Jakarta (AFP) June 9, 2009
The Indonesian stock exchange and a biodiversity foundation have launched an investment index to raise awareness of companies' environmental track records, the environmental group said Tuesday.
The SRI-KEHATI index, which lists 25 companies, is the second single-nation sustainability index in Asia after Japan, according to the Indonesian Biodiversity Foundation.
The sustainable and responsible investment (SRI) index, launched on Monday, includes a palm oil firm, three miners and two cement companies in Indonesia, which is widely considered the world's third-highest carbon emitter.
"The index is created as a parameter so investors can invest their funds in companies that show awareness of the environment and community," the foundation's investment specialist Sani Burhanuddin said.
"We hope that investors won't only focus their attention (on the) financial aspect, but also take fundamental aspects into consideration for their medium- and long-term investments."
The companies are judged on six areas, which are the environment, community involvement, good corporate governance, respect for human rights, business behaviour and labour practices.
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Cutting down forests for agriculture vents excess carbon dioxide into the air just as industrial activities and the burning of fossil fuels do. But whether policies to stabilize greenhouse gases in the atmosphere should include this terrestrial source of carbon dioxide is under debate. According to a new study in Science, failing to include land use changes in such policies could lead to ... read more
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