Investors Propose Sustainability Listing Standard for Stock Exchanges

While the number of companies producing sustainability reports is increasing, inconsistent and insufficient reporting hampers the integration of sustainability issues into investment decisions, according to the Investor Network on Climate Risk (INCR), a network of 100 institutional investors representing more than $11 trillion in assets.

To create a minimum global standard for sustainability reporting, INCR and NASDAQ OMX, the world’s largest exchange company, are working with other stock exchanges and investors to develop a global sustainability listing standard that would allow investors to compare companies on their environmental, social, and governance performance.

The proposed listing standard was a focus of the Ceres 2013 conference earlier this month in San Francisco, where investors, companies and public interest groups gathered to discuss ways to accelerate and expand the adoption of sustainable business practices.

At the conference, INCR and NASDAQ representatives discussed the process for advancing sustainability disclosure with a packed room of investors and companies. They emphasized the importance of engaging with investors and other stock exchanges globally.

The proposed listing standard is described in an April 2013 consultation paper. Based on feedback to the consulting paper, NASDAQ and INCR will develop recommendations to present to stock exchanges and to the World Federation of Exchanges General Assembly and Annual Meeting in October 2013.

The consultation paper was prepared in response to dialogue with NASDAQ and other stock exchanges by the INCR Listing Standards Drafting Committee, which includes representatives of Rockefeller & Co. Sustainability & Impact Investing Group
, Boston Common Asset Management
, Pax World Management LLC
, Domini Social Investments LLC, BlackRock
, F&C Management Ltd., British Columbia Investment Management Corporation, and AFL-CIO Office of Investment
.

 

 

 

 

 

Zayed Future Energy Prize To Award $4 Million To Clean Energy Innovators

Lifetime Achievement Nominations Due July 22

Company/NGO Applications Due August 5

 

By Heather Rosmarin

 

The Zayed Future Energy Prize is a $4 million annual award launched in 2008 to recognize individuals, companies, organizations, and high schools making a significant impact in the fields of renewable energy and sustainability. The annual award celebrates achievements that reflect impact, innovation, long-term vision and leadership in finding solutions to conserve energy, cut greenhouse gas emissions, and increase the production of clean, renewable energy.

 

Online submissions by organizations are due by August 5, 2013. Nominations for lifetime achievement are due by July 22, 2013.

 

The total prize fund of $4 million is allocated among the following categories:

 

  • Large corporation: Recognition award (no monetary value)
  • Small and medium enterprise (annual revenues < $100 million): $1.5 million
  • Non-governmental organization: $1.5 million
  • Lifetime Achievement Award: $500,000
  • High schools: $500,000 divided into $100,000 across (up to) five regions (Africa, Asia, Americas, Oceania, and Europe).

 

You can read about the past winners of the prize here. The 2012 Lifetime Achievement Award winner was Dr. Ashok Gadgil, Director of the Environmental Energy Technologies Division of Lawrence Berkeley National Laboratory, and a Professor of Civil and Environmental Engineering at UC Berkeley.