Phil Angelides, a Leader in Shareholder Activism and Green Investment, Wins the Joan Bavaria Award
Phil Angelides has been awarded the fifth-annual Joan Bavaria Award for Building Sustainability into the Capital Markets. The announcement was made today, the first day of the annual Ceres Conference, which is running May 1-2 at The Fairmont in San Francisco, CA.
Angelides is currently President of Riverview Capital Investments, a real estate investment firm which focuses on clean energy projects and sustainable urban development. From 1999 to 2007, he served as California’s State Treasurer. During his eight years in elected office, Angelides called for a renewed push in shareholder activism and launched the Green Wave Initiative, encouraging investment in green technologies and urging companies to address the financial risks of climate change and reduce their energy consumption.
The Bavaria Award is presented by Ceres and Trillium Asset Management each year to honor an inspiring leader working to move capital markets toward a system that balances economic prosperity with social and environmental concerns. The award honors Joan Bavaria, a pioneer of social investing who founded Ceres and Trillium Asset Management. Joan Bavaria passed away in 2008.
“Phil’s actions were bold and transformational, given that at the time, no other state pension fund had taken steps to incorporate environmental impact into their investments.” said Trillium’s CEO Matt Patsky.
“Phil Angelides has worked tirelessly to push investors and the business community toward a sustainable economy. As California State Treasurer, he helped spur investments that increased returns, created jobs and addressed the financial risks caused by the changing environment,” said Mindy Lubber, president of Ceres and director of the Investor Network on Climate Risk (INCR). “Phil embodies the spirit of the Joan Bavaria Award and we are honored to acknowledge his contribution to the sustainable investing community.”
Angelides also served as Chairman of the Financial Crisis Inquiry Commission, a bipartisan panel charged with conducting the nation’s official inquiry into the causes of the financial and economic crisis and presenting findings and recommendations to the President and Congress. Since 2007, Angelides has served as Chairman of the Apollo Alliance, a national coalition of business, labor, environmental and community leaders committed to creating green jobs and building a clean energy economy.
A founding member of the Ceres-led Investor Network on Climate Risk, Mr. Angelides served on the INCR Steering Committee and was a motivating force behind the first Investor Summit on Climate Risk at the United Nations in New York. Over the course of his career, he has helped mobilize financial leaders to act on climate and sustainability issues.
“The enduring strength of our economy and society is inextricably tied to our willingness to embrace investments and business practices that create sustainable enterprises, broaden economic opportunity, and protect our environment,” said Mr. Angelides. “ I am deeply honored to receive the Joan Bavaria Award and remain committed to supporting the critical efforts needed to confront the enormous economic and environmental risks posed by climate change.”
Ceres is an advocate for sustainability leadership. Ceres mobilizes a powerful coalition of investors, companies and public interest groups to accelerate and expand the adoption of sustainable business practices and solutions to build a healthy global economy. Ceres also directs the Investor Network on Climate Risk (INCR), a network of more than100 institutional investors with collective assets totaling more than $11 trillion. For more information, visit http://www.ceres.org
About Trillium Asset Management
With a history spanning three decades, Trillium is the oldest independent investment advisor focused exclusively on sustainable and responsible investing. Trillium manages over $1 billion in assets for clients including high net worth individuals, foundations, endowments, religious institutions, and other non-profits. To learn more about Trillium, please visit http://trilliuminvest.com.