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The £6.58m Guinness Alternative Energy C fund continued its top ranking amongst UK Registered funds over the past year to 31 October 2013 with an improving cumulative +94.44% performance (+77.63% in year to end September 2013).

But over the past three- and five-year time horizons this fund posted a -18.72%/140th rank and -8.19%/119th rank, respectively. Sarasin Sustainable Equity USA P US$ fund scooped the runners up spot over the past year to date with +44.17% versus +39.27%/15th rank over three years - from the £34.1m KBI Institutional Alternative Energy A EUR fund with +43.95% (-6.17% over past three).

SUNARES bottom ranked in this sector out of 154 funds with a -37.51% return over the last 12 months versus -48.63% over past three years, while PIMCO GIS Socially Responsible EM Bond Inst US$ fund came second bottom with -2.82% - against +13.95% over the last three years.

In US Mutual funds sector, Firsthand Alternative Energy fund outpaced the pack over the past one year with a +91.25% performance, followed by the $26.89m Guinness Atkinson Alternative Energy fund with an improving +81.60% and the $269.86m Eventide Gilead N fund in third spot with +53.53%. The latter ranked No.1 over the past five years with a quite stunning +197.39%.

The sector’s bottom five funds were tightly bunched: Calvert Tax-Free Bond A at -3.71% to GuideStone Funds Inflation Protected Bond GS4 at -6.28% on a past one-year view.

LSF Asian Solar & Wind A1 fund took top spoils in the European Funds sector over the past year on an improving +181.03% performance out of 1,111 funds, but compared less than favourably to its -28.62% (999th rank) over a past three-year horizon. MAP Clean Technology Fund I was runner up for the past year (+97.74%), followed by Guinness Alternative Energy A fund with +85.75% versus a -15.21%/988th rank over the last three years. Triodos Vastgoedfunds propped up the sector with a fairly static past one-year performance of -40.98% (-46.68% over past three).

The UK Individual Pensions sector displayed the best peer group average (cumulative return) over both one and three-year periods at +27.37% and +38.43%, respectively. Top ranked fund for this sector over the past 12 months was Skandia/Ecclesiastical Amity European Pension fund with +39.26% versus +27.51% (87th rank) over the past three years. Over the past five-year horizon the US Mutual Funds sector turned in the best peer group average performance with +86.53%.

Ten global health organizations have joined together in a worldwide campaign to protect consumers from the dangers of fake medicines.

According to the Fight the Fakes campaign, in some areas of Asia, Africa and Latin America fake medicines may account for up to 30% of medicines in circulation. In Africa, one-third of all malaria medicines are probably fake and it is estimated that one medicine in two purchased on illegal Internet sites that hide their physical address is fake.

"Fake medicines are one of the biggest threats to global public health. You have people, everywhere in the world, they only think about the money, their profits and don't think about the consequences – they don't think about public health. It's a global problem and we all need to come on board in fighting together, and once we're able to do that we are going to make some real strides globally in fighting counterfeit medicines," commented Dr. Stephen Opuni, chief executive of the Ghana Food and Drugs Authority.

Picture credit: © Radu Razvan Gheorghe | Dreamstime Stock Photos

The Turkish stock exchange, the Borsa Istanbul, is to partner with EIRIS, the global responsible investment research provider, to develop the BIST Sustainability Index, which will be launched in early 2014.

Borsa Istanbul listed companies will be assessed against a set of environmental, social and governance (ESG) indicators and those companies that perform better than the required criteria will be included in the new index.

The methodology to underpin the research for the new BIST Sustainability Index draws on EIRIS' 30 years of experience in the field of responsible investment and sustainability research. Assessment of corporate performance for the new index will be based on publicly available information against chosen ESG indicators that are derived from EIRIS' Global Platform, an innovative and intuitive platform for sustainability data.

The criteria include bribery, governance, human rights, biodiversity, health and safety, and climate change, amongst others. BIST 30 Index constituents will be included in the first assessment and BIST 50 Index constituents will be assessed in the second assessment.

EIRIS works with a number of stock exchanges around the world, including the Johannesburg Stock Exchange in South Africa and the Bolsa Mexicana de Valores in Mexico.

Picture credit: © Alessandro Terracciano | Dreamstime Stock Photos

Sainsbury's new supermarket in Leicester is one of two 'Triple Zero' stores the retailer has just opened.

It is the high street chain's most environmentally friendly store to date with ‘Triple Zero’ meaning zero carbon emissions from all operational energy used; zero waste to landfill; and zero impact on the water usage of the local catchment area (because of its 'Water Neutral' status).

Neil Sachdev, Sainsbury's property director, commented: "We aim to be the UK's Greenest Grocer and achieve our 20x20 target to reduce our operational carbon emissions by 30 per cent absolute. To do this we're now building and running highly sustainable, low carbon stores.

"Our new 'Triple Zero' stores in Leicester and Weymouth Gateway are examples of how we're achieving this, by using power generated from waste in our supply chain and 'Water Neutral', which includes offsetting partnerships in the local community."

One hundred per cent of the store's electricity and heating is provided by an onsite generator, meaning all operational energy used will be zero carbon. The combined heat and power system uses natural gas from the national gas grid. The equivalent amount of zero carbon biogas, required for the store each year, will be imported into the network from one of its Dairy Development Group farmer's anaerobic digestion facilities in West Sussex, thus creating a closed loop.

Also, like all Sainsbury's stores, none of its waste goes to landfill. Any surplus food is donated to local charities or made into animal feed, and when it's not suitable for consumption it's used to generate energy through anaerobic digestion. And, all general waste is recycled or turned into fuel.
 

Supermarket titan Tesco has launched the Future Farm Foundation to support the next generation of British farmers.

Tesco says the rationale behind the move is to help bright, talented, determined young people make their own start in the world of agriculture, whether that's taking over the family farm, embarking on a new business venture, or entering the industry for the first time.

In its first year, Tesco will offer a minimum of 15 young people a bespoke package of leadership training, business planning advice, mentoring, supply chain experience and networking opportunities.

Funded by Tesco and free for participants, successful applicants will be able to choose a programme suited to their own aspirations and business needs, and it's hoped the Foundation will also be able to offer training and support to dozens more young farmers during the application process itself.

Richard Marris, commercial director of Fresh Foods at Tesco commented: "Whether it's guidance on succession planning, advice on financial management, or providing access to a world-leading supply chain, we've developed the Future Farmer Foundation to be a strong base from which the farmers of tomorrow can launch themselves onto their chosen paths."

Picture credit: © Louise Carduner| Dreamstime Stock Photos
 

The latest international clampdown on tax evasion must involve both rich and poor countries if it is to stop criminals hiding billions from the taxman, campaigners say today.

The new briefing, Automatic For The People, was launched as representatives from over 100 countries gather in Indonesia this week (21-22 November) for the OECD Global Forum on Tax and Transparency.

Industrialised countries’ governments are setting up a new global system for automatically sharing information about foreign taxpayers. However, tax justice campaigners fear that little thought has been given to how it can work for developing countries.

Maria Villanueva, Oxfam policy advisor, said: "Without poor countries’ governments having a say on how a new tax system can work for them from the start, there’s a real danger the world’s poorest people will continue to be hit hardest by tax evasion.

"Tax evaders are already robbing poor countries of billions that could pay for vital public services, such as hospitals, schools and roads. Rich countries, whose banks are facilitating tax evasion, have a duty to help change the status quo, instead of continuing to profit from it."

Joseph Stead, senior economic justice adviser at Christian Aid, added: ‘If the new system is set up in ways which make it impossible for poor countries to participate, or benefit from it, then some of them may follow the logic of staying outside the system.

"And let us be honest – there is a logic. Countries whose governments do not share information about who owns what will – like other tax havens - attract dirty money from people and companies wanting to conceal it from the countries where they live and work.

"But if more countries become tax havens, that can only undermine the effectiveness of information-sharing between other governments. Far better to ensure now that the new information exchange system works for all countries, rich and poor."

Picture credit:  © Leopollo | Dreamstime Stock Photos

All nations at this week’s international climate change talks must leave Warsaw with a clear political understanding that a new global climate deal will be agreed in 2015, UK Energy and Climate Change Secretary Edward Davey has told the conference.

Davey said: “This week in Warsaw is absolutely critical to getting a climate deal in 2015. No one should leave this conference without the clear understanding and agreement that from here, we must make sure that when we arrive in Paris in 2015 we are ready to strike a deal."

The minister also announced that the UK will join the US in agreeing to end support for public financing of new coal-fired power plants overseas, except in rare circumstances in which the poorest countries have no feasible alternative. The two governments will work together to secure the support of other countries and Multilateral Development Banks to adopt similar policies.

“It is completely illogical for countries like the UK and the US to be decarbonising our own energy sectors while paying for coal-fired power plants to be built in other countries," Davey commented. “It undermines global efforts to prevent dangerous climate change and stores up a future financial time bomb for those countries who would have to undo their reliance on coal-fired generation in the decades ahead, as we are having to do today.

“Like the US, the UK recognises that there will be exceptions. We need to take account of new technologies such as Carbon Capture Storage and the very poorest countries where there are no alternatives. But many developing countries will soon find solar and similar energy technologies will become cheaper not just cleaner.”

Recognising the increasing impact of climate change on the world’s poorest countries, the UK has also pledged £50m to help more than 860,000 people adapt to those impacts. 

European companies are set to fall behind emerging markets-based companies on sustainability disclosure according to new report from Aviva Investors. 

The study carried out by CK Capital, Trends in Sustainability Disclosure: Benchmarking the World’s Stock Exchanges 2013, found that Europe performed favourably with Spain receiving top billing and eight of the top 10 spots going to other European exchanges. The rest of the top five went to Helsinki, Tokyo, Oslo and Johannesburg respectively.

However, the report authors say that these headline figures mask a trend across emerging markets in improvements in quantitative sustainability reporting practices. 

Doug Morrow, md at CK Capital and lead author of the report said: “Emerging markets stock exchanges are on track to surpass their developed-world counterparts in quantitative sustainability reporting by 2015. This ‘catch-up’ process is being driven by many factors including policy leadership from stock exchanges themselves.

“Our analysis suggests that advanced disclosure practices are linked with mandatory, prescriptive and broad disclosure policies, and these can be implemented through stock exchange listing rules, capital markets regulations or by government legislation. Implementation of the European Commission’s proposals would undoubtedly contribute towards better sustainability disclosure across Europe.”

A total of 3,972 listed companies were assessed across 45 stock exchanges in 40 countries. Companies were assessed according to their disclosure against the seven “first generation” sustainability indicators: employee turnover, energy, greenhouse gases (GHGs), lost-time injury rate, payroll, waste and water. 

Picture credit: © Bellemedia | Dreamstime Stock Photos

Nestlé has pledged to create 20,000 positions for young people across Europe over the next three years.

The Nestlé needs YOUth Initiative will offer jobs to 10,000 people under the age of 30 and create 10,000 apprentice positions and traineeships by 2016.

"Today, one in four young people in Europe does not have a job," said Laurent Freixe, Nestlé executive vice-president and zone director for Europe. He was speaking at the Nestlé needs YOUth launch event in Athens, the capital of Greece, a country where more than half of those under the age of 25 are without work. "As we continue to grow and invest in Europe, we want to do all we can to strengthen and develop their skills, and improve their employability, regardless of their level of education," he said.

European Council president Herman Van Rompuy said the initiative illustrated the unique role that the private sector could play in helping to resolve Europe’s jobs crisis. "We have to recognise that whereas governments can facilitate and support job creation, only private companies can create jobs or training opportunities," he said.
 

Read the full story in the December issue of Ethical Performance.

A simple, low-cost device that helps newborn babies to breathe and has the potential to transform the life chances for thousands of African babies has been awarded the highest fund in the first GSK and Save the Children $1m Healthcare Innovation Award.

The life-saving kit, called a ‘bubble’ Continuous Positive Airway Pressure, or ‘bCPAP’, is used to help babies in respiratory distress. CPAP devices use air pressure to keep patients airways open, and as there are few wall-mounted air supplies in Malawi hospitals, the newly innovated bCPAP air pump works on its own. A similar version is already commonly used in developed countries where they cost at least $6,000 each. This innovative low-cost ‘bubble’ CPAP adaptation can be produced for approximately $400.

The organisation behind the innovation and recipients of a $400,000 share of the $1m award is Friends of Sick Children, Malawi – a partnership between the paediatric department of Queen Elizabeth Central Hospital in Blantyre, Malawi, Rice 360°: Institute for Global Health Technologies in the United States and the University of Malawi College of Medicine.

The funding from the Healthcare Innovation Award, along with backing from the Ministry of Health in Malawi, will mean use of the device can be replicated and expanded to Tanzania, Zambia and South Africa.

Four other organisations apportioned grants from the $1m fund were:
· BRAC, Bangladesh - $300,000 awarded for the ‘Manoshi’ programme, which delivers a comprehensive package of health services for women and children in the urban slums of Dhaka;
· MUSO, Mali - $100,000 awarded for focus on a community-level system designed to support the early identification of women and children in need of healthcare, before their symptoms escalate to a more serious condition;
· Microclinic Technologies, Kenya - $100,000 awarded for an innovative mobile health management system designed to improve the quality of maternal and child care by providing access to real-time data to improve health planning decisions;
· Kangaroo Foundation, Columbia (Fundacion Canguro)- $100,000 awarded in special recognition of their long-term Kangaroo Mother Care programme, which promotes early skin-to-skin contact between mothers and their premature and newborn babies.