Participants' news: watch the Green Transition Scoreboard video; join the Climate Bonds Initiative webinar; in support of financial transaction taxes; FT article - income inequality bad for economics and societies

NSFM participant Hazel Henderson and Ethical Markets have produced a Green Transition Scoreboard video as a three minute easy introduction to the good news that the green economy is winning over the fossil-fuelled Industrial Era. Hazel wants to spread the message far and wide, so watch the video, like it, tweet it and otherwise pass it around!

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July 11th/12th - You’re invited to join NSFM participants Nick Robins from HSBC and Sean Kidney from the Climate Bonds Initiative present a Webinar about the recent ClimateBonds/HSBC report on Bonds and Climate Change: State of the Market 2012. The report shows that there are $174 bn of climate-themed bonds outstanding in seven different investments areas.

There are two Webinar time options you can choose from:

1. For EU, Asian & Australian audiences - Wed 11 July, 9.30am Paris / 1.00pm Delhi / 3.30pm Hong Kong / 4.30pm Seoul / 5.30pm Sydney

2. For North American & UK audiences – Thurs 12 July, 8.00am San Francisco / 11.00am New York / 4.00pm London (BST).

The Webinars are free. To register RSVP to sean[at]climatebonds.net 

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Released to the media in several countries on Thursday, June 21, a number of NSFM participants signed a letter in support of financial transaction taxes (FTTs). More than 50 prominent financial professionals endorsed the letter calling for the introduction of small FTTS to rebalance financial markets away from a short-term trading mentality that has contributed to instability.

NSFM participants that signed the letter are as follows:

John Fullerton, Founder and President, Capital Institute, and former Managing Director, JP Morgan

Dr. Hazel Henderson, author, Ethical Markets: Growing the Green Economy, and former Advisory Council member, Calvert Social Investment Fund

Adam Kanzer, Managing Director and General Counsel, Domini Social Investments, LLC

Avinash Persaud, Chairman, Intelligence Capital Limited & Chairman, Elara Capital PLC, and former head of Currency and Commodity Research, JP Morgan (UK)

Raj Thamotheram, President, Network for Sustainable Financial Markets, Co-founder, Preventable Surprises, and former Director of Responsible Investment, AXA Investment Managers (UK)

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'Studies agree a vast income gap is bad for business' - in a recent article in the FT, Marguerite de Chaumont reports on a recent report from the Organisation for Economic Co-operation and Development (OECD) that argues income equality is bad for economics and societies.

'The report found that income inequality in OECD countries has reached its highest in half a century, with the average income of the richest 10% being about nine times that of the poorest 10%. It would appear to dispel the popular notion that the benefits of economic growth trickle down automatically.'

NSFM president, Raj Thamotheram was quoted in the article discussing the increase in income disparities over the past decade. In his article Long-Term Matters: Whose standards count? he writes: “Institutional investors have made a virtue about being uninterested in pay inequality and quantum” but adds that they ”could easily become a much bigger part of the solution if concerned stakeholders were to act strategically”.