Archive for the ‘Socially Responsible Investing’ Category

Teachers’ Pensions Come From Coal?

Do you know where your pension coming from? For some US teachers, it’s Chinese coal.

The Chinese coal industry is known for its lucrative returns: the China Shenhua Energy Co. gained 65% from July to September, and many investors claim they can’t afford not to be in China. In fact, 20% of Shenhua’s stock is held by U.S. investors — one of whom is the Teachers Retirement System of Texas.

But China’s coal is also a huge polluter. According to the New York Times, China uses more coal than the US, the EU, and Japan combined, contributing an enormous amount of CO2 to the atmosphere. Coal-fired plants emit more than 60 different hazardous air pollutants. The large amounts of sulfur dioxide produced by Chinese coal cause acid rain, which pollutes water sources. But because of China’s rapidly advancing economy, the country needs energy — fast and cheap. Coal-fired plants are much cheaper and quicker to build than natural gas, nuclear, or hydroelectric plants, and it’s widely available.

China’s booming coal industry is also harmful to its citizens, producing so much sulfur dioxide that the World Bank estimated 400,000 premature deaths happen each year due to pollution-related illnesses. Not only that, but as much as 40% of air pollution in South Korea and Japan is believed to originate in China, and many experts believe that pollution from China is reaching the western part of the United States.

Do Texas teachers know where their pensions are coming from? For that matter, are other teacher retirement systems investing in Chinese Big Coal? I checked out Missouri’s Public School Retirement System, in which my husband and I have each invested. With my little financial knowledge, I was able to determine that PSRS has invested with Merrill Lynch, which is a shareholder in Shenhua. Just how much of my money is in coal remains to be seen. Looks like it’s time to work towards divestment…

Source: Associated Press

Weekend Review: The Lazy Environmentalist

My problem with The Lazy Environmentalist, green radio host Josh Dorfman's self-proclaimed "guide to easy, stylish, green living" isn't that it lacks information. It's actually a quite comprehensive guide to supporting green companies. I dog-eared multiple pages so I could visit websites of the companies in which I was interested. But it's not so much a guide to green living as it's a guide to green buying. I guess the tone set forth from the brief introduction rubbed me the wrong way:

These innovators make it easy for us to integrate environmental awareness into our lives. They understand that while so many of us are concerned about the environment, we don't always have the time, energy, or inclination to do something about it.

I only wish this was written in a less-than-serious voice. In my mind, if you don't have the "time, energy, or inclination" to do something about the environment, than you can hardly classify yourself as an environmentalist. You are looking to alleviate guilt for your conspicuous consumption, a culture of consumption that is devastating our planet. It's exactly the "culture of convenience" that's waging all-out war on our resources. Consider this passage from the chapter on cars:

There really is something for everyone–even those who drive Hummers, the most colossal of all urban assault vehicles…By offsetting the carbon dioxide emissions spewing from your car's tailpipe, TerraPass offers Hummer drivers eco-salvation.

Eco-salvation for Hummer drivers? A little too, oh, oxymoronic, for my tastes. Lazy is definitely geared towards a more high-end clientele, despite it's mention of Wal-Mart as an organic clothing retailer (Yeah, I know what you are thinking…I can't trust them quite yet, either).

Stepping off of my soapbox, for those of us who do have time, energy, and inclination to do something to lighten our footprint still have to buy goods and services, and Lazy provides a well-laid, well-written plan to finding greener versions of those goods and services. If you have to spend money, you might as well spend it on more sustainable products, right?

There are 22 chapters focusing on different products and services, from home furnishing to energy providers to media outlets (what, no shout out for Green Options?) Each chapter begins with a narrative insight into what practices these eco-companies are establishing to go green, then lists several companies, along with their websites and a brief description of what their business does or produces. Reading about different design innovations companies are using was fascinating (BraveSpace's hollow bamboo tables, anyone?), and I'll definitely check out many of the websites listed. If I'm going to save the planet, though, I've got better things to do.

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