Word: innovest
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Dates: during 2002-2002
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...investors who want independent analysis of corporate environmental performance, Innovest, a research firm based in New York City, assigns bond-style ratings. A report on the automotive industry gave high marks (AAA) to Toyota and Honda for their work in setting environmental standards for their factories--and their suppliers. Porsche (CCC) trailed all 13 competitors that Innovest studied, partly because of a poor showing on fuel-economy standards...
...Innovest's ratings are of particular interest to a growing class of fund managers, including pioneers Amy Domini of Domini Social Investments and Reto Ringger of Sustainable Asset Management, who limit their investments to companies that meet certain environmental and social criteria. Assets in U.S. socially screened funds surpassed $2 trillion last year, a 36% increase since 1999 and a rate of growth 1.5 times as fast as the average of other professionally managed U.S. funds, according to a Social Investment Forum study...
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