Acknowledgments
About the Editor
About the Contributors
About the Website
Introduction
Chapter 1 The Sustainability Imperative by David A. Lubin and Daniel C. Esty
Sustainability: A Business Megatrend
Getting the Vision Right
Getting the Execution Right
Building a Sustainability Performance System
Summary
Chapter 2 Jupiter Ecology by Mark L. Trevitt
The Roots of the Fund
Jupiter Ecology's Investment Process
Good Governance
Building a Following
Building on Firm Foundations
Assessing Companies for the Long-term
Voting and Engagement: Participating in the Process of Change
Finding Great Green Companies
The Fund's Performance
Chapter 3 A Predictor of Performance by Paul Hawken
Investment in Natural Capitalism
Discovering Opportunities
Identifying the Companies of the Future
Summary
Chapter 4 Highwater Global by Alexis van Gelder, Dean Martucci and Erika Kimball
Hawken Takes on Domini
Fund Drivers Based on Global Sustainable Themes
Finding Investment Opportunities
Sustainable Investing is Responsible Investing
Summary
Chapter 5 Further Context by Cary Krosinsky
The Starting Point for Measuring Sustainability
Sustainability 2.0’s Five Factors
Summary
Chapter 6 Sustainable Asset Management by Thomas O. Murtha and Ashley Hamilton
SAM's Origins and Evolution
Building a Sustainable Investing Practice: Basic Business Segments
Measuring Intangibles: Sustainability Research Methodology
The Sustainability Lens: Active Portfolio Management
SAM and Performance
SAM's Extended Family: The Dow Jones Sustainability Indexes
Sustainability Advocacy and Company Engagement
Summary
Chapter 7 Domini and BP by Colm Fay
Domini Social Investments
Safety, Environmental and Ethical Concerns
The Domini Investment Philosophy
Business Model Analysis: The KPI Alignment Model
Integrating Business Model Alignment and Stakeholder Relationship Strength
Chapter 8 The Story of Calvert by Sam Brownell and Sara Herald
An Interesting History
Calvert's People
Calvert's Methodologies: Signature, Solution & SAGE
Calvert's Performance
Summary
Chapter 9 by Amrita Vijay Kumar Winslow
Blazing a Trail
Investment Process
Performance Considerations
Summary
Chapter 10 Portfolio 21 by Ashley Hamilton
Portfolio 21: A History
Theory of Sustainability and Change
In Search of Forward-Looking Companies
The Results
Summary
Chapter 11 Northwest and Ethical Investments by Dana Krechowicz
Humble Beginnings
A New Direction
Evolving Investment Approach
Corporate Engagement Program
Key Products and Performance Over Time
Looking Forward: NEI's Merger with Northwest Funds
Chapter 12 Looking for a Green Century: Passive-Indexed versus Active Portfolio Management by Fernando Viana
Background
The Green Century Funds
The Green Century Equity Fund
Trillium Asset Management and the Balanced Fund
Trillium Asset Management Corporation
The Carbon Footprint of the Balanced Fund
Seeking Safer Packaging: The Bisphenol-A (BPA) Report
Shareholder Advocacy
Summary
Chapter 13 Pictet Water by Jenna Manheimer and Nancy Degnan
An Evolution of Investment Strategy Over Time: Original versus Current Mission
Founders and Key Decision Makers
Methodology
Metrics: What's Important and Why
Pictet's Investments
Companies Pictet Has Not Invested in, and Why
Performance Review
Summary
Chapter 14 Inflection Point Capital Management and Strategically Aware Investing by Matthew J. Kiernan
Strategically Aware Investing (SAI)
Beyond Environmental, Social, and Governance (ESG) toward a New Model of Corporate Sustainability
Portfolio Construction
Investment Process
Summary
Chapter 15 Environmental Metrics by Dr. James Salo
Theoretical and Practical Needs for Sustainable Investment
Available Data and Metrics
Challenges and Opportunities Moving Forward
Summary
Chapter 16 Crawford Chemicals: Carbon Risk Management in an Uncertain Environment by Thomas J. Nist, Pavel Yakovlev, PhD and Becky Weisberg
Crawford's Environmental Dilemma
Markets for Carbon Permits and Cap and Trade
European Union Emissions Trading Scheme (EU ETS)
The Pros and Cons of the Market for Carbon Permits
The Predicament of Sustainability in the Chemical Industry
Summary
Chapter 17 Using Statistical Tools by Sam Brownell
Understanding the Trend
Summary
Chapter 18 Barriers to Sustainable Investing by Stephen Viederman
The Missing Planet Problem
Overcoming the Barriers
Strategy and Tactics
Chapter 19 The Silent 'S' in ESG by Dan Viederman
Assessing Social Metrics to Increase Business Performance
Risk Management
Summary
Chapter 20 Sustainable Investing: A Ten Year Perspective by Nancy Degnan
The New Normal
Climate Change Mitigation
Adaptation as Key to Investment and Practice
Ecosystem Services
Making Use of Data and Findings
Summary
Chapter 21 Bloomberg by Curtis Ravenel
Providing Investor Insight and Increasing Transparency
Summary
Chapter 22 Aviva by Malte Griess-Nega and Nick Robins
Aviva's History and Investment Philosophy
Aviva's Investment Process
Portfolio Construction
Engagement Across All Asset Classes
The Reality of Thematic Investing:
Offense is the New Defense: The Responsible Supply Chain, Inditex's Defensive Business Model
Summary
Chapter 23 Generation Investment Management: Making the Long-Term Pay by Malte Griess-Nega and Nick Robins
A New Model for Global Equities
Summary
Chapter 24 Insight Investment: Reflections and Lessons Learned from Integrating Sustainability by Rory Sullivan
About Insight
Investment Research on ESG Issues
Case Study: Climate Change
Case-Study: European Electricity Utilities
Case-Study: Biofuels
Reflections/Takeaways from Case Studies
Summary
Chapter 25 China by J. Jason Mitchell
China's Resource Scarcity and its Empirical Need for Efficiency
Shaping Chinese Energy Efficiency Norms
Chinese Policy-Setting
Translating China's Environmental Policies into Industrial Opportunities
Summary
Chapter 26 Ethical Asia by Simon Powell
Reporting Is on the Rise
CSR Works When There is Alignment of Society & Company
Focuses in Asia: Labor and Environment
Summary
Chapter 27 Mitigating ESG Risk in Asian Portfolios by Lucy Carmody and Laura Dodge
The Challenge: A Lack of Disclosure
ESG integration in Asian Portfolios
Funding ESG Research
Building Institutional Capacity
The Use of Indices, Benchmarking and Screening
Summary
Chapter 28 Sustainable Investing and Canada by Dana Krechowicz and Alex Wood
The Basics
The Growth of Canada's Sustainable Investment Industry
Summary
Chapter 29 Australia: Sustainable Investing in the Land of Resources by Nicholas A.J. Taylor
Blacklisted
Background
Enter Rio Tinto
Ordinary Business Activities
Summary
Chapter 30 Sustainable Investing in the African Frontier by Graham Sinclair and Roselyne Yao
Strong Economics: The Case for Investing in Africa
Sustainability Issues in Africa
The Role of Indexes
International Exposure
Future Trends: ESG, Media Coverage, and Networks
Summary
Chapter 31 The Evolution of ESG in India by Sumantra Sen
Sustainability Issues in India
Opportunities in India's SI Market
Considering the Integration of ESG Factors
Summary
Chapter 32 Indexes by Graham Sinclair
The 'What' and 'Why' of Indexes
Index Architecture
Research Quality and Independence
Lessons from the Leading Sustainability Indexes
Company Reactions to Indexes, and Their Impacts
Summary
Chapter 33 How Asset Owners Can Achieve a Sustainable Investing Framework by Roger Urwin
The Importance of Values and Beliefs
Integrated Allocations and Targeted Allocations
Risk Factors and ESG Beta
Quantitative Methods of Risk and Return
A Monitoring Framework
Summary
Chapter 34 On Performance by Bud Sturmak and Cary Krosinsky
SRI Techniques
ESG Affects Investment Performance
Trends from Performance Reports
Summary
Chapter 35 Private Equity by Graham Sinclair
Private Equity as a Niche of General Asset Management
PE’s Fit within Sustainable Investing
DFIs Leverage of EM PE
PE-Specific ESG Methods
PE Best Practices and ESG Case Studies
Contrasting PE and Listed Equity Investors
New SI Activity in the PE Asset Class
PE Allocations Increase
Future Sustainability Themes in PE
Summary
Chapter 36 Blue Wolf: Implications for Private Equity by Adam Blumenthal and Michael Musuraca
The Challenges and Opportunities
Generating Results
A Labor Relations Coda
Summary
Chapter 37 New Business Models, Measurement and Methodologies by Howard Brown
Resources and Products versus Wealth
The Trend of Doing More with Less
Improving Overall Performance
Summary
Chapter 38 Terminology and Intention by Lloyd Kurtz
Values
Financial Performance
Fiduciary Duty: Universal Ownership
Impact
Mapping Techniques to Motivation
Summary
Conclusion by Cary Krosinsky
Appendix A Sample Curriculum
Syllabus
Appendix B Investors
Index
