Socially Responsible Investing: Gaining Momentum

I believe that the way people save, spend, and invest can dramatically influence both the fabric and consciousness of society. I believe that in addition to the benefits of ownership, investors bear responsibility for the impact their money has in the world. I believe that integrating money with values can be both prudent and rewarding.
- George Gay, CEO, First Affirmative Financial Network (FAFN)

These words come from our interview with George Gay. They so well express GreenMoney Journal's 15-year mission that we're using them to launch our Fall 2006 Socially Responsible Investing (SRI) issue.

The world needs positive impact right now, and genuine "progress" rather than what is currently coming out of Washington, DC. We have always believed that socially responsible investing is a positive pathway to a sustainable future, regardless of which political party is in power, and we're pleased that SRI is gaining momentum.

This issue offers a variety of perspectives on SRI. Tim Smith writes about the recent proxy/shareholder resolution season; Tim Freundlich updates us on community investing; and, as mentioned, we interview George Gay, CEO of FAFN. We also profile the international and global SRI mutual funds, as well as look at the new SRI 401(k) product, Social(k).

GreenMoney.com includes our expanded version of this issue (see articles below). Leading off is an article from Anne Firth Murray, founder of the Global Fund for Women, on her new book, Paradigm Found: Leading and Managing for Positive Change. You'll also find more then a dozen additional articles on SRI.

In addition to GreenMoney.com, these other online resources can be very helpful to you and your financial advisor:
Social Investment Forum - http://www.socialinvest.org
Triple Bottom Line Investing - http://www.tbli.org
The Association for Sustainable & Responsible Investment in Asia - http://www.asria.org
the UNEP - Finance Initiative - http://www.unepfi.org
Social Funds.com - http://www.socialfunds.com

Another, more adventurous, way to stay current is to attend SRI conferences and related events. Our calendar on page 17 includes about twenty important upcoming socially responsible business and investing events around the world. At GreenMoney.com, explore the extensive GreenMoney Calendar that includes conferences all the way into 2008.

For this Fall, we especially recommend two events: SRI in the Rockies in Colorado Springs on October 28-31, and TBLI Europe in Paris on November 9-10.

Join us in these important conversations as our 15th Anniversary year begins...

Feature articles
	GreenMoney Interviews: George Gay, CEO of First Affirmative Financial Network Interviewed by Cliff Feigenbaum, founder of the GreenMoney Journal
	Social Investment- Highlights from 2006 Proxy Season The 2006 proxy season was memorable with numerous highlights and its share of lowlights. Shareowners continued to insure their voices were heard and there were numerous examples of management and investors seeking common ground and reaching positive agreements. Timothy Smith and Bruce Freed
	Is $19.6 Billion of Community Investment Enough? Community investing - placing real investment dollars into low income housing, microcredit, small business development and other social enterprises - is the fastest growing segment in the socially responsible investment landscape. According to the most recent Social Investment Forum (SIF) report, community investing has grown 20% compounded per year over the last two. That's $19.6 billion from US investors now at work each and every day in communities of need across the world. But this is a veritable drop in the bucket, representing a mere 0.9% of SRI assets and 0.1% of all investment assets in the US. Its practitioners continue to work toward a time when the market system fully embraces community investment. Timothy Freundlich
	Social(k) - The Retirement Platform Providing the Most Expansive SRI Opportunities Ever Fifteen years ago a close friend of mine, Joe Sibilia, began his journey toward corporate responsibility and sustainability. He established Meadowbrook Lane Capital, a socially responsible investment bank and became a Board Member of Pioneer Valley (MA) Business for Social Responsibility, among several other undertakings. Rob Thomas
	Global and International SRI Mutual Funds Warren Buffet fans are no doubt aware that he has purchased foreign currencies and selected foreign equities to protect Berkshire Hathaway assets from the fluctuating American dollar. Ted Ketcham and Cliff Feigenbaum
	PUBLISHERS NOTE - "Going Green"
Additional Online Articles
	Creating Positive Change - There Is No Beginning Too Small Have you ever had the feeling while reading a newspaper, listening to a lecture, or sitting around a dinner table talking with friends about current events, that "Something out to be done about that"? Or perhaps you have felt appalled by an injustice of some sad event and thought, "What is to be done?" Anne Firth Murray, Founding President of The Global Fund for Women and Author of Paradigm Found
	The 2006 SB20: Companies Changing the World (for the better!) One of the more difficult things for sustainable investors to discern is which companies truly stand out in terms of their practices. Without knowing a company extremely well, by reading their sustainability reports, for example, it's hard to separate the greenwash from serious efforts. Rona Fried, Ph.D., Sustainablebusiness.com
	Sustainable Asset Management How two of the country's top financial planning and money management companies marry their clients' needs for personal financial contentment with a mission to make a positive impact on society. Brent Kessel, CFP
	TIAA-CREF Releases Participant Survey on Socially Responsible Investing TIAA-CREF, the financial services organization and leading provider of retirement plans in the academic, medical and cultural fields, recently released results of a comprehensive survey of participants on issues related to socially responsible investing.
	UNEP and partner investment companies launch a landmark report: "Show Me The Money" Fourteen of the world's largest investment companies recently launched a ground-breaking report for the United Nations Environment Programme Finance Initiative (UNEP FI).
	UN Secretary-General Launches "Principles for Responsible Investment" Backed by World's Largest Investors International Funds Worth $2 Trillion Announce Endorsement at New York Stock Exchange
	Parnassus Small Cap Fund Identifies Unique Sustainability Characteristics to Outperform Russell 2000 While the introduction of the Parnassus Workplace Fund a year ago piqued interest, the Parnassus Small Cap Fund unveiled at the same time is turning heads with strong financial performance. Bill Baue, socialfunds.com
	Trillium Takes the Reins from Winslow in Managing the Green Century Balanced Fund The transition in portfolio managers has shifted the fund back to its roots as a core portfolio holding by reducing risk and diversifying holdings across the multi-cap space. Bill Baue, socialfunds.com
	Investors Increasingly Drawn to Community Investing, with 40 Percent Jump in Assets Big Draw Seen in Opportunity to Make Direct Impact in Communities Underserved by Traditional Financial Institutions; Most Recent Interest Fueled by Post-Hurricane Katrina Rebuilding Push.
	Calvert Foundation's "Community Investment Notes" Achieves $100 Million Milestone for Microlending Initiatives, Community Development
	Ceres Praises AIG as First U.S. Insurer to Adopt Climate Change Policy Ceres, a national coalition of investors and environmental groups, praised AIG, the world's largest insurer, for becoming the first U.S.-based insurance company to adopt a policy to manage the risks and capture the business opportunities posed by climate change. Ceres has been seeking improved U.S. insurance industry practices on climate change through the Investor Network on Climate Risk, a group of 50 institutional investors that manage nearly $3 trillion in assets.
	KLD's Global Climate 100 Index Marks First Year Milestones Strong Performance and Launch of First Environmental Index Fund in Japan
	Socially Responsible Investment Analysts Find More Large U.S. Companies Reporting on Social and Environmental Issues Study Finds Over 40 Percent of S&P 100 Index Companies Issuing Annual Reports on Corporate Social Responsibility; Growing Numbers Using 'Global Reporting Initiative' Standard
	Social Investment Forum: 2006 Environmental and Social Shareholder Proxy Resolutions up from 2005, with Emphasis on Global Warming, Toxics and Political Donations Rise in Corporate Governance Resolutions Also Seen, Along With Emerging Shift in Tactic
	The Equal Exchange CD - Invest in Fair Trade A new way to support Equal Exchange and Fair Trade. The Equal Exchange Certificate of Deposit - A Three-Year CD with an APY of 4.45% Managed by Wainwright Bank
	Timberland Issues Fourth Corporate Social Responsibility Report Demonstrates Commitment to Transparency, Standards and Driving Positive Change in the Retail Industry