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Celebrating the 10th anniversary of the Dow Jones Sustainability Indexes. Questions? Comments? Email dowjonesindexes@dowjones.com
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Mar 16, 2010
Representing research parks that contain 200,000 companies worldwide, the International Association of Science Parks is set to hold their global conference May 23 in South Korea. The focus? Green Global Growth, or "G3" for short. G3 means "economic growth built upon a positive response to environmental issues and a partnership for growth founded in global cooperation," notes Chung Un-Chan, the honorary chairman of IASP 2010. "Taking the global consensus that has emerged about the need for green growth, we can develop green technologies, commercialize them and create new industries based upon those technologies. The great value of this process is... Continue reading
120 LEED-certified buildings are expected to tower over the Songdo International Business District, South Korea's new sustainable city project, reports Current.com. Sinking more than $30 billion across 1,500 acres, the city is designed to be 40% "open, green space, park and golf course, and the city will be easily traveled by foot and mass transit." There are a dozen artist conception shots after the jump, and Songdo.com posted a video on YouTube giving a flyover tour of their sustainable city of the future. Continue reading
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On October 20, Dow Jones Indexes, SAM and Korea Productivity Center (KPC) hosted a launch event and press conference at the COEX Intercontinental, Seoul for the DJSI Korea and DJSI Korea 20 indexes. The red-carpet launch event was attended by CEOs and other top management of each of the 41 index component companies. More than 20 journalists attended the press conference (see coverage here), which was also covered by several local TV stations. Speakers included Edoardo Gai, Head of Sustainability Services at SAM; John Prestbo, Editor and Executive Director of Dow Jones Indexes; Choi Dong-Kyu, Chairman and CEO of KPC... Continue reading
South Korea was one of the 150+ countries marking the "Day of Action" organized by 350.org on Saturday, October 24. The event was a global call for the world's CO2 levels to be reduced to 350 parts per million. 350.org picked up this notable report from a youth leader associated with the UN Environmental Program's Tunza Network. "I am currently in Seoul and I just got back from the 350 action at the Ddukseom market, where 60 youth leaders with the UN Environment Program's Tunza network have been connecting with the thousands of people at the market about 350 and... Continue reading
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Take a look at this interesting story from Renewable Energy Magazine. The United Nations Environmental Program (UNEP) issued a study that examines where countries rank in allocating their recession recovery funds towards green initiatives. South Korea has "79% of its total economic recovery spending earmarked for green initiatives." That compares to 34% for China and 21% for Australia. "France, Germany and the US finish off the top five, with each nation committing less than 20%." In its press release, the UNEP states "Governments need to Seal the Deal at the crucial UN climate convention meeting in Copenhagen in December as... Continue reading
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This past June, South Korea hosted the ASEAN (Association of Southeast Asian Nations) conference on Seogwipo, Jeju island in recognition of the country's 20th year as a member of the economic group. Green growth was high on the organization's agenda, and President Lee presented his "Low Carbon, Green Growth" plans (see previous post). As reported in the Korea Times, Lee stated, "Twenty years have passed since Korea established diplomatic relations with ASEAN. Today's summit between entrepreneurs from Korea and ASEAN provides us with an important opportunity to chart out new plans for common growth...We need to increase cooperation in three... Continue reading
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Cutting reliance on fossil fuels from 83% to 61%. Boosting nuclear power production from 36% to 59%. And growing global market share in renewable energy from 0.7% to 15%. These are just some of the goals that the South Korean government laid out in 2008 in its roadmap to the year 2030. According to the Japan Economic Foundation, the improvements are slated to save $34.4 billion in energy imports and create 950,000 jobs. Here's a link to the press release, and related coverage from EcoSeed, Korea Times and the Guardian. You can also read the president's committee on green growth... Continue reading
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Top Five Holdings: Samsung Electronics: 10.27% KB Financial Group: 10.16% POSCO: 9.68% Shinhan Financial Group: 9.66% LG Electronics: 4.6% Top Five Sectors: Financials: 23.2% Basic Materials: 17.2% Consumer Goods: 13.6% Industrials: 11.5% Technology: 8.7% Utilities: 8.7% A list of all of the components, values and methodology for building the index can be found here. Continue reading
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Dow Jones Indexes, SAM and the Korea Productivity Center (KPC) launched two new sustainability indexes last night. The Dow Jones Sustainability Korea Index (DJSI Korea) tracks the stock performance of the top 30% (of the 200 biggest) companies in South Korea in terms of sustainability -- accounting for long-term economic, environmental and social criteria. The index currently includes 41 sustainability leaders. The second index, called the DJSI Korea 20, measures the performance of the 20 largest companies in the DJSI Korea. To celebrate the launches, we'll take the next two weeks to explore and discuss sustainability in South Korea. Video... Continue reading
The New York Stock Exchange hosted a panel discussion yesterday on what the future holds for corporate social responsibility. Our own John Prestbo took part, along with Bryan Boyd, VP of Worldwide Environmental, Health and Safety, Johnson & Johnson; Bennett Freeman, SVP for Sustainability Research and Policy, Calvert Investments; and Brian A. Rice, Investment Officer, CalSTRS. You can watch the video here (registration required). Continue reading
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Keynote speaker Richard Sandor, Chairman of the Chicago Climate Exchange, addressed the progression of value creation post World War II. In the Sixties it was manufacturing; in the Seventies, oil; the Eighties, commoditization of various financial assets like derivatives, and in the Nineties, commoditization of information. “In the 21st century, [value creation] will be marked by the commoditization of air and water. That’s nothing more than sustainability, to preserve a planet, put a price on public goods and be sure they are rationed appropriately…. This is cap and trade,” said Sandor. “I owe my life and dreams to sustainability,” he... Continue reading
To kick off the evening, the three companies behind the Dow Jones Sustainability Indexes welcomed the crowd of approximately 120 sustainability leaders. Sander van Eijkern, CEO of SAM, noted that, “We have come a long way and a great number of investors now share our idea that sustainability is part of the fiduciary responsibility when accounting for investment decisions. There is an increasing body of investment and scientific studies pointing out the relationship between sustainability and long term investment.” John Prestbo, Editor and Executive Director of Dow Jones Indexes, reflected to the audience that in the early days, “Sustainability was... Continue reading
What better way to celebrate the 10th anniversary celebration of the Dow Jones Sustainability Indexes than to get the perspective of David Moran, the first president of Dow Jones Indexes. Reflecting back on how far the Index has come, he shared, “As an index provider, we were always interested in looking at markets from a variety of prisms; one doesn’t just look at size, assets, or income, but a corporation’s intention to be a social actor. When we started the sustainability index, it was a small idea that turned out to have incredibly long legs that has created great traction... Continue reading
Richard Littlemore, co-author of the book Climate Cover-Up: The Crusade to Deny Global Warming, said that his interest in sustainability was first stoked when he was a 10-year-old living in Kingston, Ontario. "You could stand at the side of Lake Ontario and see the outline of a ship that was sunk on purpose during the war of 1812. When I was 16, you could stand in four feet of water in the exact same place and not see your own feet. The water just degraded just that quickly. That was when I realized that whatever we doing, it was not... Continue reading
The DJSI event has brought together many of the pioneers of the sustainability sector. For Richard A. Liroff, Ph.D., founder of the Investor Environmental Health Network, his interest first took root while working at the World Wildlife Fund for 25 years. While there Richard worked on public policy issues like toxic chemicals and decided to engage companies on the size of their toxic footprint. At his company “we’re trying to redefine how investors look at toxic chemical issues. They need to be concerned about increased regulations in Europe and the U.S. Companies like Wal-Mart, Toys ‘R’ Us recognize that the... Continue reading
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We're thrilled to have Carina Molnar, who blogs over at CUNY Institute for Sustainable Cities, liveblogging with us tonight. Watch for her interview with John Prestbo, Editor and Executive Director of Dow Jones Indexes, later this evening. Carina has a BA in International Affairs with a focus in Sub Saharan Africa and Sustainable Development from the University of Colorado at Boulder. She is currently pursuing her MA in International Affairs with a focus on Cities and Urbanization at the New School University. Her research interests are ecological services and valuation—with a focus on urban forestry, and environmental justice for vulnerable... Continue reading
The celebration of the 10th anniversary of the Dow Jones Sustainability Indexes has begun! As the crowd begins to mingle on the outdoor terrace of the Weston Pavilion at the Museum of Natural History, several attendees were happy to share their views about sustainability investment. One of the biggest misconceptions about it is that “many people consider the process as one of negative screening or they tend to focus just on the environmental side, rather than its integration with the social and governance aspects,” said Shin Furuya, lead research analyst, Asia Pacific, for Domini Social Investments. “Sustainability is not just... Continue reading
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The reading list for sustainability is getting mighty long. More than 51,000 books come up in a simple search on Amazon. So as an experiment, we're going to crowdsource a reading list -- scratch that -- THE reading list. Step 1: Over the next week, send us the list of your top three favorite books on the subject. They can focus on the economic, social or environmental aspects of sustainability, historical or future-looking, explicitly about investing or not. Your choice. Step 2: At the end of the week, we'll set up a poll on this blog listing the top 50,... Continue reading
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It’s not every day that a person recognized as a “Hero of the Environment” by TIME Magazine offers his thoughts on what’s ahead. But then again, not every day is September 22nd. Dr. Sandor is the Chairman and Founder of the Chicago Climate Exchange, the world’s first and North America’s only voluntary, legally binding integrated greenhouse gas emissions reduction, registry and trading system and Chicago Climate Futures Exchange. He also serves as Executive Chairman of Climate Exchange plc. (CLE.L), an AIM-listed company which owns CCX and CCFE and the European Climate Exchange, Europe’s leading exchange operating in the European Union... Continue reading