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Asking Mutual Funds To Consider Climate Change

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via Eybeam reBlog: 

A group of United States-based NGO's and consumers is petitioning the three largest mutual fund companies in the US to consider the financial impacts of global warming. Fidelity, Vanguard, and American Funds recently received petitions and letters asking them to begin addressing the economic risks of climate change by supporting global warming shareholder resolutions filed with U.S. companies. "In 2005, none of the three mutual fund companies supported such resolutions, which typically request that firms disclose the financial risks and opportunities of global warming and describe their strategies for managing those challenges". The strategy is well conceived, because mutual fund companies themselves have no expertise for directly assessing the potential impact. The best they can do is ask the companies they include in their portfolios to provide some insights into how climate change might shape the long range performance of their stock. Just asking the question is step one. Step two is designing a fund based on the collective strength of its members to mitigate climate change. More about the organizing NGO's after the fold.

(This post continues on the site) Originally from Treehugger, ReBlogged by Yury Gitman on Mar 30, 2006 at 09:38 AM