Money matters

Helen Warrell's round-up of what's happening in the finance world.

Charities are not immune to the effects of climate change and must plan for a low-carbon economy, delegates to the Charity Finance Directors' Group's IT conference were told last week. 

Francis Rottenburg, an account manager at the Carbon Trust, said the cost of energy could increase by four or five times in the next decade.

- Continuing the carbon theme, international investment giant UBS has launched the first tracker fund to provide index returns on a lower carbon footprint portfolio. The UBS Europe Carbon Optimised Index works by over-weighting stocks in carbon-efficient companies and under-weighting those in carbon-inefficient firms. The fund, based on data from environmental research group Trucost, would be suitable for environmental charities that will now be able to invest in line with their missions.

- Corporate responsibility consultancy SustainAbility is producing a publication on social entrepreneurship and big business, using an invented word. The Social Intrapreneur: A Field Guide for Corporate Changemakers identifies a new breed of business leaders providing market solutions to global sustainability challenges. The research will be launched in London on 17 April.

- Presentation, a London-based social enterprise, is pioneering a new scheme to address the shortage of teachers in the capital by helping qualified refugees, such as Mr Abass to access jobs in schools. The project, Refugee Teachers Into Employment, is being run by Presentation's community investment division Olmec.

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