Wednesday, October 27, 2010

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Me, finance and sustainable development: Towards Socially Responsible Investment

The film Jocelyne Lemaire-Darnaud released in late September in some cinemas, Me, finance and sustainable development , tackles the topic of what banks do with our money. About 50% of the money comes from banks deposits, which they lend to investors via sophisticated financial products generally taking the name of investment funds (FCP, Sicav ...).

Institutional investors (Goofs in trader parlance) that your money in the film and besides those mentioned above, pension funds are Anglo-American (eg, the Scottish Widows, Scottish Widows, to quote a very famous!) but also ARRCO the French system of private supplementary pensions, and the Pensions Reserve Fund (created by Lionel Jospin in 1999) we are talking now about of Reform: The RIF alone holds 30 billion euros that are placed on financial markets! These are enormous masses of capital, and your savings portfolios in addition to funding these masses of capital. Hence the interest of making the Socially Responsible Investment (SRI), about the film.

The SRI was "invented" by a woman, a nun, an accountant by trade, and put in charge of investing the money from his congregation in the best interests of religious, yet the religious congregation established in this countries at war specifically cared Children injured by landmines that conflicts "regional" leave behind! One day trip in one of its communities, it is challenged by a sister who asks him: "You're still not investing in the military-industrial amputations which we treat children caused by their explosives? "Alarmed, Nicole Reille (his name) has reviewed its entire portfolio of shares by calling its bankers to find out where the money was placed in his congregation. Seeing that the number one criterion , the maximum yield was excluding any other, it has itself created its own investment fund for companies selecting its according to social, ethical, environmental and governance . As always, it is women who invent these areas, and these are men who felt the future trend, adopt backwards, eventually industrialize and at that time, the inventor has disappeared from radar screens of history, and they just assume the invention! Nicole Reille is hardly known, it is mentioned in the film by a female lobbyist that his bank attributes the invention ! As proof, the two traders SIR (Societe Generale and Credit Agricole memory) interviewed are men! But it is true that phynance is a people business, unfortunately for us, as we have known since August 2008!

Today, despite "a dislike of France for Ethics"-phrase heard in the film-bankers have (small) departments and some traders SRI; associations Amnesty International, Friends of the Earth and Greenpeace for their part, lobbyists see the second film from Greenpeace below-challenging Pébereau BNP PARIBAS, "bank nuclear "first major bank to finance this sector but also industry and the public on the ethics of their funding, as proposed nuclear plant in Bulgaria on an earthquake fault (after us the deluge!), project cons which Friends of the Earth have lobbied.
Below the trailer for the film Moi, finance ... I assure you, the ironing board is used only once and ironically "The film is a very clear set of interviews and documented that advance the understanding of the audience.



To be complete on the subject, Greenpeace (film in English) is currently campaigning to try to BNP-PARIBAS back on funding a nuclear power plant a few kilometers from Rio in Brazil, Central recycle materials for it are more than 26 years at the Chernobyl plant and remained stored until better days, which apparently arrived after the explosion of 1986 has failed to make uninhabitable half of Europe! These pieces, dating back more than 30 years are the most current safety standards. Via the website Stop Nuclear banks (banks stop nuclear!) Can write Pébereau asking him to stop funding this project through our economies.

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