Environmental Finance is a British magazine that covers “the ever-increasing impact of environmental issues on the lending, insurance, investment and trading decisions affecting industry.” Contributors include environmental and business writers, and also experts in the field – including KLD President Peter Kinder.

The September issue [subscription required] includes “Lessons from China to the City,” a consideration of the policy approach described as “engagement.” Leaders such as US Secretary of State Condoleezza Rice have argued that economic engagement with nations like China will lead to political and environmental reforms.

Peter’s article looks at engagement’s track record in China, and also describes a more active sort of engagement: social investors’ campaign against South African apartheid. He presents lessons of successful engagement with both governments and corporations, and suggests that only a sustained, coordinated effort by governments, activists and ordinary citizens can really fulfill engagement’s promise:

“Influencing change in China and in corporations – especially at the intersection of human rights, economic development and global warming – will take no less.”