In the next few months, S&P plans to release a socially screened stock index developed for a “major index mutual fund company.” The index will be in the public domain, meaning that any mutual fund company can offer a fund based on it. This index will be number 9 in the S&P family of indexes.
The Vermont Fair Tax Coalition, a coalition of business, consumer and environmental organizations, has released the report, Tax Reform that Agrees with Vermont. It presents an overview of environmental tax shifting, analyzes tax shifting options for Vermont, and presents an inventory of the states environmental taxes, fees, and incentives. The report suggests reducing or eliminating the property, sales, personal income, and payroll taxes in return for increasing, for example, the motor fuel tax, the solid waste tax, creating a motor vehicle feebate program and a carbon tax on fossil fuels in Vermont. In a recent statewide Vermont poll, 93 percent of participants expressed support for tax reform that would help protect clean air and water, and about 88 percent supported tax reform that would help control sprawl style development. A tax shift bill was defeated by just one vote recently in Vermont House of Representatives. For a copy of the report: http://www.foe.org/envirotax/vermonttaxreport.html To read the Tax Shift Bill: [sorry this link is no longer available]
Nationwide, solar electric companies are experiencing a spike in sales attributed partly to Y2K jitters. Solar Electric Systems of Kansas City notes that Y2K has put solar on the radar screen for back-up power. Golden Genesis Co. of Scottsdale, AZ reports a 40 percent increase in sales for 1998 as several thousand more customers purchased solar systems; this year, sales are on track to increase another 70 percent. The company advertises 1,100-watt solar electric systems for $1,599 – enough to power lights, a refrigerator, entertainment systems, and a computer during short power outages.
In a breakthrough shareholder action, 28 percent of Chevron shareholders voted in favor of requiring the company to track its greenhouse gas emissions and assess the resulting financial liabilities. Exxon, Ford, GM, Allegheny Power and Reynolds face similar actions. Last year, a comparable measure at Exxon carried 7.6 percent of shareholder vote. The resolution, sponsored by investors representing major religious groups, asked Chevron to document actions by the company or its trade associations “promoting the view that the issue of climate change is exaggerated, not real, or that global warming may be beneficial.” The Chevron vote indicates significant concern among investors but it is not legally binding. The vote constitutes 183 million of Chevron’s 650 million voting shares. “This vote should make companies like Exxon and others very nervous,” said Sister Patricia Daly, of the Sisters of St. Dominic of Caldwell, New Jersey. “Like Chevron, they must start factoring global warming into their long term plans or risk being outpaced by more forwarding-looking competitors.”
Join business and social entrepreneurs for intensive, interactive inquiries into how to face the day-to-day challenges of growing a business with socially conscious values. This program is an opportunity to fine tune business strategies, gain insight into solving business problems and implement “best practices” as well as to forge long lasting relationships with business peers and mentors. Founded by Gary Hirshberg, CEO of Stonyfield Farm, the Social Venture Institute offers participants the opportunity to present their most difficult business challenges to peer reviewers. Take the “hot seat” and present your case to the group in one of three theme areas: * Business Financing: Raising Equity and Debt Capital * Overcoming Sales and Marketing Challenges * Managing Organizational Change The institute is directed toward CEOs, senior managers and entrepreneurs from for-profit companies and non-profit organizations. Enrollment priority will be given to second stage entrepreneurs. June 10-12, Hampshire College Amherst, MA Sept. 8-12, Hollyhock Cortes Island, British Columbia Nov. 7-9, Marconi Conference Center, Marin County, CA Visit the Social Venture Network website for details: http://www.svn.org
The Global Environmental Facility (GEF) approved over $18 million to support Suriname in its creation of one of the worlds largest tropical forest wilderness reserves. The funding will support the management of the four million acre (1.6 million hectare) Central Suriname Nature Reserve and create conservation- based economic opportunities such as ecotourism. “The Suriname project is an outstanding example of the kind of visionary, yet practical, partnership the GEF seeks to support,” said Mohamed T. El-Ashry, CEO and chairman of the GEF. “It underscores Suriname’s initiative and commitment to making conservation part of its economic development strategy, as well as the important role of non-governmental organizations at the community level.” Part of the forest area within the reserve was formerly targeted by international logging companies, which sought concessions in some 11 million acres. Suriname harbors more rain forest than all of Central America combined. The Central Suriname Nature Reserve is part of the Guyana Shield, one of the world’s most undisturbed tropical wilderness areas extending across the southern Guianas, southern Venezuela and adjacent parts of Brazil. These forests have at least 75 percent of their original forest cover and many, like Suriname’s, are still in pristine condition, virtually uninhabited and […]
The Swedish parliament approved 15 environmental goals to achieve sustainable development within one generation – as promised by prime minister Gran Persson in 1997. The goals cover: — achievement and maintenance of clean air, — clean groundwater, living lakes and waterways, — a sea in balance and a living coastline, — balanced use of fertilisers, — absence of acidification, — living forests and healthy mountain ecosystems, — a good built environment, — a poison-free environment, — absence of radiation, a protective ozone layer, and limited climate effects. The next step is to flesh out specific targets and action programs related to each goal, so that a final strategy is in place by June 2000. The strategy will cover the period to 2020, but will contain interim goals for 2010 and earlier. The goal related to chemicals policy is particularly far-reaching; all products sold in Sweden by 2020 will be free from carcinogenic, teratogenic and endocrine-disrupting substances. Persistent or bioaccumulative substances will be banned. Chemicals will be evaluated in generic groups rather than on the current substance-by-substance basis. Last year, Austria, Denmark, Finland, the Netherlands, and Sweden agreed on a common position on chemicals. Sweden is taking the lead by elucidating […]
A recent analysis by the Union of Concerned Scientists concludes that the great majority of consumer environmental impact is linked to cars, food choices, household appliances and lighting, home heating and cooling, home construction, and household water and sewage. Based on these findings, they have published a book, A Consumer’s Guide to Effective Environmental Choices and created the Great Green Web Game. The latter is an engaging, animated “board game” that tests your knowledge of these categories. The questions are thought-provoking and sophisticated, and change each time you play the game. Even I got some of the answers wrong and got only a 84% total score. For example, what type of refrigerator is the least energy-efficient? — side-by-side models — top-freezer models — bottom-freezer models [sorry this link is no longer available]
International Environmental Consulting Practice: How & Where to seek Global Opportunities, is a new book published by John Wiley & Sons. It guides environmental consultants in establishing an international practice and examines the issues, treaties and agreements one will encounter. As the highest priority environmental problems get addressed in industrialized countries, the need for environmental experts is shifting toward developing nations. The chapters are very thorough and include: Preparing for International Environmental Consulting Practice; International Partnership and Joint Venturing; Proposals, Contracts, Bidding and Negotiating and International Consulting Market Opportunities and Prospects. Email the author, Peter Sam: Sam.Peter@epamail.epa.gov You can order the book through Amazon.com or Barnes & Noble
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, is the world’s largest multilateral source of debt and equity financing of private sector projects in developing countries. A beautifully published manual by IFC, A Good Practice Manual, guides corporations, consultants, and stakeholders though the process of effective public disclosure. The manual is tailored to assist companies working in developing and emerging economies. World Bank Bookstore by phone (703) 661-1580; Fax (703) 661-1501 Reference Stock no. 14342
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