Issue 1, November 2008
This is RIAA, broadcasting to you live from our new Sydney headquarters on level 6 in the BNP Paribas Building at 60 Castlereagh St.
Welcome to the first edition of our bi-monthly newsletter, RIAA Window, which has been designed specifically to allow our members and stakeholders to share information about important industry trends and events.
To this end, wed like your contributions on a range of topics including recommended research, job vacancies, product innovation and important events. In upcoming editions we will concentrate on developments in our nations capital around RI and of course we will also keep you posted on what weve been involved with here at RIAA.
You will notice that we have chosen a very plain banner and layout for the newsletter. We hope that this bears no reflection at all on the content, but we believe this approach will help us escape the ubiquitous spam filters and unsightly little red crosses.
We want RIAA Window to be useful and relevant to you as an RI practitioner, so we welcome any suggestions or feedback you might have. Please dont hesitate to contact us at info@responsibleinvestment.org
Kind regards, Louise OHalloran, Executive Director Responsible Investment Association Australasia
> Required Reading: RIAA Academy launches its Business Plan
> Hot off the press….Responsible Investment 2008
> Strong Words from Government on ESG Integration
Required Reading: RIAA Academy launches its Business Plan
We strongly urge you to read the newly released Business Plan of the RIAA Academy which can be found here. RIAA has been working hard over the last six months to develop the Plan which outlines how RIAA’s dedicated RI education and training program will function. The Academy is the first of its kind in the world and this is your chance to get involved. Find out how you can make a difference and how the RIAA Academy can benefit you. Send your enquiries and comments to info@responsibleinvestment.org.
Through the Academy, RIAA has been participating in the sustainable infrastructure debate. In late October, the RIAA Academy, together with the Australian Conservation Foundation and the Australian Institute of Superannuation Trustees, hosted a roundtable discussion aimed at drawing out information that could be provided to Infrastructure Australia on how ESG issues can be better integrated into infrastructure investments. Attendees included top level representatives from a range of industry superannuation funds, superannuation trustees, infrastructure fund managers, infrastructure operators and Federal Government. The discussion was lively and many ideas were put forward under Chatham House Rules. This roundtable provides a basis for further collaboration to find solutions to Australia’s infrastructure challenges and a valuable knowledge pool for the RIAA Academy’s planned educational sessions on infrastructure investment.
Hot off the press….
Responsible Investment 2008
The 8th Annual Benchmark Report commissioned by RIAA was released on 6 November. The report found that broad responsible investment grew 8% from $52.8bn to $57.1bn reflecting an increase in the assets of fund managers that have integrated ESG factors into their investment process and institutions that have adopted corporate engagement strategies.
At the fund level, during the year to 30 June 2008, core responsible investment funds under management fell by 7%. By comparison, total investment management of all types fell 9%. The main reason for these falls was negative market performance. On a more positive note, RI managed funds in the Australian shares, overseas shares and balanced growth categories outperformed the average mainstream fund over the three and five year periods to 30 June 2008.
Click here to read the report.
Donald MacDonald, Chair of the UNPRI, rocked the delegation of the 6th Annual Responsible Investment Conference by questioning how responsible investors could have failed to see the financial crisis coming. His presentation can be viewed here.
AXA’s Raj Thamotheram took the opportunity to launch the Network for Sustainable Financial Markets which is based on seven principles. The fourth is that “market participants be held accountable for their actions”. His presentation and those of other speakers can be viewed here.
To view a collage of photos click here.
Strong Words from Government on ESG Integration
The importance of integrating ESG issues into financial and investment decision making has been the topic of several keynote speeches by prominent politicians in recent months.
Nick Sherry, Minister for Superannation and Corporate Law focussed considerable attention on ESG investment issues in his speech to the Committee for Economic Development of Australia on 9th October. Click here for his speech.
Prime Minister Kevin Rudd highlighted the need to consider ESG issues when prioritising the nations key infrastructure projects at the Australian Davos Connection meeting in Brisbane on 7th October. Click here for his speech.
Peter Garrett, Minister for the Environment, Heritage and the Arts pointed out that a failure to consider ESG issues leads to a misinformed market during his address at the launch of the RIAA Academy on 19th August. Click here for his speech.
Translating Global Reporting Initiative (GRI) guidelines into practice was the subject of an announcement by the Federal Government at the end of October. The Rudd government is providing $2 million to fund a collaboration between Australia’s St James Ethics Centre and GRI. Click here to read more.
Latest Responsible Investment Research
Several valuable research reports have recently been published covering a range of RI issues. We have selected a handful that we believe have particular relevance for investors in our region. For example, the UN’s global report on Food and Agriculture could not be more timely.
If you wish to share details about your latest responsible investment research in RIAA Window, please click here.
What’s New – Product Overview
Each edition of RIAA Window will highlight new products in the marketplace by providing a quick and easy checklist of characteristics such as who manages the product, whether it is for retail or wholesale investors, what are its ESG considerations, and whether it is RIAA certified.
If you have a new responsible investment product that you would like to share with our readers please contactanthonyl@responsibleinvestment.org for a copy of the questionnaire and we’ll publish your responses in the next edition of RIAA Window.
We would like to extend a warm welcome to the organisations and individuals who have joined RIAA this year. If you would like to become a RIAA member, please click here.
Fund Managers Albany Capital Investors BNP Paribas Investment Partners Dalton Nicol Reid Eureka Funds Management Highland Good Steward Management ING Investment Management KBC Asset Management Methodist Church of New Zealand Souls Funds Management UC Invest Vanguard Investments Super Funds Cbus Equity Trustees Superannuation Statewide Superannuation Trust
Community Bank Members Equity
Religious Institutions Sisters of Saint Joseph
Dealer Groups ANZ Financial Planning
Financial Advisers James Baird, JustInvest Financial Planning Stuart Barry, Financial Life Planners Annette Blanch, Bendigo Bank Andrew Gaston, Accord Financial Solutions Belinda Rayment, Peter G. Clarke Consulting Richard Whan, Lighthouse Investments
Consultants Australian CleanTech Ecos Corporation KPMG
NGOs Matana Foundation for Young People
Individuals Dennice Allen Paul Beckmann Peter Cohn Michael Josephson Kassia Klinger Orija Yusuf Ogundijo Ron Patrick Ben Spruzen Anne Whittaker
Congratulations to all those who have been awarded RIAA certification this year. RIAA’s certification symbol demonstrates that responsible investment product and service providers have adopted educational and disclosure practices relevant to their licence category. If you would like information on certification click here.
Fund Managers CVC Sustainable Investments Dalton Nicol Reid
Super Funds Australian Christian Superannuation Catholic Superannuation & Retirement Fund Equity Trustees Superannuation
Financial Advisers Andrew Gaston, Accord Financial Solutions Mark Lowe, Tandem Financial Advice Karen McLeod, Global Financial Services Group Sam Pitruzzello, Engage Consulting Group Belinda Rayment, Peter G. Clarke Consulting Mick Steffan, Specialist Financial Planning Mark Tindale, Ord Minnett Private Wealth Brent Wall, Wall Financial Services
NGOs WWF-Australia
Do you have a job vacancy that you would like to post in RIAA Window? Click here.
13 – 14 November 2008, Amsterdam
TBLI Conference Europe 2008
Triple Bottom Line Investing
25% DISCOUNT FOR RIAA MEMBERS! TBLI is the leading annual ESG and SRI networking and learning event in Europe. Last year’s event in Paris was the largest annual event on ESG, with over 500 participants. This year’s European Conference will focus on gathering momentum and getting ready for the upcoming changes in world climate – from an environmental, socio-economic and political perspective. Can you afford to miss this opportunity to broaden your scope and contacts? You are invited to discuss and brainstorm with experts about latest developments in a global and European context. Click here for details.
18 November 2008 (Melbourne) and 20 November 2008 (Sydney)
Carbon Ethics – Who Wins, Who Loses?
Green Capital
With the recent release of the Federal Treasury’s financial modelling of the impacts of the government’s proposed Carbon Pollution Reduction Scheme, Green Capital has organised this debate. Placing a price on carbon pollution marks a landmark change for Australia’s economy, its society and its environment – who wins, who loses? Download registration form here.2 December 2008 (Sydney) and 4 December 2008 (Melbourne)
Showcasing the Best Investment Thinking
Investment Management Consultants Association
35% DISCOUNT FOR RIAA MEMBERS! This event is the Investment Management Consultants Association’s (IMCA) Annual Conference. This year the focus will be on the application of innovative techniques of risk management and portfolio construction in today’s volatile investment environment. The keynote address will be given by Tim Costello, CEO of World Vision Australia. Click here to register and find out more.
13-15 July 2009, Sydney
International Corporate Governance Network (ICGN) The ICGN convenes the worlds premier international event on corporate governance each year in a different host country. The Australian Minister for Superannuation and Corporate Law, Nick Sherry, has welcomed the hosting of the conference in Sydney reflecting Australias commitment to high standards of corporate governance. The 2009 ICGN Annual Conference will bring together investors, directors, policy makers and stakeholders in a dialogue with a focus on practical action. The event is expected to attract around 500 delegates from over 45 countries. Click here for more information.
16-17 July 2009, Sydney
PRI in Person
United Nations Principles for Responsible Investment
This conference will be presented by UNPRI. Keep an eye out for the next edition of RIAA Window for more details.30 November – 11 December 2009, Copenhagen
Climate Conference
United Nations Framework Convention on Climate Change
In 2012 the Kyoto Protocol to prevent climate changes and global warming runs out. To keep the process on track there is an urgent need for a new climate protocol. The Copenhagen Climate Conference 2009 will see the parties of the United Nations Framework Convention on Climate Change meet for the last time at government level before the climate agreement needs to be renewed. Click here for more information.If you would like to post an event in RIAA Window click here.
And another thing…
The RIAA Team has settled into its fantastic new office space which has been so generously sponsored by BNP Paribas. We would like to offer a special thank you to Rob Harrison for this tremendous support. And of course we would also like to take a moment to pay tribute to Hunter Hall Investment Management, and in particular David Buckland and Ouafaa Karim, for their accommodation support over the past four and a half years. For those of you who have not visited us yet, we are just one floor above where we were, so it was the easiest move on record.
If you havent already, please check that you have our new contact details: Level 6, 60 Castlereagh Street, Sydney NSW 2000 P 61 2 9025 5711 F 61 2 9025 5720 E info@responsibleinvestment.org W http://www.responsibleinvestment.org
