Real-world guidance for investment professionals on delivering attractive risk-adjusted and opportunity-directed returns across asset classes and regions Filled with interviews with leading practitioners, this book weaves a narrated web around best sustainable investment practices, guiding readers specifically on investing their assets and with specific sustainability trends in mind, such as increasing constraints on global resources.* Offers a clear road map to success by some of the most respected names in the field* Includes interviews with leading practitioners* Clearly explains how to get sustainable investing done Evolutions of Sustainable Investing is a practitioner's book specifically laying out how this positive investment philosophy is being practiced, leaving the more negative approaches of socially responsible investing behind. This book is essential for any investor limited by old strategies that disregard a changing world of diminishing resources, an increasing global population as well as the market advantage now being experienced by the most efficient, innovative global companies.
Acknowledgments xix About the Editor xxi About the Contributors xxiii Introduction xxxv CHAPTER 1 The Sustainability Imperative 1 David A. Lubin and Daniel C. Esty Sustainability: A Business Megatrend 1 Getting the Vision Right 3 Getting the Execution Right 4 Building a Sustainability Performance System 6 Summary 8 Note 9 CHAPTER 2 Jupiter Ecology 11 Mark L. Trevitt Roots of the Fund 11 Jupiter Ecology's Investment Process 12 Good Governance 16 Building a Following 17 Building on Firm Foundations 18 Assessing Companies for the Long Term 19 Voting and Engagement: Participating in the Process of Change 20 Finding Great Green Companies 21 Fund Performance 24 Notes 25 CHAPTER 3 A Predictor of Performance 27 Paul Hawken Investment in Natural Capitalism 27 Discovering Opportunities 28 Identifying the Companies of the Future 30 Summary 32 CHAPTER 4 Highwater Global 35 Alexis van Gelder, Dean Martucci, and Erika Kimball Hawken Takes on Domini 36 Fund Drivers Based on Global Sustainable Themes 38 Finding Investment Opportunities 38 Sustainable Investing Is Responsible Investing 44 Summary 45 Notes 46 CHAPTER 5 Further Context 47 Cary Krosinsky Starting Point for Measuring Sustainability 48 Sustainability 2.0's Five Factors 49 Summary 51 Notes 51 CHAPTER 6 Sustainable Asset Management 53 Thomas O. Murtha and Ashley Hamilton SAM's Origins and Evolution 54 Building a Sustainable Investing Practice: Basic Business Segments 56 Measuring Intangibles: Sustainability Research Methodology 57 Sustainability Lens: Active Portfolio Management 62 SAM and Performance 63 SAM's Extended Family: Dow Jones Sustainability Indexes 66 Sustainability Advocacy and Company Engagement 74 Summary 76 Notes 77 CHAPTER 7 Domini and BP 81 Colm Fay Domini Social Investments 83 Safety, Environmental, and Ethical Concerns 84 Domini Investment Philosophy 84 Business Model Analysis: Key Performance Indicator Alignment Model 85 Integrating Business Model Alignment and Stakeholder Relationship Strength 87 Notes 90 CHAPTER 8 The Story of Calvert 91 Sam Brownell and Sara Herald Unconventional History 91 Calvert's People 93 Calvert's Methodologies: Signature, Solution, and SAGE 96 Calvert's Performance 102 Summary 105 Notes 106 CHAPTER 9 Winslow 107 Amrita Vijay Kumar Blazing a Trail 107 Investment Process 108 Performance Considerations 112 Summary 112 Notes 113 CHAPTER 10 Portfolio 21 115 Ashley Hamilton Portfolio 21: A History 116 Theory of Sustainability and Change 117 In Search of Forward-Looking Companies 119 Results 120 Summary 121 Notes 122 CHAPTER 11 Northwest and Ethical Investments 123 Dana Krechowicz Humble Beginnings 124 New Direction 124 Evolving Investment Approach 126 Corporate Engagement Program 128 Key Products and Performance over Time 130 Looking Forward: NEI's Merger with Northwest Funds 131 Note 132 CHAPTER 12 Looking for a Green Century: Passive-Indexed versus Active Portfolio Management 133 Fernando Viana Background 134 Green Century Funds 134 Green Century Equity Fund 135 Trillium Asset Management and the Balanced Fund 136 Trillium Asset Management Corporation 137 Carbon Footprint of the Balanced Fund 140 Seeking Safer Packaging: The Bisphenol-A Report 140 Shareholder Advocacy 141 Summary 144 Notes 144 CHAPTER 13 Pictet Water 145 Jenna Manheimer and Nancy Degnan Evolution of Investment Strategy over Time: Original versus Current Mission 147 Founders and Key Decision Makers 148 Methodology 149 Metrics: What Is Important and Why 150 Pictet's Investments 151 Companies Pictet Has Not Invested in, and Why 153 Performance Review 154 Summary 155 Notes 155 CHAPTER 14 Inflection Point Capital Management and Strategically Aware Investing 159 Matthew J. Kiernan Strategically Aware Investing 161 Beyond Environmental, Social, and Governance toward a New Model of Corporate Sustainability 162 Portfolio Construction 163 Investment Process 164 Summary 167 Note 167 CHAPTER 15 Environmental Metrics 169 James Salo Theoretical and Practical Needs for Sustainable Investmen
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