Socially Responsible Investment: A Practical Guide for Professional Investors

ISBN-13: 9780471499534 / Angielski / Twarda / 2002 / 424 str.

Russell Sparkes

Opis

Over recent years there has been rapid consumer-led growth in investing in socially responsible companies to the extent that it has had an influence on corporate policies. New regulations recognise the public interest by requiring all pension funds to declare their ethical policy. Investors can no longer just consider the financial aspects of a company before investing but also have to consider the complex world of ethical investments. Should the ethical policy take precedence over the financial aspects?
Should policies be inclusive or exclusive?
What percentage of a company's income has to come from unacceptable sources before the source is excluded?
Should any exclusion policy also extend to those involved in selling or transporting goods deemed unacceptable? This is the first book to look at socially responsible investment from the perspective of the institutional investor, who will be led through the complex dilemmas of socially responsible investment with practical examples and advice.

Recenzje

" Sparkes addresses the topic logically and succinctly and appears to cover all significant considerations a useful tool for investors and managers "" (Professional Investor, November 2002)

"...While traditional ethical funds exclude sectors like tobaacco, gambling and companies using child labour, Russell Sparkes, author of the new book Socially Responsible Investment: A Global Revolution, says things are changing..." (Independent on Sunday, 24 November 2002)

" The authors, however have done a highly diligent and professional job in surveying the current banking scene in Europe " (The Tablet, 4 January 2003)

Spis treści

Foreword by Tim Smith.

Series Preface.

Preface.

Part I: Exploring Socially Responsible Investment.

Socially Responsible Investment Comes of Age.

What Is Socially Responsible Investment?

From the Beginning.

Profiling the Investors.

Screening in Practice.

Part II: Issues for Institutional Investors.

From Environmental Risks....

....To Sustainable Development.

Human Rights.

Corporate Social Responsibility.

Investment Returns.

Part III: A Global Revolution.

Information Services.

Alternative Approaches: Canada and Australia.

Into the Mainstream.

A Global Revolution.

Index.

O autorze

Russell Sparkes is recognised as one of the UK′s leading authorities on socially responsible investment, and is the first person to analyse SRI from a global perspective. He has travelled widely, meeting SRI investors around the world. He is a Senior Fund Manager for the Central Finance Board of the Methodist Church, as well as being Secretary of the Joint Advisory Committee on the Ethics of Investment for the Methodist Church. Russell Sparkes has twice served as a Director of the UK Social Investment Forum, as well as being actively involved in a number of other SRI initiatives.

Blurb

Over the past decade, socially responsible investment (SRI) has changed from being a niche market to become a core consideration for mainstream investors. As such, pension fund advisers, trustees of charitable foundations and other investment professionals want to understand this new phenomenon. Up to now they have lacked any reference book to teach them what they need to know about SRI. This gap is now filled by the publication of Socially Responsible Investment: A Global Revolution, the first book on SRI specifically written for investment professionals and their clients. The book will also help business executives and business schools looking at better corporate governance and business ethics.

Socially Responsible Investment describes how SRI has moved from fringe to mainstream on both sides of the Atlantic, and its current explosive growth rate in Asia and Europe. The book consists of three parts:

• Part One traces the historical development of the subject and analyses the different types of activity that comprise it. It also provides detailed analysis of the typical investor in SRI funds.
• Part Two describes the emerging consensus that SRI for institutional investors concentrates on four main issues: the environment, human rights, corporate governance, and financial return. Each of these subjects is covered in depth.
• Part Three concentrates on the rapid growth of socially responsible investment around the world, as it truly becomes a global revolution.

"To newcomers and veterans of the SRI movement, Russell Sparkes "Socially Responsible Investment, a Global Revolution" is a "must read". You will come away with a fresh appreciation of the history, evolution, and potential of socially responsible investing. The book is well researched. To Russell Sparkes––thank you!" Patricia Wolf, RSM, Executive Director, Interfaith Center on Corporate Responsibility

"The next few years will be crucial for the long term future of Socially Responsible Investment. Russell Sparkes timely book sets the scene very clearly for those who are shaping the agenda, but it will also be of value to people who are responding to the challenge of investing responsibly"  Helen Wildsmith, Executive Director, UK Social Investment Forum

"The Ethical Investor (1995) changed my views on what could done to harness investment to social responsibility in the UK context. This book now moves the agenda to the world stage and is essential reading for all those who can see the need to harness capitalism to SRI objectives in the post Sept. 11th world, and that after the Enron and Worldcom scandals, SRI can deliver the better world we need" Tony Colman MP, House of Commons International Development Select Committee

"The growth of SRI has been one of the most important – but often misunderstood – investment trends of the past decade. Russell Sparkes provides an invaluable analysis of the main SRI developments and issues for both professional and private investor alike, writing with true authority and insight" Stuart Bell, Research Director, PIRC Ltd

"At just the moment when the relationship between corporations and society is coming dominate political agendas, Russell Sparkes has produced an invaluable sequel to The Ethical Investor. Global in scope, Socially Responsible Investment is a practical, authoritative, readable guide that will well–serve both institutional and individual investors. Sparkes twenty plus years in the field and his understanding of cross–cultural issues give his work a unique depth and application wherever investors want to effect positive social change" Peter D. Kinder, Chief Executive Officer of KLD Research & Analytics, Inc., Boston, Massachusetts

"Russell Sparks has filled a huge need. In this magisterial volume, he has brought together the history, language and lore of shareholder activism and responsibility into coherence. For everyone searching for ways for owners to make corporations part of the solution for global problems, this book is a must read" Robert A.G. Monks, Chairman, Lens Investment Management and Publisher of www.ragm.com concerned with corporate governance and shareholder responsibility

" a useful tool for investors and managers. Not the untested ideals of someone wishing to jump on the ethical band wagon but the considered and tested observations of a successful institutional investor of conviction"

" having compared Socially Responsible Investment to an iceberg, Russell Sparkes explains many of those aspects of the subject not obvious on the surface." J E Rogers, Chief Executive, UKSIP The Society of Investment Professionals