Posts Tagged: Article

The Cornerstone JSFB CEO’s Letter in Portuguese, December 2013

Carta da CEO sobre Finanças Sustentáveis e Banking Erika Karp Fundadora e CEO da Cornerstone Capital Inc. e ex Head de Pesquisa Setorial Global do banco de investimentos UBS Este mês no Cornerstone Journal of Sustainable Finance & Banking (JSFB), assistimos um mercado global mais suave com antecipação contínua da normalização das taxas de juros…. Read more »

TheLastPanda.com

This week marked the convening of the World Economic Forum’s annual Summit on the Global Agenda held in Abu Dhabi, UAE.  It’s notable this year that the various Global Agenda Councils (GAC) will be moving more closely together to cross-fertilize ideas and initiatives.  Throughout the venue we are reminded of the facts around risks to… Read more »

The Social Value of Derivatives

Extract from the Cornerstone Journal of Sustainable Finance & Banking, November 2013, written by Erika Karp, Founder and CEO of Cornerstone Capital Inc. A huge lament is the lack of any opportunity for an honest and open discourse on the place derivatives play in our society.  Why is it worth continuing to pursue such an… Read more »

“Extremes vs. Realities: Opportunities for China’s Urban Development”

Extract from the Cornerstone Journal of Sustainable Finance & Banking, November 2013, written by Zheng Xiaoping, Vice President of the China City Development Foundation and Director of BAZO. This is an era in which to connect worldwide resources to opportunities, and all of us can contribute to and benefit from them.  If there is one… Read more »

The Evolution of Company/Shareholder Engagement

Extract from the Cornerstone Journal of Sustainable Finance & Banking, November 2013, written by John Wilson, formerly the Director of Corporate Governance at TIAA-CREF and Director of Socially Responsible Investing at Christian Brothers Investment Services. The most important discussions today are taking place not across organizations but within them. Sustainability professionals both in investment organizations… Read more »

Journal of Sustainable Finance & Banking, November 2013

Following the outcome of the much anticipated Third Plenary Session of China’s Party Congress, global market participants puzzle over the extent to which reforms are discounted in the markets, and we consider optimal paths to long-term prosperity by including feature articles from two China experts….

A Zero Sum Game: Assessing Water Risks in China’s Mega Infrastructure

Extract from the Cornerstone Journal of Sustainable Finance & Banking, November 2013, written by Cyrus Lotfipour, Emily Chew, and Shuyuan Jin, MSCI ESG Research, a leading provider of in-depth environmental, social& governance research, ratings and analysis, with more than 150 ESG specialists worldwide. Water Scarcity poses an operational risk to companies in the metals, mining,… Read more »

Food Policy & the Environmental Credit Crunch

Extract from the Cornerstone Journal of Sustainable Finance & Banking, November 2013, written by Paul Donovan, Managing Director and Global Economist at UBS Investment Bank, and Julie Hudson, Managing Director, SRI & Sustainability at UBS Investment Bank. The global economy is at a dangerous stage of human development. The (relative) cornucopia of plenty has bred… Read more »

Jumpstarting Access to Capital

Extract from the Cornerstone Journal of Sustainable Finance & Banking, November 2013, written by David Robinson, Professor of Finance, Duke University and member of the World Economic Forum’s Global Agenda Council on Capital & Financing. In the wake of the economic slowdown precipitated by the global financial crisis, governments all around the world have been… Read more »

Financial Instrument Accounting: Still Waters Run Deep

Extract from the Cornerstone Journal of Sustainable Finance & Banking, November 2013, written by Janet Pegg, Head of Accounting & Valuation at Cornerstone Capital Inc. The FASB and the IASB have been working since before the financial crisis to improve accounting for financial instruments. Although the Boards have worked together, it is probable there could… Read more »

Living in Regulatory Purgatory

Extract from the Cornerstone Journal of Sustainable Finance & Banking, November 2013, written by Diane B. Glossman, an independent Director at Powa Technologies, WMI Holdings, and Ambac Assurance. Ultimately companies and industries cannot be regulated into behaving well: ethical mores have to be established by senior managements and become ingrained throughout organizations from within.

China Threat? The Challenges, Myths, and Realities of China’s Rise

Extract from the Cornerstone Journal of Sustainable Finance & Banking, November 2013, written by Lionel Vairon, Vairon author of the “ China Threat? The Challenges, Myths and Realities of China’s Rise” and former diplomat to Cambodia, Thailand, and Iraq. The Book “ China Threat ?” aims at giving a more balanced, less ideological view of… Read more »

China: The Elusive Market for US Technology Companies

Extract from the Cornerstone Journal of Sustainable Finance & Banking, November 2013, written by Nikos Theodosopoulos, Founder of NT Advisors LLC, a consulting and advisory firm for the Technology Industry. While China represents a large and rapidly growing market for US Technology companies, the path to success in this market has proven difficult and sometimes… Read more »

Sustainable Agriculture: When Less is More

Extract from the Cornerstone Journal of Sustainable Finance & Banking, November 2013, written by Karla Canavan, CAIA, Commercial Director at Bunge Environmental Markets.  The solution to the challenge to feed 10 billion people in 2050 is yet to be seen. However women farmers could trigger a big change and unfold a sustainable solution to the… Read more »

A Mandarin Translation of the CEO’s Letter in the Cornerstone JSFB, November 2013

首席执行官关于可持续金融和银行业的致辞 过去一个月西方市场得益于特殊的货币刺激政策而持续走高,并且这种刺激在短期内没有放缓的迹象,在这个月Cornerstone 可持续金融和银行业的月刊里我们想借此机会来讨论一下东方市场。在众所期盼的中国共产党十八届三中全会后,全世界金融市场的参与者对于改革政策不能完全被市场接受而感到困惑,我们通过在本期中介绍两位中国问题专家的专题文章来共同思考最优的长期繁荣的途径。在我们新的“Regional Imperatives”章节,前法国外交部长Lionel Vairon 通过他最新出版的“中国的威胁”一书务实性地回答了中国崛起的秘密和现实。也是在这个月的期刊里,中国城市发展基金会的郑小平带来了他基于多年在大规模城市发展方面的经验为中国城市化进程中跨地域知识和资本流向等方面而提出的一个模式。 除了郑所指出的在持续推进城市化进程中的困难,我们也探讨了一个以扩大内需作为经济未来发展方向所面临的关键问题:即对于淡水的需求。水危机无疑是二十一世纪无可争议的危机,在这月期刊的“Enhanced Analytics”章节,我们重点讨论MSCI研究的一个新报告,报告的题目是“零和游戏:评估中国超大规模基础设施的水危机。”在这里,Linda Eling-Lee的团队探讨了基金经理可用来清晰审视他们投资决定中关于处理水危机的方法。 在我们注意到水是世界消费品公司重要的可持续发展关注点的同时,我们也借此机会在这个月的期刊里来讨论一下瑞银全球经济学家 Paul Donovan 和环境,社会,公司治理以及可持续发展策略师Julie Hudson 的评论。在这月期刊的“Sustainable Standout”章节,他们认为确实有办法来调和政治必然性,经济挑战,以及为全球生产低廉成本食品所付出的环境代价…..既集中解决这个系统中巨大的浪费。在他们新著的题为“食物政策和环境信贷危机—从汤到坚果”一书中,Paul和Julie继续帮助投资者回答应对消耗明天有限的资源来维持今天的消费水平所面临挑战的策略。 提及为这个饥饿的世界可持续性的提供食物所面临的挑战,这个月在我们“Open Source Excellence”章节,我们重点推荐一篇来自Bunge Environmental Markets 的Karla Canavan 的文章。Karla提出了一个引人注目的对于如何真正有机会通过建设性的使女性农民获得参与能力来解决食物和资源匮乏问题的案例。Karla项目的讨论强调带来繁荣的同时也带来资本的巨大可能性。 回到这个月我们“Global Sector Research”的工作,我们继续讨论中国崛起的话题,在这里我们介绍了技术行业策略师Nikos Theodosopoulos 对于美国科技公司对中国市场难以捉摸的探讨。Nikos 明确地列出了中国潜在的巨大技术市场机会,阻力,以及竞争的动态性。 这个月的“Sustainable Editorial”章节我们已经讨论了富有建设性地讨论金融衍生品价值(“衍生品的社会价值”)的必需性, 接下来我们想对全球银行业的健康性进行一下讨论。我们也提供了一篇来自于银行业策略师Diane Glossman 关于全球银行业运行的法规条款的文章。Diane 分享了她对金融业回报前景以及在当前监管环境下政府对该行业应付职责的理解。接下来我们想重点推介我们研究团队的估值和财务板块负责人Janet Pegg的报告,她的报告站在很高的角度讨论了银行是如何在他们的资产负载表上处理金融工具的。 在这月期刊里我们加入了一个新的“Accelerating Impact”章节。在这里 我们强调了当前由私营和公共机构所号召的对于那些愿意看到资本可以持续性运转的全体而采取实际行动的动员。这个月我们重点讨论杜克大学的David Robinson 的工作,David 和我们世界经济论坛全球融资和资本议程理事会的同事共同设计了一个对于使资本加速流入中小企业所面临的困难进行分析的问卷调查。我们诚恳的希望读者能够使用这个链接(http://sites.duke.edu/gacfinance)来参与这个问卷调查,从而使世界经济论坛可以更好地支持促进增长和繁荣的关键发动机。 也是在这期月刊里,在我们的“Corporate Governance Insights”章节, 我们非常高兴地分享John Wilson关于私有行业在公司可持续发展倡议中支持程度的讨论。在这篇连续报告中,前任TIAA-CREF公司治理总负责人探讨了如下问题: 公司以及股份所有者在可燃烧碳问题上参与性的改变,碳排放纰漏的透明性,以及我们想推进私有行业对于气候危险问题提出解决办法所需要的商业模型的改进。 来结束这个月的期刊,除了重点推出TheLastPanda.org作为我们“Featured Domain”,我也想谈一下Cornerstone的团队成员经常自问我们对于“公司可持续发展”的定义。我们以前已经指出过在可持续金融领域语言所带来的挑战 (请参见我们在福布斯发表的题为“可持续性能够持续吗?”一文), 我们认为形成一个我们共同认可的统一定义的决心也许是徒劳的。并且企盼这个确定答案的想法也确实不可能加速改变的速度。所以对于Cornerstone Capital 来说,“公司可持续发展”的定义和公司所采用的战略以及商业技巧的紧密结合将是我们不遗余力对再生性以及从全方位考虑来发展经济的实质进展的追求。… Read more »

“Embrace the Grey”

Extract from the Cornerstone Journal of Sustainable Finance & Banking, October 2013 written by Erika Karp, Founder & CEO of Cornerstone Capital Inc. and Derek Yach, Chairman of the Board of Cornerstone Capital Inc. and SVP of the Vitality Group, Discovery Holdings Ltd. The path to progress is not a straight line. And in fact,… Read more »

The Universal Pictures Film: “42”

In the middle of the recent film “42” by Universal Pictures, the Brooklyn Dodgers Owner Branch Rickey played by Harrison Ford says to his partner at the opening game of the 1947 Major League Baseball (MLB) season: “Another opening day Harold…All future, no past.”  This movie, an homage to legendary barrier-breaking baseball player Jackie Robinson,… Read more »

A New Value Driver Framework

Extract from the Cornerstone Journal of Sustainable Finance & Banking, October 2013, written by David Lubin, Managing Director of S3, and retired as Co-Chairman and Managing Director of Renaissance Worldwide. He served as lead contributor to the UNGC in development of the report entitled, The Value Driver Model – A Tool for Communicating the Business… Read more »

Sustainability Metrics in Executive Pay: The Example of the Energy Sector

Extract from the Cornerstone Journal of Sustainable Finance & Banking, October 2013, written by Kimberly Gladman, Research Director of the Just Capital Foundation. Amid growing investor interest in the ways that corporations manage sustainability issues, executive pay plans are receiving heightened scrutiny. Many companies say they value environmental and social performance, but do they structure… Read more »

Things We Can Kick…And Things Which are Precious

Extract from the Cornerstone Journal of Sustainable Finance & Banking, October 2013, written by Janet Pegg, Janet Pegg is currently the Head of Accounting & Valuation at Cornerstone Capital Inc. Rather than having companies provide point-in-time valuations of intangible assets, what investors would find more useful is increased disclosure of the assets, both tangible and… Read more »

Is Activism Orthogonal or Complementary to Good Corporate Governance?

Extract from the Cornerstone Journal of Sustainable Finance & Banking, October 2013, written by Nikos Theodosopoulos, Founder of NT Advisors LLC, a consulting and advisory firm for the Technology Industry. The boards of large and “legacy” technology companies have to be cognizant of increasing shareholder activism in the technology industry and that more shareholder friendly… Read more »

Journal of Sustainable Finance & Banking,SM October 2013

We are pleased to present the inaugural edition of the Cornerstone Journal of Sustainable Finance & Banking (JSFB). Each month, the JSFB will strive to include important perspectives and insights from experts around the globe and across the functions of the financial markets. Cornerstone Journal of Sustainable Finance & Banking, October 2013  

Accelerate the Velocity of Money.com

Extract from the Cornerstone Journal of Sustainable Finance & Banking, October 2013, written by Mike Shavel, Research & Business Analyst at Cornerstone Capital Inc. and Erika Karp, Founder and CEO at Cornerstone Capital Inc. It is no secret that the pace of this recovery has been frustratingly weak, especially in light of the current Fed policy…. Read more »

Dow Jones Private Equity Analyst Conference, September 2013

Extract from the Cornerstone Journal of Sustainable Finance & Banking, October 2013, written by Erika Karp, Founder and CEO of Cornerstone Capital Inc. While the Partners from the various firms articulated their respective strategies ranging from a focus “across the breadth of the corporate maturity stack” to “deep specialization on a sector basis”, one message… Read more »

Three Little Words

Extract from the Cornerstone Journal of Sustainable Finance & Banking, October 2013, written by Susanne Stormer, Vice President, Corporate Sustainability, Novo Nordisk. Carve sustainability in stone where it matters most. In your company’s bylaws. This sends a strong message to investors, to business partners, to employees and indeed to management that this is how we… Read more »

“Main Street vs. Wall Street”, Now in Aluminum

Extract from the Cornerstone Journal of Sustainable Finance & Banking, October 2013, written by Pete Hickson, Founder of Global Materials Advisors Ltd. and an Advisory Director at TrafalgarCopley. Consumers claim that the practices of metal warehouses, owned in part by ‘Wall Street’ banks, have constrained supply and inflated costs. The LME warehouse operators counter claim… Read more »

The 3% Solution: Driving Profits Through Carbon Reductions

Extract from the Cornerstone Journal of Sustainable Finance & Banking, October 2013, written by Chris Fowle, Vice President, Investor Initiatives, CDP. This report from WWF and CDP identifies novel approaches for the private sector to realize significant cost-savings achieved through boosting energy-efficiency measures and transitioning to low-carbon energy sources. In the process, the US corporate… Read more »