----- Forwarded Message ----- From: John Fullerton <[email protected]> To: Robert Searle <[email protected]> Sent: Monday, 27 February 2012, 23:15 Subject: Beyond Firm-Level Sustainable Capitalism To forward this email, click here. Beyond Firm-Level Sustainable Capitalism by John Fullerton and Peter Malik, Director, Center for Market Innovation, NRDC Generation Investment Management’s recently released white paper calls for a “paradigm shift” to Sustainable Capitalism. It is an admirable and important contribution to the discussion about how to make individual firms more sustainable. Beyond this effort, we need the sustainable business community to join the ongoing systems level conversation about how to make the whole global economy truly sustainable, not merely less unsustainable. Without such a systemic shift, the sum of individual firm sustainability efforts will not translate into sustainable capitalism. Read more at the Future of Finance Blog. A Conversation with Steve Waygood of Aviva Investors Capital Institute spoke recently with Steve Waygood, Head of Sustainability Research at Aviva Investors, to learn more about the advocacy work the global asset management company has undertaken to advance the cause of more transparent reporting and management of sustainability risk. Waygood also talked about how Aviva Investors has embedded sustainability practices into its own operations, his broad concerns about the flawed methodologies that are currently used to value corporate assets and profitability, as well as the role both policymakers and the private sector need to play in addressing those flaws. “The market is an engine that can create positive value,” says Waygood, “but in motivating action that destroys the environment it can also turn into destructiveness for the economy and humanity.” Read more about our conversation with Steve Waygood here. ________________________________ European Systemic Risk Board Warned of Carbon Risk Last week, John Fullerton added his signature to a letter Ben Caldecott of Climate Change Capital drafted to the European Systemic Risk Board. The aim is to collect signatures from academics, politicians, financiers and investors, raising the issue of the exposure of European financial institutions to carbon-intensive sectors and the potentially adverse impact on the financial health of investing institutions, with serious consequences for the function of the financial system possible. A similar letter was recently addressed to Mervyn King, Governor of the Bank of England. See the draft letter here. What We're Reading Al Gore and David Blood's Generation Investment Management has released a new report this week on the future of finance - and capitalism itself - in a sustainable world. With this report, Gore and Blood are pointing toward the innovation our financial tools need. Sustainable Capitalism ________________________________ Comment of the Week "We have long been sliding down the slippery slope of (1) "human exceptionalism" from honest accounting of natural capital and (2) a sense of "entitlement" to evermore cheap energy. You have correctly and logically called for the only responsible action here: draw a line in the sand - on that oil-slicked slippery slope - and begin the hard work on the transition to a sustainable energy economy." -Gerry Todd, Ending the Keystone Debate ________________________________ Quote of the Week "The Occupiers feel that capitalism and corporate-influenced governments have, for the time being, let them down. I believe they are right." -Jeremy Grantham To unsubscribe from this email list, click here. 73 Arch Street, 3rd Floor Greenwich, CT 06830 United States