Weekly News via Email
   Set as homepage | Add to favorites | Customer Service | Subscribe Now | Place an Ad | Contact Us | Sitemap Friday, 11.03.2006
Online Extras
Site Services
Around Bend
Outdoor Fun
Travel Info
Shop Local

Members Of

Bend Weekly Community Forums
Welcome to BendWeekly.com Discussion Board. If this is your first visit, be sure to check out the "FAQ" by clicking the link below. You may have to register before you can post: click the "register" link below to proceed.
 FAQFAQ   SearchSearch  RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

Environmental News

Post new topic   Reply to topic    Bend Weekly Community Forums Forum Index -> National News
View previous topic :: View next topic  
Author Message

PostPosted: Thu Mar 23, 2006 10:40 pm    Post subject: Environmental News Reply with quote

This nice article on corporate environmentalism. One point made is that government regulation is not necessarily the best way to foster better environemental behavior - a view with which I tend to agree, to a point.


Note also that Reason Institute is a libertarian think tank.
Back to top

PostPosted: Thu Mar 23, 2006 10:41 pm    Post subject: Reply with quote

A series from Grist Magazine looking at the relationship between pollution and poverty - the idea that the poor pay the most for environmental harm.


Grist is a "twigs and berries" mag along the lines of Mother Earth News. A little bit lefty, but very hands-on-get-involved. Leans toward these social justice issues.
Back to top

PostPosted: Thu Mar 23, 2006 10:42 pm    Post subject: Reply with quote

This article from the Christian Science Monitor asks "ethical investment" firms what development issues are important to them.


The article makes some good points about the relationship between development and the environment. Something to keep in mind as we welcome Sallie Mae and others and look to build more shell buildings.

Ethical investing is the concept that one invests only in companies that are supportive of social and environmental efforts. This is led by mutual funds Domini, Pax World and Trillium Asset Management, along with a few others. Mainline firms such as Ft. Wayne's Lincoln also have what are called "Social Awareness Funds" with companies chosen by the same criteria.
Back to top

PostPosted: Thu Mar 23, 2006 10:43 pm    Post subject: Reply with quote

This commentary from Renewable Energy News. The gist of the article is the title - the private sector knows what's up and is taking a leadership role in environmental issues. The fact that the current administration and Congress is actually trying to make it harder for these initiatives to gain ground is telling.

Why Wall Street is Greener than the White House
by Bruce Piasecki and Peter Asmus

February 19, 2006

Goldman Sachs became the first global investment bank to adopt a comprehensive environmental policy that acknowledges the value of "ecosystem services" this December. This firm is just one among many financial institutions pushing brave new forms of corporate social responsibility in response to global climate change. JP Morgan, for example, is already evaluating the impact of carbon risks on its loans to industries that are big polluters.

"It is telling that the first major call for regulation to address the rapidly escalating impacts of climate change is coming from the finance sector."

- Ross Gelbspan With this ground-breaking initiative, nonetheless, Goldman Sachs is explicitly acknowledging the fact that we cannot achieve climate stabilization without government regulations to complement individual corporate actions. Today, virtually any company that voluntarily undertakes a transition to renewable energy and other non-carbon energy sources may put themselves at a competitive disadvantage within its industry. A number of oil and auto executives have said privately that they can make the transition to clean energy, but they need government to regulate them so they can make the change in lockstep with no loss of market share. Others are willing to move forward, sensing opportunity in being greener first.

Owner of more than a few fossil-fuel power plants, Goldman Sachs agreed to publicly report on its efforts to reduce air emissions contributing to global climate change and invest $1 billion in renewable energy and efficiency projects. Goldman Sachs will also fund a new Center For Environmental Markets while broadening the application of social and environmental factors into loaning and investment activities. But most importantly, these Wall Street insiders have agreed to press the Bush Administration to adopt new public policies to respond to the global climate change threat.

"It is telling that the first major call for regulation to address the rapidly escalating impacts of climate change is coming from the finance sector," said Ross Gelbspan, author of the book 'The Heat Is On'.

According to Gelbspan, the immediate impetus comes from the escalating losses of the world's property insurers to floods, droughts and increasingly destructive storms. In 2004, for example, he pointed out that the global economy absorbed damages costing about $145 billion from climate-related disasters (primarily severe storms and hurricanes). Of that figure, about $44 billion represented insured losses. Munich Reinsurance, the world's largest re-insurance company, has projected that losses to climate impacts will approximate $300 billion a year in the next two decades.

Gelbspan continued, "Seen in a larger context, it seems that their own strategic needs require banks, insurers and financial institutions to take a longer view of the health of the capitalist system. Most individual companies, by contrast, are obligated to respond to shorter-term concerns about their quarterly or annual earnings and losses. So it falls to the world's financial institutions to protect the long-term viability of the economy."

Given the intensifying impacts of an unstable climate, it is obvious to many financial leaders that the ultimate viability of the global economy depends on government intervention to promote the necessary changes in the world's energy infrastructures. If government fails to intervene, insurance losses and defaulted business loans are the ultimate outcome, leading to a very damaging shrinkage of markets for goods and services, especially in developing countries.

Goldman Sachs is but one of many actors on Wall Street now scrutinizing fiscal risks in ways unheard of just a decade ago. The risks reshaping corporations can now be measured with some hard numbers by financial stock analysts. Independent rating agencies such as Innovest have already developed risk profiles of multi-nationals based on the carbon content of their products, slowly shifting investors from bad to good environmental corporate actors.

Consider these other major developments among corporations with carbon risks and driven by the growing and greening influence of Wall Street:

- HSBC has pledged to offset all carbon emissions by the end of next year;
- At Novo Nordisk, achievement of carbon reductions are a major factor in performance reviews of senior executives;
- BHP Billiton has developed specific carbon curtailment plans for each of its business units.

All of these companies are now developing social programs that mimic activities most of us associate with governments.

If corporations differentiate themselves based on a social response to climate change -- and can therefore manage risks better than competitors in their industrial sectors -- then third-party credit agencies such as Innovest, Core Ratings, and IRRC become key drivers behind sustainability. They can capture this hidden value of socially responsible firms! Once these former intangibles become indeed tangible, companies embracing social values such as Goldman Sachs can then jump out ahead of their competitors, instead of being penalized by the lack of government action.

Yes, we need Washington, DC to back-up the social product innovators, in order to institutionalize reforms to meet society's need for a comprehensive solution to the challenge of global climate change. But in the mean time, it is a new class of credible third-party agencies that are helping financial markets sort through tomorrow's winners and losers. In the process, they are shaping the fate of our planet in ways the White House may never be able to do.
Back to top

PostPosted: Fri Mar 24, 2006 7:25 am    Post subject: re: Environmental News Reply with quote

The a priori issue with no government evironmental regulation is because there no one corporation has any overriding interest in improving environmental treatment; it's good that corporations are working together, but there's no guarantee they'll continue to do that. What the government can do is introduce incentives for businesses to be green and work together.
Back to top
Display posts from previous:   
Post new topic   Reply to topic    Bend Weekly Community Forums Forum Index -> National News All times are GMT - 8 Hours
Page 1 of 1

Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum

Powered by phpBB © 2001, 2005 phpBB Group
Breaking News
Market Information
Featured Author
Horoscope Guide
Aquarius Aquarius Libra Libra
Aries Aries Pisces Pisces
Cancer Cancer Sagittarius Sagittarius
Capricorn Capricorn Scorpio Scorpio
Gemini Gemini Taurus Taurus
Leo Leo Virgo Virgo
Local Attractions
Bend Visitors & Convention Bureau
Bend Visitors & Convention Bureau

Mt. Bachelor Resort
Mt. Bachelor Resort

Les Schwab Ampitheater
Les Schwab Ampitheater

Deschutes County Fairgrounds
Deschutes County

Tower Theatre
Tower Theatre

The High Desert Museum


Deschutes County

  Web    BendWeekly.com
© 2006 Bend Weekly News
A .Com Endeavors, Inc. Company.
All Rights Reserved. Terms under
which this service is provided to you.
Please read our Privacy Policy. Contact us.
Bend Weekly News & Event Guide Online
   Save the Net
External sites open in new window,
not endorsed by BendWeekly.com
Subscribe in NewsGator Online
Add to Google Add to MSN Add to My AOL
What are RSS headlines?