Investment funds that claim to be socially and ethically responsible rarely invest in companies that are tackling climate change, a new study has found.
According to A Guide to Climate Change Investment, by financial adviser Holden Partners, most socially responsible investment funds invest in mainstream companies such as Vodafone and the Royal Bank of Scotland. Many also invest in large mining corporations and oil firms. "The report shows SRI and ethical funds have not kept pace with the appetite for environmental solutions," said Peter Holden, a partner at Holden Partners.
- Specialist charity sector accountancy firms Hard Dowdy and Chantrey Vellacott DFK have merged. Hard Dowdy will continue to deliver its services under its current name. The merger brings together two of the longest established firms of chartered accountants in the UK.
- Chief executives body Acevo is holding a one-day event on full cost recovery and strategic financial planning in Leeds on 15 February. The event will examine how to translate understanding of the principles of full cost recovery into an organisation's business planning process.
- Non-profit sector bank Triodos lent £33m to charities and social enterprises in 2007 - more than double its lending in 2006. "It's a great result, particularly given the current financial malaise," said Sue Cooper, senior manager of the bank's social banking team. "The result is a real indicator of the sector's growing economic significance."