Winslow publishes an occasional series of "white paper" studies on topics that are of interest to our investors and to us. These studies can be found below.
Green Energy At The Crossroads
In January of 2007, Winslow published a special edition of our newsletter entitled "Green Energy 3.0: This Time, Is Is Different." WInslow's report argued that the renewable energy and energy efficiency sectors were at the beginning of a very real and very substantial growth trend - in contrast to two false starts for green energy (first in the early 1980s and once again in the early part of this decade). And throughout 2007 and much of 208, we did indeed seem to be witnessing a true green energy revolution.
However, the extreme economic events of 2008 prompted a reexamination of Winslow's hypothesis - was it, in fact, too optimistic? Many investors are likely to be equally concerned about the prospects for green energy. To address such concerns, Winslow has written this white paper, in which the authors reexamine Winslow's investment thesis for green energy, and provide a comprehensive set of arguments that support its long-term prospects.
Riding The Green Wave: Green Transportation
For many people, driving – and transportation, broadly – may be the activity with the most visible and easily understood environmental consequences. That white vapor trailing from an automobile, bus, train or jet engine consists mostly of carbon dioxide (CO2), the most prevalent greenhouse gas (GHG) in the Earth’s atmosphere - these visible emissions seen everywhere in America serve as evidence of the fact that transportation and cargo vehicles are one of the largest contributors to carbon emissions in the United States.
In fact, transportation is such a large contributor to the climate burden of the U.S. that it will need to tackle transportation emissions as one of the first steps in any comprehensive plan to reduce our national carbon emissions.
Some changes will be relatively easy, but others may be extremely difficult and complex, and some solutions will definitely require new technology. As the transportation system changes, interesting opportunities for green investors will emerge.
This white paper explores the carbon emission impacts of various modes of transportation, and some alternatives and innovations that could help reduce those impacts.
The Case For Green InvestingTM
Winslow Management Company has been a pioneer in the field of environmentally-focused investing since 1983. Over the past quarter-century, Winslow has developed and refined a portfolio management approach that combines financial and environmental analysis into an integrated investment-decision making process. This paper provides a general overview of Winslow's Green InvestingTMapproach.
The Green Solutions Ecosystem
Suddenly, green is everywhere. Every magazine or newspaper has some
advice on how to live a more environmentally friendly lifestyle. Every home
improvement show seems to tout the benefits of green construction. Every
cooking and gardening show expresses reverence for organic foods.
Practically every company seems to be publicizing its fuel-efficient products,
its green corporate headquarters or its sweeping new sustainability initiatives.
But where is all of this new talk about the environment leading? What technologies are helping to improve the environment now? Which ideas represent
the growth industries of the future? These questions become harder to
answer with each new press release, each new technology development and
each new launch of a green product or service. Winslow has been analyzing
the field and arranging our own thoughts about the many new green
products and services available — what we call Green Solutions™.
This white paper explores Winslow’s framework for organizing this very
important but often confusing new world.
Buildings For A Greener Planet
The possible climate change and energy solutions that are currently receiving the most attention involve replacing oil with other fuel sources, such as ethanol, natural gas, hydrogen or wind. Although these alternatives are important considerations for our country’s future energy independence, the less discussed and more readily available option is conservation. Buildings are responsible for as much as 42% of the energy used in the United States, not
to mention 40% of the air pollution, and 25% of the solid waste produced (US EPA). That means a 10% improvement in energy efficiency in buildings countrywide could offset the pollution of every SUV on the road. This paper discusses what makes a building green, drivers for the increase in green building, and the economic potential of the green building market for socially responsible investors.
The New Playing Field: The Emerging Carbon Market
The rules of the game have changed: grappling with the new reality of carbon emission restrictions is transforming the way that businesses and governments
around the world operate. Compelled by regulations, common sense and
their own profit motive, businesses and governments are adapting to the new
rules of the carbon-constrained world by modifying their activities and creating new strategies. The rapidly developing world of carbon emissions trading created by this new game is a complicated one, but has great implications for the development of new industries and businesses worldwide.
Corporate Governance 101: An Introduction For Investors
Enron. WorldCom. Qwest. Tyco. Adelphia. Global Crossing. Vivendi.
Hollinger. Marsh & McLennan. The beginning of this decade saw a disappointing number of corporate scandals, with negative results for everyone involved — executives serving jail time, employees losing their jobs and shareholders losing their investment.
These failures have called the investment community's attention to corporate governance practices, with a growing body of research suggesting that improved governance, despite its potential drain on executives' time and resources, can actually enhance the performance of a company's stock...