“This is the perfect time to reinvent ourselves”
Socially Responsible Investing has enjoyed a period of growth spanning back several decades that could be the envy of many other sustainable industries. Even during the economic downturn following the housing crisis of 2008, SRI kept climbing its ladder. Financial assets under SRI management now exceed $33.3 Trillion (or one in every six dollars in professional investment management), and they’re being used to influence corporate governance in ways that have lasting and measurable impacts.
And yet, there’s a sense that we’re not moving the needle fast enough. As SRI manager Michael Kramer explains in a recent op-ed on GreenBiz.com,
“Corporate disclosure of social and environmental performance remains voluntary, and commitments to significantly reduce carbon emissions remain few and far between, even as we continue to develop new fossil fuel resources. Meanwhile, in marketing and facile public discourse, sustainability has been significantly watered down, too often simply serving as a green patina atop business as usual. It’s time that we dig deeper.”
That watering down has led some to consider shifting the conversation toward “resilience” as opposed to sustainability. Kramer is among them. Kramer and his colleagues recently released a new book called The Resilient Investor. The book includes a chapter called “Weaning off Wall Street”, which is a particularly refreshing strategy I’d not usually expect from an investment advisor.Click to continue reading »