What to do with those divested billions? The only way is ethics

Juliette Jowit
The Guardian
Originally posted March 15, 2018

Here is an excerpt:

“I would not feel comfortable gaining from somebody else’s misery,” explains company owner and private investor Rebecca Hughes.

Institutions too are heading in the same direction: nearly 80% of investors across 30 countries told last year’s Schroders’ Global Investor Study that sustainability had become more important to them over the last five years.

“While profitability remains the central investment consideration, interest in sustainability is increasing,” said Jessica Ground, Schroders’ global head of stewardship. “But investors also see sustainability and profits as intertwined.”

UBS’s Doing well by doing good report claims more than half the UK public would pay more for goods or services with a conscience. Many more people will want better ethical standards, even if they don’t want or can’t afford to pay for them.

“It’s in my upbringing: you treat others in the way you’d like to be treated,” says Hughes.

More active financial investors are also taking the issues seriously. Several have indices to track the value of shares in companies which are not doing ‘bad’, or actively doing ‘good’. One is Morgan Stanley, whose two environmental, social and governance (ESG) indices – also covering weapons and women’s progress – were worth $62bn by last summer.

The information is here.

New VP will scrutinize Harvard’s investments

$30.7b endowment has faced calls to use its clout to do good

By Todd Wallack
The Boston Globe
Originally published February 19, 2013

Harvard University, which often faces pressure from students and alumni to shed controversial investments, has agreed to create a senior position at its investment management arm to consider the environmental, social, and corporate governance aspects of its holdings.

Harvard Management Co. recently began searching for a vice president for “sustainable investing,” a relatively novel position in the world of university endowments.

“We think this is a positive step,” said Harvard College senior Michael Danto, one of the leaders of Responsible Investment at Harvard, which has pushed Harvard to adopt policies to ensure its investments are consistent with the university’s values.

The entire story is here.