Le Magazine du Trésorier - n°64 - 4ème trimestre 2008 - (Page 44)

NEWS INVESTORS SHOW INCREASING INTEREST IN SOCIALLY RESPONSIBLE INVESTMENTS Socially responsible investments combines 2 trends hitherto considered contradictory: environmental, social and governance concern with financial performance targets. This market is valued today at more than EUR 2.500 billion! Is it a fashion or a fundamental movement? Does it make sense to try to invest in “greener” funds? There are investment opportunities on the market which are socially responsible and environment focused. Many investment houses are now recognizing the link obvious between the way companies are managing environmental, social and governance issues and their longterm durability. Can they offer solutions for the future? There are emerging investments in which financial analysis is not the sole consideration. Today, there is a convergence of interest between traditional investors and the world of socially responsible investments. They are interested in more responsible investments also because they are confident of their worth. However, investors needs to know there is a solid background behind assets, sound benchmark with other non responsible investments and ways to measure social responsibility and green degree of an asset, with well-defined and commonly accepted valuation criteria. There are institutions and agencies that give these “ratings” and comfort to investors (Ethibel, Eiris, Vigeo, SAM, …). One of these non-financial criteria in the analysis is environment (together with governance and social responsibility). They analyse the environment policy, “green” initiatives, environmental management systems, suppliers and eco-efficiency, among other items. The objective of investing in companies or funds searching and developing solutions to sustai- nable development is now common to lots of investors. We can all invest “greener” or in more ethical assets. A new model for the financial community is emerging. Therefore, without sacrificing the search for profit and performance, investors are now recognizing and analyzing companies’ degree of responsibility and capacity to positively influence environment. We can contribute to environment protection by investing in such funds and assets. There are many funds labelled and rated by the organisations mentioned above, based on strict criteria.Ask your bank a list of SICAVs or funds they can propose. There are, for example, interesting funds on the market: BL-equities horizon from Banque de Luxembourg, SAM sustainable water fund, Pictet funds European sustainable equities or Dexia sustainable world. These are just few examples. There are many other possible investment opportunities in case you want to be more concerned by the ecologic character of your investments. Given the focus and need to take care of the environment, we can certainly achieve interesting performance targets while thinking “greener”. François Masquelier joint approach to dealing with reporting issues arising from the tremendous global financial crisis. They have reiterated the importance of working together and of cooperating internationally, especially on accounting problems emerging from the current credit crisis. They have of course emphasized the need for a maximum transparency and for high quality standardized reporting to help restoring market confidence. For focusing on this issue, they have decided to set up an advisory group consisting of senior leaders with broad international expertise with financial markets. They will consider how improvements in financial reporting could further enhance confidence. They will meet during public hearings, on different continents, accessible for all interested parties. In addition to short-term answers to the crisis, they will develop common solutions aimed at providing greater transparency and at reducing complexity of financial instruments accounting on the long term. They will use their joint Discussion Papers (DPs) on reducing complexity in reporting financial instruments. According to Sir David Tweedie, Chairman of the IASB, it was necessary to take further steps which could help increasing market confidence, while taking account of the broad interests at stake. They seem to be ready to explore any route to create a better transparency of reported financial information to investors. At least, they are committed. Nobody could at this stage pretend it will result in Source: Banque de Luxembourg - visit www.banquedeluxembourg.com GLOBAL APPROACH OF BOTH ACCOUNTING BOARDS TO ENHANCE MARKET CONFIDENCE (cf. Press Release published by IASB on www.iasb.org) Both, the IASB and the FASB have recently announced details on their 44 http://www.banquedeluxembourg.com http://www.iasb.org

Table des matières de la publication Le Magazine du Trésorier - n°64 - 4ème trimestre 2008

COUVERTURE
SOMMAIRE
EDITORIAL
FINANCIAL HIGHLIGHTS
INTERVIEW
FOCUS
FORUM OF ADVERTISERS
TREASURERS’ ASSOCIATIONS
NEWS

Le Magazine du Trésorier - n°64 - 4ème trimestre 2008

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