There are people, some of them financial advisors, who believe that you cannot make money through sustainability, social justice and ESG investing. (ESG stands for environmental, social and governance investing.) To be accurate, people don’t say you can’t make any money on these investments, just not as much money as you would if you didn’t factor in those considerations when picking your investments. Let’s put this to rest right out of the gate. John Hale of the renown MorningStar investment research firm has said that’s not true. And Morgan Stanley’s Sustainable Reality: Analyzing Risk and Returns of Sustainable Funds survey came to the same conclusion. It determined that the returns of sustainable funds were in line with comparable traditional funds by looking at the performance of nearly 11,000 mutual funds from 2004 to 2018. In fact, the report concluded that there were no statistically significant differences in total returns. An interesting kicker was that the sustainable funds may offer lower market risk. These funds experienced a 20% smaller downside deviation than traditional funds. If you’re like most investors, the downside is what you find scary, not the upside.

For this first article on socially responsible investing, we’ll look at two topics related to getting started: advisor selection and investment screening. We’ll also cover one benefit of ESG investing: risk mitigation.

Advisor selection

If you’d like to pursue (or even explore) socially responsible investing with an advisor, you’ll need a particular type of advisor. Margaret Towle’s “Environmental, Social and Governance Investing: Myths versus Reality” discusses the problem with advisor selection. Many advisors simply don’t believe good returns are possible from these types of investments. Therefore, they have not researched them. Some of them are with companies that don’t have agreements with a diverse number of mutual fund managers, resulting in

Rice Acquisition, a blank check company formed by Rice Investment Group targeting energy transition and the sustainability arena, filed on Tuesday with the SEC to raise up to $200 million in an initial public offering.

The Carnegie, PA-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. Atlas Point Fund, a subsidiary of CIBC, plans to purchase $25 million worth of units in the offering. The company may raise an additional $75 million at the closing of an acquisition pursuant to a forward purchase agreement with Atlas Point Fund. At the proposed deal size, Rice Acquisition would command a market value of $200 million.

The company is led by CEO and Director Daniel Rice IV, who is a Partner at Rice Investment Group and recently served as CEO of Rice Energy until its acquisition by EQT in 2017. He is joined by CFO and Director Kyle Derham, who is also a Partner at Rice Investment Group and previously served as VP of Corporate Development and Finance at Rice Energy and Rice Midstream until 2017. The SPAC plans to concentrate its search on supply-side solutions and innovations that enable the economy to decarbonize in certain energy sectors.

Rice Acquisition was founded in 2020 and plans to list on the NYSE under the symbol RICEU. The company filed confidentially on September 16, 2020. Barclays is the sole bookrunner on the deal.

The article Sustainability SPAC Rice Acquisition files for a $200 million IPO originally appeared on IPO investment manager Renaissance Capital’s web site

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital’s research analysts and do not constitute an offer to buy or

Surpassing a massive 320,000 hours of fleet service since its introduction five years ago, the Cessna Citation Latitude has been the world’s most-delivered midsize business jet for four consecutive years, and is a bonafide hit with private jet travelers.

“Five years since its introduction, the Citation Latitude is now an industry icon. Business travelers were the first to appreciate its versatility and comfortable cabin which makes the jet ideal for business productivity and leisure alike,” said Rob Scholl, senior vice president, Sales.

But those laurels are not being rested on: The Citation Latitude jet is just one of maker Textron’s fleet of 13 commercial turbine aircraft capable of flying with sustainable aviation fuel. As customers look to lower the environmental impact of their private jet travel, Textron Aviation has embraced the use of biofuel-related power.

The Citation Latitude midsize business jet has a four-passenger range of 2,700 nautical miles (just over 3,000 statute miles) at high-speed cruise and features class-leading take-off length to take advantage of shorter, regional airfields. Inside, expect the most open, spacious, and refined cabin environment in its category, with a flat floor and six feet of cabin height. The Citation Latitude jet can comfortably accommodate up to nine passengers. Travelers also enjoy nonstop flight between destinations like Los Angeles and New York or Geneva and Dubai. The Cessna Citation Latitude starts at $17.5 to $18 million.

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