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Corporate Accountability, 
Wall Street and the Environment

 

In today's global economy, corporations are doing more and more
  business abroad, often at the expense of the environment and
 local communities. In the past several years
  we have seen corporations leaving behind 
trails of destruction in places from Nigeria to Indonesia. Friends
of the Earth is using innovative strategies to solve this problem 
we work with locally affected communities, environmental and 
human rights organizations, shareholders, and Wall 
Street to challenge corporations to become better global citizens. 
Through our Green Investments program, we're working to 
improve the capacity of the global marketplace to foster
sustainability by taking the environment directly to Wall
Street. The Green Investments project is dedicated to 
making financial markets more capable of protecting the
future of the earth and local communities by changing financial
systems and practices
Wall Street Misses the Green
 To ensure that Wall Street receives environmental information,
 FoE monitors the Securities and Exchange Commission's 
 implementation of environmental disclosure regulations. Through
 the Corporate Sunshine Working Group, FoE leads an
 alliance of over one hundred investors, environmental, labor
and community groups in the field of environmental financial 
 accounting to broaden and deepen such corporate disclosure 
 requirements. Through CERES  and its leadership in the
 Global Reporting Initiative, we're working to improve and 
 standardize voluntary corporate environmental reporting.
 Outreach to the Financial Community
 To ensure that Wall Street uses and integrates environmental 
 information into financial decision-making. FoE works with
 communities adversely affected by corporations and poorly
 -planned development projects to communicate environmental
 and social concerns in financial terms. FoE also works with
 ratings agencies, hosts investor briefings, creates corporate
 financial profiles, and educates investors and creditors 
 on the bottom-line benefits of corporate responsibility.
Democratizing capital
FoE's Green Paycheck Campaign empowers individuals to 
match their values with their investments by teaching small 
savers how to establish a socially and environmentally
responsible pension option in their workplaces. For ten 
years FoE has been partnering with institutional investors
to confront corporations through shareholder advocacy. 
FoE is also an official partner in the SEC's "Facts on 
Saving and Investing" educational campaign, and is
frequently called upon as an expert in the field of
private finance and the environment.
Catalyzing sustainable investments
FoE is pursing the creation of a "development screen" at the International
Finance Corporation (private finance arm of the World Bank) to create
investment criteria which prioritize and catalyze private investment
in sustainable enterprises and projects. FoE also works to educate
investors on their roles and special responsibilities of investing in
emerging market economies.
Building international NGO capacity
FoE co-directs the Quantum Leap project, which sponsors NGO training,
networking, and engagement opportunities on international private
finance for NGOs around the world. 
Conctact: Michelle Chan-Fishel 
Coordinator, Green Investments Program