Clean Yield is an SEC-registered investment advisory firm working exclusively with social investors. Since our founding in 1984, our goal has been to invest to promote a sustainable society while achieving competitive financial returns. Our hallmark is working closely with our clients to ensure that we are responsive to their unique financial requirements and personal values.
We are a member of the US SIF: The Forum for Sustainable and Responsible Investment, Green America, and the Slow Money Alliance. We are an affiliate member of the Interfaith Center for Corporate Responsibility.
We congratulate Vermont Housing and Conservation Board on its 25 years of investing in affordable housing and land conservation.
What is Socially Responsible Investing?
Social investors recognize that every financial transaction has social implications as well as monetary ones. While traditional investing is aimed exclusively at maximizing financial value, social investing takes account of both financial and social bottom lines. Socially responsible investing can be a catalyst for positive social change or merely a way to help the investor sleep better at night. See our services »
News & BlogNovember 14, 2013
November 14, 2013 (Norwich, VT) – Clean Yield Asset Management is pleased to welcome two new hires, Steve Lehman in the role of equity analyst and Karin Chamberlain as Impact and Community Investment Analyst.
Steve has more than 25 years of investment experience, first in managing portfolios for individuals at a major Chicago bank, and later managing a global mutual fund in Pittsburgh that at its peak had $3 billion in assets. A graduate of Ripon College in Wisconsin, Steve majored in economics and earned magna cum laude and Phi Beta Kappa distinction. He later received a master’s in public policy studies from the University of Chicago. Before entering the investment field, he worked on Capitol Hill for Tom Harkin of Iowa. Steve and his family moved to the Upper Valley in 2012.
“I am excited to live in the Upper Valley and work for an investment firm that incorporates environmental, social, and governance considerations into the stock selection process,” Steve said. Read more »Comments » September 26, 2013
In a New York Times op-ed piece published a few weeks back, Villanova University political science professor Mark Lawrence Schrad argued that the vodka boycott launched to punish Russia for its anti-LGBT crackdown had a “slim” chance of success and that its potential to backfire on LGBT Russians is high. Schrad dismissed the boycott as mere symbolism and argued that vodka exports no longer matter that much to the Russian economy.
Clean Yield has taken no position on the boycott, but we felt we had to respond to what we felt was a simplistic analysis of what boycotts are really about. Here is what we wrote (which the Times kindly saw fit to publish):
To the Editor:
Mark Lawrence Schrad makes both good and bad arguments to advance his thesis. Among the good are the declining economic importance of vodka exports to the Russian economy, and the fact that the primary target, Stolichnaya, is based outside Russia and that its leaders have condemned President Vladimir V. Putin’s antigay policies. Read more »Comments »
Company ProfilesSeptember 11, 2013
When we last wrote about Cree in 2010, LED (light emitting diode) lighting was on the cusp of entering the mainstream, but LED lamps remained expensive (“$40 for a light bulb?!?”) and somewhat exotic. Today you will find Cree’s bulbs prominently displayed in Home Depot at a price point under $10 with a 10-year warranty, a life expectancy of 25,000 hours, and just 16% of the energy appetite of an equivalent incandescent bulb. Cree’s lamps are also 27% more energy efficient than compact fluorescents (CFLs) and don’t contain the toxic mercury found in their curly cousins. No wonder, then, that Cree’s sales are glowing brightly; since 2010, the company’s sales have grown by 60%. But profits haven’t kept pace due to a boom in LED manufacturing in China, similar to what was seen in the solar industry, which resulted in lower prices and squeezed profit margins. That trend turned around in the middle of 2012, and Cree has been boosting its margins since then, resulting in robust earnings growth. Read more »September 10, 2013
Trinity Industries is a play on the resurgent demand for rail services in the U.S. The company manufactures, leases, and sells rail cars of many kinds, including tankers, hoppers, and freight cars. In 2012 its shipments accounted for one-third of U.S. railcar sales. Demand in this business has been robust as the economy has rebounded, particularly in the energy and chemicals industries. The company’s backlog of orders soared from $3.7 billion at the end of 2012 to $5.1 billion as of June 30. That’s over 40,000 railcars to be produced and delivered over the next two to three years. Meanwhile, earnings per share have been forecast to jump 45% this year. But Trinity isn’t purely a rail company. It is also the largest U.S. maker of inland barges and manufactures towers for wind turbines and construction products, among other things. The wind tower business is experiencing a slow 2013, as the legislative threat to the production tax credit last year is still plaguing the industry. The tax credit survived for another year as part of the fiscal cliff deal, but due to long lead times for wind projects, few projects are being completed this year. Read more »