EUROSIF, the European Social Investment Forum, has released its 2006 European Handbook entitled "Active Share Ownership in Europe" for institutional investors. A brief description can be found here. Basically, to manage social, environmental, ethical and corporate governance risks across investment portfolios, institutional investors are pressing companies for better disclosure. Some groups, like the Enhanced Analytics Initiative, are even trying to reward brokerage firms that offer broad research in nonfinancial areas. These institutional investors are taking the responsibility of ownership more seriously, and some funds are shifting part of their portfolio into companies that have a good ESG (environmental, social and governance) profile. In an article for the IHT entitled "Funds join in social pressure", Matthew Saltmarsh gives the following numbers: 5% to 10% of all investments in Europe could be classified as socially responsible, and worth about €336 billion in 2003 and may have reached € 500 billion in 2005 (Eurosif); and socially responsible investment assets in the US were $2.29 trillion, up from $639 billion in 1995 (US Social Investment Forum).
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