RI Initiative Tools and Research

RII Research
Online Tools
Responsible Investment Mapping
Bibliographies
Partner Publications

RII Research

Working papers, reports, and articles

WP 14-01 Hebb, T., Hoepner, A., Rodionova, T., and Sanchez, I. (2014) Power and Shareholder Saliency, Working Paper, Responsible Investing Initiative and Saint Andrews University, UK.

WP13-05 Letourneau H. (2013) The Responsible Investment Practices of the World’s Largest Government Sponsored Investment Funds,Working Paper, Carleton Centre for Community Innovation, Carleton University, Ottawa (ON), Canada.

WP 13-06 Bhatt B. and Hebb T. Measuring Social Value: A Social Metrics Primer, Working Paper, Carleton Centre for Community Innovation, Carleton University, Ottawa (ON), Canada. Accompanying spreadsheet.

Hebb T. and Sharma R., (2013) “New Finance for America’s Cities,” Regional Studies.

Mittelman, R. and Rojas-Mendez, J.I. (2013) “Exploring Consumer’s Needs and Motivations in Online Social Lending for Development,” Journal of Nonprofit & Public Sector Marketing 25(4).

Goodman, J., C. Louche, K.C. van Cranenburgh, and D. Arenas. (2013) Social Shareholder Engagement: The Dynamics of Voice and Exit Journal of Business Ethics.

Mendell M. and Barbosa E., (2013) Impact Investing: a preliminary analysis of emergent primary and secondary exchange platforms,  Journal of Sustainable Finance and Investing 3(2).

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Books and Book chapters

Hawley J, Hoepner A., Johnson K., et al eds (2013)  Handbook Of Institutional Investment And Fiduciary Duty, Cambridge University Press.

Hebb T. (forthcoming) Building the Market for Impact, in Routledge Companion to Philanthropy, Harrow, J., Jung, T., Phillips, S., eds., Routledge Press, London.

Hebb, T., Hoepner A., Beimish N., Hawley J., & Woods D. (Eds.). (forthcoming). Routledge Handbook on Responsible Investing. London: Routledge.

Hebb T and Zanglein J. (in press) Economically Targeted Investing, In Handbook Of Institutional Investment And Fiduciary Duty, Hawley J, Hoepner A., Johnson K., et al eds., Cambridge University Press.

Hebb, T. (Ed.). (2012). The Next Generation of Responsible Investing. Netherlands: Springer Publishing.

Louche, C., & Hebb T. (Eds.). (2014). Socially Responsible Investing in the 21st Century: Does it Make a Difference for Society. Bingley: Emerald Press.

Jackson, E. and M. Tarsilla (forthcoming) “Mixed  Methods in Social Accounting: Evaluating the  Micro-Loan Program of Alterna Savings Credit Union.” In L. Mook (ed). Social Accounting for Social Economy Organizations. University of Toronto Press, Toronto.

Richardson B. (2013). Fiduciary Law and Responsible Investing: In Nature’s Trust. London: Routledge.

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New research papers from the Responsible Investing Initiative

Responsible Investing Initiative Year One research papers are now on-line.

Research Stream 1: The Business case for Responsible Investing

WP13-01 Diouf  D., Hebb T., and Hadji E. (2012)  Exploring factors that influence social retail investors: Evidence from Desjardins Fund, Working Paper, Carleton Centre for Community Innovation, Carleton University, Ottawa (ON), Canada.

WP13-02  Majoch A. (2012) The impact of the UN Principles for Responsible Investment on ESG practice: five years of evidence, Working Paper, Responsible Investing Initiative and Saint Andrews University

Research Stream 2: Responsible Investing and Fund Governance

WP13-03 Hachigian H., (2012) How Public Institutional Investors Can Manage Competing Accountabilities-A Governance Framework for Responsible Investment, Working Paper Responsible Investing Initiative and University of Oxford, School of Geography and the Environment.

Research Stream 3: Responsible Investing Legal and Regulatory Regime

Richardson B., (2013) “Fiduciary Responsibility in Retail Funds: Clarifying the Prospects for RI” Journal of Sustainable Finance and Investing 3(1).

Richardson B., (2013) Fiduciary Law and Responsible Investing: In Nature’s Trust Routledge, London.

Research Stream 4: Responsible Investing and the Extractive Sector

WP13-04 Abele F. and Gladstone J. (2012) Responsible investment in the Canadian Territorial North: Some considerations from Inuit Nunangat,Working Paper, Carleton Centre for Community Innovation, Carleton University, Ottawa (ON), Canada.

Research Stream 5: Impact Investing

Mendell M. and Barbosa E., (2013) “Impact Investing: a preliminary analysis of emergent primary and secondary exchange platforms”   Journal of Sustainable Finance and Investing 3(2).

New Report on ‘The Role of Institutional Investors in Social Finance’ presented by Tessa Hebb to the 2010 Task Force on Social Finance.  

This policy brief focuses on Canadian pension funds as a source of potential capital in for Canadian communities.  It examines how other jurisdictions have approached this issue and looks for possible policy options that will encourage such investment.

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Responsible Property Investing in Canada: Factoring both Environmental and Social Impacts in the Canadian Real Estate Market

Tessa Hebb*, Ashley Hamilton+ and Heather Hachigian* *Carleton Centre for Community Innovation, +Shareholder Association for Research and Education (SHARE)

This paper explores responsible real estate investment in Canada by taking an integrated approach in examining both environmental and social factors and their potential impact on such investments. We conduct a series of semi-structured interviews with key stakeholders in Canada to gain insight into how using environmental and social factors may influence long-term risk and financial returns in real estate investment in Canada with particular emphasis on institutional investors engaged in these practices.

“The Virtue of CalPERS’ Emerging Equity Markets Principles”

by Gabriel A. Huppé and Tessa Hebb

This paper argues that CalPERS’ new principles-based approach to investing in emerging markets stands at the midpoint between its previous alpha-generation policy of complete country-level divestment and its beta-enhancement associated with universal investing in its domestic and developed markets. While CalPERS previous policy addressed macro-level standards at a country level by negatively screening out companies in restricted countries, it precluded CalPERS’ normal practice of corporate engagement to raise ESG standards at the company level in these markets. We argue that the new policy brings CalPERS emerging market portfolio more closely in line with its policies of engagement. We describe this policy as ‘enhanced alpha-generation’. We further argue that the financial returns on these emerging market investments are more in line with emerging market benchmark returns, while the raised ESG standards allow for risk reduction in the portfolio over time.

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Online Tools

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The Community Information Database (CID) Team is pleased to announce the following new features available at: www.cid-bdc.ca

The CID has a new website with a new look and new client focused features:

• “Start Mapping” link for users that want to go directly into creating a map.
• “Generate Community Profile” searchable link to community profiles for every community in Canada
• “Mapping Wizard” Step by step wizard that introduces users to all of the mappable data on the CID.
• Completely revamped mapping Help files available under the “Help/Support” link on the website.

The Community Information Database is a free Internet-based tool providing consistent and reliable social, economic and demographic data for all communities and regions across Canada.

The CID was developed by the Rural and Co-operatives Secretariat in collaboration with provincial, territorial and community partners. It is part of the Government of Canada’s ongoing support to rural and remote communities.

We would welcome your comments on the CID.  We would be particularly interested in hearing how the CID is useful to you. Please send an email to: cid-bdc@agr.gc.ca

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L’équipe de la Base de données sur les collectivités (BDC) est ravie de vous annoncer que des nouvelles caractéristiques sont maintenant offertes sur le site: www.cid-bdc.ca

Le BDC possède un nouveau site Web revampé et doté de nouvelles fonctions axées sur le client :

• lien « Commencer la cartographie » pour les utilisateurs qui veulent aller créer une carte directement;

• lien cliquable « Générer un profil communautaire » pour toutes les collectivités du Canada;

• un « Guide de cartographie » qui présente pas à pas toutes les données mappables aux utilisateurs;

• des fichiers d’aide à la cartographie complètement revampés sur le lien « Aide et soutien » du site Web.

La Base de données sur les collectivités est un outil en ligne gratuit qui fournit des indicateurs sociaux, économiques et démographiques fiables et cohérents sur toutes les collectivités et régions du Canada.

La BDC a été élaborée par le Secrétariat aux affaires rurales et aux coopératives en collaboration avec les provinces et les territoires et des partenaires communautaires. Elle a été mise en œuvre dans le cadre du soutien continu du gouvernement du Canada envers les collectivités rurales ou éloignées.

Vos commentaires sur la BDC sont les bienvenus. Nous aimerions particulièrement savoir en quoi la BDC vous est utile. Veuillez envoyer un courriel à : cid-bdc@agr.gc.ca

Community Information Database | Base de données sur les collectivités

Rural Research and Analysis | Recherche rurale et analyse
Rural and Co-operatives Secretariat | Secrétariat aux affaires rurales et aux coopératives
Agriculture and Agri-Food Canada | Agriculture et Agroalimentaire Canada
1341 Baseline Road, Tower 7, 3rd Floor | 1341 Rue Baseline, Tour 7, 3e étage
Ottawa, Ontario | Ottawa (Ontario) K1A 0C5
cid-bdc@agr.gc.ca
Telephone | Téléphone: 1-888-757-8725
www.cid-bdc.ca

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Ottawa Cleantech Initiative has been engaged in the development of an online map that allows users to navigate the Cleantech Ecosystem of Eastern Ontario (CLEEO for short). More than a search tool it allows users to identify strengths and synergies in the cleantech ecosystem in Eastern Ontario leading towards a greater number and more efficient collaborations in the cleantech sector in the region. You are invited to explore CLEEO here.

What to expect.

The ecosystem approach recognizes that it takes a variety of stakeholders and assets to create, sustain and grow a strong cleantech sector. As a result you will notice that the region’s cleantech assets have been divided into four primary categories each playing an important part in the success of particular subsectors within cleantech:

1. Industry
   • Technology Companies
   • Manufacturing / Distribution / Sales Companies
   • Industry Specific Service Companies
   • Associations / Foundations / Non-profits
2. Government
   • Advisory
   • Funding
   • Regulatory
3. Research
   • Academic Research Faculty or Department
   • Government Research Department
4. Specialized Asset
   • Natural Resource
   • Specialized equipment
   • Specialized facility

The value of this tool resides in the quality of the data supporting it. OCRI encourages you to work with them and your colleagues in building an accurate picture of our region’s cleantech ecosystem by sharing your knowledge of your own organization or subsector within cleantech in eastern Ontario.

Marc McArthur, Manager, Ottawa Cleantech Initiative welcomes any comments, clarifications or additions.Please contact him directly at: mmcarthur@ocri.ca

OCRI : Leading the Way for Ottawa
2625 Queensview Drive, Suite 200
Ottawa, Ontario K2B 8K2
Tel: (613) 828-6274 ext. 276

Visit us at www.ocri.ca

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Responsible Investing Mapping

Mapping Responsible Investing Initiatives of Canadian Institutions

This report includes a scan of the fifteen largest pension funds in Canada. It provides an overview of the policies and programs related to incorporating ESG factors into investment policies and procedures.

Canadian Banks and Credit Unions

The report provides a snapshot of the responsible investment practices of banks and credit unions from across Canada. It gathers evidence from a number of internet sources including websites, news articles, financial statements, annual reports and SIP&Ps. The report includes a brief description of each organization’s structure, specific examples of attempts made to incorporate ESG factors into investment and lending practices, social and environmental programs, identification of responsible investment policies and SRI funds, proxy voting guidelines, membership in social and environmental organizations, and the impact of the recession on asset sizes of the capital pools.

Canadian Insurance Companies
Insurance Excel Map

This review of ten Canadian insurance companies provides some insight into the progress they have made on responsible investing. Insurance companies are behind other Canadian institutions in their efforts to incorporate ESG into investment practices. As a result, this report will be updated as more information becomes available. There is less focus on responsible investing policies and more on programs that encourage sustainable business practices.

Canadian Mutual Funds

This resource is a synthesis of evidence collected on the responsible investing practices of Canadian mutual funds, including shareholder engagement, proxy voting and screening.  It draws on a number of internet sources such as mutual fund websites, news articles, financial statements, annual reports and SIP&Ps. The report includes a brief description of each mutual fund’s organizational structure, specific examples of attempts made to incorporate ESG factors into investment practices, identification of responsible investment policies and funds, proxy voting guidelines, membership in social and environmental organizations and the impact of the recession on asset sizes of the capital pools.

Canadian University Pension and Endowment Funds

This resource scans over thirty Canadian universities for evidence that their pension and endowment funds are incorporating ESG considerations into investment decision-making. It draws on a number of internet sources including university websites, the Green Report Card, news articles, financial statements, SIP&Ps, and annual reports. Findings from this study include responsible investing policies and funds, divestments from tobacco and Darfur and a few examples of economically targeted investments such as community development loan funds. The report includes a brief description of each university’s pension and endowment fund, specific examples of attempts made to incorporate ESG factors into investment practices, identification of responsible investment policies and funds, proxy voting guidelines, identification of key drivers such as student action groups and advisory boards, and the impact of the recession on asset sizes of the capital pools.

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Bibliographies

• Annotated Bibliography on Responsible Investment
• Annotated Bibliography on Responsible Property Investing (new)
• Annoted Bibilography on ESG Standards and Emerging Markets (new)

Partner Publications

• The Journal of Environmental Investing
• Journal of Business Ethics
• Journal of Sustainable Finance and Investment

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