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<DIV dir=ltr><FONT size=2 face=Arial>----- Forwarded Message -----<BR><B><SPAN style="FONT-WEIGHT: bold">From:</SPAN></B> John Fullerton <jfullerton@capitalinstitute.org><BR><B><SPAN style="FONT-WEIGHT: bold">To:</SPAN></B> Robert Searle <dharao4@yahoo.co.uk> <BR><B><SPAN style="FONT-WEIGHT: bold">Sent:</SPAN></B> Monday, 27 February 2012, 23:15<BR><B><SPAN style="FONT-WEIGHT: bold">Subject:</SPAN></B> Beyond Firm-Level Sustainable Capitalism<BR></FONT></DIV><WBR>
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<TD style="BACKGROUND-REPEAT: repeat" bgColor=#f2f4f6 colSpan=2><A href="http://www.capitalinstitute.org/sites/all/modules/civicrm/extern/url.php?u=783&qid=79272" rel=nofollow target=_blank><IMG src="http://www.capitalinstitute.org/sites/capitalinstitute.org/files/images/logo.preview.png" width=590></A></TD></TR>
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<div><FONT color=#111111 size=5 face=calibri><B>Beyond Firm-Level Sustainable Capitalism<BR></B></FONT><FONT color=#333333 size=2 face=calibri>by John Fullerton and Peter Malik, Director, Center for Market Innovation, NRDC</FONT></div>
<div><FONT color=#333333 size=2 face=calibri>Generation Investment Management’s recently released white paper calls for a “paradigm shift” to <A style="TEXT-DECORATION: none" href="http://www.capitalinstitute.org/sites/all/modules/civicrm/extern/url.php?u=800&qid=79272" rel=nofollow target=_blank></I></FONT><FONT color=#5987c6><I>Sustainable Capitalism</A>. 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.</FONT></div>
<div><FONT color=#333333 size=2 face=calibri><FONT color=#333333 size=2 face=calibri>Read more at the <A style="TEXT-DECORATION: none" href="http://www.capitalinstitute.org/sites/all/modules/civicrm/extern/url.php?u=801&qid=79272" rel=nofollow target=_blank></FONT><FONT color=#5987c6>Future of Finance Blog</A>. </FONT></FONT></div></TD></TR>
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<div><FONT class=yiv2039549442Apple-style-span color=#111111 face=calibri><SPAN style="FONT-SIZE: x-large" class=yiv2039549442Apple-style-span><B>A Conversation with Steve Waygood of Aviva Investors</B></SPAN></FONT></div>
<div><FONT color=#333333 size=2 face=calibri>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.”<BR><BR>Read more about our conversation with Steve Waygood <A style="TEXT-DECORATION: none"
href="http://www.capitalinstitute.org/sites/all/modules/civicrm/extern/url.php?u=799&qid=79272" rel=nofollow target=_blank></FONT><FONT color=#5987c6>here</A>.</FONT></div><BR>
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<div><FONT color=#333333 size=2 face=calibri><FONT class=yiv2039549442Apple-style-span color=#111111 face=calibri><SPAN style="FONT-SIZE: x-large" class=yiv2039549442Apple-style-span><B>European Systemic Risk Board Warned of Carbon Risk</B></SPAN></FONT></FONT></div>
<div><FONT color=#333333 size=2 face=calibri>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 style="TEXT-DECORATION: none" href="http://www.capitalinstitute.org/sites/all/modules/civicrm/extern/url.php?u=796&qid=79272" rel=nofollow target=_blank></FONT><FONT color=#5987c6>A similar letter</A> was recently addressed to Mervyn King, Governor of the Bank of England. <A style="TEXT-DECORATION: none" href="http://www.capitalinstitute.org/sites/all/modules/civicrm/extern/url.php?u=797&qid=79272" rel=nofollow
target=_blank></FONT><FONT color=#5987c6>See the draft letter here</A>.</FONT></div></TD>
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<div><FONT color=#eeeeee size=3 face=calibri><B>What We're Reading </B></FONT><BR><BR><FONT size=2 face=calibri><FONT color=#cccccc>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.</FONT><BR></FONT></div>
<div><FONT size=2 face=calibri><FONT color=#5987c6 size=2 face=calibri><A style="TEXT-DECORATION: none" href="http://www.capitalinstitute.org/sites/all/modules/civicrm/extern/url.php?u=798&qid=79272" rel=nofollow target=_blank></I></FONT><FONT color=#5987c6><I>Sustainable Capitalism</A></FONT></FONT></div>
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<div><FONT color=#eeeeee size=3 face=calibri><B>Comment of the Week</B></FONT></div>
<div><FONT size=2 face=calibri><FONT color=#cccccc>"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."</FONT></FONT></div>
<div><FONT size=2 face=calibri><FONT size=2 face=calibri><FONT color=#cccccc>-Gerry Todd,</FONT> <A style="TEXT-DECORATION: none" href="http://www.capitalinstitute.org/sites/all/modules/civicrm/extern/url.php?u=785&qid=79272" rel=nofollow target=_blank></FONT><FONT color=#5987c6>Ending the Keystone Debate</A></FONT></FONT></div>
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<div><FONT size=2 face=calibri><FONT size=2 face=calibri><FONT size=2 face=calibri><FONT color=#eeeeee size=3 face=calibri><B>Quote of the Week</B></FONT></FONT></FONT></FONT></div>
<div><FONT size=2 face=calibri><FONT color=#5987c6><SPAN style="FONT-FAMILY: calibri; COLOR: rgb(204,204,204); FONT-SIZE: small" class=yiv2039549442Apple-style-span>"The Occupiers feel that capitalism and corporate-influenced governments have, for the time being, let them down. I believe they are right."</SPAN></FONT></FONT></div>
<div><FONT size=2 face=calibri><FONT size=2 face=calibri><FONT size=2 face=calibri><FONT color=#5987c6><FONT color=#5987c6><FONT color=#cccccc size=2 face=calibri>-Jeremy Grantham</FONT></FONT></FONT></FONT></FONT></FONT></div><FONT size=2 face=calibri><FONT size=2 face=calibri><FONT size=2 face=calibri><FONT color=#5987c6><FONT color=#5987c6><FONT color=#cccccc size=2 face=calibri><A style="TEXT-DECORATION: none" href="http://www.capitalinstitute.org/sites/all/modules/civicrm/extern/url.php?u=789&qid=79272" rel=nofollow target=_blank></FONT></FONT></FONT></FONT><FONT color=#cccccc size=2 face=calibri><FONT size=+0><FONT color=#cccccc size=2 face=calibri><FONT size=+0><BR></A></FONT></FONT></FONT></FONT></FONT></FONT>
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