The government is finally getting serious about the public’s energy concerns with the introduction of the new Feed in Tariffs, also known as clean energy cash back. This means that from April 2010 you will be paid generously for all of the energy you generate, leaving you free to choose whether to use the energy to reduce your bills or sell it back to the electricity company and thereby being paid twice.  Putting this into context, based on a standard solar photovoltaic system you would receive 36.5p/kWh through the feed in tariff, a total reduction in energy bills and an extra 5p/kwh for every unit you export. This totalled over a year could be a sum in excess of £900. Compare this to the initial investment costs and you are looking at a return of around 8% per annum, far better than the returns offered by any high street banks. Looking at the potential savings in relation to the recent ofgen report stating that the cost of energy for households is forecasted to rise by 60% over the next five years, it becomes clear that turning to renewable energy could become essential to homeowners in the future.

If you have been interested in utilizing solar power in your home but have been unsure about how and when, you should act sooner rather than later, a £2500 grant is on offer by the Government to assist with the cost of installation but is only open for a short period of time.

In the coming years the cost of energy will inevitably increase, by choosing to invest now you can take full advantage of the Governments grant and the generous Feed in Tariffs by the time your friends and neighbours are dreading their next energy bill you could be safe in the knowledge that you have a sustainable and profitable energy supply.

British Eco Ltd is an active member of Ethical Junction, learn more

Today sees the launch of a new report investigating high net worth (HNW) individuals’ perceptions of responsible investment (RI) and its implementation across the wealth management industry. The report Responsible Investment and Wealth Management: Opportunities for the future is written by RI specialists EIRIS and published in association with wealth management newswire WealthBriefing and the leading private bank Kleinwort Benson.

Based on a survey of the global readership of WealthBriefing and featuring comment and analysis from a panel of prominent RI experts, the report explodes the performance myth that responsible investments under-perform. It identifies a growing awareness of environmental, social and governance issues amongst HNW individuals and finds that the financial crisis has had a positive effect on the view that wealth managers take towards RI. Over half of wealth managers included in the survey reported that the current financial situation has lead to them taking governance issues and a potentially tighter regulatory framework into account within their clients’ portfolios.

Key findings:

• 90% of wealth managers responding to the survey said that their RI portfolios have performed the same or better than their other portfolios.


• HNW individuals are now more aware than ever of social, environmental and governance issues and how they might relate to their investments than ever before.


• The financial crisis has made 30% of respondents more likely and 60% just as likely to offer RI to their clients.


• 55% of wealth managers are more likely this year to look at governance and impending regulatory issues in their clients’ portfolios.


• Wealth managers identified a lack of clarity and information on performance as a key barrier to implementing bespoke RI solutions for their clients.


• Most HNW individual interest in RI is from the entrepreneurial community.


• HNW individuals are increasingly moving between wealth managers, making client retention challenging.


• 70% of wealth managers’ clients see a clear link between their philanthropic activity and investing in line with their philanthropic goals.

This is the third year that EIRIS has mapped out the RI landscape within the wealth management industry.  This year’s report identifies an increased demand for RI, as demonstrated by the 588 signatories who have now signed up to the UN Principles for Responsible Investment initiative, representing funds under management in the region of $18 trillion. The report finds that concerns around climate change and child labour have now become an integral part of the social landscape and examines the extent to which these and other issues are being addressed in constructing investment portfolios.

With many HNW individuals looking to mitigate risk and focus on long-term goals rather than short-term gains, the research identifies a growing number of investors seeking to understand responsible sustainable investment and the value of screened portfolios.  The study affirms the extent to which wealth managers should recognise this interest and be putting in place the necessary investment and screening options to cater for any of a client’s ethical or investment needs. The panel of RI experts were united in their agreement that as a result of the credit crisis there would be a greater focus on the importance of board structure, accountability, governance and remuneration.

It is hugely significant that RI has made such headway in recent years to include positive and negative screening elements, risk mitigation and the best of sector approaches.  The research shows that future generations expect to gain a better understanding of what their money is achieving and using RI ensures that clients’ investment activities support rather than undermine their philanthropic aims.  Solid foundations have already been laid for the implementation of RI strategies in the UK and there is firm evidence from this report to support RI as having a central role to play in the risk/return analysis of portfolios for HNW individuals.

‘Our study illustrates how the financial crisis has caused real polarisation among wealth managers. Client retention is increasingly a challenge and wealth managers can improve retention rates and gain a competitive advantage by responding to the increasing numbers of HNW individuals who are expressing an interest in responsible investment’ explained Victoria Woodbridge, Senior Client Relationship Manager at EIRIS. 

Guy McGlashan, Head of Private Wealth Management Services at Kleinwort Benson said ‘It is our job as wealth management professionals to be more proactive in the education of both private clients and charities in terms of RI capabilities.  The financial landscape has changed immensely since the demise of Lehman and we have a responsibility as wealth managers to understand not only a client’s investment outlook but also their philanthropic drivers.  We believe wealth management tools will evolve as RI takes on a significantly greater role in mitigating risk and delivering investment goals.’

A copy of the full report for 2009, entitled ‘Responsible Investing and Wealth Management: Opportunities or the future’ and retailing at £195 is available from WealthBriefing, please contact Philip Harris, on +44 (0) 207 610 8104. 

Bristol Credit Union
is well equipped to take advantage of the expected changes in credit union
legislation thanks to a subordinated loan from The Co-operative Loan Fund.

The Legislative Reform Order due to
be laid before Parliament in October will give credit unions the flexibility to
accept local community groups, companies and social enterprises into membership
and to extend membership to new groups of people, such as housing association
tenants and employees of nationwide companies. This will allow large numbers of
people to benefit from credit union services for the first time.

Bristol Credit Union is using the
loan from The Co-operative Loan Fund as resource capital that will be used to provide
members with greater lending opportunities and investment capital over the
coming years. The loan is the final part of The Co-operative Loan Fund’s
2004 initiative, in which over £200,000 was allocated to help support credit
unions in the UK.

Bristol Credit Union was developed in
2005 and 2006 through a partnership of smaller community credit unions, and it
is now proud to offer financial support to the city of Bristol and its surrounding area. The members
of the credit union share a common bond of living in and around Bristol and this
has resulted in the city becoming more inclusive, and benefitting from greater
economic activity and a lower risk of financial exclusion. There are now over 4,500
members in Bristol Credit Union, plus local organisations, landlords and advice
agencies who work alongside the credit union to benefit its savers and
borrowers.

In addition to the wide range of
savings accounts on offer, Bristol Credit Union also welcomes loan applications
from its members, who are safe in the knowledge that by law, their interest
rates will be lower than two percent per month on the reducing balance of the
loan. It is credit union policy to meet the borrowing requirements of as many
members as possible, depending on the available funds, and the loan from The
Co-operative Loan Fund will ensure Bristol Credit Union have sufficient money
to meet the needs of its investors for the foreseeable future.

Speaking about the loan, Bristol
Credit Union Chief Executive James Berry said: “Bristol Credit Union is
delighted to receive this loan from The Co-operative Loan Fund, as it
represents a vote of confidence in us and our future development plans. The
loan enables us to maintain a comfortable capital to assets ratio through an
expected period of fast growth, and helps us to develop further services for
our members, many of whom are financially excluded. Bristol Credit Union has
over 4,500 members across Bristol,
working together for mutual financial benefit. By building a strong capital
base we can help members by encouraging further saving deposits, and
investigate mortgage lending too. It is great to work with an organisation that
understands credit unions and co-operatives.”

The loan is very unusual in the sense
that it is subordinated, which means that in the unfortunate event that credit
union suffers severe financial problems, The Co-operative Loan Fund ranks below
the credit union savers on the creditors list. In addition, the credit union
only needs to make interest-only payments for 10 years and then repay the lump
sum, which relieves a lot of pressure for Bristol Credit Union.

Ian Taylor
at The Co-operative Loan Fund added: “This is the third subordinated loan
we have made to credit unions, and in the current financial climate we believe
it has come at a crucial time. The money will be used to ensure Bristol Credit
Union can support its members and help them overcome the difficult financial
times ahead. We are pleased to be able to offer our support to an organisation
such as Bristol Credit Union, which puts its member’s interests first and
promotes a strong community ethos.”

Brought to you by Social Enterprise
magazine, in partnership with the Department of Communities and Local
Government, the Office of the Third Sector and NESTA, Good Deals is
back with one bold aim: to bring together the most inspirational social
entrepreneurs with the most innovative investors to get good deals done.
Space is limited so book now to make sure you don’t miss your chance to meet over 100 social investors

The full programme can be found at www.good-dealsuk.com. Highlights include:

• Social investment: the new engine of social, environmental and economic change?
• Getting investment ready – understanding what type of finance you need, assessing risk and return, approaching investors
• Investing in communities – social impact bonds, community shares and making best use of physical assets
• The
  Good Deals pitches – social entrepreneurs will face a panel of leading
  social investors to find out if they will sink or swim. If you would
  like to be considered as a pitcher, find out more here
• Supply
  and demand – Good Deals ‘09 is in the process of handpicking a
  selection of real life examples of successful good deals. Both investor
  and investee will discuss the secrets behind their success. The names
  will be revealed shortly

As a valued reader of Social Enterprise LIVEWIRE, you can claim a 10% discount if you book before the 18th September.
Click here and enter LW09 into the ID Code box after entering your email to claim your discount

The
investors, speakers and the Good Deals team hope you’ll be able to join
us for what promises to be the landmark conference for social
investment.

Best wishes,
Deniz Hassan
Good Deals – The National Social Investment Conference
020 853 8890
conference@socialenterprisemag.co.uk
p.s. don’t forget to check out our daily social enterprise news service at www.socialenterpriselive.com

p.p.s. feel free to pass this discount onto a friend…I won’t tell if you won’t! Just click here

The Recycle
Warehouse is an online department
store that is championing the environment and fighting climate change.
Their object is to be the next John Lewis, except that every
item at The
Recycle Warehouse is made
from recycled materials. 

The Recycle
Warehouse was launched this
year by John Halladay.

‘By buying from us, you are relieving
pressure on the world’s diminishing resources. Our inventory includes
chairs made from recycled cardboard, shoes from recycled tyres and whole
dining services made from recycled glass and much more.’

Six months after its launch The Recycle Warehouse displays hundreds of items –

‘…about 400 at the moment, still
increasing, all of which are made predominantly or wholly from recycled
materials. We have a rule that the items must have at least 50% recycled
content but most are much higher.’

Although it is a distinction that John
doesn’t make on the website his goods fall into two categories. On
the one hand it is easy to see what some of his things originally were.
Take a footstool made from recycled tyres, the tread is clearly visible
around the edge. It’s funky and loud and a real conversation piece.

‘This is taking something which had
a defined use and subverting it into something that is functionally
completely different. On the other hand, some of our furniture or our
tableware bears no relationship to the original use to which its raw
material was put. People can make a statement – I’m a hardcore
environmentalist: look at my
wastebin, it’s made from crisp packets! But they can buy a bed
or dining table that’s made to their own design from reclaimed timber
by a professional craftsman, that doesn’t look any different to a
conventional, well-crafted piece.’

‘Our goal is to show that every day
goods can be made from recycled materials and that they are just as
good as new. As well as the quirky – bags made from chewing gum wrappers
or ringpulls, bowls made out of remoulded LP records – we have beautiful,
functional furniture that is handmade from reclaimed wood, including
oak and teak which you just can’t buy any more in a sustainable way; 
designer clothes made from recycled fabrics, that can’t be bought
in any High Street shops.’

Many of the goods on sale through The Recycle Warehouse are made by charities.

‘Doy Bags are one of the best
known manufacturers in the recycling market. Made by a women’s collective
in The Philippines, their bags are colourful and exciting, woven from
reclaimed fruit juice packs. We supply garden furniture made by a charity
in Oxford that employs people with learning disabilities, and we support
other charities in various parts of the world.’

It’s a quirky site that makes its environmental
message clear on every page and it isn’t above being dogmatic about
climate change. This isn’t just about profit. 

At The
Recycle Warehouse they have
simple principles:

• sustainability comes first,
  profit comes second;
• business has to lead the way
  in the war against climate change;
• recycling is an alternative
  to the exploitation of the world’s finite resources
• this isn’t commerce, this
  is a Crusade.

John Halladay is a Board Member of Friends
of the Earth and a local Greenpeace activist.

Global responsible investment research specialist EIRIS, Centre for Australian Ethical Research (CAER)
and Survival International are supporting a United Nations Principles
for Responsible Investment (UN PRI) programme to facilitate engagement
between investors and their investee companies to promote and respect
the rights of indigenous peoples around the world.

The UN PRI collaborative engagement draws on latest research from EIRIS which explores
the challenges and opportunities faced by major companies operating in
parts of the world where the rights of indigenous peoples are
threatened.¹

According
to the United Nations there are 370 million indigenous people in the
world and 5,000 distinct indigenous cultural identities in more than 70
countries. There are believed to be more than 100 uncontacted groups in the world. Although indigenous people only account for 5% of the world’s population, they account for over 15% of the world’s poor.

Companies
engaging in activities that may infringe the rights of indigenous
peoples, as enshrined within the UN Declaration on the Rights of
Indigenous Peoples, face increasing reputational risks potentially
leading to issues with access to capital, damage to brand, licence to
operate, and operational risks such as the threat of litigation and
increased regulation.

The EIRIS report Indigenous rights: risks and opportunities for investors
highlights the rights of indigenous peoples as a key human rights issue
that companies and their investors should take into account. It covers
companies operating in sectors (mining, oil & gas, agricultural
producers and forestry paper) and countries considered to be high risk
for indigenous peoples. The research also highlights key risks areas
which investors should consider when engaging with companies on
indigenous rights issues such as access to investment capital;
increased regulation; litigation and reputational risk. 

Key findings:

- Big companies at risk: 250 companies (with a total market value of GBP 1.7 trillion)
have been identified as having an exposure to indigenous rights. 17% of
companies have a high risk exposure to indigenous rights issues.

- Few companies report on indigenous rights issues: The
quality of reporting is generally poor: whilst most companies provide a
response to allegations of breaches of indigenous rights few report
voluntarily on areas of non-compliance.

- Fewer than 20% of companies have adopted a policy supporting free prior informed consent² for indigenous peoples:19%
of these companies have a corporate-wide indigenous rights policy. Only
15% of companies have a corporate-wide policy supporting free prior
informed consultation.

- Only a fifth of companies disclose employment data on indigenous people:19% of companies disclose employment data on indigenous peoples.

- Fewer than 10% of companies have a policy for involuntary resettlement:  Just over 6% of companies have a policy covering involuntary resettlement.

Given
the level of NGO and media attention to the issue of indigenous
peoples’ rights and the introduction of laws and regulation in many
countries, companies with strong commitments and effective engagement
processes will undoubtedly benefit in an environment where access to
land and resources is becoming increasingly restricted.

Stephanie
Maier, Head of Research at EIRIS said ‘Indigenous rights is a complex
issue that companies and their investors need to address and is
especially important for extractive companies as they seek to expand
and gain access to land. Our research explores the challenges and
opportunities faced by major companies operating in parts of the world
where the rights of indigenous peoples are threatened. We are very
pleased to be working with the UN PRI and Survival International on
this important area of engagement.’

Stephen Corry, Director at Survival International said ‘Investors
must use their considerable power to persuade companies to respect and
protect the rights of indigenous peoples, otherwise they risk being
charged with complicity in abuses they bankroll. As EIRIS has shown,
this vital issue is chronically under-reported by companies. The United
Nations Declaration on the Rights of Indigenous Peoples and ILO
convention 169 should be used as benchmarks for the development of
company policies on indigenous rights. Companies that fail to gain the
free, prior informed consent of indigenous communities affected by
their projects are in flagrant breach of international law.’

Bob Walker VP Sustainability at the Ethical Funds of Canada said ‘The risks from
indigenous Peoples’ opposition to specific projects is real and
material for investors. But corporations also have an enormous
opportunity to contribute to both economic and community development in
the regions where they operate.  This new research from EIRIS is a
useful addition to our toolkit for encouraging greater corporate
transparency that will undoubtedly benefit companies in an environment
where access to land and resources is coming under increasing pressure
globally.’

Click here (http://www.eiris.org/files/research%20publications/indigenousrightsjun09.pdf) to download a copy of the research report.

Press contact: mark.robertson@eiris.org +44 (0)20 7840 5741, +44 (0)7950 931313

As part of Article 13’s United Nations Global Compact (UNGC) commitments (http://www.article13.com/csr/ungc_iip_values.asp) for 2009 to ‘work against corruption in all its forms, including extortion and bribery’, we have written the first of a series of  five best practice cases studies on Transparency and Anti-Corruption (T & AC).  The aim of the case studies are to disseminate T & AC best practice and to advocate take up, to our network of partners, clients, associates and the Article 13 visitors through the use of a well recognised organisation/ brand.

This case study focuses on the Ford Motor Company’s (Ford)  T & AC
policies. To conduct this case study, there was an interview with David
Berdish, Manager of Sustainable Business Development for Ford Motor
Company who also manages Ford’s Human Rights Code of Basic Working
Conditions.

Ford is the fourth largest manufacturer and
distributor of automobiles based on worldwide vehicle sales and remains
one of the world’s ten largest corporations by revenue (www.ford.com).
The case study identifies in great depth, the following:

1.The company
2.The key drivers for change integrating T & AC
a.US legal framework
b.Globalisation
3.Transparency and Anti-corruption
a.Policies and initiatives
b.Reporting
4.Challenges to Transparency and Anti-corruption
a.Globalisation
5.Conclusion

For full case study see:
URL: http://www.article13.com/UNGC/Ford%20anti-corruption%20case%20study.pdf

Climate
change is a very high profile topic with everybody trying to jump on
the
bandwagon, and financial institutions are no exception. Ethical
investment is a
great opportunity for conscientious investors to help with the future
of our
planet, but are all the funds that claim to be ethical really committed
or are
we just seeing a token burst of green wash?

www.investing-ethically.co.uk

You
might think climate change is the single biggest issue facing us, and
perhaps
you agree that it needs a huge financial input to even scratch the
surface of
the problem. If you are thinking about doing your bit by investing in a
climate
change fund, you may be surprised if you look below the surface and
discover
just how ‘green’ some of these funds really are.

‘Climate
change’ is a broad term that is applied to any fund that claims to be
investing in companies that have something to do with tackling climate
change
issues. They range from very general funds that invest in almost
anything
(including arms and tobacco) as long as it has a suitably strong
recycling
policy, to very specific funds that invest only in one specific part of
one
specific sector such as renewable energy.

They
are different from traditional ethically screened funds because they
are not
concerned with negative screening or engagement. They positively
screen, some
very specifically whilst others are very vague.

To
throw a little light on this subject, we have reviewed 12 climate
change funds
and revealed some interesting facts:

8
out of these 12 funds invest in the nuclear industry – claiming that
its
better the world doesn’t fry, even if it means risking another
Chernobyl!

One
invests in BAE Systems, presumably on the basis that they are
developing less
environmentally harmful bombs.

One
fund even has the following negative comment:

• “Extremely
  inclusive fund with exposure to arms, tobacco, mining as well as
  nuclear – 10% of fund goes into companies that could be deemed to be
  connected to climate change in any meaningful sense.
• Short
  track record.

• Very high (and
  unreasonable!) ongoing costs with the performance related fee

The
best performing fund was the Schroder’s Global Climate Change fund
- the worst the Guinness Alternative Energy Fund with a 44%+ difference
in the returns.

So
are climate change funds “ethical funds” in the traditional sense?
Not really, but perhaps they fall into the “Socially Responsible
Investment” camp. The jury’s out on this one so we suggest you
judge for yourself.  We’ve made the report available on our web site
(www.investing-ethically.co.uk)
and I’d be very interested in your comments.

The
Bristol Vegan Fayre May 30^th
and 31^st
2009

Now
in its 7^th
year, the Bristol Vegan Fayre continues to be the biggest vegan
gathering anywhere in the world, with record crowds expected for this
year’s event after the near sell out 2008 show which saw over
11,000 visitors over the 2 days

Organised
by Bristol based firm Yaoh, The BVF 09 is once again an eclectic mix
of all things vegan, with 100 stalls including 20 caterers with vegan
food from all over the globe, plus 40 talks and cookery demos over
the weekend, and an amazing line up of entertainment for the whole
family.

The
acoustic stage sees a variety of musical talent throughout the
weekend including acts such as Bristol jazz combo Kev & Mike’s
Groovy Thing and local legends Dub From Atlantis, plus headliners
SohoDolls on Saturday, right opposite the onsite licensed bar. There
is also a performance stage in the amphitheatre with Brazilian
Dancers and Sikh swordsmen amongst others, and the Kids Area is
rammed to the rafters with an assortment of magic shows and workshops
for the nippers

But
The Main Stage once again grabs the headlines with some truly
excellent acts on later in the day – The Saturday line up is
definitely party time with The King Blues on the Main Stage at 5pm,
with Ian Dury’s band The Blockheads headlining Saturday at 9pm.
Sunday sees reggae uberstar Horace Andy (famed for his work on the
Massive Attack albums) take the stage at 7pm along with his band Dub
Asante, with Macka B fresh from headlining last years St Pauls
carnival live on stage Sunday 5pm.

The
show starts at 11am both days and runs to 10.30 pm on Saturday and
8.30 pm Sunday. Tickets each day are £8 in advance, £10 on the gate
before 5pm and £12 after 5pm. Kids under 12 come in for £4 each
day, and babies under 12 months come in for free. For advance tickets
go to www.yaoh.co.uk/catalog
- also available from The Bristol Ticket Shop

The
event website is www.bristol.veganfayre.co.uk

Contact
Yaoh on 0117 9239053 or email info@yaoh.co.uk

Thanks
to all our sponsors including Bute Island, Beanie’s, The Vegan
Society, Off The Hoof, VitaMix, VeggieSnow, Mad Promotions,
VeggieVision, Foods For Life, Shakeaway, Community Foods, Kingfisher
Toothpaste and Excellart

Trusts
and foundations should consider environmental, social and governance
(ESG) risks and opportunities in their investments to safeguard value
and protect the interests of future beneficiaries -according to new
research released today by the EIRIS Foundation.

Sustainable returns: The value of environmental, social and governance factors for Foundation investments
examines why issues such as climate change and corporate governance
pose financial risks and opportunities for trusts and foundations.

Despite
their role in supporting pioneering social and environmental projects
through grants, many trusts and foundations are still lagging behind
other asset owners when it comes to responsible investment. This can
lead to significant conflicts between mission and investments. 

The
financial crisis has highlighted the risks that all investors,
including trusts and foundations, are exposed to. It has underlined the
importance of responsible ownership and long-term investing which
require accountability, transparency, and the consideration of
‘extra-financial’ research in the investment process.

The
EIRIS Foundation’s new report sets out why these principles make sound
financial sense for trusts and foundations. It explores the growing
body of evidence to show how the integration of ESG risks and
opportunities into investment can safeguard and enhance value for
shareowners.

The paper also highlights the following steps
that trusts and foundations should take to ensure they are managing
investments in a responsible and sustainable way:

1) Agree a position on responsible investment
2) Research investment manager’s expertise and practice in ESG integration
3) Include ESG integration in the investment mandate
4) Join collaborative initiatives, such as the Carbon Disclosure Project
5) Vote shares on ESG related issues
6) Engage with companies directly or via investment managers
7) Invest in sustainability-themed funds such as greentech, microfinance or timber
Invest in responsible investment funds that use ESG integration

Report
author Sam Collin, Charity Adviser at the EIRIS Foundation, said
‘Responsible investment is nothing new – some charities have been doing
this for decades. There is compelling evidence that ESG issues have a
financial impact and this shouldn’t be ignored by trusts and
foundations. This fits clearly with the fiduciary duties of trustees
and with Charity Commission guidance. Trusts and foundations that fail
to take ESG  issues into account could be seen as acting imprudently
and failing to secure their long term financial sustainability.’

Alastair
Hanton, Chair of the EIRIS Foundation, added ‘The integration of ESG
factors into investment processes is now recognised by the mainstream
as a way to enhance value – as demonstrated by the $18 trillion worth
of signatories to the United Nations Principles for Responsible
Investment. It’s not enough to just assume that ESG issues are being
integrated into the investment process. Acting as responsible owners,
trusts and foundations should question and encourage their asset
managers to adopt and implement best practice in responsible
investment.’