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• Mission investing opportunities: CCM webcast on Green Approaches to Fixed Income Investing

  March 25, 2009

  Lisa Hagerman, Wednesday, March 25th, 2009

  Mission-driven investors are becoming more interested in green fixed income opportunities (e.g. green certified energy efficient buildings) as an easy point of first entry into mission investing, with new investment products available that support a foundation’s social and environmental returns while offering stable financial returns.

  According to the Environmental Protection Agency (EPA), buildings account for 39% of total energy consumption, 38% of carbon emissions, 30% of raw materials waste in landfills, and 12% of potable water consumption. Green approaches to fixed income investments supporting green buildings reduces energy consumption costs and provides safe and healthy living environments—a broader mission of foundations. See full article by Robert Kropp at Sustainability Investment News.

  David Wood, Director, Boston College Institute for Responsible Investment, moderated the webcast, “Green Approaches to Fixed Income Investing”, on March 18th hosted by Community Capital Management (CCM), a Florida-based registered investment advisor that provides fixed income strategies to institutional investors.

  The webcast gathered a large crowd (165 participants) representing a cross-section of stakeholders including investors (banks, foundations, and public pension funds), consultants, and investment fund managers.

  Barbara VanScoy, Executive Vice President and Senior Portfolio Manager for Community Capital Management presented their "non-traditional" Core Fixed Income strategy, which invests in taxable municipal bonds, multifamily mortgage-backed securities, asset-backed securities that support enterprise development, and targeted single-family securities that support affordable and responsible home ownership. "We now provide investors the opportunity to designate that the proceeds of their investment will be used to purchase securities that support environmental initiatives," said Barbara VanScoy. As of 12/31/08, approximately 17% of assets in the firm's composite of Core Fixed Income portfolios were allocated to U.S. agency multifamily mortgage-backed securities, which generated a quarterly return of 5%. Many of these instruments are collateralized by mortgages on affordable rental properties that incorporate green design features promoting smart growth, energy efficiency, and resource conservation.

  Michael Furze, Green Initiative Specialist, spoke on the New Mexico Mortgage Finance Authority (MFA), a public-private partnership created by the state legislature in 1975 that has provided $3.9 billion in affordable housing finance options for low to moderate-income New Mexicans. Michael Furze presented on green building initiatives at MFA that receive Leadership in Energy and Environmental Design (LEED) ratings and Energy Star (an EPA program) designation.

  To download presentations click here.
   

  posted 1:04PM 03/25/2009 by Lisa Hagerman
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