Stylus/Earthscan - Sustainable Investing: The Art of Long Term Performance

Sustainable Investing

The Art of Long Term Performance

Edited by Cary Krosinsky , Nick Robins

Hardback: 978 1 84407 548 5
Price: $38.95

Publisher: Earthscan Publications Ltd.
November 2008 , 240 pp., 6 1/8" x 9 1/4"
figures & tables
Series: Environmental Markets Insight Series

With climate change now clearly on the horizon, the imperative of sustainability is starting to transform the world's capital markets. Already billions of dollars, pounds, euro and yen are being managed with a view to environmental, social and governance factors. Evolving out of the ethical, socially responsible investment (SRI) and responsible investment waves, sustainable investment involves the conscious integration of extra-financial factors into strategies for generating long-term financial returns. In essence, sustainable investment is fast becoming the smart way of generating long-term returns. With conventional investors now scrambling to factor in issues such as climate change, business ethics and human rights, sustainable investment represents a turning point in the evolution of global finance.

Written by international leaders in SRI, ethical and sustainable investment from Wall Street and the City, this accessible, fast-moving, information-packed book covers the full breadth and depth of sustainable investment. Topics include a thorough explanation of sustainable investment, its history, evolution and mainstreaming; how to select sustainable companies and investments including screening criteria, indices and indicators; investment analysis and performance; the changing corporate landscape towards Corporate Social Responsibility (CSR) and environmental sustainability; and changes in capital markets. A final section looks at future risk, and the possibilities for sustainable investment to actually encourage corporate survival—as well as potential investor returns going forward—in this era of pending climatic change. Invaluable reference sections provide further information including: a fluency guide to terms and acronyms such as SRI and Cleantech, key international initiatives for corporate sustainability, international rating agencies, a directory of SRI funds and firms, sustainability indices on the DOW and FTSE and more.

This is the essential insider guide for thoughtful investors, fund managers, business leaders and consultants seeking to lead the front end of the sustainability curve for both superior returns and a positive constructive future in this new era of climate and global environmental change.

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Reviews & Endorsements:

"Sustainable investing is an approach to investing driven by the long- term economic, environmental, and social risks and opportunities facing the global economy. It can also encompass elements of ethical investing, responsible investing, and clean technology investing. In this book, international contributors chart the emergence, evolution, and future prospects of sustainable investing, and look at sustainability across other asset classes. Some specific topics discussed are fixed income and microfinance, sustainable and responsible property investing, the global agenda (with focus on China and India), and lessons learned from the carbon emissions markets. A glossary is included. Appendices collect various initiatives and resources on sustainable and responsible investing. Krosinsky is vice president, North America, of Trucost Plc. Robins is head of the HSBC Climate Change Center of Excellence."
- Book News Inc

"This collection by two dozen investment professionals focuses on sustainable resource use and sustainable investing. The material is divided into four sections: "The Rise of Sustainable Investing," "Confronting New Risks and Opportunities," "Sustainability across the Other Asset Classes," and "Future Directions and Trends." Critical to sustainable investing are externalities (and environmental issues), which are increasingly being evaluated. Contributors identify pressures for sustainable investing emanating from stakeholders and investors in many forms: legal, ethical, professional, and best practice. Market adjustments do occur when returns are positive; the current recession will provide a true test of sustainable returns. This volume is meant to reflect investing over the long run, but today's worldwide financial liquidity crisis is causing reevaluations of the time adequate for evaluation. Evaluation of sustainability requires consideration of what time span distinguishes short-term fluctuations from long-term trends. (For a carefully documented, critical study of environmental and resource issues, see academic statistician Bjqrn Lornborg's The Skeptical Environmentalist, CH, Apr'02, 39-4560.) Accessible to all readers, Sustainable Investing provides a good overview of the topic, along with investing strategies and opportunities. See related, Matthew Kiernan's Investing in a Sustainable World: Why Green Is the New Color of Money on Wall Street (CH, May'09, 46-5135). Summing Up: Recommended. Personal investors, practitioners."
- Choice

"Sustainable Investing is a good read for managing your portfolio."
- Gail Whitman , Nature, International Weekly Journal of Science

“This splendid compilation of articles, plus a to be treasured Glossary from Mercer, provides up to date analyses of virtually the entire spectrum of socially related investment possibilities. The field is in a rapid state of change – Steve Viederman’s lovely piece on the Fiduciary remains a constant guide – I recommend to everyone that you buy and read this book. Without it, you are playing yesterday’s game.”
- Robert A.G. Monks , shareholder activist, one of the founders of the field of corporate governance, and author of Corpocracy and The New Global Investors, and co-author of Watching the Watchers, Corporate Governance and

"As the roles of business and the capital markets shift to directly address global challenges, practitioners can no longer ignore the growing momentum in sustainable investing practices. This book fills an important gap in pulling together the best thinking from the experts in the field. An excellent overview of past learnings, current best practice and future trends."
- Cheryl Hicks , Focal Point, Capital Markets & Valuation, World Business Council for Sustainable Development and Co-Founder, Sustainable Finance Geneva

"This is a significant contribution to a rapidly growing field; the editors have brought to the public important themes and thought-provoking arguments on topics that will dominate the twenty-first century. This is a must-read book for practitioners and investment analysts alike."
- Gordon L Clark , Halford Mackinder Professor of Geography and Director, Oxford University’s Centre for the Environment

“An excellent volume that puts sustainable investing front and center in the debate about building a more equitable global economy and providing retirement security for working people. “
- Michael Musuraca , Designated Trustee, NY City Employees Retirement System

"Cary Krosinsky and Nick Robins have managed to assemble a unified publication that brings to light the financial innovation occurring on a massive scale for the planet. From carbon to water and microfinance to private equity, Sustainable Investing has put forth an image of the world where capital markets have the potential to provide solutions to our most pressing environmental problems."
- Bryan Garcia , Center for Business and the Environment at Yale School of Forestry and Co-Editor of Carbon Finance: Environmental Market Solutions to Climate Change

“’Sustainable investing” has lacked a rigorous, systematic examination – until now. Nick Robins and Cary Krosinsky have assembled authors expert in their disciplines who collectively describe a dynamic force which is both effecting change and being affected by it. A generation of investors will look first to Robins & Krosinsky for answers about sustainable investing.”
- Peter D. Kinder , President & Founder, KLD Research & Analytics, Inc

"If you want to understand how finance can offer practical solutions for sustainable development - rather than being criticized for being an obstacle - read this very clear, comprehensive and persuasive book."
- Antoine de Salins , Executive Director, FRR (Fonds de Réserve pour les Retraites)

"From sin stocks to cleantech, ESG to GHGs, portfolio tilt to the prudent man rule, Krosinsky and Robins guide the reader through a rapidly shifting landscape of risk and opportunity. Essential reading, whether you are an investor, a CEO or simply someone wanting to enjoy both a pension and a world fit for future life."
- John Elkington , co-founder of ENDS, SustainAbility and Volans, and co-author of The Power of Unreasonable People

"Sustainable investing is vital for the future of our planet. This book richly deserves to be read by everyone in the investment community - and many beyond."
- Rob Lake , APG Investments, the Netherlands

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