The Triple Bottom Line Simulation, a project of Capital Missions Company (CMC) and the Social Investment Forum (SIF) tracking five $100 million portfolios invested according to socially responsible investment (SRI) strategies used by various institutional investor groups, reports the tenth straight quarter where the portfolios outperformed their benchmarks, when taken as a group. For the quarter ended September 30, 2003, the portfolios invested by endowments and foundations, shareholder advocacy, and family offices outperformed their benchmarks by 2.96 percent, 2.34 percent, and 1.11 percent respectively. The portfolios invested by not-for-profit and religious institutions underperformed their benchmarks by 1.11 and 2.25 percent respectively.
The Cost of Global Warming
Ethical Corporation Magazine – by Alex Blyth
In its latest annual report Munich Re examines the impact of global warming. Munich Re, the world’s biggest re-insurance company, has attributed a sharp increase in weather-related disasters around the world to global warming.
In its latest annual report, the company puts the combined cost of this year’s global natural disasters at more than $60 billion, about $5 billion more than the year before. Insured losses increased to about $15 billion, a jump of $3.5 billion from the previous year. The number of natural catastrophes recorded was around 700, roughly same level as 2002.
The report also found that more than 50,000 people were killed in natural catastrophes worldwide, almost five times as many as in the previous year. The company attributed the jump to the heat wave in Europe and the earthquake in Iran, each of which claimed more than 20,000 lives. www.munichre.com online nolvadex