Archives for posts with tag: ethical investment

BFOE’s community share offer closes on June 2nd

Birmingham Friends of the Earth own The Warehouse in Digbeth, operating it as a not-for-profit business whilst campaigning for the improvement of the local environment. They want to raise investment capital to refurbish their building, which will lead to an increase in the financial, social and environmental value of that space:

  • there will be more space to let that is of a higher quality; this will allow them to increase the amount of space they provide and to maintain or increase the amount they charge per square foot for that space;
  • they will be looking to exceed the legal requirements (Building Regulations Part L) for conserving energy in their building by installing more insulation and more efficient glazing;
  • and they will be more accessible to wheelchair users and people with limited mobility and offer more community meeting facilities. The work will also allow them to reduce administration costs and focus more on meeting their social goals.

See the video and read the well-produced share offer summary complete with plans. Then:

  1. Invest! If you are able to please invest whatever you can between £250 and £10,000. If you have some money in an ISA earning 0.5% interest it could be doing a lot of good. If you know you are going to invest, please do so as soon as possible as this helps them to demonstrate it’s a viable prospect with gathering momentum
  2. Tell everybody you can about it – when you’re campaigning and in your everyday life. Friends, relatives, colleagues, rich uncles – there are a lot of people that would like the chance to make an ethical investment, the challenge they have is getting the word out to enough people. It’s not a donation so they’re not asking people to give them their money, it’s an investment
  3. Support the social media campaignshare, like, retweet anything you see about the share offer – this will help them to reach as many people as possible.

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This news was sent by Aldo Mussi, Tutor-Activist in Health Promotion/Public Health, Public Health teaching team Birmingham City University. He writes:

“Climate change is not only a pressing public health, ecological and justice concern – it’s increasingly a financial worry. With fossils fuels increasingly seen as a liability, the shift by investors away from this old technology is growing”.

At the end of 2016 Arabella Advisors reported that 688 organizations ― including some charities, faith-based groups, universities and local governments ― and 58,399 individuals across 76 countries have committed to pulling their money out of oil, gas and coal companies.

In keeping with that trend, in November 2015 Aldo had welcomed reports that BCU was in the top 16 of British universities which had started ‘divesting’ from fossil fuels. (The top 10 were divesting completely, while the fund managers for BCU and others were merely fleeing tar sands & coal (the dirtiest fuels). Others have joined the trend since then, but BCU is still in the top 25% of universities who have made the move.

People & Planet (a national network of student eco-societies) publish a ‘green league table’ of British universities, and in the 2016 results, it’s good to see BCU placed 31 out of 150 institutions (top of the list of those awarded a ‘2.1’, but frustratingly just missing out on a ‘First’).

Birmingham City University People & Planet University League 2016 Scorecard:

1. Environmental Sustainability; Policy and Strategy 100

2. Human Resources for Sustainability 40

3. Environmental Auditing & Management Systems 100

4. Ethical Investment 0

5. Carbon Management 35

6. Workers Rights 15

7. Sustainable Food 60

8. Staff and Student Engagement 20

9. Education for Sustainable Development 35

10. Energy Sources 31

11. Waste and Recycling 76

12. Carbon Reduction 78

13. Water Reduction 50

Aldo comments, “A quick look at BCU’s scorecard (below) raises an obvious question: If we are at the forefront of divestment, why did we score a zero for ‘Ethical Investment’? It turns out that People & Planet’s criteria depend largely on being able to audit an institution’s published policies, including an Ethical Investment policy. BCU had not yet published one, so that counted against us. Interestingly, had it been published, our partial divestment would have counted for a score of 5% – possibly enough to push us up into a ‘First’ next time? It seems that BCU management may be addressing this in the near future, so I’m hoping I’ll be able to report even better news soon…”

 

 

 

In this brave new world, ‘predominant concern should be the pursuit of a financial return on investments’

Donald Macintyre reports on ministerial consultations, preparing new procurement guidelines to stop town halls operating “municipal foreign and defence policies” through “politically motivated boycott and divestment campaigns… against UK defence companies and against Israel”.

He points out that a 2007 survey of local authorities showed that they were investing £300m in BaE alone and cites a press release issued by Conservative Central Office about Leicester City Council, which is facing an application by local Jewish groups for judicial review in the High Court of their boycott of goods from West Bank settlements.

Planned amendments to the Local Government Pension Scheme Regulations 2009 are designed to “make clear to authorities that in formulating these policies their predominant concern should be the pursuit of a financial return on their investments… They should not pursue policies which run contrary to UK foreign policy.”

richard burdenBirmingham Northfield MP, Richard Burden, said he would challenge ministers on this “bluntly crass” and “potentially anti-democratic” policy when the Commons returns in January.

The requirements in the city’s Business Charter for Social Responsibility – currently being reviewed with a view to strengthening its ethical elements – include suppliers’ compliance with the Universal Declaration on Human Rights.

Mr Burden said that the wider issue was that it would prevent councils from pursuing positive goals, such as community cohesion, environmental sustainability and human rights, in line with the best practice of the progressive private sector.

“It’s called corporate social responsibility. The right ethical investment decisions in the long term are often also the right business decisions.”