IN JAPAN In December 2002 ASrIA member Daiwa undertook a survey, predominantly of fund managers and buy/sell-side analysts and learned that 76.4% of 127 respondents "know" or "know well" SRI. Among SRI issues, 'governance and accountability' was that of highest interest, followed by 'environment'. 37% of respondents believe they are already feeling the effects of SRI when making stock selections. 56% of respondents expect SRI to spread in the future. http://www.asria.org/news/press/1043116805 MORLEY FUND MANAGEMENT SECOND SUSTAINABILITY MATRIX In May 2003, ASrIA member Morley Fund Management will be releasing its second Sustainability Matrix for the FTSE 100 companies, according to social and environmental performance of core product and management practice. This follows the release of the first ratings in May 2002, in response to calls for more transparency from the SRI community. A number of companies have moved within the Matrix this year as a result of ongoing engagement. These gradings provide clear and transparent analysis of companies' social and environmental policies and encourage and stimulate debate and continue raising awareness of Corporate Social Responsibility. They also encourage companies to improve their Social and Environmental Performance. These ratings are the outcome of over a year's in-depth research of the FTSE 100 companies by Morley analysts. CIS MAKES ON-LINE VOTING HISTORY AVAILABLE ON THE WEB ASrIA member CIS has put its shareholder voting record for the last 12 months on its website. The aim is to increase transparency and restore confidence in the SRI investment process. http://www.asria.org/news/press/1044874924 2003 FTSE GLOBAL CLASSIFICATION SYSTEM HANDBOOK ASrIA member FTSE has recently published a reference handbook which provides an overview of the structure and summary of the Ground Rules that govern their global classification system. This system has been adopted by a variety of exchanges, investment houses, consultants and performance measurers to define and classify their markets. This book is available free of charge and can be ordered from the FTSE website. http://www.asria.org/news/press/1040031673 PWC CEO SURVEY FINDS 79% OF CEOs BELIEVE SUSTAINABILITY IS CRITICAL TO PROFITABILITY ASrIA member PWC has undertaken its 6th Annual Global CEO Survey. Sustainability/corporate social responsibility was a featured theme. In summary, more CEOs agreed that sustainability is vital to the profitability of any company, an increase from 69 percent last year to 79 percent in this year's survey. An impressive number of CEOs -- 71 percent -- said they would sacrifice short-term profitability in exchange for long-term shareholder value when implementing a sustainability program. Survey results are posted on http://www.pwcglobal.com/globalceosurvey. http://www.asria.org/news/press/1043830548 AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION PROPOSES MANDATORY SRI GUIDELINES The Australian Securities and Investments Commission (ASIC) issued a discussion paper at the end of December on the subject of disclosure by fund managers regarding the extent to which SRI criteria are a factor in investment decision-making and the processes involved in making those decisions. The paper requests comments from interested parties as to why these guidelines should not be introduced. http://www.asria.org/news/press/1040703374 CANADIAN SOCIAL INVESTMENT FORUM VOTES ON TRANSPARENCY The Social Investment Organization of Canada (SIO) has called on the Ontario Securities Commission to scrap a proposed requirement for mutual funds to report briefly on their voting activities and instead adopt a recent US SEC proposal that will require mutual funds to disclose their voting policies and their votes more extensively. SIO felt that a brief report would not provide information to investors on the voting policies of the funds or the detailed votes concerning important issues of governance, social responsibility or environmental sustainability. http://www.asria.org/news/press/1042613270 DUTCH GROUP VBDO SAVES TAX-FREE SCHEME FOR GREEN INVESTMENTS Dutch Social Investment Forum VBDO has successfully campaigned to save the tax-free scheme for 'green' investments. The scheme was very influential in encouraging green investments as it allows environmental projects (renewables, organic farming) to obtain less expensive loans and private investors to invest at more attractive rates. VBDO collected 16,000 signatories in favour of keeping the scheme which convinced parliament to leave it as it is. http://www.asria.org/news/press/1044875503 NEW CARBON TRADING INITIATIVE IN CHICAGO Leading U.S. and international companies in multiple industries and the City of Chicago have announced that they will be the Founding Members of the Chicago Climate Exchange, a voluntary cap-and-trade programme for reducing and trading greenhouse gas emissions. These groups have made a legally binding commitment to reduce their emissions of greenhouse gases by four percent below the average of their 1998-2001 baseline by 2006. http://www.asria.org/news/press/1044873864 RETIREMENT SCHEMES MANAGEMENT COURSES NOW AVAILABLE IN HONG KONG The Hong Kong Retirement Schemes Association (HKRSA) is offering education in retirements schemes at the University of Hong Kong. This is an important development in retirement protection and professionalism in Hong Kong. http://www.asria.org/news/press/1043292897 ENVIRONMENTAL SUPPLY CHAIN MANAGEMENT AND THE CHALLENGE OF GLOBALISATION (13 March 2002) - Luncheon Seminar in Hong Kong Dr. Richard Welford, formerly Professor of Corporate Environmental Management at the University of Huddersfield UK and currently Deputy Director of the Corporate Environmental Governance Programme at the University of Hong Kong, will be giving a luncheon seminar on 13 March 2002 (Wednesday) on the growing importance of environmental supply chain management in a world of increased globalisation, why businesses should extend their responsibility down to their suppliers and up to the customers activities, and how these can be done. The luncheon is organised by the Business Environment Council (BEC). Fee and venue to be confirmed. For more information please contact BEC (tel: 2784 3900; email: enquiry@bec.org.hk) _____________________________________________________________________ To subscribe to or unsubscribe from the asria ebulletin, email the bulletin editor at bulletin@asria.org _____________________________________________________________________ End From bulletin@asria.org Wed Feb 19 11:29:58 2003 Return-Path: Delivered-To: ebulletin@list.asria.org Received: from asria.org (localhost [127.0.0.1]) by server1.asria.org (Postfix) with SMTP id 150DD102A42 for ; Wed, 19 Feb 2003 11:29:58 +0800 (HKT) Received: from 203.198.146.42 (SquirrelMail authenticated user bulletin) by mail.asria.org with HTTP; Wed, 19 Feb 2003 11:29:58 +0800 (HKT) Message-ID: <1286.203.198.146.42.1045625398.squirrel@mail.asria.org> Date: Wed, 19 Feb 2003 11:29:58 +0800 (HKT) From: "ASrIA E-Bulletin" To: X-Priority: 3 Importance: Normal X-MSMail-Priority: Normal X-Mailer: SquirrelMail (version 1.2.6) MIME-Version: 1.0 Content-Type: text/plain; charset=iso-8859-1 Content-Transfer-Encoding: 8bit X-Mailman-Approved-At: Wed, 19 Feb 2003 11:30:59 +0800 Subject: ASrIA/BEC: ENERGY MARKET DEVELOPMENT CONFERENCE, HONG KONG, 24th MARCH X-BeenThere: ebulletin@list.asria.org X-Mailman-Version: 2.1.1 Precedence: list X-List-Received-Date: Wed, 19 Feb 2003 03:29:58 -0000 IF YOU CAN BE IN HONG KONG ON MONDAY 24th MARCH, 2003...READ ON... _____________________________________________________________________ ENERGY MARKET DEVELOPMENT CONFERENCE Co-organised with Business Environment Council (BEC) Hong Kong Convention and Exhibition Centre, Theatre 2 Monday 24th March, 2003 _____________________________________________________________________ The morning will cover the prospects for Hong Kong and the afternoon will cover the prospects for the region. ASrIA has organised the afternoon event, starting at 2pm, which is specifically focused on the financial opportunities arising from the emerging carbon mitigation markets: - Find out how emissions trading really works and its relevance for Asian markets - Hear from BP how emissions reduction across its business units has achieved significant savings - Get up to speed on the new deal flow generated by financing projects which qualify under the Clean Development Mechanism - Learn about the latest opportunities in 'New Energy' private equity funds - Hear about recent action from institutional investors on climate change and the implications for Asian companies PROMINENT SPEAKERS INCLUDE: Mr. Richard Sandor, Director, Chicago Carbon Exchange, USA Mr. Justin Guest, Principal Policy Advisor, Climate Change Projects Office, DtI, UK Mr. Colin Gomm, Regional Director, Health, Safety and Environment, B.P. plc, Asia Pacific Mr. Daniel Dijk, Manager, Sustainable Energy and Environmental Markets, Rabobank Nederland Mr. Norio Suzuki, Senior Manager, Natsource Japan SEE FULL PROGRAM AT http://www.asria.org/news/events/lib/ASrIA_BEC_EMDConference.pdf REGISTER NOW AT http://www.enviroseries.com/2003/emd/index.html From bulletin@asria.org Mon Mar 3 11:34:26 2003 Return-Path: Delivered-To: ebulletin@list.asria.org Received: from asria.org (localhost [127.0.0.1]) by server1.asria.org (Postfix) with SMTP id 942DE102A36 for ; Mon, 3 Mar 2003 11:34:26 +0800 (HKT) Received: from 203.198.146.42 (SquirrelMail authenticated user bulletin) by mail.asria.org with HTTP; Mon, 3 Mar 2003 11:34:26 +0800 (HKT) Message-ID: <1404.203.198.146.42.1046662466.squirrel@mail.asria.org> Date: Mon, 3 Mar 2003 11:34:26 +0800 (HKT) From: "ASrIA E-Bulletin" To: X-Priority: 3 Importance: Normal X-MSMail-Priority: Normal X-Mailer: SquirrelMail (version 1.2.6) MIME-Version: 1.0 Content-Type: text/plain; charset=iso-8859-1 Content-Transfer-Encoding: 8bit X-Mailman-Approved-At: Mon, 03 Mar 2003 11:35:44 +0800 Subject: Join our March e-Forum : FACTORY LABOUR IN CHINA X-BeenThere: ebulletin@list.asria.org X-Mailman-Version: 2.1.1 Precedence: list Cc: ASrIA E-Bulletin X-List-Received-Date: Mon, 03 Mar 2003 03:34:27 -0000 FACTORY LABOUR IN CHINA - Exploitation? http://www.asria.org/forum What, if anything, can investors do to influence worker conditions in Chinese factories for the better? In December ASrIA released a report, 'Labour Standards in China, the Business and Investment Challenge', which raised five key issues and related dilemmas that investors in China should consider. To build on the value of this Report we are running an e-Forum during March on labour practices in China to solicit your views on some of the key issues. The ASrIA e-Forum is MORE THAN JUST A FORUM: * BRIEF: a background brief * POLLS: a series of polls to help you grasp the issues * LINKS: direct links to key sites providing background on the issues * FORUM: the e-Forum for expressing you views, asking questions and posting information. The ASrIA e-Forum is designed to give you a full introduction to a topical issue in an interesting and educative way, with access to all the information you might want, and a chance to express your views. See you there! http://www.asria.org/forum From bulletin@asria.org Fri Apr 4 10:41:03 2003 Return-Path: X-Original-To: ebulletin@list.asria.org Delivered-To: ebulletin@list.asria.org Received: by server1.asria.org (Postfix, from userid 48) id 82A8227ECCB; Fri, 4 Apr 2003 10:41:03 +0800 (HKT) Received: from 203.198.146.42 (SquirrelMail authenticated user bulletin) by mail.asria.org with HTTP; Fri, 4 Apr 2003 10:41:03 +0800 (HKT) Message-ID: <1248.203.198.146.42.1049424063.squirrel@mail.asria.org> Date: Fri, 4 Apr 2003 10:41:03 +0800 (HKT) From: "ASrIA E-Bulletin" To: ebulletin@list.asria.org User-Agent: SquirrelMail/1.4.0 MIME-Version: 1.0 Content-Type: text/plain;charset=iso-8859-1 X-Priority: 3 Importance: Normal X-Mailman-Approved-At: Fri, 04 Apr 2003 10:41:51 +0800 Subject: HK SARs no put down for SRI X-BeenThere: ebulletin@list.asria.org X-Mailman-Version: 2.1.1 Precedence: list Cc: ASrIA E-Bulletin X-List-Received-Date: Fri, 04 Apr 2003 02:41:03 -0000 ASrIA E-BULLETIN 4 April 2003 The Association for Sustainable & Responsible Investment in Asia ______________________________________________________________________ IN THIS ISSUE: ASIAN SRI NEWS FOR GLOBAL SRI READERS: 1. ASrIA Carbon Finance Briefing 2. Australian Stock Exchange Governance Guidlines include CSR 3. First SRI fund launched in Australia using Ethibel research 4. Webb-site.com launches Project Poll 5. Symposium on Social Cohesion (Hong Kong) 6. Seminar in Hong Kong on Environmental and Social Aspects of Corporate Governance 7. SRI Action in Korea 8. Chinese Language Weekly Environmental Newsletter GLOBAL SRI NEWS FOR ASIAN READERS 1. Dutch & UK studies reveal ethical funds do not underperform 2. FTSE launches new FTSE4Good web pages 3. Launch of New GRI Website 4. Credit Suisse launches new information platform on Sustainable Investment 5. World's first corporate responsibility Assurance Standard launched to improve business performance and credibility 6. European awards for best workplaces and excellence in the fields of lifelong learning, diversity and gender equality announced 7. First ever global survey of sustainability reporting ______________________________________________________________________ ASIAN SRI NEWS FOR GLOBAL SRI READERS: ASrIA CARBON FINANCE BRIEFING (24 March 2003) Shift from Airways to Airwaves for Low Carbon Living. Due to a combination of concerns about the Iraq war and the pneumonia outbreak 4 of the 5 international speakers cancelled their Hong Kong trip and presented by videolink. This saved around 10 tonnes CO2.. which allows around 10 Chinese people or 7 Hongkongese or 35 Phillipinos to live 'carbon neutral' for a year.. on an equitable global per capita basis. Go to http://www.asria.org/events/hongkong/march03 for excellent presentations on the new investment opportunities, emissions trading and institutional investor action on climate change. AUSTRALIAN STOCK EXCHANGE GOVERNANCE GUIDELINES INCLUDE CSR The link between corporate social responsibility and good corporate governance has been recognised in the Australian Stock Exchange's new guidelines, 'Principles of Good Corporate Governance and Best Practice Recommendations'. Ten core principles that the ASX Corporate Governance Council believes underlie good corporate governance are presented in this document. http://www.asx.com.au/about/CorporateGovernance_AA2.shtm FIRST SRI FUND LAUNCHED IN AUSTRALIA USING ETHIBEL RESEARCH Ausbil Dexia has started to commercialise the 'Dexia Sustainable World Equities Fund' in Australia. This is a sustainable fund which invests in shares screened and researched by ASrIA member Ethibel and placed on the Ethibel Investment Register. http://www.asria.org/news/press/1047267616 WEBB-SITE.COM LAUNCHES PROJECT POLL Webb-site.com has launched a campaign to get all votes counted (one-share-one-vote) in every meeting of the 33 Hang Seng Index companies as well as Hong Kong Exchanges and Clearing Ltd. This is being done in the effort to increase transparency of shareholder meetings and accountability of management as currently absentee votes are ignored and levels of support and opposition to management proposals are unrecorded. http://www.asria.org/news/press/1046772570 FIRST EVER GLOBAL SYMPOSIUM ON SOCIAL COHESION (11 April 2003) one-day event organised by the Hong Kong Council on Social Service. This symposium addresses the need for Hong Kong to build social cohesion in order to ensure it?s social and economic development. The symposium will be an interactive dialogue involving international and local experts. The keynote speaker is John Murray, Head of Social Policy Department, Council of Europe. ASrIA's Executive Director, Louisa Mitchell, will also speak on the topic of 'Socially Responsible Investment: A Financial Tool for Corporate Social Responsibility'. http://www.asria.org/news/events/1048824472 SEMINAR IN HONG KONG ON ENVIRONMENTAL AND SOCIAL ASPECTS OF CORPORATE GOVERNANCE (12 April 2003) - half-day seminar organised by the Corporate Environmental Governance Programme, University of Hong Kong, with key speaker Dr. Andy Gouldson from the London School of Economics and Political Science. This seminar is the first of its kind in Hong Kong. With most corporate governance issues in Hong Kong focusing on the financial aspects, the environmental and social implications are seldom explored. In fact, incorporating environmental and social considerations into corporate governance can benefit companies by improved efficiency, enhanced corporate image, reduced risk of liability and increased profitability. This seminar will illustrate the evolution and current practices of corporate governance, and participants will be introduced to tools and practices for improving environmental and social performance of their businesses. http://www.asria.org/news/events/1048827337 SRI ACTION IN KOREA Date Alert: 17th (and 18th) June 2003, Seoul, Korea. Eco-Frontier and Economy21 conference planned in partnership with ASrIA ... and in co-operation with Samsung and UNEP FI. Further details to be posted at http://www.asria.org shortly. CHINESE LANGUAGE WEEKLY ENVIRONMENTAL NEWSLETTER China EnviroData Weekly is an English and Chinese language newsletter produced by Beijing Intellectual Power Consulting Co. Ltd. in conjunction with New Ventures China Program and International Fund for China's Environment. First launched in March 2002, it is the only environmental bilingual weekly produced in mainland China and launched globally at the same time. It provides the latest news and information on business and the environment in the mainland. http://www.asria.org/news/press/1049100724 GLOBAL SRI NEWS FOR ASIAN READERS DUTCH & UK STUDIES REVEAL ETHICAL FUNDS DO NOT UNDERPERFORM Two studies conducted by ABP Investments/ Maastricht University in Holland and Co-operative Insurance Society/Forum for the Future/ Pensions Investment Research Consultants in the UK both found that SRI funds do not underperform compared to conventional funds. http://www.asria.org/news/press/1047268353 FTSE LAUNCHES NEW FTSE4GOOD WEB PAGES ASrIA Member FTSE has developed and improved its FTSE4Good webpages to include a complete listing of FTSE4Good constituent companies, acharting tool to compare FTSE4Good indices against other FTSE indices and benchmarks, new sections on Corporate Responsibility and Socially Responsible Investment, updated guidance on the FTSE4Good entry criteria, plus all the regular information available including end of day index data, index changes and media information. http://www.asria.org/news/press/1048744845 CREDIT SUISSE LAUNCHES NEW INFORMATION PLATFORM ON SUSTAINABLE INVESTMENT Credit Suisse Private Banking is launching an Internet information platform on "sustainable investments". It will give investors direct access to the latest news relating to this attractive growth market. Investors who wish to take ethical and environmental factors into account - as well as the purely economic - can obtain comprehensive information about developments and investment opportunities in the sphere of sustainability. Visit http://www.credit-suisse.com/sustainable-investments http://www.asria.org/news/press/1048730677 LAUNCH OF NEW GRI WEBSITE The Global Reporting Initiative (GRI), a multi-stakeholder process and independent institution set up to develop and disseminate globally applicable Sustainability Reporting Guidelines, has updated and re-designed its website to include expanded content, new search capabilities and extensive internal links. http://www.asria.org/news/press/1047279446 WORLD'S FIRST CORPORATE RESPONSIBILITY ASSURANCE STANDARD LAUNCHED TO IMPROVE BUSINESS PERFORMANCE AND CREDIBILITY The world's first assurance standard developed to ensure the credibility and quality of corporate public reporting on social, environmental and economic performance, the AA1000 Assurance Standard, was launched on March 25 in London. The aim of this standard is to address the public's lack of trust in the social responsibly behaviour of businesses and organisations. http://www.asria.org/news/press/1048588070 EUROPEAN AWARDS FOR BEST WORKPLACES AND EXCELLENCE IN LIFELONG LEARNING, DIVERSITY AND GENDER EQUALITY ANNOUNCED This initiative took place in the context of the European Commission strategy to promote business contribution to European Social Policy. The Awards, announced on 27 March 2003, were given to three particularly progressive workplaces in the fields of lifelong learning, gender equality and promotion of diversity at the workplace. The 100 Best Workplaces in the EU were selected for the overall high quality of their workplace environments. http://www.asria.org/news/press/1049099946 SURVEY OF SUSTAINABILITY REPORTING The first worldwide survey of the readers of Corporate Social Responsibility reports is being conducted by ECC Research (Bonn) and Fishburn Hedges (London). The questionnaire is online from now until 9 April 2003. It is hoped that the survey will contribute to a higher quality standard of sustainability reporting and in the long term to building trust between business and society. The results of the survey will be published in autumn 2003. http://www.asria.org/news/press/1048756463 From bulletin@asria.org Mon May 26 16:18:42 2003 Return-Path: X-Original-To: ebulletin@list.asria.org Delivered-To: ebulletin@list.asria.org Received: by server1.asria.org (Postfix, from userid 515) id CA41127EC4F; Mon, 26 May 2003 16:18:42 +0800 (HKT) Received: from server1.asria.org (localhost [127.0.0.1]) by server1.asria.org (Postfix) with ESMTP id 62EC127EC4E for ; Mon, 26 May 2003 16:18:42 +0800 (HKT) To: ebulletin@list.asria.org From: "ASrIA E-Bulletin" Date: Mon, 26 May 2003 16:18:42 +0800 Message-Id: <20030526081842.62EC127EC4E@server1.asria.org> X-Sanitizer: ASrIA mail filter MIME-Version: 1.0 Content-Type: multipart/alternative; boundary="MIMEStream=_0+279360_7178402116525_2939524709" X-Mailman-Approved-At: Mon, 26 May 2003 16:21:07 +0800 Subject: ASrIA Begins Detailed Research on Potential for SRI in Asia X-BeenThere: ebulletin@list.asria.org X-Mailman-Version: 2.1.1 Precedence: list Cc: ASrIA E-Bulletin X-List-Received-Date: Mon, 26 May 2003 08:18:43 -0000 --MIMEStream=_0+279360_7178402116525_2939524709 Content-Type: text/html; charset="us-ascii" Content-Transfer-Encoding: 7bit ASrIA E-Bulletin
ASrIA ASrIA E-Bulletin
May 26, 2003

The Association for Sustainable & Responsible Investment in Asia
IN THIS ISSUE:
ASIAN SRI NEWS
  1. ASrIA Initiates "Development of SRI in Asian Emerging Markets" Project Sponsored by IFC
  2. MTR Corporation Publishes Sustainability Report 2002
  3. Asian Corporate Governance Study Shows Korea, Malaysia in the Lead
  4. Hong Kong Stock Exchange Shake-up
  5. Corporate Governance in Asia - ACCA Report
  6. Kuala Lumpur Stock Exchange-PwC Corporate Governance Survey Reveals Improved Governance in Malaysia
  7. First SRI Conference in South Korea
  8. CalPERS Invests In Japan Corporate Governance Fund
  9. HKU Survey Reveals Asian Companies Lag Behind Europe on Corporate Social Responsibility Policies
  10. First Japanese CSR and SRI website
  11. "Asia Pacific Labour Law Review" Released by Asia Monitor Resource Centre
  12. ASrIA E-Bulletin Redesigned into Fresh 'HTML' Format
  13. ASrIA Moves Office
GLOBAL SRI NEWS
  1. Institutional Investors Urge Transparency on Oil Deals
  2. EIRIS Reveals SRI Practices of Top UK Pensions Funds
  3. Human Rights Standards Raised for FTSE4Good index
  4. Rebuilding Iraq: Humanitarianism Versus Opportunism
  5. Strong CSR Companies on S&P Perform Better than Index Overall
  6. Shareholder Coalition Led by Calvert Pushes for Computer Recycling Programs
  7. Global CEOs See Environmental & Social Credibility Impacting Corporate Reputations
  8. ISIS Asset Management Issues Latest Quarterly Shareholder Engagement Report

ASrIA INITIATES "DEVELOPMENT OF SRI IN ASIAN EMERGING MARKETS" PROJECT SPONSORED BY IFC
Sponsored by International Finance Corporation (the private sector arm of the World Bank), ASrIA has initiated research into SRI in Asian Emerging Markets. Succinct reports will be produced on each Asian Emerging Market, carefully researched by our network of researchers on the ground in Asia. Each report will cover the current status of sustainable investment, other related initiatives and levels of awareness in each market.

MTR CORPORATION PUBLISHES SUSTAINABILITY REPORT 2002
ASrIA member MTR Corporation recently published its second corporate sustainability report describing the company's progress towards achieving its 2002 sustainability targets and presenting sustainability targets for 2003.

ASIAN CORPORATE GOVERNANCE STUDY SHOWS KOREA, MALAYSIA IN THE LEAD
CLSA's fourth annual survey on corporate governance in Asia, released in early May, was done for the first time in collaboration with the Asian Corporate Governance Association. This study reveals that Korean and Malaysian markets have experienced the biggest improvements in corporate governance standards of any countries in Asia since 2001.

HONG KONG STOCK EXCHANGE SHAKE-UP
For the first time institutional shareholders took their opportunity to shake up the HK Stock Exchange by voting in the first investors to the board and rejecting 5 out of 8 broker candidates, 3 of whom were incumbent directors recommended by the board. The two new directors are well-known corporate governance activist and editor of Webb-site.com, David Webb, and Oscar Wong of BOC-Prudential Asset Management.

CORPORATE GOVERNANCE IN ASIA - ACCA REPORT
A study commissioned by ASrIA member Association of Chartered Certified Accountants (ACCA) which canvassed Asian chief financial officers from the top 300 companies in China, Malaysia and Singapore for their opinions on corporate governance, revealed that Asian corporate governance still focuses more on disclosure and compliance, rather than enhancing transparency.

KUALA LUMPUR STOCK EXCHANGE-PWC CORPORATE GOVERNANCE SURVEY REVEALS IMPROVED GOVERNANCE IN MALAYSIA
The report on a joint KLSE - PricewaterhouseCoopers Corporate Governance Survey for 2002 was launched by Malaysia's Deputy Minister of Finance in late April. The survey revealed that the corporate governance gap between Malaysia and other Asia Pacific jurisdictions like Singapore, Hong Kong and Australia had narrowed.

FIRST SRI CONFERENCE IN SOUTH KOREA
On 16th June 2003 at the National Assembly Memorial Hall in Seoul, Economy21 and Eco-Frontier will hold the First International Conference on SRI in South Korea in partnership with ASrIA. The conference will aim to raise awareness on SRI with financial institutions, the Government and the public in South Korea. It will be sponsored by Kookmin Bank and will be organised in collaboration with the Hankyoreh, the Korea Broadcasting Systems, the National Pension Corporation, the Ministry of Finance and Economy and ASrIA.

CALPERS INVESTS IN JAPAN CORPORATE GOVERNANCE FUND
The California Public Employees' Retirement System (CalPERS) will invest $200 million in The Taiyo Fund - a fund with a focus on shareholder activism aimed at turning around underperforming publicly traded companies in Japan.

HKU SURVEY REVEALS ASIAN COMPANIES LAG BEHIND EUROPE ON CORPORATE SOCIAL RESPONSIBILITY POLICIES
Twelve countries in Europe and across Asia were surveyed on their Corporate Social Responsibility policies by the Corporate Environmental Governance Programme at the University of Hong Kong. While there were some positive elements, the general picture was one where Asian companies lagged behind their European counterparts in most areas.

FIRST JAPANESE CSR AND SRI WEBSITE
Japan Research Institute launched the first comprehensive Japanese web site about CSR and SRI in Japan in March.

"ASIA PACIFIC LABOUR LAW REVIEW" RELEASED BY ASIA MONITOR RESOURCE CENTRE
Hong Kong based NGO, Asia Monitor Resource Centre has published a 400 page book covering labour laws in 30 countries in the Asia Pacific region, labour unions' and activists' responses to these laws, the effects on 'unorganised' workers who make up the largest labour sector in Asia and what it means to their daily existence.

ASrIA E-BULLETIN REDESIGNED INTO FRESH 'HTML' FORMAT
The ASrIA e-bulletin has been redesigned into a fresh 'HTML' format. We hope you like it. However, if you have any problems with receiving this format or any other comments on our e-bulletin please contact webmaster@asria.org.

ASRIA MOVES OFFICE
Last month ASrIA moved to another floor in the same location. Our new address is: Room 701 Hoseinee House, 69 Wyndham Street, Central, Hong Kong. Telephone and Fax numbers remain the same. ASrIA is delighted to continue sharing office space with Hong Kong think-tank, Civic Exchange.
INSTITUTIONAL INVESTORS URGE TRANSPARENCY ON OIL DEALS
As an anti-corruption move, a group of 10 UK and European institutional investors, led by ASrIA member ISIS Asset Management, issues statement calling for oil and mining companies to be more transparent about their payments to governments.

EIRIS REVEALS SRI PRACTICES OF TOP UK PENSION FUNDS
Information on how the UK's top pension funds apply SRI principles, if at all, to their investments is now available on the website of ASrIA member EIRIS . EIRIS has also published a guide entitled "How Responsible Is Your Pension?" which provides action points for pension scheme members who wish to encourage greater commitment to SRI from their pension funds.

HUMAN RIGHTS STANDARDS RAISED FOR FTSE4GOOD INDEX
ASrIA member FTSE has developed a more rigorous set of human rights standards for entry into their FTSE4Good socially responsible index. The new criteria is based on FTSE's 2002 human rights consultation exercise with corporations, fund managers, non-government organisations and private investors.

REBUILDING IRAQ: HUMANITARIANISM VERSUS OPPORTUNISM
US socially responsible funds have been looking at how to advance humanitarian efforts in rebuilding Iraq while at the same time avoid investment in profiteering companies. While social investors wish to avoid exposure to such companies, the way to do so is less clear. However several creative ways have been devised including redirection of donations to relief agencies, supporting microcredit initiatives in the Middle East, supporting nonprofit peace organisations in the region, and voicing support for constructive rebuilding efforts and opposition of opportunistic ones.

STRONG CSR COMPANIES ON S&P PERFORM BETTER THAN INDEX OVERALL
A study by US -based corporate governance ratings agency, GovernanceMetrics International, revealed that companies on Standard & Poor's 500-stock index, which showed leadership in corporate social responsibility outperformed the overall S&P index on several measurements including average stock price increase, return on assets, return on investment and return on capital.

SHAREHOLDER COALITION LED BY CALVERT PUSHES FOR COMPUTER RECYCLING PROGRAMS
ASrIA member Calvert Group is leading a shareholder coalition to encourage major computer manufacturers to develop world-wide computer recycling and product recovery objectives. Dell Computers is the first U.S. computer company to commit to setting global performance goals and developing a system of measurement for success of its global product recycling program. The coalition intends to seek similar commitments from computer companies including Apple, Hewlett-Packard, and IBM.

GLOBAL CEOS SEE ENVIRONMENTAL & SOCIAL CREDIBILITY IMPACTING CORPORATE REPUTATIONS
A report by Cambridge University's Business School, suggests that Fortune 500 CEOs see environmental and social credibility as having a significant impact on the future reputation of multinational corporations, and will be as important as financial credibility.

ISIS ASSET MANAGEMENT ISSUES LATEST QUARTERLY SHAREHOLDER ENGAGEMENT REPORT
ASrIA Member ISIS Asset Management's recently issued their latest quarterly shareholder engagement report, known as the ISIS reo® Report. Launched in 1999, reo®, the Responsible Engagement Overlay, provides a way for institutional pension funds to address ethical and environmental issues by means of engagement. This report features a selection of the companies ISIS invests in, and the issues that they have discussed with them over the past quarter.

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--MIMEStream=_0+279360_7178402116525_2939524709 Content-Type: text/plain; charset="us-ascii" ASrIA E-Bulletin May 26, 2003 The Association for Sustainable & Responsible Investment in Asia ______________________________________________________________________ IN THIS ISSUE: ASIAN SRI NEWS 1. ASrIA Initiates "Development of SRI in Asian Emerging Markets" Project Sponsored by IFC 2. MTR Corporation Publishes Sustainability Report 2002 3. Asian Corporate Governance Study Shows Korea, Malaysia in the Lead 4. Hong Kong Stock Exchange Shake-up 5. Corporate Governance in Asia - ACCA Report 6. Kuala Lumpur Stock Exchange-PwC Corporate Governance Survey Reveals Improved Governance in Malaysia 7. First SRI Conference in South Korea 8. CalPERS Invests In Japan Corporate Governance Fund 9. HKU Survey Reveals Asian Companies Lag Behind Europe on Corporate Social Responsibility Policies 10. First Japanese CSR and SRI website 11. "Asia Pacific Labour Law Review" Released by Asia Monitor Resource Centre 12. ASrIA E-Bulletin Redesigned into Fresh 'HTML' Format 13. ASrIA Moves Office GLOBAL SRI NEWS 1. Institutional Investors Urge Transparency on Oil Deals 2. EIRIS Reveals SRI Practices of Top UK Pensions Funds 3. Human Rights Standards Raised for FTSE4Good index 4. Rebuilding Iraq: Humanitarianism Versus Opportunism 5. Strong CSR Companies on S&P Perform Better than Index Overall 6. Shareholder Coalition Led by Calvert Pushes for Computer Recycling Programs 7. Global CEOs See Environmental & Social Credibility Impacting Corporate Reputations 8. ISIS Asset Management Issues Latest Quarterly Shareholder Engagement Report ______________________________________________________________________ ASrIA INITIATES "DEVELOPMENT OF SRI IN ASIAN EMERGING MARKETS" PROJECT SPONSORED BY IFC Sponsored by International Finance Corporation (the private sector arm of the World Bank), ASrIA has initiated research into SRI in Asian Emerging Markets. Succinct reports will be produced on each Asian Emerging Market, carefully researched by our network of researchers on the ground in Asia. Each report will cover the current status of sustainable investment, other related initiatives and levels of awareness in each market. MTR CORPORATION PUBLISHES SUSTAINABILITY REPORT 2002 ASrIA member MTR Corporation recently published its second corporate sustainability report describing the company's progress towards achieving its 2002 sustainability targets and presenting sustainability targets for 2003. http://www.asria.org/news/press/1051505475 ASIAN CORPORATE GOVERNANCE STUDY SHOWS KOREA, MALAYSIA IN THE LEAD CLSA's fourth annual survey on corporate governance in Asia, released in early May, was done for the first time in collaboration with the Asian Corporate Governance Association. This study reveals that Korean and Malaysian markets have experienced the biggest improvements in corporate governance standards of any countries in Asia since 2001. http://www.asria.org/news/press/1053069841 HONG KONG STOCK EXCHANGE SHAKE-UP For the first time institutional shareholders took their opportunity to shake up the HK Stock Exchange by voting in the first investors to the board and rejecting 5 out of 8 broker candidates, 3 of whom were incumbent directors recommended by the board. The two new directors arewell-knowncorporategovernanceactivistand editor of Webb-site.com, David Webb, and Oscar Wong of BOC-Prudential Asset Management. http://www.asria.org/news/press/1050981370 CORPORATE GOVERNANCE IN ASIA - ACCA REPORT Astudy commissioned by ASrIA member Association of Chartered Certified Accountants (ACCA) which canvassed Asian chief financial officers from the top 300 companies in China, Malaysia and Singapore for their opinions on corporate governance, revealed that Asian corporate governance still focuses more on disclosure and compliance, rather than enhancing transparency. http://www.asria.org/news/press/1051863912 KUALA LUMPUR STOCK EXCHANGE-PWC CORPORATE GOVERNANCE SURVEY REVEALS IMPROVED GOVERNANCE IN MALAYSIA Thereport on a joint KLSE - PricewaterhouseCoopers Corporate Governance Survey for 2002 was launched by Malaysia's Deputy Minister of Finance in late April. The survey revealed that the corporate governance gap between Malaysia and other Asia Pacific jurisdictions like Singapore, Hong Kong and Australia had narrowed. http://www.asria.org/news/press/1051506665 FIRST SRI CONFERENCE IN SOUTH KOREA On 16th June 2003 at the National Assembly Memorial Hall in Seoul, Economy21 and Eco-Frontier will hold the First International Conference on SRI in South Korea in partnership with ASrIA. The conference will aim to raise awareness on SRI with financial institutions, the Government and the public in South Korea. It will be sponsored by Kookmin Bank and will be organised in collaboration with the Hankyoreh, the Korea Broadcasting Systems, the National Pension Corporation, the Ministry of Finance and Economy and ASrIA. http://www.asria.org/news/events/1049427271 CALPERS INVESTS IN JAPAN CORPORATE GOVERNANCE FUND The California Public Employees' Retirement System (CalPERS) will invest $200 million in The Taiyo Fund - a fund with a focus on shareholder activism aimed at turning around underperforming publicly traded companies in Japan. http://www.asria.org/news/press/1051066769 HKU SURVEY REVEALS ASIAN COMPANIES LAG BEHIND EUROPE ON CORPORATE SOCIAL RESPONSIBILITY POLICIES Twelve countries in Europe and across Asia were surveyed on their Corporate Social Responsibility policies by the Corporate Environmental Governance Programme at the University of Hong Kong. While there were some positive elements, the general picture was one where Asian companies lagged behind their European counterparts in most areas. http://www.asria.org/news/press/1053080418 FIRST JAPANESE CSR AND SRI WEBSITE Japan Research Institute launched the first comprehensive Japanese web site about CSR and SRI in Japan in March. http://www.asria.org/news/press/1051863286 "ASIA PACIFIC LABOUR LAW REVIEW" RELEASED BY ASIA MONITOR RESOURCE CENTRE Hong Kong based NGO, Asia Monitor Resource Centre has published a 400 page book covering labour laws in 30 countries in the Asia Pacific region, labour unions' and activists' responses to these laws, the effects on 'unorganised' workers who make up the largest labour sector in Asia and what it means to their daily existence. http://www.asria.org/news/press/1053488876 ASrIA E-BULLETIN REDESIGNED INTO FRESH 'HTML' FORMAT The ASrIA e-bulletin has been redesigned into a fresh 'HTML' format. We hope you like it. However, if you have any problems with receiving this format or any other comments on our e-bulletin please contact webmaster@asria.org. ASRIA MOVES OFFICE Last month ASrIA moved to another floor in the same location. Our new address is: Room 701 Hoseinee House, 69 Wyndham Street, Central, Hong Kong. Telephone and Fax numbers remain the same. ASrIA is delighted to continue sharing office space with Hong Kong think-tank, Civic Exchange. http://www.asria.org/asria/contact INSTITUTIONAL INVESTORS URGE TRANSPARENCY ON OIL DEALS As an anti-corruption move, a group of 10 UK and European institutional investors, led by ASrIA member ISIS Asset Management, issues statement calling for oil and mining companies to be more transparent about their payments to governments. http://www.asria.org/news/press/1053486188 EIRIS REVEALS SRI PRACTICES OF TOP UK PENSION FUNDS Information on how the UK's top pension funds apply SRI principles, if at all, to their investments is now available on the website of ASrIA member EIRIS . EIRIS has also published a guide entitled "How Responsible Is Your Pension?" which provides action points for pension scheme members who wish to encourage greater commitment to SRI from their pension funds. http://www.asria.org/news/press/1053341744 HUMAN RIGHTS STANDARDS RAISED FOR FTSE4GOOD INDEX ASrIA member FTSE has developed a more rigorous set of human rights standards for entry into their FTSE4Good socially responsible index. The new criteria is based on FTSE's 2002 human rights consultation exercise with corporations, fund managers, non-government organisations and private investors. http://www.asria.org/news/press/1050552742 REBUILDING IRAQ: HUMANITARIANISM VERSUS OPPORTUNISM US socially responsible funds have been looking at how to advance humanitarian efforts in rebuilding Iraq while at the same time avoid investment in profiteering companies. While social investors wish to avoid exposure to such companies, the way to do so is less clear. However several creative ways have been devised including redirection of donations to relief agencies, supporting microcredit initiatives in the Middle East, supporting nonprofit peace organisations in the region, and voicing support for constructive rebuilding efforts and opposition of opportunistic ones. http://www.asria.org/news/press/1050032280 STRONG CSR COMPANIES ON S&P PERFORM BETTER THAN INDEX OVERALL A study by US-based corporate governance ratings agency, Governance Metrics International, revealed that companies on Standard & Poor's 500-stock index, which showed leadership in corporate social responsibility outperformed the overall S&P index on several measurements including average stock price increase, return on assets, return on investment and return on capital. http://www.asria.org/news/press/1052709196 SHAREHOLDER COALITION LED BY CALVERT PUSHES FOR COMPUTER RECYCLING PROGRAMS ASrIA member Calvert Group is leading a shareholder coalition to encourage major computer manufacturers to develop world-wide computer recycling and product recovery objectives. Dell Computers is the first U.S. computer company to commit to setting global performance goals and developing a system of measurement for success of its global product recycling program. The coalition intends to seek similar commitments from computer companies including Apple, Hewlett-Packard, and IBM. http://www.asria.org/news/press/1050032465 GLOBAL CEOS SEE ENVIRONMENTAL & SOCIAL CREDIBILITY IMPACTING CORPORATE REPUTATIONS A report by Cambridge University's Business School, suggests that Fortune 500 CEOs see environmental and social credibility as having a significant impact on the future reputation of multinational corporations, and will be as important as financial credibility. http://www.asria.org/news/press/1050309293 ISIS ASSET MANAGEMENT ISSUES LATEST QUARTERLY SHAREHOLDER ENGAGEMENT REPORT ASrIA Member ISIS Asset Management's recently issued their latest quarterly shareholder engagement report, known as the ISIS reo Report. Launched in 1999, reo, the Responsible Engagement Overlay, provides a way for institutional pension funds to address ethical and environmental issues by means of engagement. This report features a selection of the companies ISIS invests in, and the issues that they have discussed with them over the past quarter. http://www.asria.or