While in Boston for the Ceres Conference, I also attended the Siran (Sustainable Investment Research Analyst Network) Symposium. Most of the participants were analysts who spend much time practicing shareholder advocacy. One of the sessions featured Dan Viederman of Verite, who spoke on how to improve corporate responsibility in the supply chain. Verite is a non-profit organization committed to ensuring safe, fair and legal working conditions worldwide.

Dan mentioned that social investors and non-profit groups have succeeded in raising awareness about supply chain issues, influencing companies to be more open about the realities of their sourcing, and developing pilot projects to address problems. Yet despite some clear signs of progress – particularly in transparency – improvements on the ground are coming slowly.

Dan stated that any company which sources products from Third World countries invariably has human rights violations in its supply chain. The key for companies is to admit this reality and take steps to address it.

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Last week I attended the Ceres Conference in Boston, where environmentalists, investors and corporations came together to discuss topics related to the intersection of green issues and business. One of the most interesting panels I attended was titled The Coal Conundrum: Too Abundant to Ignore, or Too Risky to Pursue?

The panel consisted of five speakers and included representatives from Sierra Club, Bank of America, and Powerspan (a company that develops clean coal technology). Discussion centered on the carbon dioxide emissions of coal-fired power plants, whether emissions could be economically reduced by “clean coal” technology or sequestration, and the probability and impact of a federal cap on emissions. Here are some of my thoughts on the seminar:

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A recent report from the Social Investment Forum has confirmed what some of us have known intuitively—that many of those who fell victim to the abusive and often predatory practices of the sub-prime mortgage industry would have been better served by the services offered by community development financial institutions (CDFIs). These community banks, community development credit unions and nonprofit loans funds work with low-income or credit-challenged (i.e. “sub-prime”) clients through lending programs designed to help them succeed over the long term, not take advantage of difficult situations. They do this by providing borrower education, emergency assistance programs, fair lending policies and discipline in knowing when—and when NOT—to lend.

The Center for Responsible Lending predicts that 2.2 million borrowers could lose homes with an attendant loss of $164 billion in wealth in 2008. While some sub-prime loans were made to real estate speculators, the demographic hardest hit by predatory lending in the sub-prime market includes racial and ethnic minorities, the elderly, women and low and moderate income borrowers. The Center reports that 53% of African-Americans and 42% of Latino families who bought homes in 2006 have already lost or will lose their homes to foreclosure in the next few years vs. 22% of white borrowers.

CDFIs across the country are rescuing families hurt by predatory practices in the sub-prime mortgage industry through targeted outreach to borrowers, financial counseling, restructuring consumer debt, modifying loans for distressed borrowers, granting short-term loans and managing repossessed properties. MMA is supporting these solutions to the sub-prime crisis through investments in CDFIs held by MMA Community Development Investments (MMA CDI). Currently, MMA CDI has over $5.6 million invested in institutions helping sub-prime borrowers “do the right thing” and build a better tomorrow for their families and communities. You can read the full report on the Social Investment forum website (www.socialinvest.org) and learn more about MMA CDI through the MMA website (www.mma-online.org) .