Blog

Why the “Green” Bond Label Isn’t Enough and What is Being Done About it

The term “green bond” is receiving more and more attention, not only because of the growing demand for ESG investments, but also because the “green” label is so ambiguous.  Perhaps the lack of a clear definition is partly a result of the approximately $576 billion universe of unlabeled green bonds. Furthermore, as climate change mitigation and adaptation technologies expand rapidly, a concrete definition for “green bonds” will become increasingly difficult to establish. Fortunately, evaluators are looking at ways to tackle this issue by addressing investors’ demand for a more transparent and clear label.

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ESG/SRI Investing: Can Investors Have Their Cake and Eat it too?

As discussed in an earlier blog, The Nomenclature of Impact Investing, ESG (Environmental, Social, and Governance) investing and SRI (Socially Responsible Investing) are two of many acronyms used for impact investing.  Despite its growing popularity, some investors have voiced their concern regarding a returns trade-off.  ESG investors and managers, including the 1,500 signatories of the UN Principles for Responsible Investment, will point to numerous studies showing that returns need not be sacrificed when investing in ESG issues.[1]  However, it appears that some still need convincing.  This past month, the California Public employees’ Retirement System (CalPERS) announced a request for asset managers to show historical performances of ESG investing in order to prove outperformance of cap-weighted benchmarks or benchmark segments.[2]  So, with what seems to be ambiguity in the space of ESG investing, where can we find clarity?

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A Look at Your Trash: Seeing Beyond the “Waste”

Have you ever stopped to analyze your trash? Here in the United States, we are privileged to dispose of the things we no longer want in our sight with great convenience, ridding the waste from our homes for others and the environment to deal with later. The United States Department of Agriculture reports that 30-40% of food supply worth over $100 billion ends up in landfills.[1] Waste, in addition to its social and political implications, has direct consequences on all aspects of the environment.

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Taxable Municipals: Social, Environmental and Portfolio Benefits

Taxable municipal bonds may be used to finance a variety of social and environmental initiatives such as affordable housing and healthcare, neighborhood revitalization, job creation, energy efficiency, wind turbines, solar panels, education and healthy communities, to name just a few.   

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Fixed Income Sustainability

Fixed income sustainability takes a positive screening approach to identify bonds that finance or support environmentally sustainable initiatives. It incorporates the “E” and the “S” of ESG, which may not be as common in fixed income as equities but it can be fully integrated into fixed income analysis and helps make more-informed investment decisions.  Within the different offerings of traditional fixed income investments, the incorporation of ESG examination can help provide insight into underlying risks and advantages.

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 A full list of regulatory disclosures for Community Capital Management, Inc. are available by visiting: https://www.ccminvests.com/regulatory-disclosures/.