Cary Krosinsky - Evolutions in Sustainable Investing: Strategies, Funds and Thought Leadership

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Copyright 2012 by John Wiley & Sons, Inc. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.
Published simultaneously in Canada.

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Library of Congress Cataloging-in-Publication Data:

Evolutions in sustainable investment : strategies, funds and thought leadership / Cary Krosinsky, editor ; with Nick Robins & Stephen Viederman.
p. cm. (Wiley finance series)
Includes index.
ISBN 978-0-470-88849-0 (hardback); ISBN 978-1-118-15790-9 (ebk); ISBN 978-1-118-15791-6 (ebk); ISBN 978-1-118-15792-3 (ebk)
1. InvestmentsSocial aspects. 2. InvestmentsEnvironmental aspects. 3. Social responsibility of business. 4. Investment analysis. I. Krosinsky, Cary.
HG4515.13.S87 2012
332.6dc23
2011029130

To not only the next generation, but perhaps especially two generations forwardand those beyond:

May we find a way to build a successful bridge to your future.

Acknowledgments

Many thanks are required here, but likely I will touch successfully only on some. Thanks to the thought leaders who took time out of their busy schedules to contribute to this book, including Paul Hawken, Dan Esty, Roger Urwin, et al. Your dedication to the ideals we share is valued greatly. Also great thanks to the academic institutions whose MBA students contributed to the book, including the University of Michigan, Duquesne, Presidio, Marlboro, the London School of Economics, the University of Maryland, and Columbia University. It was great to have the final chapter contribution come from Lloyd Kurtz of the Haas School at Berkeley. Lloyd was in many ways the first-ever researcher in this field. Thanks also to the peer reviewers, especially Dana Krechowicz of Sustainable Prosperity and my friend and colleague at Trucost, Dr. James Salo. Great thanks as well to Amr Addas of Concordia University for his extensive and thoughtful peer review. Amr is a member of the Core Faculty at the John Molson School of Business responsible for developing the Sustainable Investment Professional Certification (SIPC), the first certification of its kind for professionals in the finance, investment, and corporate world. I wish them every success with this groundbreaking new program. Thanks as well to my wife, Valerie Brown, who added her own thoughts and edits and put up with my efforts off hours to get this book accomplished. Thanks to the great folks at John Wiley & Sons, including Debra Englander, Susan McDermott, Jennifer MacDonald and Natasha Andrews-Noel. And thanks most of all to Nick Robins and Stephen Viederman. These two visionaries helped shape this book. Their thinking and investment philosophies are reflected throughout and are always in mind, and their ongoing insights and counsel are greatly appreciated.

About the Editor

Cary Steven Krosinsky is coeditor and author of Sustainable Investing: The Art of Long Term Performance (Earthscan, 2008).

He was a member in 2005 of the 70-person expert group that helped oversee and create the United Nations Principles for Responsible Investment.

Since 2008, he has been senior vice president in North America for U.K-based Trucost and has served as a senior advisor to the well-received Newsweek Green Rankings. Trucost maintains the only comprehensive global database that objectively quantifies the environmental impacts of public and private companies.

Cary also teaches sustainability and investing at both Columbia University's Earth Institute as well as an MBA class at the University of Maryland's Smith School of Business.

He originally worked in collaboration with Trucost in 2005 on its Sustainable City awardwinning Carbon Footprint study of U.K. portfolios and on the International Finance Corporationsponsored Carbon Counts Asia report in 2007.

Cary has a background in data management and analysis, and has served on the management committees of three data and analytics companies: Trucost, CapitalBridge, and Technimetrics.

He is a frequent speaker at universities, including the Massachusetts Institute of Technology, Columbia Business School, Darden School of Business (University of Virginia), the Northstar Initiative (University of Minnesota), and many more.

Cary's other honors and memberships include:

• Member, Circle of Advisors, Marlboro College Graduate School MBA in Managing for Sustainability Program
• Advisor, Bard College MBA Sustainability (scheduled for 2012)
• Technical Advisor, Investment Work Group, STARS (Sustainability Tracking, Assessment and Rating System) for Universities
• Member, Advisory Board, Association of Climate Change Officers
• Founder/Director, Investor Watch
• Advisor, Dwight Hall SRI Fund, Yale University